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NEWS 10 May 2019

GVC to pay $100,000 for compliance investigations following preliminary Nevada approval

By Matthew Enderby

GVC Holdings progressed in its desire to operate in Nevada following a hearing on Wednesday.

The operator was recommended for licensing by the Nevada Gaming Control Board following a 2-1 vote.

The board recommended the approval of a provisional license for GVC, which would require the operator to return to regulators in two years to re-assess performances.

GVC must also foot the $100,000 bill for future investigations into its own compliance levels.

GVC  entered into a 50-50 sport betting joint venture, Roar Digital, with MGM Resorts International in July last year.

The Nevada Gaming Commission will meet on 23 May to take the final steps in approving or rejecting GVC for its state license.

In Wednesday’s hearing, board member Phil Katsaros voted with Chairwoman Sandra Morgan in favour of the recommendation.

Terry Johnson voted against the approval recommendation and directed questions at GVC CEO Kenny Alexander for failing to supervise operations in Turkey.

The Las Vegas Review-Journal reports Johnson as having said: “I’m at a loss to understand where exactly did the buck stop in the company if it didn’t stop with you, and why are we to be assured that going forward you’re going to be at the helm of this company in a different manner than what transpired over the past several years?”

GVC is currently licensed to operate poker and online gambling in New Jersey. It has a partnership with MGM at its Borgata property in Atlantic City.  

 

RELATED TAGS: Online | Industry | Sports Betting | Legal & Regulatory
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