Regulation round-up 24 April 2012
The biggest regulatory news from the egaming industry in the last seven days (18 April to 24 April 2012).
William Hill’s Nevada application delayed
Regulators investigate the bookmakers’ head of strategy and business deal with Playtech.
William Hill’s land-based gaming licence application in Nevada has been delayed, as regulators in the Silver State take more time to investigate key personnel and its business ties with Playtech.
Despite Hills telling shareholders that the licensing process would be completed by the summer, it does not appear on the Nevada Gaming Control Board (GCB) agenda for May.
According to The Guardian newspaper, the delay is due to the GCB investigating two issues in more detail. These include Robin Chhabra, Hill’s head of strategy and corporate development who was responsible for the bookmaker’s deals to acquire three sportsbetting companies in Nevada, and the company’s ties to Israeli software provider Playtech, with which William Hill Online has a troubled joint venture.
Former equity analyst Chhabra was fined approximately US$150,000 by the Financial Services Authority in February 2010 after he “passed confidential information” to a friend, The Guardian reported.
Opinion: Fit and proper but just what does it mean?
I was reflecting recently on a frequently recurring question that comes up at egaming conferences. The question is: are internet operators that have directly or indirectly accepted US players, through their licensee, ineligible for a Nevada licence?
The answer is that we won’t know until Nevada regulators actually face this issue in a hearing. We do know, however, that it will be an issue. No precedent exists as to whether or not this is a disqualifying factor to obtain a licence in the Silver State. Nevada’s laws and regulations do not have rigid standards for determining suitability. For example, conviction of a felony is not necessarily a disqualifying factor as it is in some states. Instead, gaming regulators make a qualitative decision about a person or company’s suitability based on all sorts of factors.
Typically, regulators look into matters such as associations with organised crime, honesty and integrity, and adequate business experience. Compliance Compliance is an important aspect of that review. Compliance is much more than whether the company has violated the law, but whether it has institutional controls for assuring compliance with all laws. This means compliance with United States and Nevada law, as well as with foreign laws.
eGR/GTECH webinar free to view online
The first of six webinars focusing on the potential of the soon-to-be-regulated US market produced by eGaming Review North America and GTECH G2 is now available to view online.
Entitled ‘Why go online, what is the potential of the US market?’ the first webinar can be viewed here and features market critical information and a panel discussion from James Bennett, eGR NA editor-in-chief and eGaming Review editor, Simon Holliday, founder and owner of online gaming data provider H2 Gambling Capital, and William Scott, VP of GTECH G2, who is a regular visitor to the supplier’s multiple land-based and online clients in the US.
EGBA publishes EU gaming manifesto
The European Gaming and Betting Association (EGBA) has published a manifesto pushing for a sustainable European Union (EU) policy for online gambling ahead of an European Commission (EC) report on egaming, due to be published this summer.
The release of the manifesto coincides with an EC meeting with European regulators to discuss ways for member states to work together to ensure a fair regulatory framework across the continent, due to be held in the next few days.
LGA signs MoU with Ontario regulator
The Maltese Lotteries and Gaming Authority has signed a bilateral memorandum of understanding with the Alcohol and Gambling Commission of Ontario.
Following the deal the two regulatory authorities will exchange information on licence applicants’ eligibility assessments, with both bodies contributing to the development of joint operational and technical standards across the egaming spectrum.