Videoslots has welcomed Klas Winberg as its new chief commercial officer. Described as a “visionary leader with two decades of iGaming excellence,” Winberg will now be tasked with driving success for the online casino company.

According to Videoslots, the new appointee is a performance-driven professional with a long history of success in iGaming. Prior to joining Videoslots, Winberg served a variety of online gambling companies, including industry giants such as Betfair, Catena Media, Raketech and Expekt.

Prior to joining Videoslots, Winberg served as the chief executive officer of Play North. His two-year tenure as CEO of the latter company saw him play a key role in driving business growth and overseeing the organization’s expansion. He was also integral in the institution of effective departmental structures and led successful brand development initiatives.

Klas will now join Videoslots’ senior management team and work hard to drive growth for the company. His appointment, according to the company, signals the operator’s commitment to reinforcing its leadership and strategic capabilities.

Winberg is notably the second C-level appointment to Videoslots team and follows the recent addition of Anna Komemi as the operator’s chief operating officer.

Winberg Is Thrilled to Join as CCO

Ulle Skottling, Videoslots’ deputy chief executive officer, welcomed Winberg as CCO and praised his excellence in online gaming. Skottling said that the company is happy to have “someone of such caliber” join its ranks.

His [Winberg’s] proven success in the iGaming industry will undoubtedly elevate our team’s strategic vision and drive future accomplishments even further.

Ulle Skottling, deputy CEO, Videoslots

Winberg was similarly excited about his new position, saying that he cannot wait to work with Videoslots. He said that he has had his eye on Videoslots for a while and lauded the company as a leader in games offering, industry expertise and customer engagement.

I am very excited to join this team brimming with know-how and who has great and exciting plans for growth in the pipeline.

Klas Winberg, CCO, Videoslots

In other news, Videoslots recently got itself into trouble in Sweden because of AML violations.

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Online casino operator Videoslots has announced the appointment of Anna Komemi as chief operating officer (COO). Komemi boasts nearly twenty years of industry experience and will contribute her substantial insights accumulated at companies like Ladbrokes, Playtech, and Aspire. Her diverse expertise makes her an invaluable addition amidst rising regulatory uncertainties.

Komemi Boasts an Impressive Track Record

With a career reaching back to 2007, Komemi has held positions in various Playtech-owned businesses, gaining expertise in poker, risk management, and online support. Her experience extends across diverse jurisdictions, including Israel, Bulgaria, and the Philippines. This expertise gives her a unique outlook on various markets and should bolster Videoslots’ global expansion efforts.

The newly appointed COO expressed her excitement about joining the company and anticipation of contributing to its full potential. She acknowledged the fantastic group of industry professionals at Videoslots and expressed confidence in her ability to bolster Videoslots’ 2024 ambitions, setting the stage for enduring success.

“The team is made up of a fantastic group of industry professionals with great knowledge and experience and… I look forward to helping the business develop to its full potential.”

Anna Komem, Videoslots COO

In her most recent position, Komemi served as CEO/Executive Manager at Marketplay. She played a crucial role in establishing the white-label casino company in Malta, crafting operational business plans, contributing to strategic development, and bolstering the overall success and growth of the organization. These skills will be invaluable in her new position as she helps propel Videoslots to new heights.

The Company Aims to Expand Its Business

Videoslots exits 2023 with mixed results. The operator achieved several notable successes, concluding strategic partnerships and paving the way for future expansion in high-profile jurisdictions. However, the company faced significant compliance challenges, suffering substantial fines in the UK and Sweden due to AML failings. It can hopefully learn from these mistakes and shore up any regulatory shortcomings.

Ulle Skottling, deputy CEO at Videoslots, expressed delight in welcoming Anna to the team, highlighting her passion and commitment to the industry. Skottling anticipated she would strengthen Videoslots’ team as they aim for expansion in 2024. The operator has revealed plans to launch in the highly-contested North American market, with the company choosing Canada as its gateway country.

“She has made a significant impact within the sector over nearly two decades and will undoubtedly strengthen our team.”

Ulle Skottling, Videoslots deputy CEO

Based in Malta, Anna Komemi’s role as COO at Videoslots will be instrumental as the online casino operator gears up for strategic growth. The appointment reflects Videoslots’ commitment to onboarding experienced professionals to drive the company’s development and success in the dynamic online casino industry.

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Videoslots, the famous international online casino brand, has received a fine worth 9 million Swedish Crowns over breaches of anti-money laundering (AML) laws and regulations regarding the financing of terrorism.

The sum of 9 million Swedish Crowns would roughly convert into around 800,000 U.S. dollars or 760,000 euros. Spelinspektionen, the Swedish gaming authority, conducted an investigation into the operations of Videoslots and found that the operator has not met customer knowledge requirements.

Along with the fine Videoslots also received a warning from Spelinspektionen but for now the online casino operator was allowed to keep its license and continue to operate on the Swedish market. The operator also holds licenses in Malta, Great Britain, Denmark, Italy, and Spain.

The investigation conducted by Spelinspektionen found that Videoslots had faulty anti-money laundering protocols in place when dealing with ten of its largest customers between 2019 and 2021. The ten customers were selected at random from those who made the largest number of deposits and also deposited the biggest total amounts.

Obvious Discrepancies Between Income and Deposits

Spelinspektionen went on to study the operator’s actions concerning the ten large customers and eventually found a failure to account for obvious discrepancies between their income and their gambling transactions.

For example, one of the respective customers deposited more than 5 million Swedish Crowns between 2019 and 2021 despite having registered an income of just 57,000 Swedish Crowns in 2018. The discrepancies did not prevent the respective player from depositing and withdrawing large sums of money at Videoslots even though the initial risk was observed.

The online casino operator defended itself by saying that the audited customers do not necessarily represent the level of compliance of the entire operation and also that the final purpose of the anti-money laundering protocols is to report suspicious activity to the authorities. To that defense Spelinspektionen responded that the operator has a duty to detect and deter suspicious activity itself before reporting it to the authorities.

Moreover, the Swedish gaming authority also noted that while Videoslots was formally cooperative it was not willing to actively facilitate the investigation. The decision published by Spelinspektionen concluded: “The Authority’s assessment is that Videoslots’ customer knowledge regarding all of the audited customers has been insufficient. Videoslots would therefore not have maintained the business relationship or performed individual transactions regarding these customers.”

Source: “Videoslots punished in Sweden over “serious” AML failures“. iGaming Business. November 2, 2023.

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Sweden’s gambling regulator, the Spelinspektionen, has issued a penalty fee to Videoslots. According to the authority, the gambling operator failed to properly measure risk and committed anti-money laundering (AML) and counter-terrorist financing (CTF) violations.

For reference, Videoslots is a licensed operator that offers gambling in Sweden through its videoslots.com website.

As noted by the Spelinspektionen, the authority began supervising the operator’s AML protocols back in 2021 as it wanted to confirm whether the company secured sufficient knowledge of its customers. However, the review uncovered failings, confirming the regulators’ suspicions that Videoslots doesn’t properly assess its customers’ risk profiles.

The violations committed by Videoslots are considered to be very serious, the Spelinspektionen noted. According to the regulator, Videoslots has now received a warning and a penalty fee of SEK 9 million (approximately $809,300) for its breaches, which may have facilitated money laundering and terrorism financing.

This is one of the bigger fines handed by the Spelinspektionen, which noted that the maximum possible fine, as outlined in the Money Laundering Act, is EUR 1 million (approximately $1.06 million).

Sweden Is Stepping Up Its Efforts to Combat Illegal Gambling

In other news, the Spelinspektionen just published a partial report on the ongoing review of how collaboration with the Finansinspektionen (Financial Supervisory Authority) can strengthen the efforts against illegal gambling. The two regulatory bodies are currently evaluating how their efforts can benefit Sweden’s online gambling market.

As a result, the Spelinspektionen and the Finansinspektionen are exploring synergies and opportunities for payment blocking. The two regulators are also exploring opportunities for data sharing that will enhance their efforts.

An earlier proposal suggested allocating more money to the two authorities, helping them in their respective tasks. The proposal sought to allocate SEK 10.8 million (around $970,000) to the Spelinspektionen’s 2024 budget and SEK 4.5 million ($400,000) to the Finansinspektionen in 2024.

Over a month ago, Sweden proposed changes to its Money Laundering Act. Back then, the Spelinspektionen expressed its approval for most of the proposed changes but highlighted a few things that could be better.  The Swedish Trade Association for Online Gambling (BOS) also addressed the changes and similarly agreed with most of them but outlined a number of things to keep in mind.

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The leading online gambling operator, Videoslots, announced a new content partnership with RAW iGaming, the award-winning provider of games for the iGaming vertical. Announced Thursday, the new deal will see the operator introduce popular games from RAW iGaming, powering its operations in Ontario, Canada. Per the latest deal, Videoslots will bolster its offering, delivering thrilling experiences for customers in the province.

Currently, Videoslots already has a strong presence across Europe. Earlier this year, in June, the operator entered the gambling market in Ontario. More recently, Videoslots has gone live with its first TV campaign for the region, seeking to propel its presence.

Customers in Ontario are already familiar with some of the most successful games from RAW iGaming. Such include Rise of Shinobi, Ave Caesar DynamicWays and Big Money Bass, among others that are already popular among online players.

As a leading global iGaming operator, Videoslots constantly grows its offering. This summer, the company announced that its platform offers 10,000 titles, after launching RAW iGaming’s Raging Super2Ways. That achievement undoubtedly had a positive impact and helped pave the way toward the latest announcement.

The Partnership Brings Excitement to the Duo

Tom Wood, RAW iGaming’s CEO, praised the strong presence Videoslots has within the global gambling sector. He explained that it is incredibly important for the company to join forces with such an award-winning and trusted operator. Finally, Wood said: “Our portfolio continues to expand across Ontario and the launch with Videoslots will undoubtedly boost the outreach of our titles.”

“Videoslots are an award-winning operator and who better to partner with than the biggest operator globally.“

Tom Wood, CEO at RAW iGaming

Ulle Skottling, Videoslots’ deputy CEO, shared the excitement of RAW iGaming’s boss. He explained that it is thrilling to join forces with an award-winning iGaming provider for the market in Ontario. Moreover, Skottling said that Videoslots anticipates further growth and expansion to a leadership position in the region. “RAW iGaming launched our 10,000th title and we are delighted that our relationship with them will continue to grow within Canada,” he explained in conclusion.

“To partner with one of Ontario’s leading iGaming providers is fantastic for Videoslots as we look to become market leaders in terms of our choice of games.“

Ulle Skottling, deputy CEO at Videoslots

Last month, Videoslots announced a landmark partnership by teaming up with Delasport, a leading iGaming supplier. That collaboration saw the leading operator strengthen its offering with the integration of API for different sports.

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Videoslots now officially has more than 10,000 titles in its library and is the first online casino to have achieved this significant milestone. Launched in 2011, the company has been working tirelessly towards this accomplishment.

More Than 10,000 Games to Enjoy

The latest achievement is possible with the help of RAW iGaming’s Raging Super2Ways, which is the latest game to join the operator and will be available in multiple regions where the necessary licenses have been obtained.

This new development is doubly impressive when considering that Videoslots launched its 9,000^th title in January 2023 and has managed to add 1,000 new games in the seven months since. There are presently more than 200 suppliers that work with Videoslots to create the world’s biggest library of online casino games.

Videoslots has confirmed that it is going to be focusing on moving forward with the new milestone – 11,000 games and well beyond that benchmark. The company has not provided information as to when this may be achieved, but a fair estimate would be by early next year, which means Videoslots is most likely to retain its position as the largest B2C repository of online casino games.

Tom Wood, CEO at RAW, welcomed this news and said that he was very happy to see Raging Super2Ways become the milestone game for the operator. “We thank Videoslots for its continuing partnership and hope their players enjoy the game as much as we had fun building it,” Wood said.

The Sky Is the Limit with Videoslots

Videoslots deputy CEO Ulle Skottling was similarly excited about the partnership and said that this achievement was something that the company did not even dream of when the operator was established in 2011. However, it has all worked out fine and the company is now on track to score even bigger wins, Skottling reaffirmed.

Videoslots is also stretching its legs as the company is keen to expand in North America with Ontario, Canada being among its first gateways to the vibrant iGaming region and its markets. The latest success for the company comes several months after the operator faced accusations levied by the Dutch Gaming Authority and said it would contest what it saw as an illegal €9.9 million ($10.5 million) fine.

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The leading online casino operator, Videoslots, confirmed it strengthened its senior management team with a new appointment. The company confirmed Thursday it hired the seasoned expert with nearly two decades of experience within the gambling sector, Marco Trucco. Joining the company, he was appointed to the role of chief marketing officer (CMO).

In his new role, Trucco will leverage his extensive experience to help the company continue to grow and expand. His efforts will seek to boost the company’s operations in existing markets such as Italy, Spain and Latin America. Moreover, he is also expected to play an important role in Videoslots’ expansion in new markets, such as Ontario, Canada, where the company recently has gone live late last month.

Sharing his excitement, Trucco said that it is an honor to join the company’s C-suite. Speaking about Videoslots, he deemed the company a leading iGaming operator and predicted that he will play a vital role in its expansion. “I’ll make the best use of my experience and creativity, with the intention of bolstering Videoslots across many markets globally,” explained Trucco in conclusion.

“It is an honor to be appointed CMO at one of the industry’s best operators. My role is to raise Videoslots’ exposure to the growing number of online casino players who demand a superior product and great customer service.“

Marco Trucco, CMO at Videoslots

The Seasoned Executive Brings Nearly 20 Years of Experience

Trucco’s career within the gambling vertical dates back to 2007. At the time, he held several leadership roles in Italy, including a gaming director position with Eurobet. Throughout his extensive experience within the gambling industry, Trucco was a part of globally-recognized companies, enabling him to accumulate a wide range of knowledge and skills.

Before joining Videoslots, he held the role of managing director at GGPoker. Under Trucco’s guidance, the company established its European hub in Malta while he also played an important role in the expansion of the operator on the Old Continent.

His professional background includes a senior-level role with The Stars Group. At the time, Trucco held the role of associate director of international marketing.

“The role of CMO is a vital part of any business, especially for us at Videoslots, and we believe we are in good hands with Marco at the helm.“

Ulle Skottling, deputy CEO at Videoslots

Ulle Skottling, Videoslots’ deputy CEO, spoke about the importance of the CMO role for any growing company. Additionally, he praised Trucco for his experience within the gambling industry and confirmed he is the perfect fit for the CMO position. Finally, Skottling acknowledged that the new executive delivers extensive experience and predicted further growth for Videoslots.

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The company will be rolling out its products for the first time in Ontario, Canada, and it will provide local players with access to both the Videoslots and Mr Vegas sister brand gaming websites.

Players will have access to a large variety of titles provided by some of the world’s leading iGaming developers, to wit Play’n GO, Evolution, Light & Wonder, Pariplay, NoLimit City, Quickspin, Greentube, Games Global, and not least Relax Gaming.

This means that moving forward, Videoslots will have the opportunity to access popular features such as Clash of Spins, The Wheel of Jackpots, and Battle of Slots, among others. All of these are designed to boost player engagement and create more worthwhile and meaningful experiences for everyone involved.

Videoslots Embarks on North America with Ontario Launch

This expansion into the regulated iGaming market in Ontario marks the seventh international gaming license that the company has obtained. Previously, Videoslots has been licensed and still holds licenses in Malta, Sweden, Denmark, Italy, Spain, and the United Kingdom. Commenting on the upcoming launch Deputy CEO at Videoslots Ulle Skottling said:

Launching in Ontario is another milestone for the Videoslots team, and we are excited at the prospect of entertaining players in the region.

Deputy CEO at Videoslots Ulle Skottling

Skottling noted that Videoslots has been enjoying a good reception in global markets and entering the regulated market in Canada was something that the company has long wanted for its operations.

This new entry comes at a time of rapid changes inside Videoslots as well. The company recently appointed Kim Lindsjö as its new head of affiliates. Videoslots has also been expanding its global footprint by bringing new suppliers on board. Although the company has faced some regulatory headwinds in the Netherlands and the United Kingdom, Videoslots remains committed to regulated and licensed gambling.

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Social responsibility failures and AML violations motivated the UK Gambling Commission (UKGC) to issue Videoslots a substantial £2 million ($2.53 million) fine. The penalty reflects Videoslots’ repeated misconduct and the AML’s commitment to enforcing stringent regulations and upholding responsible gambling practices. The operator acknowledged its shortcomings, vowing to implement urgent updates and bring its player protection mechanisms to the industry standard.

The Operator Ignored Repeated Warnings

According to the UKGC’s investigation, Videoslots failed in several vital areas. Between November 2021 and January 2022, a customer lost nearly half of his deposited £112,225. Signs like long gambling streaks continuing into the early hours and losses exceeding safe thresholds should have triggered several fail safes, but the operator let such behavior continue for months.

The problem case also revealed significant AML deficiencies. The operator’s systems and controls to detect and prevent money laundering activities were inadequate, as Videoslots had insufficient analysts to manage the substantial volume of data. The UKGC noted that the issues were also present with other customers, indicating an endemic problem.

AML analysts failed to properly implement all actions required by the licensee’s AML policies and procedures.

UKGC report

In 2019 Videoslots received a £1 million fine for KYC violations. According to the regulator, the company’s most recent failings directly followed multiple warnings about insufficient due diligence and AML safeguards, thus exposing customers to potential gambling harm. The £2 million penalty reflects the severity of these breaches and should provide sufficient incentive for change.

Regulator Vigilance Remains Paramount for a Safe Market

Videoslots’ UK failings mark the company’s second clash with regulators in recent months. March saw the company enter a dispute with the Dutch regulator for allegedly allowing unauthorized access to its services. The operator hotly contested the mammoth €9.9 million ($10.5 million) fine, denying all allegations.

Despite its objections in the Netherlands, Videoslots has acknowledged its UK shortcomings and committed to implementing remedial measures to rectify the identified issues. The operator recognized the importance of stricter adherence to licensing obligations, improving customer due diligence processes, and bolstering player protection mechanisms. Videoslots’ future actions will be crucial in rebuilding trust and demonstrating a genuine commitment to responsible gambling practices.

The £2 million penalty sends a clear message to operators that non-compliance will not be tolerated. The UKGC’s efficiency in pursuing regulatory breaches is commendable, as it fosters a safer gambling environment that puts player well-being at the forefront. It highlights the need for the industry as a whole to prioritize responsible gambling, robust player protections, and effective AML measures.

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