BMM Testlabs is no stranger to G2E Las Vegas. The renowned gaming certification lab is set to commemorate its 20th year at the global gaming expo this upcoming edition, set to be held October 10-13 at The Venetian Expo.
Ahead of the company's return to the show, Yogonet held an exclusive interview with Travis Foley, EVP North America & CTO, who talks in length about BMM's plans for the event, as well as new developments in the gaming industry from a compliance perspective.
BMM will be participating in the upcoming edition of G2E. What will the company’s presence at the event be like, and what will the business focus on at the expo?
We are pleased to once again be exhibiting at G2E in 2022, our 20th year at the show. BMM will have global and regional staff on hand to continue to support customers and meet new suppliers. We are committed to educating new suppliers about entering any market in the world and looking for a lab partner that is focused on helping them be successful. We will be sharing updates on the ever-expanding gaming landscape in North America as well as developments worldwide.
We will also be joined by the BMM Innovation Group (“BIG”) which will provide support in the key areas of cybersecurity and vital education such as responsible gaming. Our BIG Cyber team provides protection to the gaming industry by helping commercial and tribal casinos improve the security and integrity of their network infrastructures. Our team of cybersecurity experts are pleased to be attending G2E and are ready to help operators understand their cyber vulnerabilities.
What are the company's objectives and expectations for the event? What does this participation at G2E mean for the company, and what impact could it have on its business strategy?
In our 41st year of business, BMM is still growing. We added two new offices to our already expansive global footprint and brought on board Europe’s most experienced gaming lab staff in Slovenia to bolster an already impressive European team. Being the oldest and most experienced laboratory allows us to focus on our customers and their business and product objectives first at G2E.
We expect to help customers navigate the complex regulatory landscape in North America, while providing the most cost-efficient testing and highest quality certification services available in the world. BMM is dedicated to providing access to gaming markets around the world. BMM means any product, any requirements, anywhere.
G2E provides a forum for BMM to share our extensive knowledge on the latest developments across the global market, especially emerging markets. G2E is also one of our best opportunities to listen to regulators, suppliers, and operators to learn how we can best support their objectives.
Learning from these conversations helps us build and deliver new strategies and solutions to our partners. The BMM Innovation Group was born from such conversations and market needs, and now provides solutions that are custom tailored to the global gaming industry.
BMM at ICE London 2020
The expo is set to address new gaming verticals and technology, including changes in sports betting, what’s next in iGaming, and the rise of cryptocurrency. How can BMM be of assistance to companies exploring these booming areas from a compliance perspective?
One of BMM’s key leadership factors is our relationships with gaming regulators. We work closely with regulators to contribute to the improvement of current technical standards. Our knowledge of new technologies such as blockchain and cybersecurity, and our experience across global digital markets, allow us to prepare for current and future challenges when creating and interpreting new regulations and technical requirements.
Entering a new market can be a significant challenge and BMM can provide insights that make the process easy to understand and allow our customers to make well-informed and strategic decisions. BMM services any gaming product in every gaming market.
BMM recently granted its first compliance certification in the blockchain industry to Chainlink VRF. What can you tell us about the perspectives of blockchain-based gaming solutions becoming compliant with the industry? Do you see current regulation as keeping up with these technology changes?
Keeping up with new technology from a regulatory perspective can be difficult. Not only are digital products evolving, but there are new challenges emerging in the gaming industry such as artificial intelligence (AI), blockchain, and crypto technologies that can play in part in the digital space.
For regulators and the industry, this means new technology to understand, new regulations to write, and old regulations to update. This can also potentially lead to new definitions of gambling within these aspects – creating a regulatory challenge for sure. Luckily, companies like BMM are supporting regulators and helping them think through these issues, based on world’s best practice.
We have seen BMM get authorization to test and certify equipment in new US markets as of late, including Ohio ahead of next year’s sports betting launch; and casino gaming equipment in Nebraska and Massachusetts. What can you tell us about these recent developments and your expectations for the US market?
First, BMM must acknowledge our amazing compliance leadership teams that work diligently to receive new authorizations globally. This includes our recently acquired licenses in the United States in Ohio, Nebraska, and Massachusetts.
As most are aware, over the past couple of years we have seen a significant expansion of gaming and wagering across both existing and new jurisdictions in North America. What we have seen, and what we expect to continue to see, is an influx of experienced suppliers from outside of North America entering the market.
We are also seeing existing suppliers investing heavily in acquisitions, research and development, and partnerships to expand their offerings into these new markets. All eyes will also be transfixed on what additional markets may expand into these new segments. We expect that if and when they do expand will significantly impact the future of these segments.