LeoVegas Group Director of Policy & Public Affairs, Carl Brincat, spoke at SBC Summit in Lisbon, highlighting the importance of dialogue between regulators and operators. We had a conversation with Carl after the panel to discuss the key takeaways!
Why is ongoing dialogue between operators and regulators essential for ensuring compliance with regulatory requirements?
“Ongoing dialogue between operators and regulators provides a forum for regulators to clarify their intentions and for operators to proactively present their proposed approaches, ensuring they align with regulatory expectations. We aim to remain compliant, and open dialogue and transparency are essential to achieving that goal. Regulatory requirements are often subject to some degree of interpretation. This can be beneficial from an operational perspective, as legal obligations must be implemented across processes, products, and technology, which vary between operators. Allowing operators the discretion to meet requirements in the way they deem most effective helps minimize friction for consumers while still achieving the law’s objectives. However, this also means that in certain instances, greater clarity is needed from regulators regarding how laws should be interpreted.”
How do regulators and operators both benefit from this dialogue?
“For operators, the biggest benefit is ensuring that the intended approach to comply with regulatory requirements aligns with what the regulators expect. Regulators also benefit, firstly because they help ensure that operators are conducting themselves in accordance with the objectives set out by law. Secondly, dialogue provides an avenue for operators to communicate the challenges they face and, at times, propose solutions to achieve the regulator’s goals in a way that is easier for operators to implement and less intrusive for players. “
On that note, what role can operators play in shaping regulatory frameworks, and how does this contribute to a safer and more competitive market?
“Operators are in a position to provide more operational information to regulators and to propose what we believe to be the best means for achieving a regulator’s objectives. LeoVegas Group has extensive experience in newly-regulated markets and markets undergoing regulation, and we are happy to share our experiences and best practices with regulators and legislators. This dialogue is important because a major goal of regulation is channelization—ensuring that consumers can enjoy a safe gaming experience within a regulated environment. In this respect, balanced regulation that allows operators to offer an entertaining and competitive product, and where players can enjoy such a product without excessive friction, is essential. Without such balance, regulated operators like us find themselves at a significant competitive disadvantage compared to unregulated operators, potentially leading players to choose those environments instead, which are unsafe and lack the safeguards provided by regulated environments. This not only undermines the operators’ business but also the principles and objectives underlying the legislation and the regulator’s goals.”
