hat products and services is BMM intention to present and focus on G2E Las Vegas? What will G2E guides find on the company’s stand this year?
This year, BMM celebrates 40 years of service to the gaming industry which started with the lottery and pari-mutuel systems in 1981. And Over these 40 years, the company has accumulated a wealth of knowledge and experience on all possible gaming products, both land and digital, for all possible markets across the world.
Today we operate 15 sites around the world which we believe perfectly meets the needs of the market for testing and compliance and we serve over 470 gaming jurisdictions. We have done properly establish service consistency and test quality across our operational footprint, and service customers 24 hours a day, 365 days a year.
At G2E this year, BMM will once again showcase the knowledge and experience of our great team that makes BMM the best choice to bring your product, any product, to any gaming market in the world. .. For suppliers, entering new emerging markets can be difficult. From understanding regulatory requirements to approving your gaming products, BMM is the best partner for success.
Will the company participate in educational activities within the exhibition? What key topics will you cover?
Over the past 19 months, the industry has faced unprecedented challenges, but there have also been some surprises during this time.. The rapid growth of online markets in Europe, North America, and Latin America, along with the efforts to implement technology to create a safer casino environment during this time, came as a welcome surprise. Not only are land and digital products evolving, there are eSports, Daily Fantasy Sports and skill-based gaming products, as well as emerging AI and crypto technologies.
For the regulator and the industry, this means new technology to understand and include new regulations to be drafted and old regulations to be updated, and potentially new definitions of the game within them – a regulatory challenge for sure.. Fortunately, companies like BMM are supporting regulators and helping them think through these issues, based on global best practices.
BMM’s vision is to protect both the public and the gaming industry. Everything we do is aimed at supporting these two stakeholders. The best way to do this is to continue to be the best gaming lab in the world. This is our reference.
What are the company’s goals and expectations for G2E? What does this return to in-person events mean for the company, especially in Las Vegas and such a prestigious event?
The pandemic has forced global industries and global companies such as BMM to change the way we interact internally and externally with our regulatory partners, suppliers and operators.. BMM reacted very early to this change during the pandemic by offering a number of online webinars such as our One 2 One series covering topics that provided insight into how gaming industry stakeholders have adapted to the challenges of the pandemic by reimagining their products, solutions and operations. Given the inability to host in-person events like G2E, these webinars have provided manufacturers with a platform to update the industry on their key products and share their perspectives on emerging technology solutions.
While BMM has worked diligently to provide a new and unique way to connect and engage with industry partners across the globe, the inability to meet in person has made it difficult to maintain or develop those personal relationships which are the key to the industry’s success. At G2E, we look forward to seeing many partners in person sharing our deep understanding of technical compliance and regulatory requirements as well as our support for our clients to access all regulated markets around the world, which makes BMM the best choice of laboratory.
BMM expanded its working skills, gaining approval in Ontario last month. Could you share any other information on new and emerging iGaming markets and your work as a lab?
The rapid growth of digital markets as terrestrial operators have been closed or restricted has come as a welcome surprise. In many cases, as in the United States, the rate at which state legislatures have enacted enabling legislation has accelerated dramatically after many years of unsuccessful attempts to expand gaming possibilities in the digital space.
The most difficult aspect of this emergence has been the expectations as to when the activation language was set up to actually go live for the public.. This has placed a significant burden on existing or newly formed regulatory agencies to put in place regulatory frameworks to ensure the integrity and accountability of these operations.
There is so much going on in this segment for regulators. Not only are digital products evolving, but new challenges are emerging in the gaming industry. such AI, Block Chain and Crypto technologies that can play a role in the digital space. For the regulator and the industry, this means new technology to understand and include new regulations to be drafted and old regulations to be updated, and potentially new definitions of the game within them – a regulatory challenge for sure. Fortunately, companies like BMM are supporting regulators and helping them think through these issues, based on global best practices.
We are seeing tremendous demand in Europe and the United States for certified digital products in online casinos, online poker and sports betting. While there appears to be an underlying growth rate of around 10-12% in this segment, with COVID-19 shutting down or restricting so many ground operations, it appears that rate has doubled. Fortunately, most operators see that having an online business doesn’t cannibalize their land-based business., so it’s all in there.
Given our experience and capabilities, we are finding more and more clients moving from their current lab to BMM in Europe and the United States., or at least distribute the work in a balanced way, allowing better overall performance of tests and better risk management. BMM Europe’s digital business has grown by 1000% over the past 5 years, coming from a good base. BMM North America Digital Business Grows 300% Over Last 12 Months, Thanks to Strong Foundation.
What role does the Latam market play in BMM’s operations? What are the main regulatory challenges in the region? As some previously underdeveloped markets begin to see their gaming operations expand, what are the main emerging issues to address from a regulatory perspective?
The Latin American market, just like the United States market, has been very limited with its involvement in the online or digital gaming industry. BMM believes that Latin America is now a very important market for suppliers and operators looking to take advantage of growth opportunities as part of their overall strategic plans.. With regulatory frameworks in place for digital gaming in countries such as Colombia, Chile, Panama and parts of Argentina, we have seen many suppliers and operators based in Europe looking to enter or enter. in these markets.
The Latin America market is a key operation within BMM’s global footprint and is managed by an excellent management group led by Marzia Turrini who has been able to effect gradual and incremental changes that have resulted in significant growth in the Latin American market for BMM. With this executive group also responsible for overseeing our European operations, he ensured a smooth transition for suppliers based in Europe to expand their global footprint in Latin American digital markets as they developed. establishment.
Suppliers must be ahead of the market access curve, particularly in Latin America and the United States to take advantage of the growth and emergence of larger and new markets for the digital space.. If you are not already engaged in a lab that can take you to these markets now, like BMM, your competition will have a significant advantage.
As land-based casinos start to revive their businesses around the world, how is the pandemic affecting the regulatory landscape? What new compliance services does the gaming industry need under these circumstances?
The global pandemic has not only caused land-based casinos to close due to concerns over the spread of the coronavirus (COVID-19), but it has also forced millions of employees to switch to remote work to adapt to guidelines. government on social distancing. Like any other industry, this has had a huge impact on the gaming industry and is likely to result in a new model of remote employee for game providers, operators and regulators. This new model will continue to question how regulators engage with suppliers and operators and has already witnessed the rise of threats that will question regulatory accountability and response. In the midst of this global phenomenon, we have seen an extreme increase in cybercrime activity.
The FBI has reported an exponential increase in cybercrime activity in 2020 and it is expected to increase even more in 2021. The gaming industry has seen firsthand the impact of this criminal activity with a number of land-based casinos set to close. following reopening due to cyber attacks. Security breaches, such as the loss of personal and financial data, can damage the reputation and finances of casino operators and regulators. Regulators need to constantly reassess and evolve their regulations and minimum internal controls for operators to minimize gaps within security infrastructures, especially given the new remote workforce environment.
In this area, BMM was asked how best to regulate or improve the security of operations data to ensure that appropriate mitigation best practices are in place. We went through the market and its service providers and found that many of them offered the same services and ultimately competed for price, not quality – most saying the same thing. We have developed a different value proposition, specializing in specific areas of cyber defense and partnering with key vendors. These partnerships along with BMM’s regulatory and gaming technology expertise stand ready to help regulators. in how best to deal with this threat as well as providing support and compliance services in this area, which are unprecedented compared to services unaware of the unique regulatory frameworks and technology of the gaming industry.