case studies
Financial Services
Creation of Regulated Gaming Business Unit
- Client
- Global Financial Services Company
- Sector
- Financial Services
- Download as PDF
- Creation of Regulated Gaming Business Unit
Project description
In order to capitalise on the rapidly growing and lucrative internet gaming market, our client engaged Chaucer to assist in its ambition to become ‘The Leading Regulated Gaming Services Provider’ through the creation and launch of a new organisation.
As a new entrant to the market, the client recognised the need to acquire relevant skills and leading edge technology to both accelerate time to market and to provide the ability to deliver credible and competitive products. Chaucer’s leisure and gaming expertise was seen as invaluable in ensuring that the client’s investment, and the launching of this new business was channelled effectively and thoroughly.
As a trusted advisor, Chaucer was relied upon for both for practical hands-on expertise and at a strategic planning level. As well as the set-up of robust operations to underpin the products and services, a key element of launching the new business in a regulated and fully legal environment was obtaining a gaming license from a world-class gaming jurisdiction.
Chaucer's scope
Strategic direction – executive level provision of guidance and support for all areas of new business activity.
Business case production – providing a significant contribution to the preparation of a strong business case to secure the necessary funding and investment.
Acquisition first phase – search for, select, and recommend gaming technology providers.
Operations set-up – support for recruitment, process design & infrastructure installation.
Project management – co-ordination of all third parties and internal teams; management reporting on ‘Newco’ set up, technical and regulatory compliance and testing activities.
Regulatory compliance – Chaucer managed the relationship with the Gaming Control Board, provided regulatory content and drove the timely creation, review and submission of compliance documentation.
Benefits
The success of the project means that the client now has a new business that is already considered to be a strong market contender.
Chaucer’s ability to consider and implement practical elements of the ’set up’ has led to robust and credible operations to which B2B white label customers are willing to entrust their brand and revenue.
Chaucer’s strategic view of the gaming industry meant that the Newco was based on a sound, real-world business plan and is thus considered to be a strong market contender with leading edge products that are fully integrated into the client’s parent organisation.
Chaucer’s relationship building and business expertise were vital in obtaining the difficult to acquire - and highly regarded - gaming license. Our client now has an excellent reputation with the Gaming Control Board due to the quality of the regulatory submission, led by Chaucer, and the professionalism of the Client’s organisation throughout the compliance processes.
