In recent years, the gaming industry has experienced exponential growth – particularly in the areas of online and social gaming. That growth has translated into tremendous opportunities for both industry participants and for governments seeking to benefit through sustainable higher revenues in order to support key initiatives such as health care, education and charitable programs.
Capitalizing on these opportunities requires guidance from a multidisciplinary team of legal experts. Osler’s Gaming Practice Group has the insight needed to help clients navigate the complex and evolving legal landscape of the gaming industry.
Responding to evolving industry needs
Increased consolidation in the gaming industry has led to a corresponding increased interest from those wanting to get involved in gaming – more and more potential players are paying attention, including private equity firms, First Nations and provincial governments.
For instance, as revenues from traditional gaming sources such as casinos and lotteries decline, governments are seeking to establish licensing and partnership agreements with online gaming companies to replace dwindling income. Also, thanks to heightened competition and rapidly emerging technology, provincial governments have recognized the need to modernize the delivery of gaming entertainment offerings to ensure more efficient generation of non-tax revenue to fund government priorities in a socially responsible manner.
Public expectations and the legislative and regulatory framework have also been evolving. In recognition of the importance of ensuring the honesty and integrity of all aspects of legal casino and other gaming operations, governmental authorities, operators, suppliers and all industry participants need to focus as never before on risk assessment, accountability, and the establishment of robust compliance and internal control systems. Be it changes to reporting, client identification, or record keeping requirements set out in the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, amendments to provincial legislation and regulations, or enhanced responsible gambling initiatives, all industry stakeholders face a complex landscape that must be negotiated with great care in order to meet the ever evolving demands of consumers as well as the protection of the public.
As a result, the need for expert legal services has grown as well.
Offering extensive legal expertise to the gaming industry
Osler’s position as a trusted advisor in gaming has been built over years of service to many stakeholders in the industry, including leading financial institutions, gaming operators and provincial gaming authorities.
We have extensive experience in both the private and public sectors gained in periods of dynamic growth and regulatory scrutiny, including a nuanced and practical understanding of regulatory and licensing requirements, public policy realities unique to the industry, and operational and financing needs.
This experience has afforded us a deep understanding of the unique business, operational and legal aspects of the gaming industry which, when combined with the depth of our expertise across the spectrum of related practice areas, makes the Osler team a valuable asset to anyone interested in establishing or growing their presence in the industry.
In addition to offering expertise in gaming law, Osler is able to leverage our platform to provide a holistic approach to the broad range of areas related to the gaming industry.