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NEVADA'S ONLINE GAMBLING REGS ACHIEVE A SMOOTH INITIAL PASSAGE

Tuesday, September 27, 2011 :  This week's workshop produced few arguments
 
The Nevada Gaming Control Board's workshop to discuss the state's proposed new online poker regulations was held in Las Vegas Monday with little in the way of controversy or argument.
 
The suggested regulations have been drafted to ensure that Nevada is in a position to move forward immediately federal legalising laws are passed.
 
Officials explained the regulations, heard testimony and answered questions during the one-and-a-half hour session, which was well attended by players, industry attorneys, former regulators and corporate representatives of firms with an interest in the opportunities legalisation could present.
 
The audience was briefed on the requirements regarding the operation of interactive gaming, licensing, internal controls, record-keeping, player registration, fees, dispute resolution and the reporting of suspicious wagers.
 
Highlights of the briefing included:
 
• The Nevada Gaming Commission must review and approve all interactive gaming systems of applicant companies.
 
• There is a requirement for ongoing testing of interactive systems, including privacy oversight to protect a player's identity and account information.
 
• Strict requirements regarding the registration of players, including identity, age (21 years) and location verification, together with checks that the player is not a problm gambler or excluded player.
 
• Records of all financial transactions, wins and losses, must be kept and players may not be given credit.
 
• Operators must report suspicious wagers within seven days.
 
• Interactive gaming licenses are classified as distinct from any existing gaming licenses that may be held, and therefore a new i-gaming licence must be taken out by applicants, for which fees will be charged. Fees have been set at $500,000, with $250,000 annual renewals and $125,000 for service providers with $25,000 annual renewals.
 
Further public hearings will be held by the Commission and the Board in November before the final regulations are approved, which must take place before January 31, 2012.
 
Control Board Chairman Mark Lipparelli appeared pleased with the smooth passage of the regulations through the first hearing, saying: "I think we're fairly close....we have a solid foundation, but there may be changes based on [12] written comments that were submitted."

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Gambling News :

Amaya FY2016 Trading Update - The Montreal-based Amaya online gambling group has issued a trading update covering FY 2016 and improving its forecast revenue and earnings numbers.

Another Mega Fortune Dreams jackpot for Euro 3.5 million - In a statement Friday NetEnt advised that the lucky player is a 62-year-old woman from central Finland who won the seven-figure sum from a Euro 1 stake.

Stanleybet has filed a legal action against the government of Cyprus - Bookmaking firm Stanleybet has filed a legal action against the government of Cyprus, claiming Euro 12.5 million as compensation for what it claims is loss of profits and opportunities, prejudice to image and business reputation and legal costs.

LeoVegas To Sponsor Leicester Tigers - The agreement includes official partner accreditation, media space at Welford Road stadium and matchday tickets and VIP hospitality as well as two pitchside perimeter boards from the 2017/18 season and one for duration of the 2016/17 season.

Optima Information Services iShop - Industry visitors to the recent TVC Bookmakers Trade Fair in Solihull, UK were much taken by Spanish betting technology firm Optima Information Services' iShop product, and the company went on to win the SBC Best Retail Betting Product award with it last month.

Golden Nugget Las Vegas Launches New Betting App - Golden Nugget Las Vegas has unveiled a sports wagering app offering Nevada punters the comfort and convenience of being able to wager from anywhere in the state.

CAGAYAN CHIEF MOVES TO REASSURE LICENSEES - Apparently $4 million is going into improvements of the Authority’s data centre in the Freeport at Cagayan, whilst another $3 million has been earmarked for an upgrade to data infrastructure located outside the Freeport.

New Massachusetts Online Gambling Bill - It seems that every two years (give or take a few months) Massachusetts state Senator Bruce Tarr flights an online gambling legalization bill in the state Senate.

Las Vegas Sands Fined for foreign bribery allegations - #lasvegassands Las Vegas Sands, the land casino company owned by multi-billionaire US mogul Sheldon Adelson, has again had to cough up a stiff penalty for non-compliance with the law.

Libratus AI Program Destroying Human Poker Opponents - #Libratus With 40,340 hands played (about a third of the 120,000 planned) Dong Kim is down $29,506, whilst Jimmy Chou ($113,7728), Daniel McAuley ($141,877) and Jason Les ($186,489) are all carrying losses.

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