KPMG held the industry-leading 7th annual eSummit in Gibraltar on March 23, 2017, aboard the phenomenal 5 star Sunborn Gibraltar Yacht Hotel. The event was attended by hundreds of delegates and featured over 40 keynote speakers and panelists from diverse regions of the eGaming and eBusiness worlds. Once again, primary sponsor and participant Continent 8 Technologies has compiled a comprehensive overview of the event with in-depth coverage of key issues facing the industry. The report, comprising nearly 30,000 words is available for download in its entirety in .PDF format here.
A brief outline of some of the aspects covered includes Brexit, new technologies, emerging markets, M&A developments, risk and regulatory predictions, diversity, and harm minimization in the industry.
Jon Tricker, Managing Director of KPMG in Gibraltar commented, “Our Gibraltar summit marks a pivotal date in the eGaming global calendar. Every year, we attract over 30 speakers of the highest caliber. The event continues to evolve; the scope of our agenda this year allowed attendees to flow from main room presentations, through to workshops and masterclasses on topics such as consumer protection and regulation. The online report makes compelling reading for those who attended, as well as for those who couldn’t make it, but have an interest in this dynamic industry.”
Micky Swindale, Head of Advisory for KPMG in the Isle of Man and Gibraltar had this to say, “I’m continually amazed by the creative and dynamic nature of the eGaming industry. Even in the current climate, it is a sector that continues to flourish and flex with the times. In Gibraltar this year, there was real optimism among operators and a resolve to keep strong the private/public sector bond. Our summits provide an ideal forum for those working in the industry to come together to network and be informed on the latest sector developments.”
The Hon. Albert Isola of the Gibraltar government delivered the opening address reflecting on last year’s eSummit that convened just before the UK’s EU referendum, known as Brexit. He relayed an anecdote delivered at that time comparing the British government exiting Brussels to a man coming home from work and telling his wife he was leaving but asking her to continue doing his laundry anyway. After a serious discussion, he closed his remarks by stating that the industry enjoys “unequivocal” support from the Gibraltar government.
Clive Hawkswood of the Remote Gambling Association (RGA) presented insights on crime & money-laundering; regulatory and social responsibility issues; perceptions; taxation (including the UK horse race betting levy); Europe; and the state of the industry. he mentioned that many of the smaller European markets will soon come under more scrutiny with the advent of the 5th Anti-Money Laundering Directive. He stated that the RGA has been proactive in this respect having already launched the Gambling Anti-Money Laundering
Jon Tricker, the managing director of KPMG in Gibraltar led a discussion with esteemed panelists from the legal field and government discussing the impending Brexit trigger and other issues facing the gaming sector there. Keith Bristow, Chairman of the Gambling Anti-Money Laundering Group (GAMLG) provided an update on how the group intends to combat money laundering in the sector.
A discussion on M&A Activity in the Gambling & Betting Sector was led by Russell Kelly Group MD for KPMG in the Isle of Man and Gibraltar. David Briggs of GeoComply detailed how location fraud is an enabler to cyber-crime and offered solutions to the problem.
Harm Management and Effective Risk Management in Gambling were the topics of two other breakout discussions.
One of the most enlightening and interesting presentations was delivered by John Kamara of Global Gaming Africa. He highlighted how some companies are taking informed risks in the emerging market to profit where others may abandon opportunities due to bad data or less than optimal decision making. He spoke of the South African brand, MTN (formerly M-Cell) entering Nigeria some 10 years ago at about the same time giant Vodaphone entered the market there. When the larger corporation looked at Ghana they determined the country’s GDP was so small they would probably be lucky to win a million customers over the next decade, so they abandoned their plans there. MTN went into Ghana ready to take the risk and a dozen years later they now have 42 million customers and rake in over $10 billion per year in profits, year after year.
The eSummit concluded with Phill Brear, the outgoing Head of Gambling Regulation for the Government of Gibraltar leading a panel of experts with over 60 years combined experience in the industry, offering, “differing and valid perspectives on the evolution of eGaming”.
The full 50-page report can be downloaded via the following link:
The next KPMG eSummit will be held in the Isle of Man on 7th September. Attendance at the eGaming Summit is by invitation and anyone who wishes to express an interest in joining the Isle of Man event in September should contact Abby Kimber on +44-1624-681000 or firstname.lastname@example.org or visit https://events.bizzabo.com/KPMGeSummit2017.