GamblingCompliance: Gaming Industry Seeks Modest Changes To AML Requirements, Senator Says

18th Jan 2018 | Written by: Chris Sieroty Nevada Democratic Senator Catherine Cortez Masto told federal authorities on Wednesday that the gaming industry would welcome a review of some money laundering laws and Bank Secrecy Act (BSA) requirements which have created a compliance burden for casinos. During a Senate Banking, Housing and Urban Affairs Committee hearing, … Continue reading GamblingCompliance: Gaming Industry Seeks Modest Changes To AML Requirements, Senator Says

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GamblingCompliance: States Start Asking: Should Loot Boxes Be Regulated As Gaming?

24th Jan 2018 | Written by: Chris Sieroty Lawmakers in Washington state and Indiana have introduced similar bills calling on gaming regulators and law enforcement officials to determine if loot boxes are a form of gambling, a legislative maneuver being welcomed by an advocacy group. “We are not against gambling as a practice,” said Christopher Hansford, … Continue reading GamblingCompliance: States Start Asking: Should Loot Boxes Be Regulated As Gaming?

GamblingCompliance: U.S. Congress Takes First Steps Toward AML Reforms

10TH JAN 2018 | WRITTEN BY: CHRIS SIEROTY The U.S. Congress began a series of hearings on Tuesday to consider ways to reform money laundering and illicit finance laws applied to casinos, as a president of a payments company argued the current system is broken and driven by perverse incentives. “Our current anti-money laundering (AML) and … Continue reading GamblingCompliance: U.S. Congress Takes First Steps Toward AML Reforms

GamblingCompliance: U.S. Gaming Industry Gets Some, But Not All, Wishes Granted In Tax Bill

21ST DEC 2017 | WRITTEN BY: CHRIS SIEROTY Congressional Republicans delivered a massive overhaul of U.S. tax laws to President Donald Trump on Wednesday, approving significant tax cuts for both individuals and businesses, including the gaming industry. The Tax Cuts and Jobs Act sharply cuts the corporate tax rate as corporations will face a 21 percent statutory tax … Continue reading GamblingCompliance: U.S. Gaming Industry Gets Some, But Not All, Wishes Granted In Tax Bill

GamblingCompliance: Massachusetts Preparing For Supreme Court Ruling On Sports Betting

8TH DEC 2017 | WRITTEN BY: CHRIS SIEROTY The U.S. Supreme Court next year is expected to overturn a federal ban on sports betting and gaming regulators in Massachusetts agreed on Thursday to research how a possible state-wide sports betting industry would work. Ed Bedrosian, executive director of the Massachusetts Gaming Commission (MGC), said that although … Continue reading GamblingCompliance: Massachusetts Preparing For Supreme Court Ruling On Sports Betting

GamblingCompliance: U.S. Casinos At Risk Of RICO Lawsuits From Marijuana

30TH NOV 2017 | WRITTEN BY: CHRIS SIEROTY A federal law designed to prosecute organized crime has given opponents of states that have legalized marijuana a tool in their efforts to slow down the expansion of the industry, putting casinos at risk if they do business with marijuana companies, according to one top lawyer. Brian Barnes, … Continue reading GamblingCompliance: U.S. Casinos At Risk Of RICO Lawsuits From Marijuana

GamblingCompliance: New Jersey Congressman Expects PASPA To Be Overturned

17TH NOV 2017 | WRITTEN BY: CHRIS SIEROTY As one of New Jersey’s leading supporters of legalizing sports betting, Congressman Frank Pallone expects the U.S. Supreme Court to issue a favorable ruling in the state’s case, but he believes there is enough political support to overturn the ban even if the federal law is upheld. “The … Continue reading GamblingCompliance: New Jersey Congressman Expects PASPA To Be Overturned