Gaming Control Board working to improve regulatory environment in Nevada
Nevada Governor Joe Lombardo issued directive for each division to review existing regulations
Nevada is the longest standing and most mature gambling market in the US, but that prominence has led to some of its vast library of gaming regulations becoming outdated, an issue that Governor Joe Lombardo has sought to address in 2023.
Toward that end, Lombardo issued a directive to the Gaming Control Board in January to review the full array of existing regulations.
Each of the Board’s six divisions – Administrative, Audit, Tax & License, Enforcement, Investigations, and Technology – were given the remit to vet all of the regulations and target those that could be improved for the benefit of gaming licensees and the state.
As part of the process, the board held a workshop on April 12 to discuss its progress.
“What we have in front of us is Governor Lombardo’s executive order, which I’m quite proud to be involved with,” chairman Kirk Hendrick said to begin the workshop.
“Along with many people in the room and those watching on television, I was involved in drafting these statutes and regulations over the years.
“It’s always time to go through them and see if we can make them a little better, a little less burdensome, and of course more workable for the industry, while still maintaining effective regulation that this state desires and deserves.”
Included among the regulations the Board went on to recommend for improving were audited financial statements, accounting for transactions, internal controls for Group 1 licensees, and taxes.
However, according to Board member George Assad, technology regulations are most in need of change. That’s a sentiment shared by Lombardo, who requested that the Board look into ways technology may be able to help speed up licensing processes.
“I think that’s where we should focus more of our attention,” said Assad. “Next in importance would be the enforcement and audit divisions.”
Nevada has nearly three dozen gaming regulations, many of which have been on the books for decades and have predictably become outdated.
Lombardo’s directive calls for the agencies to make their formal recommendations to the Nevada Gaming Commission by May 1.