GMB - How do you experience this moment, just a few days after the start of GLI Latin American and Caribbean Regulator’s Roundtable?
Karen Marcela Sierra-Hughes - We’re extremely excited and counting the days for the roundtable. We are ready to listen, engage, and just take it all in. The Roundtable is a very exciting and dynamic yearly event that is highly anticipated by our team of Latin American and Caribbean experts, industry stakeholders throughout the region and Spain. We do these events for the government entities we serve. The Roundtable is the only complimentary educational and networking event exclusively for gaming and lottery regulators and government lotteries representatives, where they have the opportunity to hear first-hand what is impacting them the most in their countries.
We do this because of our strong commitment to gaming and lotteries in the region. Our goal is to provide and empower our attendees with the information they need to make responsible and informed decisions in their respective jurisdictions that will lead to greater prosperity and success. This, in turn, has a positive impact throughout the region; benefitting not only regulators but the entire spectrum of gaming and lottery suppliers and operators.
We spend close to a year preparing for the Roundtable. And every year we challenge ourselves to make the Roundtable better than the previous year by soliciting input from attendees on the key topics and issues affecting the gaming and lottery industries throughout Latin America, the Caribbean, and Spain. We ask them what they want to talk about and learn about and then customize the Roundtable’s agenda to reflect those desires. We also work very closely with the host regulator to ensure success. This year, we are grateful for the support of Mr. Manuel Antonio San Román Benavente, General Director of the DGJCMT, the regulatory entity in Peru.
Past attendees of the Roundtable continue to tell us that the event encourages collaboration, dialogue, and the development of close professional and personal relationships between regulators. This is an opportunity to authentically and candidly share successes, solutions, and challenges with one another in a friendly, secure, and welcoming environment that is conducive to the unique needs of gaming and lottery regulators and government lotteries.
We have also discovered that language is not a barrier to conversation and interaction. Whether it is Spanish, English, or Portuguese, we ensure that attendees are provided with the information they need to maximize the benefit of their Roundtable experience.
We look forward to providing attendees with a world-class educational experience that is second-to-none. We have assembled an outstanding panel of 28 highly respected speakers and thought-leaders who represent some of the best and brightest minds in our industry and in the Latin American/Caribbean/Spain gaming and lottery sectors. Our GLI experts will also be on hand to provide a global perspective with a local focus; drawing from GLI’s nearly 30 years of worldwide land-based gaming and lottery, iGaming, and sports wagering expertise in different markets from Asia and the Americas to Europe and Africa.
We hope to give attendees a solid foundation of understanding regarding best practices from across the region and around the world. We strive to balance learning and networking to encourage a sense of common interest in shared goals of prosperity made possible by the regulated growth of the gaming and lottery industries in the sector’s respective countries.
We note that the market is waiting for this event as never before, do you think you will reach an unprecedented presence of representatives of the industry in Lima?
First of all, thank you, as your question at the same time highlights the consideration that the region has for our annual roundtable. We expect a high turnout and have experienced significant momentum with our registration as the dates get closer. With more than 60 registrations and counting from 18 countries as of this writing, we anticipate that this year’s Regulators Roundtable will continue its success in its 11th year edition. Every individual attending will bring a different perspective, and that diversity is what enriches the content that is sought after. We already feel the excitement mounting in preparation for the collaborative discussions getting ready to take place and the energy around so many new opportunities in gaming and lottery.
Each year the reputation of the Roundtable has grown, with more and more government entities wanting to take advantage of the Roundtable’s complimentary learning and networking experience, making it the “must-attend” event of the region. They are motivated to attend by such relevant topics as iGaming, iLottery, sports betting, licensing, new game development, legislative updates, money laundering prevention, testing and certification, and responsible gaming.
The Lottery occupies a significant portion of the roundtable and recently in Brazil the process of privatization of Lotex suffered a serious setback, what reasons do you think led the companies not to bid? What suggestions would you have as a regulator to improve the conditions and refloat it?
The Roundtable is attended not only by gaming regulators but also by government lotteries, and that is why it is important to balance the agenda to address what is of interest for both industries.
We believe that the Lotex bid process is one of the most transparent ones we have seen in the region, taking in consideration the many roadshows that took place to explain in detail the requirements, conditions of the market and business potential. Also, there were several opportunities that were given to the stakeholders to provide input on the project that were not only heard but that also resulted in improvements to the bid conditions.
There are many factors that affect a bid process like this and we think that the steps taken by the government to get the feedback from the industry is the right approach as an initial phase to analyze and determine the path for the continuation of the process.
Online gambling and sports betting seem to be the main centers of growth in the region. What can the Latin American markets benefit most from this meeting?
Attendees will benefit from learning how online operations (iGaming and iLottery) and sports betting is shifting the face of the industry. This topic will occupy a significant portion of the discussion during this year’s Roundtable. We have dedicated two entire sessions devoted specifically to the topics of online gaming and sports betting which will cover the regulatory framework and supervision, the preference of a new generation of players, and a risk-assessment approach for the incorporation of new games and products, including mobile player identification, player protection, and security. The reality is that these operations are already in our jurisdictions and the decision is really of when the regulation will take place for the benefit of all the stakeholders that are already involved in this industry. The roundtable provides with the information government entities need to take informed decisions and advance whenever the circumstances allow them, on this important regulatory and operational endeavor.
What presence of Brazilian representatives do you expect and what sectors of the industry do you prefer?
Brazil has been traditionally attending the roundtable with a variety of representatives. We look forward to welcoming them again to this year’s Roundtable. The Roundtable audience is open to any government representatives that are stakeholders on the topics discussed and there is really no limitation regarding the institutions they represent.
Blockchain, cryptocurrencies, fantasy sports, and loot boxes are part of the Roundtable's extensive agenda. Do you consider these issues should be part of the present of the region or are there more for the future? Is it likely to be used in the short term or are we still far away?
The rapid development and deployment of these new technologies throughout the region, as well as the world, underscores the importance of developing new regulatory and operational frameworks to prepare for the eventual incorporation of these technologies into the fabric of gaming and lotteries throughout Latin America and the Caribbean.
The debate about these game-changing technologies continues throughout the industry. That is why we are dedicating an “Ask the Experts” panel session during the Roundtable to specifically discuss how blockchain, cryptocurrencies, virtual reality, fantasy sports, and loot boxes are related to the gaming and lottery industry. This will be an ideal opportunity for attendees to interact with our panel of experts in a lively exchange of ideas and opinions on this important topic.
This builds up on the objective of the roundtable, not to only talk about the current issues affecting the industry but getting prepare to address what is coming to their jurisdictions in the short, medium and long term.
In short, what strengths and weaknesses does GLI find in today's Latin American industry?
The sector’s gaming and lottery industries are growing and changing at a rapid rate. This process of evolution and maturation in the market is accelerated by the speed of technological development. As a result, regulators and government lotteries are being challenged to protect the public from the potential for illegal gaming operations, money laundering schemes, and the ever-present danger of cybersecurity threats. They must, therefore, collectively navigate these difficult waters and plot a course that allows for the development of new technologies and legitimate business opportunities while acting in the best interests of the public, with the goal of building an industry that is transparent and fair.
We believe that the majority of regulators understand all this and are working towards the establishment of a regulatory framework that will help the industry to be successful. We also believe that regulators are humble on the sense that they are looking to understand the experience of other jurisdictions to learn from the positive and negative experiences.
Attending such events as our Roundtable provides a thinktank environment where experts and those new to the industry can foster dialog and share insights and ideas that will help propel the market toward success. This is their event and the conversation and context around the event is to support their growth. We see our role as more of a facilitator of this critical dialogue and a resource for the development of effective regulations.
Another strength we see is that this market possesses a deep reservoir of dedicated regulators, suppliers, and operators who are open to exploring new and innovative ways to address the opportunities and problems that arise.
It is important that industry stakeholders develop the knowledge and professional skills that will equip them to successfully overcome the unique challenges they face in this dynamically changing market.
Personally, what is the dissertation you most expect to hear from the event? Which awakens you more curiosity?
From my perspective, given the rapid expansion of sports wagering and iGaming, I anticipate that these will be topics of considerable interest that will generate much conversation and dialogue. I am also looking forward to the conversations that will be generated at the Ask the Experts panel. Some of the topics that will be discussed are not fully introduced in regulated jurisdictions yet.
Personally, what I’m excited more about is to see how regulators implement their individual takeaways and ideas that are generated after the conference. It will be exciting to see how regulators and government lotteries will use the information and relations created, to benefit their jurisdictions controls and responsible growth of their industries. The long-term and immediate recommendations and solutions which will be discussed to reduce and eliminate the risk of the unethical activities impacting their markets and discussing how these collaborative peer-to-peer events help to bring about change to make things better.
Source: Exclusive GMB
