“I think the biggest thing is don’t handcuff regulators, instead empower them to work with operators to create the best environment,” expressed Josh Pearl, Director, New Market Operations, Penn National Gaming who believes regulatory bodies should be provided a framework to work in an efficient manner.
Participating in the State Affairs – 2020 Regulatory Roundup panel during day-one of the SBC Digital Summit North America, Pearl went on to state that any regulatory body should be urged to be able to create an environment that is competitive with illegal markets.
He said: “With respect to legislation, any state that is legalizing is looking for new revenue. In order to be able to push things out in an efficient manner and also to be able to push out end products, going to convert those illegal wager dollars to the legal market is key.
“Any legislation should provide a framework for the regulatory body to be able to effectively roll things out in an efficient manner. It’s key to power them with the tools to be able to create an environment that is competitive but it’s also competitive with the illegal market to be able to shift those dollars over.”
Those thoughts were echoed by Rebecca Giden, Senior Analyst, EK Gaming LLC, who emphasized that from a legislative perspective, the market should remain ‘as open and as flexible as possible’ to have a successful market and maximize tax revenue.
She continued: “When we talk about an open market the big points we want to make here are including mobile betting. We see in New Jersey, Pennsylvania, and Indiana, these markets as they mature are quickly settling into about 85 to 90% of the amount wagered is coming from mobile vs retail sportsbooks.
“And, as Josh mentioned, giving regulators a high degree of flexibility to adapt to a market place that changes by the month certainly through this pandemic.”
Joining Pearl and Giden on the Integrity Aristotle-sponsored panel, were John Pappas, Founder and CEO, Corridor Consulting; and Stacie Stern, Director, Government Affairs, FanDuel; with moderating undertaken by Anthony Cabot, member of the Board of Advisors, UNLV International Center for Gaming Regulation.
SBC Digital Summit North America recreates many of the key features of a physical trade show, providing attendees with an opportunity to learn, make new connections, and view the latest products from the comfort of their own home or office.
Running alongside the conference content is a program of themed networking sessions, while attendees will also have further opportunities to connect at workshops and in the 20-booth interactive exhibition hall where major international suppliers will showcase their latest innovations.
SBC Digital Summit North America is running this week July 14-16. To register or obtain more information visit the event’s official website.