American Gaming Association Seeks Regulatory Reform in New Industry Study

The American Gaming Association, the industry’s most powerful lobbying group, released a set of ideas for regulatory reform this week and communicated the proposals at the Global Gaming Expo currently being held in Las Vegas.

In the Association’s most recent white paper, composed by casino employees and regulators, it makes recommendations for “streamlining gaming regulations while maintaining the integrity of the industry and its regulatory system,” citing both national and state-level reforms.

The AGA says that cutting the costs endured by casinos in the regulatory process is a winning solution for everyone. The Association maintains that job growth and investment are curtailed by excess “red tape,” some of which could be outdated and not serving its original purpose, especially in a era that is being pushed by evolving online gaming technology.

“This white paper makes a significant contribution to the existing dialogue about updating regulations to accommodate new gaming technology and the corporate and global nature of today’s gaming industry,” said AGA President and CEO Frank Fahrenkopf.

The AGA’s proposals come amidst casino industry expansion in the United States, with states such as Massachusetts, Illinois and Ohio as the most recent to move towards brick-and-mortar operations.

Below are the 10 specific recommendations in the AGA’s white paper:

• License terms should extend for at least five years.
• Extend the use of uniform license applications.
• Allow waiver from licensing or registration requirements for those institutional investors holding less than a 25 percent ownership of a licensee.
• Extend the use of “Shelf Approvals” for debt transactions and public offerings.
• Require no more than registration of outside directors.
• Eliminate unnecessary regulatory filings.
• Update licensing procedures and practices.
• Eliminate Prescribed Minimum Internal Control Standards (MICS).
• Eliminate Prior Notice or Pre-Approval of the Shipment of Electronic Gaming Machines.
• Reduce the Number of Pre-Approvals for Electronic Gaming Machines.

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