Creation of Regulated Gaming Business Unit
Description of Project
To capitilise on the rapidly expanding and highly lucrative internet gaming market, we were asked to assist in our client’s ambition to become the leading regulated gaming service provider through the creation and launch of a new organisation.
A new entrant to the gaming market, our client recognised the need to acquire relevant skills and leading-edge technology to accelerate time to market, and also to provide the ability to deliver credible and competitive products. Our expertise in the leisure and gaming fields was invaluable in ensuring that our client’s investment – and the launch of the new business – was channelled effectively and thoroughly.
A trusted advisor, we were heavily relied on for both hands-on experience and also at a strategic planning level, which involved both the setup of operations to underpin the products and services, and also the acquisition of a gaming license as a key element to launching in a regulated environment.
Chaucer’s scope
Our involvement with this project was on multiple levels. Firstly, in strategic direction, we were to oversee executive level provision of guidance and support for all areas of new business activity. We were also asked to provide a significant contribution to the preparation of a strong business case in order to secure the necessary investment, and were heavily involved in the search for, selection and recommendation of gaming technology providers.
In terms of operation setup, we provided support for the recruitment, process design and infrastructure installation, project managing the coordination of all third parties and internal teams, management reporting on ‘Newco’ setup, and technical, regulatory compliance and testing activities.
The Chaucer team also managed the client’s relationship with the Gaming Control Board, providing regulatory content and ensuring the timely creation, review and submission of compliance documentation.
Benefits
Our client’s new business – already considered to be a market contender – speaks for itself. The ability to consider and implement practical elements of the setup has led to our team creating robust and credible operations to which B2B white label customers are willing to entrust their brand and revenue.
Our unique and strategic view of the gaming industry also meant that Newco was based on a sound, real-world business plan, considered to be a strong market contender with leading-edge products, fully integrated into the client’s parent organisation.
Also vital in this project was our team’s relationship building and business expertise. It enabled us to obtain the difficult-to-acquire – and highly regarded – gaming license, affording our client an excellent reputation with the Gaming Control Board (thanks to the quality of the regulatory submission), and the professionalism of the client’s organisation throughout the compliance processes.
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