Compliance Updates
Metropolitan Gaming Wins Compliance Team of the Year Award
Metropolitan Gaming has won the “Compliance Team of the Year – Non-Financial Services” at the ICA Compliance Awards Europe 2023, recognising its effective approach in terms of ensuring player protection, combating financial crime and meeting high compliance standards.
The success of Metropolitan Gaming’s compliance output follows adoption of an advanced “3-lines of defence” strategy. In addition, the Group worked to further mitigate AML and social responsibility risks and to develop a more fluid customer journey. It also invested in additional manpower at venue level and centrally to develop more effective management information tools. Its delivery and monitoring regime was reviewed regularly, and a period of continuous improvement has since followed across the company-wide compliance programme.
Evidencing this in the HM Treasury Supervision Report 2020-22, the Gambling Commission presented Metropolitan Gaming as a positive case example of how far the company has progressed by making “significant improvements in culture, policies, procedures and delivery”.
ICA President, Bill Howarth, commented: “We congratulate Metropolitan Gaming for their outstanding achievements and for driving excellence in financial crime prevention and compliance. We have been really impressed by the volume and quality of entries and congratulate all winners and highly commended entrants for being recognised for their collaboration, innovation and dedication. Thank you to everyone who attended the ceremony last evening and we look forward to welcoming you again for another successful edition in 2024.”
Jimmy Howard, Group Compliance Director at Metropolitan Gaming, added: “Metropolitan Gaming strives to benchmark standards in compliance across the industry and we are honoured to be recognised for the work and commitment on the part of so many that has helped us to achieve this award. This award recognises the excellence within our venue teams who deliver compliance and the support teams that provide the tools to facilitate compliance.”
The ceremony was attended by over 360 guests, bringing together regulatory and financial crime prevention professionals, to celebrate the contributions of individuals and companies combating financial crime and meeting high compliance standards. The evening celebrated the achievements of a total of 119 shortlisted finalists. Selecting the winners for 2023 was an esteemed judging panel comprising 66 senior compliance and financial crime prevention leaders from across the ICA membership, ICA subject matter experts and the wider compliance community.
Arizona Department of Gaming
Arizona Department of Gaming Announces Allocation for Event Wagering License for Fanatics
The Arizona Department of Gaming (ADG) announced that it has allocated an event wagering operator license to Fanatics Betting and Gaming as the designee for Tonto Apache Sports Betting, an organization of the Tonto Apache Tribe, pursuant to A.R.S. § 5-1304 and A.A.C. R19-4-105 and 106.
On January 16, 2024, ADG announced that it would begin accepting applications for available event wagering licenses, which included one event wagering license reserved for Arizona Tribes and no less than one event wagering license reserved for Arizona Sports Franchises, as defined in A.R.S. § 5-1301(7).
The application window for event wagering licenses opened on February 16, 2024, and closed on March 4, 2024. Applicants were required to submit their completed applications within this timeframe in order to have been considered for an event wagering license.
Compliance Updates
Minnesota Senate Committee Advances Sports Betting Bill
The Senate Tax Committee advanced legislation authored by Senator Matt Klein (DFL – Mendota Heights) to legalize Sports Betting in Minnesota. This was the second time the bill has been heard in Taxes, after making a stop last year. The hearing focused on changes to tax rates and revenue disbursements.
Senator Aric Putnam (DFL – St. Cloud) offered an amendment that made several major tax and revenue related changes, which were adopted by voice vote. The tax rate was changed to 20% on net revenues from sports betting. Revenues as a result of that change would then be dispersed to:
(1) 20% for tax relief for charitable gaming organizations,
(2) 10% for treatment and awareness programs for problem wagering,
(3) 15% for Explore Minnesota Tourism for large sporting events,
(4) 5% to the Minnesota Racing Commission for racetracks,
(5) 5% for the Minnesota State High School League for youth sports and activities,
(6) and the remainder to the general fund.
Senator Klein said: “The changes made in Senate Taxes Committee today have made this a better bill for Minnesotans. I am thankful for the committee’s thoughtful consideration of this legislation and willingness to work toward the best balance of needs and interests.
“As a result of this work, we are now able to support our allied charities who engage in gaming so they can continue the good work they do for our state. We are also able invest in the state high school league’s ability to foster participation in a wider array of activities, attract more large sporting events to Minnesota, and continue to focus efforts on problem wagering awareness.”
SF1949 passed the Senate Taxes Committee as amended and was referred to the Senate Finance Committee.
ADG
Arizona Department of Gaming Announces Allocation for Event Wagering License
The Arizona Department of Gaming (ADG) announced today that it has allocated an event wagering operator license to Fanatics Betting and Gaming as the designee for Tonto Apache Sports Betting, an organization of the Tonto Apache Tribe, pursuant to A.R.S. § 5-1304 and A.A.C. R19-4-105 and 106.
On January 16, 2024, ADG announced that it would begin accepting applications for available event wagering licenses, which included one event wagering license reserved for Arizona Tribes and no less than one event wagering license reserved for Arizona Sports Franchises, as defined in A.R.S. § 5-1301(7).
The application window for event wagering licenses opened on February 16, 2024, and closed on March 4, 2024. Applicants were required to submit their completed applications within this timeframe in order to have been considered for an event wagering license.
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