G2E Asia panel: 'Compliance is more than just filling out paperwork'

Updated:2024-03-21 13:32    Views:143

Hosting the panel was Daniela Guerreiro, Associate at MdME Lawyers, while guests on the panel were Vincent Tong, Executive Director – Screening & Compliance at MGM Grand Paradise and Joe Pisano, CEO, at Jade Entertainment & Gaming Technologies.

On the panel, Tong and Pisano discussed key requirements on compliance within the gaming industry, providing insights on how to navigate through compliance as a new operator, or as an operator in a new and/or expanding market.

Tong has experience working in compliance within the gaming industry in Macau, and has witnessed the evolution of Macau over the years. 

Tong said: “In June last year, the Macau Government issued the amended law regarding the operations of casinos and, in January this year, the Government issued an amended law regarding the China operations laws. 

“The law states that junket operators cannot deposit on behalf of any third party, game chips or cash. In the past year or so, there have been some major cases, arrests and criminal convictions against some of the major card game operators because of this.

“Some of those primal issues that it mentioned were about the illegal deposits from each of the operators and also the maintenance of their own cage,Baccarat strategy simulator where there are some loopholes in the operations that the other operators may get.”

Different jurisdictions have different types of regulatory landscapes, so how do countries create an established and sustainable gaming industry, while also being able to profit and make room for other emerging markets?

Responsible gaming is very important to us. So whether we're in Sri Lanka or the Philippines or Nepal, we implement responsible gaming practices because we see the benfits of compliance and sustainability in our business – Joe Pisano

Pisano said: “I look at it from the view of an operator. Compliance is more than just filling out paperwork. When we look at it, it's crucial for us to build trust in the industry, trust amongst investors and trust among players. 

“Some of the emerging markets, we need to adhere to local laws and what do we do? As a company, we look at one local law and comply with the regulations in the local area. Responsible gaming is very important to us. So whether we're in Sri Lanka or the Philippines or Nepal, we implement responsible gaming practices because we see the benefits of compliance and sustainability in our business."

When abiding by compliance regulations, there are benefits that come with it. Pisano said: “It's very important to collaborate with local stakeholders. Not everyone wants to game in the city, so collaborating with them and working with them; and thinking how can what we do benefit them? How can we protect their citizens and what measures can we put in place to protect their citizens?”

Pisano continued: “We operate both online and on-land, so we need to verify who has registered, if it's actually them and then they need to produce an ID with a photograph. Are they the right age to play? In some countries, there are religious considerations and then other countries have geo-fencing considerations.

"Are they allowed to play in the area where you're at? And that could be sports betting or online slots or even fantasy. Some states allow school games, some don't. So you need to be careful in those areas.”


Powered by WTGBET @2013-2022 RSS地图 HTML地图

Copyright 站群系统 © 2018-2024 版权所有