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Casumo

From Wikipedia, the free encyclopedia
Casumo
IndustryOnline casino
Founded2012
HeadquartersSwieqi, Malta
ProductsCasino, Games, Table games, Jackpots
OwnerCasumo Services Limited
WebsiteCasumo.com

Casumo is a Maltese online casino and sportsbook services company, which includes video slots, jackpot games, live casino, table games and betting. Casumo has its headquarters in Malta in Swieqi, and has additional offices in Barcelona,Gibraltar and Zagreb. Casumo also owns online casino operators Dunder and Kazoom Casino.

Background

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Casumo is licensed to operate a remote gaming business by the Malta Gaming Authority.[1] In 2015, Casumo received its license[2][3] to operate in the United Kingdom from the UK Gambling Commission. In November 2018, Casumo received its license in Sweden from the Swedish regulator, Spelinspektionen.[4] In March 2018, Casumo agreed a deal with sportsbook supplier Kambi, to deliver a gamified sports betting product to its customers. It also opened its UK sportsbook market in late 2019.[5] In April 2019, Casumo received a 5-year license to operate in Denmark from the Danish gambling authority.[6][7]

Operations

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In March 2018, Casumo announced a deal with B2B sports service organization the Kambi Group.[8]

In April 2022, Casumo announced its strategic partnership with iGaming content provider SYNOT Games.[9]

Sponsorships

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Casumo had partnered with the eSports team Planet Odd[10][11] and has also sponsored Wembley Arena[12] where eSports events are held.

On 28 June 2019, Casumo announced a two-year principal sponsorship deal with Reading F.C.[13]


Regulatory sanctions

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On 10 May 2018 the UK Gambling Commission imposed a financial penalty under section 121 of the Gambling Act at the sum of £5,850,000 on Casumo Services Limited. The fine was due to a breach of Anti-money laundering measures and failure to comply with the social responsibility code of practice. The licensee has accepted the decision.[14]

On 2 April 2019 Casumo was yet again hit by another regulatory-imposed fine by the Dutch gambling regulator Kansspelautoriteit (KSA) for the amount of €310,000 for illegally targeting consumers in the Netherlands.[15]

In March 2021 Casumo was hit yet again by a €7m fine from the Gambling Commission after failing to comply multiple times with key elements within social- and financial concepts revolving around the industry.[16]

In March 2022, the Gambling Commission imposed a financial penalty after the company allowed a customer to lose £1.1m without any interaction. The penalty was imposed under the Social Responsibility code provision 3.4.1., which states that ““licensees must interact with customers in a way that minimises the risk of customers experiencing harms associated with gambling”. As a result of not meeting the requirements for this in addition to anti-money laundering failures, the Gambling commission imposed a £6/$8.2 million fine.[17]

References

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  1. ^ "Licensed Operators - Malta Gaming Authority". Mga.org.mt. Archived from the original on 2017-06-06. Retrieved 2017-08-11.
  2. ^ "Casumo continues expansion efforts with UK launch". igamingbusiness.com. 2 October 2015. Archived from the original on 9 August 2017. Retrieved 2017-08-11.
  3. ^ "Account details". Secure.gamblingcommission.gov.uk. Archived from the original on 2017-08-09. Retrieved 2017-08-11.
  4. ^ "Casumo moves on with Swedish igaming licence". www.casinobeats.com. 30 November 2018.
  5. ^ "Casumo Enters Sports Betting Market with Kambi Deal". 14 March 2018. Archived from the original on 7 August 2018. Retrieved 19 March 2018.
  6. ^ "Casumo launches in Denmark". egr.global. Archived from the original on 2019-05-09. Retrieved 2019-05-24.
  7. ^ "Casumo Service Ltd". spillemyndigheden.dk. Archived from the original on 2019-05-24. Retrieved 2019-05-24.
  8. ^ "Kambi Group signs gamification-led sports deal with Casumo". Kambi. 12 March 2018. Retrieved 20 April 2022.
  9. ^ "SYNOT Games Announces Strategic Agreement with Casumo". European Gaming. 5 April 2022. Retrieved 20 April 2022.
  10. ^ "Planet Odd sign Thunderbirds". Gosugamers.net. Archived from the original on 2017-08-10. Retrieved 2017-08-11.
  11. ^ "Malta based igaming company Casumo, invests in esports!". Gamers.com.mt. Archived from the original on 2017-08-10. Retrieved 2017-08-10.
  12. ^ "Casumo secures live partnership with SSE Arena Wembley". Sbcnews.co.uk. 8 March 2017. Archived from the original on 12 March 2017. Retrieved 2017-08-11.
  13. ^ "Casumo signs two-year partnership deal with Reading Football Club". readingfc.co.uk/. Reading F.C. 28 June 2019. Archived from the original on 28 June 2019. Retrieved 28 June 2019.
  14. ^ "UKGC Imposes £6.8M Fine on Casumo and Videoslots". 1 December 2018.
  15. ^ "Casumo faces €310k Dutch fine". iGaming Business. 2019-04-02. Retrieved 2020-05-28.
  16. ^ "Casumo Gets fined 7 Million Euros". Gaming Industry Media. 2021-03-25. Retrieved 2021-03-25.
  17. ^ "Gambling Commission fines Casumo £6m amid player interaction failings". IGaming Business. 25 March 2022. Retrieved 17 May 2022.