Compliance Updates
Kinectify Raises Series Seed Round Co-Led by OpenBet, Acies Investments, and the Eastern Band of the Cherokee Indians
Kinectify, the leading compliance software and advisory company focused on anti-money laundering (AML) in the gaming industry, today announced that it has raised a preferred Seed round. The investment was co-led by OpenBet, Acies Investments, and the Eastern Band of Cherokee Indians, with participation from Eilers & Krejcik Gaming and prominent individuals and executives in the gaming industry such as Seth Schorr, CEO of Fifth Street Gaming; Seth Young, Chief Strategy Officer of Fifth Street Gaming; Quinton Singleton, industry veteran venturer and investor; Lauren Lemmer, Chief Compliance Officer & Head of Operations for Wagr; and the management team at The Strategy Organization.
“We are excited to partner with such seasoned strategic investors from inside gaming including suppliers and operators with deep expertise like OpenBet, Acies Investments, and EBCI,” said Joseph Martin, CEO of Kinectify. “This investment will accelerate our mission to provide an all-in-one solution for gaming risk management.”
Kinectify is the industry leading AML risk management technology company for the gaming industry. Its modern AML platform empowers clients in the gaming industry to efficiently manage their risk with real-time intelligence so they can focus on growing their businesses and not be bogged down by compliance concerns.
In addition, Kinectify’s advisory services enhance customers’ capacity with industry experts who can design and test programs, help meet compliance deadlines, and even allow customers to outsource the day-to-day administration of their compliance programs to Kinectify.
“EBCI is proud to be participating in Kinectify’s latest investment round,” said R. Scott Barber, CEO of EBCI Holdings, LLC. “Kinectify has been a great partner and we are excited to launch its platform at our Caesars Southern Indiana property and future locations.”
“We have been impressed by Kinectify’s team and product which fills a long-standing need in the gaming industry,” said Jordan Levin, CEO of OpenBet. “As the company continues to innovate and change the compliance industry, we’re thrilled to partner with them as they capitalize on the sizable market opportunity ahead.”
Edward King, Co-Founding Partner and Co-CIO of Acies, said: “We are excited to partner with Joseph and the Kinectify team who have created an exceptional AML and compliance platform that addresses mission critical services for both the land-based and mobile gaming ecosystem. We firmly believe Kinectify’s position in the market is unique and delivers truly valuable technology to its clients.”
Compliance Updates
JCM Global Receives Approval to Operate in West Virginia
JCM Global announced that it has successfully passed regulatory review and received a manufacturer’s license from the West Virginia Lottery Commission. The license enables JCM to directly sell to and service customers in the state.
“At JCM, we are committed to our customers. While attaining licensing was not required, we pursued it because it allows us to directly provide JCM’s leading technology and advanced systems, backed by our world-class service, and support, resulting in faster service times and simplifying the entire relationship between JCM and our customers,” said JCM SVP – Sales, Marketing & Operations Dave Kubajak in a statement.
JCM recently announced it has attained licenses in Colorado and New Mexico, bringing the company’s total number of active gaming licenses to 177.
In West Virginia, JCM will provide technology, including the iVIZION bill validator; ICB Intelligent Cash Box System, which boosts security and efficiencies across the gaming floor; and the GEN5 thermal printer, which delivers TITO, personalized promotions, and rewards directly to the player.
Compliance Updates
SYNOT Games Officially Certifies Over 140 Games in Brazil
SYNOT Games has announced that more than 140 of its games have now been officially certified in Brazil.
“We are delighted to announce that more than 140 of our games have now been officially certified in Brazil. This significant achievement allows us to expand our reach and introduce a diverse selection of games to this dynamic market. Brazil represents a key opportunity for growth, and we are committed to delivering exceptional gaming experiences to the Brazilian audience,” the Company said.
“We are thrilled to introduce our portfolio in Brazil, offering innovative and engaging gameplay that promises to captivate and entertain players,” Martina Krajci, CCO at SYNOT Games, said.
Compliance Updates
Delasport Now GLI-Certified for Sports Betting in Brazil
Delasport has just become one of the first suppliers to obtain a GLI certification for its sportsbook in Brazil, two weeks before the historical regulation comes into effect.
Continuing its global growth, Delasport is bringing several operators on board in Brazil. In order to complete the process, operators that are applying for a new Brazilian license have 30 days to provide all relevant platform certificates from the moment that they are notified by the regulator that their initial submission has been accepted. This is also the moment that they can pay the license fee. Still, failure to provide platform certificates will result in the application being placed on hold.
Delasport turned to Gaming Laboratories International (GLI) for the certification of its sportsbook against Brazilian technical standards. The historical partnership with GLI was further strengthened by the news, a few months back, that GLI had become the first laboratory to achieve the local accreditation to certify for betting systems, live game studios, and online games by the Secretaria De Prêmios e Apostas (SPA) in Brazil.
Delasport has successfully met all technical requirements for providing its sports betting solution to the largest country in South America. The certificate is evidence of the team’s experience, expertise, and determination to lead the way in key jurisdictions.
Obtaining a GLI certification for Brazil is a step towards cementing the trust players and operators have for Delasport’s products. This serves to show that the award-winning supplier is capable of meeting even the strictest industry standards for integrity and fairness.
“When we learnt that providing platform certificates to the regulator was on our partner operators’ critical path for obtaining the license, we immediately prioritized submitting the system to GLI for testing”, Delasport’s Chief Compliance Officer Filippo Ferri said. “Needless to say, GLI did a tremendous job of working with us to conduct the tests in record time, to match the submission deadline of some of our clients. I am also very proud of how our internal departments worked together to obtain this certificate, and of how they continue to push forward with the delivery of a datavault system that complies with SIGAP requirements.”
Operators that plan on entering the newly regulated Brazilian market will now have numerous advantages if they partner with Delasport. They will be able to provide their players with personalization features like My Sportsbook, My Event Builder, and My Combo that skyrocket revenues and retention.
Furthermore, Delasport’s KYC and AML provider is a market leader that guarantees the highest level of compliance for all operators that choose to go on this route.
Also, Delasport has already partnered with numerous local payment system providers and offers a real-time AI-powered Responsible Gambling system which can easily adapt to local regulations.
Last, but not least, operators will feel Delasport’s support from the get-go all the way to establishing themselves as a market leader. Delasport is knowledgeable of cultural and regional differences and can address all localization needs from the early stages of engagement.
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