On Monday, banking group JP Morgan issued a note that was a response to the envrionmental, social, and governance (ESG) claims that when it came to Aristocrat Leisure LTD, the focus was slightly shifted to different areas rather than ones that concerned traditional casino and betting operators.
The accusations against the slot machine and iGaming provider came from a number of gaming companies listed in Australia. However, in its note, JP Morgan praised Aristocrat’s operations, noting that not only does the company educate players about responsible gambling, trains its employees, and is being transparent with consumers, but it also prioritises ethical design for its products.
JP Morgan Praises Aristocrat Leisure Ltd Operations Despite Other Companies’ Claims
The paper which was issued on Monday was titled “ It is not all bad news: Responsible Gaming”. The memo was conducted by Don Carducci, Emily Macphersin, and Michael James, who are analysts of JP Morgan Securities Australia Ltd. The note highlighted Aristocrat’s efforts to strive for ethical product design as this will have a great impact on the company and its stakeholders.
According to JP Morgan analysts, the gaming company was demonstrating its commitment to ethical design by making sure its games are not encouraging excessive gambling by tricking players.
The slot machine and iGaming entity was also praised for abiding by responsible gambling practices. To show its commitment to this issue, Aristocrat’s new digital wallet used for gaming was going through a trial period in New South Wales (NSW). According to the analysts from the banking group, the trial was a conjoined effort of the NSW government and state’s regulators, with the main goal of the testing period being to understand and inform others about the ways they can protect themselves from gambling harm.
According to JP Morgan analysts, the digital wallet powered by Aristocrat will enable its users to pay for both non-gaming and gaming services whenever they are using the wallet at a venue.
Aristocrat Digital Wallet Trials to Ensure Safe Cashless Payments for Gaming Purposes in Australia
One of the great features of the digital wallet by Aristocrat is the chance to set certain limits that will ensure responsible gambling. The digital wallet will enable consumers to set limits on the frequency of play, the duration of their gaming sessions and the amount they spend or bet.
Additional tools of protection that the wallet offers include self-exclusion from using the payment app at gaming venues. What is more, consumers will be able to request additional intervention from the staff at gaming premises, having them monitor the gaming behaviour of wallet users.
The banking group also praised another feature of the digital wallet that proved Aristocrat’s dedication to responsible gambling. Wallet users will be restricted from transferring funds to their wallet accounts while located at gaming venues. To be able to fund their wallets, users will be required to leave the gaming floor.
- Author
Olivia Cole
