Entain’s Nevada licence has been granted by the Silver State’s Gaming Commission (NGC) after the board voted unanimously to fully embrace the gaming giant.
The licence itself is unconditional, which was given the green light on May 1. A fortnight after, the licence was then issued after a second hearing from Entain’s senior hierarchy.
Those in attendance were chairman Barry Gibson, general counsel Simon Zinger and interim CEO Stella David. Entain will now secure full market access in America’s most sought after gaming market.
In February 2024, Nevada reported $1.34Billion in gaming revenue. Furthermore, the state generated an all-time high of $15.25bn in 2023. This was an increase of 4.6% compared to the previous record.
Entain’s Nevada Licence
Entain – who co-owns BetMGM and MGM Resorts – was recommended for their licence by the Nevada Gaming Control Board at the start of May.
As part of the second hearing and subsequent presentation from Entain’s senior leadership, the NGC were happy to approve the licence.
However, this was only after Entain provided a thorough and comprehensive plan to improve its sustainability and regulatory framework.
Previously, Entain had operated in Nevada under temporary two and three-year licences. The latter expired earlier this month. The NGC were concerned with historical business practices but they firmly believe that is now in the past.
“The company has taken great strides not only to move past some of the historical issues but to accept responsibility for them and find ways to learn and grow,” said Entain attorney Erica Okerberg in a statement.
Perhaps one of the biggest concerns from the NGC’s perspective was Entain’s presence in up to 140 unregulated markets.
Consequently, Entain lost approximately $100m in profit. However, this came as a result of acting ethically and morally, according to Gibson.
Now, Entain’s Nevada licence will help the firm flourish further and really leave their mark in the Silver State.
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