Across the globe, gambling operators enter into arrangements with individuals who help them bring high rollers to their casino floors. Companies that offer such activities are known as junket operators across Asia. In the United States, people who help bring high rollers to casinos are known as independent agents. It’s not a surprise that licensed gambling operators in Las Vegas, the gambling capital of the world, engage with independent agents who help them boost their business.
Usually, independent agents have ties with rich individuals and have access to incentives for their customers. Unsurprisingly, independent agents usually earn commissions based on individual clients they refer to casinos. Some agents work with multiple casino operators, in an effort to ensure the best experiences for their big-spending customers.
Now, a new report reveals that the gambling watchdog in Nevada approved changes to the regulatory framework for registered independent agents in the state. As announced by the Las Vegas Review-Journal, the Nevada Gaming Commission (NGC) greenlighted changes to Regulation 25 for independent agents that help bring high-roller customers to the state’s casino operators.
Previously, gambling operators had to submit mandatory quarterly reports revealing financial data regarding the independent agents they collaborate with. This requirement was later changed to annual reporting, before the most recent change. Under the new rules, licensed gambling operators would have to hold records for the activities of independent agents rather than submitting reports.
Per the change, licensees would have to be able to present the recorded data for the independent agents they work with. They will be required to keep such a record for a period of five years and present it in case of an inspection by the state’s gambling regulator.
Reducing the Regulatory Burden for Gambling Operators
The approved change effectively seeks to reduce the paperwork gambling operators are required to go through every year. Still, licensees would be required to keep on file information such as when they entered into a contract with an independent agent, when that contract end and how much was the agent paid.
According to Diane Presson, a supervisor with the NGC, there are more than 300 independent agents that are collaborating with casinos across Nevada. She added that some of those agents have active business-to-business relationships with multiple resorts at the same time. Finally, Presson pointed out that while the Commission will retain monitoring of the activities of independent agents, it has decided to leave this “at the property level” rather than requiring the operators to report those activities annually.