Regulators approve GVC’s Nevada license
GVC Holdings has been approved to operate in Nevada following a hearing with the Nevada Gaming Commission (NGC).
On 8 May, GVC was recommended for a two-year limited license by the Nevada Gaming Control Board (NGCB) and the NGC has supported this decision in a 4-0 vote.
In the four-hour hearing with the NGCB, GVC CEO Kenny Alexander was questioned on failings to supervise online gaming transactions in Turkey. This issue could have been problematic as the operator progressed to its final stages of operation.
GVC started yesterday’s hearing by apologising for its actions, including its response to the line of questions earlier this month. Outgoing Chairman, Lee Feldman, brought up the issue of compliance and told the NGC the company had upgraded its measures in the area.
Virginia McDowell, GVC board member, will oversee compliance activities.
NGC Chairman, Tony Alamo Jr, took a metaphoric approach in his comments. He is reported by CDC Gaming Reports to have said: “You have a leash and that gives me some comfort. I don’t think I need to shorten the leash. I’m very comfortable going forward you won’t step on a nail.”
As part of its preliminary approval, GVC was ordered to pay $100,000 for compliance investigations into its own operations. Representatives of GVC did not challenge the two-year limitation.
During the hearing, Feldman informed the Commission the joint venture between GVC and MGM Resorts International had commenced early stages of operation and opened an office in Las Vegas.
It has a staff of 14 with Adam Greenblatt, a former Director at Ladbrokes, appointed CEO in October.
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