The Nevada Gaming Commission is actively pursuing a series of regulatory improvements and technological advancements to strengthen the gaming industry and increase its contribution to the state's general fund. The initiative was detailed during a presentation of the Judiciary Joint Interim Standing Committee, led by Chief Policy Advisor Sebastian Ross, with Chairman Kirk Hendrick. The 10-minute overview was the first discussion of gaming regulatory priorities ahead of the 2025 legislative session, which begins in February this year.
Innovative legislative developments ahead:
The control committee will present two legislative proposals aimed at improving and updating its regulatory framework in the future, but no details of the legislation were disclosed during the presentation. The session, which did not take questions from members, outlined the committee's regulatory adjustments and technological advances following previous legislative sessions.
The Control Board and the Nevada Gaming Commission have made significant regulatory and technical progress. Thirteen regulations were recently rescinded, eight were amended, three monitoring standards were updated, and six regulations received final approval at the committee's last monthly meeting. A major technological change is also underway, with a project to revamp the committee's operating system with funding expected to take several more months to complete in 2023, Ross reported.
Among the regulatory improvements initiated, the commission simplified the tax collection process for licensees in line with the Nevada State Tax Office's methods. It also improved the process of deleting old out-of-state sources and putting individuals on the exclusion list. New guidelines have also been introduced to expedite approval of gaming technology, enhancing the efficiency of the evaluation process.
Rapid assessment and field testing innovation:
The Commission launched the "Nevada One Day Evaluation" (NODE), which mandates technical departments to complete evaluations of slot machine modifications within a day of receiving applications. Another notable initiative, the "Ante Up Initiative," allows control board agents to perform a significant portion of the field testing procedures typically handled by license providers.
As reported by the Las Vegas Review-Journal, Ross stressed that these regulatory improvements are critical to sustaining the vitality of the Nevada gaming sector. Nevada recently had its most successful May in gaming, with a 2.5% year-over-year increase to $1.32 billion. As of June, Nevada collected $1.17 billion in gaming taxes, a 4.5% increase from its previous fiscal year. The figure not only topped pre-pandemic levels, but also beat forecasts by the Nevada Economic Forum.
The control board, which has 363 full-time employees in six departments, is preparing to report its June gaming order results and fiscal year totals next week, and will provide additional insights into its financial performance under the newly implemented regulatory framework.