British gaming giant Entain is looking at a three-year betting license in Nevada as the Nevada Gaming Commission (NGC) will now deliberate the matter on May 20.
Silver State Ready to Issue Three-Year License to Entain
Entain will be most likely strengthening its presence in the Silver State through a three-year license in the wake of a Wednesday meeting with Nevadan gaming regulators.
The Nevada Gaming Commission (NGC) will now have the final say on the matter as it heads for deliberation on May 20. The main concern for Nevadan regulators seems to be a stipulated relation with unlicensed gaming operations, which has been part of Entain’s transformation.
Since it rebranded from GVC Holdings in 2020, Entain has maintained a zero-tolerance policy towards unregulated gambling, severing all ties that may put the company’s profile as a fully licensed entity at risk.
The company has set a deadline by May 2024 to withdraw from all unregulated markets it may currently hold some assets in, a lengthy phasing out process that wants to ensure that Entain gets everything right.
Presently, Entain is exploring what options it has to retain its relationships in markets that may not be fully regulated and do so in a transparent and regulatory-approved manner, something the company sought out under GVC Holdings but now may now need to re-address because of rapid regulatory changes worldwide.
Entain Chairman Barry Gibson had this to say to the Nevada Gaming Control Board (NGCB): “We want to be the world leader in every aspect of sports wagering. We wanted to be the most exciting and trusted operator in North America.”
Promising Transformation Encourages Regulators in Entain’s Case
Entain has been actively working towards creating a diverse and multi-jurisdictional company not just in Europe and the United States but on other continents, too. The appointment of Jette Nygaard-Andersen in the wake of former CEO Shay Segev’s withdrawal was welcomed as a defining moment in the industry, with the first female executive taking over the reins of a major gambling company.
There have been multiple appointments across the board, reinforcing Entain’s stated goal of creating a better and fairer gaming product for everyone. A strong point for the company was the fact that it’s leveraging technology to predict consumer behavior and help keep vulnerable individuals out of harm’s way.
The company is phasing any lingering assets it may own from Turkey and Russia, the Las Vegas Review-Journal reported. In the meantime, Entain is running a joint venture with MGM Resorts. Roar Digital is the current operator of one of the United States’ most successful iGaming and sports betting companies, BetMGM.
The relationship between Entain and MGM Resorts International experienced a very small bump when the latter offered to buy out Entain, but the company argued that the bid greatly undervalued its assets and requested more information, at which point the offer was shelved altogether.