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The MP blamed the Minns Labor government’s reforms for the losses, claiming: “The gambling industry understands exactly what this government’s approach means and they love it: more reviews, more delays and more record losses.
“The question for Chris Minns is simple: how much more harm is he prepared to tolerate before he stands up to the gambling lobby?” she asked.
The reforms, announced at the end of August, introduced a package of what it referred to as “evidence-based” legislation.
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The extent of the revisions vary, but most are somewhat significant with regard to language that is being added or omitted. Proposed changes to Standard 9 (digital pari-mutuel systems), for instance, include mostly small additions, whereas Standard 3 (slot metering systems) has entire sections added and subtracted. Explanatory notes for the edits are frequent throughout all of the proposals.
While Nevada is considered the top gaming state in the US, its regulatory framework related to technology has been seen as slow-moving and cluttered in comparison to other up-and-coming jurisdictions around the US. Ever since NGCB Chair Mike Dreitzer took over last June, modernisation has been a top priority, and these latest revisions are an extension of that.
“We finally got to a point where we said, you know what, let’s drop all our other efforts right now and get these over the finish line and get them up for comment so that we can make sure that we’re current with things,” Jeremy Eberwein, chief of the board’s Technology Division, told iGB.
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Moving forward, history suggests that this month’s rate hike might not be the last. During hawkish periods, the FOMC has paused after an initial rate hike just once since the 1990s, per the Wall Street Journal. Over that period, the US Central Bank has typically lifted rates six to seven times throughout an upward cycle. Warsh has signalled optimism in the economy’s stability moving forward.
“Economic activity is expanding at a solid pace,” he told reporters on Wednesday. “While uncertainty remains elevated, owing in part to geopolitical developments, domestic spending has been resilient, productivity growth is strong and capital investment is robust.”
Following the decision, the odds of one additional rate hike this year jumped to 48% on Wednesday afternoon on Polymarket. The contract asks traders to predict whether the upper bound of the Fed Funds Rate will hit 4.25% by the end of 2026. There is now a 21% chance that the Fed will stand pat for the remainder of year, with a slightly lower probability that the upper bound will reach at least 4.5%.
