Danish regulator begins video game gambling education effort iGamingBusiness · June 12, 2019 at 9:06 pm Danish gambling regulator Spillemyndigheden has launched a new initiative aimed at improving public knowledge of gambling linked to video games, namely skin betting and so-called loot boxes. Spillemyndigheden has seen an increase in the number of parents contacting the regulator over concerns related to skin betting and loot boxes, it said, with many that do get in touch having limited or no knowledge of such activities. Loot boxes offer random rewards and can be acquired by players either through gameplay or by spending real money, while skin betting allows gamers to use virtual items from the games as collateral for wagering.
Gamesys agrees to GC settlement over AML and SR failings iGaming Business · June 12, 2019 at 5:58 pm iGaming software developer and operator Gamesys Group has agreed a £1.2m (€1.3m/$1.5m) settlement with the GB Gambling Commission after it was found to have failed to prevent gambling harm and breached UK money laundering regulations. This followed an investigation by the regulator, from which it identified historical weaknesses that resulted in breaches of the 2007 money laundering regulations, and a failure to comply with Social Responsibility Code Provision 3.4.1. The investigation was prompted by reports from the UK police that revealed three customers used stolen funds to gamble between 2014 and 2016. Gamesys, the Commission said, failed to appropriately scrutinise these customers’ transactions to identify the source of funds and to determine whether the levels of spending were consistent with their risk profile.
Australia: Axe to fall on 500 jobs amid Star Entertainment profit warning Phil, G3 Newswire · June 12, 2019 at 5:57 pm Australian casino operator Star Entertainment will axe 500 jobs as it tries to balance a fall in international VIP gaming amid an $118m or three per cent cut to its forecast which saw its share price fall to a four year low. It is now forecasting full-year earnings of $555m due to the combination of weaker domestic growth and a 31 per cent fall in international VIP revenue. Star Chief Executive Matt Bekier said some ‘very large customers’ were spending just a couple of days at the casino, instead of a whole week as they usually did.
Looking Back at the 2019 Gaming in Holland Conference Gaming in Holland · June 12, 2019 at 4:44 pm Another successful edition of the annual Gaming in Holland Conference concluded last week in Amsterdam. In a packed venue, expert speakers presented on a wide range of topics: from future regulation to responsible gaming; from business innovation to match-fixing. Regulated online market expected to open on January 1, 2021 The regulated online market in the Netherlands is currently scheduled to open on January 1, 2021, said Netherlands Gambling Authority chairman René Jansen in his keynote speech. Unfortunately, Jansen was unable to give full clarity on the much-discussed “cooling-off period,” during which unlicensed operators who previously “actively” targeted the Dutch online market will be banned from applying for a remote license. However, detailed regulations are expected to be published before summer recess. Still, the KSA chairman did reveal that the definition of “active targeting” will be based – among other things – on the regulator’s previously published prioritization criteria. … [continue reading]
Casinos Important For Goa Tourism, Says Chief Minister Pramod Sawant NDTV · June 12, 2019 at 7:37 am Casinos are important for the tourism profile of Goa and cannot be written off, Chief Minister Pramod Sawant said Tuesday. He was speaking to reporters after attending a meeting of the state Tourism department. “There are a few tourists who come to Goa to play in the casinos. They are important from the tourism point of view. You cannot write them off. We need to do whatever activities are required to attract tourists to Goa,” he said.
Retail write-down sees Betfred post £40.7m 2017-18 loss iGamingBusiness · June 12, 2019 at 7:33 am Land-based and online betting and gaming operator Betfred has posted a loss of £40.7m (€45.8m/$51.8m) for its financial year ended September 30, 2018. The loss was largely down to exceptional costs in relation to the write-down in value of its retail business following the UK government’s decision to reduce fixed-odds betting terminal (FOBT) stakes from £100 to £2, effective April 2019. Despite this, the operator posted strong figures for the year, with amounts wagered up 6.4% year-on-year to £13.5bn. After customer winnings were stripped out, turnover amounted to £727.6m, a 14.7% improvement on the prior year’s total of £634.5m. The operator’s performance was boosted by the expansion of the retail estate in the prior year, Betfred noted, and growth in online customer numbers.
Melco Resorts to delist from Philippine Stock Exchange this week Inside Asian Gaming · June 12, 2019 at 12:57 am Melco Resorts and Entertainment (Philippines) is set to be delisted from the Philippine Stock Exchange as of this Tuesday 11 June after falling below the PSE’s minimum required threshold for public ownership. The delisting comes six months to the day since Melco (Philippines) completed the crossing over of shares from a tender offer aimed at increasing the shareholding of MCO (Philippines) Investments Limited. Melco (Philippines), which operates City of Dreams Manila, had previously been informed by the PSE on 14 May of its intention to delist the company this week due to a failure to reach the minimum public holding threshold for six full months.
Casino Admiral wants to open second casino in Lichtenstein Phil, G3 Newswire · June 11, 2019 at 10:52 pm Casino Admiral wants to open a second casino in Lichtenstein close to the border with Switzerland in Triesen. ACE Casino Holding AG, the Novomatic-owned operator behind the existing Casino Admiral Ruggell in Lichtenstein, also wants to open a location in the former Intersport building on the Austrasse 6 in Triesen. The concept was presented by representatives of ACE Casino Holding AG in front of the municipal council Triesen. With all the applications being prepared, the construction of the casino could be approved by the relevant authorities by mid-June.
Quezon City Council nods US$30 casino levy for locals GGRAsia · June 11, 2019 at 10:50 pm The Quezon City Council in the Philippines has passed a regulatory ordinance covering gambling operations in the city. It includes a provision that city residents should pay a PHP1,500 (circa US$30) entry levy per 24-hour period spent in any casino within the city limits, or PHP30,000 per year if such an establishment offers annual membership. That is according to a statement from Quezon City’s public affairs department, posted online on Monday. The BusinessWorld media outlet additionally reported – citing Quezon City councillor Franz Pumaren – that the ordinance had been forwarded to the mayor’s office for final approval. The news organisation also stated that – under the Local Government Code of the Philippines – the city mayor had 10 days either to approve or veto the ordinance.
Chow Tai Fook’s Henry Cheng steps down from SJM Holdings board Inside Asian Gaming · June 11, 2019 at 10:47 pm Henry Cheng, the Chairman of Hong Kong jewelry giant Chow Tai Fook, has stepped down from the board of Macau casino concessionaire SJM Holdings. Dr Cheng, who still holds a 9.606% stake in SJM’s parent company Sociedade de Turismo e Diversões de Macau, S.A (STDM) purchased by his father in the 1980s at the request of Dr Stanley Ho, is one of two departures from the SJM board alongside David Lan Hong Tsung. However, he will retain some interest in SJM matters with his place as a non-executive director taken by Patrick Tsang On Yip – the CEO of Chow Tai Fook who also happens to be married to Dr Cheng’s niece Selena Sun.
