Weekend Conversation Corner – September, 11
Welcome to the most recent instalment of our Focus Gaming News Weekend Conversation Corner, a brief overview of the major headlines from the past week that have captured global attention. As we condense the flurry of events into a focused summary, we will highlight the key stories that have shaped the narrative, impacted policies, and sparked conversations. Join us as we cut through the noise and provide a concise overview of the week’s significant developments, keeping you informed on what truly counts in today’s fast-changing world.
Stay informed, stay inspired, and keep gaming on. Have a fantastic weekend ahead!
FATF issues new AML risk indicators for igaming transactions
The Financial Action Task Force (FATF) has issued an alert to international gambling regulators regarding the increased risks of money laundering and terrorist financing in the online and unlicensed gambling sector. The FATF has introduced new risk indicators, including the use of multiple accounts and payment methods, suspicious betting patterns, and links to organised crime. Following a global review, illegal gambling has been identified as a major threat, prompting the FATF to urge governments to enhance oversight. The FATF has also provided new risk indicators for the gaming sector to help identify suspicious activity related to money laundering and terrorist financing. The organisation emphasised the need for robust safeguards and international cooperation to combat criminal abuse in the gambling industry.
UK survey: 77% say arcade closures would harm seaside towns amid MGD hike threat
The article discusses a YouGov survey showing that 77 per cent of adults believe arcade closures would negatively impact seaside towns. Bacta warns that a proposed increase in Machine Games Duty could lead to venue closures, affecting seaside tourism. President Joseph Cullis emphasises the importance of arcades to the British seaside holiday experience and the wider economy. He highlights the reliance of seaside arcades on gaming revenues for year-round viability and the potential ripple effect on other businesses. The survey findings indicate strong public support for maintaining seaside amusement halls. The article underscores the significance of arcades in attracting visitors and generating revenue for coastal areas, urging policymakers to consider the implications of tax hikes on these businesses.
Cyprus eyes gambling ban for welfare recipients
Lawmakers and regulators in Cyprus are discussing ways to prevent recipients of the Guaranteed Minimum Income (GMI) from using welfare payments for gambling. Concerns have been raised about vulnerable households misusing state support funds. The Gaming and Casino Supervision Commission has observed increased gambling activity around GMI payment dates and proposed cross-checking beneficiary records with casino membership databases. However, challenges such as limited access to banking information and privacy concerns have complicated enforcement efforts. Suggestions like issuing special identification cards for GMI beneficiaries have been met with resistance due to fears of stigmatisation. The focus has also shifted to online gambling, with officials considering digital monitoring as a more effective method. In parallel, Cyprus’s National Betting Authority will host Safe Gaming Week to promote responsible gambling and raise awareness about prevention and self-control.
British chancellor reportedly considering Machine Games Duty hike for Autumn Budget
New chancellor John Healey is considering doubling Machine Games Duty rates, with proposals to increase the minimum rate from 5 to 10 per cent and the standard rate from 20 to 40 per cent. This move is supported by former prime minister Gordon Brown and aims to generate additional revenue for defence spending and cost-of-living measures. Industry stakeholders have expressed concerns about the potential impact on land-based gambling businesses and horse racing, warning of possible closures and reduced levy receipts. The Autumn Budget, scheduled for October 28, will reveal the final decision. Previous increases in Remote Gaming Duty have already led to shop closures, and further tax hikes could exacerbate job losses and harm the gambling industry.
Future of Hungarian gambling regulator in doubt
The Hungarian government is considering disbanding the Supervisory Authority for Regulated Activities (SZTFH) and transferring its responsibilities to bodies under direct government control. The Justice Minister has been tasked with evaluating the regulator’s operations and legal framework. The SZTFH, established five years ago, regulates various sectors including gambling. Despite controversies, the regulator has defended its record, citing successes in tackling illegal gambling and underage tobacco sales. The new government under Péter Magyar is also reviewing other state-operated institutions, including the lottery and sports betting operator Szerencsejáték Zrt. Changes in leadership have already been made at Szerencsejáték Zrt to eliminate political influence and introduce transparent management. The government is also reviewing the allocation of gambling revenues from the Fidesz era.
