The Nevada legislature authorized intrastate online gambling in 2011 and the Nevada Gaming Commission subsequently adopted regulations to govern such operations. Companies involved in interactive gaming in Nevada remain subject to the state’s existing Gaming Control Act and Gaming Commission regulations, in addition to the new interactive gaming rules.
The authorization for interactive gaming created two new types of gaming licenses in Nevada, the Manufacturer of Interactive Gaming Systems License and the Interactive Gaming Service Provider License. The Manufacturer license is for companies that manufacture systems or components for interactive gaming, such as gaming software, hardware, and proprietary technology.
The Service Provider online casino license is for companies seeking to provide services in connection with interactive gaming, like platform hosting, payment processing, or other operational functions.
To obtain a Manufacturer license, applicants must pay a $500 application fee and complete Form 2IG, which requires providing detailed information about the business structure, ownership, financing, management, and other key details. Applicants must also submit articles of incorporation, a comprehensive business plan, and a complete list of stockholders or members.
The Interactive Gaming Service Provider license has an application fee of $500 and an annual licensing fee of $1,000. The casino license is valid for one year and must renew annually. Applicants must also complete Form 2IG and provide similar information as required for the Manufacturer license, as well as additional requirements related to profit and loss statements and a detailed description of the proposed business activities.
Additional Requirements for Profit/Loss Statements and Business Description for Online Casino License
Regardless of license type, principal employees such as officers, directors, members. And equity holders must also be suitable by the gaming regulators and complete personal disclosure forms. Subject to a $500 application fee per individual. This suitability review ensures key personnel meet the state’s standards for character, integrity, and financial responsibility.
Nevada’s regulations also stipulate that the core components of an interactive gaming system. Including servers and databases running the games, must be located within the state, except as otherwise permitted by the gaming regulators. This requirement ensures the state maintains direct control and oversight of interactive gaming operations.
The Gaming Standards Association (GSA) also provides valuable guidance and model standards for the interactive gaming industry. The GSA is at the forefront of identifying unique technology and operational issues faced by suppliers and regulators in the evolving online gambling market.
Nevada has established a comprehensive regulatory framework for companies seeking to participate in the state’s online gambling market. With stringent licensing requirements for both manufacturers of interactive gaming systems and providers of interactive gaming services. This regulatory structure is to ensure the integrity and security of interactive gaming operations within Nevada’s borders.
To Complete Form 2IG, the Following Information Must Be Provided
- Basic identification information
- Specific type of casino license sought
- Description of the nature of the business
- Business structure
- Name and title of all partners, members, directors, officers, and shareholders
- Terms, position, rights, options, and privileges of each class of securities outstanding
- Terms by which securities have been offered during the past three years
- Terms and conditions of all outstanding loans, mortgages, trust deeds, pledges. Or any other indebtedness or security device
- Security ownership by officers, directors, employees, partners. And others associated with the applicant
- List of individuals who will receive compensation based on gaming proceeds;
- Bonus and profit sharing arrangements
- List of management and service contracts.
- In addition, the following documents must be provided with Form 2IG:
- Articles of Incorporation, Articles of Organization, Partnership Agreement, or other governing documents;
- Business Plan; and
- Complete list of Stockholders.
These are the qualifications for online casino license for casino operator in Nevada, the information provided in this article is referenced from the Nevada Online Gaming Supplier Regulatory Overview. For more details, you can read the full document at that URL.
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