Liroyen Advisory’s Post

Key Amendments to the Gaming Act (Cap. 41) in Tanzania As part of the Finance Act 2024, significant updates have been introduced to modernize the regulation of gaming activities in Tanzania. Here are the key highlights: Integration with the Gaming Act: These amendments are intended to be read alongside the existing Gaming Act, ensuring clarity and alignment in regulatory provisions. Amendment of Section 26: The inclusion of “or token used in slot machines” recognizes tokens as legitimate currency in gaming establishments, broadening the scope of regulated gaming activities. Introduction of Dealer’s Certificate: A new requirement for dealers to obtain a “dealer’s certificate on gaming activities” promotes professionalism and integrity, ensuring they are well-versed in gaming laws and practices. Renumbering of Provisions: Existing paragraphs have been renumbered to accommodate new changes, enhancing the clarity and organization of the law. Amendment of Section 73: The removal of “or coins” signifies a shift toward modern practices that favor chips or tokens, improving security and operational efficiency. Prohibition on Unauthorized Currency: The use of anything other than approved chips or tokens in gaming is now prohibited, helping to mitigate fraud and ensure compliance with regulatory standards. Commencement of Certain Provisions: Notably, provisions under section 23 will take effect on January 1, 2025, allowing stakeholders ample time to adapt to these new regulations. These amendments mark a significant step forward in ensuring a fair and regulated gaming environment in Tanzania. Exciting times ahead for the industry!

Regulation is becoming increasingly important and is being discussed more and more often - and that includes the gaming industry. ✨ Pocket Gamer Connects has just taken place in London - we weren't there, but there are some very good reports and thoughts about it, for example from George Osborn In his video Games Industry Memo (link can be found in the first comment below this post), Osborne touches on three main topics of the PGC; one of them is the topic of regulation and his observations on it: ✔️ In contrast to previous years, there was a noticeable amount of talk about legal and regulatory issues at the conference. ✔️ The industry is openly discussing the impact of regulatory changes, particularly in relation to competition and online safety. ✔️ Companies are concerned about the consequences of non-compliance with new legislation, such as the EU Digital Service Act and the UK Online Safety Act.   Well, we seem to be really on top of the trend because we've been talking about this issue for some time and we saw the last point in particular coming. With our approach to the development and conception of FiPME, we want to consciously counter this concern, because with us, developers and publishers have a partner through whom the trade in in-game items is in line with regulation and compliance. To underline this, we are a member of PolyReg, which is supervised by Finma. 🚀   We would be happy to explain this to you in detail in a personal meeting. Just get in touch with us. 🤝   #Regulation #PGCLondon #LegalCompliance #IndustryTrends #EUdigitalServiceAct #GamingIndustry #Fintech #Regtech '#Startup #ItemTrade #NoGreyMarket     Source of the image: Video Games Industry Memo (link in the first comment below)

The UK has been and continues to be one of the cornerstones of the European games industry ecosystem. It has been a pleasure to help European game industry trade delegations from France, Finland, Romania, Italy, Croatia, and Sweden to access the Games Finance Market at the London Games Festival. First of all, the UK is not just home to one of the oldest games industries in Europe – it is one of the birthplaces of digital games. The first British video game can arguably be traced back to Alan Turing creating a chess computer programme in the 1950s, but it was in the 1980s that the UK became a global pioneer in the field of home computing hardware (e.g. Sinclair) and the games that made them sing. Secondly, the UK has talent. According to the UK games industry association TIGA's latest Making Games in the UK report, the UK remains Europe's biggest games industry hub with over 24,000 full-time employees. While London employs over 22% of the workforce, 77% of all games development staff in the UK are employed outside of the capital. Thirdly, the UK is a world-renowned hub of games education institutions, providing the next generation of skills and talent our industry needs. Abertay University in Dundee, Scotland, was the first university in the world to offer a dedicated video games course. TIGA established a University Accreditation process in January 2015 that now boasts over 40 courses, producing graduates of the highest quality. Thirdly, the UK games industry has an entrepreneurial mindset. Between December 2021 and April 2023, studio numbers grew from 1 500 to 1 800. Over the same period, studios' annual investment rose from £1.3 billion to £1.66 billion. Combined direct and indirect tax revenues generated by the sector for the Treasury are estimated to have increased from £1.2 billion to £1.5 billion. Fourthly, the UK games industry has also benefitted from the fact that, for decades, global game industry giants have chosen to establish their European headquarters in the country. The UK is home to more game publishers than any other European country.   Furthermore, the sector's long-term prospects are bolstered by rising Foreign Direct Investment attracted by the country's highly skilled workforce and Video Games Tax Relief (now known as Video Games Expenditure Credit, or VGEC), which reduces the cost of game development. However, the impact of Brexit means the UK will have to work much harder to maintain its position, especially with the associated changes to its immigration system hindering talent attraction.    As such, TIGA lobbies the UK Government hard to do more in terms of industry support, across funding, skills and education. If the UK is to win an even larger share of the growing market for video games, the UK government should enhance the generosity of the VGEC and introduce a Video Games Investment Fund to help more small studios scale up, among many other measures.

Our Q2 2024 Media and Marketing Services sector report shows that gaming transactions were the most popular sub-sector of TV, film and entertainment for acquirers. The UK has a global reputation for creativity, a strong talent pool and an established gaming ecosystem, making it an attractive sector to overseas investors. It is of little surprise, therefore, that BFI's report last year showed that overseas entities now own more than 50% of UK developers. Owners of businesses looking to maximise their proceeds through a sale process should start thinking about how to optimise their business in preparation much sooner than you would think.... https://lnkd.in/efKPEGjt

𝗧𝗼𝗽-𝗨𝗽 𝗧𝗵𝘂𝗿𝘀𝗱𝗮𝘆𝘀 ! The 𝗨𝗦 𝗗𝗲𝗽𝗮𝗿𝘁𝗺𝗲𝗻𝘁 𝗼𝗳 𝘁𝗵𝗲 𝗜𝗻𝘁𝗲𝗿𝗶𝗼𝗿 recently announced a final rule to update the federal regulations regarding Class III Tribal State Gaming Compacts. The native American gaming industry remains one of the most significant drivers of tribal economic development in the native American lands. The updated regulations provide clearer guidance for tribes and states to negotiate gaming compacts required by the Indian Gaming and Regulatory Act and a more transparent and orderly process for tribes who are seeking the Department’s approval of their compacts with states. The final rule reflects input and recommendations provided by tribes during two listening sessions and seven formal consultation sessions, as well as written comments from tribes and the public submitted to the Department. The new regulations will be effective 30 days after being published in the 𝗙𝗲𝗱𝗲𝗿𝗮𝗹 𝗥𝗲𝗴𝗶𝘀𝘁𝗲𝗿, which is expected in the coming days. To know more, 𝗿𝗲𝗮𝗱 𝗵𝗲𝗿𝗲: https://lnkd.in/gdc7UbY7   #USA #OnlineGaming #Regulations #Gaming #LegalInsights #Postoftheday #Trending #LegalUpdates #SportsLawFirm

Canada has signaled heightened reviews of gaming sector foreign investment with the announcement of new directions on the application of the Investment Canada Act in the interactive digital media sector. Foreign investors and Canadian businesses in the sector should look to assess their investment plans and consult with the proper authorities on the applicability of these new policies to their business. Find out more in this #VideoGames and #InteractiveEntertainmentLaw update by Ryan Black and Gavyn Backus: https://lnkd.in/gQ6YukBU

What happened in #gamblingregulation last week? Some highlights 👇 🇺🇸 Lights go out on GEORGIA's 2024 sports-betting hopes: ℹ️ Sports-betting legislation failed to reach the floor of the Georgia House of Representatives before the clock struck midnight on the state’s legislative session, the latest blow to the gaming industry’s expansion hopes in 2024. ➡️ More: https://lnkd.in/eq_n7cCT 🇸🇪 Yggdrasil receives SWEDEN's first fine for supplying a banned operator: ℹ️ The Swedish Gambling Authority has issued its first fine for supplying an unlicensed operator on the country’s prohibition list to Yggdrasil Gaming. ➡️ More: https://lnkd.in/eEs7GayZ 🇨🇼 CURAÇAO announces application submissions deadline extension: ℹ️ Curaçao’s Gaming Control Board has extended the deadline for application submissions for its new look licences by one month until April 30, 2024. ➡️ More: https://lnkd.in/eT9DWGiC Plus, Vixio also reported on developments from: 🇧🇷 Brazil 🇩🇰 Denmark 🇭🇺 Hungary 🇺🇸 Pennsylvania 🇹🇭 Thailand 🇬🇧 UK ... and many more. _____________________________ Gambling regulation is dynamic and complex. Need an easier way to understand the regulations in each jurisdiction, and to stay-ahead of the latest changes/developments? Message me to learn more about Vixio GamblingCompliance! #gamblingcompliance #gamblingindustry #gambling #gaminglaw

Decoding the Brazilian Gaming Market with CompliancePlay 🌎 The Brazilian gaming market is on the brink of significant transformation with new legislative and regulatory developments. Recent discussions shed light on the intricacies and opportunities ahead. Key Takeaways: 1. Media Restrictions: New regulations will prohibit media activities for unregulated operators, marking a significant shift. The emphasis will be on directing the public towards regulated platforms, such as .bet.br sites, to ensure clarity and compliance. 2. Market Coverage: Despite media restrictions, it's expected that regulated operators can capture 80% of the market. This move aims to establish a clear distinction between regulated and unregulated entities. 3. Taxation: While some operators may be concerned about taxes, the rates are considered manageable. This is likely to encourage a shift from the gray market to the official, regulated market. 4. Transition to Regulation: As Brazil prepares for a full regulatory launch by January, a major transition is anticipated. Legal operators are expected to take the forefront, replacing the current gray market players. 5. Government Initiatives: The government has already allocated funds in anticipation of the regulated market's success, indicating strong support for this transition. For businesses looking to enter or expand in the Brazilian gaming sector, understanding these developments is crucial. Staying informed with CompliancePlay and prepared will be key to navigating this evolving landscape and capitalizing on the growth opportunities. Contact us today info@complianceplay.com #BrazilGaming #iGaming #RegulatoryCompliance #GamingIndustry #GrowthOpportunities #LegislativeUpdates

What happened in #gamblingregulation last week? Some highlights 👇 🇨🇦 ALBERTA official confirms plan to follow Ontario gaming model: ℹ️ A top Albertan government official confirmed Thursday (June 20) that the province plans to replicate much of Ontario’s private online gaming model as part of its own gambling overhaul. ➡️ More: https://lnkd.in/gmP88ihr 🇺🇸 U.S. Supreme Court rejects challenge to Florida online sports betting: ℹ️ The U.S. Supreme Court has rejected an effort to overturn online sports betting in Florida, denying a request by West Flagler Associates and Bonita-Fort Myers Corp. to hear their petition questioning the legality of a 2021 gaming compact between the state and the Seminole Tribe. ➡️ More: https://lnkd.in/gv3CvAah 🇩🇰 DENMARK supplier licensing turns spotlight on aggregators: ℹ️ Aggregators may need to apply for supplier licences in Denmark if they have compliance oversight for the games they supply, as the industry prepares for a new 2025 regulatory regime. ➡️ More: https://lnkd.in/g34RaUD6 Plus, Vixio also reported on developments from: 🇧🇷 Brazil 🇨🇱 Chile 🇮🇳 India 🇮🇪 Ireland 🇱🇹 Lithuania 🇵🇭 Philippines ... and many more. _____________________________ Gambling regulation is dynamic and complex. Need an easier way to understand the regulations in each jurisdiction, and to stay-ahead of the latest changes/developments? Message me to learn more about the Vixio GamblingCompliance platform! #gamblingcompliance #gamblingindustry #gambling #gaminglaw

Macau’s gross gaming revenue (GGR) reached MOP19.75 billion ($2.46 billion) in August, representing a recovery to 81 percent of the GGR recorded in August 2019. This marks the best relative comparison since Macau’s reopening following the pandemic.