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Tuesday, July 31, 2018

Non-Gambling Investment Will Be Welcome on Boracay, President Duterte Spokesperson Says

Casino News Daily
Non-Gambling Investment Will Be Welcome on Boracay, President Duterte Spokesperson Says

New tourism projects would be welcome on Boracay when it opens after its six-month environmental cleanup, except casino resorts, a spokesperson for Philippine President Rodrigo Duterte has said in series of comments on the matter over the past few days.

Presidential spokesperson Harry Roque further told media during recent briefings that no private entities should challenge the President’s ban on developing casino gambling businesses on the popular tourist hub.

Boracay is undergoing an environmental rehabilitation after a review by environmental authorities found that multiple businesses discharged untreated water into the sea, thus polluting the surrounding environment and threatening the health of locals and visitors. It also became known that there were a number of illegal structures on the island, which President Duterte threatened to blow up.

Boracay was closed in late April and is expected to reopen for business on October 26. It has become clear from previous comments made by President Duterte and members of various government departments that the island might still look to attract international tourism. However, casino gambling would not be allowed, as repeatedly pointed out by the country’s top official.

The casino gambling comments have been made in relation to a recently announced project for the development of an integrated resort with a gaming floor. The project was introduced by Macau casino and hospitality operator Galaxy Entertainment Group and its local partner Leisure & Resorts World Corporation (LRWC). The two companies announced late last year that they planned to build a $550-million resort on the island.

They received a provisional license from PAGCOR, the Philippine gambling regulator, earlier this year and acquired a 23-hectare site where the property will be built. Commenting on Boracay’s closure and how this would affect their project, a LRWC official said over the weekend that the resort remained on track for 2021 opening, despite the island’s ongoing environment cleanup and the fact that no groundbreaking date has been decided on.

Casino Gambling a Vice

As mentioned above, President Duterte has been staunchly opposed to Galaxy and LRWC’s project and has reiterated his determination to stop that one as well as any other casino resort construction plan on the island from materialization.

The President’s spokesperson said in series of comments from the past few days that the official does not like casinos as they promote gambling, which is a vice and “contrary to good morals.”

The latest comments could mean that Boracay would still be open to business and international tourism after its cleanup is completed, despite previous statements made by President Duterte that the island could be subjected to an agricultural reform that would aim to return land to its residents.

The President has said that the government would have to decide how to determine who owns what portion of Boracay’s land and to make sure that the distribution of land would be fair.

The post Non-Gambling Investment Will Be Welcome on Boracay, President Duterte Spokesperson Says appeared first on Casino News Daily.

MGM Springfield offers first look at M life Rewards

Casino City Times
MGM Springfield offers first look at M life Rewards
New England's first integrated luxury resort and entertainment destination is inviting the public to experience the excitement of joining M life Rewards, MGM Resorts' loyalty program.

Caesars races to cash in on NJ, Mississippi sports betting market

Casino – CalvinAyre.com
Caesars races to cash in on NJ, Mississippi sports betting market

Casino operator Caesars Entertainment Corp. (CEC) officially joined its rivals in the sports betting market derby, right on the heels of one Atlantic City casino that has started taking sports bets this week.

Caesars races to cash in on NJ, Mississippi sports betting marketBally’s Wild Wild West have started accepting sports bets on Monday morning, while its sister casino Harrah’s Resort will open its doors to punters on Wednesday, according to CEC. This makes the twin gambling facilities the third and fourth casinos to offer sports betting in Atlantic City.

Bally’s temporary sportsbook operation inside Wild Wild West reportedly has 30 leather chairs placed right in front of three large television screens and five smaller screens. Bally’s has converted its shuttered cashier windows to sports wagering windows. Harrah’s sports wagering space looks quite similar to Bally’s, although Harrah’s only has 28 leather chairs, six high-top tables and five screens for viewing.

CEC also plans to bring sports betting in Mississippi by mid-August through its casino properties, Horseshoe Tunica and Harrah’s Gulf Coast resorts.

The casino operator’s announcement came a day after its rival MGM declared it will create a $200 million sports betting and online gaming joint venture with UK-based GVC Holdings, one of the world’s largest bookmakers.

CEC has tapped gambling technology provider Scientific Games Corporation (Sci Games) to provide its OpenBet sportsbook platform in New Jersey and Mississippi. CEC President and Chief Executive Officer Mark Frissora described its partnership with Sci Games to be strategic since the casino operator also plans to roll out mobile sports betting throughout New Jersey and Mississippi.

Frissora pointed out that the recent U.S. Supreme Court decision to repeal the Professional and Amateur Sports Protection Act of 1992 allows CEC to expand its “sports betting digital and mobile offerings into new markets.”

One of the advantages that CEC have against its rivals in Atlantic City is its experience operating sportsbooks in Las Vegas, according to Frissora.

“We recognize that our customers expect exciting new experiences, which is why we will continue to offer new products through our mobile and digital platforms and inside our properties,” Frissora said in a statement.

The post Caesars races to cash in on NJ, Mississippi sports betting market appeared first on CalvinAyre.com.

Genting Hong Kong trims losses in H1 FY18

Casino – CalvinAyre.com
Genting Hong Kong trims losses in H1 FY18

Business of Hong Kong-listed gaming investor Genting Hong Kong sailed smoothly in the first half of 2018, resulting in the company expecting its net loss to go down by at least 17 percent.

Genting Hong Kong trims losses in H1 FY18 In a regulatory filing, Genting Hong Kong estimated that its consolidated net loss for the first six months of 2018 to be around US$150 million to US$170 million. The estimate is lower than the US$205.4 million net loss it incurred for the six months that ended June 30, 2017.

Genting’s optimism boiled down to the improved business performance of its cruise segment for January to June 2018 period. If not for the lower cost capitalization in the shipyards, Genting said that its net loss might have been lower than its expectation.

However, the Hong Kong-based firm noted that it did not take into account the group’s share of results from Travellers International Hotel Group, Inc. “as Travellers is a listed company on an overseas stock exchange and its results have not been announced.”

“The improved performance of the cruise segment is partially offset by a lower cost capitalization in the shipyards for the six months ended 30 June 2018 as the keel laying of the 20,000 gross ton Crystal Endeavor and the first 204,000 gross ton Global Class ships will be in August 2018 and September 2018 respectively, which will subsequently increase the rate of production and cost capitalization,” Genting Hong Kong said in a statement.

Genting Hong Kong, a subsidiary of Malaysian conglomerate Genting Berhad, is expected to announce its unaudited consolidated results for the six months ended June 30, 2018 next month.

The casino investor is one of the major operators that will be vying for a gaming license in Japan after the country’s Diet approved the Integrated Resorts Implementation Bill recently. In preparation for the casino bidding war, Genting Hong Kong decided to dispose all of its remaining 3.15 million shares in Norwegian Cruise Line Holdings Ltd. (NCLH) in June. The sale of NCLH shares, equivalent to a 1.4 percent stake, will take place in the next 12 months.

The proceeds from the disposal will also be used as general working capital and capital expenditure for the group and/or to fund new investments, “should suitable opportunities arise,” according to the company.

The post Genting Hong Kong trims losses in H1 FY18 appeared first on CalvinAyre.com.

Monday, July 30, 2018

Galaxy launches IR school for Japanese students

Casino – CalvinAyre.com
Galaxy launches IR school for Japanese students

A new program designed to educate students on the management of integrated resorts (IR) is coming to Japan and Macau. Galaxy Entertainment has partnered with Japan’s Toyo University and the University of Macau (UMAC) to introduce a “Japan-Macau Integrated Resort Management Mentorship Pilot Scheme” in anticipation of casinos coming to Japan beginning sometime in the next decade. The program is designed to give Japanese university students in-depth knowledge on IR management through month-long visits to casinos in Macau.

Galaxy launches IR school for Japanese studentsAccording to Galaxy, “[The] Mentorship Scheme is intended to identify and give the coming generation of IR professionals in Japan a first-hand look at what it takes to develop and operate the world’s most successful IR—Galaxy Macau.”

Participants will receive an education on the management and operation of IRs through a series of lectures and mentoring sessions. The lectures will be led by faculty members of UMAC’s International Integrated Resort Management program and the mentoring will be provided by Galaxy executives. They will cover areas such as Hotel and Hospitality, Food and Beverage, Corporate Social Responsibility, and Branding and Marketing. Additionally, mentoring will be provided on Retail, Organizational Development, Training and Human Resources.

Francis Lui, Galaxy’s vice chairman, said, “Together with the [Galaxy] Foundation and the support of University of Macau, we are very pleased to share our philosophy for sustainable and responsible IR development with what we hope will be the future home-grown leaders of IRs in Japan. As a group we are passionate about nurturing the next generation and in giving them the best possible opportunities for their future careers. We recognize that Macau, and [Galaxy], have both the vision and an opportunity to share its formula for success with Japan as it embarks on the path of IR implementation.”

Professor Jacky Yuk-chow, UMAC dean and Banco Nacional Ultramarino (BNU, a Macau-based bank) professor of finance, said that UMAC welcomes “the chance to support GEG with this program by making available our faculty members to share UMAC’s deep IR industry knowledge with the students from Japan.”

Galaxy is taking a unique approach with its offering that differs from some resort educational programs that are already in place at schools such as the Japan Casino Academy and the Japan Casino School. Those academic centers focus more on the casino floor operations, while Galaxy is promoting IR management and including non-gaming aspects of resort operations, as well.

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Player wins €179K at Casumo

Casino City Times
Player wins €179K at Casumo
A Finnish player managed to win a total of €179,669 with a single deposit of €100 spread out over eight days.

Poker Buddies Antonio Esfandiari and Kevin Hart to Meet in the Boxing Ring

Casino News Daily
Poker Buddies Antonio Esfandiari and Kevin Hart to Meet in the Boxing Ring

After some clashes at the poker table, poker pro Antonio Esfandiari and popular comedian turned avid poker player Kevin Hart are set to storm the boxing ring, Esfandiari himself told a TMZ Sports reporter over the weekend.

Delighted to be recognized by paps and asked about “some real juice”, Esfandiari said that he and Hart played poker the other day and “somehow boxing [came] up.” The two made a bet and agreed to step into the boxing ring to test their strength and will. The boxing match will take place “in March, around March,” Esfandiari told the TMZ reporter.

The poker pro refused to unveil how much money was on the line, but given both his and Hart’s estimated net worth, it should be expected that they have made quite a hefty bet.

Esfandiari further said that he is getting 35-1 odds in the upcoming bout, because his opponent is “in much better shape, he’s an athlete, he’s fast as hell”. However, at nearly 6 feet tall, the Magician, as Esfandiari is also known in the poker community, he has an important height/reach advantage. Hart stands at around 5’4″.

Esfandiari and Hart’s Careers

With three gold bracelets from the World Series of Poker and two WPT Main Tour titles, Esfandiari is one of the big stars of global poker. The player boasts live tournament earnings of over $27.6 million. That amount includes his first-place prize of $18,346,673 for taking down the 2012 $1,000,000 BIG One for ONE DROP and outlasting some of the world’s most seasoned pros, including heads-up opponent England’s Sam Trickett.

It is also interesting to note that he had been a professional magician before he started playing poker for a living, hence his nickname The Magician.

As for Kevin Hart, while he cannot boast with as many poker accomplishments as Esfandiari, he is one of the world’s most successful and praised comedians in the world. With estimated net worth of around $58 million, Hart ranks 39th in the Forbes 2018 Celebrity 100 Earnings list. His The Irresponsible Tour has been the biggest comedy tour so far this year with 1 million tickets sold, from which Hart grossed over $30 million.

Earlier this year, Hart became a brand ambassador for online poker room PokerStars, following his multiple appearances in different poker tournaments in 2017 and this year. The comedian and the globally popular poker brand said that they hope their partnership will change the face of poker.

Esfandiari and Hart excel in their respective fields, but it is to be seen who will emerge victorious in their upcoming boxing match. This will not be the first time poker players are clashing in the ring. Bouts have taken place between Bertrand Grospellier and Lex Veldhuis as well as between Brian Rast and Sorel Mizzi in the past few years.

The post Poker Buddies Antonio Esfandiari and Kevin Hart to Meet in the Boxing Ring appeared first on Casino News Daily.

Galaxy’s $500M Boracay casino on track for 2021 opening

Casino – CalvinAyre.com
Galaxy’s $500M Boracay casino on track for 2021 opening

Not even the six-month closure of the idyllic, Philippine island holiday destination of Boracay has stopped Macau-based casino operator Galaxy Entertainment Group (GEG) from proceeding with its $500 million integrated resort project.

GMA News Online reported that the controversial multi-million dollar casino resort in Boracay is on track for a 2021 opening despite recent reiterations from the Philippine government that the popular island getaway will remain casino-free.

Galaxy’s $500M Boracay casino on track for 2021 openingGEG’s local partner, Philippine-listed gambling operator Leisure and Resorts World Corp. (LRWC), pointed out that the six-month rehabilitation of Boracay has not affected its casino project in the island since they were able to finish what they needed to do prior to the closure of the island.

This included the purchase of 23-hectare lot in Barangay Manoc-Manoc, which was considered to be ‘alienable and disposable’ property, according to LRWC vice president for legal affairs Katrina Nepomuceno. Nepomuceno has not given a definite timeline for the actual construction of the brick-and-mortar facility in Boracay but she said that the original 2021 opening of the integrated resort is achievable.

“It is actually very helpful that the DENR is doing all of these the investigations, testing… We are actually getting feedback from the government about what’s in the island, identifying where the problematic areas are. It is actually helping us to build our plans. So hopefully when it reopens we can move along,” she told local reporters at the sidelines of the company’s annual stockholders’ meeting on Friday.

However, the LRWC executive’s statement quickly contradicted by Philippine Presidential spokesman Harry Roque, who insisted on Monday that President Rodrigo Duterte would never allow a casino to be built in Boracay. Roque warned that business firms shouldn’t test “the political will of the President on the issue of casinos in Boracay,” reminding both GEG and LRWC that the license that state regulator Philippine Amusement and Gaming Corporation (PAGCOR) issued to them was only a provisional one.

“Noting that the provisional license is not a license itself. It is conditional, it is provisional. It is subject to the happening of conditions which will never be fulfilled because the President has said he will not allow it,” Roque said, according to The Manila Bulletin.

In March, PAGCOR approved the construction of GEG’s integrated resort on Boracay after granting the group a provisional gaming license. GEG announced that it planned to start the construction of its multi-million dollar casino resort by 2019 and expected to be completed in three years’ time.

If allowed to proceed, Galaxy’s casino project would supposedly generate $100 million in revenue annually for the company.

The post Galaxy’s $500M Boracay casino on track for 2021 opening appeared first on CalvinAyre.com.

US casino’s app allows real-money gambling from anywhere, but with a catch

Casino – CalvinAyre.com
US casino’s app allows real-money gambling from anywhere, but with a catch

A casino in Auburn, Washington, has taken an innovative approach to increase its customer base and bring the action to the client. The Muckleshoot Casino, in conjunction with Playport Gaming Systems, is launching a new app that allows gamblers to purchase US casino creates app to allow real-money gambling from anywhere, but there’s a catchgames and place bets with real money from anywhere. While it sounds like it would be an enticing and viable solution to virtually anyone, there is one catch that might make things a little complicated—to play or collect winnings, the gambler must conduct the transactions while physically at the casino.

The casino will offer real-money games such as Bingo and others that aren’t played against the house. There are already a number of similar apps out there, but this is the first that requires a gambler to be present at the casino to deposit or to cash out. It is certainly a little more than inconvenient; not many would want to fly to Washington state just to make a deposit or cash out $300 in winnings.

Playport already has similar operations in Mexico. This will be its first casino-integrated operation in the United States, and the company notes that the games will be available directly from Playport’s point-of-sale and loyalty platforms.

Muckleshoot Casino is owned and operated by the Muckleshoot Indian tribe. As such, it isn’t subject to state laws. This is a bonus win for the casino, since a number of companies in Washington are currently facing lawsuits over casino-style games. Those companies, while not offering real-money gambling, are said to be in violation of Washington gambling laws, said to be some of the tightest laws in the country.

The games to be offered by Muckleshoot are classified as “Class II” gambling activities under federal U.S. law. These activities are only regulated by federal and tribal authorities, not by the state, allowing Muckleshoot a greater amount of leeway in providing the games.

Playport uses proprietary technology to provide a real-money gambling solution for casinos and lottery retailers. Through strategic partnerships with a number of partners, the company now operates in the U.S., Canada and Mexico. Playport has begun a push in the U.S., in particular with tribal casinos, and is a member of the National Indian Gaming Association.

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Sunday, July 29, 2018

Ireland’s Revenue Declares War on Dublin’s Illegal Casinos

Casino News Daily
Ireland’s Revenue Declares War on Dublin’s Illegal Casinos

Ireland’s Revenue has issued enforcement letters to a number of illegally operating casino facilities across Dublin giving them 21 days to remove gambling machines from their premises, The Times reported earlier this week.

News about the government agency launching a crackdown against illegal operations arrived after an investigation by The Times showed that a number of Dublin-based arcades have used their licenses to operate gambling machines, thus breaching a 1988 citywide ban on the latter devices.

Under the long-standing prohibition, no licenses for gambling machines can be issued to facilities located within city limits. However, The Times reported last month that a number of arcade facilities are violating that ban and are using their arcade machine licenses to operate gambling machines.

According to Revenue definitions, arcade/amusement machines are games that gives players the chance to win no more than an opportunity to play again or a non-monetary prize the value of which is worth no more than €7. The Times found that the gambling machines at some of the arcade premises across Dublin offered players the opportunity to wager up to €2,500 on casino-style games such as video poker, roulette, and blackjack. Such premises now have 21 days to remove all gambling machines or face seizure of those.

Industry Responds to the Looming Crackdown

The Irish Amusement Trades Association (IATA), which represents both licensed and unlicensed arcades, has responded quickly to the pending crackdown, saying that it was considering legal actions against Revenue’s ruling. The association has long been lobbying for the ban on casino-style gambling in Dublin to be lifted.

IATA General Secretary John Roche has previously said that Ireland’s current gambling laws are archaic and are violating directives of the European Union in relation to the provision of gambling services across member states. Ireland’s gambling industry is regulated under the Gaming and Lotteries Act which took effect back in 1956.

Irish lawmakers have been working for years on a piece of legislation that would replace the obsolete regulations, but not much progress has been made so far.

A Revenue spokeswoman has told The Times than any operator of gambling machines without the necessary license or using an arcades license to operate gambling machines would have their machines seized and would be prosecuted. IATA maintains that they can face down the taxman in court and even win, citing recent European Court of Justice rulings, under which any laws restricting gambling to certain areas in a given country should be reviewed if they are applied properly.

According to a 2015 study by Gaming and Leisure Association Ireland the issuance of arcade licenses is cheaper than of gambling machine ones and by favoring the former, the country is thus losing revenue. The study also said that of all 7,559 arcade licenses issued, around 5,000 were actually used for gambling machines that offered cash prizes.

The post Ireland’s Revenue Declares War on Dublin’s Illegal Casinos appeared first on Casino News Daily.

Saturday, July 28, 2018

Boracay Casino Resort Still On Track to Open in 2021 Despite Ongoing Hurdles

Casino News Daily
Boracay Casino Resort Still On Track to Open in 2021 Despite Ongoing Hurdles

A planned casino resort on Boracay is on track to be launched in 2021, despite the Philippine island’s closure for environmental rehabilitation, a representative of one of the companies behind the project told local media.

News emerged last December that Macau gaming and hospitality giant Galaxy Entertainment Group had partnered Philippine leisure and entertainment company Leisure and Resorts World Corp. (LRWC) to build together a $550-million integrated resort on the island of Boracay. It was announced earlier this year that Galaxy has received a provisional gaming license from the Philippine gambling regulator, PAGCOR, for the operation of a casino at the planned property.

At the same time, Philippine President Rodrigo Duterte ordered the closure of the island for a six-month environmental cleanup, following a probe into the environmental state of the popular tourist hub. The probe found that local businesses were discharging untreated waste water into the sea and that there were multiple illegal buildings across the island. Boracay was closed on April 26.

Responding to news that Galaxy and its local partner were planning to build a casino on the island, President Duterte has repeatedly said that he would not allow that.

Despite the President’s vows to prevent the plan from materializing and the island’s closure, LRWC is confident that the resort is on track to open by 2021, as originally planned. The company’s Vice President for Legal Affairs Katrina Nepomuceno said Friday that the environmental cleanup is not delaying the project as they were able to finish what they had to finish before Boracay’s closure.

It became known earlier this year that Galaxy and its local partner have obtained a 23-hectare site in the Barangay Manoc-Manoc area. Ms. Nepomuceno said that a land survey has proven that the portion of land was alienable and disposable.

Working Closely with Environmental Regulators

The LRWC official further explained that they have been working closely with the Philippine Department of Environment and Natural Resources (DENR), which is in charge of the ongoing rehabilitation process, as well as with other government agencies, and that they are getting updates on the process from the Boracay task force.

Ms. Nepomuceno also told media that they want to be sure their project is fully compliant with the government’s environmental requirements.

Asked when construction on the resort is expected to begin, the official said that they are yet to decide on the official start of the development process but that they believe the 2021 targeted opening is still achievable despite the island’s closure. Ms. Nepomuceno further pointed out that she is confident in the future materialization of their plan because President Duterte has said that he wants to keep Boracay popular with tourists and they are offering an opportunity for that to happen.

The LRWC official also said Friday that they are yet to receive confirmation from the Department of Agrarian Reform about a recently announced planned for Boracay to be placed under an agrarian reform that would aim to hand land across the island to its natives.

The post Boracay Casino Resort Still On Track to Open in 2021 Despite Ongoing Hurdles appeared first on Casino News Daily.

Ocean Resort Casino's upcoming events

Casino City Times
Ocean Resort Casino's upcoming events
The Atlantic City casino features a line-up of events, entertainment and guest amenities cater to a wide-range of interests.

Friday, July 27, 2018

Landing Int’l casino operations to start in March 2022 – PAGCOR

Casino – CalvinAyre.com
Landing Int’l casino operations to start in March 2022 – PAGCOR

Hong Kong-listed casino operator Landing International Development Ltd. (LIDL) may have to wait five more years before it starts its casino operations in Manila.

Landing Int’l casino operations to start in March 2022 – PAGCORState-run Philippine Amusement and Gaming Corporation (PAGCOR) confirmed on Thursday that it recently granted LIDL a provisional license for the construction and operation of its $1.5 billion integrated resort in Manila.

However, PAGCOR said that LIDL may only start its casino operations by March 2022 due to a standing 5-year moratorium on new casinos in the state capital. The existing integrated resorts in Manila had requested a casino moratorium in 2017 to allow the market the space to mature.

There are about 18 casinos in Metro Manila, 3 of which are operated and owned by PAGCOR.

Entertainment City currently boasts three active resort casinos – Solaire Resort & Casino, City of Dreams Manila and Okada Manila – while Travellers International’s West Side City Resorts World is planning a 2020 launch.

“In the Manila area, we listened to our investors. They gave us a position paper to give breathing space for the market space to mature in the NCR (National Capital Region) so we listened,” PAGCOR chair Andrea Domingo explained.

In the meantime, PAGCOR told LIDL to “comply with all existing limitations and ensure the continuing validity of all the requirements” and to complete its proposed Nayong Pilipino Theme Park before the regulator issues “the authority to commence its casino operations.”

LIDL, which operates the Jeju Shinhwa World casino resort on South Korea’s Jeju island, has tied up with the Nayong Pilipino Foundation (“NPF”) and the Philippine Department of Tourism (“DOT”) for the development of the multi-billion dollar integrated resort.

According to its proposal, LIDL intends to develop a family-oriented resort, which consists of a casino, an indoor cultural theme park featuring the Philippines’ rich history, culture and heritage, an indoor waterpark, Asia’s first indoor movie-based theme park, a world-class state-of-the-art convention center, luxury hotels, and international retail and dining.

On Wednesday, LIDL chair Dr. Yang Zhihui thanked PAGCOR for granting the project a provisional license, which is valid for 15 years.

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Simon Lam Takes Down Inaugural WPT Gardens $5,000 Main Event

Casino News Daily
Simon Lam Takes Down Inaugural WPT Gardens $5,000 Main Event

Simon Lam is the brand new member of WPT’s club of Main Tour Main Event champs. The player outlasted the 584-strong field of the inaugural edition of the WPT Gardens Poker Festival $5,000 Main Event for his first title from the popular poker series.

He collected a payout of $565,055 and a brand new 2018 Mercedes-Benz SLC Roadster (valued at around $50,000). The player also secured a $15,000 ticket into the season-ending WPT Tournament of Champions.

The final day of the WPT Gardens Main Event was played on Thursday at the Gardens Casino in Hawaiian Gardens, California. Lam came into that final day as the chip leader among a total of six survivors who comprised the official final table.

The first levels of the day saw poker pro Jake Schindler take the lead and extend the gap between him and his fellow contenders. Schindler then lost some of his momentum and what followed next was a fierce war for the chip lead between Men Nguyen and Lam. That war lasted hours and extended into three-handed play.

During that key and lengthy stage of the final table, the chip lead exchanged hands between Nguyen and Lam, and Schindler occasionally managed to double through his two remaining opponents to get ahead of them for a while. It was the elimination of Nguyen in third place that put an end to the mad three-handed race. The player collected $270,430 for his performance.

Heads-Up Duel

Lam was the chip leader at the time heads-up between him and Schindler kicked off. And the player never really lost his momentum, despite his opponent’s efforts to improve.

The two-handed match began with Lam holding 19.2 million in chips to Schindler’s 4.175 million. The two players battled it out for 11 hands until Hand #164 of the six-handed final table was dealt. It saw Lam raise to 600,000 pre-flop and Schindler call.

The [Js][7c][2c] landed on the flop. Schindler checked, while Lam bet 500,000 to see his opponent check-raise to 1.5 million. Lam spent the next 30 seconds thinking what to do next and eventually shoved. Schindler snap-called for his last 4.675 million, tabling [Jd][8d] for a pair of jacks. Lam turned [Jc][9s] for pocket jacks but with a higher kicker. Blank [3h] on the turn and [2d] on the river sealed it for Lam and sent Schindler to the rail. The tournament’s runner-up finisher collected $366,740.

Craig Varnell finished fourth in the WPT Gardens Main Event for $201,615. Saya Ono took home $151,995 for her fifth-place finish. Jared Griener went out in sixth place for $115,885.

The first ever WPT Gardens Main Event saw 584 entries who created a prize pool of $2,944,800. The top 73 finishers received a portion of the money.

The WPT is next heading to Choctaw Casino & Resort in Durant, Oklahoma for the second poker festival on its 2018/19 schedule. That festival’s Main Event take place on August 3-7. It features a $3,700 buy-in fee and a guaranteed prize pool of $1 million.

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William Hill U.S. appoints Sharon Otterman as chief marketing officer

eGaming
William Hill U.S. appoints Sharon Otterman as chief marketing officer

William Hill US, recently announced the appointment of Sharon Otterman as its new chief marketing officer.

MGM wants a piece of Osaka

Casino – CalvinAyre.com
MGM wants a piece of Osaka

Now that the Japanese government has approved the country’s Integrated Resort Implementation Bill (IRIB), casino operators are going to start pushing and shoving, hoping to gain a better position against the their competition. While some companies may feel that a soft approach is best to improve its status, MGM Resorts International went directly for the throat.

MGM wants a piece of OsakaMGM Chairman and CEO James Murren, in a conversation with Japanese media this past Wednesday, said that the company can make a “full contribution” to Japan only if it is allowed to operate in a major urban area. Murren specifically said that MGM wants Osaka. In other words, if MGM can’t have Osaka, they don’t want to be in Japan.

Murren, who was in Osaka to participate in the Tenjin Festival, continued to target Osaka for the operations. He told the Sankei Shinbun news outlet that “Osaka is the top” and declared to a local TV station, “I think Osaka is the perfect place for an IR.”

According to Murren, Osaka has a number of benefits, especially with its infrastructure. He said, “Kansai International Airport and Kobe Airport are nearby, and the Shinkansen and local railway network is developing.” He also reiterated that the company is prepared to spend around $9 billion to build an IR in the country.

There is still no word on when the license bidding process will begin. However, many expect it to start, at the earliest, toward the end of next year or into 2020. There are still several fine points being worked out now that the bill has been approved before the licensing process gets underway. Once it does, there will still be a significant amount of time before casino action is seen, with most resorts requiring around five years to be built.

Casinos in Japan are expected to bring in a windfall of cash. Analysts have predicted that the gross gaming revenue could reach as much as $40 billion annually. Casinos, according to the IRIB language, will be on the hook for 30% in taxes to the government, providing a nice source of additional revenue to the country.

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Thursday, July 26, 2018

Simon Lam Leads WPT Gardens Main Event Final Table

Casino News Daily
Simon Lam Leads WPT Gardens Main Event Final Table

The WPT Gardens $5,000 Main Event final table was set early today after a long Day 4 of the tournament. Six players are set to return later today at the host venue, the Gardens Casino in Hawaiian Gardens, Southern California, to play down to a champion.

The winner will take home a nice payout of $565,055, including a $15,000 seat into the season-ending WPT Tournament of Champions, and a brand new Mercedes-Benz SLC Roadster worth over $50,000.

Simon Lam is leading the final pack of six players after the fourth day of play. The overnight chip leader had accumulated a stack of 6.155 million by the end of Day 4 action to pack with a considerable advantage over his fellow contenders for the title. Popular poker pro Jake Schindler bagged the second largest stack, good for 4.45 million.

This will be Lam’s second WPT Main Tour Main Event final table. Back in 2016, the player finished 4th in the $3,500 buy-in WPT Borgata Poker Open Main Event, good for his best live tournament cash of $250,970. Overall, Lam has nearly $1.4 million in earnings from various live tournaments.

Day 4 Action

Day 4 of the WPT Gardens Main Event kicked off with 46 hopefuls still in contention. Saya Ono was leading the survivors. While the local player failed to keep her lead throughout the day, she managed to secure her spot at the official final table. She currently occupies the fifth spot in the temporary leaderboard with a stack of 3.445 million, good for 57 big blinds. In other words, even though she stands near the bottom of the chip counts chart, she is still running pretty deep.

The Day 4 hopefuls first played to the unofficial final table of nine. Men Nguyen was holding the largest chip stack when that stage of the game was reached with 3.635 million. The remaining nine survivors were then relocated to a single table. It took 98 hands of play for the official six-handed final table to be reached.

Nguyen maintained quite some momentum halfway through those 98 hands. However, to everyone’s surprise the player fell asleep at the table and spent more than 20 hands in that state. He eventually woke up, but Lam was already gaining momentum by that time and was eying the top of the leaderboard.

Despite his unexpected nap, Nguyen made it to the official final table with the third largest stack among the remaining survivors. The player will enter the final day of action with 3.935 million or 66 big blinds.

Aside from the chip leader, Lam, Schindler, Nguyen, and Ono, Jared Griener with 3.875 million and Craig Varnell with 1.955 million were the other two players to make it to the tournament’s official final table.

Six-handed action is slated to kick off today at 4 pm local time at the host venue. The hopefuls will play down to a champion. Each of them is guaranteed a minimum cash of $115,885.

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Franco celebrates third anniversary in Vegas

Casino City Times
Franco celebrates third anniversary in Vegas
Magician Mat Franco will team up with Sunny 106.5 and Petco to collect much-needed supplies to benefit The Animal Foundation, Nevada's largest open admission shelter.

Videoslots releases eight new slot games

Casino City Times
Videoslots releases eight new slot games
Online casino Videoslots, which features more than 2,000 different casino games, has announced the release of eight new slot games ready to play.

Las Vegas Sands Q2 earnings short of market expectations

Casino – CalvinAyre.com
Las Vegas Sands Q2 earnings short of market expectations

Las Vegas Sands Corp. (LVS) net income rose 1.8 percent in the second quarter of 2018, to the disappointment of analysts.

LVS announced that its Q2 earnings stands at $556 million, or $0.70 per share short of market expectations of $0.78 per share.

Las Vegas Sands Q2 earnings comes up short of market expectationsThe market reacted negatively with LVS shares sliding 5.4 percent to $71.10 in extended trading.

Consolidated net revenue of LVS, climbed 6.2 percent to $3.30 billion in the three months ending June 30, 2018. The company’s operating income in Q2 2018, fell 2.4 percent to $797 million.

LVS attributed their lower income to softer rolling volume and win percentage in its Singapore unit, offsetting its gains Macau. The company also wrote-off $92 million in relation to costs from the Four Seasons Macau tower project.

LVS founder, chairman and CEO Sheldon Adelson is happy how the firm’s balance sheet “remains the strongest in the industry.”

“We experienced strong growth in both the VIP and mass table games segments, enabling us to grow our market share of gaming revenue both year-over-year and sequentially. Our Macao operations are back to generating an annualized EBITDA run rate of $3 billion. Marina Bay Sands continue to produce strong cash flows, while Las Vegas has another strong quarter on a hold-normalized basis,” Adelson said during the earnings call on Wednesday.

In Macau, total revenues of Sands China Ltd. (SCL) jumped 18 percent to $2.11 billion in Q2 2018. Its net income was at $427 million in the second quarter of 2018, a 30 percent increase from the second quarter of 2017.

SCL attributed the robust Macau results to The Venetian Macao which had revenues of $830 million, a 23.1 percent increase year-on-year while its casino revenue increased 25.8 percent to US$677 million.

Its record rolling chip volume surged 44.3 percent to US$7.46 billion year-on-year.

The Parisian Macao posted revenues and adjusted property EBITDA of US$371 million and US$114 million, respectively, both up slightly from the 2Q 2017.

SCL’s newest property has casino revenue of US$308 million, 8.1 percent higher than the previous year with Rolling chip volume for the quarter at nearly US$4.48 billion an increase of 19.1 percent while non-rolling chip drop at the property’s casino was US$1.06 billion, up 8.6 percent from a year earlier.

Sands Cotai Central also had a robust second quarter, with net revenue rising 15.9 percent to US$509 million.

International brokerage Union Gaming noted that premium mass has notably outpaced base mass for the 8th consecutive quarter.

“We view SCL’s 2Q18 – above market VIP growth, and in line mass growth (and flattish sequential results) – as all the more impressive given what can only be described as a confluence of significant headwinds,” Union Gaming analyst Grant Govertsen said in its note.

However, the gains of LVS in Macau were greatly affected by the lackluster performance in Singapore.

Marina Bay Sands’ (MBS) revenue dipped 15.5 percent to US$705 million in the quarter. Its adjusted property EBITDA also dropped 25.2 percent to US$368 million.

MBS suffered from fewer bets and lower win percentage. Data shows rolling chip volume for the Singapore unit plunged 32.6 percent to US$5.87 billion year-on-year. MBS’ rolling chip win rate declined 2.84 percent from 4.42 percent in the three months ending June 30, 2017.

Adelson expressed confidence that LVS will be able to penetrate the Japanese casino market after the country passed its controversial Integrated Resorts (IR) Implementation Bill.

Adelson told analysts that his decades-long ties to Japan will give them quite an advantage in securing a casino license. The billionaire reminded them that he used to produce COMDEX trade shows before it was sold to Softbank Corp.

“So I’ve got a good background and reputation in Japan for being the leading MICE Integrated Resort developer and operator. And I think that the estimates by people who know – say they know, whom we believe they know, say that we’re in the number one pole position,” he said.

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Saipan could see second casino

Casino – CalvinAyre.com
Saipan could see second casino

A report in the Marianas Variety newspaper has indicated that Saipan could potentially be a target for a second casino project following the mammoth-sized Imperial Palace. With a little bit of luck, and some prudent planning, the casino development will hopefully be a lot smoother than what has been seen with Imperial Pacific.

Saipan could see second casino (hopefully minus the Imperial Pacific drama)Yusho Oki of Japan-based Paraisu Corp., apparently met with Saipan Mayor David Apatang. Apatang said that the businessman was somewhat elusive on what his plans are, but added that he will be making a return visit in August to discuss the possibilities in more detail. Oki did specify, however, that he was considering a casino in Saipan and the neighboring island of Rota, about 46 miles north of Guam.

Apatang told the newspaper that Oki is also possibly interested in creating business relationships between the American territory and select cities in Japan. The idea is to boost tourism while highlighting cultural and student exchange programs. The mayor added, “That’s why it’s important to keep our island clean so visitors will keep on coming.”

If the offering is legitimate (a cursory search could not find any records of Paraisu Corp. in Japan) and a second casino comes to Saipan, developers need to be prepared to have the project in order. Imperial Palace construction has been fraught with numerous delays, lawsuits, bribe allegations and more. Although it was originally expected to open in August, the casino developer, Imperial Pacific International, has requested an extension that would possibly see the operations begin to open in December.

In order to try and make up for lost time, Imperial Pacific has proposed putting on a night crew to keep construction going virtually around the clock. It has also brought in additional personnel from the Philippines, 600 in total, to assist with the construction and to meet contractual employment requirements.

Once open, the Imperial Palace will be a true luxury integrated resort, providing more than 200 gaming tables, around 350 slot machines and a 14-story hotel. A beach and a night club are also planned, and the resort will offer a variety of gastronomical options, including Western and Asian upscale and casual restaurants.

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Wednesday, July 25, 2018

Landing Int’l wins provisional gaming license for Manila resort

Casino – CalvinAyre.com
Landing Int’l wins provisional gaming license for Manila resort

landing-international-philippines-gaming-licenseLanding International Development Ltd (LIDL) says it has received provisional approval to build a $1.5b resort casino in the Philippines’ capital of Manila.

On Wednesday, LIDL briefly halted trading on the Hong Kong Stock Exchange pending a major announcement. Later, the company revealed that its subsidiary Landing Resorts Philippines Development Corporation had received a provisional license to establish and operate a casino within NayonLanding, the integrated resort it plans to build in Manila’s Entertainment City gaming zone.

LIDL says the provisional license agreement it has reached with the Philippine Amusement and Gaming Corporation (PAGCOR) is valid for a 15-year term from the date issued or until July 11, 2033. Landing noted that the license doesn’t permit the resort to offer video streaming or internet gambling, unless PAGCOR declares otherwise.

LIDL has committed to spending at least $1b (and likely up to $1.5b) on its Entertainment City venue, which the company hopes to open by “early 2022.” The company has scheduled a groundbreaking ceremony on the development site on August 7.

The company cautioned that the project’s fate was contingent upon it receiving “other approvals” necessary to commence construction, “and these may or may not be granted.” Ordinarily, this is a boilerplate clause, but in LIDL’s case, nothing can be taken for granted.

Just last month, government auditors expressed concerns over the legality of the land lease deal LIDL had struck with its local partner, the Nayong Pilipino Foundation. The Philippine Commission on Audit expressed alarm at the favorable terms that LIDL had secured, which were far less steep than lease prices paid by other Entertainment City operators.

Should the project go forward, LIDL is promising a Filipino cultural theme park, an indoor waterpark, an indoor movie-based theme park, a convention center, luxury hotels, retail and dining areas, along with a 28k-square-meter gaming floor with a “sky casino” theme.

LIDL chairman Dr. Yang Zhihui (pictured) thanked PAGCOR “for their vote of confidence” in granting the provisional license, while pledging that the planned resort “will contribute positively” to the nation’s tourism sector – particularly via guests from South Korea – and create “significant job opportunities” both in the construction phase and afterward.

Entertainment City currently boasts three active resort casinos – Solaire Resort & Casino, City of Dreams Manila and Okada Manila – while Travellers International’s West Side City Resorts World is planning a 2020 launch.

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Rivers Casino Community Champions with Allegheny CleanWays

Casino City Times
Rivers Casino Community Champions with Allegheny CleanWays
Rivers Team Members will be working from land and water to remove trash that has accumulated along the shore. Other stewardship tasks include trail maintenance, mulching and invasive species removal.

Crown Resorts drags Aussie taxman to court over $270M tax bill

Casino – CalvinAyre.com
Crown Resorts drags Aussie taxman to court over $270M tax bill

Casino operator Crown Resorts Ltd. is fighting tooth and nail to block the AUD362 million (US$270 million) tax bill that the Australian government wants to levy.

Crown Resorts drags Aussie taxman to court over $270M tax billReuters reported that Crown Resorts is disputing the multi-million tax bill that the Australian Taxation Office (ATO) issued, saying the amount is 5 percent more than its normalized 2017 net profit.

An Australian court has scheduled a hearing of Crown’s tax contentions on August 31.

Records showed that Crown’s tax woes stemmed from its acquisition of Vegas casino operator Cannery Casino Resorts for US$1.75 billion and other North American investments in 2007. The Cannery portfolio included four casinos in Nevada and western Pennsylvania.

Unfortunately, the then James Packer-led casino operator failed to expand its footprint in the U.S. due to the global financial crisis. Instead of profits, Crown was forced into billions of dollars of write-downs.

Crown paid more than AUD640 million ($474.1 million) to the Australian government in 2015, which the company said was equivalent to almost two-thirds of its Australian normalized profit before tax.

The ATO is chasing after millions of Australian dollars in income tax—including interest—for the 2009 to 2014 financial years.

The Australian-listed gambling firm questioned the tax bill but the ATO dismissed their plea in May 2018. Both Crown and ATO did not issue a comment on the issue, according to the news outlet.

Crown seemingly can’t catch a break from bad news for three years now, including Packer’s complete retreat from Asia and other global expansion plans as a result of the arrests of Crown staffers in China.

Australian billionaire Packer thought that it would be okay to get back to Crown’s board when he decided to wrap up his overseas ventures—which he called a failure—and focus on his thriving Australian business. But back home, Packer found himself dealing with pokies tampering allegations and real estate property doldrums. The casino mogul left the board barely three-months after rejoining it, citing personal reasons.

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SBTech agrees to deal with Rocket X

Casino City Times
SBTech agrees to deal with Rocket X
The agreement has been contracted directly with Swedish mobile gaming company LeoVegas, which created the Rocket X brand in March to consolidate its UK assets, newly acquired from IPS.

Tuesday, July 24, 2018

Israeli Hoteliers Buy Shuttered Las Vegas Strip Motel, Hint Casino Development Plans

Casino News Daily
Israeli Hoteliers Buy Shuttered Las Vegas Strip Motel, Hint Casino Development Plans

A new hotel and casino complex might spring up in the southern end of the Las Vegas Strip after two Israeli hoteliers bought earlier this month the 1960s-era Motel 8 and hinted at plans to bulldoze the site to make room for a new development, the Las Vegas Review-Journal reports.

According to property records, Israeli businessmen Asher Gabay and Benny Zerah completed the purchase of the motel on July 13. They paid $7.4 million for the property which is located on the southern edge of the Strip, right across the street from where the golden facade of Mandalay Bay is shining in the hot Las Vegas sun and is dwarfing the much smaller building of Motel 8.

The Review-Journal notes that Motel 8 has a peculiar backstory. Court documents showed that the property’s late owner, without the knowledge of his estranged wife, had transferred its ownership to a trust formed with his mistress. The motel’s owner died in 2009. A Clark County court upheld his wife’s half-ownership of the property four years later.

Mr. Gabay and Mr. Zerah are known to be the co-founders of Astral Hotels. The chain operates several properties in the seaside resort of Eilat in Southern Israel. Speaking to the Review-Journal Monday, Mr. Gabay said that Motel 8 was located in a very interesting area on the Strip, pointing to the new Raiders stadium as one of the properties making the area interesting.

The businessman further pointed out that he and Mr. Zerah might have seen something others do not see in the motel that is part of a portion of the Strip that has not seen much development over the past decades.

Will Motel 8 Be Transformed Into a Casino Resort?

Mr. Gabay told the Review-Journal that their plans for the now shuttered Motel 8 and its nearby Mr. Deli convenience store involve razing those and making room for a hotel and casino complex. The businessman declined any further comments on what the future of the one-acre site would be, but hinted that more details might be revealed in the coming months.

A spokesperson for Clark County has told the Review-Journal that no plans for the site have been filed with county officials and regulators yet.

News about the purchase of Motel 8 and its potential redevelopment into a casino resort arrive at the time of booming development activity both across the Strip and in Downtown Vegas. Ten years after the Great Recession hit the city and its key industries, multiple developers, including foreign ones, finally see clear signs of recovery that encourage them to enter Las Vegas or expand and/or renovate their existing business in the city.

Most recently, developer Derek Stevens was given the green light by the Las Vegas City Council to kick off construction on a casino resort that is to be located on the Fremont Street in downtown. The property will be located at the sites of the former Las Vegas Club, Mermaids, and the Glitter Gulch strip club, which were demolished a few months ago to make room for the new development.

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NagaCorp’s H1 revenue jump 85% on VIP, mass market gains

Casino – CalvinAyre.com
NagaCorp’s H1 revenue jump 85% on VIP, mass market gains

nagacorp-vip-mass-market-gaming-revenueCambodia’s leading casino operator NagaCorp saw its revenue skyrocket in the first half of 2018 on a surge of VIP and mass market gambling activity.

On Tuesday, NagaCorp informed the Hong Kong Stock Exchange that its gross gaming revenue in the six months ending June 30 hit US$714m, an 85% improvement over the same period last year. Earnings were up 29% to $232.7m while net profit was up one-fifth to $180m.

NagaCorp stressed that its profit growth would have doubled were it not for the 2017 $60m assignment rights for electronic gaming machines (EGM), a transaction NagaCorp opted not to repeat this year.

The company attributed the stellar results to a number of factors, including the opening of its Naga2 property (pictured) in November 2017. The extension of the company’s flagship NagaWorld property in Cambodia’s capital Phnom Penh “significantly increased the appeal, capacity, quality, range and reach of VIP, mass gaming and non-gaming offerings.”

The company reported “minimal cannibalization” between its two Phnom Penh properties, as Naga1 has retained most of its existing players, while Naga2 is attracting new customers, particularly from Thailand. Despite Naga1’s continued strength, NagaCorp has embarked on an upgrade for the original venue that is expected to be completed next year.

NagaCorp also noted the 14% growth in international visitation to Cambodia during the first four months of 2018, led by a 79% rise in visitors from China. NagaWorld enjoyed extra benefits from this surge, as traffic to the Phnom Penh International Airport was up 41% in the first four months of 2018.

H1’s impressive gains were broad-based but principally led by a 117% gain in VIP gambling turnover to a record $16.8b. VIP win rate was an above average 3.3%, which boosted VIP gambling revenue by 163% to $552.8m. This VIP surge was due in part to interest in checking out Naga2, plus a deal with Asia’s leading junket operator Suncity Group that took effect on March 1.

Mass market gaming was also significantly improved, with table buy-ins rising 53% to $573.8m while mass table revenue was up 36% to $101.1m. EGM bills-in rose 22% to $1.04b, although EGM revenue fell 41% to $59.9m due to the aforementioned rights deal.

Non-gaming revenue totaled $19.1m, in part due to a 69% gain in the number of room nights sold following Naga2’s opening. The company says the new property’s 2k-seat theater has “attracted local interest” and the continued hosting of international shows is expected to further drive both gaming and non-gaming revenue.

The VIP sector contributed 75% of NagaCorp’s H1 revenue but only 45% of gross profit, while mass market gaming contributed 22% of revenue and 50% of profit. Non-gaming revenue also punched above its weight, contributing 3% of overall revenue but 5% of profit.

NagaCorp also updated the market on its in-development Naga Vladivostok resort casino project in Russia’s far east Primorye gaming zone. The company said the project remains “broadly on schedule for completion in 2019,” in all probability leaning towards the second half of the year.

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Illegal Gambling Operators Use WeChat’s Virtual Red Envelopes to Lure Gamblers

Casino News Daily
Illegal Gambling Operators Use WeChat’s Virtual Red Envelopes to Lure Gamblers

Chinese police has recently cracked down on yet another illegal gambling ring that used WeChat to provide users of the extremely popular messaging app with the opportunity to punt on virtual red envelopes, the South China Morning Post reports citing information obtained by the Xinhua.

Handing red packets or red envelopes is an old Chinese tradition. The envelopes contain monetary gifts that are given during different holidays and other special occasions. The red color of the packets symbolizes prosperity and good luck and is believed to be fending off evil spirits.

WeChat, which has more than 1 billion users and is extremely popular with its Chinese customers, launched the digital equivalent of the old-time tradition during the Chinese New Year celebrations back in 2014 to create a booming market for the exchange of virtual red packages.

According to a report by the app’s parent company, Tencent, a total of 768 million WeChat users sent out digital red envelopes during this year’s Lunar New Year, which was celebrated on February 16.

With most forms of gambling being illegal in China, black market operators have spotted an opportunity to use the popular tradition as a means to lure gamblers while avoiding watchdogs. According to information from Shenzhen police authorities, a total of 71 people have been arrested over the past year for WeChat gambling-related activities. Other provinces across China have, too, detained a number of individuals on similar charges.

How Gambling on WeChat Red Packets Works

The Xinhua reports that gambling on red envelopes can take place in various ways on WeChat. Chat groups are one popular way. For instance, a given gambler could be required to pay out to everyone in a given group for picking the red packet with the smallest amount.

Betting on points is another popular form of gambling on the digital variant of the old-time tradition. If a gambler snares a red envelope with a value of CNY12.07, they will receive 9 points which is the sum of the last three digits of the face value of the envelope. The person with the highest score in a group wins the game and their points convert into money.

It has also been found that many organizers of such gambling activities are using robots to automatically calculate sums and thus improve their offering. The amounts of money spent on this type of activities with a clear gambling twist are usually much smaller than those other forms of illegal gambling involve, including gambling dens and illegal casinos. However, police officers say gambling via WeChat and other popular messaging platforms is really hard to detect as group chats are frequently changed to avoid being cracked down on.

According to recent data released by WeChat’s security center, it closed 8,000 gambling-related groups during the second quarter of the year. Here it is important to note that part of the Russia World Cup took place during that particular period, which resulted in a jump in illegal betting activity in China and across Asia as a whole.

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Revamped gambling license proposal submitted to Macau legislators

Casino – CalvinAyre.com
Revamped gambling license proposal submitted to Macau legislators

There has been some concern over how Macau could handle the casino licensing renewals when the current concession periods begin to expire. Most anticipate there to be automatic extensions Revamped gambling license proposal submitted to Macau legislatorsgiven to the operators whose licenses expire first in an effort to gain time while the whole licensing scheme is hashed out by legislators. It looks like Macau lawmakers are being more proactive on the issue and are said to already be reviewing a proposal on how the renewal process should be handled.

Lionel Leong Vai Tac, Macau’s Secretary for Economy and Finance, said over the weekend that a preliminary proposal on gaming law changes has already been introduced. This could go far in the preparation of the bidding process for existing concessions.

Leong told Macau-based reporters, “We’ve said before that the awarding of the gaming concession contracts [when the current ones expire] will have to be done via a bidding process, and the related law needs to be amended as well [in preparation for a new tender]. We are now having an internal study on it [the preliminary proposal].”

He didn’t specify the details of the proposal, but stated that the government will “listen to social opinions and analyse them” throughout the rebid process. There are currently six licenses issued to operators in the gambling hub, and they all expire in either 2020 or in 2022. The first to expire will be those of MGM China and SJM Holdings.

According to law, the licenses can be extended up to five years past their original expiry dates. However, once the contract ends, any new concession can only be approved through a public tender. Because of this, gaming lawyers have argued that there is no true “concession renewal” in Macau.

Last week, Ambrose So Shu Fai, vice-chairman and CEO for SJM Holdings, told reporters that the company hopes to receive a two-year extension when its current license expires. This would put it in line with the four operators, whose licenses expire in 2022, allowing all operators to be on the same ground in the potential rebidding process.

There are currently a number of operators working under the license of another outfit. There has been a push in the city lately to amend the gaming laws to allow for more than the current six concession licenses. It’s possible, come 2022, that a seventh or even an eighth license could be added.

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