Regulation and Brexit key discussion points at KPMG Gibraltar summit

KPMG Gibraltar eSummit
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The KPMG Gibraltar eSummit 2019 set its sights firmly on the future, with the 9 May event focusing on the opportunities ahead for the territory’s eGaming and technology sectors in light of unpredictable sector development.

 

With significant regulatory and political changes already underway on the peninsula, delegates took advantage of speeches from notaries including Minister for Financial Services and Gaming, Albert Isola, as well as interim RGA CEO Wes Himes.

“The eGaming sector in Gibraltar stands on the verge of a new era, and the pace of regulatory and technological change remains fast moving,” said Will Hawkley, KPMG global head of leisure and hospitality.

“While some parts of the future will depend on circumstances outside the jurisdiction’s control, such as Brexit, there is much to be done by Gibraltar-based operators to identify opportunities and create resilient businesses that have strong and clear benefits to their customers.”

Following Isola’s welcome and an address by Wimes detailing the Remote Gambling Associations’ recent merger with the Association of British Bookmakers, KPMG director Adam Rivers led a panel debate on “Responsible Gambling the Gibraltar Way.”

The Senet Group, YGAM and the University of Gibraltar also discussed the British Overseas territory’s approach to maximising social responsibility.

Vaughan Lewis, group director of Investor Relations and Corporate Communications at Sky Betting and Gaming, also updated delegates on developing opportunities in the US opportunity, before Goldman Sachs executive Stephen Little analysed the state of European markets.

Though the unpredictabilities of Brexit proved a charged point of discussion, with a specific seminar led by KPMG Brexit specialist Mark Essex, regulation also took centre stage.

Following rapid steps forward in the peninsula’s regulatory framework, Gibraltar’s chief gaming regulator, Andrew Lyman, discussed future licensing and legislation with Peter Isola, Senior Partner at Isola, and Peter Montegriffo QC, Partner at Hassans.

Delegates were also keen to discuss the recently announced memorandum of understanding between the Gibraltar gaming Division and Sweden’s newly reformed regulatory body Spelinspektionen, intended to increase cooperation on public policy.

With Lyman hailing the agreement as a further step toward ensuring “consumer protection, a fair market, promoting social responsibility and reducing crime associated with gambling,” the announcement cemented the importance of open cooperation for the good of both the industry and its customers.

Finally, the afternoon was rounded off by an Operators’ Panel moderated by MD of KPMG Gibraltar, Jon Tricker, leading panel of C-suite operators to consider the evolution of eGaming in Gibraltar.


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