Entain, the British sports-betting and technology company, has successfully navigated compliance hurdles to obtain a full gaming license in Nevada.
Entain’s compliance journey:
Previously operating under limited licenses due to concerns over past business practices, particularly in unregulated markets, Entain has made significant strides in rectifying these issues. Erica Okerberg, Entain’s attorney, highlights the company’s commitment to acknowledging past shortcomings and implementing measures for improvement. Chairman Barry Gibson emphasizes Nevada’s regulatory standards as the “gold standard” and underscores Entain’s dedication to meeting these benchmarks, even at the cost of withdrawing from profitable but unregulated markets globally.
According to CDC Gaming Reports, Illinois-based Accel Entertainment, a video gaming terminal provider, has also made notable progress in its compliance journey. Initially operating under a two-year license and facing fines in Illinois for regulatory violations, Accel has undertaken significant efforts to enhance its compliance program and address outstanding issues. Karl Peterson, Accel’s chairman, emphasizes the company’s commitment to meeting regulatory standards and acknowledges the privilege of holding a gaming license. Commissioner Rosa Solis-Rainey commends Accel’s improvements and highlights the company’s collaboration with UNLV for training initiatives.
Expert insights on regulatory standards:
Gaming consultant Brendan Bussmann emphasizes the importance of meeting regulatory obligations for obtaining a Nevada license. Bussmann underscores the thorough due diligence required, particularly for companies operating in gray markets. Nevada’s stringent licensing process ensures that license holders maintain high standards of governance, compliance, and ethics, setting a precedent for other jurisdictions.
Barry Diller’s license update:
As The Nevada Independent reports, Media mogul Barry Diller’s journey to obtaining an unrestricted gaming license in Nevada reflects the meticulous scrutiny applied by state regulators. After initially receiving a restricted, two-year license amid insider trading allegations, Diller now holds unlimited approval as a board member of MGM Resorts International. Despite concerns surrounding a past Securities and Exchange Commission (SEC) investigation, Diller’s license approval comes with a condition requiring prompt notification of any changes related to the closed investigation. While Commissioner Rosa Solis-Rainey expresses reservations about the absence of certain conditions, other members of the commission express confidence in the decision, citing a thorough investigation and Diller’s qualifications.
The cases of Entain, Accel Entertainment, and Barry Diller underscore the rigorous regulatory standards upheld by Nevada gaming regulators. Through proactive measures, both companies have demonstrated their commitment to compliance and ethical business practices, earning full licenses in the process. Diller’s license approval highlights the balance between regulatory scrutiny and recognition of an individual’s qualifications, reflecting the evolving landscape of gaming regulation in Nevada.
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