INSIGHT IAGA SUMMIT WASHINGTON DC - MAY 28-30
What are the biggest compliance and licensing issues in your in tray?
We focus on any number of issues, but among the most significant are anti-money laundering and anti-fraud protocols, responsible gaming, and dealing with the threats posed by illegal operators.
What issues is increasingly sophisticated AI posing to ensuring sustained compliance for sportsbooks, particularly in the US where sports betting is highly regulated and rules vary between states?
As an industry we are all looking at the increase in sophistication in AI and ensuring we understand the concerns raised by it.
How is PENN's compliance team mitigating the challenges and risks of AI?
We continue to work closely within the industry as well as with our external partners to ensure that we are carefully evaluating any new risks and ensuring we have appropriate controls in place.
Are gaming's compliance requirements and data protection regulations keeping up with AI to maintain the security of user data? Are other technology industries doing a better job of it?
Regulators are appropriately studying the impacts of AI on the industry. Te gaming industry has often been at the forefront of technology and I anticipate it will be a leader in understanding AI as well.
What are the existing regulatory considerations for operators partnering with sports leagues and teams?
Regulators are focused on ensuring integrity and trust. One way to do so is through the use of robust guardrails regarding the use of confidential team information and how that information is protected.
Will the number of growing partnerships between leagues and operators eventually result in regulatory licensing requirements and obligations? Ethically, do you believe they should?
Te robust regulatory structure of the gaming industry has a longstanding history of effectively determining licensing requirements. Regardless of whether a party is licensed or not, gaming companies are required to ensure that their commercial partners are suitable from a gaming perspective. Tose longstanding safeguards protect integrity and suitability.
Another prominent means of brand enhancement for operators are partnerships with media networks. How is the compliance assessment for media networks different from sports leagues?
Chris Soriano Vice President, Chief Compliance Officer Penn Entertainment, Inc.
Chris Soriano is Vice President, Chief Compliance Officer at Penn Entertainment, Inc. In that role he is responsible for overseeing regulatory compliance at the company’s 41 gaming properties in. 19 US jurisdictions. Prior to joining Penn Entertainment in 2020, Chris was a partner in the Trial Practice Group of Duane Morris LLP since 2015 and prior to that was an associate in the firm since 2009. There, his practice concentrated on gaming law and commercial litigation. He has experience before numerous gaming regulatory bodies including the Pennsylvania Gaming Control Board and the New Jersey Division of Gaming Enforcement and Casino Control Commission. He has conducted internal investigations of gaming companies and advised clients with respect to compliance and control enhancements. Chris is regularly featured in various mainstream and gaming industry publications commenting on developing issues in gaming law.``
An important part of a partnership with a media company is, as discussed with leagues above, the protection of confidential information. We, for example, have implemented a thorough set of protections on this topic to ensure that confidential information remains properly compartmentalized.
Is the onus on PENN's media network partners to ensure any enticements to bet are conveyed responsibly, or does the buck stop with the operator? How are responsibilities shared?
As the licensed operator, PENN is responsible for compliance with responsible gaming requirements. PENN collaborates closely with all of its partners to ensure that everyone is aligned on responsible gaming compliance.
What responsible gambling best practices can US jurisdictions take from around the world? What are the best programmes that Penn has taken part in?
A strong self-exclusion policy is critical, and PENN’s industry leading exclude-one, exclude-all policy whereby a customer who self excludes at any location or online is excluded from all PENN facilities and online gaming offerings is one of our best programs. In addition, customer education as well as collaboration with responsible gaming organizations keeps the dialogue going so that we can all enhance best practices together.
WIRE / PULSE / INSIGHT / REPORTS P69
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