Regulatory Compliance: Around the world in June

Altenar provides sportsbook products and solutions to operators in more than 50 countries around the world and staying on top of the latest regulations is an essential part of our service.

With gambling regulations constantly changing, staying on top of the updates can be a difficult task so here is our monthly round-up of some of the latest developments in jurisdictions where Altenar is licensed or certified to operate.

Licensed Countries

UK

Regulatory returns changes

From July 1, all licensees must submit regulatory returns on a quarterly basis, within 28 days of the end of each quarterly period.?

New personal management licence requirements

Proposed changes mean that from November 29, the following individuals will be required to hold a PML:

• The person with responsibility for the overall management and direction of the licensee’s business or affairs
• For organisations with a board, the person responsible for chairing the board
• The person responsible for the licensee’s anti-money laundering and counter-terrorist financing function
• The person responsible for the submission of reports of known or suspected money laundering or terrorist-financing activity

More info: Regulatory returns changes – effective from 1 July 2024 (gamblingcommission.gov.uk)

Malta

New game providers notification process

From August 1, notifications of new game providers, which are submitted via the Malta Gaming Authority’s licensee portal, must be accompanied by the following documentation:?

• Updated key technical set-up and essential components
• Updated specifications of the gaming system

A key person or director must also provide a declaration covering:

• The formal name of the game provider, and the respective authorisation number
• The services being offered by the game provider
• Any jackpot details
• Confirmation that any relevant documentation has been updated

If more than one game provider is being integrated, a declaration for each must be submitted within the same application.

Certified Countries

Lithuania

Proposals to increase the tax rate for a number of betting activities from 20% of GGR to 22% have been approved by the country’s legislative body. If approved by the legislative brand of the government, the news laws will take effect on January 1, 2025.?

Peru

All online gambling operators must be licensed and authorised to operate in Peru from September. Forms and declarations for online gambling taxes are not yet published.?

Denmark

Game suppliers will need to have a licence to supply betting and online casino games to Danish gambling licensees from January 1, 2025. Applications can be made for a licence from the start of September, with information on the requirements available on the Danish Gambling Authority’s website.

Suppliers' games, platforms, business procedures and business systems must be tested and inspected by an accredited testing company before games can be supplied to gambling operators.

A new portal for the management of game certificates is expected to launch at the start of October.

Need more information?

Our expert Licensing and Regulatory Compliance Team ensures Altenar has the necessary licences and procedures to meet regulatory requirements, speeding up the go-live process for operators and ensuring a smooth licensing process. Get in touch to discuss your sportsbook needs and hear how Altenar’s expertise can provide a competitive edge.

Disclaimer

This information is not intended to be legal advice and is solely extracted from open sources. It should not be relied upon as a substitute for professional legal advice and Altenar does not accept any liability in relation to its use.?