Regulation round-up 6 October 2015
The biggest regulatory news from the egaming industry in the last seven days (30 September to 6 October 2015)
PokerStars awarded a New Jersey licence
Amaya’s PokerStars and Full Tilt will return to US market for the first time since Black Friday in 2011
PokerStars and Full Tilt are set to return to the US market after a five-year absence following parent company Amaya’s licensure by New Jersey’s Division of Gaming Enforcement.
The poker and casino sites, which were shut down in the States on 11 April 2011 when the federal government cracked down on what it perceived was illegal activities related to online gambling, have long been trying to find a way back into the huge US market.
Both brands will launch under Resorts Casino’s interactive wagering permit, after Amaya struck a deal with the land-based operator back in July 2013. However the firm did not set a date for when the poker and casino sites will go live.
British regulator to beef-up anti-crime controls
Great Britain’s Gambling Commission has set out plans to strengthen the licensing code in order to better protect the gambling industry from becoming embroiled in criminal activity.
The regulator has published a series of proposed amendments to the licensing code and conditions of practice (LCCP) on which it will consult with industry and the public before adopting the changes next year.
The Commission said new licensing requirements were needed after it had become aware of instances of poor practice among operators, while advancements in technology and consumer habits had moved the goalposts since the 2005 Gambling Act came into force.
Seven days in regulation:
German gambling board unconstitutional, rules Bavarian court
The Bavarian Constitutional Court has labelled Germany’s Interstate Treaty on gambling “unconstitutional” as pressure continues to mount on the beleaguered framework.
While a number of German courts had previously criticised the mechanics of Germany’s regulation, this new ruling confirms suspicions that the country’s gambling board, the Glücksspielkollegium, is in fact unconstitutional.
In its ruling, the Bavarian Constitutional Court said extending the number of sports betting licences which can be issued from the current 20 permitted would not be enough to make the treaty compliant.
Playtech’s Ava Trade deal thrown into doubt
Playtech’s $105m acquisition of CFD broker Ava Trade has been thrown into doubt after the supplier received a letter from the Central Bank of Ireland (CBI) outlining its opposition to the deal.
Playtech said it had taken legal advice on the letter, which was received on Friday, and would seek clarification from the CBI today and engage the bank “in order to discuss certain issues raised” in the letter.
The deal, which was announced in July, is subject to regulatory approval and with Ava Trade headquartered in Dublin, the takeover must receive the green light from the CBI before being completed.
The deal has already been approved by the Financial Services Commission in the British Virgin Islands, and Playtech said it believed the issues raised by the CBI, which haven’t been disclosed, can be addressed to the regulatory body’s satisfaction.
Finland to merge state-owned lotteries
Finland’s Ministry of the Interior has said it will merge three of the country’s state-owned gambling monopolies in a bid to create a firm which can better safeguard Finland’s monopoly system.
Sports betting and lottery operator Veikkaus, casino and slots operator RAY and horse racing operator Fintoto will begin preparations to merge into a single state-owned entity in a move the government says will allow for more improvements to the offer while protecting the sector’s welfare contribution.
The merger will create an operator which will return around £900m a year to good causes, with Veikkaus alone reporting full year digital gross gaming revenues of around £211m in 2014.