GVC Receives Nevada and New Jersey Approvals
Several weeks ago, GVC Holdings took its first major step into gaining entry to the online poker market in Nevada. It obtained preliminary approval for an interactive gaming license from the Nevada Gaming Control Board.
On May 23, GVC executives went before the Nevada Gaming Commission for approval. And it worked. The four-member panel unanimously approved GVC for Nevada operations for an initial two-year period.
On the East Coast of the US, the New Jersey Division of Gaming Enforcement awarded a transactional waiver to Roar Digital, which is GVC’s partnership with MGM Resorts for sports betting and online gaming in the US market.
It has been a good few weeks for GVC.
When might GVC be ready to launch online poker in Nevada? There is little known about what platform will be used and the full intentions for Nevada gaming. But it is almost assuredly on the way.
Nevada Approvals, Step 1
The delays have ben many for GVC to enter the Nevada online gaming market. But those issues have been worked out to the point that they are no longer obstacles.
GVC had to convince the members of the Nevada Gaming Control Board that it was in good standing. The problem was that GVC encountered a situation in 2018 that put the company in a bad light.
GVC acquired Ladbrokes Coral Group in March 2018, and with it came the latter’s Turkish operations. However, online gaming was illegal in Turkey, which meant the company was operating in an illegal market for several months. By the end of 2018, GVC sold that Turkish sector. However, Nevada regulators wanted to know why it took so long to offload that Ladbrokes Coral arm and how GVC could be trusted not to engage in anything similar going forward.
Kenneth Alexander, GVC’s CEO, appeared before the Gaming Control Board to assure its members that the problem was unfortunate, solved, and would not be repeated. Two of the three board members were convinced and recommended approval for a license as an interactive gaming service provider.
That provisional license was issued for a two-year period and will be reassessed at that time. GVC was also ordered to pay the board $100,000 to hold for any possible future investigations necessary to oversee GVC’s compliance with Nevada regulations.
GVC (MGM partner) receives preliminary approval for interactive gaming license in Nevada… Could a @partypoker / @MGMResortsIntl site be in the works to compete for online poker in Nevada? https://t.co/8UX0BGEyK3 pic.twitter.com/SBLObpbPoD
— Legal US Poker (@legal_poker) May 20, 2019
Nevada Approvals, Step 2
On May 23, the Nevada Gaming Commission held its hearing for the final regulatory approvals needed to operate in Nevada. The four-member panel unanimously voted for approval for that initial two-year period.
Commissioner John Moran commented on his vote to approve while speaking to Alexander. “The test is going to see if, in fact, the trust you’re asking us to give you … if we’re going to get egg on our face. I want to see you go forward and prosper within the confines of the law.”
Nevada Gaming Commission approves GVC for a two-year limited gaming license. GVC, which operates such brands as bwin, Coral, and Ladbrokes, will move forward with its 50-50 joint venture with @MGMResortsIntl to develop Roar Digital, a new sports wagering operation. @GamblingComp
— Chris Sieroty (@sierotyfeatures) May 23, 2019
With that, the door opened for a new online poker site in Nevada.
New Jersey Approvals
GVC does have a presence in New Jersey, as its PartyPoker online poker and casino brand is affiliated with the Borgata Casino. That allows the Borgata to host NJ.partycasino.com and NJ.partypoker.com alongside its other online gaming skins.
In March 2019, MGM Resorts petitioned the New Jersey Division of Gaming Enforcement for a transactional waiver alongside GVC Holdings, Bwin.Party, Stadium Technology, and Roar Digital. That was since approved, giving GVC’s Roar Digital a temporary license to operate internet gaming and launch sites for a six-month period until full licensure is granted.
According to GVC, Roar Digital can now offer sports betting and online gaming in New Jersey in association with MGM Resorts.
Roar Digital Ready to Roar
As it appears, GVC will be preparing to offer online poker in Nevada and a range of betting services in New Jersey under its Roar Digital arm.
Alexander commented, “I am delighted the Nevada Gaming Commission has confirmed that GVC meets its stringent regulatory requirements in order to offer betting and gaming products in the state. Coming at the same time as Roar Digital receives a transactional waiver to operate in New Jersey, GVC and our MGM joint venture are hitting important milestones which pave the way for the creation of a market-leading US betting and gaming business.”
More information is likely to come on the projects sooner rather than later.
— Howard Stutz (@howardstutz) May 23, 2019