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Virginia passes bill for casino legalisation

Niji Narayan

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Virginia passes bill for casino legalisation
Photo Source: nikkei.com
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In a historic development, Virginia’s state General Assembly has passes the casino legalisation bill. The bill will now move to Governor Ralph Northam’s desk. The governor is expected to support casino legalisation. After which there will be city-wise referenda. In other words, casino legalisation is imminent in Virginia.

State House and Senate lawmakers okayed Substitute Senate Bill 1126. The bill proposes casinos in the cities of Bristol, Danville, and Portsmouth, following clearance from citywide referenda. This means that residents will have the final say on whether any of the three cities should host a gambling venue.

The approval of the casino legalisation bill was the first major gambling expansion effort to successfully survive through Virginia’s Legislature in recent years. State lawmakers have traditionally been opposed to all forms of gambling.

Bill 1126, which was nearly identical to a legislation introduced by Senators Bill Carrico and Louise Lucas earlier this year, also proposes referenda in Richmond and Norfolk, which the Pamunkey Indian Tribe has identified as the potential hosts of a tribal casino.

The casino bill’s approval came as an excellent piece of news for a group of Bristol businessmen, who presented last September a plan to develop a $250 million casino resort at the vacant site of Bristol Mall.

Compliance Updates

FANDOM SPORTS Retains Segev LLP as Lead Counsel for Global iGaming Licensing

Niji Narayan

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FANDOM SPORTS Retains Segev LLP as Lead Counsel for Global iGaming Licensing
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FANDOM SPORTS Media has retained Segev LLP as lead counsel for all endeavours pertaining to global iGaming licensing. The Company will be undertaking a strategic review to prioritise jurisdictions that will enable the firm to expand its regulatory footprint efficiently and at scale.

Segev LLP employs a strong iGaming team with corporate, commercial, IP commercialisation, M&A, private equity finance, public markets finance, privacy and data, and regulatory and compliance experience.

In advance of the iGaming initiative, the Company has also secured a domain and brand identity surrounding the betting platform. www.gamersatodds.com unifies the business plan and opportunity that the Company will be executing upon.

“We are pleased to take definitive steps towards accelerating our dual initiatives of the all ages Esports engagement platform and the pure play regulated Esports betting platform. Regulated Esports betting is now a mainstream business opportunity and there is an implied quantifiable value for these types of businesses. We look forward to accelerating our licensing initiatives and building a true global Esports betting brand that is fully regulatory and compliant,” David Vinokurov, CEO and President of Fandom Sports, said.

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Compliance Updates

MGA Publishes Consultation Paper on Suspicious Betting Reporting Requirements

Niji Narayan

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MGA Publishes Consultation Paper on Suspicious Betting Reporting Requirements
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The Malta Gaming Authority (MGA) has published a consultation paper on suspicious betting reporting requirements and other sports integrity measures.

In August 2019, the Malta Gaming Authority announced the establishment of a Sports Integrity Unit. It is the Authority’s intention to implement a set of Suspicious Betting Reporting Requirements, which will oblige B2C licensees offering betting on sporting events to inform the Authority of any instance of suspicious betting.

Prior to bringing into force these requirements, the Authority is reaching out to stakeholders for feedback on the proposed mechanisms for due consideration. In consolidating perspectives of interested parties through public consultation, the Authority is better placed to implement effective and efficient regulatory processes around suspicious betting in the sports betting sector.

In addition, the Authority is also interested in initiating a dialogue with B2B licensees to consider what their contribution towards sports integrity can look like in terms of detection and exchange of information with either B2C licensees, or the Authority itself.

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Compliance Updates

G2 Esports Partners with Brandgenuity to Expand Global Licensing Efforts

Niji Narayan

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G2 Esports Partners with Brandgenuity to Expand Global Licensing Efforts
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G2 Esports has partnered with Brandgenuity to strategically expand its global licensing efforts. Brandgenuity is a leading global independent brand licensing agency headquartered in New York.

“G2 is building a lifestyle and entertainment empire. We have designed and developed streetwear-inspired collections and merchandise that sell out almost instantly thanks to the #G2ARMY and we want to continue to bring our fans merchandise that makes them proud to rep G2. The Brandgenuity team demonstrated that they understood both our brand and our dedication to entertain at all costs and we know they will propel us forward in our global licensing efforts,” Carlos “ocelote” Rodriguez, Founder and CEO of G2 Esports, said.

“We are thrilled to be working with G2 Esports, who are one of the most dominant teams in the world, and the undisputed leaders in fan engagement and world-class entertainment. This brand has everything we look for to build a great licensing program; double-digit growth trajectory, a distinctive personality and truly passionate fans,” Teri Niadna, Managing Director of Brandgenuity Europe, said.

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