Inside the Chinese tropical island dubbed the ‘Hawaii of the East’Alexandra Ma, Business Insider · April 21, 2018 at 5:10 pmChina is planning to transform an island the size of a small country into a sprawling hub for foreign investment, gambling, tourism, and luxury. Xi Jinping’s government announced its plans for Hainan last month. It said it would encourage the horse racing, gambling, and water sports industries to the island known as the “Hawaii of the East.” This is a big deal: The Chinese Communist Party bans its members from playing golf, prohibits gambling, and only allows occasional horse-racing.
Canada’s Stars Group to acquire Sky Betting & Gaming for $4.7 billionCDC Gaming Reports · April 21, 2018 at 11:31 amCanadian gaming operator The Stars Group Inc., the company behind the PokerStars brand, said Saturday it has agreed to acquire Sky Betting & Gaming in a cash and stock transaction valued at $4.7 billion, creating the world’s largest publicly listed online gaming company. The deal is the company’s largest since Stars bought PokerStars for $4.9 billion in 2014. Toronto-based Stars Group will pay cash and stock to private equity firm CVC Capital Partners and Sky. Analysts had expected CVC – sponsor of the English Football League – to take Sky public. In February, Reuters reported that CVC had selected investment banks to lead an initial public offering. CVC said it would receive around 425 million pounds ($595 million) in cash, as well as shares worth around 145 million pounds, in exchange for its 20 percent stake in Sky Bet. The deal is expected to be completed in the third quarter of… [continue reading]
ACT government urged to dump pokies for Canberra Casino plansDaniel Burdon, The Sydney Morning Herald · April 20, 2018 at 8:32 amA director of the Gambling Reform Alliance, Tim Costello, has urged the ACT government to abandon any proposal to introduce poker machines at Canberra Casino. Mr Costello said the government needed to abandon the proposed pokies expansion at the casino and “instead focus more aggressively on delivering the promised 20 per cent cut in pokies numbers across the territory”. His comments follow the government last week setting a one-month deadline on casino owners Aquis to provide key details of its redevelopment plans in the wake o legislating to allow the machines in the casino last year.
The Netherlands considers some loot boxes to be gamblingMCV · April 20, 2018 at 8:27 amSome loot boxes can be considered gambling, according to the Netherlands gaming authority. Which has in turn warned video game publishers to remove elements from their loot box systems that it considers to be addictive before June 20th. The authority looked into ten popular games, and judged that four of them were in violation of the country’s Betting and Gaming Act. It decided that loot boxes are games of chance, and that the contents had monetary value as they can be traded outside of the game. Therefore it is prohibited to offer these games without a licence. The developers and publishers are now required to remove any ‘addiction sensitive’ elements from their loot box systems.
British casinos & sportsbooks eye America’s untapped gambling sceneBusiness Matters · April 20, 2018 at 8:27 amBritish sportsbook William Hill has been around since 1934. In that time, William Hill has become one of the world’s leaders in sportsbooks and online gaming. According to Bloomberg, William Hill owns and runs over 25 per cent of all brick and mortar betting shops in the United Kingdom. Punters can wager on sports or play casino games in these shops. The company features even more casino games and sports betting via its website, and it attracts punters from all over England.
Singapore govt touts gaming oversight consolidationGGR Asia · April 20, 2018 at 8:24 amJosephine Teo, Singapore’s second minister for Manpower and Home Affairs, said there needs to be greater consolidation of casino regulatory functions in the city-state, according to local media reports quoting the official. Currently, Singapore has different regulations and agencies governing different gambling segments, such as casinos, remote gambling and slot machines operated by private clubs. “This piecemeal approach will not be sustainable or adequate to deal with the growing complexities of the gambling landscape and products,” said Ms Teo as quoted by the city-state’s Straits Times newspaper. Her comments were made at the annual Workplan Seminar of the Casino Regulatory Authority on Friday.
In Vietnam, a mega casino rises with the help of a Macau junket companyStraits Times · April 20, 2018 at 8:23 amAlong a 3km stretch of coastline in central Vietnam, construction cranes are digging up mounds of sand and rubble where the country’s biggest casino is set to open next year. When completed, the US$4 billion (S$5.25 billion) Hoiana project will extend across almost 1,000ha, and also include shops, restaurants, golf courses and water parks. Driving the project is Suncity Group Holdings, which has made billions luring high-rollers – mainly from China – to the baccarat tables in the Chinese territory of Macau.
Singapore casinos will face greater global competition, disruption, says ministerThe Business Times · April 20, 2018 at 4:32 amGiven the increasingly complex gaming landscape in Singapore, there is a need to consider greater consolidation of casino regulatory functions, said Second Minister for Manpower and Home Affairs Josephine Teo. Today, Singapore has different regulations and agencies governing gambling products such as casinos, remote gambling and fruit machines operated by private clubs, she noted at the annual Workplan Seminar of the Casino Regulatory Authority (CRA) on Friday. “This piecemeal approach will not be sustainable or adequate to deal with the growing complexities of the gambling landscape and products,” said Mrs Teo.
Aquis boss accuses ACT government of 17-month silenceInside Asian Gaming · April 20, 2018 at 4:25 amThe CEO of Hong Kong’s Aquis Entertainment Limited has accused the Australian Capital Territory government of leaving it in the dark for 17 months over an AU$330 million Canberra Casino development proposal. The accusation follows an ultimatum issued by the government earlier this week giving Aquis one month to submit a final proposal or risk losing the opportunity to install up to 200 slot machines in the property. In a statement posted on the company’s website this week, Aquis CEO Jessica Mellor said that it had received the official request from the government for confirmation of the its intentions in relation to the proposed redevelopment and would respond within the timeframe.
Macau issues cryptocurrency crime warning after link to former triad boss emergesNiall Fraser, South China Morning Post · April 19, 2018 at 11:41 pmConcerns over a Macau cryptocurrency firm backed by a notorious former gangster, and which has links to the company behind the Facebook data-mining scandal, have prompted monetary chiefs in the city to issue a warning over possible “fraud and criminal activities.” The warning comes in the wake of revelations that Macau Dragon Group, a firm associated with “Broken Tooth” Wan Kuok-koi, employed the British company, Cambridge Analytica, to promote Dragon Coin, a new virtual currency created to help gamblers transfer money to Macau casinos. Wan is one of Asia’s most infamous organised crime figures, and spent more than 10 years in jail for an array of gangland crimes including being leader of the 14K triad group in Macau.
