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Compliance Updates

OTC: DRCR, Swifty Global (Dear Cashmere Holding Company), Updates on the Status of its Gambling Licenses

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OTC: DRCR, Swifty Global (Dear Cashmere Holding Company), Updates on the Status of its Gambling Licenses

 

Dear Cashmere Holding Company, known as Swifty Global (Swifty), is a technology company focused on creating groundbreaking solutions in the Financial and Sports Betting Sectors. The company has developed two disruptive mobile applications (apps) for sports predictions and a digital wallet which encompasses Artificial Intelligence (AI) and Cryptocurrency/Blockchain Transactions. Patent applications have already been submitted and the mobile apps will be launched during the fourth quarter of 2021, following the imminent approval of Swifty Global’s gambling license.

The Swifty Predictions app offers betting opportunities on every major global sport league, including NFL, NHL, NBA, Football (soccer), Cricket, Rugby, Golf, Boxing, UFC, Tennis, Horse Racing, Motor Racing, Snooker and more.

To allow legal participation, Swifty has several gambling licenses pending in various regions around the world and intends to complete global licensing within 12 months. The Curaçao license is the first license which is expected very soon. The application and compliance process has successfully been completed and Swifty now only awaits the physical certification to be delivered which is expected very soon. The Curaçao license covers most of the world markets and less mainstream, but nonetheless, very important and sizeable markets such as Africa, India, and most of Europe, which equates to a population of approximately 3.34 billion. The license covers India, which has a population of well over 1 billion and is obsessed with cricket and European football (Soccer). With the Curaçao license in place, Swifty will have an opportunity to provide the Swifty Sports Predictions app and the Swifty wallet to this valuable market. The same license also covers Canada, France, Spain, Portugal, Ireland, Germany, and Italy, all who have huge betting populations that will be able to use Swifty. The Curaçao license will give Swifty access to passionate and lucrative sports betting populations, the ideal springboard for further global growth as further licenses are approved.

The second license which Swifty has applied for, is for the significantly more mainstream market of the United Kingdom (UK), which the company hopes to have approved in the 1st quarter of 2022. The UK license naturally allows Swifty to participate in the UK and Northern Ireland market which currently has 31.6 million gamblers with each person spending an average of $ 182 per year.

The UK license is well known to be one of the most difficult to obtain. So far, Swifty is close to completing the compliance phase of the approval process and then will only have the security testing to undergo in the first quarter of 2022 which the company believes will be successful based on the security testing it has already been conducting.

Leading into the main market of the United States, Swifty has appointed a US attorney who specializes in Gambling Licenses with a very successful track record, to apply for licensing in every state. This will be a gradual rollout due to the vast scope of the project, however we would anticipate US licenses to be approved, state by state, throughout 2022.

Whilst the appropriate licensing is a laborious, tedious, and frustrating task, it is also a huge advantage to Swifty once all the licenses are approved. The IP value of the licenses is substantial and creates a high entry barrier for new players in the market. Swifty is excited about the value that each approved license could add to the company’s valuation. The company is fully compliant with all the important global compliance aspects and includes some of the most sophisticated software such as, KYC (Know Your Customer), AML (Anti Money laundering) and Risk Management software. The broad spectrum of the compliance requirements is very similar globally, with only a few localized rules that differ in each region.

The Swifty product will enter its beta testing phasing this quarter. The sign up for beta testing is closed and 150 people will test the product in various real-life scenarios using mock currency instead of real currency. The beta testing allows users to provide feedback on the real scenarios outside of the controlled testing environment. Beta testing will also allow users to familiarize themselves with the app and spread the word in preparation of the main launch.

Although the company will engage in a multi-million-dollar marketing campaign as the licenses are approved the company does anticipate a large amount of viral marketing to take place in the early stages.

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The Swifty app will be available on the Apple App store for iOS and the Play store for Android and there will also be a web-based version available.

Exciting additional features that will be rolled out over coming quarters will be reality TV and lifestyle predictions for shows like Love Island and The Bachelor. Swifty is very proud to be implementing its innovative peer-to-peer betting module which will be released in due course. Through this, users will be able to create their own bets and side bets amongst friends and the app will lock the bet amount in their Swifty Wallet. This will allow the group to participate in the bet and the app will pay out to the winner on the closing of the bet. Swifty believes this feature will be revolutionary to the global social betting and prediction globally.

Swifty is engaging a leading sports agent to negotiate licensing arrangements that will allow Swifty to produce NFT player cards which will be bought and sold via the Swifty Wallet and may be awarded to users as a form of a loyalty reward. Swifty will be announcing much more information on this development soon.

With an extremely tight share structure, Swifty aims to deliver significant value to its loyal shareholder base. The company has a steady pipeline of products and enhancements and very exciting features to roll out to customers and shareholders.

Swifty Global CEO, James Gibbons, commented: “The skilled Swifty team has worked extremely hard at developing what is the most innovative app in the sports betting market and we are looking forward to starting the Beta testing. We are extremely excited for the first license to be issued which will bring the project, which has been many years in the making, to reality. Launching this product is the first phase of several products which we cannot wait to share with the market. Management has already started in the background with preparing Swifty for an eventual move to the big boards once the licensing is realized and the audit is complete.”

Compliance Updates

Nebraska: Proposal to Legalize Mobile Sports Betting Advances

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Mobile online sports betting would be legal in Nebraska under a bill advancing in the Legislature, but trouble could still lie ahead for the proposal.

Sen. Eliot Bostar introduced the proposed state constitutional amendment that would let people make sports bets on their phone from anywhere in the state. Bostar says Nebraskans are already betting, either by going to a casino, a neighboring state or using illegal, unregulated platforms.

“I introduced this not because I think gambling is a great thing, not because I want everyone to do it, not because I think you should like it, or anyone should, but fundamentally because it’s already happening. Our prohibition on mobile sports betting here in save Nebraska is not stopping anyone from engaging in that activity,” Bostar said.

Sen. Jason Prokop has made the proposal his priority this session. Prokup talked about Nebraskans who cross the Mormon Bridge into Iowa and congregate at the first off I-680 to place bets during the football season.

“There’s no reason why a corn field in Iowa, just off the interstate, should be touted as the busiest corn field in America. Senators, those are your and my constituents using this product, spending their money and paying taxes in another state, simply because our Constitution does not provide for it,” he said.

Bostar said Nebraska is losing tax revenue.

“Nebraska is currently missing out on a $1.6 billion state online industry and $32 million in annual tax revenue, which instead goes to neighboring states like Iowa, Colorado, Kansas and Wyoming. Legalizing online mobile sports betting through LR20CA could significantly boost state revenues dedicated to the property tax credit fund, helping to address the burden of high property taxes,” he said.

Sen. Jared Storm seemed unmoved.

“I’ve been in the body for three months. I’m a freshman senator, and it seems like the common thread I keep seeing here is, if you want to pass your bill or get something through here, you say it’s going to lower property taxes. That’s kind of the buzz word,” he said.

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Strong offered a different interpretation of any tax revenue.

“I would view this as taxation by exploitation. We’re going to exploit people to get tax revenue out of them, mainly young men. So you’re going to have students at UNL, students at UNK, other universities, who are going to gamble away their tuition on online sports betting. They’re going to gamble away their rent online sports gambling. I think as state senators, we have to stand up for those people,” he said.

Sen. Rob Clements read a letter from a mother whose son got in financial trouble from sports betting and died by suicide last year.

“The $10,000 bet my son frenetically placed on a losing NHL Stanley Cup game during the last 48 hours of his life, was followed by a series of still more frenetic bets placed in isolation on his phone as he tried to win back his massive loss. It is clear that he died alone,” Clements read.

But Sen. Ben Hansen argued incidents like that should not be enough to prohibit sports betting.

“How far do we restrict people’s liberties and their rights? This is always a tough one, because we do see some of the ills, the pitfalls some of our citizens can fall into. But do we take that right away from them for that reason? If we take away that right because of addictive factors, we better get rid of alcohol. We better get rid of smoking. We better get rid of refined sugar, one of the most addictive things that we legalize here in Nebraska. We better get rid of a lot of addictive behaviors in the state of Nebraska,” he said.

Sen. Rick Holdcroft read a letter from former Congressman Tom Osborne, former Gov. Kay Orr, Sen. Pete Ricketts and State Auditor Mike Foley opposing the proposal.

“Legalizing online sports betting in Nebraska would turn every cell phone, laptop and tablet into a gambling device available 24 by seven, online sports betting can lead to new people developing gambling disorders, puts young men in the addiction bulls eye and will take money away from the main street Nebraska businesses,” he said.

Gov. Jim Pillen has supported legalizing online sports betting in the past. And Sen. Tom Brandt said the proposal should be approved.

“In Nebraska, alcohol, tobacco, gambling, guns, whether you wear a helmet, we let grown ups decide that. We let our people decide that. Does everybody make a good decision? They do not. There are consequences to some bad decisions, but we let them decide for themselves. Mobile betting should be the same way,” he said.

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But Sen. Brad von Gillern said mobile betting was an especially threatening form of gambling.

“My opposition to LR20CA is not from a moral position against gambling as a whole. I provided tons of data to you that illustrates that this is a predatory process that primarily pursues young men,” he said.

After about three hours of debate, senators voted 27-16 to give the bill first-round approval. But von Gillern vowed to filibuster it at the second round of debate, when opponents need only talk for four hours, instead of eight, before supporters can try to cut off debate and vote on the bill itself. That takes 33 votes, and von Gillern predicted it would be close.

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Compliance Updates

ESA Gaming gains Brazilian Certification

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ESA Gaming gains Brazilian Certification

 

Innovative games provider ESA Gaming has received Brazilian Certification as it continues to focus on new markets.

The certification will allow ESA Gaming to distribute both its games and Game Aggregator System (GAS), to players and operators throughout Brazil.

With a mix of non-traditional content such as football-themed mine games and crash style games, as well as established casino classics, ESA’s games have a proven cross-selling capacity, without cannibalisation, helping sportsbooks to prolong brand loyalty and add revenue.

ESA Gaming has enjoyed a positive 12 months of growth, signing numerous agreements in key territories, as well as expanding its portfolio with the addition of multiple slot titles and, most recently, its first Plinko game; Plinko Drops.

The supplier also holds certifications in Portugal, Italy, Greece, Colombia, South Africa as well as an MGA supplier licence, highlighting the provider’s intentions to grow its product range in regulated markets.

Thomas Smallwood, CCO at ESA Gaming, said: “Receiving our Brazilian certification is a hugely exciting moment for us in our step towards expansion in LatAm. The Brazilian market has a huge potential and we are eager to see how our titles are received.

“It is the first important milestone of 2025 for us that we hope can act as a springboard for further growth.”

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Compliance Updates

MGCB Opens Investigations into Unlicensed Sports Prediction Markets

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The Michigan Gaming Control Board (MGCB) has initiated investigations into unlicensed sports prediction markets operating within the state. These platforms, which bypass Michigan’s regulatory framework, have raised significant concerns about consumer protections.

Michigan’s investigations align with similar actions already taken by other state regulatory bodies and focus on how this form of unlicensed sports betting may jeopardize the integrity of Michigan’s legal sports betting system.

“We take consumer protection very seriously and are committed to ensuring that Michigan residents are engaging with safe and legal sports betting options. Unlicensed entities not only pose a risk to consumers but also undercut the integrity and revenue-generating potential of the state’s regulated sports betting industry. We are actively investigating these practices and will pursue appropriate measures to protect Michigan bettors,” said Henry Williams, Executive Director of the MGCB.

The unlicensed platforms offer what they describe as innovative financial products that allow users to trade their predictions on the outcomes of sports events. By sidestepping the regulatory protections of Michigan’s legal sports betting market, these platforms pose a serious risk to consumers. They create potential confusion among bettors and blur the line between sports betting as entertainment and sports betting as a financial trading vehicle.

Beyond concerns over lost tax revenue, these unregulated platforms may expose Michigan residents to various risks, including fraud, identity theft, and inadequate data security. Unlike licensed sportsbooks, which are required to adhere to strict regulations including age verification, Know Your Customer (KYC) protocols, anti-money laundering (AML) measures, self-exclusion policies, and integrity monitoring, unlicensed entities may operate without these safeguards. As a result, consumers can be left vulnerable to financial harm.

The MGCB is also concerned that promoting sports betting as an investment opportunity directly contradicts Michigan’s established responsible gaming principles.

“Sports betting is meant to be a form of entertainment, not a financial investment. By framing sports contracts as investment vehicles, these platforms risk confusing consumers and undermining the state’s commitment to responsible gaming. Moreover, many of these unlicensed platforms are often accessible to individuals as young as 18, in stark contrast to Michigan’s 21+ age requirement for legal sports betting,” Williams added.

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