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LVS Gains Licensed Software Operator Status from the Gambling Commission

LVS, the London and Gibraltar-based creator of betting software, has successfully gained licensed software operator status from the Gambling Commission of Great Britain.

From 1 September, 2007, suppliers of gambling software in the UK are required to hold an operating licence issued by the Gambling Commission under the Gambling Act 2005.

Using the latest technologies, LVS builds systems designed by bookmakers for bookmakers – including sportsbook systems and its respected Advanced Betting Platform™. The company also provides expert consultancy for the betting and e-gaming industries.

In line with Gambling Commission standards, LVS is obliged to have detailed testing completed on its software when deployed in the UK. This testing ensures fairness and security for the end user. To win its licensed software operator status, LVS had to submit a detailed application to the Gambling Commission, allowing for a thorough due diligence test on the company and its directors, Ian Price and Simon Ordish.

Ian Price comments: "Gaining the licensed operator status was a requirement for key customers such as William Hill, who obliged us to be licensed if we were to continue our working relationship. We are committed to a number of policies with regard to fairness, integrity and protecting gambling from being a source of crime. This meant drafting internal policies that impact on areas such as coding standards, recruitment etc.

"We are also obliged to keep the Gambling Commission informed of material changes within the business, such as changes to key personnel."

To help with the application, LVS had its entire London team trained by Gamcare on responsible gambling and social responsibility. Gamcare is seen as the best provider of this type of training, and LVS supported the charitable body with a donation for its time.

Mr Price continues: "The industry is waiting for the gambling prevalence study due out on 19 September. It’s unlikely to be good news and will be spun heavily by the anti gambling lobby.

"In theory, with more regulation and auditing of gambling related companies - which simply dissuades poor operators and criminals from operating or begins to set new standards of conduct – we will see changes in the UK industry."

He concludes: "The Gambling Commission’s accreditation is also useful in the international market. In the UK, the accreditation is very much a ‘me too’ situation but international providers may not be licensed and understanding of the process is not so good. LVS is a company of substance, which is why we have been licensed. The process isn’t easy or cheap. The fact that we have succeeded in completing it underlines that Simon Ordish and I have proven credentials of ability and experience, and our business practice, policy and procedure meet the Commission’s high standards."

About LVS

LVS was established in 1992 and is based in the City of London. A recognised force in the betting industry, LVS has a reputation for quality and innovation. The company develops and supports sportsbook systems for global organisations. In response to an increasing customer base, LVS has doubled the size of its London and Gibraltar operations and continues to grow in 2007. In addition, LVS is expanding into Asia in partnership with major bookmakers and gaming operators. The 28 strong team at LVS comprises highly experienced, dedicated professionals from the disciplines of technology and betting.

About the Gambling Commission

The Gambling Commission of Great Britain promotes ‘fair and open’ standards intended to ensure remote gambling is conducted in a fair and open way; ‘responsible gambling’ standards supporting the licensing objective of protecting vulnerable groups from being harmed or exploited; and ‘security’ standards that support the fair and open objective. To read about the recent changes to UK gambling legislation, see http://www.gamblingcommission.gov.uk