SBC: The regulatory promise of the UAE market
Key players in the emerging UAE market discuss regulation and the potential of the fast-emerging landscape.
Day two of SBC Lisbon continues with an insightful panel on the UAE gambling market, featuring Kevin Mullally, CEO of GCGRA; Christina Hu, Chief Strategy Officer at Momentum; Lauralyn Sandoval, Vice President of Gaming Strategy and Business Development at Aristocrat; and David Patent, EVP at Wynn Al Marjan Island, moderated by Garret Greene, Senior Vice President at SBC.
The panel starts with the GCGRA at the heart of the conversation, as Sandoval explains the diligent process the regulator has undergone to create a transparent yet effective environment for growth in the UAE.
Naturally, fostering innovation is a key aspect for the new market, with Mullally stating that regulation is a lot like a visit to the doctors – any good regulator needs to focus on the key functions of a market, taking regular check-ins on the vital organs of a market and assessing what kind of healthy lifestyle changes can be taken to ensure a healthy, thriving ecosystem. He also underlines that any issues that arise must always be solved collaboratively, taking into account differing opinions between operators and regulatory bodies, whilst maintaining a consistent set of facts that are understood by both parties. Mullally further explains that the GCGRA’s mission is to recognise and build systems that deal with problems before they arise.
Sandoval builds on this point from the Aristocrat perspective. She highlights that they are always attempting to bring the best to their operator partners, such as Wynn, taking a collaborative approach to lay the framework for innovation between supplier and operators to help foster compliant innovation.
Patent chimes in by stating that it has been a terrific experience working with GCGRA, stating that Wynn approaches the four corners of its business in a very traditional way, and they are aware that they must think about innovation ‘within the bounds of the sandbox.’
Moderator Greene then poses the question of regulation from the provider’s perspective to Mullally, who advises providers not to design their games based on regulatory restrictions. Mullally underscores that if providers take care of the design, they will take care of the regulations, based on data to ensure a safe and protected environment. “We want innovation to lead and regulation to adapt.”
Patent explains that, from Wynn’s perspective, because they are starting from scratch with regard to delivering a casino experience in the UAE, it has enabled them to take a new approach to innovation investment, giving them a chance to be boundless in their offerings for players of Al Marjan Island. Hu builds on that. As the first to be granted a lottery licence, she underscores that everything Momentum has in the UAE Lottery is homegrown. She explains that technology remains at the heart of their offering, with much of their investment remaining in this area.
Sandoval adds that, as Aristocrat was the first provider licensee, they will always strive to bring the most innovative technology to the UAE market. She further highlights that Mullally has said to always bring the GCGRA something new at every available opportunity, as innovative and brand-new approaches become a clearer theme for the outlook of this exciting, new and fresh UAE landscape.
As someone who has lived in the UAE for 10 years, Hu states that every regulation she has encountered in the nation – in and outside of gaming – is built to foster innovation and creativity at every turn. Patent adds that every jurisdiction where innovation thrives has effective and fair regulation, which allows companies to approach their business with a long-term growth outlook.
Greene then shifts focus to tackling illegal gambling in the UAE, posing a question to Mullally on the strategies the GCGRA will take in its approach to regulation. Mullally explains they shut down over 6,000 websites when he first arrived – but that is only the beginning of the work they have begun in the region. He further explains that they will take a relentless approach, with the commitment of extraordinary resources and a highly collaborative approach with regulators across the world to develop effective strategies moving forward. He explains that this area is one of their highest priorities.
Hu takes up the provider perspective, providing a singular comment on the fact that the GCGRA has shut down so many sites speaks to the popularity and potential of the UAE market.
Patent states that the land-based approach is to always create a better option for players than the illegal market, ensuring that they remain the most creative and attractive prospect for gambling in the nation.
Patent concludes by underscoring that the accessibility of the UAE geographically makes the region an unparalleled opportunity and landscape unlike any other, as it connects three continents and fosters an incredibly unique and diverse group of residents that Wynn “simply cannot wait” to serve.
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