Canada
NGCB: Procedures for Reopening after Temporary Closure Due to COVID-19
On April 21, 2020, the Nevada Gaming Control Board (“Board”) issued a Policy Memorandum related to Procedures for Reopening after Temporary Closure Due to COVID-19. The Board is providing the following additional information to licensees regarding reopening procedures.
1. Internal Audit Procedures: On May 29, 2020, the Board issued Addendum 1 to the April 21, 2020 Policy Memorandum. This addendum granted a waiver to allow certain internal audit procedures, required pursuant to Regulation 6.090(15), for calendar year 2020 to only be performed if a licensee operates an applicable gaming or entertainment area for three consecutive full months or more during 2020. The Board is extending this waiver to allow licensees with calendar business years to reduce the required procedures for table games and slots from a semi-annual requirement to an annual requirement for calendar year 2020. This reduction would include completion of the MICS Compliance – General Walk-through – All Procedures Checklist for both table games and slots.
2. Branch Office Visits: The Internal Audit Compliance Checklist – Branch Offices Walk-Through Procedures requires that “branch offices and/or independent agents that either took possession of more than $500,000 (cash or non-cash) in deposits or collected, in total, more than $500,000 (cash or non-cash) on credit instruments during the previous fiscal year, or more than $500,000 in the fiscal year to date are visited and compliance reviewed at least every other year. Branch offices not meeting the aforementioned $500,000 criteria are visited and compliance reviewed at least once every five years.” Any branch office and/or independent agents that are scheduled to be visited in 2020, based on the preceding criteria, may either be 1) “visited” through video conferencing and online document inspection, or 2) deferred until 2021.
3. In-House Progressive Payoffs: For progressive payoff schedules that were removed from the floor due to the Governor’s Declaration of Emergency – Directive 002 dated March 18, 2020, the time period to either put a progressive payoff schedule back on the casino floor or to distribute the entire incremental amount, pursuant to Regulation 5.110(5), is being extended to October 1, 2020.
4. Extended Business Closures: Pursuant to NGC Regulation 9.010(2), a licensee that ceases gaming “for a period exceeding 1 month” must either surrender their gaming license or obtain authorization from the Board to remain closed for “longer periods.” However, under current gaming regulations, any such authorization “will not permit closing for an entire calendar quarter.”
Generally, the Board will interpret Regulation 9 to contemplate closures that are within the control of the gaming licensee. Accordingly, the Board will not include periods of mandatory closure when determining the applicability of NGC Regulation 9.010(2). Therefore, the Board will calculate the “period exceeding 1 month” to commence June 4, 2020, the date that gaming licensees were permitted to reopen. Thus, a licensee that has not resumed gaming on or before July 6, 2020 must either surrender their license or request authorization from the Board to remain closed for a longer period. To request an extended closure, a licensee must submit the request to [email protected] by July 6, 2020. Any questions concerning this matter should be directed to the Board’s Tax and License Division at (775) 684-7770.
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Alex Cuoci
Wealthsimple and Kalshi Partner to Bring Prediction Markets to Canada
Wealthsimple announced the release of Wealthsimple Predict, providing retail investors the ability to trade event contracts on Kalshi. The standalone application is scheduled to launch this summer. Through the app, users will have access to approximately 4000 Kalshi event-based contracts in categories Wealthsimple is authorized to offer in the Canadian market, specifically climate, financial markets, and economic indicators.
“Prediction markets are the fastest-growing segment of global financial markets, letting traders turn an opinion into a position on the factors that shape our world – where inflation is headed, what happens to rates, or how the year unfolds. Until now, Canadians have had limited access. Wealthsimple Predict gives Canadians a clean, well-designed way to access these markets, with education and guardrails built in from day one,” said Brett Huneycutt, co-founder and Chief Product Officer, Wealthsimple.
“Kalshi was founded on a simple belief: views on the future should have markets, and those markets should be available to everyone. That’s why we’re partnering with Wealthsimple, Canada’s leading financial innovator – to give everyday investors in Canada access to fair, secure, and regulated prediction markets,” said Alex Cuoci, Kalshi.
In March, the Canadian Investment Regulatory Organization (CIRO) authorized Wealthsimple to offer event and forecast contract trading, also known as prediction markets. These contracts are regulated as futures contracts (derivatives). The approval covers contracts with a 30-day settlement period or longer, within the categories of economic indicators, financial markets, and climate. Wealthsimple is the second investment dealer to receive regulatory approval from CIRO for prediction markets.
To access trading through Wealthsimple Predict, new clients must complete a standard Know Your Client (KYC) process. Education is built into every stage of the experience, including a guided orientation of a client’s first trade. The app also shows users key disclosures and definitions, including trading risk reminders, contract resolution information, notices that positions can be sold at any time, and liquidity risk warnings on lower-activity markets. Wealthsimple Predict will only be available to Canadian residents.
Kalshi is authorized to operate in the US as an event contracts exchange, with federal authority from the Commodity Futures Trading Commission (CFTC), the regulatory authority for the U.S. derivatives market. Prediction markets follow the same regulatory framework applied to other financial assets traded in the US, such as equities, bonds, and traditional derivatives, with clear rules for price formation, settlement, and governance.
The post Wealthsimple and Kalshi Partner to Bring Prediction Markets to Canada appeared first on Americas iGaming & Sports Betting News.
Alberta
MediaTroopers lines up eight operator partners ahead of Alberta launch
MediaTroopers said it is preparing to launch in Alberta’s regulated gaming market on July 13, as Canada’s next regulated commercial gaming market opens.
The digital marketing and customer acquisition firm said it plans to enter Alberta alongside eight “premium operator” clients, which it said are also preparing for their own market entries. MediaTroopers did not name the operators.
The company said its Alberta offering will mirror its work in Ontario, including localized acquisition strategies, compliance-focused marketing, regional player education, and market-tailored performance campaigns.
MediaTroopers also said it has seen “strong interest” from Alberta players through pre-registration activity, without providing figures.
“Alberta represents an exciting next step for regulated iGaming in Canada, and Media Troopers is ready to support operators from day one,” said Shmulik Segal, CEO of Media Troopers. “Our experience in Ontario has given us a strong understanding of what it takes to enter a new Canadian market successfully, from compliance and localization to scalable player acquisition. With eight of our premium clients already preparing for launch and early pre-registration traction underway, we see Alberta as a market with tremendous potential.”
The post MediaTroopers lines up eight operator partners ahead of Alberta launch appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
Canada
MediaTroopers Makes Preparations for Upcoming Alberta Launch with Eight Premium Operator Partners
MediaTroopers, the leading digital marketing and customer acquisition firm, has announced that preparations are underway for its upcoming launch in Alberta’s regulated gaming market, scheduled to go live on July 13. As part of those preparations, MediaTroopers will enter the province with eight of its premium operator clients, who are already preparing for their own entries.
With the launch of Canada’s second regulated commercial gaming market, Alberta has quickly become one of the most anticipated market opportunities for operators looking to expand. MediaTroopers has already cemented itself as a reliable partner in Ontario’s regulated market, supporting operators in one of North America’s most competitive markets, and it will bring that same expertise as it enters Alberta.
Much like Ontario, MediaTroopers will continue to support operators in Alberta with localized acquisition strategies, compliance-focused marketing, regional player education, and market-tailored performance-driven campaigns.
MediaTroopers has already seen strong interest from Alberta players through pre-registration activity. With eight of its premium clients also preparing to go live, the company expects to play a pivotal role in helping other licensed operators to build up brand visibility and recognition among players in the region from day one.
With its launch in Alberta, MediaTroopers remains committed to supporting sustainable, responsible, and compliant growth across Canada’s regulated market.
“Alberta represents an exciting next step for regulated iGaming in Canada, and Media Troopers is ready to support operators from day one,” said Shmulik Segal, CEO of Media Troopers. “Our experience in Ontario has given us a strong understanding of what it takes to enter a new Canadian market successfully, from compliance and localization to scalable player acquisition. With eight of our premium clients already preparing for launch and early pre-registration traction underway, we see Alberta as a market with tremendous potential.”
The post MediaTroopers Makes Preparations for Upcoming Alberta Launch with Eight Premium Operator Partners appeared first on Americas iGaming & Sports Betting News.
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