This is the ninth annual International Festival that is presented by International House Davis. This is a celebration of culture and community and identity and heritage and really what this is and what International House does is provide programs that provide everybody a sense of belonging here in Davis. This is about making sure people have the ability to express their culture and their identity and that they are seen and heard as members of this community. We have over 30 different performers performing today. We have over 40 different booths and vendors. These are people, some of them are selling international artisan wares. Some of them are promoting social causes. Some of them are celebrating the culture and bringing information to the public about their culture and really this is about celebrating unity and diversity and celebrating our differences and recognizing that our differences are what makes a community great.


Okay, so we have examined how in the short run we determine equilibrium in the economy by focusing on the demand side. We organize the economy in different markets, the goods market, the financial market, and then we determine equilibrium conditions in those markets so that in the end we can have the overall equilibrium, having brought in the supply side, looking at the labor market and production. For now we're going to focus on the determination of equilibrium in the financial markets. I want to first of all to be useful to clarify a few concepts that we're going to use in this segment. One is money. What do we mean, what do we understand by money? In this segment what we understand by money is liquidity, which means currency, bank notes, coins, but also checkable deposits, checks, travelers checks. The means that you can use readily to settle transactions, that's what we call money. But there is also a similar, I mean, related concepts which are not the same, one is wealth. Wealth is not the same as money. Money is one of the elements of wealth because in wealth you have liquidity, which is money, but you also have non-liquid assets, your bonds, your stocks, and also your non-financial assets, real estate, and so on. So wealth is a broader concept than money. How about income? We understand income as the revenue which is generated from utilizing our capital, whether it is our human capital or our financial capital. When you go to work you generate your labor income. When you invest in assets you also get interest income, but it's the income that allows you to buy assets to accumulate wealth. So income comes from the utilization of your capital to build up wealth, and once you have wealth there are different ways of holding wealth, one being money. So wealth is a bigger concept than money, which is a subset of wealth, and the other subset is bonds, and then you have other. So what now do we mean by demand for money? If I was to ask you what is your demand for money? What does it mean?  So when we say demand for money, it means the fraction of your wealth that you keep in cash. So what is the fraction of wealth held in liquid form? That's what we mean by demand for money. Now the question is what are the determinants or the motivations for holding money? The reason this question is interesting to ask is, or at least is not trivial, is that if you keep $100 here as money, how much are you earning? No interest. You earn no interest. In fact you are losing money because as you are not earning interest, inflation is going up, price levels are going up. So every month you lose the equivalent of the inflation rate. So it's costly for you to keep money here, to keep your wealth here. That's why we ask, why are you keeping money? So there must be a motivation why you would want to sacrifice returns from investment by keeping your wealth in the form of liquidity. One motivation for money demand is transactions. When you go to the store and you're buying groceries and clothing, you need to settle those with some form of means of payment. And universally cash, liquidity is the best means of settling payments. And a check issue gives liquidity. So one of the reasons why we hold money is because we want to, we need it to settle transactions. So it's the best means of payment. Now of course it will depend on your income. The more income you have, the more cash you'll keep in your money box here. Certainly people with lower income are going to have less cash than people with higher income because they consume less. But this is also going to be influenced by the price level. Because if you live in an area where the cost of living is high, then you must keep a larger fraction of your wealth in cash. So that's the first motivation. The second is we never know what the future holds for us. So for precaution, we need to keep some cash at hand. Because if you were to put everything in bonds and real estate and so on, and then you need to go to the grocery store or you need to go to the hospital, you will have difficulty converting all these non-liquid assets into cash for you to settle your payments. So because the future is uncertain, we tend to keep some of the wealth in cash. Of course, the more income you have, the more you keep, but also it depends on expected prices. The last reason for why people hold cash is for speculation. What do we mean by speculation? What we mean by speculation is trying to move your wealth or your assets between one form and another so you can get interest income. Now people will buy a particular move their wealth from say money to bonds if they expect to make money out of bonds. So it's important to understand why would one put their money into bonds. So let's focus on the four concepts or yield. When you buy a bond, you are counting on making money out of the bond. The bond comes with a face value, but today you're going to pay a price to buy the bond. At the end of the term, if it is a one-year bond, a five-year bond, at the end of the life of the bond, you're going to get income, which we call capital gains or yield, capital gains on the instrument, which is the difference between the face value and the price you paid today. So that is the yield. So the yield is the difference between the face value of the bond minus and the price of the bond divided by the bond price. You can see that since the face value is given, if it is a $100 bond, it will be $100. You will get $100. You will not get $110. So if you pay a high price for this bond today in the market, then you get less at the end of the life of the bond. We can rewrite this equation to express the price of the bond in terms of the yield, which gives you... So the price of the bond today is equal to the face value divided by one plus the yield. And you can see already that if the yield is low, the price is high. If the yield is high, the price is low. If the price is high, the yield is low. If the price is low, the yield is high. So you have a negative relationship between the price of the bond and the yield. So I should say a low yield means a high price. A high yield means a low price. So now let's go back to the decision to hold money. If you're going to decide to put some of your worth in as cash, to hold it as cash, as money, that means you are foregoing the earnings you could have made by putting that worth in the form of bonds as opposed to cash. So there is an opportunity cost of holding money. And that opportunity cost is higher, the higher the yield. So we expect that if the interest, if the yield in the bond market is high, we expect people to hold less cash. So money demand is going to be lower. Because with a high yield or low price of the bond, if the bond prices are lower, you would be much better off by investing in the bond, putting some money in the bond, so you can collect the high yields. Alternatively, if the price of the bond is higher, then you don't want to put your money in the bond market. You might as well keep it in cash. So a lower interest rate will result in higher money demand. Just because of this trade-off between earning money on your investments in bonds and keeping money at hand for it so you can be able to settle the transactions. Again, keeping your wealth in cash is costly. You forgot the returns. But also keeping your money in bonds is not free because you forgot the advantages and the use of the money as a means of settling your payments. So that means that when we look at the relationship between money and an interest rate, or yields, we're going to see that there is a negative relationship. High yield, lower money demand. Low yield, higher money demand. So if we're thinking about a relationship between the two, it will be represented by a downward-sloping curve. So this is your money demand. This is holding other things constant such as income. We would see that a high interest rate here would correspond to a low money demand, whereas a lower interest rate would correspond to a high money demand. This is very important for us because then we can determine the equilibrium. So we saw that money demand is going to be a function of, is influenced by interest rate, but it's also influenced by income. I say that the higher the income you have, the more you can afford to keep your wealth in cash. You have more means to hold cash. So if we were thinking about money demand, which is m, let's call it d, but let's think of the real value of money demand, which is md over p. This is p is the price level. How much can you buy with your money? So the two key factors that we saw that influence the amount of money you're going to hold in cash, the amount of wealth you're going to hold in cash, which is money demand, is how much income you have. The other one is what is the yield on bonds in the market? How much do you make by investing in the market versus holding cash? That's the interest rate. So money demand is going to be a function of income and interest rate. So if we hold income constant, or for a given amount of income, the relationship is such that high interest rate corresponds to lower money demand, low interest rate corresponds to higher money demand. So there is a negative relationship between money demand and interest rate. This is convenient in determining equilibrium in the money market, as in all markets, equilibrium is going to be determined by supply and demand. Money is demanded by the public, households, and firms. Supply of money comes from the monetary policy authority. It's exogenous. The central bank determines how much money is circulating in the economy. So once we have money supply by the central bank and money demand by the public, we can determine equilibrium. And given that money supply is not influenced by the public, we're going to take it as exogenous from outside of the system by the central bank. So equilibrium is going to be determined by money demand equals money supply. So in our diagram, we have money demand here and money supply here that gives us the equilibrium interest rate. So equilibrium in the money market is determined by money demand by the public, money supply by the Federal Reserve Bank, the central bank, which gives us equilibrium interest rate. This gives you a sense of how in the financial market we come to determine equilibrium in that market by focusing only on the money market, even though there are other assets. Because once you have equilibrium in one market, you will have or you must have equilibrium in the other markets. Thank you.


the thumbs up. Sounds good. I'll get it started and let you know. Thank you. All right. Paul Sutt. Thank you. Good morning. This is a convening of the Massachusetts Gaming Commission Agenda Setting Meeting number 166. I'm Jordan Maynard and I'm serving as interim chair at the Gaming Commission. This meeting is being held virtually using remote collaboration technology. So we will do a roll call. Commissioner O'Brien. Good morning. I'm here. Good morning. Good morning, commissioner Hill. Good morning. I'm here. Good morning, commissioner Skinner. Good morning. And it is approximately 10.03 on April 3rd, 2024. Let's start with item number two and the upcoming meeting schedule for April. We do have a meeting today which will deal with a beverage amendment from licensing and IEB and then we'll move to a very important issue for us, the general population survey from the division of research and responsible gaming as well as the University of Massachusetts. We then have a public meeting on April 11th, an agenda setting meeting on April 17th and a public meeting on April 25th. Commissures, are we wanting to keep? Just wanted to flag the end of April. I may not be available. I know commissioner Hill may also have an issue. We may have a quorum challenge that week. So don't know yet, but something to keep in mind. We may need to mess with that one a little bit. We're happy to make it work for everyone else. I am a commissioner Skinner. Are you good with that? If we need to move the day to day or two? Yeah, it depends on what date we choose, but yeah, I'm open to rescheduling that. Well, we'll have another agenda setting on the 17th too and we'll meet in between. So we'll make something work for everyone. And I'll know before that. So word can get out in terms of we can figure out what works long before the 17th, so. Thank you, thank you commissioner Brian. So are we gonna keep the same cadence for May? Is that the idea? If so, I'll kick it over to Grace, but it looks like I have May 1st for agenda setting, May 9th for public meeting, May 15th for agenda setting, May 23rd for public meeting, and then a final agenda setting on May 29th. And honestly, I just, the agenda settings, I like to hold those just in case something pops up, but that's kind of what I have down for May. Is that right, Grace? Yep, that's correct. Chair, sorry, my only request is that we get holds on the calendars fast because I don't have any right now. Okay. Yeah, often hold as soon as meeting ends if everybody is okay with those May days. Yeah, I'm playing a little bit of catch-up, Mr. Skinner from my predecessor. So I apologize for that. All right, so we've went over that on the upcoming meeting schedule, let's delve into April 11th, and run through that meeting date list. All right, let's start at the top. This is the first open meeting that today, by the way, that executive director Dean Serpa is attending in his current position. Just want to take a moment to thank him for bringing his decades of service to the Commonwealth, to the MGC, and we look forward to leveraging his experience and making real good use of it as we move forward. Welcome to the team, Dean. Is there anything, A, you would like to say, and B, will you have an administrative update for April 11th? Thank you, Chairman Maynard. Kind comments, and I'm looking forward to being with the team and enhancing and amplifying all the hard work that the group has been doing. I do plan to have an administrative update at the next public meeting, but other than that, no comments today. Thank you. Anything from my fellow commissioners at this time? Oh, well, all right. Judy, I will go ahead and say that we will have meeting minutes for July, I think it's July 11th and 12th, 2023? Yes. All right. Thank you. Thank you. Mr. Hill, do you plan on having a legislative update that day? Do you want to keep that hold? I'd like to put that on there because I believe the budget from the House will be released next week in time for our meeting. So we will go over it and see if there's anything in there that affects us that I can report back to you on. Thank you. And thank you also for leading the breakfast yesterday. It was a really nice meeting. Let's send it over to Councillor Grossman. Todd, it looks like we will have some regulations coming up, dealing with some data privacy and some various horse racing issues. Yes, good morning. I'll let the other members of the team address the specifics, but those are ready to go and looking good. Yeah, good morning. We'll be all set on the data privacy regulation that will be coming back after discussion February 1st. And then I believe Justin's ready on the other three on those horse racing regs, but I'll defer to him. Yeah, that's correct. The other ones are all set for racing. I would just note that for 205 CMR 329, there's an additional portion of 329. It would be 329 subsection 2AD. There's also a small change being made to that, but it'll be reflected in the memo and all the other materials for next week. Any questions, Commissioner? I have a question. What is the posture on 257? If I recall, the last time we reviewed that regulation, there were a couple of action items that maybe included some, Carrie, yeah, I'll stop there and just have to answer the question. I just, because I'm drawing a bit of where we left off. Of course, yes. You had asked for some background on what had happened up to that date and sort of why it was returning for review. So I had shared the previous meetings with you and the round table discussion as a reminder as to where these changes were coming from. So again, just, these are changes that came out of the round table discussion and are really cleanup and clarification changes, not really substantive changes. And then you had also asked us to share them with the Attorney General's office, which we did. Okay. And they said there are no waivers pending, right, for 257? There is one waiver that's in effect from a particular section through July 31st. So I think once we see how the reg moves forward, then the operators will have that ultimate language for that section and then know how they need to move forward with either additional waiver requests or their processes. Okay, sorry. One more question. Could you remind us what the waiver covered? Or what it was? I may need crystal there. If you have that off the top of your head, Crystal. Yeah, I was going to add there actually are several waivers in play, but the one you're referring to because we had to bring it back the last meeting is the one Carrie covered. That one is in particular to the encryption and hashtag related to the PII. And so that I think the language will, I briefed with Carrie last night, but I haven't seen it, but I think the language is essentially what you guys have been looking for. So that will help clarify whether we need to move other waivers. But the other waivers that are in play are just the ones you put in until June 30th, which hover this regulation until June 30th, which, excuse me, you will then have that final report to review, I think. So those are just the waivers that were universal to allow this to get into play. Okay, thank you. Crystal and Carrie. Thank you, Commissioner Skinner. And thank you for those questions. I know that I could probably benefit from a two by two. And others may want the same. So I'll throw that out there. We'll move on. I understand director band is not here today, but I want to check with Crystal or Andrew to see if the sports wagering division plans on having any matters for the commission on the 11th. We do. We have a couple of items. And it's just me today. So give me a second while, pull everything up to run through. So the first item will be, Bally's will report to the commission on the 11th, if that fits on the schedule, they're available. And we've confirmed that Brett, the CEO Brett Callup will be able to attend and then others. So I would get you that information once I confirm. The second item is Andrew will be bringing, excuse me, a catalog request for the pro volleyball federation from one of our operators. The third item is me. Okay. So, and so the third item is related to waivers, which are related to 248.044, which we will be bringing a couple of them. There might, there are gonna be two or three, I think too. We've identified a technicality related to the regulation, technical issues of non-compliance, no security risk or concern, but we do want to make sure that we get those next week if that's possible to just cover them while we review the process. And the regulation, the regulation requires the commission to review those waivers. So that is 248.044 on the KBA component of the KYC. Commissioners, do we have any questions around sports wager? Okay, see you tomorrow. I think I have one. Okay, sorry about that. Sorry, I'm looking at two lists. All right, and then the only other item we might have, I did send that year at a glance report out. And also we've sent the marketing order out. So just if you guys wanted to bring any of that forward, they are in your inbox for review, but those are all of the updates sports wagering has. 4-4-11, and for clarity and just FYI, we will not be here. None of us will be here on 4-25 because we will be at the round table for regulators for GLI. So no items on the 25th. Well, you beat me to it. I was gonna ask about it. So again, I ask you again, remind me again. Do we have any questions based on Crystal's addition? I actually think it makes a lot of sense to review that year in glance. That was a good document. So thank you for you and your team for putting that together. We'll add that on the 11th. Next, we'll kick it to Chief Delaney. Yeah, so we should be all set for the 11th, but it looks like we will actually be doing six applications instead of seven. There was one that we weren't quite ready for. So we'll be doing the six. We do have two-by-two scheduled for next week. So we should be able to give you a good briefing on those applications. All right, thank you. We appreciate it and look forward to it. It's always a fun thing to go through. Okay, it looks like we have Director Monahan and Councillor Stempic. Looks like we're gonna have a discussion for the process for alleged sports wagering non-compliance adjudicatory hearings. Is that correct? Yep, that's all set. We'll be scheduling two-by-twos with commissioners ahead of time, just because there's obviously quite a bit of nuance in this case issue, so. Is this a continuation of that discussion that we had over the last few months about like category B, category C, or is this? No, this is more about, there was questions about posturing of how these hearings would take place and what the role of the IEB could or should or might be. And so this is really a, it's a legal, primarily legal analysis of our statute and our regs to look at what our authority is, how we can shape and posture these different types of hearings, if they be adjudicatory hearings or handled in a different way, and really kind of setting forth the options that the commission can choose to approach these. And as you may recall, we've put a couple of sports wagering related non-compliance events have been investigated as we delved into this issue. So hopefully this will clear it up, provide a couple of choices for the commission, and then we can get those back on track for adjudicatory hearings or other resolution. All right. Do we have any questions from the commissioners? Justin or Caleb? All right. Thank you, I appreciate that, Justin. Any questions concerning the April 11th meeting, anything that needs to be added from the team or from the commissioners? Chair, I have one item to move up from under review. I don't know if you want me to address that now or once we get to the under review section. Now works for me. Great. So it's item five in the under review chart, the review of a draft promotional bonus regulation out of Ohio that the commission wanted to look at and consider you want to make any amendments to your regulations related to promotional offers. So it would be discussion only, and then we can see how the commission feels. And if you'd like us to draft a regulation and come back with that at a future meeting. As the commissioner O'Brien. Yeah. So this is something that I had asked to bring forward when Ohio was doing it. I think fanatics is the most directly impacted. So I know Carrie, you said they were still taking comment in Ohio. So my only question is, is Ohio, how did they handle comments? Like, do we potentially get access to those as well? Or we're running parallel to them so that we would be getting stuff here before we knew what if anything was submitted to Ohio? We can certainly ask them to see whatever comments they've received. Right. That'd be great if you can do that as well. Would you want that as part of the review next week, part of the packet materials for next week? If we can, I know it's short notice though, because I know you've got to get it so we can compile it before we close the business tomorrow. So probably not in time, but if you can get a sense of whether it's voluminous or not, that would be my only question on whether we should bump it off the 11th. If there's a lot that Ohio already has, it would seem like putting a car before the horse to put it on for the 11th, but... Sure, okay. I'll check in and I'll circle back with you. Yeah, great. Perfect. And thank you for that background for Cheryl Bryant. It's very helpful. We'll plan on moving that up with a plan of maybe bumping it if we have. All right, we're going to move to the... I'm going to call it April 25th, though I understand that we may move it. Council, you have something. Thank you. I actually, I'm going to yield to Dr. Lightbound. I think I saw her hand raised before mine went up. Dr. Lightbound. Thank you. Steve O'Toole from Bainridge would like to add a request for the 11th for their certain wager and I'll get the wording into the commission for that. All the different types of wagers have already been approved by the commission, but they need to come forward and let us know which one they're using. So that's what this is for. I think we probably have time for that, right Grace? Judy? And then Chief Kane and I would like to bring forward some Baccarat rules for an update. So it will be three sets of rules, but all reflective of the same changes. So we're anticipating a fairly short presentation, but are happy to meet with commissioners in advance to talk the rules of the game if necessary. The most fun part of the job is learning the rules of the games. So I think we have room for that too. Commissioners, anything else? Any questions on those matters? All right. Now I'll move to what we're calling April 25th, realizing it may move a day or two, depending on the situation. Executive Director Serpa, should we hold time for you to deliver an administrative update on that date? You're on mute, but I'm getting a yes here. All right, thumbs up on that. Appreciate it. Thank you. Thank you. I'll go ahead and say that Judy and I will hold time to present some minutes. Okay, I'm getting a yes from Judy. Commissioner Hill, given all the legislative work that's going on, we should probably hold that, right? Okay, that's a yes from him. Councillor Grossman, do you anticipate any regulations or any other legal matters up for review that day? I'm not sure right now, unless anyone has any, we might have to come back to you on that. I don't have any as of right now. We'll always make it work if you do.  Again, if the date changes, we may come back to you, Crystal, and see if you have anything. Chief Delaney, will we have anything to review from you? We will. We're expecting, I think, 10 applications to come in front of the commission, but we'll button those down when probably next agenda setting, the exact numbers. Got it. Thank you for that. All right, research on responsible gaming. Director Vanderland and Dr. Bonnie Long. Looks like we have a casino jobs quality report, a discussion about our participation as the MGC in the National BSC program, and a game sense quarterly update. Correct, we will be ready for all of those. And I believe the job quality report is done and ready to go, and if that is the case, I'll make sure that commissioners get that as soon as possible, so you have plenty of time with it. That's appreciated. Thank you, Mark. All right, let's move on to under review. We have a list of about 13 items. I'm sorry, could I add something to the 25th? Absolutely, I didn't even open that up. Who needs to add to the 25th? If we could hold some time, so depending on how the conversation goes on the 11, about the IEV as a party or a witness, we will potentially be ready to bring some items back on the 25th for the commission to decide how it wants to proceed. And those in particular are the items that are currently being held, being investigated but held in advance on the adjudicatory hearing front until the commission decides. So if we could just hold a block there, that would be helpful. So we may have some follow up from the meeting. All right, do we have anything else on that late April date? Anyone on the team or any of the commissioners? Okay, I'm saying none. Thank you, Director Monaghan for reminding me that I did not open that up. So we'll go to under review now. The IEV review process. We wanna keep that under review? Yes, please. All right. Yo. Yeah. I'm gonna ask you a direct question here. I think we have addressed the IEV issue with our operators. So I'm not sure why we keep it under review when we basically have asked them to reach out to who they need to and they have. So I'm trying to understand what it is that we need to do with this IEV issue at this point and why we would keep it under review and not just take it off the list. Yeah, I think what we're trying to do was take a look at all of the things that our regulations say about IEVs and how we're supposed to be reviewing these. And I think there was some talk of perhaps having our ILOVs themselves come in to report to us on what they sort of feel like the status is. So we've been kind of bouncing around a couple of ideas but we really haven't narrowed those down. But I think, you know. Well, this has been on our list for a long time. It has been on for a very long time. So we'll work offline and see if we can't come up with some ideas to get this off our list. Yep. Thank you. Sounds good. Just let us know when there's a determination. Commissioner O'Brien, Compliance Committee. Yeah, so I've got a circle back with Todd. We did a meeting, oh gosh Todd, probably six months ago or greater after Jacqueline left, but quite a while ago. So now that we're sort of getting moving forward, Todd, I just have to circle back with you, pick a time to get that going again. Yeah, sounds good. Well, we appreciate that, Commissioner O'Brien, your work on that. Commissioner Skinner and Joe, the HCA compliance update for all properties. Yeah, that work is still ongoing. Commissioner Skinner. Agreed. You should stay on for now. Thank you. Sounds good. The ESA Broadway EVH matter, Joe. Yeah, we haven't heard anything back from Encore recently on this. We've reached out a couple of times to look to start getting documents and things. But as of right now, we have not gotten anything from them. We still do need to move ahead on the Section 61 findings that we need to do. So we're going to be reaching out to A and K on that. That sort of happens separate and distinct from them coming into us for a permit. Got it. Understood. It's a process. And as most of the work that you do, Joe, is a process. And we got a process guide to do it. So that's good. We talked about Item 5. Obviously, it could be the 11th. We may kick it, depending on the information Cary gets. The multi-factorial authentication regulation. That could be related to a conversation we even had earlier, Cary. Yeah, if we could keep that under review for now, I think we'll plan to have a similar sort of bringing forward for discussion only with the draft Ohio regulation. I'm not sure where they are in process. So I'll check in on that one as well. But if we could keep that under review for now, we'll add it to a future meeting. Pressure on Brian? Yeah, no, I was just wondering, the chair, Judd Stein, had brought this up. That's probably why there's no commissioner attached to it, too. So yeah, just that's where that came from. I think those came out at the same time. I flagged one, she flagged the other. So yeah, same request, I guess, is do they have any feedback on it, Cary? Would you like to own that now? So am I after the semicolon? Are we adding a semicolon? Yeah, you can put me after. Thank you, Commissioner Brian. Let's see, we have something about the DPH report here. Who owns that? I'm giving you the background on that. If you'd like, Chair, that also came forward from Chair Judd Stein. She had been working with the DPH on this. I believe she had said she was going to pass it over to commissioners Hill and O'Brien. So I'm not sure if that took place. She she had made an introduction, Commissioner Hill and I, she had made an introduction with us to the commissioner. So we have who had reached back out to us. And so we were going to set up a time to go over there as well. Start a conversation. Perfect. So there's another one, Commissioner O'Brien, Commissioner Hill. Chair Judd Stein left us a lot of gifts over here. So we're going to unwrap them. The sports wagering operators quarterly reports Crystal, all good? Yes, assuming that you guys want to continue the cadence and do those quarterly reports. I just want to make sure you want separate meetings for those again, or do you want to try to tie them into future meetings? And I'll work with Grace on that. But if you could give a little insight, that'd be great. Commissioner, we've been asked to answer. Do we want to continue them as separate meetings or do we want to integrate them? Sure, I think because there are so many of them, the last time we reviewed these under separate meetings, that worked well. So I would propose we continue that. We do have, as a reminder, two operators who have ceased. So there would be a three and three. So they'd be pretty short. But that's why I just want to make sure. And then I'll coordinate those dates with Grace for your calendars. Truthfully, I wouldn't be opposed to having all six of them be completed in one day if that works for others. I think so. I think the last time they were an hour and a half for the four and four. So probably be pretty short still. So I'll work with Grace on that. Commissioner Hill, are you good with that? I had nods from everyone else, so good. Give me the thumbs up. All right, the evaluation of the game sense program. Director Vandalinen. Yes, that is moving that and the one below it, the advertising report or both. Drafts of them are moving their way through the review process with our research review committee. So I want to keep it under review, but it'll be relatively soon here. OK, thank you. Thank you for that. We'll skip down to Commissioner Hill and Derek Lennon. We'll keep that under review at this time. And for the record, that's the discussion of procurement thresholds. Hi, Derek. Sorry, pop up. The PPC beverage license renewal issue was Kara or anybody from our team. Kara is on vacation this week, well deserved. So the PPC beverage license is going to expire in June. And per reg, we will need an adjudicatory hearing earlier in June. It's expiring towards the end of June. We'll need an adjudicatory hearing in the front part of June to review and potentially approve the renewal of that full license.  So I can work with Grace and Kara on getting a meeting, a separate adjudicatory hearing, on the schedule in early June. Sounds good to me, commissioners. Everything good with that. We'll work with Trudy and get some dates on the calendar that will work with all of us. I'm actually going to kick item number 13. I went back and watched the meeting last time and kind of was reading some of the feedback in the room. I'm going to continue to bring minutes. If something happens and one of my fellow commissioners or legal has an issue with what I'm bringing, being in conflict, then stop me, right? And we'll make a decision and a termination then if that works for everybody. If not, the elections come up in June this summer. So that's what I was thinking. Is that good with everyone? All right. Yes. All right. Councilor Grossman, good with you? Yes, that makes sense. Absolutely. All right. Anything to add to under review? Central. I have three. One of them is date specific, which is the independent monitor. We are closing out year five. It would be August. Would be the end of the five years, which is the license condition on win. I've communicated with Alejandra and team. They asked for the cadence of meetings in May. They said at this point, it looks like the May 23rd meeting, they could make work to come in for what would be the contractually required report to us. So we just set out that cadence in this meeting. So if we can put that on as one of the items for the 23rd, they need to change it. Obviously they usually, they usually give us the report at least a couple of weeks in advance, so that if anybody has questions prior to the presentation, we have time to do that. The other two things that I wanted to get on in some fashion are the waivers that we have out there. And Crystal and I spoke about this yesterday. Some of the waivers we voted on, I believe at the last meeting, and they're set to expire in either July or end of August. What I'd like to do is work back from the expiration dates and make sure they get on the calendar so we can get an update on the technical compliance status. So we've been getting waivers in terms of it's difficult to do. We are finalizing the language. I'd like to get more of a briefing. And I know it may have to go into executive session if you're going into the details of their technical issues, but I would like that out there. Probably would fall sometime early June would be my guess, given where the waivers are, but I'd like to get a better understanding of the data privacy reg and where they are on that. That makes no sense. The last one would be, I raised this at the last meeting in terms of the AI, the letter that Senator Blumenthal had sent out that a number of our licensees will be submitting materials back by the 8th of April. So I'm looking to get us something on our calendar as well. And maybe it's still under review because I wanna talk to Mark. I know this is something Mark is working on in terms of, you're looking at the research, what is it that we wanna do in terms of risk identification and intervention? So I just would like that topic under review as we go forward. Makes a lot of sense too. Director Vander Linden. Yeah, I introduced this in the meeting on February 28th. I brought the AI results from the AI RFI as well as some other background. And one of my recommendations was that we, kind of like Senator Blumenthal, kind of find out what our operators are currently offering in this space and just get some more background information. And I think I said either like, whether that needs to be executive session or around table or at some way, I think that we just need to get a better handle on how this is being used within their companies for responsible gaming purposes. We'll add that to under review. There's a couple other things. Well, let me first check with my fellow commissioners before I had a couple of things. Mr. Skinner, Mr. Hill. I thought we had a really extensive conversation in our last public meeting about the limiting wagers. I know Commissioner Skinner was kind of one of the first to bring that issue up. And we appreciate that. Should we work with sports wagering and research and responsible gaming? Because I think it's partly their issue too. And anybody else I'm not thinking of, to set a time to do, I was thinking a round table with an option to go into an executive session is kind of depending on what they say, obviously, right? Should we go ahead and schedule that out? And we wanna schedule it as a separate meeting or tag it on to another meeting, obviously knowing it's gonna take some prep work. I would think it would be separate. I mean, if you wanna do round table with all of them coming in and options for executive session, that'd be a lot to tag on to a meeting. Yep, I'd love some too. That's great. Okay, Commissioner Skinner, are we good scheduling that out? All right, so we'll get that on the schedule. The other thing is, and I know we talked about it and my memory is just failing me. Commissioner O'Brien, I love the idea about the fixing the seal to illegal operators. I think Justin, maybe working on a reg for that. The reg is fine. Yeah, Justin reported that we're fine on the reg. We're in the design phase, I think it would be a nice thing to do. We are in the design, yeah. It's with Dave Souza to work with, I think we have an outside vendor, right, Tom, on this. Yeah, that's exactly right. We're our outside vendor who is in the process of finalizing our annual report. The next thing they're gonna be working on for us is this, so we'll have something for you. In short order, I think it's fair to say, right, Dave? Yep, Dave, it's sort of been brought to their attention and I think I'm gonna dig into it once we get this annual report finished up, which we just submitted our request for our final copy. So hopefully that should be soon too. Thank you for that, Dave. Thank you. Grace, Dave, Mills, Crystal, everyone who works on the annual report, thank you for what you do. We know it's tough. And it's always a great product. Commissioner O'Brien, is it fair to say we really shouldn't add this under review then? We really like you're just gonna update us as we go or do you want to put it out? Probably not a bad idea to either give it. I don't know, you guys, Tom and Dave, you probably have a better sense of timing whether we put it on sort of end of May placeholder or do we keep it under review and you can alert us when we have something to look at. I think end of May is probably safe to say but what I'd prefer to do now is just keep it under review and then maybe after Dave has one more conversation we'll have a little bit of a better sense. Okay, that makes sense. Yeah, I agree. I can't imagine it would be ready after the end of May but I think that playing it safe like that is a good call. Sounds good. We'll do that then, we'll add it under review. What would the plan for it to be at the end of May? All right, anything else to add to under review from the team, from the commissioners? It's not under review, but I realize as we're going through the calendar, marks the responsible gaming conference that we're doing as an agency on the 14th. We should probably have as a placeholder for all of us as well. Right, yes, May 14th all day. Yep. All right, and do we have that on the calendar right now? I'm sure we do. I thought it was added to each of your calendars. All right, yeah, we'll add that too. Anything else? All right, any commissioner updates? Any business that we did not anticipate when we posted? All right, with that, do we have a motion to adjourn? So moved. Second. All right, so motion from Commissioner O'Brien, seconded by Commissioner Skinner. We'll call to order, I mean, we'll do the roll call. Commissioner O'Brien. Aye. Commissioner Hill. Aye. And Commissioner Skinner. Aye. Yes, adjourned. Thank you, everyone. Have a great rest of your day, and I'll see you at one o'clock for those joining.


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Look what happened to my lamp! Oh, is that the one you always have on your desk? Yes, it was a present. One of the office cleaners broke it. I'm sure you can fix it. But I'm so mad! It was so beautiful! Go easy on them. I'm sure it was an accident. Yeah, you're right. And you gave me an idea for a grammar lesson. Great! Tell me about it! Aha! I want to talk about the imperative form. And you just gave me another example. You're welcome. Imperatives are like commands, aren't they? What did I say? You said, go easy on them. Notice that sentence has no subject. But we understand it to mean you should. And I meant you should not treat the cleaners too harshly. What is the other example? You said, tell me about it. That also has no subject. But I understood it to mean I should tell you about it. And I should go easy on the cleaners. They have a hard job and we should thank them. That reminds me of a song. And that's everyday grammar.


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Rwy'n dechrau i siwr yng Ngindogol, sy'n gweld wrefriaeth analeysu hyffordd iawn, y ffordd dylwgen i roi'r ffordd a'r rhan o'i dod i'r pwyllteisio sy'n gweithio ymweld y tro mwy fyrdd y cyfnod, y mae yw cyfnod, ac wrth gwrs, sut amlwg cyfeirio a'r prinsenol yw i'r prinsirau arlau, so that they make less of an impact on the climate and on the way we use resources in the longer term. I'm now going to hand over to Ramesh, who is the head of the Jannagra Centre for Citizenship and Democracy, and who is now going to introduce our second distinguished speaker and to chair much, if not all, of the rest of the session. Thank you, Tony. We have a full session today, and we are already running a few minutes late. So without much ado, I just want to make a couple of comments before I hand off to Mrs Dixit. The first is at the end of Nick's extraordinary presentation, he talked about the need for change and the need for leadership, and much of the leadership will come from our political institutions and they are going to be the central actors in making this change happen. And as far as the theme of cities are concerned, we have, like most other countries, a complex political tapestry in India. We have a federal system, multiple organisations, multiple political institutions, not very clear lines of demarcation between how these institutions at the local, state and federal levels interact with each other, especially on such a complex subject as the environment and climate change. And probably Delhi is among the most complex of these ecosystems, just given the number of political institutions that are there in Delhi, both at the union government, we have the state government which is headed by Mrs Dixit, we have the Delhi Development Authority, the municipal corporation of Delhi, the Delhi Contourment, the New Delhi Municipal Corporation, and these are just a small handful of agencies that are responsible for the destiny of that city. I will now hand over to Mrs Dixit to hear about her views as one of the central leaders and the work that she's been doing and her vision for how cities and states can address the issue of climate change. Mrs Dixit needs no introduction, she's the chief minister of Delhi. Importantly, the first chief minister of that state to have been elected for a second term, so clearly re-elected with a popular mandate, has done a lot of things to address the issue of climate change and bring women in. She's represented India at the United Nations as well. So Mrs Dixit, over to you. That's all right. Thank you. A very good morning to all of you, very distinguished participants to this, what I would consider a very, very important meeting organised by the London School of Economics to discuss climate change and what our collective and individual contribution towards this can be. I'd especially like to thank Mr Birdit for having invited me and Mr Stern for having given this very wonderful and lucid presentation. When Mr Birdit wrote to me, he asked me three questions around which I assume that he wants me to speak. First question was what were the challenges that I saw in front of me nine years ago when I came into, first time into government. The challenges were enormous at that time. Delhi was a city or looked like a city which was going to decay under the weight of its migration which is about half a million people every year. A city which was going to disintegrate because there seemed to be no one agency as has already been mentioned here which seemed to be responsible for what is happening to Delhi. The federal government sits there. We have an elected government which I represent. We have a municipal corporation which looks after about 97% of Delhi's municipal work. It has a very small, with a very efficient New Delhi municipal council which does not have an elected body. It's a nominated body. It has the cantonment board which looks after again a small part of Delhi. But the government which I am supposed to represent and the municipal corporation of Delhi, my government looks after practically the whole of Delhi. Not practically, it does look after. It's supposed to be in charge of that. And the municipal corporation of Delhi looks after 97% of municipal administration. It is an elected body and which is not directly under me, that is the state government. It comes under two ministries of the government of India, the Urban Development Ministry and the Ministry of Home Affairs. So it's a very complicated system that we work in. In a complicated system it's very easy to pass the buck. I cannot do it because somebody else will not allow it. Or why should I feel motivated because it could be somebody else's job. However, when we came into governance in 1999 practically because it was December 98 when we formally took over, we found the situation absolutely horrifying. One Delhi was about the most polluted city in the world. It was not as developed as other cities which it would like to compare itself to. London, New York and even Bangkok and Malaysia and Singapore and all. It has enormous amount of money. It is a heritage city. It's a beautiful city. It's a city of poverty but not the kind of poverty that you find in the rest of Delhi, of India. So there are poor people. There's a tremendous shortage of housing because it's almost impossible to cater to half a million people coming into the city. And because there is a shortage of housing, either houses are developed by the land mafias on unauthorisedly constructing colonies where there is no availability of the basic civic services or the service providers of the city settle down in what we call the slum areas, what you call the slum areas and what we call the Chagijopri clusters, a site which is familiar in Bombay also. Now, so our first priority has to be how we can give decent living accommodation to all those who not only live in Delhi but who also come from outside Delhi. Can we make holding areas for the construction labour that comes into Delhi so that they can live under a decent roof, have some drinking water, have electric supply and minimal cleanliness at least and sanitation? Now these, to me, still remain the challenges of Delhi because unless we are able to cater to these 40 million, we are 16 million in Delhi and out of these 16 million, at least 4 million people live in these kind of conditions where they do not have proper housing, proper sanitation, proper drinking water and proper power supply. If out of the 16 million, 4 million are going to live in that condition, that city is going to find it difficult to come up to the standards which all of you are going to talk about and discuss. But I'd like to share now the happier side of the picture that in spite of this, in spite of Delhi having no natural resources at all, not even a water resource, it has managed to grow up into a city which changed its transport system, its public transport system. The only city in the world which has a fleet of vehicles, particularly public transport, in fact all public transport, whether they are taxis or the tuk-tuk's or whatever it is, which is driven by the CNG gas and that is about 100,000 vehicles because before that the emissions coming from diesel and petrol, which was not of the kind of standard that we have today, the Bharat III and the Bharat II norms, the Euro II and the Euro III norms, it was awful, the smog was just awful. So one step which contributed towards easing Delhi's environmental concerns was this introduction of the CNG fuel for public transport. Then there was the introduction of the metro which came around the same time. Today we have about 80 kilometres or 72 kilometres of the metro running around Delhi, absolutely a clean system, no emissions whatsoever, which is going to by the year 2010 become about 200 plus kilometres. That will make an enormous change. Thirdly, we started increasing our green cover. Our green cover was a mere 37 square kilometres in 1998-99. Today we can with humility but with pride share with you that it is over 375 square kilometres of green cover in Delhi. That's why we boast of the fact that Delhi is one of the greener cities of the world and certainly the greener city in India. We also have originally in the topographic of Delhi about 300 water bodies which were ruined because the land mafia took over them, filled them up, started building over them or the water dried up and nobody could take care of that. We started a campaign about four years ago, three years ago, when we said that we must restore as many as we can of these 300 water bodies and I'm happy to share with you that today about nearly 200 water bodies have been rejuvenated and are great sources of water supply, washing and giving underground water to the areas where they are. How did this happen? In the kind of multiplicity of authorities that we have, the kind of pressures that we had, the kind of a society that most societies are selfish, looking only at their own achievements or their own requirements, not bothering about the others, an enormous wastage of electricity, enormous wastage of water, enormous and shameful theft of electric power, shameful wastage of water resources that if a tap is kept, particularly if a community tap is kept leaking, it goes on leaking the whole 24 hours of seven days a week or months on end, water keeps flowing out, a Yamuna River, which is supposed to be the lifeline of our city, completely devastated because it's highly polluted, not only because the sewers that come in from the city itself, but also from industrial units and Delhi has been a great trading centre and a great industrial centre also. So these were the challenges that we found in front of us. How did we overcome many of them and are on the way for making people realise how they have to conserve water, how electricity has to be conserved, that you cannot have consistently a growth of 9% to 10% every year or electric power users, you have to stop somewhere that growth because we cannot put up cool plants in our city because they are polluting, we have to borrow power from outside and power is not easy to get. My first lesson which I learnt, can I have a glass of a little bit of hot water please? Thank you. Somebody will do it. A little hot water. I'm terribly sorry. This is the climate change taking place in Delhi. Thank you. The first lesson I learnt when I became the chief minister of Delhi was by a farmer, an undereducated farmer who came to see me and told me, I will first say it in Hindi and then translate it for you in English. He said you will never overcome the power problem. So I said why? He said for the simple reason that wherever there is a heater, there is no meter and wherever there is a meter there is no heater. I thought it was the simplest explanation how people exploit something that they know is for free. And then dawned upon me that the reason why Delhi's electric power consumption goes on rising at the rate it does is that nobody wants to pay for it. Nobody has to pay for it. Nobody is asked to pay for it. It's so easy to hook on a wire and thieve the power. It's so easy to put on a community tap and let it run the whole day because you're not having to pay out of your pocket. So let the water just run away. Good clean water.  Good clean treated water. So we started a campaign of how do you conserve energy, water, transport, petrol, et cetera. And how do you contribute towards personally making Delhi into a greener and a cleaner city. So we started this movement and as a government you know movements are not always successful because people by and large are suspicious of governments. The governments are always considered as those who are ruling and therefore far away from those who are ruling. We started a system of development through partnership which we in our language called Bhagidari. It was an interactive system between our bureaucracy because eventually we, you and I, political people may have lots of grandiose ideas, we have good dreams, we have wonderful aspirations, but the implementation has to be done by the bureaucracy. So we started by making that bureaucracy which works in a kind of closeted framework with directly with the people. The people to understand what are the constraints of a bureaucracy, how it functions, what are its responsibilities. And for the people to understand, and for the bureaucracy sorry to understand, that when people come to us looking for succour, either health or they come to us looking for education or they come to us looking for more water or they come to us looking for a better road, don't shoo them away, don't shy away from them, listen to them. They probably have a suggestion which you do not know because you are planning inside an office, a government office, which is closed, interact with them. If a community or an area thinks that a road is much more important than fencing a garden, then please do the road this time, you can fence the garden in the next plan or the next year around. So this interaction between the people, the bureaucracy and of course the political leaders helped us enormously. And Delhi received in the year 2006 or was it five, the United Nations award, best award for the best governance, new practices in governance in the world. Now thank you, thank you for appreciating this, but I say this with a great sense of humility. Now we went forward and today Delhi does look a cleaner city, it certainly looks a green city. Why does it look a green city? We plant one million trees every year, but when we came into government we found that one million was a figure which was there in the papers, this department did that much, this department did 100,000, this department did that much. Now the logical conclusion was that if over the past so many decades, Delhi had been green at this rate, we should have had far less people and more trees in Delhi, but that was not the case because the figures were official figures. So we involve people, we involve school children. Today in Delhi we have about 1800 eco clubs running in our schools where the children grow trees, nurture plants and in our government we do not gift each other with flowers, we gift each other with plants. And you see, I proudly say that every Delhiite now has a green finger. The challenges in front of us remain exactly what they were when we took over because shortages are there, demands have written, we are speaking about developed countries and underdeveloped countries. The developed countries were probably reached a pinnacle of their demands, but the developed countries are still aspiring. We are still fighting to get to the standards of Europe, of America or even the Southeast Asian countries. And our demands are much more because we are much larger, we are much bigger, we know that we are aware that our glaciers are melting, we are aware of all these things, we want to get credit carbons, but so the challenge is the same as it is anywhere else in the world. The nature may be somewhat different. We also will be very proud of the fact that one of our own citizens who runs Terry was given the Nobel Prize this year for his work in climate change. The nice part of it is that people are beginning to feel aware that you cannot draw water out from under the earth without putting some water back. Water harvesting is important. You have to use solar panels to heat your water and the other big consuming electric power systems. That is happening also. Therefore there is an awareness, perhaps it's not as enough as it ought to be, but awareness can only come around if we also emphasize production as much as we emphasize on conservation.  The winter pattern has changed, the summer pattern has changed, the monsoon pattern has changed. The fuel, we are going to try and bring a monorail in Delhi so that we can have a clean system of travel, added on cleaner system of travel, but Delhi is difficult. It's a tough city, it's a herited city, it's got layers upon layers upon layers of growth over thousands of years to make them all modern, to change them all for the requirements of a modern clean city. A city which will contribute towards making the climate better for humanity and for all the animals and the flora kingdom, I think that would be our greatest contribution. We are aware of it, you'd be surprised to know that Delhi has at least a variety of 100 to 150 trees. It has a variety of birds which could run to 100 to 125. We have two parks which are biodiversity parks where people are learning things. So we are moving, but I sometimes wonder, is it fast enough? What we are doing, is it enough? Or is everybody getting involved in it, becoming aware of the responsibility that each one of us has, not only as a government, as a society, as scientists, as leaders of their communities, but as NGOs to make a better world for the future generations to come. Thank you very much. Thank you Mrs Dixit for talking about the challenges of political leaders in taking this important issue of climate change forward and also for sharing not only the issues of vision, but how do you bring the entire city, the residents of the city and various stakeholders to also participate and take ownership over the future.