The Nevada Gaming Commission (NGC) has awarded BetMGM’s co-owner, global iGaming giant Entain, unconditional approval to operate in the state.
iGB on Monday revealed that NGC issued Entain its Nevada license last week after the Isle of Man-based operator made a presentation to the regulatory body. This was Entain’s second hearing with the NGC after the Commission unanimously approved its license on May 1.
The NGC had previously given Entain, which shares ownership of BetMGM with MGM Resorts International, a two-year license and “a three-year license that expired this month.”
The gaming body issued Entain the temporary licenses over concerns about the London-listed operator’s business in unregulated markets. At the May hearing, Entain made a presentation in which it addressed its exit from such markets worldwide.
you can’t judge profit against doing the right thing”
Addressing the exit, Entain Chairman Barry Gibson said the withdrawal from 140 unregulated markets “came at a big price. We lost $100 million in profit by pulling out, but you can’t judge profit against doing the right thing.”
The NGC agreed that the losses were significant, but that Entain’s exit from the markets was impressive, hence the award of an unconditional license. Commissioner Brian Krolicki stated Entain delivered a “casebook study on how to put on governance and compliance and ethics issues.”
Entain attorney Erica Okerberg said her client had “taken great strides not only to move past some of the historical issues, but to accept responsibility for them and find ways to learn and grow.”