Casino City's Pocket Gaming Directory - 2020 Edition
40 Casino City’s Pocket Gaming Directory Casino City Press: Your Guide to the Gaming Industry casino & Gaming vendor licensing guide The audit and enforcement components are somewhat intertwined. The audit process monitors and reviews compliance with the applicable laws, regulations, rules and policies of a jurisdiction. In the event of a violation, the enforcement process will come into play, with regulators enforcing applicable sanctions. These sanctions can include the loss of the privilege towork in the gaming industry in that jurisdiction, suspensions for certain lengths of time, fines, reprimands or other unique penalties developed by a jurisdiction. Many times, if issues arise that compromise one’s gaming license, it can and will have a profound negative effect throughout other jurisdictions that require reporting of such events. Gaming regulatory bodies in various jurisdictions are all involved in licensing and regulating their casino operations. In most jurisdictions, there are also regulatory requirements and possible licensing, registration or exemption processes with respect to vendors and suppliers to casinos. Some jurisdictions only regulate companies selling gaming equipment to casinos, while many others have requirements applicable to nongaming suppliers, as well. The value of a gaming license goes beyond the simple authorization to provide goods or services to casino clients in a single casino gaming jurisdiction. The license also serves as confirmation to regulatory bodies both inside and outside the traditional commercial and tribal bricks-and-mortar casino industry – such as those that regulate iGaming, horse racing, dog racing, charitable gaming and state lotteries – that the company and its principal employees have successfully passed through a rigorous suitability, operations and financial review. Proper licensing provides assurance that a company operates according to high standards of integrity and compliance. As gaming authorities are in close communication with their counterparts in other jurisdictions and other gaming industries, a strong reputation in one jurisdiction can provide a platform for future compliance efforts in other jurisdictions as a company expands into new gaming markets. In addition, most gaming markets are also home to various gaming associations, which serve to unify and educate industry partners. Such associations are important to the gaming industry as they seek to unify the interests of operators, suppliers and regulators, respectively.
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