Insights

A new member of the Nevada Gaming Commission is urging the Nevada Gaming Control Board to forbid so-called portable licensing, which allows gaming executives and other employees to move from one casino to another, even if they are bad actors who are not doing a good job. 

UK health guidance suggests asking about gambling habits, Caliplay launches legal proceedings in Mexico City against its partner Playtech and Authentic Gaming live dealer games approved in Michigan.

MGM Resorts International said the recent cyberattack that crippled its casino's systems in eight states will reduce its profits by $100m but will not have a material effect on its financial condition and results of operations for the year.

Genius Sports has begun rolling out a product it touts as a new low-latency solution to live betting on National Football League (NFL) games, as U.S. sports leagues continue to look for new ways to add gambling elements to game broadcasts.

Chinese police have reportedly arrested Liu Zhengxiang, a powerful online gambling mogul based in a Myanmar border zone in Shan state while attending a trade fair in China.

The sports committee in Brazil’s Senate has received almost 50 proposed amendments to the sports betting and online gaming bill approved by the lower house of Congress last month, with the suggested changes ranging from eliminating casino games to extending the term of licences from three to five years. 

The problem gambling rate in Ireland is "far higher" than previously estimated, according to a new study that will form part of the Gambling Regulatory Authority of Ireland’s growing “invaluable” evidence base.

The US reveals a major sting of suspected Chinese drug traffickers who take payments in crypto, Ripple swerves an appeal from the US Securities and Exchange Commission, and Circle throws Binance a lifeline in court.

Fintech firms in Canada have launched a new campaign to raise awareness of the concept of open banking and to urge the government to move forward.

The UK’s competition regulator has launched an investigation into cloud services, while Wordline has agreed to purchase the merchant acquiring services of Italian lender Banca del Fucino.

The National Collegiate Athletic Association (NCAA) plans to lobby for reforms to sports-betting legislation in various states across the U.S.

A Senate committee has held its second hearing in less than a week on the contentious issue of whether or not to regulate and tax thousands of grey-market machines, or so-called “skill games,” found in convenience stores and bars in Pennsylvania.

A Malta-based fantasy sports company, Zweeler, said it has stopped offering its product in the Netherlands after it was threatened with a fine of up to €850,000 by the Netherlands Gambling Authority (KSA) for not having a sports-betting licence.

A key committee in Chile’s Chamber of Deputies has rejected proposed language that would have allowed current offshore grey-market operators to avoid a blackout period before applying for a licence when the market is regulated.

This regulatory analysis will compare the key provisions of the European Union’s (EU) Markets in Crypto-Assets Regulation (MiCA) with Hong Kong’s guidelines on virtual asset operators, which were both released within ten days of each other in June 2023. It will delve into the history of both regulatory regimes and compare provisions relating to the licensing of crypto-trading platforms — namely onboarding clients, onboarding assets and safeguarding of funds requirements. This comparison will show that crypto regulations across borders have largely taken similar forms, suggesting a possible consensus of concerns among regulators.

France’s central bank governor has confirmed that Eurosystem plans for a wholesale central bank digital currency (CBDC) are due within weeks, in the face of controversy regarding the digital euro.

The Payment Systems Regulator has confirmed that it will not publish its card fee review by the end of Q3 2023, and announced a new consultation on its governance.

The Reserve Bank of Australia (RBA) will continue to allow card issuers to set a default network on co-badged debit cards and has committed to developing standards on tokenisation.

US reveals growing momentum in FedNow participation, Visa pledges $100m to generative AI ventures, and Apple allows iPhone users to add PayPal or Venmo credit and debit cards to their Apple Wallet.

The Nevada Gaming Control Board is poised to begin unveiling three categories of regulatory reforms next month to expedite the approval of new gaming products even though the board’s chairman describes one group of reforms as “half-baked.”