Regulatory Alerts2025-01-01
Circular No. 12 of 2025 - Junket and Tournament Events
The Seychelles Financial Services Authority clarifies that junket and tournament events constitute gambling under the 2014 Gambling Act, restricting their hosting exclusively to licensed casinos. The regulator mandates a structured application process requiring submission four weeks prior to the event, accompanied by comprehensive documentation including credit structures, risk assessments, participant due diligence, and dealer permits. This framework aims to mitigate emerging financial risks and prevent jurisdictional misuse by enforcing strict compliance and targeted enforcement actions for non-compliant operators.
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