Sunday, July 22, 2018 6:18 AM

Australian Racing Rolls Out New Rules to Combat Illegal Online Gambling

Casino News Daily
Australian Racing Rolls Out New Rules to Combat Illegal Online Gambling

Australian horse racing trainers and owners could have their computers and mobile devices seized if they are suspected of gambling with illegal betting websites, under a new set of rules by Racing Australia, local news outlet The Sydney Morning Herald reports.

Racing Australia is the regulatory body tasked with overseeing Australia’s thoroughbred racing industry. The regulator has adopted speedily a fresh wave of rules aimed at clamping down on illegal offshore operators targeting Australian bettors.

Although Australians are allowed to wager on legal websites, they often prefer black market operators to regulated ones, tempted by the promise of a better product and odds. According to a 2015 report by the former Australian Council, the country’s illegal betting market was worth around A$400 million at the time and was expected to reach A$900 million by 2020.

A study by Racing Wagering Australia, the body that represents the nation’s online wagering sector, claims that the black market could be worth up to A$1.3 billion. The money goes to illegal operators who do not contribute back to Australia’s horse racing industry unlike regulated businesses.

New Regulations

The new rules are set to come into effect from August 1, 2018. They will apply to racing horse owners and trainers. Participants in the nation’s horse racing industry could thus have their electronic devices seized for forensic image if they are suspected to be wagering with non-licensed operators.

Racing Victoria, the regulatory body responsible for the racing industry of the state of Victoria, has previously implemented a similar rule to prevent participants from engaging into illegal operations. Racing Australia will now expand that rule so that it applies to all racing authorities in Australia.

Local regulators, including Racing New South Wales, have said they welcome the new approach to illegal betting as the growing betting market poses a great threat to Australia’s horse racing industry.

News about Racing Australia implementing new rules against illegal operations come shortly after a rollout of announcements from various Australian states and territories that they would implement a point of consumption tax on regulated betting operations.

Most recently, New South Wales confirmed that it would be taxing licensed operators at 10% on their revenue from the state. The new tax would be implemented from January 1, 2019.

Queensland has, too, recently announced that a new taxation regime on betting would take effect on October 1, 2018. Operators servicing customers from the state will be required to pay 15% on revenue from their local operations.

It became known earlier this year that the Australian Capital Territory will introduce a 15% point of consumption tax on January 1, 2019. Victoria will, too, roll out its new regime early next year, but it will tax licensed betting operators on 8% of their revenue from local wagering customers.

The post Australian Racing Rolls Out New Rules to Combat Illegal Online Gambling appeared first on Casino News Daily.

Saturday, July 21, 2018 5:39 AM

Melco Opens Two Casino Facilities at Larnaca Airport Within Months

Casino News Daily
Melco Opens Two Casino Facilities at Larnaca Airport Within Months

Two satellite casino facilities will open doors at the Larnaca International Airport by the end of the year under an agreement between Integrated Casino Resorts Cyprus and Hermes Airport Ltd., a joint statement by the two companies says.

Integrated Resorts Cyprus represents the joint venture between Hong Kong-based gaming and hospitality giant Melco Resorts & Entertainment and its Cypriot partner CNS Group. The two companies were selected as the preferred bidder for the development of the first integrated resort with a casino floor in the Republic of Cyprus. Under the term of their license from the Cypriot government, Melco and CNS Group are also set to open four satellite casinos across the tiny Mediterranean republic.

The recently signed agreement with Hermes Airports, the company operating the Larnaca International Airport, will allow Melco and its local partner to establish two gaming facilities at the airport. The agreement has a two-year term and an option for renewal.

The first facility will be located in the departures area and is expected to become operational in the next three months. Only departing passengers will be able to access it. The other facility will be established in the arrivals section of the airport and will be accessible to everyone. It is expected to be completed by the end of the year.

Both facilities will be branded Cyprus Casinos. They will feature slot machines only and no gaming tables. It is yet to be determined whether the satellite casino at the Larnaca International Airport will be open 24 hours.

Melco Hails First Days of Temporary Casino Operation

News about Melco’s agreement with the Larnaca International Airport emerge days after the company said that its temporary casino in Limassol welcomed 34,000 unique visitors during its first three weeks of operation thus beating original expectations. The property opened doors on June 28 as a temporary operation while the main City of Dreams Mediterranean resort is under construction.

Melco revealed that guests from 41 countries played at its casino during its first days. Patrons from Cyprus, Greece, Israel, the United Kingdom, and Russia represented the largest group of players, and slot machines followed by American Roulette proved to be the most popular games.

The temporary operation currently features 242 slot machines and 33 gaming tables, a VIP salon, a restaurant, and two bars. It is open 24/7 and players must be 21 or over in order to be admitted to the gaming floor. Melco has said that 6,000 patrons have joined its rewards program since the casino opened doors.

The main resort is currently under development in Limassol. The property is slated to open doors in 2021. Melco plans to invest more than €550 million into what would be its first integrated resort outside Asia. The company has said that it would look to combat seasonality in Cyprus by establishing an operation that would be drawing visitors all year round.

The post Melco Opens Two Casino Facilities at Larnaca Airport Within Months appeared first on Casino News Daily.

Friday, July 20, 2018 11:36 PM

Looking At The Long-Term Roles For Hard Rock And Ocean Resort In AC

Looking At The Long-Term Roles For Hard Rock And Ocean Resort In AC
puzzle pieces with sun behind them

Industry experts Rummy Pandit and Bob Ambrose offer their explanations as to why Hard Rock Hotel & Casino Atlantic City and Ocean Resort Casino are poised for success after strong opening-weekend revenue numbers.

The post Looking At The Long-Term Roles For Hard Rock And Ocean Resort In AC appeared first on .

Vietnamese Casino Fined for Faulty Tax Reports

Casino News Daily
Vietnamese Casino Fined for Faulty Tax Reports

The owner of Royal International Gaming Club in Ha Long, Vietnam has received a $15,000 fine after being found to have provided faulty reports of value added tax and using illegal invoices, local news outlet VnExpress reports.

Royal Casino is part of the larger Royal Halong Hotel owned by gaming and hospitality company Royal International Corporation. The gaming venue currently offers four table games, with those being blackjack, roulette, baccarat, and Sic Bo, as well as 70 slot machines.

According to the Tax Department of the Quang Ninh province, owners of the casino have breached several tax regulations in their 2017 returns filings and VAT receipts due February 2018. Authorities revealed that Royal International Corporation was penalized with a $15,000 fine, which included a $10,500 levy for faulty VAT reports and another $3,700 levy for providing illegal invoices.

Similarly to most of Vietnam’s land-based casinos, Royal Casino services foreign patrons only. The VnExpress reports that the gambling venue has been recording profit losses since 2013. According to the owner’s report for the third quarter of 2017, the casino saw its loss jump more than 23 times to over $3.04 million.

Revenue during the first quarter of 2018 totaled $2.92 million, the company’s financial report states. The property also generated $69,000 in profits after tax, which is a considerable increase from a loss of $908,000 during the same three months of 2017. However, it is believed that Royal International Corporation has accumulated loss of more than $7.4 million from its gambling operation on a total capital investment of around $30.5 million.

Casino officials have revealed that visitors from Taiwan represent their largest customer group and that the number of patrons from Mainland China has decreased significantly over the past several years. Chinese gamblers are the most popular customer group with stakeholders of the Asia-Pacific region’s casino industry due to their spending habits. Patrons from China are targeted heavily by casinos in the area and competition has become even fiercer in the years after Chinese President Xi Jinping’s anti-graft campaign that resulted in high rollers steering away from Asia’s gambling mecca Macau and looking for other destinations to gamble without appearing on Chinese authorities’ radar screens.

Regulatory Changes in Vietnam

Up until recently, Vietnamese nationals were prohibited from gambling at the country’s casinos. However, the country’s government announced earlier this year that it would lift the long-standing ban partially by launching a three-year pilot program that would allow residents to gamble at two gambling venues – one on the Phu Quoc island in South Vietnam and the other located in the Van Don Special Economic Zone. Both properties are currently under development.

In order to be admitted to the gaming floors of the two resorts, Vietnamese nationals will have to be aged 21 or over and to prove that their monthly income exceeds VND10 million.

Vietnam saw another important change in its gambling laws this year. The country’s government decided to relax previous restrictions on the provision of sports betting and engaging into the activity. A new set of rules was rolled out ahead of the World Cup, allowing nationals to bet on football matches but only with a state-run operators. Bettors can wager up to $44 on a match under the new regulations.

Despite the reforms, Vietnam’s black market was thriving during this year’s edition of the major football championship. Vietnamese police bust a number of illegal gambling rings in the months leading up to the World Cup and during the sporting event. News emerged most recently about an $87-million illegal online betting scheme that was nabbed by police during the football tournament. Ten people were arrested for their alleged involvement in the illicit operation which could easily be dubbed Vietnam’s largest one ever busted.

The post Vietnamese Casino Fined for Faulty Tax Reports appeared first on Casino News Daily.

Gambling Business Group announce priority issues and extend open invitation to new Secretary of State

RSS
Gambling Business Group announce priority issues and extend open invitation to new Secretary of State

Strategic body, the Gambling Business Group, (GBG) has contacted Jeremy Wright QC congratulating him on his appointment as Secretary of State for Digital, Culture, Media and Sport (DCMS) and identifying a list of priority issues impacting the development of the industry as a socially responsible provider of gambling entertainment.

 

Anthony Zinno Wins CPPT $5,000 Main Event at The Venetian after Hot WSOP Run

Casino News Daily
Anthony Zinno Wins CPPT $5,000 Main Event at The Venetian after Hot WSOP Run

Anthony Zinno, one of the notable members of global poker’s elite and one of the few three-time WPT Main Event winners, topped the field of another prestigious tournament after a nice run at the WSOP.

Zinno took part in another popular summer series annually taking place in Las Vegas and bested the field of the festival’s Main Event just a couple of days ago. The popular poker pro emerged victorious in The Venetian DeepStack Championship Poker Series CPPT $5,000 Main Event after surviving through five days of action and outlasting a field of 547 entries.

The tournament kicked off on Saturday, July 14, at The Venetian, one of the premium poker destinations across the Strip. The Main Event featured a guaranteed prize pool of $2 million. The guarantee was crashed due to the great interest in the tournament. An overall prize pool of $2,529,875 was thus created to be distributed to the top 63 finishers.

Aside from the champion’s trophy and all the accolades that a winner deserves, Zinno also collected the amount of $466,670. Including his latest live tournament cash, the poker pro now boasts a bankroll of over $8 million.

Zinno beat a stacked final table in the CPPT Main Event. The player faced the likes of former WSOP Main Event champ Martin Jacobson, popular high rollers Dan Shak and Stephen Chidwick, and former World Championship final tablists Bryan Piccioli and Jay Farber, among others. UK’s Ben Jones was Zinno’s heads-up opponent. The player eventually busted in second place for a consolation prize of $390,956.

Zinno said after his latest poker triumph that he could finally take a break from poker as he has been playing almost incessantly over the past several months.

Hot WSOP Streak

Zinno jumped into The Venetian Main Event action fresh from a nice run at the WSOP. The player finished in-the-money in 12 tournaments on the schedule of the world’s longest running poker series and made two final table appearances.

Zinno finished third in the $565 Pot-Limit Omaha 6-Handed for $57,300. He also scored a third-place finish in the $10,000 Limit Hold’em Championship for $129,186.

While the player failed to capture a WSOP gold bracelet this summer, he already knows very well what it feels like to claim the most coveted non-monetary prize in poker. He won his piece back in 2015 when he outlasted the elite field of the $25,000 Pot-Limit Omaha High Roller. That victory actually secured the popular poker pro with his largest-ever live cash of $1,122,196.

Zinno is one of just five players in the history of the World Poker Tour to have won three Main Event titles from the series’ Main Tour. He claimed his first title in 2013. It was followed by two more titles in 2015 to tie with Carlos Mortensen and Gus Hansen who were the only other three-time WPT title holders at the time.

The post Anthony Zinno Wins CPPT $5,000 Main Event at The Venetian after Hot WSOP Run appeared first on Casino News Daily.

Thursday, July 19, 2018 11:36 PM

GAN Joins FanDuel’s Growing List Of Sports Betting Partners

GAN Joins FanDuel’s Growing List Of Sports Betting Partners
men in suits shaking hands

It's getting tough to keep track of The Meadowlands' sports betting partners. The latest deal brings on GAN to work with FanDuel for online sports wagering.

The post GAN Joins FanDuel’s Growing List Of Sports Betting Partners appeared first on .

Interblock to Showcase New Market Innovations at OIGA 2018

RSS
Interblock to Showcase New Market Innovations at OIGA 2018

Automated Roulette and Dice ETGs arrive to the State of Oklahoma

Poker Pro Pleads Guilty in $6-Million Super Bowl/World Cup Ticket Scam Case

Casino News Daily
Poker Pro Pleads Guilty in $6-Million Super Bowl/World Cup Ticket Scam Case

Poker pro Seyed Reza Ali Fazeli pleaded guilty to wire fraud charges after being indicted in March for allegedly soliciting investors from three states to wire him more than $6 million to start a ticket-resale business.

Fazeli admitted in a Santa Ana, California court on Tuesday that he spent the money to gamble, repay gambling debts, and for personal expenses. Fazeli was particularly active on the Las Vegas high roller poker scene in previous years. His live tournament bankroll amounts to more than $2.2 million. His HendonMob profile shows that he last cashed in a live tournament back in December 2016, when he finished second in a $25,000 buy-in Aria High Roller event for $247,680.

Prosecutors have disclosed that Fazeli ran Summit Entertainment, a Nevada-located company that promised investors to buy Super Bowl and World Cup tickets and resale those at a huge profit. It has been understood that the poker pro was thus wired around $6.2 million in the period between May 2016 and May 2017 by investors from Nevada, California, and his homestate Texas.

Summit Entertainment operated the onlinetickets.com and pacertickets.com websites through which the tickets resale was supposed to take place. Despite previous promises for a healthy profit, Fazeli failed to provide returns to the investment made by his victims.

The poker player told investors that the business performed poorly as the NFL had prohibited any ticket resales. His explanations proved to be false, prosecutors have revealed, as he admittedly spent the money he had received to cover personal expenses and he never bought the tickets.

Fazeli’s sentencing is scheduled for January 28, 2019. The poker player could spend up to 20 years in jail now as he has pleaded guilty to wire fraud.

Poker Professionals among Fazeli’s Investors

Poker news outlet CardPlayer reported earlier this year that there were professional poker players among Fazeli’s victims. The poker website produced a copy of the joint complaint filed by three popular poker pros who claimed that they had invested a total of $1.3 million into Fazeli’s business.

The complaint showed that Erik Seidel, John Juanda, and Zachary Clark, all three of whom are accomplished tournament players, were among the people who have invested into Fazeli’s ticket-resale operation that never really materialized.

According to court papers, Seidel and Clark each pumped half a million dollars into their fellow poker pro’s fraudulent business, while Juanda invested $300,000. It is unclear whether the $1.3 million provided by the three players was included in the above $6.2 million Fazeli obtained in his admitted wire fraud.

It has also emerged that Aria Resort & Casino in Las Vegas has, too, filed a lawsuit against Fazeli over an unpaid casino credit the property has extended 34 separate times. Aria has been one of the casinos the player has been frequenting. He has won quite some of the $25,000 high roller tournaments the property is well-known for.

The post Poker Pro Pleads Guilty in $6-Million Super Bowl/World Cup Ticket Scam Case appeared first on Casino News Daily.

Ainsworth increase profit forecast to US$29 before-tax

RSS
Ainsworth increase profit forecast to US$29 before-tax

Ainsworth Game Technology Ltd says it expects profit before tax in its financial year ended June to have been about AUD39 million (US$28.97 million). The Australian maker of slot machines had previously forecast a profit of about AUD36 million on July 3.

Wednesday, July 18, 2018 6:27 PM

FanDuel Sportsbook Pads Its NJ Sports Betting Portfolio With IGT Deal

FanDuel Sportsbook Pads Its NJ Sports Betting Portfolio With IGT Deal
Fanduel sportsbook

The new FanDuel Sportsbook at Meadowlands uses IGT's sports betting software, which will also be used at its NJ online sports betting site.

The post FanDuel Sportsbook Pads Its NJ Sports Betting Portfolio With IGT Deal appeared first on .

Melco’s Cyprus Casino Welcomes 34,000 Unique Visitors During First Three Weeks

Casino News Daily
Melco’s Cyprus Casino Welcomes 34,000 Unique Visitors During First Three Weeks

Cyprus Casinos (C2), the first legal casino facility in the Republic of Cyprus, welcomed 34,000 individual guests during its first three weeks of operation, owner Melco International Development said in a statement from earlier today.

The venue opened doors June 28 in the city of Limassol. It will operate temporarily while Melco’s main integrated resort City of Dreams Mediterranean is under development. The €550-million property is expected to open doors in Limassol in 2021.

Cyprus Casinos or C2 currently features 242 slot machines and 33 gaming tables, a Salon Prive VIP gaming area, a restaurant, and two bars. The venue is operational 24/7 and admits patrons aged 21 or over.

Melco further revealed today that 6,000 customers have registered with the casino’s C2 Rewards Club loyalty program since it launched.

Commenting on the gambling venue’s performance during its first weeks of operation, Cyprus Casinos and City of Dreams Mediterranean President Craig Ballantyne said that visitor numbers have exceeded their expectations so far. The official further pointed out that customers from 41 different countries have come to play at the property. The majority of them were Cypriots, followed by patrons from Greece, Israel, Romania, Russia and the United Kingdom. Slots and American Roulette were the games that enjoyed the greatest popularity among casino visitors, Mr. Ballantyne added.

Heavy Competition

While Melco seems to be content with how its first property outside Asia has performed during its first days of operation, Mr. Ballantyne has previously said that the casino is forced to battle competition from Northern Cyprus where there is a well-developed casino industry represented by a number of established casino properties.

Talking to local news outlet Cyprus Mail, Mr. Ballantyne has also said that the multitude of illegal casino operations spread across the tiny Mediterranean nation could prove to be difficult to compete with. The official, known to be a casino industry veteran, has explained that the play field is somewhat uneven, particularly given the fact that Cyprus has very strict advertising limitations which prevent Melco from promoting its casino more actively.

Despite the above issues, Mr. Ballantyne said today that the accelerating attendance rate at the property is the result from a positive word of mouth and self-discovery.

The company has pointed out multiple times that it would look to combat seasonality and turn both its temporary casino and its main resort into an all-season destination. Seasonality has long been one of the main issues before Cyprus’ tourism industry.

Foreign visits to the island nation have been on the rise over the past several years, but summer months have traditionally remained the most popular time for visiting. The Cypriot government announced earlier this month that it would establish a special Junior Ministry of Tourism that would be assigned the task to reverse that long-standing trend.

The post Melco’s Cyprus Casino Welcomes 34,000 Unique Visitors During First Three Weeks appeared first on Casino News Daily.

Thought leaders welcome 2019 launch of ICE North America

RSS
Thought leaders welcome 2019 launch of ICE North America

Clarion Gaming has announced the 2019 launch of ICE North America, which will bring together GiGse and ICE Sports Betting USA into a single consolidated event for the interactive gaming industry

Tuesday, July 17, 2018 11:54 PM

Mandalay Bay Owner Sues October 1 Mass Shooting Victims, Seeks Liability Protection

Casino News Daily
Mandalay Bay Owner Sues October 1 Mass Shooting Victims, Seeks Liability Protection

Las Vegas casino giant MGM Resorts International is suing over 1,000 victims of last year’s Mandalay Bay mass shooting in a bid to avoid liability claims, local news outlet Las Vegas Review-Journal reports.

The company has filed lawsuits in Nevada and California courts arguing that it should not be held liable for the October 1 incident, which involved a lone gunman carry out the deadliest mass shooting in America’s contemporary history. On October 1, 2017, Stephen Paddock opened fire from his suite on the 32nd floor of Mandalay Bay into a crowd that was attending the Route 91 Harvest open-air music festival. Paddock fired a rapid barrage of bullets into more than 22,000 concert-goers to kill 58 and wound more than 500. He then shot himself just ahead of police arrival.

MGM owns both the Mandalay Bay casino resort and the Route 91 Harvest festival venue. In its federal court lawsuits, the company argued that any claims against it “must be dismissed” as under a 2002 federal act, it had no liability to victims of the mass shooting.

MGM claimed that it was protected from liability under the 2002 law as the company was using anti-terrorism technology to prevent or respond to any form of mass violence. According to the gaming and hospitality giant, the company it had hired to oversee security at the Route 91 music festival could not be held liable as it had obtained the necessary certifications from the Department of Homeland Security for protection and responding to any act of mass violence and destruction. MGM further pointed out that the liability protection extended to itself as it had hired the security firm.

October 1 Shooting Not Act of Terrorism

Responding to the lawsuits, Las Vegas attorney Rober Eglet told media that the grounds presented by MGM were “obscure” and were on the verge of unethical. Mr. Eglet has been representing some of the victims of the October 1 shooting.

The act cited by MGM in its lawsuits was adopted a year after the 9/11 attacks and included a number of protections from liability. Under the legal piece, any act of mass destruction, major loss, and injury was defined as terrorism.

Here it is important to note that the October 1 shooting was not defined as an act of terrorism by the FBI as Paddock’s motive has remained unidentified which has presented the case from being solved. The FBI identifies terrorism as an act of violence that is triggered by extreme ideologies of racial, political, religious, or environmental nature.

MGM is not seeking money damages from the victims of the shooting. The company pointed out that it only wanted to be cleared of liability and that years of litigation would not be of the best interest of the victims.

The post Mandalay Bay Owner Sues October 1 Mass Shooting Victims, Seeks Liability Protection appeared first on Casino News Daily.

International Game Technology PLC to Host Second Quarter 2018 Results Conference Call on Tuesday July 31 2018

RSS
International Game Technology PLC to Host Second Quarter 2018 Results Conference Call on Tuesday July 31 2018

International Game Technology PLC ("IGT") (NYSE:IGT) will host a conference call and live webcast to discuss second quarter 2018 results for the period ended June 30, 2018 on Tuesday, July 31, 2018.

Leagues Respond To NJ Sports Betting Lawsuit: We Don’t Owe Anything

Leagues Respond To NJ Sports Betting Lawsuit: We Don’t Owe Anything
nj sports betting lawsuit

The brief filed with the US District Court of New Jersey opposes NJTHA's claim of $150M in damages owed and outlines four reasons why the NJ sports betting lawsuit "must be denied."

The post Leagues Respond To NJ Sports Betting Lawsuit: We Don’t Owe Anything appeared first on .

Powered by Blogger.