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24 Gibraltar International www.gibraltarinternational.comGamingin Gibraltar and grow the type of business we can do in Gibraltar%u201d. After the chaos of Brexit, he added, he hoped delegates would see the terms of the agreement as %u201ca hugely positive agreement%u201d for Gibraltar, the region and, in particular, the gaming industry. Tier 1 jurisdictionAttendees at the event, which draws Gaming professionals from across Europe, had already heard from Trade and Justice Minister the Hon Nigel Feetham who was equally enthusiastic about terms of the Treaty and how it would help support Gibraltar%u2019s position as a Tier 1 jurisdiction for the sector. Explaining that no sector was %u201cmore important in terms of its economic contribution to Gibraltar than the gambling sector,%u201d he said the agreement would provide stability and a %u201csafeguard for our collective future%u201d.Gambling ActMinister Feetham also said that the longawaited update to the Gambling Act could now be progressed and indicated that Gibraltar was prepared to consider accepting market leading operators in crypto gambling who wanted to move into the regulated space. %u201cAs a jurisdiction, we must embrace growth in areas where technology is shaping the global landscape,%u201d he added. %u201cWe simply cannot afford to be left behind%u201d.Gibraltar Gambling Commissioner Andrew Lyman reiterated that the new Gambling Act would address changes in the operational models of eGaming businesses and bring associated services such as marketing into scope. This would give greater flexibility and scope for multi-jurisdictional gaming operators and updated powers to the Gibraltar Gambling Commission to ensure Gibraltar maintained its strong reputation as a responsible and respected regulated territory. Crypto currenciesElsewhere at the conference, the Hon. Albert Isola KCB MP moderated a session on the use of crypto currencies in the sector while industry consultant Simon French reflected on capital market trends over the last 20 years followed by sessions on M&A activity from both operator and legal perspectives. Robin Chhabra from Tekkorp Capital hosted a discussion on opportunities in the Latin American market and Dan Waugh from Regulus Partners explored possible regulatory threats to the UK industry.It was important for the industry to address this, he said, and reframe conversations. %u201cOperators must focus and champion the best interests of their customers,%u201d he warned, %u201cBoth in terms of enjoyment and harm prevention. The consumer is all too often by-passed in a debate that focuses instead on harm, taxation, jobs and the black market.%u201dESGA further panel session looked at the question of whether Environment, Social and Governance (ESG) is itself sustainable with various operators talking through the different activities their businesses were working on in this space. The panellists recognised that ESG initiatives were important not only to customers and shareholders, but also in attracting new talent to the sector. With a simultaneous programme of short power presentations in the side rooms touching on many legal and regulatory points of interest, delegates had the opportunity to learn lessons from real life recent examples before re-joining the main room at the end of the day to hear reflections from some of the key operators in the gaming industry. The discussion covered a wide range of topics including cyber risks, the opportunities and threats of AI, regulation, industry collaboration and the value of diverse thinking.ConclusionSumming up at the end of the day Will Hawkley, KPMG Global Head of Leisure and Hospitality, said, %u201cThe KPMG Gibraltar eSummit has once again provided a fantastic opportunity for the industry both in Gibraltar and the wider world to take stock of the market, and the opportunities and threats it faces. %u201cWe were delighted to have both the Chief Minister Fabian Picardo and the Hon Nigel Feetham MP join us on the day, reflecting the importance of the sector to Gibraltar%u2019s economy. We also thank our other expert speakers for their time and reflections which are so valuable to understanding the future direction of the gaming industry.%u201dContinued from p22www.kpmg.com/gi