 Oh, you know what? Can I have a pause? One second, please. Oh, yep. Sorry, Chair. You're all set whenever you're ready. I had hit the, I had hit co-live. One fundamental piece of information I'm just missing. My apologies. Crystal's turning to it. I can find it myself, too. My apologies everyone. I always have it. Okay, thanks. We'll get started. You're all set. Thank you. Good morning, everyone. My apologies just for the brief disruption. This is the Massachusetts gaming commission. We are convening a public meeting today and because we're using a virtual platform. I will ask for a roll call. Good morning, Commissioner O'Brien. Good morning. Good morning, Commissioner Hill. Good morning. I'm here. Good morning, Commissioner Skinner. Good morning. And good morning, Commissioner Maynard. Good morning. I'm here. Okay, we'll get started. As I indicated, this is a public convening of the Massachusetts gaming commission. And today is January 6, 2023. It is public meeting number 419. And I'm going to start with, first, my appreciation. We wish to thank each applicant here today for its interest in obtaining a license here in the Commonwealth to conduct online sports wagering. We have before us representatives from the following businesses. We believe that Massachusetts offers an exciting opportunity for legal, regulated, and safe sports wagering. An opportunity we're going to be able to use in the future. We believe that Massachusetts offers an exciting opportunity for legal, regulated, and safe sports wagering. An opportunity which will be grounded by commitment to integrity and responsible gaming. We appreciate the efforts you have made to prepare and submit your applications and the extensive related documentation. And we look forward to hearing from each of you over the course of the next several days. As you know, we have been being this meeting specifically so that we may evaluate the six applications that have been submitted to the commission. Category three un-tethers sports wagering operating licenses. Before I turn to our general counsel, who will review the governing laws and associated legal principles applicable for reaching decisions on these applications. I can make first a few introductory remarks. Today as we begin our evaluation of these applications, we as commissioners are reminded of our principal responsibility. Ensure the public confidence and integrity of the gaming industry here in Massachusetts and the strict oversight of the gaming establishments and now sports wagering operators for rigorous regulation. We are further reminded that the commission's licensees will be held for the highest standards of compliance, including an obligation to maintain their integrity. As we have said in the past, the award of a gaming license in the Commonwealth is a peerless privilege and our laws require gaming licensees to be held to those highest standards on a continuing basis. The MGC mission commits us to creating a fair, transparent and participatory process that engenders the confidence of the public and participants. That process is to benefit the Commonwealth while minimizing potentials or realize negative or unintended consequences. We must understand the commission and all of its powers are created by statute. We must follow the process required by law. So before we begin, I'd like to thank my fellow commissioners and the entire MGC team for your commitment to the commission's mission and your diligence over the next several days as we evaluate these applications. I'm very fortunate to serve with all of you because you work tirelessly to implement this new law with the public's interest in the forefront. With that, let me give a brief overview of the process that we will follow in the coming days. I want to emphasize at the outset that the process I'm going to describe should be flexible. Here is our initial take on the framework for our discussions which may be modified as we go forward over the next two weeks and we learn more about the applicants book individually and collectively. Now as we see, we achieve the very best outcome. You will observe that the agenda indicates that this evaluation process will take place over a number of days. There's a reason for this. By statute and regulation, the evaluation of the category three un-tethered application using applications law similar is slightly different from the category one and category three tethered application evaluations. In addition to all the familiar factors that we have analyzed in the context of the other applications, there is an additional factor that must be considered. A collective evaluation of the applications which will take place at the end of the process, which we anticipate to occur on the 18th and 19th of this month. This factor is set forth in 205CMR 218.6 subsection 6A, which states the determining whether a particular applicant will be awarded an untethered category three license. The submission shall take into consideration the variations between the applicants as they relate to any other sportsway through license applicants or licensees. And how granting any particular application or combination of applications would maximize overall benefits and minimize overall terms for the risk of harms to come along. Each application will be evaluated on its own merits. As the final step in the evaluation process, the commission was also considered the differences between the applications as they relate to one another in the previously awarded licenses and how granting any particular application, a combination thereof will benefit from them. In conclusion, my remarks will hear from General Counsel Grossman, who will review the legal provisions and principles that will govern this process. After General Counsel Grossman's remarks, we will begin the process that will take over the next several days in which we will hear from the applicants one by one, as they present their application and demonstrate their technology for the commission. As always, the commissioners may inquire of an applicant at any time during the presentation. After each individual applicant presentation, we'll hear from our consultants from GLI relative to any technology-related considerations. IEB on the suitability report if prepared, go to the specific applicant, and from our consultants from RSM, who will offer financial and economic impact analysis. After each of those presentations, the commission will evaluate each section of the application through the lens of the regulatory factors that are set out in our regulations, in which Mr. Grossman will describe shortly. As we have done with each previous application that has come before us, we will assess the quality of the responses provided by each applicant within each section of the application. At that time, one or more commissioners may seek supplemental information from the applicant relative to any component of their application. At that point during the review of each applicant, I'll inquire among the commissioners as to whether we have a preliminary consensus regarding the quality of the applicant's response to that section. It is important to note that at this initial stage, while the response may be satisfactory, we may explore whether it can be approved upon, given that at the final stage of the evaluation on or about the 18th and 19th of January, we may compare and contrast an applicant's approach or response to a particular issue against that provided by another applicant. Not until that later time will we make a final determination as to whether an applicant exceeded met or failed to meet expectations in a particular area. At any time during each of these public meetings, the commission may determine that an executive session is required for us to fully review and evaluate certain information in any of the applications, except for in the agenda. Similarly, we may determine that an executive session is required to hear from our consultant RSM as specific analysis based upon information provided in the application or series of applications and protected by statute. We vote to go into executive session for the guidance of our legal counsel, but it is anticipated that the public session of this commission will be concluded in the second session. And after our review of each application in the manner I described, on or about January 18th and 19th, we will begin our evaluation as to whether to allow an applicant to proceed in the process and pursue a temporary operating license. There are two parts to this stage of the evaluation. The first part is a review of the applications, given the submission of additional information by the applicant to address any concerns brought forth by the commission during the initial review of the application. The applicant did not meet expectations in any category the commission will discuss, whether or not the efficiency has either been addressed, or whether or not the strength of the rest of the application has compensated for that deficiency. The second part of the review encompasses the seventh factor outlined in CMR 205-18.6 Subsection 6. That can best be described as a collective review where the commission considers how granting any particular application or combination of applications would maximize overall benefits and minimize overall harms for the risk of harms. In reviewing all of the applications collectively, noting that even though we may award up to seven licenses, we need not award a license to each of the six applicants before us. In each of the six cases, we should make a determination as to whether under the substantial evidence standard, a license award to the applicant would benefit the commonwealth and that the applicant has not only satisfied the regulatory factors, but that in light of the entire landscape of Swiss wagering in the commonwealth, the planting of the license will maximize the overall benefits and minimize overall harms for risk of harms to the commonwealth. As I stated previously, this process should be flexible. It's our initial take on a framework for our discussions, which may be modified as we go forward over the next two weeks, and we learn more about the applicants, both individually and collectively. At this point, let's turn now to the item two on the agenda. Oh, my apologies. That's not right. Let's turn now to. I'm not sure because item two, but to General Counsel Wilson. Thank you. Thank you, Madam Chair. Good morning to you all the commissioners and all who are joining us here today. As the chair mentioned of course we're here to so that the commission may begin the evaluation process relative to the six applications. We'll see for the category three untethered sports wagering license. Before we begin though it may be useful to set the stage by walking through the legal provisions and principles that will guide the process and inform the commission's decision making relative to these applicants. I'll highlight a few provisions of the Massachusetts sports wagering act which has been enacted as chapter 23 and of the general laws, and then a number of sections of the commission's recently adopted regulations. And so with that allow me to begin with chapter 23 and in the first place to look is section 63, which says that the commission may issue a category three license to any entity that offers sports wagering. application or other digital platform that meets the requirements of this chapter, and the rules and regulations of the commission provided, however, that the commission shall issue no more than seven category three licenses that are not connected to a category one or category two license. In the present matters, each of the aforementioned entities that the chair referenced earlier, seek to conduct such operations so it'd be eligible under this section. Further, none of these entities are seeking a category three license and association with a category one or category two license. I'm referred to this type of license as being an untethered category three license. And under this section of the statute, while the commission may issue seven of these untethered licenses, it need not issue a license to every applicant that is submitted an application. Only applicants to meet the requirements of chapter 23 and and 205 CMR as I'll discuss further are eligible for a license. Just one further word on the statutory language as it pertains to tethered versus untethered license. Section before says that a category one or category two license may enter into agreements relative to mobile or digital sports wagering with a category three licensee pursuant to the approval of the commission. And this chapter shall require a category three licensee to partner with or have any commercial relationship with a category one or category two licensee. Accordingly untethered operation is completely permissible under the statute. And while an untethered licensee could eventually partner with a category one or category two licensee, it need not do so. If we look at the commission's regulations that govern the licensing process for category three untethered applicants, we should discuss what a category three sports wagering operator license is. The term itself is defined in chapter 23 and section three to mean a license issued by the commission that permits the operation of sports wagering through a mobile application or other digital platforms approved by the commission. Many of the applicants presently before the commission were to be awarded a category three untethered operator license, they would be authorized to operate one mobile application. Now let's have a look at the commission's rules and regulations that the commission will apply in determining whether to award a license to any of the applicants appearing here today. The last place to begin here is with section 205 CMR 218, which as you know is the section that sets out the application requirements standards and procedures. As the chair indicated it's important to recall that the process of evaluating the applicants for category three untethered licenses is a bit different in kind from the process that the commission applied and evaluating the category one and category three tethered applicants. Unlike those evaluations here the process calls for an element of a comparative review amongst the applicants, and we'll describe that part further momentarily. So this is the first time the commission has had these applicants before it the process itself has already begun an administrative sufficiency review was performed upon the submission of the suitability portions of the applications. The commission can be into public meeting this week in order to receive public feedback on the category three untethered applications momentarily will walk through the factors and standards that the commission is set out for the award of these licenses. But prior to doing that there are a few other provisions and principles that are important to mine. First, the regulations provide that the commission shall analyze the factors and considerations set out in the regulations, but need not do so in any particular order, or give any individual factor any particular weight, and in fact can assign a particular factor no weight at all, if deemed appropriate. In fact, you'll recall that the regulations provide a series of tools that the commission made make use of in the course of the evaluations to ensure that it has all the information before it that it desires in order to make the best decisions possible. As you know the commission may require permit an applicant to provide additional information or documents as the commission deems appropriate in its review of the application. So if the commission is evaluating the information provided in an application or applications relative to a particular factor and further information from an applicant would be useful. You may direct the applicant or applicants to provide it. Additionally, in the course of the commission's evaluation, an athlete if an applicant observes that there is additional information that was not already provided that may be abused to the commission, the applicant may request an opportunity to provide it. Additionally, the regulations provide that in reviewing an application, the commission may request a modified proposal or application or request a best and final proposal from an applicant. And some of the tools at your disposal. One of the other tools that the commission is familiar with is the ability to make use of the services of consultants to aid in the review of the application. Here, there are of course a series of consultant services that the commission may employ, including those from GLI RSM and Ernst and young. Some services performed by UI for the MGC are advisory in nature. Any work evaluations and analysis that may be attributed to UI are prepared solely for the MGC and not for the benefit of any third parties. MGC is solely responsible for administering the sportsway during licensing process and UI is not responsible for MGC decisions to grant or deny any particular license. It's noteworthy that the present review is being conducted as part of a regular public meeting under the open meeting law and not an adjudicatory proceeding. That means a number of things, including that all deliberations must take place in public, and that if necessary the executive session provisions of chapter 38 may be utilized. As it pertains to the instant matters section 21 a seven of chapter 30 a allows the commission to move into executive session to comply with or act under the authority of any general law. In the present situation, there is a general law that gives the commission authority to move into executive session. Specifically section six I of chapter 23 and provides that applications for operator licenses shall be public records under section 10 of chapter 66 provided however that trade secrets, competitively sensitive or other proprietary information provided in the course of an application for an operator license under this chapter, the disclosure of which would place the applicant at a competitive disadvantage may be withheld from disclosure under the public records law. In some, if there is any specific information that the commission would like to discuss, but that an applicant identifies as falling within that provision in the commission agrees, it may move into executive session to discuss that specific information. While the statutory provision in chapter 23 and relates to the public records law and not the open meeting law to require that the subject information be discussed publicly would nullify the whole purpose of the provision which it is designed to protect. In a similar vein, there are specific exemptions under the public records law, including the familiar privacy exemption and exemption and which is commonly referred to as the security exemption, which would apply in a similar fashion. Accordingly application of the executive session provision I referenced earlier is entirely appropriate in these circumstances. Finally, before moving into the regulatory factors themselves. It's important to recall that any final findings that the commission makes must be supported by substantial evidence. This term is defined as such evidence as a reasonable mind might accept as adequate to support a conclusion. So when making a determination as to whether there is support in the application or the record of this meeting generally to find that a specific factor has been satisfied, or that it has not been satisfied relative to a particular applicant. The commission will have to ensure that there is substantial evidence in the record to support that conclusion. The one exception to this rule in an area in which a heightened standard is applied relates to the review of an applicant suitability. By the terms of section 215 of the regulations, any durable finding of suitability must be supported by clear and convincing evidence, not just substantial evidence which is a slightly lower standard. This prudence tells us that clear and convincing proof exists when evidence induces in the mind of a fact finder a reasonable belief that the facts asserted are highly probably true that the probability that they are true or exist is substantially greater than the probability that they are false or do not exist. It must be clear and convincing and must be sufficient to convey a high degree of probability that the proposition to be proved is true, and it must be strong and positive and full clear and decisive. So those are the two standards of review, if you will, that will be in play during these evaluations. So now let me lay out the factors included in section 218. The process that the commission has successfully employed previously to reach a final decision in these cases is to take each application factor by factor and begin to draw conclusions as to the quality of the information supporting each one. You'll recall that the commission included sub factors under each of these factors as well. And prior to beginning the final discussion on any particular factor, it'll be helpful to pause to outline each of these sub factors, though I will not do that right now. The factors themselves are included in section 218.06 subsection five. Each factor falls under the umbrella standard that the commission included in the regulation which directs that in determining whether to award a sportsway during operator license, the commission will evaluate the application to determine whether a license award would benefit the common one. So that's the main standard that will have to be met in order to award a license. In reaching that conclusion, though, the commission provided that it will consider the following factors. And of course, you'll recall that the application itself was designed so as to solicit information in these categories. Factor number one is the applicants experience and expertise related to sportsway drink. Number two is the economic impact and other benefits to the commonwealth if the applicant is awarded a license. Number three is the applicants proposed measures related to responsible gaming. Number four is a description of the applicants willingness to foster racial ethnic and gender diversity equity and inclusion. Number five is the technology that the applicant intends to use in its operation. Number six is the suitability of the applicant and its qualifiers and will return to this one momentarily. And number seven is any other appropriate factor in the commission's discretion. Those were all the factors that applied to the review of the prior applications that the commission has reviewed. Where you're reviewing a category, you're reviewing category three untethered applications here. There's an additional factor that applies as well. And as the chair already referenced, it's set out in section 218.06 subsection 6A. And I think it bears repetition. It provides as follows. Determining whether a particular applicant will be awarded an untethered category three license. The commission shall take into consideration the variations between the applicants as they relate to any other sportsway during license applicants for licensees, and how granting any particular application, or combination of applications would maximize overall benefits and minimize overall harms, or the risk of harms to the commonwealth. The difference previously the final evaluation of these applications takes on more of a comparative quality in some ways than the previous evaluations. And those are all of the factors that will be reviewed. I'd like to circle back momentarily to that suitability factor for a moment. You'll recall that the commission adopted section 215 of the regulations to govern suitability determinations. It allows for two different types of suitability findings at this junction. First is a durable finding of suitability which is essentially the final determination. And the reg also includes the second type of suitability which is a provision allowing for a preliminary finding of suitability. If you noted a durable finding of suitability for the commission. The commission would have to conclude that a particular applicant and each of its qualifiers demonstrated their suitability by clear and convincing proof at an adjudicatory proceeding. Let me just submit to you that where none of the applicants before you today have been subjected to a thorough probity investigation by the IEB or review at an adjudicatory proceeding conducted by the commission. None of them would qualify for the durable finding at this junction. As a practical matter that means the commission is considering whether there is evidence in the record to support a conclusion that the individual applicants are in are preliminarily suitable. This requires a review under the substantial evidence standard, not the heightened clear and convincing standard. Under the regulations of finding a preliminary suitability at this stage makes the applicant eligible to request a temporary license to commence operations, while a complete suitability assessment is being performed. So those are the factors that the commission must consider in order to make a licensing decision. If you look your way through the evaluations though it may become clear as it has in the past that a condition of licensure will be appropriate in a particular area. For example, you may find that information relative to a particular factor is lacking. In that event, it does not necessarily mean that the applicant cannot be awarded a license. It may simply mean that an area may require to be supplemented with an appropriate condition. The conditions are described in section 220 of the regulations. You'll recall that there are a number of automatic conditions like an obligation to obtain an operation certificate prior to commencing operations, and that the operator comply with chapter 23 and and all commission regulations. But there's also a provision that allows the commission to impose any other conditions that it determines are appropriate to secure the objectives of chapter 23 and and 205 CMR. So the prior and prior evaluations will be beneficial to begin identifying any additional conditions as part of the initial review of each individual factor. Then once the commission has made its way through all of the enumerated factors of all of the applicants, including a review of the additional factor related to the variations between the applicants. If any final decision is made as to whether to award licenses, the commission can definitively establish what those final conditions will be for each applicant in the event that commission is inclined to award a license to a particular applicant. Once the review for each applicant, including that additional factor is complete, the commission may decide whether it will award an applicant a preliminary finding of suitability, making them eligible to request the temporary license. I think the commission may deny the application. Was that me or was that. I was just asking the same question. I don't think that was me though. So, Councillor Grosman, you, you froze for a moment. So we play her. Sure. Thank you. Okay. Do you, I'm not sure how long ago I froze, but I will. Just a second. Okay. Let's see. Okay. Okay, so I was just saying that once the review of each applicant, including that additional factor is complete, the commission may decide whether it will award the applicant preliminary suitability which would of course make them eligible to request the temporary license. Or the commission may deny the application for failure to meet the standard in subsection 6A that I described earlier, or for failure to meet another requirement of the regs, including the license for benefiting the Commonwealth, or for having violated section number nine of chapter 23 and at that juncture a written decision will be prepared and issued commemorating the commission's decisions. Keep in mind of course the award of a temporary license does not mean that the licensee has the green light to commence operations. It simply means that they're eligible to work towards the award of an operation certificate, which is a prerequisite to conducting sportsway during operations. As described in section 251 of the regulations and requires submission and approval of such things as internal controls, including the house rules and compliance with any of the conditions that may be imposed as part of the award of a license. So with that, Madam Chair and commissioners, I'll conclude my introductory remarks and turn the matter back over to you, Madam Chair. Thank you so much for the announcement and a reminder because that's a lot of information that we're putting out just one time in the series of our evaluations of the course of the next several days. Our meetings are recorded. So any of you can go back to to hear the the legal references of regulations, the statutory references for clarity. I wanted to state that this does conclude our introduction to the process for the evaluation of the intent category three licenses. In addition to going back to the record, should you have any questions, please don't hesitate to reach out to executive director Wells or Crystal Bushman, both who I know you have considerable familiarity with. We thank each of you for appearing here this morning. It is now 1037 1038 commissures and I suggest at this time we'll take a 15 minute break as we prepare for the presentation of our first candidate and that will be valleys interactive LLC. We look forward to it. So that puts us about just just before 11 1055. Does that work. 10 minutes better. 15 minutes good. 15 minutes 1055 will return. Good morning, everyone. Good morning. Our high mouse. Good morning, everyone. Again. We're reconvening this public meeting. On January six, we're holding it virtually. Take a whole calm. Morning commissioner Ryan. Good morning. I'm here. Mr. Skinner. Good morning. Good morning, Mr. Mayor. Good morning. I'm here. Okay, now I'll set to proceed. And again, thank you, the valleys for your early attendance this morning as we set the stage for our process. And as I noted, you are our first applicant. You may have maybe not that we live by the alphabet. So there you go. So we are going to get started on our agenda. We're going to begin the evaluation process of your application by asking if you would like to start with your presentation and then hear from your technology components. Before we get started, I think it would be wonderful if you could introduce yourselves and then before we go behind the screen with your presentation. Absolutely. Good morning, Madam Chair and good morning to the commissioners and the staff at MGC. My name is Adi Dandanya. I'm the COO of Values Interactive in North America. I'm joined here by many of my colleagues from around the world and we do have a presentation that we will put up. So if you wouldn't mind, I can quickly introduce the presenters for today and then we could put our presentation up. That would be excellent. Thank you. Right. So I am here actually a resident of Massachusetts, Adi Dandanya, the COO of North America for Values Interactive. And with me today will be my colleagues from both London, Canada, joining in and presenting about Values and what global gaming operations. On the platform side, we will have Donald Beatson who Donald, if you want to just raise your hand, he heads up our platform Technology, Raviya Lali, who's based in Rhode Island and talk about our sports betting engine. And then we'll have Mark Gord who's in Toronto and we'll talk a little bit about our data and data analytics capabilities. Moving on, we will do a part of demo. And on the demo side we have Jonathan Liska, who will talk a little bit about our KYC on boarding and responsible gaming tools. It will be followed by Martin, who's going to talk through the product in more detail. And then Chris will give us a demo of what wagering and navigation looks like on our platform. And there's other colleagues that we have that are on the line that would be here to join and answer any questions that the Commission may have. Thank you for that. And so I think it makes sense to move into the presentation. Commissioner, is there anything else to ask? So, Rama, if you could please share the presentation. Thank you. So thank you for the opportunity to introduce Values Interactive to Massachusetts Gaming Commission and share an overview of the product we started rolling out in North America. I would like to take this moment to thank the Commission for all of their efforts and hard work to establish license and non-sports betting in the Commonwealth. I am extremely delighted to present what Values has been doing over the last few years and talk a little bit about how we think we would be successful in position in Massachusetts. So let's jump into the next slide. Today we have three distinct areas as I highlighted during my intros where we give you an overview of Values Interactive. We talk a little bit about a proprietary technology and we will do a part of demonstration and we'll be having to take any questions that the Commission or the staff members may have. As we talk about Values, I just want to give a quick overview, Rama, if you want to move to the next slide. Values is a publicly traded global gaming company with millions of players spread across both our digital gaming platforms and our traditional casino venues. Many of you who may be local to the area may remember Twin River Casinos. So Twin River Indoor Island and the Tivoring Casino Indoor Island were part of what used to be Twin River Worldwide Holdings and that has now become Values Corporation over a series of transactions that took place over the last couple of years. We are a company that's listed on New York Stock Exchange and have a diverse workforce of over 10,000 employees spread across multiple offices around the world. Values is one of the fastest-going gaming companies in the world and our assets in the United States alone include 17 casinos spread across 11 states and access to online sports betting in 19 jurisdictions including the U.S. and Canada. Our casino operations boast an impressive total collection of 15,000 slot machines, 500 table games, and 5300 hotel rooms. Values Interactive is the home of our digital gaming products with leading brands such as Values Vet and Jackpot Joy, which is our brand in the UK. Our presence in the retail casino and online gaming allows us to connect with our customers to our only channel offering. We today serve over 500,000 monthly customers at our casinos and over 750,000 online customers through our platform. As a sports betting and technology organization, we have over a thousand technology employees worldwide that manage a proprietary technology products that range from free-to-play assets to daily fantasy sports assets and a full-stack sports betting and online casino solution. As an online sports betting organization, we have several partnerships with sports teams and leagues such as MLB, NBA, WNBA, and NHL for all of who we are official gaming partners. We also have specific team-related partnerships in specific states and we continue to expand those as we grow our footprint throughout the US. On the media front, Values has an exclusive relationship with Sinclair Broadcast Group and Diamond Sports Group, which gives us access to what's called Values Sports Regional Net. Values Sports Regional Net covers half of baseball, basketball, and hockey throughout America. On the Sinclair Broadcast Group side, there is access to 190 TV stations spreading across the US alongside which we get access to tennis channel and other OTT platforms that Sinclair and Diamond own for us to produce exclusive content and be able to market to customers and players. If we move to the next slide, this slide gives a visual representation of our ever-growing presence across North America. It highlights our physical casinos and our online sports betting licenses. We are live today in eight states and provinces with our online sports betting and or online casino offering. This is something that has been evolving over the last 12 months and will continue to do so. And as I go through my presentation, I'll talk about the series of M&A transactions that Values has been on that has helped us bring lots of experience globally to bear in North America and how we define our product strategy going into new states during the US. If we move to the next slide, it highlights the significant growth that Values has witnessed over the last couple of years. We're extremely proud to bring together what we call the one Values experience in Massachusetts that highlights a diverse experience across gaming products. Moreover, we're proud to bring the experience of our diverse and global workforce to being successful in Massachusetts. Executives and employees at Values represent diverse segments of the population and they shoulder the expressed values that advance diversity at Values. Our public company board is made out of nine directors of which four are minorities including women. Minorities make up 50% of our employee base across our casino footprint and the employee mix is highly representative of each property and the market demographics. The leadership at the company including myself, my superiors are invested in elevating our diversity numbers annually. Values supports many local community organizations in New England and will continue to do so over the years. Slide 10 which is the next one talks a little bit about our strategy and why we think we are unique and different and it can operate at scale. Through a series of transactions and partnerships that we've done over the last 12 months we've defined what we call the better funnel. At the very top of our funnel we have our unique relationships that I alluded to with Diamond Sports which helps us rename the regional sports nets to Valley Sports and our presence across the TV and local broadcasting through Sinclair. This is a source of our digital acquisition combined with our global brand Values which is pre-endemic to the gaming industry. Once we acquire customers through our digital funnel we have free-to-play products all owned within our portfolio that allows us to engage and learn more about our players. We also can market to them our retail casino products and where legal we can market to them our sports betting and IGIN products. This funnel approach gives us proper life cycle management and as you will see throughout our presentation gives us a tremendous amount of data to be able to appeal and engage with our customers in a responsible and safe way. If we then move to the following slide we talk about our approach by way of the player funnel which is our goal to providing engaging experiences and we do so in a very responsible way. We feel strongly of our position as a gaming company with a vast regional casino footprint, a proprietary gaming stack and unique partnerships that allow us to leverage our global brand across several media outlets across the US. We think that our brand combined with our ability to market to our customers both in the retail space and digital space sets us apart. We are bringing forward new innovations that allow us to offer a single registration and a rewards program tied to unified wallet which will help the customers have a frictionless experience while they're part of the Values ecosystem. If we move to the next slide and this will be the basis of our platform demonstration I want to highlight some of the core tenants of the platform that my colleagues will speak to in further detail. As a consumer facing business it is very important that we deliver on a customer first experience which is safe and responsible and many of the tools features and capabilities that you will see in our platform that has had two decades of experience is based around those fundamentals that we think very strongly about. It is also important as a omnichannel gaming company to provide a frictionless journey for our customers and we focus on a lot of different promotions tools and technologies that help us deliver that experience that is seamless when you enter the Values ecosystem and we do so by creating numerous content that's exclusive to us and marketing promotions to the players all done in a responsible way with a lot of checks and balances throughout the process. All of our approaches be it to the product be it to the marketing or even lifecycle management of our players is backed by very strong data analytics we pride ourselves on the amount of analysis and insights that our systems are able to generate it is truly impressive I mean you hear a mark speak about it you will understand the depth and magnitude of what we do when it comes to analysis of our players and all the different data points that we analyze throughout the customer journey. With that I would like to pass it on to Donald to speak a little bit about our platform in detail and Donald and Ravi together we'll talk about how our full technology stack across our PAM and the online sports betting industry come together and what we will be bringing to the commonwealth of Massachusetts. So Donald over to you. Thank you Adi and hopefully everyone can hear me and if we go to the next slide please and let me just introduce myself a little a little more so I'm Donald Bates and I'm the SVP of the Excite platform here at Bally's I report to our group CTO. I lead a technology team of more than 200 based in Europe and North America and that team owns and develops our proprietary Excite gaming platform. So Excite is live with integrated bingo casino poker and sports book products in a variety of jurisdictions across Europe and North America and our platform started its life more than 20 years ago powering games this is online bingo and casino sites in the UK and Europe we're bringing that technology that knowledge that know how to North America we launched with games in New Jersey in 2013 and over the past few months we're now live with Bally's in New Jersey in Arizona in New York in Ontario and in Indiana with more on the way. So what is Excite? Excite consists of our player account management platform or PAM with regulatory and responsible gaming controls, secure and high performance wagering system, integration with market leading payment and KYC providers and real-time marketing capabilities. We enable a modern user interface and applications with support for a fully responsive web client and for iOS and Android apps distributed through the Apple and Google app stores. We also provide a set of back office tools and reports which enable our customer support and operational teams to manage the play on our sites and on our apps. Despite the 20 years of heritage we have a modern tech stack we constantly develop and evolve the platform to meet the latest standards whether those are regulatory standards, responsible gaming standards, customer experience or technology best practices. Our platform's secure, performance scalable and we deliver to high quality user experience. Our development teams have strong engineering principles but more importantly have huge domain experience and delivering software for the online gaming industry. Comfortable working in a highly regulated environment and understanding the nuance and industry specific requirements of providing compliant, safe, secure but enjoyable online gaming experiences. Our platform is supported 24-7 by our team of knock and tech hop support teams in Europe and North America who along with our development teams are capable of providing 99.9% availability and we follow a professional ITIL standard incident management process if or when incidents and problems do occur. I'll now hand over to Ravi who will describe our sports betting engine. Thank you Donald. Good morning to everyone, happy to see you all. Just a little bit about myself. I'm Ravi Haldahalli, Senior Vice President of Sports Technology and I'm Don Spear reporting to our group CTO as well. We have over 100 passionate engineers working on our sports book and which is which is called Evolve and Evolve is built for North America with keeping the North America market in mind. The platform is fully GLI 33 certified and it's live in multiple US states that Donald just spoke about. It offers unparalleled stability, security and scalability to deliver best-in-class sports betting experience for our players. There are several capabilities that the platform has and our proprietary risk management tool that allows line management, exposure management, bet alerts, event creation and management and regrading when necessary. These tools are also seamlessly integrated to our PAM which is the exciting part of the tech stack which allows a risk management team and customer service team to drill down to any level of detail to serve our players better. Evolve has been evolving over several years but the core tenant is built on modern architecture which is microservices-based which allows for rapid development, deployment and enhancements. One of the core advantages of this is that it's fully containerized which allows us for elastic scaling. As you know, sports betting is a very event-driven business and our platform is built such that we can elastically scale to handle large volumes such as seen during Super Bowl events. It's a rock solid platform which is built for North America and has served us really well and we are continually adding new features to the sports work platform as we launch this and roll this out into multiple states. With that, I'll hand over to my colleague Mark Bork. Thank you Ravi. Good morning everyone. It's Mark Bork here. I'm the SVP for data and I also refer to the group CTO. I'm based in Toronto. I lead the data and machine learning function. We are a diverse team of 60 talented members across Estonia, Malta, London and North America and we do have like various cross-functional regional teams. We do adopt a hub and spoke team model. This allows us to have regional scalability without compromising our overall governance. As a combined data team, we are essentially responsible for the execution of the group's data strategy across all the jurisdictions we operate in. In terms of our data and machine learning capabilities, we managed to achieve this through our homegrown Vitruvian platform. This is our modernized and source agnostic platform which is deployed alongside all the other internal platforms across interactive and retail. As you can imagine, such interoperability between the different internal press force across the different business divisions allows us to fulfill a wide range of requirements including automated regulatory reporting, internal analytics, analytics across key business divisions, extensive data-driven marketing capabilities and strong operational governance through real-time learning. Last but surely not least, we have extensive predictive and recommendation capabilities which are highly integrated with our marketing and operational platforms enabling us to provide a more customer-centric journey. With that, I will hand over to our CEO Adi Dantanya. Thank you. Thank you, Mark. Roma, if we can move to the next section of the presentation which will be part of the demo. Let me bring on Jonathan to give us a little demo of the KYC and responsible gaming part. Is that good, Madam Chair and commissioners, or do you want to pause for any questions that you may have? Commissioners, if you have questions now, you could ask them or you could save them for our walk through the application. We have asked questions about the the demonstration. It's not too disruptive at times, but otherwise we have to increase help. Yes, please feel free to do so. Please interrupt us because we know that we're trying to pack a lot of information in a very short amount of time, so if we have to pause a video because we have tons of part of demos, we will do so and respond to any questions that you may have. Madam Chair, I just have a very quick question and it's one I ask of every applicant, so it's an easy one. Customer service wise, I heard you say you're available 24-7. I just want to know, is that through chat and live or just through chat, how would I get hold of somebody 24-7 if I had an issue? Yeah, we currently offer both chat and live throughout 24-7 and so for every state that we operate in, we have different sorts of service levels and we have a whole team in New Jersey that responds to our 24-7 team. So if I had an issue, would I go into a chat first to get a live person? Is there a phone number I could call to get a live person? There is a phone number available. You just said it's through a phone number? Yeah, we have a phone number available. Yeah. I think that answers my question, Madam Chair. Thank you very much. Thank you, Commissioner Richards, are you all set? All right, we'll proceed with the demonstration. Thank you. Thank you. If you could just go back a couple of slides. I'll briefly just introduce myself as well. My name is Jonathan Lisker. I'm Head of Regulatory Product here at Belly's Interactive, so I work closely with everyone else we've got represented today and I work across a number of technology and business units to ensure that our customer-facing products and meeting local jurisdictional needs and remain competitive in the marketplace at the same time. We're going to do a couple of videos in a minute, but I'll just quickly talk over what we're going to be looking at. So we have an easy to use registration form. We capture only the required data and consent from prospective patrons that we need to be able to open an account. We have configurable options, which can be set up per jurisdiction to limit account creation to just one per identity, if that's needed, if people want to do that. We can also allow more than one account, more than one brand, depending on where we are. We have integrations with local regulator self-exclusion systems and we prevent any self-excluded persons from actually opening accounts in the first place. If someone becomes self-excluded at some point after opening an account, we detect them either in nightly jobs or in real time depending where we are and we close the accounts accordingly. When we do registrations, we now have a quick address picker, which is live in all of the states that were active in the US and in Canada and also in the UK. So that helps us make sure that customers are entering the correct address details and they can pick their address from a menu of options, predictively. We have... Can I... Sorry, Mr. Lyska, this is Commissioner Ryan. Can you just explain to me why somebody would want to have more accounts per person than just one account for themselves? We found that over the years a number of places people try to open more than one account. For responsible gaming purposes, it's obviously better to limit to one per person. Some jurisdictions it's a jurisdictional requirement, but in others it isn't. Why would people want to do it? Typically reasons like bonus abuse attempted to get a welcome offer more than once, exception. Well, they've forgotten previous details and tried to open another account. Okay, thanks. Can I follow up questions of that? Other jurisdictions regulate that and limit it to one? Is that what you're saying? They do, okay. But not all of them. But that's what I thought your point was. Thank you. We have an industry leading approach to KYC, know your customer, and we utilize configurable journeys according to which jurisdiction we're active in. We use real-time checks with leading identity verification providers and we have capabilities to do document verification through these integrated tools. And we also have in-house specialist KYC agents. We have Bepp and screening checks by trusted third party providers as well, which we run on account creation. Any questions about them? Thanks. Next slide, please. We'll see an overview of using some of our RG tools shortly as well, but we have a full suite of responsible gaming tools allowing agents to control their time and financial activity on the sites. We offer the below limits, but we can customize them based on individual regulatory requirements. Deposit limits, we offer daily, weekly, and monthly basis. And you can have concurrent limits in place. And the most restrictive is always the one that is being acted on your account, which means you can have a daily one set up at the same time as a weekly and a monthly. Session limits, this is a time-based amount. So you can set limits on the length of a wagering session or gambling session. And you can limit gambling sessions to not exceed pre-selected periods. Once a limit is reached, players are automatically logged out of the system. And they're used more frequently with online casinos rather than sports books from our experience. Spend limits. Players can set a limit based on the amount they're wagering, so a total amount of wages. And we can also set that total amount of net loss as well as configurable. And again, that's daily, weekly, and monthly. And we have call-offs or timeouts, take-and-break type features, which is a configurable time period where you can take a break from being able to access the site. And typically, we offer that from 72 hours up to four weeks. But in some jurisdictions, the minimum period is 24 hours. And self-exclusions, as I mentioned earlier, were integrated with state systems if they're present. And if they're not present or concurrently, we can offer our own in-house self-exclusions. And RG Histories, players can review their history of using any of these limits and tools at any time they wish. And we also have a lot of comprehensive information on the site explaining how to use the tools, gambling problem awareness, and links to any relevant industry support services. Thank you. Next slide, please. We've got two videos to look at. The first one is a video that is actually made to be customer-facing. And we place this within our RG pages as information for the customer. And if we can play the first one, please. This video is actually used in New Jersey for our Bali casino. And there is a voiceover. I can't hear it right now. But there is someone talking over in the background. Oh, a voiceover. Thank you. And the next video is going to be a demonstration of actually opening an account and using some of the RG tools and looking in my account section. So when that starts playing, I'll talk through what's going on. Thank you. This is account creation. And this is the first part you see where we enter email address. We don't allow duplicate email addresses. So if you did enter one that's already been taken by yourself or someone else in the system, it will be rejected and prompt you to create another one. In this case, this isn't a duplicate, it's a unique one at the person's entry. First name and surname. Obviously prerequisite information we need and date of birth. And we do ask for gender. That is something which can be configurable as well. We don't have to ask for gender. We just have done over the past few years for market research purposes, really. You have to pick a username present. And again, if that's been taken, you can't have a duplicate username. And you have to have a password. And we can configure the rules around the quality of the password that you enter. So you can have special characters, capitals, numbers, et cetera. We do ask you to put it in twice at the moment to reduce errors and customer service queries. And this is the address picker, which is going to be demonstrated now. You start typing an address and then you can pick it from the list of options that appears. Again, this particular account creation form is on Bally's Casino in New Jersey. But we take the same approach on all of our sites. We do require a phone number. And we will use that to contact you if you choose that as a contact preference. And we ask for last for SSM. And there are various consents which configurable per jurisdiction, depending on what we need to display to the customer and what information we need to record. And this is pause there, please, Rami. At that point, what happens when you click Join Now? You're doing the KYC check. So we're going to a third party. The data is being sent across. They're verifying it. If it comes back successful, you land just a second before this part. If you can slightly go back, Rami, you land on this, which is you've been KYC successfully. That means you're authorized to play and you're authorized to deposit. And typically, we land you on the first deposit page. And we do, in this case, we've got a warning at the top of the page there saying that you can set your limits before you play, which is one of our RG initiatives. Any questions on this part so far? I have one question. I don't know if my fellow commissioners have a question. I feel to them first. Okay, I'll go ahead. From your application, I like that you've referenced that their app includes information of underage gambling and protecting minors and that you have parental controls. I don't know if you've heard reference to parental controls. I'm assuming that that's established somewhere early on. Could you just tell me how that works? Are parental controls, I think, are relying more on the fact that if someone isn't old enough and they won't pass KYC, they're never to get past this point. Okay, I wondered if you had anything else? Yeah, it's not a gaming environment where you might have a game that deals with maybe blood or draw and you can filter it out. It doesn't work like that. It's not those kind of parental controls that we have. I just wondered if you had some other kind of a barrier. Thank you. Brian, were you? I did the question about gender and I honestly didn't really notice how many, if any, asked for that in the other applicants we've seen. You implied that it was marketing, not a security request. It looked like it was a mandatory box on the screen, but I just wanted to double check. In this example, that's a mandatory box, but we can remove the ability to ask the question at the moment we're asking the question and you can't ignore it, but we can give other options and we can not ask the question. It just depends on the way we set up the page. Okay, thanks. And of course, Coach and Brian, the follow-up is that if it's mandatory right now that doesn't really address all folks who may not identify with the email stuff, the very least should be a third. The second question is if it's going to be asked, yeah, how broadly is it asked? Yeah, thank you. But I appreciate, Mr. Liske, you bringing that up first to us. So thank you. Thank you. If we slightly move forward from this page, I'm going to start to move on to what happens if you don't pass the automated KYC. So depending on the quality of the data you entered, if the Bureau has no record, you'll be rejected. We do offer you the chance to upload, if you can go back slightly to the white screen. We offer you the chance to what we call recover, and that's an internal term for it. But effectively, you can upload identification. So if you fail a check with a third party, we invite you to either upload if we have a system in place, which automatically verifies documents, a third party system, or we have the ability for our KYC agents to review document uploads and process them accordingly. And actually, on the live chat option, that goes through to our customer services team, our specialists who work on KYC, and they may have a conversation with the patron to get to the root cause of why they didn't pass KYC, which more often than not can be a typo somewhere in the registration form. Any questions on KYC? Thank you. If there's no record of you at all in the Bureau, or if for some reason you're blocked perhaps due to self-exclusion, or we have a record of you being deceased in a check with a KYC provider, you will then not proceed and you'll be blocked from even given the chance to recover. Thanks. A museum video, please. And this is one of the blockages your account has currently closed. And now a successful login, someone who has passed KYC. And then we'll start to look around the site itself and get the RG features. Again, this is our New Jersey Casino site. We have a dedicated menu item for play responsibly and direct links to some of our tools, but we also have an RG page, which we'll see shortly as well. Staying in control is a lot of our informational resources that we have on here. We have a lot of options. There's a lot of things for players to read through. They explain how the tools work, what they are briefly, and the actual tools can be configured and activated from this section as well. At the moment, this person has no limits. They're going to set up the limit and we'll demonstrate the fact that if a limit is set up, you can only remove it straight away if you're changing it for a more restrictive limit. If you're going for a more relaxed limit, you have to wait until that initial limit has expired and you're showing the difference between pending and the active limits. You can have a daily and a monthly at the same time. That's the concurrent. This is our session limit, which is how one can actually be playing or waiting for on the site. And similarly, it would be a spend limit feature. You can see I've gone from a 1,000 to a 2,000 limit now. And shortly we'll look at the call off, but that'll be the last thing I'll do. I'll be looked at some other sections. These are some of the useful third-party support groups you can contact. We're going to look at our history of using the RG tools. This allows patients to review which tools they've been using and which limits they've changed from X to Y. This is our managed details section. This is just where if you have to update your email address, change your contact references. You can also view your member ID, which if you're contacting customer services, you might be asked for for additional security or investigation purposes. Now, back in our responsible gambling page, that you're going to pull off, that then closes your session. When I return to the site, that will be blocked from entering, which we should have a demonstration of as well. You can see the message that I've taken a temporary break and it tells me the exact date and time that I'll be able to re-enter the site. That's it for the demo of our RG tools and account features and account creation. Please, any questions? Commissioner O'Brien, did you want to follow up on the cooling off period? I don't have any specific now, unless you can ask if you have some. Okay, thank you. It looks like we're trying to figure out our regulation. When the cooling off period, let's say I choose the six weeks. I think you just showed us that I would go into a screen that would tell me when the cooling off period ends, so I'd have to affirmatively go in, or do you provide any notice to say you're cooling off periods? So what happens there? So when you click on the activate cool off, if you've selected six weeks, you'll be presented on screen with a pop-up that says you have chosen to cool off until this date, then you're logged out of the site. And then when you return, say you return tomorrow, you try to log in. It won't let you log in. It will come up with a similar message saying that you're on a cool off. You cannot enter the site until whatever the date is, six months. That's six weeks from now. And you don't push out any notification of the nearing conclusion of your cooling off period. It just stays static on the store. Do you actually do an affirmative notice as well? We can do. We generally don't as part of our G policies, but we can technically do. And on our next slide, we've got some examples of some of the system emails which is sent out depending on what you do. And there is a cool off related. And then if it was six weeks in a day, I'd go into my account and then it would just be like, you'll just get into the account and it was normal. Okay. Very helpful. The only other question I, Commissioner Skinner, the other day I was reminded of a question that you asked, and that was about the bearing times that you could choose to play, play limits. And I think that was an interesting question. Can you choose to go as few minutes of the day as you want? Or are there set minutes? So we have special limits. So for instance, you could set your session limit to an hour. And the purpose of that is really an hour per day. We don't currently offer, although it does exist as a feature that we're working on, we don't currently offer the ability to say, I only want to play between six o'clock and eight p.m. So that is an hour that we start and then during that 24 hour period. So Commissioner Skinner, I can't see you, but I don't know if you have a follow-up to that. I thought it was a good question. I don't, I'm all sad. Thank you. Okay, great. Thank you. That's helpful. If there's no more questions, I think he wants to add a bit more detail around this as well. Yeah, just a couple of points to add. One is, as you've seen, that our interactive proprietary marketing and bonus engine is rigorously bad and tested. We have tons of data and experience. We apply data analytics to our proportional and retention efforts as well to ensure that we have not only a return on investment, but more importantly, we're flagging possible responsible gaming concerns based on all the data inputs that go into the truth. In fact, our advertising creative manager, Madam Chair, you asked some questions around the advertising piece. We absolutely display the prominent minimum age information and we have age targeting exclusions and are pretty confident that we can minimize the exposure and risk to our players. And Jonathan obviously covered some of the restrictions we have with cool-offs, etc. The other point, this is more for Commissioner Hill, since you have the question, you may have seen that when we have that video demonstration, there were three forms available for customer service, right? And it offered phone, chat, and email. So we provide all three forms of customer service, as you saw when Jonathan was going through his presentation. Currently, we're set up from 9 a.m. to 11 p.m. for live phone calls, but that can be expanded if the volumes go up. We don't see a lot of volume, so we jump down our phone lines, but the chat and emails are available. This was, it's all available in our platform. You can access it through the app or through the web. And we have flexibility because we have been instructed to expand upon this. So hopefully that gives you a little color condition here on this. Excellent. So, John, do you want to just finish off with some screenshots you have, and then come with Martin? I've just got one final slide after this, and this is just a very sort of brief idea of some of the emails I mentioned. We have system emails. So obviously, like any other commercial site, we have marketing emails, but we have system emails, and these are purely informing you about essential points that have happened on your account. So the first one is the welcome email. So as soon as your account is created, we send you this welcome email. There are things we ask to do such as verify your email address by clicking your link, and then we mark that in our back office as being a verified email. It's one of our security procedures. We do the same with phone number, and depending on the jurisdiction, we also use third party tools for sending out OTP codes and things like that to verify phone numbers. If a balance changes an account, we can configure it so you automatically get an email saying your balance has changed, again, another security precaution, and that's required in the state of New Jersey actually. So, yeah, we have all of these keeping you informed at every step procedures to make sure that players are aware if there's activity in their account, or we need them to action something. Thank you. Excellent. Any other questions that you have before we move to the next part of the demonstration? Okay, let's move to the next part. But before we do that, I know there was a question, Madam Chair, that was brought up with the gender piece that we have in our registration, and Commissioner O'Brien also had the question. So we have Michael Saunders, who is our product owner for everything registration to OSU. So Michael, do you want to give a quick update on what we're doing there, just so the commission is aware? Yeah, hi, Adi. Hello, everybody. I'm Michael Saunders. I'm S. V. Peer, product as Adi mentioned. The gender field will be removed from the website within the next two weeks. It's been something we've been working on, and it's a legacy hangover from the website in the UK, but that will disappear in the next two weeks. Thank you. Excellent. So let's move to Martin next. Hi, guys. I'm Martin. I'm product owner here at Bali's part of the Enterprise team, which is responsible for our product rollout in new jurisdictions and ventures across North America. I'll be taking you through the returning journey for Payton with an existing account with us, and I'll hand over to Chris to go over the product features for our sports offering. So when Payton returns to us, they can have the option to use their face or touch ID, depending on the device they use, or they can use a multi-factor authentication process that is configurable based on the business desires at a specific jurisdiction. So we can not only ask them for their password, but when they come back, we can ask Payton to provide their zip code, date of birth, plus four digits of SSN. It's fully configurable. If a Payton fails to verify their email with us, they'll be prompted multiple times in their onboarding journey to do so, and every time they return. Should they happen to forget their password, they will be prompted to complete a multi-factor authentication process before they receive that link. So we can again can configure all the information we require from them before we send that link back so they can retrieve the account, or they can reach out to customer support who went through the verification process with them if their access to the existing communication channels is no longer available. For example, if a Payton loses their device, we'll no longer have access to their email. If we can click on the video for a very short preview of how that process looks. So keep in mind this is a part of the Apple security feature. You won't see the keyboard and the password being typed, the keyboard and password are there. Once the Payton logs in, they navigate it to the home page and they've been told that their email has not been verified and they need to do so. You can also see that we have logged in automatically with Face ID, if that's available on the device, and also the option to save the password once you log back in. Moving to the next slide with all the sports product features, I'll pass on to Chris to go over our sports product offering. Thanks Martin. Good morning everyone. So my name is Chris Benstead. So I'm director of partnership on the sports team and we design and build the front end sports book product experiences. I was thinking actually it might be easier if I share my screen and then I can pause the video in case anyone wants to see anything. So if you give me one quick second. Okay. Can everybody see my screen? Okay. Yep. Great. Okay. So we will start this video. If anyone wants to ask any questions, by all means, please just shout out and I'll stop. So we start off and this is an example of a logged in customer landing by default on the home page. So if we look at the home page very briefly, we've got the wallet balance at the top, links off to account navigation. Under there we also have a lot of configurable effect. I'll just scroll back a little bit. We've got a lot of content manageable navigation. So we've got quick links, which will take users off to various parts of the site. So if we want to push users to NFL, to college basketball tennis, for example, we can do that. Below that we have promotional banners, again fully content manageable. And below that we've got a featured section so we can promote content to customers that we specifically want in a timely manner. Next we've got live so we can highlight all of our live content. So the first thing that's going to happen is we're going to do an example of placing a quick bet. So that is clicking on one selection, adding it to our quick bet slip. So this quick bet slip activates when we've got a single selection. In this example, we've used the quick state so quick state $10 and hit place bet. So we've placed a bet within two clicks in this example. If we add any more selections, it opens up all that slip, which we'll show you an example of in a moment. So we show the quick bet confirmation to the customer balance is updated, and we show them all the details about the bet that's been placed. Customers at this point can read that selection to the bet slip if they want to continue building that bet or we can exit it. So from here, what we're going to do is go to live tennis. So we've gone to our live section. We're choosing a live tennis match. This tennis match, just before we pause it for a second, does have live streaming. So we'll show that now. So the customer can watch the live streaming, interact with it in a few different ways. While it's sideways, obviously my phone was sideways when I was recording that customer. That's fine. We've got full picture in picture. So the customer can move the video component around the page, still continue to watch the sports and place bets at the same time. So in this example, again, we'll place another quick bet on in play tennis whilst watching tennis. So for any fixtures where we don't have live streaming support, we also have a full match tracker and stats. So I think next we go to table tennis. So yeah, we've gone to our live section, gone to table tennis. And here you can see we've got the full match tracker. So customers can still follow the match along in real time and view all the stats. Okay. Finally, what we're going to do is go to our NFL page. So we've got a few NFL fixtures that we can do, look at. We're going to place a parlay. So at this point, we've hit our first selection, we've opened our quick bet. What we're going to do next, our next selection at this point, we're going to be using the full bet slip. You can see at the bottom, we've got a bet slip preview tells you how many valid selections we've got in there or how many valid legs we've got in there. By default, we know we've got multiple legs. So we're probably going to be placing a parlay. So we show customers predicted returns based on the default $10 stake. If they've already populated that stake in there, we'll be showing them what that parlay value will be. Okay. So now by default, we open the full bet slip, we move over to the parlay tab and we can place our parlay bet. This time, we're manually entering the stake value. We've got the returns updated in real time and the bet's being placed. Here, we've got the full bet confirmation page that's shown off the back of a full bet slip where we can see all of the legs placed on the parlay. At this point, slight differences. We can also bounce over to my bet so we can start tracking those bets straight away. Can I interrupt, Madam Chair, for a moment? Yes. Just a curiosity. So as I'm putting my bets together, it's taking time for me to put these bets together. If a line should change within that timeframe, am I getting the line that I bet on or is it changing real time as the betting slips being put together? So as soon as you start adding selections to the actual bet slip, any sort of line changes or price changes are going to get highlighted to the customer. At that point, the customer has a number of options. They can either reject those new prices or those new line values. We've got options to choose better odds, better values, or accept dual changes. Thank you, Madam Chair. Thank you, Christian. Any more at this stage? Okay. So the next thing that we're going to do is just jump back to live tennis for a moment. So at this point, what we just wanted to show is placing another bet this time with a free bet. So whilst this is happening, I was actually giving myself a free bet in the background. So you can see here with our stake value, we've got a free bet piece of UI. So as soon as we tap on that wager field, that's going to trigger displaying all the free bets that we've got. So in this example, if we've got several bets with different values, we can scroll through those, choose the ones that we want to place, apply it as the stake to that bet. You can also see there's starting to be changes. So in that call to action at the bottom, we've got accept changes and place bet. Okay, that bet is successfully placed. So the next thing we're going to do is jump over to my bets. Okay, starting off, we've got our open bets. So in here, you can see all the bets are placed recently. Anywhere, we've got cash out opportunities that's been displayed in the potential cash out returns. Next to it, we have all of our settled bets. I had a pretty good morning. You can see the ones that have won, ones that would not won. Just jumping back to the open bets, what we're going to do is cash out on a bet that we placed previously. So we're going to choose that parlay that we just placed, hitting cash out, we've cashed out straight away. And then we can go to the settled bets. We can see that cashed out bet. And we can actually expand that parlay. We can go in and have a look at all the details of every leg for that parlay. And that is about it for the walkthrough of the sports product. We've got any questions on that? In that case, can you probably hand back to Adi? Thank you, Chris. Madam Chair and Commissioners, this is the end of our demonstration. And so we're here for any questions that you may have, or any further information that wasn't covered that you may want to cover with us. Thank you very much. Commissioners, if you have any particular questions to follow up on the demonstration or presentation, otherwise we'll proceed with our in-house experts. Okay. Then turning to our agenda for today, we're now at 4B. So there'll be a presentation analysis relevant to the review and evaluation of your application. And we're going to start with the technical components. And we have GLI, who has been assisting us. I know that you're all familiar with GLI, but I'd like to give them a little shout-out. They're the first to write and set gaming technical standards, which are now considered to be the industry benchmark worldwide. GLI has continuously responded to the industry by innovating new standards and testing, allowing regulators to feel confident that they are providing a safe, responsible method of revenue generation for their stakeholders and preservation of integrities. And we are fortunate GLI has been assisting us during our process of evaluating applications for sports wagering. So good morning, Joe. I never know if you'll have a colleague joining you, but I'll let you introduce yourself and we look forward to hearing from you. I think it's just me today, but all good. No job. No job. Very happy to see you. Thank you very much. Thanks for having us, Madam Chair and members of the commission. My name is Joe Sabana, Director of Client Solutions for GLI. I'll give an overview of the submittal certification verification process regarding mobile applications and other digital platforms that will be approved by the commission. The submittal preparation includes the following. If the platform is one we're familiar with, in this case, Valley's Interactive, it is, a modification list from the last submission to one or more U.S. jurisdictions will be requested and reviewed to set the project plan for Massachusetts, including any changes to the platform and all specific mass rules and regulations. If the product is new to the lab, we will review the technology architecture documentation, which is complete, comprehensive and technically accurate description and explanations for charging systems, which includes all a description of all hardware devices and virtual servers, all server and client software modules, including the software versions, a layout of all network communications between various software and hardware modules, an explanation of all third party integrated systems. Post the technical documentation review, the critical files regarding compliance will be identified and documented. Then a complete project plan is put in place, taking into account the unique architecture and design of the platform and the specific MGC rules and regulations. The lab will run a supervised compilation of those source files, the signature of those files, and the compilation steps in the signatures of the compiled code. Once complete, the source code can be submitted for testing in a locked down environment. GLI will review the player account management platform known as the PAM for registration, age, identification verification, account controls, payments, reporting, responsible gaming controls, required disclosures in geolocation. The geolocation testing commits in two parts, a field test to verify borders through sampling along the entire border while completing edge case technical tests. The field tests would also cover any restricted areas as defined by the MGC. A submersive workaround detection test will commence in the lab, included to but not limited to VPN and proxy usage, GPS spoofing, code manipulation, and man in the middle attacks. GLI will verify the sports working total if not tested previously for retail deployment or review the integration of the sports work into the PAM for events, markets, point spreads, bed acceptance, and the corresponding timestamps and logging. We will verify the enforcement of bedding limits in all edge cases, the pre-event and live data feeds, post-event bed settling and corresponding timestamps in all logging and reporting. We'll then review the change management process and procedures. After all the technical checkoffs are met, certification can be issued when GLI verifies the changes made for Massachusetts specific deployments, including source code differential and change testing for the last reviewed version. And GLI has validated the product has met all Massachusetts specific requirements. After the certifications are issued and accepted by the MGC, field verification will be conducted in conjunction with the FCC, the procedure will be finalized in upcoming weeks. During that time, the following will commence verification of the production server, including verification of all critical file signatures, review of the internal controls for procedures to operate the sportsbook, check technology for configurations such as proper setup of roles and user rate management, and potentially interview key personnel to ensure they know and will follow procedures from the internal controls. At this point, they have met the technical requirements for operations of the sportsbook and the commonwealth. This concludes our presentation's middle certification and verification process. That's it. All set. Thank you, Joe. Any questions at this time for Joe GLI? Okay. Hearing none, we'll turn now to our IEP and their presentation of the reporting suitability. And today we have Councillor Kramer. Good morning, Kathleen. How are you? Good. Thank you. Good morning. Good morning, Chair and commissioners. The IEP submitted a report regarding the preliminary suitability of Bally's interactive LLC. This applicant is seeking an untethered category three license. The IEP performed this review for preliminary suitability in accordance with the standards and criteria set forth in 205 CMR 215.01 subsection 2. As a precursor to this review, the licensing division in conjunction with the IEP performed a scoping review of the applicant under section 5B of 23N and we identified four entities and six individuals that we designated as qualifiers in connection with Bally's application. Those qualifiers are listed on pages one and two of our report. The licensing division has performed a review of the existing submission for deficiencies and there are no substantial deficiencies. There have been ongoing communication over some pieces. The applicant has been responsive and nothing significant is outstanding. As mentioned, the IEP's review was performed in accordance with the reg and the governing regulation is set forth on page three of our report. I note again that the review was for preliminary suitability and we did not perform a full suitability investigation at this time. Our team was comprised of contract investigators, including former members of the state police gaming enforcement unit, which was attorney Mike Banks and his team, as well as contract investigators from the firm of RSM. Their work was being performed with the collaboration and the oversight of the IEP. The review for preliminary suitability is summarized in our report and includes a summary of Bally's licensing status as disclosed in its application, a summary of its compliance history and other jurisdictions as disclosed in its application, and a summary of pending litigation valued at over 100,000 as disclosed in this application, a summary of open source review of the applicant and individual qualifiers, but not entity qualifiers pursuant to the reg. With respect to the RSM side, that team prepared the report that appears as exhibit one. They reviewed disclosed financial information of the applicant. In this case, their review was supplemented by financial filings of the publicly traded ultimate parent company, which was Bally's corporation as filed with the SEC. They presented financial ratios and they reviewed forecasting submissions submitted by the applicant in its general application and they summarize self-reported history of judgments. At this point, I would otherwise rest on the report and of course we have members of both teams available for any questions that the Commission may have. Questions for Councillor Kramer? I guess I would like to follow up with a couple of the matters that are noted. They're limited in scope and they only concern the state of Indiana and Arizona, but I'm wondering if it's more appropriate to discuss that in the second session. Then I have one administrative question. I don't know who will be addressing that or if it's all matters of public record or not. Yeah, this is Rob Smith, Director of Licensing. It's something we'd be happy to talk about in executive session if you wish. Okay. The question, Councillor Grosman, just really deals with the violation in terms of self-exclusion and with respect to Indiana and Arizona. I don't know if Commissioner O'Brien is meaning in or not. I had questions particularly about the Arizona in terms of if I'm not mistaken that happened as you were getting ready to launch there and there appears to have been a gap and I had some concerns and questions about how that happened and making sure it wouldn't happen again. Right, the remediation. So I'm not sure if that would put you at a competitive disadvantage. No, the remediation, we actually took care of that more than a couple months ago where we now take the self-exclusion list and create accounts whether or not the people are on that system or not. In the beginning of our operations, that procedure was not endorsed by the adog. So there is really growing pains on their part a little bit and ourselves and we have a conference set up for the 20th of January for informal summit meeting with them. So take a look after that. And it looks like Indiana there might have been a challenge there technically too but it just hadn't been corrected or you had wanted to do the corrective measure, Mr. Smith, and it just was the Arizona and you getting on the same page. Is that what I understood from the... Yeah, they were relatively minor infractions for late filings of changes in personnel. Since then we've hired two additional people that specifically work with Indiana and those... That's on the self-exclusion, Mr. Smith. The self-exclusion was... There's a strange way that they do it in Indiana where the property is only allowed to get it. The ballet interactive is not entitled to get that list so we have to get it from the property to maintain a separate database and send it to us on a weekly basis. So there's still some pain points there but it's... We've increased manual procedures to make sure that's not missing it. Okay, any follow-up questions on that, commissioners? You know, it's also of course in the application, all right. And the only other thing is I... And I'm sorry because I didn't go back and look... I don't think there was a lot of precision around the description but the issue in terms of airing, sports, wagering, commotion, was it just a little premature? Is that what happened in Indiana? Yes, our partner, Sinclair, actually put out an advertisement before we had to go live and so we self-reported that and we've made sure... Now there's a weekly meeting to ensure whatever is going to be set out by Sinclair is allowed in that particular jurisdiction so to prevent that in the future. And you have more than one media outlet, right? So that would do that work for you. So do you have those controls that you feel confident over? Yeah, we have a marketing department and senior vice president that manages that area and make sure that doesn't happen. I can get you more procedures on that, if you wish. It'll probably come clear, too, with your presentation. So thank you but IEB, of course, includes it in their report. And then this one administrative issue, Councillor Cramer, I just noticed that as you go through each of the qualifiers, typically I see the same language so it stands out to me and I look for it, but you didn't happen to include it and I think it was not because there was anything there because I can see from what has been reported. But with respect to Mr. Dundanya, you didn't include a language of review of social media affiliated with him, revealed no derogatory information. And I didn't ever want the record to suggest otherwise. Looks like there was no news media with respect to him, but is it a standard measure that you usually include with respect to each qualifier? Or was there no social media with you done with respect to him? My understanding, Chair, is that there was obviously an open source done of him and I would defer to Attorney Banks if he's on or someone from his team as to that specific language not being included. I think if there had been anything that they located at least at this point, it would have been included in the report. So the absence of it, I don't think indicates that there was derogatory information found, but I would defer to him and his team as they conducted those. That, of course, is what I assumed. I just didn't want it to be looked upon later on. And I see Councillor Hall smiling as she comes in. Yeah, that's absolutely right. Thank you, Chair, and Kathleen. And I know that Attorney Banks is listening, but he is actually tied up on another matter this morning. But that is correct. Kathleen's absolutely right. If there wasn't particular articles referenced with respect to the derogatory information then during that search, then that means that during this particular preliminary review, they did not find that information. Okay, so we'll just say it was inadvertent, but this record, there, Mr. Denanya, we've got that cleared up. Thank you so much. Thank you. Okay, I'm all set with respect to IED. So now if there are no other questions for IED, thank you, Councillor Cramer, we appreciate it, and it's nice to see you. Thank you. Okay, and now I'm going to turn to RSM. RSM is one of the leading providers of audit, tax and consulting services in the United States. RSM has been working with the Massachusetts Gaming Commission to provide insights and analyses to help the commission. And today we have, I think I saw Theresa. Good morning. Good morning. We're in the afternoon now. Not so much for you. Nice to see you, and are you today alone? I'll be presenting. Yep. Okay, well, thank you very much. You can introduce yourself so everyone knows your background, Theresa, and we'll report you before. Thank you. My name is Theresa Merlino, and I'm a principal in RSM's gaming and hospitality practice, and we appreciate the opportunity to present to the Massachusetts Gaming Commission on this untethered applicant. We understand the importance of the licensing process and the importance of these meetings, and we've accumulated a diverse team of professionals to support the efforts of this licensing exercise by the commission. As noted, I am part of our gaming and hospitality practice and have specialized in the gaming industry for over 20 years, and we have a team of gaming and financial experts on this project. As Commissioner Judd Stein had indicated, the RSM team has been asked to join the meeting and make a presentation related to certain aspects of the applications. Please note we are not presenting on all aspects of the application. Specifically, RSM has been asked to provide insights based on our experience and research into the following sections, as noted here on the slide today. Section B2D, sports wagering experience. Section C2, projected revenues, and particularly related to Massachusetts. The financial stability and integrity from G3, and any other observations that we may have identified as part of our review of these specified sections. And as instructed by the NGC, we conducted our preliminary review of these applicants in tandem with other investigations, and much of the information we reviewed and are prepared to present on today is likely confidential, including specifics around market share and these projections. We're happy to discuss those items in detail in the executive session, and we will speak in general in this public forum and answer any questions that are appropriate. So with that, today's presentation will talk a bit about some key financial ratios and metrics as well as some of the market share elements. And this information is very similar to what we did with the Tethered applicants, but have provided some visuals to help support the exercise here today. So starting with the sports betting market sizing for the state of Massachusetts, you'll note here that RSM leveraged the Deutsche Bank equity research report, as well as the truest securities equity research report as part of the development of our estimates. And these estimates will range from 83 million, you know, with truest up to at the end, 639 million over the course of five years. Given the evolving nature of the online sports wagering and the varying number of platforms and different jurisdictions, it is very difficult to estimate the ultimate composition of the marketplace. But even with these unknown elements, we would, we believe that it is safe to say that it's a very lucrative market for the United States and is one that the applicants, you know, have opportunity to help help drive tax revenue for the state of Massachusetts. So that's a context. And this is important to note that RSM's estimates based upon our research do differ a bit from the applicant in an executive session. We can highlight some of those differences for the Massachusetts gaming commission's perusal. Also just to note here that truest securities did estimate a ramp up period that Deutsche Bank did not, and many of the other applicants across the board did not have this kind of ramp up estimate that is in truest. So in some of our presentation slides, we do actually exclude this ramp up. We exclude truest from the ramp up just because it skews some of the numbers. And the applicants typically did not have that low amount. So when looking at the state of the market, one of the things that we thought would be helpful for the Massachusetts gaming commission is to understand what our research indicated. And we kind of have the high and the low for, for Deutsche Bank and then truest securities and then all the applicants, we took an average of their app of their estimates. And you'll see initially, in general, all of the applicants seem to have very close estimates or closer estimates to the, to the market research we performed. But then over time, their estimates exceed, in general, the estimates as identified through these other third party equity companies. So that does influence some of the analysis when they are doing projections related to both the GGR as well as the, the tax, tax pieces. So moving on here to the the next piece, we provided some context for the gaming commission to view some of the growth, growth estimates across the industry. Again, this is just some third party market research and different applicants provided different estimates on growth year over year. And for, for just the comparisons at RSM identified, you'll see that we're looking at growth rates between nine and 30% and then eventually turning down as the market becomes more mature. Market share information is one thing that was part of the request within the application. And so this information is taken from some of our third party research here and is really only intended to provide directional context for the gaming commission in, in estimates of current market share in other jurisdictions. And we've referenced some of these numbers verbally, but with thought that it might be helpful as we look at the untethered applicants to kind of understand the context of the market share and other jurisdictions. One thing to note is that these market shares will vary based upon the number of sportsbook allowed and how many each state in each jurisdiction will, will have differences in the number of sportsbooks. And then also one thing to note is that this includes, this chart includes iGaming, which is not allowed within the state of Massachusetts, but does provide some context for current market share from various platforms. Teresa, before you move on, actually, this is Commissioner Bryan. Bar stool pen is in there twice. Can you differentiate those for me? I'll have to look as to why they split these up in two different pieces. My one's two and one's four. I'll look and see because this is a third party source and I'll have to look at the report, but that's a good point and a good catch. I would assume it's based somehow on their, their licensing in the different states and one might be iGaming and one might be sports. Sports is my, is my guess. I don't know though. Bar stool would not be associated with iGaming traditionally. Right. All right. Yeah, but very, very, what we'll look into that and get back to you for, particularly for the next presentation and via email. The market share, what we did, so this last chart here is kind of like a period over period. And so you'll see it's June 20, June 2021 through June 2022. And you can kind of see some of the trend analysis and the trends in different in different applicants and not applicants necessarily, but parties within the marketplace. And this slide, it's the same, but it's just for the most current data, which is June of 2022. And you can see the applicants as noted, or not the applicants, but the individuals involved with the industry. Again, this is just for context for the, the Massachusetts Gaming Commission as we talk through the applicant specifics going forward and where RSM is, is gathering this information. And another element to note as it relates to the revenue calculations as the whole percentage is. And so this is the trending whole percentage of all U.S. states with sportsbook over the last 18 months and is a trend from 2021 through 2022. And you can see there's a fairly tight range, but it does, excuse me, it does range between eight and 12%. And we'll typically vary by season and by the nature of the games and just how some of the games will play and how close the books are in estimating those pieces. Also, another element is the maturity of the market. So players that are maybe new to gaming may make different types of wagers than a mature market where there's a more sophisticated player. So this is just, again, context. What I would like to note and what we'll speak to here, the applicant did not provide the whole percentages in the application that they were estimating. So we won't have anything specific on that piece. And then the last slide here as we talk about whole percentages for the applicant or in general in the marketplace is you're going to note that the number of sportsbooks generally seems to indicate a lower whole percentage in the marketplace in general. And so what this can mean for the commonwealth is that it does appear that in more competitive markets, the whole percentage is lower, which is often to the benefit of the players. And in most cases, it's to the benefit of the players because that increased competition based upon the estimates of the gaming commission and the available licenses, you're generally going to be falling in in this kind of 12th Pennsylvania, Michigan kind of area, which we would say are very similar markets in general to the Massachusetts market. And so this is just kind of a comparison of number of books to the whole percentage. So with this, I'm going to speak specifically to the overview with the understanding that we will go into executive session to talk about the specifics. So the applicant is on is the online gaming arm of the parent company ballast corporation as noted in the introduction, a publicly traded company. Our history was only provided at the parent company level, not at the applicant level. However, we were provided comprehensive view of project operations within the commonwealth from 2023 to 2027. The applicant is currently operating in Arizona, New York, Virginia. We reviewed the applicant's revenue projection information and compared it to the market analysis as previewed here with Deutsche Bank and truest securities research companies, both issued in October of 2022. For the revenue projection section, the executive session is likely warranted, as we will discuss the specifics of Bally's estimated market share. The applicant's forecast methodology started first with the estimated total addressable market or available market for sports wagering in Massachusetts followed by their estimates of the relative market share of the gross gaming revenue. And we will note that the projected total addressable market in the commonwealth estimated by Bally's is greater than the high range found in our independent research. That isn't to say that the applicant's projections are wrong, but rather may be aggressive or they may have other perspective on the available market than the research that we performed. As previously shared, there is uncertainty in the ultimate market of sports wagering in Massachusetts and it is hard to estimate this relatively new product offering as you look to introduce a new product. Handle and hold percentage were not provided and so we were not able to estimate those or compare those or evaluate whether or not those elements may have impacted their market share aspects. So that's kind of an overview of market share which we can go to more detail in the public in the executive session with specific numbers. Utilizing the publicly available SEC filings, it's apparent that Bally's corporation is sufficiently capitalized as of its most recently quarterly SEC filing. As of September 30th, there are approximately 716 million in available liquidity comprising of 171 million in cash on hand and 545 million in availability under the revolving credit facilities. There are no major debt maturities in the next 12 months, but there is a $4.2 billion total debt balance. It is ultimately up to the applicant's parent on how to allocate its financial resources. If faced with future losses, there is no guarantee the applicant will continue at sports wagering operations in Massachusetts, but it has the current financial resources to fund operations in the commonwealth if it so desires. RSM will remain on the line to answer any questions that commission may have about this presentation or our written submission. And if there are further specifics on numbers, we'll be happy to talk about those in the executive session. Thank you, Teresa. If you could pull down the, that's great. Thank you. Commissioners, questions for Teresa? Commissioner Bryan? I guess my general question to you, Teresa, is the lack of handle information typical when you're asked to do these analysis? Yeah, for the for the applicant pool handle was the least common information provided. And however, most of the applicants did provide a whole percentage estimate. And so typically what we would see is if I know what my market share is and I know what my GGR is and I know what my handle is, I can kind of back in or know what my market share GGR and whole percentage, then I can back into the handle and infer the handle. So the whole percentage and I don't I don't know what the what they're estimating the whole percentage to be. Okay, thanks. Perhaps we should follow up then, Commissioner Bryan, with, and I'm not sure Mr. DeGaña or another representative as to why that wasn't provided. And if that needs to be addressed in the executive session. Yeah, we will take a look Madam Chair and we will be able to provide that. It should be in our models. Okay, measures do you would you like to hear from our in the executive session? I would and I have one more general question before we go into that which is the the reference to truest having a ramp up here at Teresa were most didn't. I would think the ramp up would be a relevant analysis. Do you have any expertise on why a lot of these third parties don't use a ramp up period in their estimates? I can give perspective but my I wasn't obviously part of the equity research for truest but my estimate is that they did not believe that the state of Massachusetts would get gaming live by March Madness. So based upon what I saw in their in their estimate, I think that they estimated that you'd be kind of go live by the NFL season in the fall. It looks to me like it's just just a quarterly like a quarter or a partial year. While, while if you guys can get gaming stood up in a timely manner, their estimate would have been would have been higher. Okay, great. Thank you. Yeah. Other questions and Commissioner O'Brien then did you join me in thinking that we should get a complete record from RSF? Yes. Any further discussion needed? I see Commissioner Maynard saying no for the discussion needed. Commissioner Hill, Commissioner Scanner. I would like the discussion and executive session really, you know, for consistency sake more than anything. Agreed. Yeah, agreed. Thank you. So we'll put that on our executive session list. Thank you. And thank you to be some sounds so we're all set. We'll see you later. Thank you. Commissioners, we are now at the point in our agenda where we'll be turning to our evaluation. Again, we're just getting my paper to organize where we would start to go through the application section by section for the slightly different lens, but pretty consistent with what we're familiar with on the past review. Does it make sense to have a lunch break at this time, get our notes together, and then start off with our review? I think that would be appropriate, Madam Chair. Okay. Sounds like we're all good. All right. Then we will just pause. It's 20 minutes. How about one 10? We can be half an hour. Okay. Thank you. And thank you to the applicant. Thank you very much. Thank you. I'm sorry. Yeah, we're going now. I just was talking to Karen. She was updating me on something. Yeah, sorry, Chair. I heard you say, okay, I didn't realize you were talking to someone. You were off. Okay, somebody else. Business was ongoing over breaks. So my apologies for being a couple minutes late here. So this is a reconvening of Massachusetts Gaming Commission public meeting number 419. We've had a presentation by one of our applicants, but before we can proceed, because we're holding this virtually, I need to do a little call. So good afternoon, Commissioner O'Brien. Good afternoon. I'm here. Good afternoon. Commissioner Hill. Hello. I'm here. Great. Good afternoon, Commissioner Skinner. Good afternoon. Good afternoon, Commissioner Maynard. Good afternoon. Great. So we look at starting again. Thank you to Bali's for its presentation and demonstration and also to our three internal experts and commissioners. We're just going to be going through this process now for the first time, but it's very familiar. And again, we had outlined in our earlier meet portion of our meeting this morning, this process, as well as meeting on it last week after the holiday or during the holiday break. But just to make sure we have the framework in mind, we're going to begin our overall evaluation of the application submitted by Goddus Interactive LLC. And as I just indicated, we're going to walk through that application as we have done so with our other applicants for both category one and tethered category three applicants. So we will consider whether the applicant's response and proposal meets expectations, exceeds expectations or fails to meet expectations. In this context, though, since we have to consider the applications holistically at the conclusion of this individual review, and we've indicated that's likely to happen on January 18th and 19th, this initial assessment as to whether the expectations have been met will be preliminary in nature, just to see whether we had a general consensus. And that assessment is subject to modification once we've had a chance to move through our evaluations of each application and the broader landscape is in greater focus. So as part of this process again, as we have done prior, we should consider any conditions that we might like to see in the event that a license is awarded to this applicant. And I want to remind commissioners what we brought up earlier in this morning was that at that time, at any time, we would need one, one or more commissioners may seek supplemental information from the applicant relative to any component of their application. And I think I can also add that it doesn't have to necessarily be a deficiency if you would just like to get expanded information. We want to welcome your request for that because I think it only isn't really puts the applicant in better light. So at the end of that process, as I've mentioned on about the 18th and 19th, we will then, I'm sorry, my apologies, again is at the end of the process on or about the 18th and 19th, where we would identify any variation between the applicant's proposal in this category as it relates to the others. So now this is going to be very familiar and we will pause after each section review and I'll take the temperature of the commission and see what we have for a consensus. So turning to section B, do we have any comments or questions with respect to Valley's question B? Madam Chair, I don't necessarily have a question, but I was very interested. I think it was in B1. When you were talking about different types of betting like exotic parlays, which is something we haven't talked about in the past, if bets, when I was first reading about if bets, I was wondering if that could or does have anything to do with RG. But as I read through it a little bit more and understand what an if bet is, I don't think it really has anything to do with RG, but for those of us on the commission who are relatively new to this industry, could somebody just briefly explain what an exotic parlay is and what an if bet is? Because I think it's important that the commission understand what those bets are and how they're used in your platform. Sure, I'm happy to do so, but Commissioner Hill, if it's okay, I can also have our product team members join that can respond to this in detail. So let me just have them join and give a more in depth overview. That's all right with the chair. Oh, that's fine. And should we pause because you're tracking that individual down? Do we think that would be okay? That's fine. We'll put that in the parking lot for now and look forward to the response and I think it's a very helpful question Commissioner Hill. Other questions on section B? I had a question on B3. I think it's page 59 in the PDF, second page of B3. You talk about time limits on the app in terms of somebody, it's almost like a cooling off, but you can do it by hours. Basically, almost like what you would do to kids. You've been on Roblox for X hours today, so you're done. But it says available on iCasino products. Is that only available on iCasino versus a sports wagering app? It's part of the PAN. It's our player account management system, which is the same PAN that can be used for iCasino. Okay, because I was curious because it says available on iCasino, but it's available on both. Yeah, part of what happened just so everyone is clear is when we merged with GameSys, which was the big transaction that we did, GameSys was iCasino company in their PAN was tied to iCasino products and so a lot of those tools were then integrated with our sports training engine, so it took us a good part of a year to integrate our sports training technology into that PAN, so we may have to update some of that information. Okay, yeah. Okay, so that just needs to be updated, I guess. All right, thanks. Commissioners, while we're looking at our notes, I have one or two questions, but I want to defer to Commissioner Skinner, Commissioner Maynard first. Okay. So, I noted, and I think I've got this right, that it looks like your practice is that if Bolly's Interactive receives a report of suspicious activity concerning patrons, Bolly's may suspend wagering on events related to the report, but will not cancel related event wagers until receiving written approval from the Commission. So, do I understand that that's a practice that's right? And then a follow-up, it sounded as though Bolly's would only would report when there is an unapproved event, if they haven't been able to refund, and I would imagine that we would want to hear of an unapproved event being inadvertently offered or whatever, regardless of whether or not we could refund patrons. So, two part question. It is our practice to report anything that we believe wasn't per the events guideline or the guidelines said by the Commission or the State. So, it shouldn't be the case that we only report when there is not a refund possibility. Okay. And so, that just may have been framed in a written fashion, because I didn't imagine that you would not disclose to us. Okay. That's helpful. And then I had a B3-1 question, but again, Commissioner Skinner, Commissioner Hill, Commissioner Maynard, Commissioner Ryan. This one, it says, and I thought this was interesting, and I, you did turn a little bit to the data issue in your demonstration, but that the virtue of being, the true being data results in deposit recommendations and recommends a deposit amount that is based on the player's historical patterns. And I guess I wanted, I wondered how that worked. And do you take into consideration RG? Because, yeah. Yeah. So, we absolutely take into consideration any RG, what it's done, or what it's used for predominantly is to ease the experience. So, if you remember when we were doing the demonstration, there were different blocks, 10, 25, 1500 that were available to choose from to make a wager, right? So, or you could have entered your own amount that you want to wager. Those blocks are just to help with speed and to help with player experience. What is it tailored to the individual player's experience and historical wins? Yeah. So, typically, you know, we start with default numbers. And over time, as we have more intelligence on the players, it will show different numbers. So, initially, it's the same standard numbers when we don't have any data on players. And then eventually we have the capability of making personalized. And how does the RG factor technologically get integrated into that? Let me see if Mark Bort is here, who can speak to her. Jonathan, if you can speak to her. Sorry, ma'am, Chair, we'll have a team. We weren't sure we thought it was going to be more of an executive session. So, just myself and Rob Smith joined by getting the truth back in. So, our apologies for not. Oh, no, this is probably a lot of our questions now. We hope will be for the public consumption. But those that we we assess to be more appropriate legally for executive session will move to the end. So, if that's helpful to you, Mr. Dania. Yeah, that would be helpful. So, we have some individuals who are able to join and I know Commissioner Hill had a question on if that's an exotic parlay. That's okay. We could perhaps go there and then as individuals join, we can respond to the specifics. Thank you. So, Jay, do you want to talk about if that's our exotic parlays and how those work? Commissioner Hill was asking how that would work and just a general understanding for other commissioners. Yeah. So, the IFPET that we have in the system, which is not activated as of yet, but it's a bet where it allows the player to place a number of wagers with a smaller bank role than would have been required had he made the bets all at once across the board. So, what an IFPET is, is you place, let's call it, for all intents and purposes for this example, we'll make every bet even money. So, you bet $100 on, let's say, three or four games that will go simultaneously that you would like to bet individually, but you don't have the bank role to do that. So, you say, you IFPET it by saying, I want the bills and whoever you designate as the first team, they must cover the wager for the bet to continue on. So, it's sort of a modified parlay, but they pay out as straight bets. So, you put $100 on the bills and if the bills covered, then that money goes, the $100 that you won goes back into your bank and the other $100 IFS over, so the bet is, if bills win, then go to the Rams. And then if the Rams win, then you take another $100 that goes into your bank because you're betting $100 again, and then that further $100 bet rolls on to your third IF if you have such a third IF and so on and so forth. So, you could IF it up to, you know, six, seven, eight teams, but so soon as one team loses though, that's when the chain stops. So, if the bills win, you collect your $100 back in winnings, and then your original bet rolls on to the next bet. And if that one wins, so on and so forth, and then as soon as you lose, that $100 wager loses, but if you've won two or three, you've banked those winnings already. Does that explain it? Is that a clear picture? Clear picture, and actually that was a very nice presentation to explain it. I just thought it might be helpful for some other of us who haven't been in this industry as long as others to understand, because this was the first time that I've actually seen it in an application. And I actually didn't know that it wasn't in play yet. I thought it was part of your platform now, so I'm glad to hear that. And then exotic parlays, again, we all know what a parlay is, and I saw the word exotic, and I thought it would be helpful to my fellow commissioners to explain what an exotic parlay is compared to a regular parlay. Yeah, so we struggled. I'm sorry, Commissioner Hill, do you mind if I ask a follow-up question on the if-bets before we move to the exotic? Okay, thank you. Jay, hi. I'm just wondering, is that option of if-bets? Is that more of a convenience to the player, or is it a more lucrative bet in terms of the return on a win? No, so it's actually a convenience, but it's because now it allows you to make several straight bets with a smaller bank roll, right? So if you only have $100 in your account and you like three or four games, but obviously putting in a three or a fourteen parlay is a much tougher wager for the player. It's obviously a better wager for the house because of the pure mathematics behind it, whereas now we're allowing the player to utilize their bank roll in a more conservative player-friendly fashion with the if-bet because we're allowing them to... The main thing of it is for simultaneous games, right? If a player had the benefit of time, right? The bill's game goes at 10 a.m., and I'm sorry, I'm in the Pacific time frame, and then the next game goes at one, and then the next game goes at five. Suppose he liked all three games that had that time benefit. In theory, he would just bet the first game, it would result great out. He would take his winnings and then take half the winning and put it on the next game, but when they're all going at the same time, it requires a bigger bank roll to be able to cover those three spots, whereas now we're allowing them to bet the first one, the second one, and the third one all at the same time, but they have to prioritize sort of their... I don't know if you're familiar, it just happened, the bull season just ended, and there are some pools in the offices where you not only pick the game, but you provide what they call confidence points to it. If you say I'm really confident that this team will win, that'll be my highest point totals for that. That's sort of like this. I'm very confident in this. I think it'll win. At least I get my money back if my first high confidence pick wins, then it goes to my second one, and so on and so forth. Your lowest confidence pick would be the last selection that you put on the if-bet slope. It's really a good way for the players to be able to play more and churn more with a relatively small bank roll. They're betting into a more player-friendly margin. I'm sorry I missed that. You did say that at the beginning, that it allows a player to wager with less than what would typically be required for such a bet, so thank you. We're not letting the wager for less, we're just allowing that bet to sort of travel back in time, because the games are all playing at the same time. I understand that just maybe not able to articulate it. Yeah, okay, sure. And then the exotic parlays, if you could just touch upon that. Yeah, sure. So exotic parlays, progressive parlays, we've had different naming conventions, and the progressive naming convention sometimes throws people off because they feel like it's like a megabucks or a powerball kind of thing. And realistically, again, it's a parlay product that is a little bit more player-friendly, because in everyone understands that when you're replacing a parlay, that all selections in that parlay must hit in order for that parlay to pay out, whereas this exotic parlay, progressive parlay selection, we allow a pay chart for selecting parlays that don't hit all the legs. So if you bet a 10 team parlay, we have a 9 and an 8 leg payout if you don't hit all 10. So it's a consolation parlay rather than just a straight parlay. So it's a little bit more friendly. It returns funds to the players for not being 100% perfect. Madam Chair, thank you, Jay. Madam Chair, the reason I brought this up is in my research, what I found to be interesting is exotic parlays are used more when it comes to politics and entertainment. However, during the Super Bowl, exotic parlays are used very, very often. And although for this year purposes, it has nothing to do with this particular petition before us, but with what we're trying to do with others, it could come into play. And I just wanted to make sure we were educated about it should the issue come up at the Super Bowl. So thank you, Madam Chair, for allowing me to kind of veer off a little bit and get educated. You were. That's very good. It's actually a very good question and a good one. We want to understand how it's going to be available. And there are many Super Bowls that come from the future. So to add one more, I don't know if this is of value, but there's another terminology out there, Round Robin parlays, which is, I don't know if it's a terminology, if you want me to explain if you guys are all comfortable with it or not, because our system has capabilities of doing that as well. And essentially around Robin is you're picking a group of teams like let's just say four teams, for example. And you say, I want to parlay them, but, you know, I want to parlay them, not all four together in one parlay. I like all four teams. So I'm going to do the three teams grouped out of those four. So every possible combination of three team parlays out of those four selections will be placed. And then you can also go down to two team selections. So another combination, which would be a six. So there would be six, two teamers in that group of four. There would be four, three teamers in that group of four. And then there would be a one, what we call an all, which is a 14 parlay. So you are basically making 11 parlay wagers. And again, if you're not 100%, if you hit three out of four, you're going to hit on a combination of bets that will return to you probably a little bit more than what your stake is, depending on obviously the specific odds of the selections. But it's a sort of insurance policy parlay bet. And then there's other ones too that are like a key parlay where you're keying one selection to three or four other teams that you take the one selection has to win. And then once that wins, it keys into a two teamer that goes to another selection and then it keys into another selection. That's another two teamer. But the core selection, the key has to win. So there's a few different types of parlays which are out there in the industry, yes. So Madam Chia, I'll just ask this last question and then I'll get away from this. So if bets are not in play yet on your platform, exotic parlays and other such parlays, are they currently on your platform and would be if you were to be granted this license or is that something in the future? Yes. Well, we have round robin parlays in there and the progressive parlays is not supported on 2.0 as we speak right now, but it's really just a pay table, right? It's a configuration change that we could drop in. It's on our 1.0 platform. I'm not sure that it's supported on the 2.0 yet, but it's probably on the roadmap. And again, it's taking out one pay table and putting in a different pay table. Jay, that was very helpful and you did an excellent job of explaining it. Thank you. Yeah, sorry for my tardiness. I was trying to get back on. I threw a curveball for a question today, Jay, so no. Okay, other questions? I'm not sure if this comes under section B, but I'm just going to ask it anyway. I think this came up in the presentation or in the demonstration, but that and you've have done an excellent job conveying to us that your app and platform has the ability to be very scalable and flexible and responsive. And so you indicated that there was that you can provide real time marketing opportunities. And I'm appreciating that that's probably offers all the flexibility that you've stressed. But again, this commission or at least, I think several of us have expressed over the last several months a little concern, a big concern about the intensity of marketing and the frequency of marketing efforts. So I'm wondering if you could tell me a little bit more about that real time marketing opportunity and how you might address our concern. Absolutely. So why don't we call on Mark Bourge? You can talk a little bit, Madam Chair, on how the truly set up because that will give you some of the data points that we look at. So when we have real time triggers in our platform, a lot of it is driven with reengagement and retention. And all of those are customizable to how we want to set those sort of promos up. So Mark, if you want to just walk through a little bit on how we look at responsible gaming and how we truly and handles all of the responsible gaming flags that we have for a quarter and the score is taken for every quarter, that would be super helpful. You're on me with Mark. Sorry. Yes. So the score we do have machine learning models, which do perform like RG predictions, right? So we determine whether a player will be establishing like problem gambling behaviors. And that model will provide an output like any other model within Betruvian. That model is then shared with the various systems, including the marketing systems, including the operational systems, including the actual operational teams, which do reach out to the actual players with the proper measures and communications. And so it's a combination of automated processes versus like manual processes, but in its core, this problem gambling prediction models will give us an early indication of who's going to be developing those gambling behaviors. And this is, as I said, similar to all the other models that were, which predicts future behaviors around our players. And so that relates to the deposit setting where you can assist mechanically, technically on setting the deposit. And it automatically takes into that RG, the artificial intelligence. Correct. So when the operational teams are assisting our members to set their, to guide them to set their deposit limits, one of the reference points is going to be the output of this RG model. Does it take into consideration individuals' income? No. No. First, are you coming with me? No, no. It's just based on the RG factor. It's a different game in patterns, right? The time they log in, the time they play, you know, like, so there could be some patterns that we are aware of. Okay. And then, yes. I'm so sorry to join in. I can probably offer some updates on some of the technology that we use in the UK around player protection and responsible gaming deposit limits, and indeed affordability income, if you would like me to explain. So in the UK, we've developed technology where the operator has the ability to set a set limit, deposit limit every player behind the scenes. Okay. So players can choose their own limit on the front end of the website. But behind the scenes, we have a capability where we can set any limit to any player based on any third party information that we hold or we obtain. And we are obtaining information in the UK about players' income. So technically, we have the ability to set stand-in limits behind the scenes for players, which we use in the UK. So that we do have the capability in the system should that be required. So we are obtaining income information. And from the income, we are setting limits based on what we believe a sensible amount for the player to spend. So affordability assessment. That's very helpful. Madam Chair, I just want to explain and clarify one big thing. So as I mentioned earlier, that our platform is the battle-tested platform that we have from Gamesys, that has been in the UK for over a decade. We have a lot of these capabilities, not every capability is live in the US. Because if there are no regulations that require as such, we don't turn on every single feature. But as Michael and Mark were explaining, we have these in the platform. So it's the platform. So technologically speaking, it's all there. And we can turn those on as needed. Mr. Sardis, can I just follow up? In the UK, you have the technology. And I'm assuming then that some regulators are imposing that, asking that you apply that technology. And do you disclose it to players? So in the UK, we obtain lots of information from third parties about our players behind the scenes. So it's a risk assessment based on affordability information. Based on the information we receive, we set limits. So for example, if a player was financially stressed, we may even block them from playing with us, or we may set a $100 equivalent limit on their account until they can prove they are able to play at a certain level. So we have this multi-jurisdictional platform, which adheres to lots of different global responsible gaming play protection measures. And it's all feature-driven. So they can be turned on in any jurisdiction. So it's quite a powerful toolset that we have. And it's all designed to protect the player. We want to empower the player to remain in control of the player all times, of course. But we stand in behind the scenes, and we can limit play if we believe there's excessive gambling or levels of play. Or indeed, we may need to interact or intervene with the customer. And it's all driven, as Mark was explaining, by the data models that we've got, so we can see exactly what the behavior of the player is. And we can use that information based on what information we have on the player. So what they do for a living, what their employment status is, what their income is, how old they are. So it's quite a rich form of data that we use in our play protection measures. If I may add something quickly to what Michael just said, it is a configurable setup, right? And it's not a one-size-fits-all, right? So each model, we don't build one model for every jurisdiction, right? Because the player preferences are totally different across different jurisdictions, right? So for one jurisdiction, we might have an energy model that factors in the affordability data points for their jurisdiction. It might be excluding that affordability, because we don't have it for their jurisdiction. So it's pretty complex, it's pretty advanced, right? But it's all configurable, like Michael said, you know, we can enable according to that specific jurisdiction. And I appreciate that, Mr. Ford. And I appreciate Mr. Saunders saying at the beginning of his last set of comments that, you know, that you understand that the best route is to empower the player to make the choices that are best for them. But this is a technology that you're developing, so really the dire circumstances where that empowerment just hasn't occurred. So I heard that qualifier, I appreciate it. That's very interesting, very helpful. And then in terms of just so that I may not have heard clearly, in terms of the real-time marketing, what does that look like, Mr. Ford? Is it push-down notifications that come up, or what does it look like? So we do have, like, different, as I said, like, different capabilities across different jurisdictions. And we do have real-time events, right, which are analyzing different gameplay and having players reaching their levels, we release rewards accordingly. All right, that was an event for our marketing tools that interacts through one of the different multi-channel campaign management notification channels through either email, through either push notification. So it's a combination. Follow-up questions on either. I guess my only follow-up for myself is, do you have your own limit on the number of real-time marketing you would make during the course of a day of a patron? Do you impose your own limits? Can you repeat the question, please? For the real-time marketing notifications, do you impose a limit on your own practice as a matter of best practice? In other words, is it up to six for someone like myself, and then maybe up to 15 for perhaps Commissioner O'Brien, or is it a standard, or do you not have any limits? Does it just happen? There are limits, right, which are managed by our marketing teams, and so we make sure that we don't flood them with communications, right, and so everything is channeled to the same, like a communication store or compensation store, right, where we monitor, you know, like what kinds, and in a holistic way, right, because we're a relatively big company, right, you have different kinds of people, different touchpoints to our customers, but all of that is funneled in, you know, like to a common database, whereby we monitor what communication is being sent, and so we have a handle on that, yes. One further update from, yeah, I'm sorry, one further update to add for Mark, as well, is in terms of the marketing, that we can serve Pacific marketing to players based on the risk score, as we call it, so if we believe somebody is demonstrating behaviours, then we will not send them marketing incentives, and we will serve them with play control messaging, for example, or as I've said before, we may even, on the back of that, terminate an account until we've obtained enough information to believe they are in control and ready to play, so it is quite sophisticated in the messaging that we can serve players based on information about the level to play and other information we hold on them, so. So Madam Chair, just to summarize a lot of what our product team and technology team members have been stating is, the platform, the way it's designed, has the data component which is under Mark, and Mark's team, and within the data component we look at lots of different data inputs and predict outcomes, which can then feed into our campaign management tool, or other tools on the player account management system. The campaign management tools can then be configured by our marketing team to set campaigns real time or after a certain frequency for us to engage with our players, so we do a fair bit of segmentation on the marketing side, and as Michael was explaining, we have risk scores and a lot of different data points that we can configure from the output of the Julian in our campaign management system. Thank you. You've spent a lot of time on my questions. I appreciate it. I want to turn it over to my fellow commissioners. If you have any other questions under Section B, see Hearing None. Thank you again for some discussion on a couple of areas for us, so thank you. So I'll take that temperature and see if we have a consensus with respect to this applicant's response on Section B. Do we find that it meets expectations? Thank you. Thank you, Commissioner Skinner. I believe they met expectations for Section B. Thank you. Commissioner Maynard. I agree. Great. Commissioner Frye. How do I? And I'm all set, so thank you. So we'll move on to Section C. Commissioner, do you have questions? The only question I have, I like the idea of recruiting, and you're very specific, which I have to say I like some of the specificity in terms of DMS, Boston Reference, and things like that. The only hesitation I have is sort of, where do you draw the line of, they can't gamble yet on the sports registering app, and then you're recruiting for the industry. So if you could maybe talk a little bit more about how you guys approach the recruiting and that zone. I mean by the time they graduate, they'll be in your legal age limit, but I'm just curious how you guys handle that conversation. Commissioner Frye, is this specific to recruiting of employees? Yes, for employees, yeah. When you were talking about the employment opportunities and the recruitment efforts, I think you referenced UMass Boston at one of the points in diversity and employment efforts. Yeah, so we are very mindful we have a policy internally of making sure that anyone that we recruit, be it through internships or full-time jobs, are of the right legal age in that respective state. So every state is different. We have our headquarters in Rhode Island that allows for people to be 18 and above, right? So we are very mindful of that and our HR team looks through those to ensure that everyone's at the right age and is putting that sort of job or environment where where they are not of any concern from regulatory standpoint or from our system point. So they would be at 21 and up in the Commonwealth? That's right. Okay, great. Yeah, and we typically, we very rarely, I would tell you in my history with the company, we very rarely have had interns as well that are under 21 join us because most of the interns who come in are senior year interns and if we have interns that come in that are, you know, sophomore or junior year and not 21, they're in backend functions of the accounting market and the sector, whether they don't have exposure to the green parks. That's typically the case. But you're saying you wouldn't do those in Massachusetts unless they were 21 and up, right? That's right, yeah. Okay, thanks. Most of our backend functions are in Rhode Island and we typically, you know, have our accounting and backend office functions there. So, but we generally as a company don't have a very big internship program anyway. So usually students that come in, come in at the senior year because they need experiential credits for graduation and majority of them, if not all of them are 21 at that point. Other questions on Section C? I know that we're anticipating some further intelligence from RSN during the second session. Commissioner Skinner. Yes, thank you, Madam Chair. And good afternoon, Mr. Dandanya. Good to see you again. Mr. Dandanya and I met very briefly in Vegas at the G2E conference. So thank you for your presentation today. I was hoping you could provide some more specific information about the employment opportunities you intend to offer within the Commonwealth. I didn't find that in the application. I apologize if I missed it. I'm working from a paper copy, but could you just elaborate exactly on what the plans are? Absolutely, Commissioner. Good to see you as well. And look, I think we as a company are all about expanding our employment space. We today hire a lot of individuals from the Commonwealth. I am a resident of the Commonwealth. By example, many of our employees at the headquarters are all residents of the Commonwealth. We don't have an office space in Massachusetts. However, we have one right across the border environment. So we will continue to expand our recruitment efforts because we do need talent. And given all the universities that are in Massachusetts, we have a very active recruiting process in general. As we expand our sports betting or online offering in the Commonwealth, we will be hiring more individuals, be it for backend or any of the technology related requirements. We have established a technology office in Rhode Island and we'll save for it. So we have now several jobs posted and more to come as we expand hiring in that office and location. So that will be both residents of Rhode Island and Massachusetts. Thank you. Would you be willing to supplement the application just with some information on what those positions are specifically and provided job description and some of the other information that's requested in section C1? Yeah, and we could pull that if someone could take that note down. We could pull all jobs that are for our locations in Warwick, et cetera, that are open to residents of Massachusetts and Rhode Island. We should be able to supplement that. Madam Chair? Yes, Misha. Thank you, Madam Chair. So one of the issues that I care a lot about is our community involvement in the companies that we are going to license. And if I can be critical, and I mean a little bit, not a lot, there wasn't a lot of information in your application in regards to community involvement, at least not in the way that I think we've seen other applications come before us. In fact, if I read this the way I think I read it, there wasn't a lot of community involvement. So I have to believe it just wasn't in the application in that you could really maybe talk about in other jurisdictions where your company is involved with the community. Because the application really doesn't talk to it as well as I had hoped it would. Yeah, Commissioner Hill, our apologies for not giving you a lot of information in the application. We are happy to provide that as a supplement because we are one of the major employers, as you know, in Rhode Island specifically. And a lot of the communities we serve are within the state and around the state, so in the union area. So we are happy to provide that. We do have a foundation, a values foundation that provides a lot of local communities. We take diversity, equity inclusion very seriously. We have a whole team behind that. In addition to this, we are also very active in providing all sorts of benefits to local communities and businesses that we work with. So we're happy to supplement a lot of that in the follow-up. I'm happy to see the supplement, but in other jurisdictions, is there anything you'd like to talk about that you've done for us today? We have a lot that we've done through the values foundation. So values foundation has money that I think we may have even covered in the application with the company pledges for a lot of local causes. If you look at just Rhode Island, which is across the border for us, we are regularly involved with the food bank with toy drives and all sorts of different initiatives. Those are all recent. All employees participate in the office and then we have a whole team that goes out and does these drives. We have races that we've done for breast cancer awareness. We have lots of different events that we do in and around the state just to increase awareness around these things. We were a part of the Pride March in Rhode Island and it's something that the company takes very seriously. We have a whole team in the UK as well that supports this initiative. And there is a lot of information that we would be very happy to share with your pictures. We have a whole intranet for employees to participate and volunteer with these events and we can share all of that with you. Madam Chair, I appreciate through you. Thank you. And I would look forward to that in just in your one minute over giving us a little update on that. That's impressive. So I look forward to what you're going to send us because for this commission anyways, and I don't want to speak for everybody on the commission, but I know they all feel the same way I do. Community involvement is something that we care very deeply about. And we do too. As a public company, all funds of ESG are very important for the company. And so we have a whole report that we do on our efforts there and within the state of Rhode Island, we actually do a report of local communities that we serve and employment opportunities and ways that we create so we will be happy to share all of that with you. And then I have one other question, Madam Chair. Can I just do a quick follow-up beforehand? And the commission has raised a really, really good question and I wonder if somehow else just lately framed the question that may not feel illicitly the response that you are looking for. But you did mention other jurisdictions and I know that you've got, you know, Twin Rivers in Rhode Island, but you did ask about other jurisdictions and we see the immediate tie to community engagement through your retail and your casino business. But I think we also are expecting, if I dare say that, that online sports wagering operators also get involved in community engagement and that won't necessarily be as tied to a particular town as a retail jurisdiction. So we will be interested to see too not only what you're doing, but also what you might imagine for the common office after your Commissioner Hill as an online operator. It's even harder for us to conceive and I think innovations and imagination is, you know, are really going to be viewed favorably here and of course, most importantly, execution. So thanks, Commissioner Hill, for raising that question. Absolutely. Now, we are happy to provide that information and just to give you some more context, we are part of AGA's Have a Game Plan initiative and we are contributors to that. We are supporters of NCPG and other associations. In addition to this, Bally's Foundation, which is a publicly available website, talks heavily about all the different causes we support and if there is time, I'm happy to call the Bally's Foundation website to show you on the interactive side, which to your point manager is not just physically to our physical casinos, all the work we do. I chose to talk about Twin River because it's right near us and everyone can recognize some of the efforts that Bally's has put into it. We're happy to share the Bally's Foundation. Commissioner Hill, I'm satisfied right now that I think the answer has been very positive and I think the supplement will serve well, right? I agree. Yep, absolutely. Thank you. And your second question now, Commissioner Hill. So I don't know if you spoke to this. I didn't again see this in the application, but when we're talking about diversity and specifically, you know, women and minorities within your organization, do you have an in-house program that you have in place where you'll hire somebody and then help them work up the ladder to managerial positions at some point, things like that? Is there something in-house that's in place? Because this too is something that we care very deeply about. And our category one folks, you know, they have nice programs that we've heard about. And again, as we look to just online that are untethered, we want to know that you're doing the same thing. We absolutely do. We actually have a leader who is based out of Rhode Island in our headquarters, Tracy Wiley, who leads this effort for us and we do it across the board. We are in the process of updating our HR system and we've done that on the retail casino side where all of the retail casinos are on one platform and we're doing that on the interactive side as well that helps us track the development and representation throughout the organization. We had shared some stats in our application of retail casino side because that's where the technology was implemented so we could track the data and we're doing so on the interactive side as well. But we have an organization and the leader, both in the UK, which is also our interactive arm and there is no retail presence and also here in Rhode Island that manages the initiatives for us. Very good. Madam Chair, that finishes up my questions. Thank you. Thank you. Anything else for section C? Madam Chair? Yes. Mr. Dondanya, we made a commitment to the Treasurer in September to put into the application some language around addressing any kind of mitigation around the lottery and that included for and we understand it's a little different with an online only application but it included those applicants too. Can you speak to your willingness to engage with the Treasury? We're happy to engage with the Treasury and see what we can work out. Absolutely. Thank you. Other questions on section C? Madam Chair, no question but I do want to thank my fellow commissioner for the question around community engagement. I also noted that in my notes. Subject to the receipt of the supplemented information and our satisfaction with it and I don't doubt that we will be. I think this section meets expectations. Thank you, Commissioner Skinner. I agree. Great. I also agree. Thank you, Commissioner Mayer. Commissioner O'Brien? I do as well. Okay, so we're all set with those couple of supplements. Thank you. All right, then we'll move on to section C. I can start, Madam Chair, if that's okay. Absolutely. So Commissioner Hale touched on this a little bit relative to diversity in the workforce. Excuse me. I do note and apply your stats 51 percent female, 50 percent minority but hoping and if you don't have the numbers today the supplementation is fine but looking to drill down on those numbers just a little bit wondering what other categories of diversity you can include in those stats. It was noted that we hadn't asked for goals relative to the diversifying the workforce but we hadn't asked for that in the application but acknowledged that as a commission. We do have the authority to request it so also looking for you to provide supplemented information relative to that. Back to the drilling down of the diversity statistics if you could. I'm looking and I'm careful now to say I versus we but I think I am supported by my fellow commissioners in asking for additional detail around your where the female and minority employees are located within the organization. Corporate level, supervisory, managerial if you could just provide some detail. Happy to hear you speak on it now but if you could supplement for sure that would be a fantastic. We will do so commissioner Skinner we will do so with data so that you can see the drill down as as I alluded to earlier we went through this process of bringing all of our assets within one HR system we're still on that journey. We've been on a very aggressive M&A spree as a company both on the online and retail side and as you can imagine many of these came with different systems so it was hard for us to coordinate the data so we now have some capabilities of drilling down and offering that level of detail we as an organization take this very seriously everyone in the leadership team talks about it and we are happy to share that with you as well. Good thank you. The other piece of it is the supplier spend also looking for data on that as well as some identified performance goals. Absolutely we'll do that. Rob can you please make a note of of these supplements so that we can thank you. Other questions on D? The question I had on D I think it was E2 page 87. You talk about your advertising it's a little bit responsible gaming but it's you talk about putting it on public transit or am I in the wrong section I'm trying to think. I read that I'm not sure if it's in D but you go go right ahead we'll figure it out. Go ahead. No I think I'm coming ahead I think it's an E. I'll table it till we get to E. Yes okay fine. Yeah I've got D merged in my notes I'll table it till we get down to E. Okay any other questions on D? I think I would just reiterate what Commissioner Brian led with that in terms of it was carried over from C into D the your commitment to recruitment and retention and training. Just choose this as well suited for that so we hope you take advantage of those resources so thank you. Anything else on D? Okay there's a couple of requests that Commissioner Skinner made I think most of us would join given our history so is there any other supplemental information you want with respect to section D? Okay do we have a temperature taking? I was ready to say that they met expectations hoping that we get that amendment for a representative for Commissioner Skinner. Okay. Commissioner Skinner did you hear what he just said? He's made you an elected official. I heard it. I did. I did. This past week brought me back to yesterday year so I apologize for that. I think Commissioner Hill was an elected official. You never you never ever lose it so Commissioner Brian. I was just going to say you'll hear me start saying your honor periodically and that's when you know my brain has clicked into another time frame. Yeah okay. Met expectations for section D with the amendments to come. Okay I agree but thank you Commissioner Skinner you agree thank you Commissioner Mainer. I agree also. Okay we're off set for the two and now we'll go to section E. Any questions on section E? I think maybe you'll write to Commissioner Bryan do you want to ask your your question that you are ready to present? So there were I my memories there were two things I wanted to ask about and one of them and it may I may have missed it this may have been back and see about the e-question I was going to ask was page 87 and the PDF E2. You talk about out of the home advertising efforts and you specifically talk about public transit. I particularly think about some of the urban areas in Boston in particular in our state where you have kids that rely on public transit to get to and from the public schools and I'm a little concerned about that aspect of advertising. Commissioner Bryan this is just part of what we look at from an out-of-home branding strategy and mass transit public transits usually are you know media buys that you can make but if the commission feels that we should stay away from it we're happy to do so it's not something that we absolutely have to do it's just an example of out of home no different than a billboard would be that we buy on the highways today already for our casino products. Right so I guess I'm also wondering about I know when you do billboards particularly the ones that are electronic that can be timed you know you can dial it down from say to three to five thirty six if you know that you're going to be having more under the age that might see it I don't know do you have that same capacity on public transit or do you not know the answer to that yet? I don't know the answer to that I'll tell you that most of the public transit sort of buys that you do are typically static right unless it's you know I don't know in some subways you have digital screens where you can buy and time those but most of these are static wrappers that you put either on the side of a bus inside of calling the red line or the green line which you will see that those are not digital but like I said if there is a need on the commission's part for us to have some more guardrails around it we'll have to use it. Yeah I would and again I don't know the answers to these it's just something that raised a concern for me and there's probably other entities besides us I don't know even BPS or something that might know if there's certain routes that are more vulnerable than others to that and then the other question I had was also on that same page where you talk about various marketing and incentives and you talk about an incentive to your Rhode Island property customers are you talking about your when you say property I assume you mean your Rhode Island casino? That is correct so you know some of what we were trying to highlight is that we have a significant database of Massachusetts residents already right who visit our properties so we have an ability to engage with Massachusetts residents by way of our database. The mass customers who you have in your Rhode Island did this because when I first read it I thought you were pitching to Rhode Island. Well unfortunately there will be geo blocked out so they wouldn't be right here unless they're on the Rhode Island lottery app where they're able to do this. Yeah right. Can I do a follow-up? Oh are you are you all set? I'm all set. Just a follow-up and I bet you insisting asking this question but you raised billboards. Mr. Kidanya I'm sure you have not been following all of our meetings. We've had a lot of them since August 1st but you live in Massachusetts and I got you go down to the property in Rhode Island. Am I wrong but did I see a folly's billboard as we approach the border um to Rhode Island? There are two billboards that I remember because I drive um I drive down 93 and 95 every day so there are a couple billboards on on the way there one is when 90 when you get off of route seven and merge with 93 there's a billboard by residents in there remember and then if you get on to 95 halfway between Massachusetts and around there's a billboard for values casino there and I believe when you're headed to the airport you'll see a billboard where you have not just us but other gaming companies. Right so I suspect that you're going to want to continue to advertise in Massachusetts with casino property. We'll put aside splits waiting for just a second. I may be wrong and this is a time for you to correct me but I didn't see responsible gaming language on that billboard where our casinos here of course are required to put that there. Can I have a commitment from folly's that if they are going to continue advertising on billboards that they even though they're not regulated by us that they they're going to have a license here to online sports measuring that they add responsible gaming language that's that's consistent with what we require of our our category one licensee. Absolutely we're happy to do that and Rob let's make a note so that all marketing collateral just goes through that sort of check on our side. Thank you so much again I might be wrong but if it's not there we appreciate it and I know that second director Wells and our legal team can alert you as to what we require of our casino licensees. Thank you there may be another competitor there that does the same thing I just may not be afforded the opportunity to speak to that competitor so directly so I appreciate your indulgence today. We know who you're referring to the madam chair because all of the competitors have billboards in the same sort of vicinity. Yeah you know what we're all working to make for the same costs and useful gaming is of utmost importance to operators alike across jurisdictions and regulators alike and you know it may not be subject to regulation but it's pretty easy stuff to put up so so thank you. I had a question about what you asked my fellow listeners but actually it somewhat relates to what Commissioner Bryan brought up so I think I heard or read and maybe I heard today that 40% of Rhode Island data base are Massachusetts customers so you know it's not lost on me that probably one of the goals of our legislature and the executing governor of the bill hope to repatriate those customers and so I know that you know that number one that Commissioner Bryan wrote up so it looks like $200,000 so marketing budget and my apologies that that was supposed to be so much confidential but I'm actually wondering about any other strategies and if that's sensitive I appreciate that you may need to discuss that in a second session but it is such a large base in your private database I just wonder how you achieve that while having your interest in Rhode Island as well. I'm happy to give some general comments Madam Chair and then thank you and specificity is always available in the executive session you know what we would say is this is not the only sort of property where we have customers or players from different states and we've done some work similar to this in New Jersey as well because we have a property in Atlantic City and as you can imagine we get customers predominantly from New York, New Jersey and Pennsylvania all three of which are regulated gaming states right so we have tried and tested marketing cross-sell initiatives so it helps us engage with the customers while they are in the property and also engage on online products because we don't have a physical experience available in New York or Pennsylvania right so when we think about our efforts with our database that we have we will obviously do so in a way that we know that if a customer is willing to place a sports bed and doesn't drive all the way down to Rhode Island or isn't in Rhode Island we are wagering on our platform here in Massachusetts so it just gives us better ability to engage with our players irrespective of location and it's a form of convenience if you will because those who want to go to the property will want the experience not just the playing at the property but they usually go there for the hospitality aspects too and so we just want to make sure that we're able to speak to our customers with different products because they are buying into the brand and the proposition in the trust they have in the brand and that we are available for them irrespective of the safety of the rate thank you we look forward to that update other questions for and assuming the youtube business we would love to see that reversal so thank you now any other questions on e seeing none do we feel they met expectations i'll go for us and say that i do believe they met expectations for section e thank you same sorry i'm not i'm very pleased with the conversation you had about the billboards to an erg language madam chair i'd like to answer thank you the response was excellent right thank you very much um and i don't believe we had any right we don't see any sort of deficiency that needs to be corrected or any supplemental information for enhancement on this okay um madam chair if i could just make a quick comment um in response to commissioner o'brien's concern um regarding transit i believe and i'm gonna uh with your assistance and partnership reach out to the t i believe that we i don't know what we can do through regulations but i believe when a company is purchasing time on transit that they can actually dictate when those messages will be seen especially through the electronic piece so i would ask you to join me we can maybe meet with them and figure out if there's something as a commission that we can do to alleviate the younger people seeing that during those transit times going to school but i i believe you can dictate that in a contractual way so i just wanted to add that madam chair yeah i think most of in the t not all are dynamic advertising now so i think perhaps what you're getting at christian hill is to require the advertising to be during certain hours i also believe that perhaps that kind of advertising is going on now with respect to certain um for yeah in my opinion so it's it's um advertising's on our uh we'll be coming up next week so this is an important question so to the extent um commissioner hillie you've you can get in tower perhaps use our team to follow up that would be helpful good idea it's hard to interrupt our application meeting for that no no no that's a good it's a great follow-up and it'll help us for next week so um but i was taking a temperature um and i've lost track was it you who started at commissioner hill yes commissioner skinner i think you did you lean in yet yes okay commissioner maynard okay yes i agree and i support you uh madam chair and and raising the billboard issue oh thank you and commissioner grind yes i think we're all set then without um any additional information thank you for that we'll do some polling ourselves okay then moving to section app holy questions everyone's looking at their notes well we're we're looking at app i just want to also come commend um because i know you made a very generous gift to ic rg which i believe is the massachusetts-based um um entity from multi-year research on gambling among young adults thank you for that commitment and i also know that uh you're awarded the state for gambler operator of the year united kingdom and congratulations for that word uh thank you madam chair we we did apply the commitment of six hundred thousand dollars to ic id yeah and and the topic uh commissioner brian we probably want to keep track of of that uh research it looks like it's multi-year so maybe that's i mentioned because commissioner brian often leans on um our concerns about uh youths being targeted in any way and so perhaps we um that's an area where i know um director vandalin knows that organization well so there might be some um benefits to us that come out of that research so thank you house pollination f i'm satisfied with f i don't know if anybody else has any questions for today's presentation in the watch please i'll set your skinner i think f meets expectations i agree madam chair thank you commissioner okay all right madam chair may i just uh i know that commissioner brian earlier as we were reconvening had a question around session limits and our application this was in section b but some of it could be part of f so if it's okay i may want to respond to the point around why it says i casino on session limits because today it's concluded for i casino and we have a team if you want further technology details it's part of the platform as i explained so it can be turned on none of the current states where we live have regulations that require us to have session limits on sportsbook so it's not turned on for sports but if that's something that the regulation in massachusetts requires we're able to turn that on so can i ask you before you is it required in certain restrictions with eye gaming or is this something you've done spontaneously and voluntarily in the eye gaming jurisdictions it is required in certain jurisdictions for jonathan if you're back on you can speak to specifics on with jurisdictions etc yeah yeah thanks ellie i'm back on yes it is required in a lot of jurisdictions for casino purposes and the practicality being around the sort of mental aspect of gambling and being in front of a screen and clicking spinning and spinning repeatedly which is generally thought to be different in the sports betting environment because sports betting you you may wager a lot of money but you tend to do it over a drawn out period of time perhaps waiting for a sports event to finish maybe you're doing in-play betting but sometimes you put your bets on ahead of the event and we don't tend to limit the time that you're actually spent on site but as adi referenced i think that we could easily make the change if we were required but we've never been asked to do that for a sport yeah i'm it's it's the in-game betting that i was actually thinking of um having seen some of the the younger people in a time where it happens and all of a sudden hours go by when they're in a video game um i don't know if the act of the in-game betting it would be different than to your point you place up front and then you go watch your your event um so this may be sort of an emergent area but i definitely think it's something we want to keep track of because it sounds to me Commissioner Skinner had asked about the whole idea of the cooling off less than 24 hours this almost seems to be a compliment to that idea where you could cap yourself at a certain amount of time in a given 24 hour period that might be cooling off less than 24 hours we could build that as well quite quite easily it's fully capable again we don't have it but we could do it it's just a figure yeah it's also a conceptually different idea it's not that you're barring yourself all together necessarily so much is making sure you don't spend too much time in a certain time period doing it so it's a seat is almost complimentary to the cooling off all right thank you for that clarification thank you Commissioner O'Brien we just wanted to make sure you understood that we have all these configurations available and yeah probably the requirements we're able to turn those on as we did yeah i appreciate it okay now we move to section g i think that there's some follow-up on section g with respect to the finance that's our home request for any second session and attorney kramer has come on and now that we're back in suitability um thinking about suitability so there's any follow-up questions you've had on that but right now we only have i believe one topic that we're anticipating going into a second session the only question broader question i have before we go into our assembly some of the smaller details on finances is and they're not the only applicant to do that but getting the information of financially mostly on the parent company only and not at the applicant level and i'm curious as to why the financial information provided who smells like the parent company level as opposed to the applicant level we report at the parent company level and our parent owns valley's interactive and we're a public shell at the parent level so we typically do our audit statements etc at the parent company level so those were what we're providing as part of our sec finance okay and then and this is a question i'm going to have of other people too that have this sort of relationship the disclaimer that obviously the parent company is well funded and has the capacity to support the operations but could also decide to terminate if they so chose you know what if any agreements or assurances in connection with the massachusetts application can you convey to us in terms of your request to enter the market and just to pause if that's more appropriate second session yeah yeah what i would say generally and happy to elaborate further in the second session is that we are committed to this business right as you may imagine just to enter any state is a huge amount of capital expenditure and a lot of engineering hours that go in along with management time so we are fully committed to making sure that every state commonwealth or province jurisdiction that we enter we are successful in it we we want to do so in a physically responsible way and we want to we want to be noticed one thing that you would see from our public company financials is we have a pretty healthy balance sheet as as was alluded to earlier and also we are a cash generating business we throw off a lot of free cash flow as an organization that we can reinvest in capital expenditures or growth plans as we've done so over the last few years so we're committed to doing so as an organization right thank you missional brian should um do you think that your question if you wanted it more deeply answered it's it's satisfied in our the rsm or do we have to ask counsel grossman for an additional i don't think so because i don't think that it sounds like there's anything more specific than sort of the general structure and intent there's no particular agreements to be referenced or anything like that the talk about budget or you know anything like that doesn't sound like that exists so i think the other financial questions are already captured by the earlier rsm references okay thank you any other questions on on g for kathleen either at this at this juncture everything was answered i had asked a lot of high level questions about um jurisdiction issues they were able to answer publicly which i appreciate okay then we'll um should are we in a position where we need to um i guess really c and g um it's almost even more c um where the rsm um g2 um this report is implicated um outside of the rsm report do we can i take the temperature of your feelings on section g and whether or not the applicant met expectations i'm sure center i was yielding to commissioner hill i saw you go first my apology i'm sure hill no i do think that this section needs expectations provided uh we we get a satisfactory report uh an executive session from rsm excellent thank you commissioner hill commissioner skinner has done such a great job of leading us on expectations today that i was going to let her go first for the whole day i do believe g has been met um as well their expectations have been met i look forward to uh what we hear in the executive session commissioner i concur with commissioner skinner great same okay and thank you i agree so we're all set then with respect to our review of each section and now i just need some guidance from you counsel grossman on on our anticipated executive session sure um as so this is um entry uh 4d little 2 on the agenda and um as we have done in the past successfully i would propose that we just ensure that we are um precisely identifying the issues that the commission is interested in discussing in executive session there's there's clearly the one relative to the financial information i'll get to that moment entirely but i just wanted to be clear about a couple of other things i take it that um the commissioners are satisfied based on mr smith's response relative to the indiana and arizona compliance matters that there's no further information required um on those is that and then madam chair you raised a question relative to the targeted marketing um using the database is that uh an issue that you were interested in pursuing an executive session or has that been satisfactorily responded to as well i think it's been satisfactorily responded okay excellent in that case um the sole issue for discussion executive session relates to the discussion that miss merlino from rsm was leading earlier relative to the market share percentage estimated revenues and perhaps even estimated hold percentages although they provide that information and any differences in estimates between uh the again and rsm's evaluations if though if i have that uh correct and that is the the issue that the commission is interested in hearing more about an executive session then it is my opinion that that would fit into uh the statutory language in section six i of chapter 23k in that it would be uh competitively sensitive information it was provided in the course of an application for this license and the disclosure of it publicly would place the applicant at a competitive disadvantage okay and this falls under d2 correct that's right okay then uh as you know commissioners i have to read this into the record so that we can consider whether or not we should move to holding the executive session the commission anticipates that it may meet an executive session in conjunction with its review of the valley's interactive llc uh application in accordance with general mage chapter 30a section 21a subsection 7 and gl chapter 23 and section six subsection i yes subsection i to consider information submitted by the applicant in the course of its application for an author licensed that is a trade secret competitively sensitive or proprietary in which you've disclosed publicly would place the applicant at a competitive disadvantage do i have a motion and i'm sure i move that we go into executive session for the reason stated by yourself and general counsel rosen second okay any discussion all right kushal bryan hi mr hill hi mr skinner hi mr maynard hi my vote yes five zero so now um magic occurs again we are successful yesterday uh are we going to use the young break out room again before we go into that session uh i just want to ask commissioners are we comfortable moving right into executive session or do we need a break that's moving groove let's move and groove all right then we'll just wait to be transformed uh just to check are all the folks who you would want for that executive session available right now because this is the time for them to join on our side madam chair is just myself and rott smith so we are we're here enjoying the executive session okay i see a couple of other of your your um your uh colleagues and they would be transported with us but they could always just leave all right thank you so much chair just a point of clarification for the the stream in the public we are intending to come back to this public session correct well thank you for thank you for the reminder it's very important for me to note that the um commission anticipates reconvening public session uh to most likely adjourn this meeting at that time so we thank the public for joining certainly we will reconvene in public today thank you i believe christa will be uh putting folks into the break up room everything just opened and everybody's been assigned so what's that christa you on christa you on or is anyone on from mgc it this is joe bono july joe what's going on uh i got invited to the breakout session i'm not sure if that's correct do not need to join if you if you don't think you need to be there but we can uh we can call on you if the commissioners need something okay that's the way it's usually been i usually haven't haven't gotten an invitation unless it's absolutely needed so i haven't yet okay we'll we'll let you know we'll shoot any okay i'm not going to join the call here okay all right thanks so much like everyone made it safe yes back in the old days we used to walk and get some steps said and now we just wait to be transformed um encourage everybody to get their steps out i was hoping for my first in-person hearing because i haven't had one for two years and this was local so i was excited well you know what they they will return this is um we're looking forward to that uh so we'll make sure that this all goes your way we'll make sure to have the invite um thank you all right so um we have concluded our executive session and there were two topics that during that executive session became clear that we should update the public on so the first um i'm going to turn to Mr. Tadania about um material that we thought had not been included in the application it was inadvertent um and so if you want to update um everyone on that and then i know that Ms. Merino will come in um on RSM's take on that afterwards thank you thank you madam chair there was a question that RSM had brought about hold percentage and whether that was provided in our application hand or handle information it was provided as margin in one of the sections it was at least section C where we had provided our assumption of seven percent for margin and we had provided handle information as well in section B on page 66 of the application that gives the three cases and the handles that we would expect for values we believe that it was probably not included in the materials that went to RSM but it is part of our overall estimation and based upon the information provided and and our review of the application um upon upon getting that the specific page numbers we um would inform the game the gaming commission that the seven percent hold percentage is consistent with the marketplace consistent with the industry and consistent with what we would expect for the number of properties and and like performance in other jurisdictions thank you commissioners I'll set on that topic okay then the other clarification um we would turn again to Theresa to go over one slide thank you so RSM as part of RSM's overview to the gaming commission of the U.S. market and where various platform providers perform you know across various jurisdictions in the U.S. we provided a third party report in that third party report noted bar stool and pen twice as two different categories on on the chart for for analysis purposes and we went through to the original report and it does appear although it's not our data it appears that this may be associated with some sort of consolidation in the marketplace but but is unknown it it is a it is a typo in that third party report nonetheless the purpose of this this slide is just to provide the commission and the public with an overall sense of where various various players play in the overall U.S. market which which may ultimately differ than Massachusetts but is good for context as the commission evaluates the applications and I would just add that the entities that are noted include applicants and include non-applicants and that was just by chance yes this is just intended to to give an overall sense of the broader U.S. marketplace as the commission um dives into the details of each applicant's uh proposal thank you thank you any further questions for Theresa on that okay then I'm turning that to our agenda at this time I I believe that what we've been able to establish today is that we've gone through the evaluation of the application there's some materials we'll look forward to receiving but our ultimate determinations as we outlined earlier this morning and when all the briefly today is um will occur uh we anticipate January 18th and 19th so at this time I think we can say thank you to the applicant and then uh commissioners I believe we can adjourn for the day and uh can still correct me wrong but we start Monday the the night on our next our next candidate correct we do want to make sure I'm off mute okay uh yes Monday the uh night at 10 a.m. 7 a.m. um I don't want to interject but I just wanted I had two notes and I want to make sure we don't close out before I clear that up I thought we had two other executive session pieces components do we know I had something about the rg marketing database and then the financing between the parent company and the entity you know maybe I just take notes that are unrelated I just didn't want to miss something well I know that the answer on the financing between parent company and applicant there was nothing more specific to produce the executive session okay the rg piece I think I think uh Todd may have framed it just slightly differently but again I was satisfied with the answer so thank you you both picked up on that but very good thank you so much um so with that said um I think that we will reconvene on and on Monday at 10 a.m. for our next applicant and um we can say thank you very much to you Mr. Dodania, Mr. Smith um and um I don't know if we heard from your other colleagues today but thank you too for attending and your your assistance and to all of your um you have a nice weekend commissioners thank you all right and Mr. Dodania now I was just going to say thank you madam chair and to the commissioners I know this was a long day and you have done so many of these and more to come so appreciate the powerness rigor and the thought process that's being put through uh very excited as a resident to see online sports betting come to Massachusetts and appreciate the opportunity in front of you and tell a little bit about valley interactive and valleys corporation so thank you from us and appreciate the time Mr. Smith I just sort of thank you all as well um very educational and you have a difficult job to do so I appreciate all the work you did thank you thank you commissioners would you like to say anything before we adjourn and thank you for your preparation and time it helps us move everything along so thank you and have a good weekend and I echo that um commissioner brian thank you mr. Maynard I echo that and I actually have one more piece of business before you close out madam chair but I can wait until commissioner hill and commissioner hill I'll set I'll just say ditto and have a great weekend okay so thank you to the applicant and now I'll turn to um the commission's any other business yes madam chair if I may um I would like to notify the public the mgc staff and my fellow commissioners that I've filed notice with executive director karen wells that I intend to attend an end of service retirement gathering for the honor honorable charles d baker and the honorable karen e palito um tomorrow january 7 2023 at 7 p.m um it will be a Picasso ballroom on court boston harvard uh I received an invitation in december to attend um and I worked for the former governor and lieutenant governor for a box in the last six years in various capacities uh the last possessor chief secretary there's no cost to attend these to the event um and to my knowledge the baker and the committees will be covering um I will follow all applicable laws rules and regulations during my attendance and I've consulted with both councilor grossman outside council and deciding to attend and in filing notice and making this announcement today thank you any questions for commissioner maynard and thank you commissioner maynard um I know that you're going to have a very nice time and but for a conflict I would be joining you so enjoy and thank you for um seeking out council to make sure that any any concern um is addressed thank you very much any further questions okay with that I would move to adjourn madam chair and wish everybody a very happy weekend second thank you many for the discussion okay commissioner brian hi mr hill hi mr skinner hi mr maynard hi and I vote yes thank you and again thank you very much for this thank you very much