Kindly sponsored by © 2014-2015 KPMG LLC, an Isle of Man limited liability company and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative 1 (“KPMG International”), a Swiss entity. All rights reserved. Introduction Since becoming the world’s first Following a wake-up breakfast kindly Paul Leyland of Regulus Partners jurisdiction to introduce legislation provided by sponsors Manx Telecom, followed with an erudite and specific to eGaming in 2001, the Isle the Summit proper opened with a penetrating analysis of point of of Man has secured its place as a welcome address by Minister for the consumption licensing and the dot world leading jurisdiction which is Department of Economic com model before KPMG’s Head of home to the industry’s most Development, Laurence Skelly, MHK. VAT, Sandra Skuszka, delivered a celebrated licensed brands and most Minister Skelly provided a brief particularly pertinent presentation on comprehensive suite of ancillary overview of the success of the Island’s forthcoming changes to place of service providers. Today, the Isle of eGaming sector, which now accounts supply VAT rules for January 2015. Man stands for constancy in for 13% of the Island’s GDP, before Representatives of the International technological innovation and introducing the day’s first speaker Masters of Gaming Law returned to regulatory progress even as it faces Quirino Mancini of SCM Lawyers. provide the final presentation of the changes to its white list status, its Drawing upon a series of examples day in a spirited debate concerning the nearest onshore neighbour moving from his home jurisdiction Italy, Mr US regulatory scheme and emerging to a place of consumption Mancini tackled the perennial problem market issues. Together, moderator Bill framework, and a raft of complex of the controversial image of gaming in Gantz and distinguished panellists legislative and regulatory provisions the face of media and public opinion. Ernest C. Matthews IV, Hilary Stewart- throughout Europe and further Steve Brennan and the Department of Jones and Bill Mummery addressed afield. It has secured this reputation Economic Development’s CEO of the balance between engagement, through an unerring commitment to eGaming Development, Peter Greenhill regulation and investment within a series of core principles which then delivered a staple of the Summit emerging markets, with Ms Stewart- place public/private sector series, the local sector update, before Jones arriving at fitting conclusions cooperation, responsible innovation introducing Eric Benz and Ben that: “You’re better embracing the and consumer protection at its heart. Robinson of locally incorporated industry than alienating it because cryptocurrency payment services then you get access to the data. That’s On 10th and 11th November 2014, intermediary GoCoin. A captivating how progress is made.” KPMG sought, once again, to promote discussion on the potential marriage This report seeks to compound and these values and explore the future of between cryptocurrencies and build upon a day’s enlivening this industry with the fifth instalment eGaming from Messrs Benz and discussion on the imperative for all of its celebrated KPMG eGaming Robinson perfectly set the scene for stakeholders to work together and Summit Isle of Man series. This year, the first of the day’s panel sessions, share information at a critical phase in KPMG was very pleased to launch the during which KPMG’s Head of the industry’s maturation. KPMG Summit with a first for the Isle of Man eBusiness, Archie Watt, moderated a would like to take this opportunity to as representatives from the celebrated discussion between leading once again thank the Summit’s International Masters of Gaming Law representatives of the industry’s sponsors, speakers and attendees joined an exclusive selection of 50 payments sector in ‘Dodging the who together demonstrated that the delegates for the first of three IMGL Brussels Bullets: Payment Processors’ Island’s strength lies in its spirit of Masterclasses, sponsored by SMP Priorities’. openness and cooperation. We would Partners. Moderator Joerg Hofmann, Following lunch, kindly sponsored by also like to offer special thanks to President of IMGL, Germany joined PokerStars, the first of the day’s IMGL representatives of the International the Isle of Man Gambling Supervision Masterclasses saw moderator Dr. Wulf Masters of Gaming Law for Commission’s Steve Brennan, Birgitte Hambach and panellists Susannah contributing to a truly international and Sand of the Danish Gambling FitzGerald QC, Andrew Cotton and seminal installment in the eGaming Authority, Jenny Williams of the British Paul Davis tackled the significant Summit series. We look forward to Gambling Commission and Richard implications of operating in part- seeing you all next year. Schuetz of the California Gaming regulated and non-regulated online Control Commission at the Claremont KPMG employs a number of eGaming gaming markets, in a discussion which for a lively and assured discussion on industry specialists both in the Isle of unearthed some fascinating insights collaboration, best practice and Man and provides expert guidance at into the role of regulation and its effect information sharing between every step, and in every aspect of this upon consumers in such a culturally regulators in today’s global sector. constantly evolving industry. diverse practice as online gambling. © 2014-2015 KPMG LLC, an Isle of Man limited liability company and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. 2 headquarters of Continent 8 A word from Technologies. Our world class data centre, situated just 500 metres from the Sponsor the Island’s power station, is the key to a truly global footprint of facilities which now includes London, Paris, Montreal, Combining a world class Dublin, Milan, Gibraltar, Guernsey, communications infrastructure, Malta and Singapore. responsive public/private sector relationship and harmonious cluster Continent 8 is proud to offer the world’s of specialist professionals from all most secure and reliable services at a aspects of the industry, the Isle of complex juncture for the industry, and Man has earned its place amongst to sponsor this year’s KPMG eGaming the world’s premiere jurisdictions for Summit 2014 report. We are committed eGaming and, more broadly, e- to remaining at the forefront of this business. exciting industry and look forward to Today, the Isle of Man is home to some seeing you again next year. of the world’s reputable licensed Richard Ebbutt brands, an ever growing portfolio of ancillary service providers, and the Continent 8 Technologies Cross-border Co-operation by Regulators Moderator: Joerg Hofmann, Senior Partner, Melchers and President, International Masters of Gaming Law, Germany Panellists: Richard Schuetz, Commissioner, California Gambling Control Commission, California Steve Brennan, CEO, Gambling Supervision Commission, Isle of Man Birgitte Sand, Director, Danish Gambling Authority Jenny Williams, Commissioner & Chief Executive, Gambling Commission, United Kingdom “Let me say, personally, that this is gambling market is emerging from an working within federal state systems an amazing group”, Mr Hofmann already well established land-based have the potential to learn from introduced the Isle of Man’s very sector. “In this case”, he explained, “it neighbouring authorities and improve first IMGL Masterclass. “This is for is useful to be able to correspond and group regulatory systems by two reasons: first, because this is a seek assistance when drafting a new establishing common goals and best truly international group and regulatory framework to accommodate practice. secondly, because it is one which online gambling. This is absolutely Having thus introduced the day’s maintains deep contact with one timely because more and more discussion, Mr Hofmann then invited another, which is at the crux of our jurisdictions across the world now face the audience to contribute to discussion title ‘cross-border co- the challenge of online gaming proceedings at any stage before asking operation by regulators’.” regulation.” Ms Williams to please describe “Is there a need for cross-border co- The second, he explained, concerns existing models or practices of operation and, if so, why?” Mr those established regulators which cooperation between regulators. Hofmann continued, adding that the already have existing regulatory Jenny Williams: “When we [the UK topic could arguably be divided into frameworks, have experienced good Gambling Commission] first opened up two categories. The first, he and bad examples, and who could online gambling in the UK in 2007, as a contended, concerns whether or not a learn the dos and don’ts from an modern regulator we had a basic regulator needs to be educated, as evaluation of their own and other approach. It was principle based might be the case in emergent jurisdictions by communicating with regulation, it was for the industry to jurisdictions or one in which an online other regulators. Similarly, those © 2014-2015 KPMG LLC, an Isle of Man limited liability company and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative 3 (“KPMG International”), a Swiss entity. All rights reserved. Joerg Hofmann 4 pursue the licensing objectives – We adopted the same model as the hope that we will
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