Everyone loves a trip down memory lane, and we are no different. Get ready to discover a few meaningful moments from SiGMA Europe 2023, as we take a closer look through the eyes of the one and only Greta Norkute-Simanauskiene from Okens Domains. We’ve got you covered from groundbreaking tech innovations to mind-blowing keynote speeches. So sit back, relax, and let’s dive into Greta’s highlights together.
SiGMA Europe 2023 Flashback by Greta Simanauskiene
SiGMA Europe was once again a fascinating event. The conference sessions (located just next to the Okens stand) addressed many challenges and opportunities the iGaming sector faces. One session focused on the Sigma host nation, Malta (Malta’s European Odyssey: Navigating Rough Seas). While it covered local challenges to a fair extent, it represented the challenges faced in many markets. Through this session and others, we saw the following themes appear.
- Keeping in step with regulations and adapting to them, especially when these fluctuate heavily from one year to another or one market to another.
- There is a need to build agility into the core of every product and operation to keep pace with market changes but also to leverage technology changes fully.That agility is key to keeping pace with regulatory changes and elements such as the advent of AI or changes in the way Google operates.
- And the requirement to keep pace with changes in user behavior. One session looked especially at the increase in women gamers and how the industry needs to adapt- just one variable amongst many to take into account.
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At SiGMA Europe last week, one of the most compelling sessions was centered around the challenges Maltese operators face in Europe. The session Malta’s European Odyssey: Navigating Rough Seas talked about reporting requirements and the technology expertise needed to make that happen.
The panel featured Olga Finkel (Co-Founder & Partner, WH Partners), Carl Brincat (CEO, MGA), Joseph Attard (Director of International Compliance, Entain Group), David Yatom Hay (General Counsel, Soft2Bet) and Abby Rachel Cosgrave (Chief Legal & Compliance Officer, LeoVegas) and George Westin (founder, Hero Gaming).
The takeaway from the session is there will be challenges for B2B providers from the technical requirements necessary to comply, quick transition from one regulation to another, rapid adjustment to the regulations and maintaining competitiveness in the market.
The panel felt it would be challenging regarding regulation uncertainty and managing business. If customers can’t be in a safe and sustainable area, regulation itself will fail.
According to Abby Rachel Cosgrave, Chief Legal Compliance Officer, a solution is to ensure that B2B providers have a strong and positive dialog with regulators versus guessing what is coming down the road.
See you next year at SiGMA Europe 2024.