Compliance Updates
Swifty Global’s New Innovative B2B Gaming Platform Undergoes GLI Certification
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Dear Cashmere Holding Company also known as Swifty Global (Swifty), is a cutting-edge technology firm focused on creating ground-breaking solutions in the sports betting sector. Swifty aims to drive shareholder value through accelerated innovation and enhanced usability of the products it develops. With licenses spanning several global jurisdictions, Swifty has successfully brought to market a revolutionary suite of offerings. This includes the companyâs proprietary swipe betting sports prediction application, as well as its traditional sportsbook and casino gaming platform.
Swifty Global is pleased to announce that it has started the certification process for its new innovative B2B gaming platform with Gaming Laboratories International (GLI), the gaming industry’s gold standard for testing and certification. Once fully certified, this endorsement will not only affirm Swifty’s ongoing commitment to the highest industry and regulatory standards, but will also underscore the continued exceptional quality of the companyâs technology offering.
The newly developed B2B platform sits at the center of the Swifty Global scaling and growth strategy and will unlock a substantial new revenue stream for the business. The platform will operate on a Software-as-a-Service (SaaS) basis, combining a monthly subscription model with a revenue-sharing component and will enable Swifty clients to seamlessly integrate with the companyâs state-of-the-art technology via a white-label solution.
ââInitiating the process for GLI certification marks a significant milestone for Swifty,ââ commented James Gibbons, CEO of Swifty Global. ââWhile we’re at the beginning of this certification process for our B2B platform, reaching this stage not only marks the culmination of over a year’s rigorous development of the platform, but it also sets the stage for the next phase of our growth strategy. By securing the GLI endorsement, it will effectively certify our B2B platform readiness for deployment across the majority of European markets and with this in mind we have already taken proactive steps to comply with regulatory standards in key European markets in addition to Gibraltar, Isle of Man, and South Africa,â added Gibbons.
In line with this, Swifty is actively pursuing certification under South Africa’s SANS 1718 standard. Established by South Africa’s gambling regulator, this standard is a crucial step before the platform’s introduction and official launch in the South African market. ââThe Swifty team are working tirelessly behind the scenes in order to secure this license before the close of Q4 2023. I am confident this will be achieved and once accomplished, it will mark the expansion of Swifty Global into the lucrative $1.8 billion South African gambling sector,ââ said Gibbons.
Swifty Global anticipates a substantial increase in revenue generation over the next 6 months. This surge in revenue is expected to result from the ongoing international expansion of the company, as well as the introduction of its new B2B offering and the innovative business model through which this will be delivered to customers.
ââSwifty is now entering an exciting new phase where the groundwork and technological development of the new B2B platform, which has been underway behind the scenes for the last 12 months, is ready to take center stage,ââ commented Gibbons. ââThe introduction of this platform and the Software-as-a-Service (SaaS) subscription model heralds a new era for Swifty, introducing a recurring fee model that targets a fresh set of customers. This approach not only ensures a more predictable and sustainable revenue stream but also enhances our existing revenue model. I have no doubt that this will substantially boost our already impressive revenue and increase the company’s attractiveness even further from an investor perspective,” concluded Gibbons.
Compliance Updates
Washingtonâs Lottery Achieves Nationâs Highest Level of Responsible Gambling Certification
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Washingtonâs Lottery announced that it has achieved the highest level of responsible gambling certification in the country. As acknowledged by the National Council on Problem Gambling (NCPG) and the North American Association of State and Provincial Lotteries (NASPL), Washingtonâs Lottery officially was certified for âResponsible Gambling Verification Best Practices at the Sustaining Levelâ in December 2024, the culmination of a process that began with certification at the Planning Level in 2019 and Implementation Level in 2021.
Washingtonâs Lottery is only the third state lottery in addition to Virginia and Ohio to achieve this milestone. NCPG and NASPL also recognize nine other state lotteries that have achieved a similar certification through the World Lottery Association.
âI canât begin to express how proud I am of the work our team has done to achieve this important standard. We have a unique obligation as a state agency that sells a gambling product and need to balance the goal of raising money for important state initiatives like education with the need to acknowledge and assist the small percentage of players who may experience gambling-related distress. We take that work very seriously and weave it into all aspects of our jobs,â Kristi Weeks, Director of Legal Services for Washingtonâs Lottery, said.
To receive the Sustaining Level certification, Washingtonâs Lottery was evaluated by a team of four independent experts, who reviewed the lotteryâs efforts in eight key categories related to responsible gambling: planning, employee training, retailer training, public education and awareness, product oversight, research, advertising, and resources.
âThe key to our success has been the integration of responsible gambling initiatives into each and every employeeâs position rather than centralizing it into only one or a few positions,â Weeks added.
Compliance Updates
IBIA establishes innovative Payment Provider Forum to protect the integrity of the sports betting market in Brazil from financial fraud
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Six payment providers have signed a Declaration of Commitment and Participation
In a pioneering move to bolster the integrity of Brazil’s newly regulated and rapidly expanding sports betting market, the International Betting Integrity Association (IBIA) today launched a dedicated Payment Provider Forum with the explicit goal of protecting the market from financial fraud related to competition manipulation. The project has launched with six prominent payment providers already signed up to a Declaration of Commitment and Participation: Bazk, Z.ro Bank, OneKey Payments, OKTO, VPag and Pay4Fun.
With IBIAâs members forecast to generate over 70% of remote gross gambling revenue in Brazil, IBIA will play a key role in protecting the integrity of the sports betting market. Payment providers and other related financial services can also play a crucial role in ensuring the integrity of sports betting. The IBIA Payment Provider Forum has therefore been established to foster collaborative activities that contribute to a robust, secure and responsible gambling market in Brazil.
Regulatory and other institutions linked to financial payments and competition manipulation will be invited to join Forum meetings and engage in the development and implementation of preventative actions against financial fraud.
The Forum will also benefit from IBIA’s extensive knowledge of sports betting integrity issues and trends, obtained from its global integrity monitoring and data intelligence network. That includes many of the world’s largest regulated betting operators, active across six continents, and partnerships with leading sports bodies and gambling regulatory authorities. It will also leverage IBIA’s expertise in establishing industry standards, such as its Data Standards Kitemark.
Khalid Ali, CEO at IBIA, said: “Cooperation between financial services, regulatory authorities and betting operators is essential to address the challenges from financial fraud and to maximise the potential of the sector in Brazil. IBIA is therefore delighted that these major payment institutions have agreed to explore collaborative activities to protect the market. Working together, we can create a sustainable and thriving sports betting market in Brazil that benefits all stakeholders. Cross-sector partnership working is a central pillar of IBIAâs global activity, and the association will be assessing the potential benefits of replicating this group in a wider international setting.â
To that end, the Declarationâs signatories have committed to:
- Collaborate in the development of standards and best practices for payment processing.
- Engage with regulatory bodies to defend a robust, fair and effective regulatory framework.
- Promote responsible gambling and consumer, market and sporting event protection.
- Share knowledge and expertise to innovate and improve the payments ecosystem.
- Maintain the highest standards of ethical conduct and compliance with regulations.
The first meeting of the Forum will take place during SBC Rio.
Compliance Updates
Aristocrat Interactive Secures Approval for OASIS Rollout in Washington
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Aristocrat Interactive, the rebranded online Real Money Gaming (RMG) division of Aristocrat, has received certification from the Washington State Gambling Commission to roll out its OASIS system to Class III operators across the State. OASIS is a comprehensive casino management system designed to offer a superior experience for land and sea-based operators.
Through this new jurisdiction approval, OASIS is now available to all 29 federally recognized tribal casinos in the state with a Class III Gaming Compact. This approval builds on OASISâ existing authorization for Class II gaming in Washington, as BJâs Bingo & Gaming in Fife, WA has used Aristocrat Interactiveâs OASIS system for many years.
âWe are thrilled that our OASIS system has been licensed by the Washington State Gambling Commission, and we look forward to working with more Casinos as we expand our footprint across the state. We strive to provide our casino partners with innovative solutions, helping them stand apart from their competition,â Kristen Jones, VP Sales of Aristocrat Interactive Gaming Systems, said.
With 360 partners across North America, Aristocrat Interactive Gaming Systemsâ product suite has proven to be a key addition to casinos looking to enhance their operational capabilities. Quinault Beach Resort will be the first operator to incorporate the OASIS system through this new approval.
âWe look forward to being the first-Class III casino in Washington to utilize the OASIS system across our casino floor. It is a cutting-edge solution that we are confident will lead to increased efficiencies across our operations,â Mark Palmer, GM at Quinault Beach Resort, said.
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