Compliance Updates
GAMING LAW & REGULATORY ATTORNEYS LAUNCH GAMING LAW PRACTICE
Susan Hensel, the former Pennsylvania Gaming Control Board (PGCB) Director of Licensing, and former PGCB attorney Joseph Grad, announced today the launch of Hensel Grad P.C., a boutique law firm focused on providing legal services to domestic and international clients in the gaming industry. At the PGCB, Hensel and Grad’s collaborative work played a key role in developing the licensing regulatory structure for Pennsylvania, which is today the 2nd largest commercial gaming market in the United States.
Hensel and Grad are reuniting through the founding of Hensel Grad P.C. to expand beyond Pennsylvania in serving clients interested in entering or thriving in the rapidly expanding U.S. gaming industry. “We believe the time is right for a law firm with a solid understanding of how U.S. gaming regulation is created, implemented and enforced,” said Hensel.
She added, “we have the knowledge, experience and relationships necessary to serve all of a client’s regulatory needs and believe a boutique law firm is the ideal platform from which to deliver the highest quality gaming law services to clients.”
“The firm’s focus will be on servicing new and recent entrants to the U.S. gaming market, whether they are foreign entities, early stage U.S. companies, or state agencies charged with overseeing the development of new gaming verticals,” said Grad. Grad noted, “from a client’s decision to enter a jurisdiction to post-licensing compliance and at all points in between, we will be their partner in navigating the U.S. gaming landscape.”
The firm will serve gaming operators, manufacturers, suppliers, affiliates, equity investors, start-ups, non-gaming vendors, entrepreneurs, inventors, lenders, and others seeking to participate in the U.S. gaming industry. In addition, Hensel Grad will serve as a consultant to jurisdictions in the U.S. and throughout the world that are embarking on legalizing one or more gaming verticals.
About Susan Hensel
Susan Hensel was the PGCB’s first employee and first Director of Licensing. She has overseen the licensing of more than 100,000 individuals and entities as Pennsylvania evolved from a slots only jurisdiction to one offering the full range of gaming verticals including integrated casino resorts, online gaming, sports wagering, fantasy sports, and video gaming terminals at truck stop establishments. She stepped down from the position in April.
In addition to her work in Pennsylvania, Hensel is among the best known and respected U.S. regulators on an international stage. In 2020, Hensel was named one of the Ten Most Influential Women in gaming by iGaming Business. She is Past President of the International Association of Gaming Regulators having served in that position for two terms. She is an original member of the Advisory Board of the All-In-Diversity Project, an industry-driven not-for-profit initiative to benchmark diversity, equality and inclusion in the global gaming industry and is a strong advocate for women in the gaming industry.
Hensel is a frequent speaker on gaming law and regulation and has spoken throughout the world. She has published articles on gaming regulation and has collaborated with gaming regulators around the globe. Hensel is an adjunct law professor teaching gaming law and regulation.
About Joseph Grad
Prior to co-founding Hensel Grad P.C., Joseph Grad was the founder and Principal of the Law Office of Joseph W. Grad, LLC which had a successful ten-year run providing services in the areas of gaming, corporate and healthcare law to clients of all shapes and sizes.
In his gaming practice, Grad represented individuals and entities in all aspects of gaming law across numerous U.S. jurisdictions, including matters relating to licensing such as multi-jurisdictional and contested licensing, regulatory compliance with state and federal laws, suitability investigations, approval of corporate transactions, appellate litigation and emerging gaming law issues. He has also been a frequent speaker and contributor to gaming conferences around the world and has served as an advisor to U.S. state gaming authorities, including a recent appointment to the Colorado Sports Betting Working Group.
Prior to starting his firm, Grad was one of the first attorneys hired by the PGCB and served in the positions of Assistant Chief Counsel and Special Counsel for Corporate Finance & Governance. During his tenure with the PGCB, he drafted, developed and shaped many of the PGCB’s regulations, policies and procedures, including the PGCB’s licensing regulations. In addition, he served as the PGCB’s legal advisor on matters involving corporate licensees, including all mergers and acquisitions within the PGCB’s jurisdiction.
More information about Hensel Grad P.C. can be found at HenselGrad.com.
Compliance Updates
Play’n GO breaks new ground with entrance into third Argentinian province
Swedish gaming giants’ games now available in the province of Córdoba’s newly regulated market
Play’n GO, the world’s leading casino entertainment provider, has today announced their expansion into yet another new regulated market, as the Swedish gaming giant has agreed a partnership with Betsson in the province of Córdoba, Argentina.
Argentina is currently in a process of regulation for online gaming purposes on a province-by-province basis, and the partnership with Betsson sees Play’n GO enter yet another regulated market, keeping up the momentum from 2023 that saw the company expand its global reach.
This announcement sees Betsson’s players in Córdoba gain access to Play’n GO’s entire catalogue of games, including classics such as Book of Dead, Reactoonz, and Moon Princess.
This announcement is a signal of intent from Play’n GO, who reiterate their commitment to be present in every regulated market in the world.
Michele Stefanelli, Sales Leader, LATAM and Southern Europe, Play’n GO said: “Our first foray into a new region is always exciting for us, and we’re looking forward to a successful partnership with Betsson in Córdoba. Players around the world, and especially in the LATAM region, have already shown their fondness for our content, and we’re quietly confident that this new region will be no different. We are on record with our commitment to a safe, regulated industry, and we’re very pleased to see that approach rolled out globally by lawmakers and operators alike.”
Maximiliano Bellio, Managing Director Betsson Argentina, added: “We’re pleased to welcome Play’n GO to the Betsson family here in the Córdoba region, and we look forward to many years of success together. Like Play’n GO, Betsson is committed to a sustainable industry model, so this partnership makes perfect sense for both parties. We’re sure our players will be as excited as we are once they start playing these games that have proven so popular around the world, so let’s get started.”
Play’n GO’s games are already available in the autonomous city of Buenos Aires and Buenos Aires Province within Argentina’s federal system.
Compliance Updates
OpenBet bolsters compliance technologies with the launch of geolocation product, OpenBet Locator™, powered by Amazon Web Services (AWS)
OpenBet Locator™ provides a highly flexible, low latency and scalable alternative for global betting and gaming marketplace
OpenBet, a leading content, platform and service provider to the global betting industry, has bolstered its modular product portfolio with the launch of its new flexible and scalable geolocation product – OpenBet Locator™.
Built on the backbone of Amazon Web Services (AWS), OpenBet’s strategic cloud provider, OpenBet Locator™ is a low latency solution that enables operators worldwide to locate, promote to, and monitor customers, remaining fully compliant with regulatory requirements.
The technology strengthens OpenBet’s reputation for market-leading player protection and compliance following the company’s acquisition of Neccton in 2023. With OpenBet’s regulatory reach and multiple licenses, brands will be able to ensure seamless and swift integration of its trusted and compliant technology into their ecosystem.
Initially targeting the North American market, the solution will feature a number of components, such as:
- Fully flexible geo-fence management and high precision location tracking
- Fraud prevention combined with real-time virtual private network (VPN) and location spoofing detection
- Player targeting for customer relationship management (CRM), data analysis and in-venue promotions
- Multi-tenanted solution that supports travelling wallet
- Easy and flexible configuration options to streamline business operations workflows
The product is underpinned by OpenBet’s unrivalled expertise within the global betting industry and is designed to remove the friction of geolocation to the end-customer’s onboarding process.
Jordan Levin, CEO of OpenBet, said: “Introducing OpenBet Locator™ is an exciting move for us and takes our modular product offering to a new level. Built in-house and leveraging AWS technology, we have developed a strong proposition that can be tailored to meet unique business needs.
“As a pioneer within the global sports betting arena for over 25 years, we have an in-depth understanding of the challenges and opportunities operators face within highly regulated markets. OpenBet Locator™ is a scalable, compliant and dependable geolocation solution that removes the barriers to operators’ success.”
Compliance Updates
Gaming CEOs Optimistic on Industry Outlook, Report Evolving Industry Challenges
Amidst an evolving economic landscape, gaming executives report a positive outlook on future industry business conditions while remaining satisfied with the current business environment, according to the American Gaming Association’s (AGA) Gaming Industry Outlook.
Nearly all gaming executives surveyed characterized the current business environment as good (44%) or satisfactory (50%), mirroring similar sentiment from Q3 2023. Meanwhile, executives are more optimistic about future conditions, with 32 percent of CEOs expecting business conditions to improve over the next six months, up from 20 percent in Q3 2023.
“Gaming’s record-setting growth over the last three years has set a new standard for industry success,” said AGA President and CEO Bill Miller. “However, as we enter a period of market normalization, continued investment and innovation in offering world-class, responsible entertainment experiences will be required to maintain industry momentum.”
Gaming Executive Panel
Gaming executives have become more positive in their views that overall balance sheet health will improve over the next 6 months (42% net positive), but they expect the pace of revenue growth (13% net negative) and new hiring (22% net negative) to slow. These expectations for decelerating growth have influenced expectations for increases in capital investment and gaming units in operation, with smaller net positive sentiments than before.
- In contrast to past Outlooks, gaming equipment suppliers are slightly pessimistic about the sale of gaming units for replacement use and new or expansion use (both 13% net negative). However, they remain optimistic about the pace of capital investment (38% net positive).
- Half of operator CEOs expect capital investments in hotels over the next year to be higher than normal, and compared to last fall, more also expect higher than normal levels of capital investment in meetings and conventions and table games (28%). Meanwhile, 44 percent of CEOs expect increases in food and beverage investment, down from 67 percent in Q3 2023.
These expectations are also informed by evolving macroeconomic challenges. Executives report that inflationary or interest rate concerns continue to be a major factor limiting operations (28%), but these have been overtaken by geo-political risk (34%) and uncertainty of the economic environment (34%) as the biggest limiting factors in the most recent Gaming Executive Panel.
Current Conditions Index
The Current Conditions Index of 102.8 for Q1 indicates solid annualized real economic growth in the industry of 2.8%. This includes gaming revenue, employment and employee wages and salaries. Notably, the Current Conditions Index shows gaming expanding faster than the overall U.S. economy which last week reported 1.6 percent GDP growth in Q1 2024.
Future Conditions Index
The Future Conditions Index stands at 102.2, indicating annualized industry economic activity, after controlling for underlying inflation, is expected to moderately increase over the next six months. This outlook reflects Oxford Economics’ forecast that the U.S. economy will slow during 2024 but avoid recession. Despite a projected economic slowdown, consumer survey results continue to indicate that more than one-third of adults expect to visit a casino during the next 12 months, consistent with prior quarter results.
About the Outlook
The AGA Gaming Industry Outlook is prepared biannually by Oxford Economics. It provides a timely measure of recent industry growth and future expectations. The Q1 2024 survey was conducted between March 28 – April 10, 2024. A total of 32 executives responded, including executives at the major international and domestic gaming companies, tribal gaming operators, single-unit casino operators, major gaming equipment suppliers, and major iGaming and/or sports betting operators.
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