Despite facing recent hurdles in compliance, Entain and Accel Entertainment have secured full gaming licenses from the Nevada Gaming Commission. This green light from the Commission marks a significant achievement for these organizations, signifying their adherence to Nevada’s rigorous licensing regulations.
Entain Shifts Focus to Compliance, Securing Nevada’s Full Licensing Approval
Entain, a leading British sports-betting and technology enterprise, had previously been operating under restricted licenses due to the Nevada Gaming Commission’s reservations about its activities in unregulated markets. However, according to Erica Okerberg, Entain’s legal representative, the company has made significant strides in addressing these concerns.
In addition, Barry Gibson, Entain’s chairman, highlighted the company’s strategic pivot away from underregulated markets, as reported by CDC Gaming. Gibson emphasized the financial burden of this transition, noting that Entain exited more than 140 markets, incurring a $100 million revenue loss as a result.
Gibson further explained that Entain’s current strategy prioritizes regulatory compliance over short-term profits, with 95% of the company’s revenue now originating from regulated markets. Entain anticipates adding Brazil to this roster once the country’s gambling regulations are finalized.
During the licensing hearing, commissioner Brian Krolicki lauded Entain for its exemplary governance and ethical practices. Krolicki described the company’s compliance model as a paradigm example for the industry.
Accel Entertainment Achieves Full Nevada Licensing After Significant Compliance Overhaul
Likewise, Accel Entertainment, an Illinois-based supplier of video gaming terminals, has shown considerable improvement in compliance. The company had previously been fined $5 million by Illinois regulators for offering illegal incentives, which prompted a comprehensive revamp of its compliance framework.
Karl Peterson, chairman of Accel’s board, addressed the Nevada Gaming Commission, assuring its members of the company’s intensified efforts in diligence, compliance, and oversight.
Demonstrating its dedication to regulatory compliance, Accel recently acquired Century Gaming for $164.2 million.
Commissioner Rosa Solis-Rainey praised Accel for its initiative, specifically highlighting the company’s use of resources such as UNLV to develop training programs.
In the aftermath of the licensing hearing, gaming consultant Brendan Bussmann remarked that both Entain and Accel Entertainment have met their obligations for obtaining a full Nevada license. According to Bussmann, maintaining these standards is crucial to prevent future regulatory challenges. Notably, at the start of May, the Nevada Gaming Control Board had recommended the full licensure of both Entain and Accel Entertainment.
