SAN JUAN – The Puerto Rico Fiscal Agency and Financial Advisory Authority (Aaafaf by Spanish acronym) chose Gaming Laboratories International (GLI) to provide consulting and advisory services to the Puerto Rico Gaming Commission.
In its news release Monday, AAFAF Executive Director Omar J. Marrero Díaz 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.”
The firm is a leading provider of “consulting, testing and certification services to regulating entities on regulation and implementation of sports betting operations, iGaming, Esports, Fantasy Games, casinos, and lotto,” and will be responsible for “developing procedures applicable to the operations of the Commission, using as a model the processes developed in other jurisdictions of the U.S.A.,” according to the release.
Aafaf had issued in February its request for proposals from firms interested in developing the 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 said.
GLI says it has laboratory locations around the world. It holds U.S. and international accreditations for compliance with International Organization for Standardization (ISO) and International Electrotechnical Commission (IEC) 17025, 17020, and 17065 standards for technical competence in the gaming, wagering and lottery industries, as well as International Software Testing Qualifications Board certification.
The activities are expected to represent an additional $87 million over a five-year period.
Economic Development Secretary Manuel A. Laboy Rivera explained that 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 added in the release that upon approval of the regulations, “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.”
Gaming Laboratories International, LLC, is a leading gaming industry service provider of consulting, testing and certification services. Since inception, GLI has provided consulting services to regulating entities on regulation and implementation of sports betting operations, iGaming, Esports, Fantasy Games, casinos, and lotto.