The American Gaming Association (AGA) has issued a call for action to states, urging legislators to update and gambling regulations to what it has deemed an evolving marketplace.
As part of its “Advancing Regulatory Modernization: Building on a Record of Success” white paper, the regulatory body has laid out how regulation across a number of states has impacted the market.
“By watching other jurisdictions to identify promising reforms, many are finding new ways to approach their vital mission,” the AGA said.
“Only through constant re-examination of these regulatory standards and many others can regulators achieve their goal of ensuring a successful gaming industry that operates in the public interest while incorporating evolving technologies in today’s fast-paced economy.”
Regulators in Nevada have implemented new rules which will give operators the chance to create single-account play across all verticals, which means consumers can access a centralized account to access multiple services.
According to the report, Ohio and Michigan have “dropped decades-old regulations on the shipment of gaming machines, recognizing that the rules increased costs without serving their regulatory priorities.”
Meanwhile Mississippi and Pennsylvania have increased the ownership share that would trigger the need for an “institutional investor” to obtain a gaming license, which would improve access to capital for licensed operators.
The report added: “The Mississippi commission asked for public comment on an increase of the share of a licensee that an institutional investor could own, to less than 25 percent. A month later, the commission adopted that regulatory revision.
“According to regulators in Pennsylvania and Mississippi, their upward revision of the institutional investor ownership limit has drawn no negative comments or episodes.
“They express satisfaction with the balance they have struck between the industry’s need to attract capital and their mission to protect the industry’s integrity.”