Puerto Rican officials have chosen Gaming Laboratories International (GLI) to provide consulting and advisory services to the country’s gaming commission.
Omar J. Marrero Díaz, executive director of the Fiscal Agency and Financial Advisory Authority (AAFAF) announced that GLI will assist the commission in the drafting of the regulations governing the operations, and providing consulting services to the commission with respect to the industries and activities under its jurisdiction, which include sports betting, fantasy contests, and esports. Marrero also stated that the firm will be responsible for developing procedures applicable to the operations of the commission, using as a model the processes developed in other U.S. jurisdictions.
In February 2020, AAFAF issued an RFP to identify qualified firms that would meet the essential requirements to develop such regulations.
“The AAFAF team is pleased with the selection of GLI, which will help the Government of Puerto Rico develop cutting-edge regulations to swiftly implement the provisions of Act 81-2019 relative to identifying the eventual components of the different industries, while simultaneously allowing citizens to participate in these activities within a legal frame,” Marrero expressed adding that these efforts reinforce the current public policy of Governor Wanda Vázquez Garced, which authorizes sports betting, fantasy contests and electronic games.
These activities are new legal forms of betting and represent a new source of revenue and economic activity for the Government. Projections indicate that the government of Puerto Rico could collect approximately $87 million from this activity within a five-year term.
Department of Economic Development and Commerce Secretary Manuel A. Laboy Rivera stated: “The selected firm will assist the Commission in the process of adopting the regulations that will govern this groundbreaking industry in order to help it reach its maximum potential, along with the local talent and resources in the Island. This sector is projected to contribute approximately $68 million to the economy by 2022 and $87 million within five years. Our work will include making sure that the implementation and the regulations product of this process are in harmony with the public policy of promoting innovation as well as the economic development of Puerto Rico by responsibly adopting sports betting, electronic games and fantasy contests.”
Gaming Commission Executive Director José A. Maymó Azize indicated, “During the past months, the gaming commission has taken several steps to develop its operational structure. As part of that effort, we teamed with AAFAF in the process of selecting this firm that will advise us in the process of drafting the regulations on the several betting activities under our jurisdiction. This is a key element in expanding the establishment of this economic sector. Once the regulations are approved, the action plan consists of starting the licensing processes for the providers and for operators, which involve evaluating not only the legal, financial and technical requirements established in the regulations, but also compliance with responsible gaming and money laundering prevention protocols.”
