Pragmatic Play collaborates with Chapinbet in Latin America
Pragmatic Play has solidified its presence in the Latin American igaming market through a new partnership with Chapinbet.
Under this agreement, Pragmatic Play will integrate its extensive portfolio of slots, live casino games, and virtual sports titles onto Chapinbet’s online platform. This move will make Pragmatic Play’s offerings available to Chapinbet’s expanding customer base across the continent.
This partnership marks Pragmatic Play’s latest move in Latin America.
Victor Arias, VP of Latin American operations at ARRISE powering Pragmatic Play, stated: “Pragmatic Play has shown remarkable performance in Latin America, and it remains a key market for our expansion. Partnering with Chapinbet is an exciting opportunity to bring our games to players in the region.”
Marco Antonio Estrada of Chapinbet also commented: “Partnering with Pragmatic Play to enhance our game offerings is a significant milestone as we continue our expansion across Latin America and solidify our position as one of the region’s premier operators.”
Earlier, Pragmatic Play expanded its presence in Brazil with bplay.
Armenia’s parliament has passed amendments concerning gambling
Armenia’s parliament has passed new amendments to gambling laws, focusing on adjusting taxes on customer winnings to enhance simplicity and ensure adequate taxation of gambling profits.
According to the revised legislation, taxes on gambling winnings will differ based on the size of the win. Large wins, defined as exceeding 5 million Armenian drams (approximately €11,000), will now face a reduced income tax rate of 5 per cent, down from the previous 10 per cent. For regular wins below this threshold, the tax remains at 10 per cent of the net win amount (winnings minus the bet placed).
In a move to streamline tax collection and compliance, gambling operators will serve as tax agents for large wins. Meanwhile, tax authorities will calculate taxes on smaller wins upon submission of annual income declarations, applying the 5 per cent tax rate.
Chairman of the Economic Affairs Committee, Babken Tunyan, noted that these measures aim to bring clarity and consistency to the taxation process, ensuring that gambling revenues contribute appropriately to the national economy without unduly burdening citizens.
KSA gathers €294,000 in penalty fees from unauthorised providers
The Dutch Gaming Authority, Kansspelautoriteit (KSA), has levied a combined penalty totaling €294,000 ($315,000) against LCS Limited and Blue High House SA for their failure to cease illegal operations targeting Dutch consumers.
LCS Limited had previously been fined €2.1 million in 2022 for offering illegal games of chance. Despite a cease and desist order from the KSA, a subsequent inspection in October 2023 revealed LCS Limited was still providing illegal games of chance. Consequently, an additional fine of €165,000 has now been imposed.
Similarly, Blue High House SA received a penalty order for offering illegal games of chance. Despite this, the company continued its operations, leading to a fine of €129,000 from the KSA, with the possibility of further penalties.
René Jansen, Chairman of the KSA, underlined the severity of the penalties, stating that penalty orders signify more than just warnings to illegal providers. The KSA is committed to strict enforcement, ensuring that providers who disregard regulations and continue to target Dutch players face substantial financial consequences, affecting them significantly.
PopOK Gaming has unveiled a new partnership with SYNOT Interactive
PopOK Gaming announces a new partnership with SYNOT Interactive, a software provider with over two decades of industry expertise. SYNOT Interactive is renowned for its modular and API-driven product suites, offering comprehensive services ranging from casino content aggregation to platform integration. Their solutions cater to a wide array of casino needs, ensuring flexibility and efficiency.
In parallel, PopOK Gaming is a cutting-edge developer in the igaming sector, celebrated for its delivery of high-quality games featuring captivating designs, dynamic animations, and robust gamification tools.
United by a shared commitment to innovation and excellence, PopOK Gaming and SYNOT Interactive are poised to redefine the igaming landscape. Together, they aim to introduce fresh and engaging content, enriching the gaming experience for players globally.
The fintech sector in Kazakhstan expresses worries regarding proposed gambling regulations
Fintech and payment companies in Kazakhstan are voicing serious concerns over a proposed law aimed at regulating gambling transactions. Central to the legislation is the establishment of a new monopoly entity, the Unified Accounting System (UAS).
The UAS, slated to manage market participants, process payments, maintain a single electronic wallet, and handle client settlements, would impose a commission of up to 1.5% on all transactions. This move comes in a market where regulated transactions exceed 1.2 trillion tenge (approximately US$2.6 billion) annually.
Critics argue that the proposal mirrors the previously considered Betting Accounting Center (BAC), which was shelved in 2021 following a corruption scandal involving a Vice-Minister. Transparency concerns loom large, particularly regarding the structure and ownership of the UAS.
The introduction of the UAS during the legislation’s second reading bypassed a thorough impact analysis, prompting opponents to decry the lack of scrutiny into potential economic and regulatory implications.
The National Bank of Kazakhstan, the country’s central bank, opposes the UAS, asserting that it duplicates existing regulatory functions without bolstering transaction security or consumer protection. In response, the central bank has formulated its own reform proposal, which excludes the introduction of a monopoly entity.
Meanwhile, Kazakhstan’s payments industry has proposed an alternative reform plan, which stakeholders argue has not received due consideration. Industry representatives caution that the current legislation could disrupt the payments sector, stifle competition, and adversely affect Kazakhstan’s business climate.
