The Nevada Gaming Commission grants GVC Holdings a license for its PartyPoker brand
May 27, 2019
GVC Holdings, a giant online gambling platform, recently received approval to operate in the state of Nevada. They will have a limited gaming license. The Nevada Gaming Commission gave their approval for this new setup. They are the ones responsible for regulating online gambling and administering the regulations for it.
What's the Gameplan?
Some experts have speculated that GVC Holdings has made this move with the intentions of opening up their Partypoker platform. GVC partnered with MGM Resorts International, and the obvious motive was that they wanted to get approval for Roar Digital. It would become a joint venture between the two gaming giants. In the application, a request was made for the operation of interactive gaming. This points in a single direction because of how Nevada only covers online poker under their current gambling bill. That could mean that Partypoker could soon emerge in the online realm for Nevada residents.
The History of GVC Holdings
The Nevada Gaming Control Board had a recent four-hour meeting where board officials questioned Kenny Alexander, the CEO of GVC Holdings, about his alleged failure to follow through supervising the gambling operations in Turkey. That issue came back to haunt the company as they tried to pass through with the gaming board, but they didn't get through without dealing with a bit of drama in the process. GVC Holdings made an apology for its actions, and Lee Feldman, the outgoing chairman, brought up the previous issues with compliance and how the company has adopted new measures with the intentions of improving their abilities in this area. As part of GVC's preliminary to approval, they would first need to pay $100,000 to look at compliance investigation at its own operations so that the state could have confidence in them. The representatives from GVC Holdings made no effort to challenge the two-year limitation placed on them.
The Nevada Gaming Commission has decided to grant GVC Holdings a license for online poker, but it does come with a leash. This could be exciting for some players because of how they will be granted a local gaming license. The Nevada Gaming Commission has taken a unique stance where they will, "trust but verify" everything related to GVC Holdings. The two-year limitation and investigation into their compliance help regulators to feel comfortable with letting this company in. Currently, GVC already operates its PartyPoker brand in the state of New Jersey.