Teams participating in the first round of the UEFA Europa League will have to start their campaign as early as July 2 with the reverse fixture scheduled to a week later. Those sides beginning their campaign in the second round of the UEFA Champions League will play their first game in the middle of July. West Ham United, the first placed team in the English fair play ranking will return to European football after an eight-year long absence, while Celtic, the Scottish champions, who not so long ago started the European competition in the group stage of the UEFA Champions League, will enter in the second qualifying round this term.

BBC.com: Celtic face Icelandic side Stjarnan in Champions League qualifying

Celtic, the champions of the Scottish Premier League will start its 2015-2016 European campaign in the second qualifying round of the Champions League in the middle of July, online gambling news reported. As keen followers of sports scores might remember, the Hoops failed to make it into the group stages last year after being eliminated by Maribor.

FC Lusitans is to host West Ham United at Camp d’Esports d’Aixoval

Now the Bhoys will entertain Icelandic champions Stjarnan, while West Ham United, the other British side involved in the early stages of the competition, will face FC Lusitans from Andorra in the first qualifying round of the Europa League. West Ham, the side that finished twelfth in the English Premier League gained qualification through their Fair Play record.

The Hammers will start the campaign with their new boss Slaven Bilic as early as July 2. After a clash of fixtures between the two Andorran sides occurred, the initial schedule was reversed, so West Ham will play the first game home at Upton Park before travelling to Andorra a week later.

TheStar.com: West Ham kick off season against Andorran minnows

The draw of the Europa League qualifying was held on Monday in Nyon, Switzerland. West Ham United were paired with FC Lusitans from Andorra in the first round, and the Hammers will kick off their campaign at the beginning of July, five weeks before the start of the Premier League.

Those with an adept knowledge of gambling facts might recall that West Ham participated in the competition last time in the 2006-07 season. Now they will play in Andorra at Camp d’Esports d’Aixoval, a 1,000 capacity stadium. Andorra’s other team in Europe, Sant Julia will entertain Randers from Denmark in the first round.

England was ranked first by the UEFA fair play system and that provided them an extra place in the competition that went to West Ham, the team that came first in the English first-tier’s fair play ranking. 102 teams participated in the draw and the former European Cup winner Red Star from Belgrade will also enter in the first round travelling to Central Asia to visit Kairat Almaty in Kazakhstan.

UEFA.com: Qualifying round draws: best of the reaction

After the draw for the UEFA Champions League qualifiers was held in Nyon, Switzerland, the teams’ representatives spoke about their upcoming opponents. Icelandic champions Stjarnan will play against Celtic after they eliminated Motherwell in the Europa League qualifiers last year, as keen followers of live sports results might remember.

Celtic is to face Icelandic Stjarnan.

“We have mixed feelings,” said Stjarnan defender Daniel Laxdal. “It is great to meet Celtic but I think they are the most difficult team we could have met. We saw them against KR last year and know it will be hard work in defence. Last season we showed anything is possible if we are at our best so hopefully we can do something similar. Celtic will start their season against us and that might help a little but we are up against a great team.”

Celtic FC assistant manager John Kennedy commented the draw via his social media account. He expressed that all pressure is on Celtic, and this situation might suit the Icelandic underdogs. He added, “We have to make sure we go in fully prepared and we win the game. That’s the most important thing.”

Teams participating in the first round of the UEFA Europa League will have to start their campaign as early as July 2 with the reverse fixture scheduled to a week later. Those sides beginning their campaign in the second round of the UEFA Champions League will play their first game in the middle of July. West Ham United, the first placed team in the English fair play ranking will return to European football after an eight-year long absence, while Celtic, the Scottish champions, who not so long ago started the European competition in the group stage of the UEFA Champions League, will enter in the second qualifying round this term.

BBC.com: Celtic face Icelandic side Stjarnan in Champions League qualifying

Celtic, the champions of the Scottish Premier League will start its 2015-2016 European campaign in the second qualifying round of the Champions League in the middle of July, online gambling news reported. As keen followers of sports scores might remember, the Hoops failed to make it into the group stages last year after being eliminated by Maribor.

FC Lusitans is to host West Ham United at Camp d’Esports d’Aixoval

Now the Bhoys will entertain Icelandic champions Stjarnan, while West Ham United, the other British side involved in the early stages of the competition, will face FC Lusitans from Andorra in the first qualifying round of the Europa League. West Ham, the side that finished twelfth in the English Premier League gained qualification through their Fair Play record.

The Hammers will start the campaign with their new boss Slaven Bilic as early as July 2. After a clash of fixtures between the two Andorran sides occurred, the initial schedule was reversed, so West Ham will play the first game home at Upton Park before travelling to Andorra a week later.

TheStar.com: West Ham kick off season against Andorran minnows

The draw of the Europa League qualifying was held on Monday in Nyon, Switzerland. West Ham United were paired with FC Lusitans from Andorra in the first round, and the Hammers will kick off their campaign at the beginning of July, five weeks before the start of the Premier League.

Those with an adept knowledge of gambling facts might recall that West Ham participated in the competition last time in the 2006-07 season. Now they will play in Andorra at Camp d’Esports d’Aixoval, a 1,000 capacity stadium. Andorra’s other team in Europe, Sant Julia will entertain Randers from Denmark in the first round.

England was ranked first by the UEFA fair play system and that provided them an extra place in the competition that went to West Ham, the team that came first in the English first-tier’s fair play ranking. 102 teams participated in the draw and the former European Cup winner Red Star from Belgrade will also enter in the first round travelling to Central Asia to visit Kairat Almaty in Kazakhstan.

UEFA.com: Qualifying round draws: best of the reaction

After the draw for the UEFA Champions League qualifiers was held in Nyon, Switzerland, the teams’ representatives spoke about their upcoming opponents. Icelandic champions Stjarnan will play against Celtic after they eliminated Motherwell in the Europa League qualifiers last year, as keen followers of live sports results might remember.

Celtic is to face Icelandic Stjarnan.

“We have mixed feelings,” said Stjarnan defender Daniel Laxdal. “It is great to meet Celtic but I think they are the most difficult team we could have met. We saw them against KR last year and know it will be hard work in defence. Last season we showed anything is possible if we are at our best so hopefully we can do something similar. Celtic will start their season against us and that might help a little but we are up against a great team.”

Celtic FC assistant manager John Kennedy commented the draw via his social media account. He expressed that all pressure is on Celtic, and this situation might suit the Icelandic underdogs. He added, “We have to make sure we go in fully prepared and we win the game. That’s the most important thing.”

Bloomberg BNA:Caesars Creditors Try to Disqualify Kirkland

Kirkland & Ellis had to prepare for a fight in bankruptcy court against a committee that speaks for the junior secured noteholders in restructuring client Caesars Entertainment Operating Co, gambling law news reported recently. The committee tried to eliminate Kirkland, asking a judge to cast the firm off since they represented the Caesars Entertainment’s majority owners, Apollo Global Management LLC and TPG Capital, on unrelated matters.

According to the committee, Kirkland also collected nearly $10 million in fees improperly just before the company’s bankruptcy on the 15th of January. The junior noteholders wanted the bankruptcy to happen in Wilmington, Delaware, while Bankruptcy Judge A. Benjamin Goldgar is in Chicago, where the law firm originates from.

Bankruptcy is not a cheap process at all, and the quarrel over Kirkland’s participation increases the expenses heavily. According to the firm, the first six weeks after Caesars Entertainment filed for Bankruptcy cost them roughly $10 million. With this dispute over Kirkland’s participation, the bill will continue to run up without bringing the matter closer to solution.

Caesars Entertainment was in a restructuring process since years. After the debts and yearly interest fees were reduced significantly, it seemed that a complete reorganization is in reach. However, protesting creditors invented in January, filing for bankruptcy in Delaware.

Casinoscamreport.com: Caesars Wants More Time for Bankruptcy Plan

Caesars Entertainment trying to secure more time for planning, asked the Chicago bankruptcy court for a six month extension to reshape their structure strategy. On the actual conditions, Caesar’s operating division has to submit their recovery plan to the operational department until the 15th of May.

Lawyers representing the gambling giant stated that it is simply impossible to meet that deadline, according to online mobile news. They have 173 separate entities and many legal problems, they are currently fighting with their creditors too, and there is an ongoing investigation for their earlier deals.

The Caesars’s casino department has a debt of $18 million itself, but with the extension granted, the company could abolish the most of it. The possible new deadline would be the 15th of November if the bankruptcy court approves the company’s plea, and the creditors would have time to reply and articulate any disagreements until January.

If the extension is not granted by Judge A. Benjamin Goldgar, Caesar will present their suggestion to the court on the 29th of April and a verdict expected to be made quickly after. Caesars Entertainment’s shares have dropped by 17% after the extension plea was announced. The legal procedure is far from over, but it seems that Caesar prepared for a long war.

Reuters.com: Creditors, Caesars spar over control of casino bankruptcy

Creditors of Caesars Entertainment stated that they intend to block the attempt of the bankrupt company’s operating unit to extend the period during it has total control of the Chapter 11 restructure. They filed oppositions on Wednesday against the operating unit’s plea to push the deadline back with six months to November 15 instead of May 15.

During that time the operating unit has exclusive rights to suggest a strategy to diminish its $18 million debt. The creditors’ goal is to reach a point where other plans can also be submitted. Caesar’s operating unit filed for bankruptcy in January and that it is a rarity that creditors oppose the extension of exclusive control in such an early phase of a case.

Online gambling news reported that the company’s only supporters within the group of noteholders also objected the extension plea. The largest casino operator in the U.S. is in a desperate fight against its creditors, who accused the parent company of separating the operating unit of major properties like Linq Hotel & Casino in Las Vegas.

The parent company, which is not bankrupt, is controlled by private equity firms Apollo Global Management LLC and TPG Capital Management. The operating unit plans to divide into a casino operator and a real estate investment trust by restructuring. This move would increase the value of the latter, and creditors would benefit from that. However, online betting news learned that by such a move Apollo and TPG would be protected from lawsuits over the property transfers, and the creditors want to prevent that.

Bloomberg BNA:Caesars Creditors Try to Disqualify Kirkland

Kirkland & Ellis had to prepare for a fight in bankruptcy court against a committee that speaks for the junior secured noteholders in restructuring client Caesars Entertainment Operating Co, gambling law news reported recently. The committee tried to eliminate Kirkland, asking a judge to cast the firm off since they represented the Caesars Entertainment’s majority owners, Apollo Global Management LLC and TPG Capital, on unrelated matters.

According to the committee, Kirkland also collected nearly $10 million in fees improperly just before the company’s bankruptcy on the 15th of January. The junior noteholders wanted the bankruptcy to happen in Wilmington, Delaware, while Bankruptcy Judge A. Benjamin Goldgar is in Chicago, where the law firm originates from.

Bankruptcy is not a cheap process at all, and the quarrel over Kirkland’s participation increases the expenses heavily. According to the firm, the first six weeks after Caesars Entertainment filed for Bankruptcy cost them roughly $10 million. With this dispute over Kirkland’s participation, the bill will continue to run up without bringing the matter closer to solution.

Caesars Entertainment was in a restructuring process since years. After the debts and yearly interest fees were reduced significantly, it seemed that a complete reorganization is in reach. However, protesting creditors invented in January, filing for bankruptcy in Delaware.

Casinoscamreport.com: Caesars Wants More Time for Bankruptcy Plan

Caesars Entertainment trying to secure more time for planning, asked the Chicago bankruptcy court for a six month extension to reshape their structure strategy. On the actual conditions, Caesar’s operating division has to submit their recovery plan to the operational department until the 15th of May.

Lawyers representing the gambling giant stated that it is simply impossible to meet that deadline, according to online mobile news. They have 173 separate entities and many legal problems, they are currently fighting with their creditors too, and there is an ongoing investigation for their earlier deals.

The Caesars’s casino department has a debt of $18 million itself, but with the extension granted, the company could abolish the most of it. The possible new deadline would be the 15th of November if the bankruptcy court approves the company’s plea, and the creditors would have time to reply and articulate any disagreements until January.

If the extension is not granted by Judge A. Benjamin Goldgar, Caesar will present their suggestion to the court on the 29th of April and a verdict expected to be made quickly after. Caesars Entertainment’s shares have dropped by 17% after the extension plea was announced. The legal procedure is far from over, but it seems that Caesar prepared for a long war.

Reuters.com: Creditors, Caesars spar over control of casino bankruptcy

Creditors of Caesars Entertainment stated that they intend to block the attempt of the bankrupt company’s operating unit to extend the period during it has total control of the Chapter 11 restructure. They filed oppositions on Wednesday against the operating unit’s plea to push the deadline back with six months to November 15 instead of May 15.

During that time the operating unit has exclusive rights to suggest a strategy to diminish its $18 million debt. The creditors’ goal is to reach a point where other plans can also be submitted. Caesar’s operating unit filed for bankruptcy in January and that it is a rarity that creditors oppose the extension of exclusive control in such an early phase of a case.

Online gambling news reported that the company’s only supporters within the group of noteholders also objected the extension plea. The largest casino operator in the U.S. is in a desperate fight against its creditors, who accused the parent company of separating the operating unit of major properties like Linq Hotel & Casino in Las Vegas.

The parent company, which is not bankrupt, is controlled by private equity firms Apollo Global Management LLC and TPG Capital Management. The operating unit plans to divide into a casino operator and a real estate investment trust by restructuring. This move would increase the value of the latter, and creditors would benefit from that. However, online betting news learned that by such a move Apollo and TPG would be protected from lawsuits over the property transfers, and the creditors want to prevent that.

Australian Grand Prix, the first race of the new Formula 1 season, will start next weekend on 15 March, in Melbourne. The new racing year is expected to be very exciting and intriguing with many great sportsmen behind the wheels who already have their fame, and many young pretenders wanting to take over their famous rivals.

The current champion, Lewis Hamilton, is said to be mentally stronger than ever before, and his team mate, last year’s second placed driver Nico Rosberg, is also looking for a way to prove himself better than everyone else. Meanwhile 4-time world champion Sebastian Vettel and 2-time world champion Fernando Alonso are also looking forward to revive their careers with their new teams.

NDTV Sports: Formula One Gearing up for Another Eventful Year of Rivalry

This year’s championship will see less racers and less teams as 24 drivers took part in the tournament in 2014 while only 18 are competing this year. Well, it might be 20 in case of Manor-Marrusia, the team that was built from Marrusia, will succeed to qualify for the requirements.

It is true that there will be less drivers compared to the previous season, however we can expect the same amount of excitement due to the quality of the competitors. Latest gambling news regard Lewis Hamilton as the favorite for winning the title having set the odds at 1.53 (8/15) by Bet365, while those for his teammate Nico Rosberg are set at 3.50 (5/2).

The British, however, has many contenders, such as Sebastian Vettel who will start the new season at Ferrari or Fernando Alonso who left the Reds for McLaren Honda. So Vettel, Hamilton and Alonso are looking to claim their fifth and third championship title respectively but they have many young contenders.

The new season comes with many new names and most of these are incredibly young drivers. Toro Rosso launches young pairing with a combined age of only 37, while 20-year-old Russian Daniil Kvyat will race as teammate of emerging star Daniel Ricciardo at Red Bull. Sauber will also trust the young with their drivers being 22 year-old Brazilian Felipe Nasr and 24 year-old Swedish diver, Marcus Ericsson.

Eurosport: Formula 1 – Lewis Hamilton arrives in Australia in style and ‘stronger than ever’

Lewis Hamilton seemed to be very confident when arriving to Melbourne and stepping out of his red private plane. He tweeted a picture of himself saying „Australia, we are here!“ to which he received mixed responses from his followers.

Online gambling news quoted what he thinks about his mental strength after being asked about the rumours of his berak-up with Nicole Scherzinger. ” I think last year, I adapted… a mental attitude that was kind of, I would like to say, impenetrable In the previous years it has been the case where personal issues have affected my life in general but I feel that I still carry that kind of mentality from last year.“

The Englishman also talked about his wish to achieve even better results than he did during the previous season. “It’s not easy to better a season like last year. In terms of performance, it was the best year that I think I’ve ever had, but it doesn’t mean I can’t beat it so that’s what I’m trying to do.”

Lewis Hamilton also declared that his negotiations with Mercedes about renewing his contract are at the final stage and they are close to reaching an agreement. “Hopefully we’re in the final stages. I don’t really know what the timeline is for that but we’re not rushing. but we’re very much in the last stages of it. So for the foreseeable future, I’m committed to this team.”

NDTV Sports: Mercedes Won’t End Hamilton-Rosberg Rivalry: Wolff

Even though the fact that Lewis Hamilton and Nico Rosberg were already teammates in the previous season, they were each other’s greatest competitors as well. Last year, on the Belgian Grand Prix at Spa the two drivers collided when the German was trying to overcome his partner.

The team has blamed Rosberg who was given an unknown punishment after the incident and he also apologised publicly for his dangerous maneuvers. Mercedes team boss Toto Wolff claims that the collision between the two drivers was good for the sport but they had crossed a certain line.

Executive director of Mercedes AMG Petrol also added, “We are not going to change our approach in terms of philosophy on how to let the drivers race. Even if it is not always easy. For us, for our brand, for Formula One, it was important to let them fight, one against the other.”

According to gambling news, Wolff also stated that emotion is very important in sports, and even though the two pilots went over-board, the team found a good solution. He proved his word by saying that his team has won the following 5 races after the accident.

The executive also said that Formula 1 is the number 1 car racing sport in the world so people who work for Formula 1 should stop talking negatively about the game. “We are the number one auto racing sport in the world and we must promote and support this image.”

Australian Grand Prix, the first race of the new Formula 1 season, will start next weekend on 15 March, in Melbourne. The new racing year is expected to be very exciting and intriguing with many great sportsmen behind the wheels who already have their fame, and many young pretenders wanting to take over their famous rivals.

The current champion, Lewis Hamilton, is said to be mentally stronger than ever before, and his team mate, last year’s second placed driver Nico Rosberg, is also looking for a way to prove himself better than everyone else. Meanwhile 4-time world champion Sebastian Vettel and 2-time world champion Fernando Alonso are also looking forward to revive their careers with their new teams.

NDTV Sports: Formula One Gearing up for Another Eventful Year of Rivalry

This year’s championship will see less racers and less teams as 24 drivers took part in the tournament in 2014 while only 18 are competing this year. Well, it might be 20 in case of Manor-Marrusia, the team that was built from Marrusia, will succeed to qualify for the requirements.

It is true that there will be less drivers compared to the previous season, however we can expect the same amount of excitement due to the quality of the competitors. Latest gambling news regard Lewis Hamilton as the favorite for winning the title having set the odds at 1.53 (8/15) by Bet365, while those for his teammate Nico Rosberg are set at 3.50 (5/2).

The British, however, has many contenders, such as Sebastian Vettel who will start the new season at Ferrari or Fernando Alonso who left the Reds for McLaren Honda. So Vettel, Hamilton and Alonso are looking to claim their fifth and third championship title respectively but they have many young contenders.

The new season comes with many new names and most of these are incredibly young drivers. Toro Rosso launches young pairing with a combined age of only 37, while 20-year-old Russian Daniil Kvyat will race as teammate of emerging star Daniel Ricciardo at Red Bull. Sauber will also trust the young with their drivers being 22 year-old Brazilian Felipe Nasr and 24 year-old Swedish diver, Marcus Ericsson.

Eurosport: Formula 1 – Lewis Hamilton arrives in Australia in style and ‘stronger than ever’

Lewis Hamilton seemed to be very confident when arriving to Melbourne and stepping out of his red private plane. He tweeted a picture of himself saying „Australia, we are here!“ to which he received mixed responses from his followers.

Online gambling news quoted what he thinks about his mental strength after being asked about the rumours of his berak-up with Nicole Scherzinger. ” I think last year, I adapted… a mental attitude that was kind of, I would like to say, impenetrable In the previous years it has been the case where personal issues have affected my life in general but I feel that I still carry that kind of mentality from last year.“

The Englishman also talked about his wish to achieve even better results than he did during the previous season. “It’s not easy to better a season like last year. In terms of performance, it was the best year that I think I’ve ever had, but it doesn’t mean I can’t beat it so that’s what I’m trying to do.”

Lewis Hamilton also declared that his negotiations with Mercedes about renewing his contract are at the final stage and they are close to reaching an agreement. “Hopefully we’re in the final stages. I don’t really know what the timeline is for that but we’re not rushing. but we’re very much in the last stages of it. So for the foreseeable future, I’m committed to this team.”

NDTV Sports: Mercedes Won’t End Hamilton-Rosberg Rivalry: Wolff

Even though the fact that Lewis Hamilton and Nico Rosberg were already teammates in the previous season, they were each other’s greatest competitors as well. Last year, on the Belgian Grand Prix at Spa the two drivers collided when the German was trying to overcome his partner.

The team has blamed Rosberg who was given an unknown punishment after the incident and he also apologised publicly for his dangerous maneuvers. Mercedes team boss Toto Wolff claims that the collision between the two drivers was good for the sport but they had crossed a certain line.

Executive director of Mercedes AMG Petrol also added, “We are not going to change our approach in terms of philosophy on how to let the drivers race. Even if it is not always easy. For us, for our brand, for Formula One, it was important to let them fight, one against the other.”

According to gambling news, Wolff also stated that emotion is very important in sports, and even though the two pilots went over-board, the team found a good solution. He proved his word by saying that his team has won the following 5 races after the accident.

The executive also said that Formula 1 is the number 1 car racing sport in the world so people who work for Formula 1 should stop talking negatively about the game. “We are the number one auto racing sport in the world and we must promote and support this image.”

From a financial point of view, South Africa’s casinos are doing very well. As the most popular form of gambling in the country, these businesses are raking in as much as R17 billion every year. But while the land-based casino industry is still the most profitable, competition is getting heated as other forms of gambling are growing at a rapid rate.

This week, accounting firm PwC released a detailed report on how the gambling industry could evolve in the following few years. The document takes a closer look at casinos in South Africa, Nigeria and Kenya and speculates on the trends the industry could follow between this year and 2018.

PwC’s predictions are not too optimistic. As the country’s economy is slowing down, its gambling market will face the same slowdown, the accounting firm said.

BusinessDay: Bingo and sports betting make inroads into casinos

In its report, PwC studied the growth prospects for casinos, as well as limited payout machines, bingo, sports betting and lottery games in South Africa. The country has 37 land-based casinos, which made a total of R16.5 billion profits last year. The industry has grown on a year-to-year basis, but only by a modest 0.6%.

Last year turnover increased 4%, a drop from the 7.6% growth in the previous year and the smallest profit made since 2009.

“We expect continued slow growth in SA over the next two years,” the accounting company said. “We then look for a pick-up in growth in each country as economic conditions improve. Some casino operators in certain locations believe that the slowdown in 2013 was due in part to growing competition from electronic bingo terminals, limited payout machines and sports betting shops, which are becoming more prevalent,” said the report.

Meanwhile, bingo operations have generated 67.5% increased revenue last year, while limited payout machines grew 17.8% and sports betting by 9.1%. According to online gambling news, bingo is the smallest category, with revenue of just R732 million, but the industry is constantly growing. Sports betting went up 18.5% and horse racing grew 4.6%, and PwC expects sports wagering to overtake horse racing in the next five years.

Charl Faurie, a spokesperson for SA’s Casino Association, said the association does not see alternative forms of legal gambling as a threat. However, illegal gambling operations are having a negative impact on the industry.

“The rapid increase of illegal online gambling is of particular concern to us as we estimate billions of rands are lost in tax revenue per year which has an obvious negative economic effect on the country. Casa is taking specific actions to address this threat beginning with a mass-media awareness campaign which will launch in the next few months,” Faurie said.

GamingZion: Online Gambling Sites in South Africa Could Be Banned

For years, politicians have been discussing changing the country’s gambling laws, as the industry expected them to regulate the online casino market. But recent news said authorities were considering doing the exact opposite: banning internet gambling in South Africa.

In addition to this, the media said lawmakers are also talking about setting limits on the number of electronic bingo machines and forbidding dog races. While these measures are just in the form of a proposal at the moment, if the draft becomes law all hope of having legal online casinos in the country will be lost.

Of course, not all officials agree with the proposal. Geordin Hill-Lewis, Member of Parliament (DA) and Shadow Minister of Trade and Industry believes it will cost the state more to enforce the law, than to legalize internet gambling. But others note that the number of problem gamblers has increased in recent years, and so has the level of indebtedness.

In addition to forbidding online gambling, South Africa authorities want to introduce licenses for the horse racing industry, in hopes that this measure will make gambling less accessible.

CityPress: Davies tackles gambling board’s mismanagement

Trade and Industry Minister Rob Davies suspended members of the National Gambling Board (NGB) on allegations of maladministration, wasteful spending and corrupt activities. The agency’s activities will be investigated by authorities, to find out if the accusations are true.

The board is normally responsible for overseeing the gambling industry and regulating South Africa’s multi-billion-rand market. Davies noted that the suspension was a precautionary measure, after an alleged contravention of the Public Finance Management Act through “failing to prevent irregular, fruitless and wasteful expenditure, and making overdraft on the entity’s bank account without the approval of the minister of finance”.

The board is accused of breaking the National Gambling Act by “allowing members whose term of office had expired to continue participating in the board’s activities and representing the NGB”, and there was a mention of “apparent corrupt activities” regarding the National Central Electronic Monitoring System, as well as “unlawful appointments of staff”.

Members of the board were also accused of intimidation, bullying and getting rid of evidence, which is why Davies decided to suspend them until the investigation is over.

From a financial point of view, South Africa’s casinos are doing very well. As the most popular form of gambling in the country, these businesses are raking in as much as R17 billion every year. But while the land-based casino industry is still the most profitable, competition is getting heated as other forms of gambling are growing at a rapid rate.

This week, accounting firm PwC released a detailed report on how the gambling industry could evolve in the following few years. The document takes a closer look at casinos in South Africa, Nigeria and Kenya and speculates on the trends the industry could follow between this year and 2018.

PwC’s predictions are not too optimistic. As the country’s economy is slowing down, its gambling market will face the same slowdown, the accounting firm said.

BusinessDay: Bingo and sports betting make inroads into casinos

In its report, PwC studied the growth prospects for casinos, as well as limited payout machines, bingo, sports betting and lottery games in South Africa. The country has 37 land-based casinos, which made a total of R16.5 billion profits last year. The industry has grown on a year-to-year basis, but only by a modest 0.6%.

Last year turnover increased 4%, a drop from the 7.6% growth in the previous year and the smallest profit made since 2009.

“We expect continued slow growth in SA over the next two years,” the accounting company said. “We then look for a pick-up in growth in each country as economic conditions improve. Some casino operators in certain locations believe that the slowdown in 2013 was due in part to growing competition from electronic bingo terminals, limited payout machines and sports betting shops, which are becoming more prevalent,” said the report.

Meanwhile, bingo operations have generated 67.5% increased revenue last year, while limited payout machines grew 17.8% and sports betting by 9.1%. According to online gambling news, bingo is the smallest category, with revenue of just R732 million, but the industry is constantly growing. Sports betting went up 18.5% and horse racing grew 4.6%, and PwC expects sports wagering to overtake horse racing in the next five years.

Charl Faurie, a spokesperson for SA’s Casino Association, said the association does not see alternative forms of legal gambling as a threat. However, illegal gambling operations are having a negative impact on the industry.

“The rapid increase of illegal online gambling is of particular concern to us as we estimate billions of rands are lost in tax revenue per year which has an obvious negative economic effect on the country. Casa is taking specific actions to address this threat beginning with a mass-media awareness campaign which will launch in the next few months,” Faurie said.

GamingZion: Online Gambling Sites in South Africa Could Be Banned

For years, politicians have been discussing changing the country’s gambling laws, as the industry expected them to regulate the online casino market. But recent news said authorities were considering doing the exact opposite: banning internet gambling in South Africa.

In addition to this, the media said lawmakers are also talking about setting limits on the number of electronic bingo machines and forbidding dog races. While these measures are just in the form of a proposal at the moment, if the draft becomes law all hope of having legal online casinos in the country will be lost.

Of course, not all officials agree with the proposal. Geordin Hill-Lewis, Member of Parliament (DA) and Shadow Minister of Trade and Industry believes it will cost the state more to enforce the law, than to legalize internet gambling. But others note that the number of problem gamblers has increased in recent years, and so has the level of indebtedness.

In addition to forbidding online gambling, South Africa authorities want to introduce licenses for the horse racing industry, in hopes that this measure will make gambling less accessible.

CityPress: Davies tackles gambling board’s mismanagement

Trade and Industry Minister Rob Davies suspended members of the National Gambling Board (NGB) on allegations of maladministration, wasteful spending and corrupt activities. The agency’s activities will be investigated by authorities, to find out if the accusations are true.

The board is normally responsible for overseeing the gambling industry and regulating South Africa’s multi-billion-rand market. Davies noted that the suspension was a precautionary measure, after an alleged contravention of the Public Finance Management Act through “failing to prevent irregular, fruitless and wasteful expenditure, and making overdraft on the entity’s bank account without the approval of the minister of finance”.

The board is accused of breaking the National Gambling Act by “allowing members whose term of office had expired to continue participating in the board’s activities and representing the NGB”, and there was a mention of “apparent corrupt activities” regarding the National Central Electronic Monitoring System, as well as “unlawful appointments of staff”.

Members of the board were also accused of intimidation, bullying and getting rid of evidence, which is why Davies decided to suspend them until the investigation is over.

Atlantic City hasn’t had much luck this year, but authorities are looking for ways to “stop the bleeding” and help the city recover financially.

The former gambling kingdom just can’t catch a break. By the end of this year, Atlantic City may see its fifth casino sink, causing unemployment rates to go up yet again. As the city is suffering from the closures, authorities are looking for a way to bounce back by completely rebuilding it.

There are a number of closed shops and casinos in the city, but if you think about how hard Atlantic City has had it this year, you’ll be quite pleasantly impressed with the amount of new construction here. Right across from the now-bankrupt Trump Plaza, a Bass Pro outdoor goods store will rise over an entire city block.

According to online gambling news, New Jersey’s Casino Reinvestment Development Authority offered land and $12 million in cash to help develop the project which will employ 290 people. Mayor Don Guardian says the city has become too dependent on gambling revenues, but it’s time for a change.

“The city was happy, because it provided decent jobs with benefits and it paid the taxes, but we lost everything else. You lose your whole entrepreneurial spirit,” he said in an interview.

NPR: As Casinos Fold, Stakes Are High For Atlantic City Transformation

Just as Las Vegas did two decades ago, Atlantic City is trying to become less dependent on casino profits and branch out more into entertainment. It’s looking to become a destination for conferences and various events, not just a place where you can gamble.

Caesars Entertainment said it took nine million pounds of steel to build the structure of the new Waterfront Conference Center in Atlantic City, which has received substantial backing from the developer and from the casino reinvestment authority. Rick Mazer, regional president of Caesars Entertainment said: “This is the business that I think will evolve and regrow Atlantic City.”

However, some experts are skeptical of the project’s potential to succeed. Oliver Cooke, an economist at nearby Richard Stockton College of New Jersey, has his doubts. “You simply are not going to consume your way out of the morass that you’re in,” he explained. “Doing things like building more retail, building more convention centers, has a very, very limited upside.”

Meanwhile, authorities are talking about reselling, reopening and repurposing some casinos. Just last week, Stockton College announced it was going to buy the old Showboat property and The Revel’s new owners are allegedly planning to make a new investment and reopen the venue.

But Atlantic City needs more than just commercial projects. Mayor Don Guardian hopes to see new residents move in and rebuild the city. “Then we’ve gotta work on our school system,” he continues. “But I gotta fix the city first, find jobs, get taxes, reduce cost of government, make the place pretty, and then we’ll work on the schools. I like the challenge.”

Washington Times: Taxes, schools, casinos key to Christie AC plan

Atlantic City officials are trying to come up with ways to get the economy up and running again. Governor Chris Christie has commissioned a plan calling for more predictable taxes for casinos, temporarily freezing taxes on non-gambling property and halting payments on employee pension plans, as well as offering more support for schools that reduce costs.

The commission appointed to study Atlantic City’s future prospects has released a set of recommendations, but the governor hasn’t committed himself to anything yet. According to the commission, the city should have an emergency manager holding “extraordinary supervisory powers” over expenses and taxes.

Experts added that Atlantic City should form a public-private development corporation, similar to the one that helped New Brunswick. An essential part of the plan is property tax reform.

“Extraordinary state and local support is required in the transition phase of the Atlantic City revitalization strategy focusing on immediate activities with a high probability of success, including balancing the municipal and school cost structure toward ‘new normal,’” panel Chairman Jon Hanson wrote.

The report said: “High effective rates and a rapidly declining tax base have created an immense financial burden for residents, local businesses and the casino industry,” the report read. The “entire Atlantic City gaming industry is at risk as each incremental casino closure results in a greater tax increase than revenue increase for the surviving casinos.”

If freed from making pension payments for three years, the city could save up to $71.1 million, while in the same time reducing the need to borrow money. The plan proposes regionalizing the police and fire departments, thus cutting costs by $25 million a year.

The $30 million used by the Atlantic City Alliance to promote the city should be redirected to the new development corporation, ACDevCo, the commission recommended.

Reuters: New Jersey college buys Atlantic City’s closed Showboat casino

The shuttered Showboat Atlantic City gambling resort formerly operated by Caesars Entertainment could be bought by a college in southern New Jersey. The Richard Stockton College wants to transform the 1.4 million square foot property completely, by turning it into a campus.

The building sits on 28 beachfront acres and holds 1,329 hotel rooms. The deal is subject to due diligence checks, but the terms of the contract were not disclosed yet.

Stockton president Herman Saatkamp said: “Our intent is to engage in a project that enhances Stockton’s educational growth, offerings and cost-containment while at the same time brings new educational opportunities to Atlantic City.”

Although the casino resort was still making profit, Caesars closed it in August. The venues was reportedly sacrificed in an attempt to consolidate the city’s deteriorating gaming market.

Caesars CEO Gary Loveman is hopeful that the new agreement could help steer the local economy in a new direction. “The transformation and revitalization of Atlantic City requires the addition of a diverse set of reasons for people to come visit,” he told reporters.

In 2010, Stockton College bought the Seaview Resort in Galloway Township for $20 million. Part of the property is used to house students and train them in hospitality.

Atlantic City hasn’t had much luck this year, but authorities are looking for ways to “stop the bleeding” and help the city recover financially.

The former gambling kingdom just can’t catch a break. By the end of this year, Atlantic City may see its fifth casino sink, causing unemployment rates to go up yet again. As the city is suffering from the closures, authorities are looking for a way to bounce back by completely rebuilding it.

There are a number of closed shops and casinos in the city, but if you think about how hard Atlantic City has had it this year, you’ll be quite pleasantly impressed with the amount of new construction here. Right across from the now-bankrupt Trump Plaza, a Bass Pro outdoor goods store will rise over an entire city block.

According to online gambling news, New Jersey’s Casino Reinvestment Development Authority offered land and $12 million in cash to help develop the project which will employ 290 people. Mayor Don Guardian says the city has become too dependent on gambling revenues, but it’s time for a change.

“The city was happy, because it provided decent jobs with benefits and it paid the taxes, but we lost everything else. You lose your whole entrepreneurial spirit,” he said in an interview.

NPR: As Casinos Fold, Stakes Are High For Atlantic City Transformation

Just as Las Vegas did two decades ago, Atlantic City is trying to become less dependent on casino profits and branch out more into entertainment. It’s looking to become a destination for conferences and various events, not just a place where you can gamble.

Caesars Entertainment said it took nine million pounds of steel to build the structure of the new Waterfront Conference Center in Atlantic City, which has received substantial backing from the developer and from the casino reinvestment authority. Rick Mazer, regional president of Caesars Entertainment said: “This is the business that I think will evolve and regrow Atlantic City.”

However, some experts are skeptical of the project’s potential to succeed. Oliver Cooke, an economist at nearby Richard Stockton College of New Jersey, has his doubts. “You simply are not going to consume your way out of the morass that you’re in,” he explained. “Doing things like building more retail, building more convention centers, has a very, very limited upside.”

Meanwhile, authorities are talking about reselling, reopening and repurposing some casinos. Just last week, Stockton College announced it was going to buy the old Showboat property and The Revel’s new owners are allegedly planning to make a new investment and reopen the venue.

But Atlantic City needs more than just commercial projects. Mayor Don Guardian hopes to see new residents move in and rebuild the city. “Then we’ve gotta work on our school system,” he continues. “But I gotta fix the city first, find jobs, get taxes, reduce cost of government, make the place pretty, and then we’ll work on the schools. I like the challenge.”

Washington Times: Taxes, schools, casinos key to Christie AC plan

Atlantic City officials are trying to come up with ways to get the economy up and running again. Governor Chris Christie has commissioned a plan calling for more predictable taxes for casinos, temporarily freezing taxes on non-gambling property and halting payments on employee pension plans, as well as offering more support for schools that reduce costs.

The commission appointed to study Atlantic City’s future prospects has released a set of recommendations, but the governor hasn’t committed himself to anything yet. According to the commission, the city should have an emergency manager holding “extraordinary supervisory powers” over expenses and taxes.

Experts added that Atlantic City should form a public-private development corporation, similar to the one that helped New Brunswick. An essential part of the plan is property tax reform.

“Extraordinary state and local support is required in the transition phase of the Atlantic City revitalization strategy focusing on immediate activities with a high probability of success, including balancing the municipal and school cost structure toward ‘new normal,’” panel Chairman Jon Hanson wrote.

The report said: “High effective rates and a rapidly declining tax base have created an immense financial burden for residents, local businesses and the casino industry,” the report read. The “entire Atlantic City gaming industry is at risk as each incremental casino closure results in a greater tax increase than revenue increase for the surviving casinos.”

If freed from making pension payments for three years, the city could save up to $71.1 million, while in the same time reducing the need to borrow money. The plan proposes regionalizing the police and fire departments, thus cutting costs by $25 million a year.

The $30 million used by the Atlantic City Alliance to promote the city should be redirected to the new development corporation, ACDevCo, the commission recommended.

Reuters: New Jersey college buys Atlantic City’s closed Showboat casino

The shuttered Showboat Atlantic City gambling resort formerly operated by Caesars Entertainment could be bought by a college in southern New Jersey. The Richard Stockton College wants to transform the 1.4 million square foot property completely, by turning it into a campus.

The building sits on 28 beachfront acres and holds 1,329 hotel rooms. The deal is subject to due diligence checks, but the terms of the contract were not disclosed yet.

Stockton president Herman Saatkamp said: “Our intent is to engage in a project that enhances Stockton’s educational growth, offerings and cost-containment while at the same time brings new educational opportunities to Atlantic City.”

Although the casino resort was still making profit, Caesars closed it in August. The venues was reportedly sacrificed in an attempt to consolidate the city’s deteriorating gaming market.

Caesars CEO Gary Loveman is hopeful that the new agreement could help steer the local economy in a new direction. “The transformation and revitalization of Atlantic City requires the addition of a diverse set of reasons for people to come visit,” he told reporters.

In 2010, Stockton College bought the Seaview Resort in Galloway Township for $20 million. Part of the property is used to house students and train them in hospitality.

If you thought amateur poker players don’t have what it takes to win major tournaments, guess again.

When 27 year-old Martin Jacobson made it to the final table at the World Series of Poker 2014, many believed the Swedish poker player just got lucky. To think that he would actually win the tournament seemed unthinkable a few weeks ago, when online gambling news introduced him to the world as a former cook who took a break from his time in the kitchen to give poker a try.

Before participating in the November Nine, he had made it to four final tables and had earned more than $1.2 million. But nothing compares to his latest accomplishment: the $10 million guaranteed prize offered at the World Series of Poker, along with a title coveted even by the industry’s biggest names.

The tournament lasted for more than 81 hours. It took Jacobson 45 hours to oust Norwegian player Felix Stephensenand and win his first gold bracelet. “This is what I played for,” he said, referring to his new $500,000 bracelet. “This is all that mattered to me.”

Bleacher Report: WSOP 2014 Results: Winner, Prize Money for November 9 Main Event Finals

Martin Jacobson was already on the right track to becoming a well-respected poker player, but the $10 million prize and gold bracelet he won at this year’s WSOP will surely boost his career. His outstanding performance was applauded by fellow players and poker fans, as he beat out Jorryt van Hoof and Felix Stephensen on the last day of the main event.

Van Hoof, who entered the game as chip leader, was nearly flawless on Monday night, but he was the first one to go after struggling to make decisions all night. First he lost a massive pot to Stephensen, then he held on for a while, but when blinds were increased to $800,000 and $1.6 million, he started to run out of time. A couple of hands later, he was eliminated.

“I didn’t feel as comfortable out there playing tonight as I was yesterday. I moved to the five seat and the light was bothering me. It seemed brighter there. I had more trouble seeing and focusing,” he explained.

After that, Jacobson had the advantage and did not make any mistakes. Finally, on hand no. 328, he went all in and Stephensen had no option but to call. The Swedish player beat his Norwegian opponent, whose described his second-place result as disappointing.

Independent: World Series of Poker 2014: Martin Jacobsen claims $10m prize after learning the game while training to be a chef

Out of all players who made it to the November Nine, Jacobson was the only one who had won more than $1 million in World Series of Poker career earnings. He did come out second in some cases, but he has never managed to make his way to the top.

“There’s no such thing as a ‘perfect tournament’, but this was close to perfect, maybe,” he said in an interview after the game was over.

Throughout the two days of playing, the young Swedish poker pro kept a calm stillness. He didn’t care for any of the tricks other players use to hide their tells, like wearing sunglasses, a hoodie or a baseball cap.

His main rival, the 24 year-old Norwegian player Felix Stephensen, took home $5.1 million in cash. “It’s disappointing to be so close, but I got really lucky to get this far, and it was a tough final table,” he told reporters.

They defeated Dutch player Jorryt van Hoof, who started out as chip leader and maintained his position at the top throughout most of the game. The 31 year-old poker pro won $3.8 million for third place.

“I enjoyed playing with these guys. We’re going to meet up. And the winner will pay for my dinner,” he said.

GamingZion: Martin Jacobson Cooking Up a Plan to Win the WSOP

Jacobson started developing an interest for poker when he was 18, after his father gave him a poker book as a birthday present. He liked the game from the very beginning, but his real passion was cooking so he studied culinary school to become a world-class chef.

After working as a chef in Stockholm for a while, he decided to take a chance on another offer. But this suddenly fell through, leaving him with little options. So while he was looking for another opportunity to work as a chef, he took up poker.

“I started playing sit-and-gos online, and they were my bread and butter,” he told reporters. “I made some extra money online and [those sit-and-gos] ironically helped prepare me for the steps on PokerStars.”

His first notable result in poker was qualifying for the 2008 World Series of Poker. With $12,000 in his pocket after winning one of the satellites, he wasn’t sure about what to do next: head for Vegas or keep the money?

“I called my mom and asked for her advice,” he told reporters. “She said, ‘Obviously, you are going to Vegas.’ That’s not what I was expecting her to say, but when she did, I definitely decided to go.”

Things didn’t work out for him back in 2008, but since then he started to take the game more seriously. His scores got better and better, he finished second in the PokerStars Sunday Million, then he qualified for the European Poker Tour in London and Budapest. In just one year, he had the chance to be in three major main events.

The WSOP 2014 brought him his first gold bracelet, as well as the respect and admirations of his fellow poker players.

If you thought amateur poker players don’t have what it takes to win major tournaments, guess again.

When 27 year-old Martin Jacobson made it to the final table at the World Series of Poker 2014, many believed the Swedish poker player just got lucky. To think that he would actually win the tournament seemed unthinkable a few weeks ago, when online gambling news introduced him to the world as a former cook who took a break from his time in the kitchen to give poker a try.

Before participating in the November Nine, he had made it to four final tables and had earned more than $1.2 million. But nothing compares to his latest accomplishment: the $10 million guaranteed prize offered at the World Series of Poker, along with a title coveted even by the industry’s biggest names.

The tournament lasted for more than 81 hours. It took Jacobson 45 hours to oust Norwegian player Felix Stephensenand and win his first gold bracelet. “This is what I played for,” he said, referring to his new $500,000 bracelet. “This is all that mattered to me.”

Bleacher Report: WSOP 2014 Results: Winner, Prize Money for November 9 Main Event Finals

Martin Jacobson was already on the right track to becoming a well-respected poker player, but the $10 million prize and gold bracelet he won at this year’s WSOP will surely boost his career. His outstanding performance was applauded by fellow players and poker fans, as he beat out Jorryt van Hoof and Felix Stephensen on the last day of the main event.

Van Hoof, who entered the game as chip leader, was nearly flawless on Monday night, but he was the first one to go after struggling to make decisions all night. First he lost a massive pot to Stephensen, then he held on for a while, but when blinds were increased to $800,000 and $1.6 million, he started to run out of time. A couple of hands later, he was eliminated.

“I didn’t feel as comfortable out there playing tonight as I was yesterday. I moved to the five seat and the light was bothering me. It seemed brighter there. I had more trouble seeing and focusing,” he explained.

After that, Jacobson had the advantage and did not make any mistakes. Finally, on hand no. 328, he went all in and Stephensen had no option but to call. The Swedish player beat his Norwegian opponent, whose described his second-place result as disappointing.

Independent: World Series of Poker 2014: Martin Jacobsen claims $10m prize after learning the game while training to be a chef

Out of all players who made it to the November Nine, Jacobson was the only one who had won more than $1 million in World Series of Poker career earnings. He did come out second in some cases, but he has never managed to make his way to the top.

“There’s no such thing as a ‘perfect tournament’, but this was close to perfect, maybe,” he said in an interview after the game was over.

Throughout the two days of playing, the young Swedish poker pro kept a calm stillness. He didn’t care for any of the tricks other players use to hide their tells, like wearing sunglasses, a hoodie or a baseball cap.

His main rival, the 24 year-old Norwegian player Felix Stephensen, took home $5.1 million in cash. “It’s disappointing to be so close, but I got really lucky to get this far, and it was a tough final table,” he told reporters.

They defeated Dutch player Jorryt van Hoof, who started out as chip leader and maintained his position at the top throughout most of the game. The 31 year-old poker pro won $3.8 million for third place.

“I enjoyed playing with these guys. We’re going to meet up. And the winner will pay for my dinner,” he said.

GamingZion: Martin Jacobson Cooking Up a Plan to Win the WSOP

Jacobson started developing an interest for poker when he was 18, after his father gave him a poker book as a birthday present. He liked the game from the very beginning, but his real passion was cooking so he studied culinary school to become a world-class chef.

After working as a chef in Stockholm for a while, he decided to take a chance on another offer. But this suddenly fell through, leaving him with little options. So while he was looking for another opportunity to work as a chef, he took up poker.

“I started playing sit-and-gos online, and they were my bread and butter,” he told reporters. “I made some extra money online and [those sit-and-gos] ironically helped prepare me for the steps on PokerStars.”

His first notable result in poker was qualifying for the 2008 World Series of Poker. With $12,000 in his pocket after winning one of the satellites, he wasn’t sure about what to do next: head for Vegas or keep the money?

“I called my mom and asked for her advice,” he told reporters. “She said, ‘Obviously, you are going to Vegas.’ That’s not what I was expecting her to say, but when she did, I definitely decided to go.”

Things didn’t work out for him back in 2008, but since then he started to take the game more seriously. His scores got better and better, he finished second in the PokerStars Sunday Million, then he qualified for the European Poker Tour in London and Budapest. In just one year, he had the chance to be in three major main events.

The WSOP 2014 brought him his first gold bracelet, as well as the respect and admirations of his fellow poker players.

Authorities will work together with online gambling companies licensed in Malta, to reduce the impact of Britain’s latest policies.

Now that the new British gambling laws have come into force, imposing an additional license fee and – starting December 1 – a 15% point of consumption tax on overseas operators, authorities in Malta have promised to help reduce the financial blow for locally-licensed gambling companies.

During a seminar organized in preparation for the Malta iGaming Summit, Parliamentary Secretary José Herrera promised that the government will work together with the local internet gaming industry to overcome the challenges that lie ahead.

The British Government has recently introduced new laws for the gambling sector. Overseas companies are now required to obtain a UK licensed if they want to cater to British players. In addition, starting December 1 companies will have to pay more taxes to the UK Government.

Malta Independent: Government ready to help online gaming sector face overseas threats

In his speech, Herrera noted that the Lotteries and Gaming Authority in Malta has improved its ties with its British counterpart, but he added that he was disappointed to hear about the measures imposed by the UK Government.

“In our opinion, such steps may not only go against the principal guarantees of the EU treaties but could also lead to a further fragmentation of the sector, to the detriment of consumers,” he told those present at the seminar.

Nevertheless, the new laws have come into force, so the parliamentary secretary announced that the Government in Malta would strive to protect its gambling industry, even on an international level.

“We are ready to work hand in hand with operators to reduce, as much as we can, the impact that such legislation can have. Malta is proud of the regulations it provides to the sector, through which consumers are protected,” he added.

MaltaChamber.org: Parliamentary Secretary Hon Dr José Herrera assures the Malta Chamber’s Remote Gaming Business Section that Malta will “implement attractive measures to consolidate the industry” to make Malta “the number one jurisdiction in the world”

At a business breakfast hosted by the Remote Gaming Business Section (RGBS) within The Malta Chamber of Commerce, Enterprise and Industry this July, Parliamentary Secretary José Herrera presented a few projects and initiatives of the Remote Gaming Executive Committee.

According to Herrera, 52% of all gaming income in 2013 was generated by the remote betting industry. Online gambling news also reported that the industry accounts for 12% of Malta’s GDP, employing more than 8,000 people. The Parliamentary Secretary said authorities would review the current regulations and introduce changes to make Malta a centre of excellence within the industry.

RGBS Chairman George Debrincat said: “I am delighted that we have been able to create a forum which enables us to have a positive dialogue with all the stakeholders and we are grateful to the Chamber and to Malta Chamber President Mr David Curmi for their support.”

“Our industry is part of the business mainstream in the Maltese Islands, important for jobs and economic contribution as well as for the world-class skills and infrastructures that are naturally attendant with it. For Malta to remain ahead of its counterparts, we all need to pull together, and that is part of what the RGBS is working on.”

Malta Today: Malta staunchly opposed to ‘unnecessary’ regulation of gaming industry

Malta has taken a stand against the new regulations announced by the British Government. In a speech at the EY Gaming Tax Seminar, Parliamentary secretary for competitiveness and economic growth Jose Herrera suggested that the UK’s restrictions on overseas gambling operators are “beyond what is necessary”.

For the past years, British players were free to access any number of licensed gambling sites, whether they were operated from within UK borders or from abroad. But as of November 1, companies that want to cater to local players must obtain an additional licensed from the UK Gambling Commission, pay a new license fee and – from December 1 – pay additional taxes too.

“Malta’s regulation is a strong one, based on years of experience,” Herrera said at the seminar. “We will continue to maintain that restrictions, imposed beyond what is necessary, are contrary to the principles guaranteed by the Treaties of the European Union.

“Malta has always been of the view that such a national approach to an international industry leads to fragmentation of the market, which is ultimately detrimental to the industry itself as well as consumers.

“Malta is doing everything in its power to protect this industry at an international level. We are here to listen to the industry. There must be compliance with established principles and law, but we constantly work to resist moves detrimental to business,” he added.

The Lotteries and Gaming Authority has issued 401 licenses this year, a 25% increase from last year’s 321 permits. The number of registered companies has also increased by 17%, from 220 last year to 258 at present.

The regulator has taken steps to make the licensing process faster. Processing time has been reduced by 50%. A company can now obtain a remote gambling license in about two and a half months.

“Malta is a major player in the global remote gaming industry. Our solid reputation has been instrumental in bringing about growth. And we will continue to be responsive to the needs of the industry,” Herrera maintained.

Authorities will work together with online gambling companies licensed in Malta, to reduce the impact of Britain’s latest policies.

Now that the new British gambling laws have come into force, imposing an additional license fee and – starting December 1 – a 15% point of consumption tax on overseas operators, authorities in Malta have promised to help reduce the financial blow for locally-licensed gambling companies.

During a seminar organized in preparation for the Malta iGaming Summit, Parliamentary Secretary José Herrera promised that the government will work together with the local internet gaming industry to overcome the challenges that lie ahead.

The British Government has recently introduced new laws for the gambling sector. Overseas companies are now required to obtain a UK licensed if they want to cater to British players. In addition, starting December 1 companies will have to pay more taxes to the UK Government.

Malta Independent: Government ready to help online gaming sector face overseas threats

In his speech, Herrera noted that the Lotteries and Gaming Authority in Malta has improved its ties with its British counterpart, but he added that he was disappointed to hear about the measures imposed by the UK Government.

“In our opinion, such steps may not only go against the principal guarantees of the EU treaties but could also lead to a further fragmentation of the sector, to the detriment of consumers,” he told those present at the seminar.

Nevertheless, the new laws have come into force, so the parliamentary secretary announced that the Government in Malta would strive to protect its gambling industry, even on an international level.

“We are ready to work hand in hand with operators to reduce, as much as we can, the impact that such legislation can have. Malta is proud of the regulations it provides to the sector, through which consumers are protected,” he added.

MaltaChamber.org: Parliamentary Secretary Hon Dr José Herrera assures the Malta Chamber’s Remote Gaming Business Section that Malta will “implement attractive measures to consolidate the industry” to make Malta “the number one jurisdiction in the world”

At a business breakfast hosted by the Remote Gaming Business Section (RGBS) within The Malta Chamber of Commerce, Enterprise and Industry this July, Parliamentary Secretary José Herrera presented a few projects and initiatives of the Remote Gaming Executive Committee.

According to Herrera, 52% of all gaming income in 2013 was generated by the remote betting industry. Online gambling news also reported that the industry accounts for 12% of Malta’s GDP, employing more than 8,000 people. The Parliamentary Secretary said authorities would review the current regulations and introduce changes to make Malta a centre of excellence within the industry.

RGBS Chairman George Debrincat said: “I am delighted that we have been able to create a forum which enables us to have a positive dialogue with all the stakeholders and we are grateful to the Chamber and to Malta Chamber President Mr David Curmi for their support.”

“Our industry is part of the business mainstream in the Maltese Islands, important for jobs and economic contribution as well as for the world-class skills and infrastructures that are naturally attendant with it. For Malta to remain ahead of its counterparts, we all need to pull together, and that is part of what the RGBS is working on.”

Malta Today: Malta staunchly opposed to ‘unnecessary’ regulation of gaming industry

Malta has taken a stand against the new regulations announced by the British Government. In a speech at the EY Gaming Tax Seminar, Parliamentary secretary for competitiveness and economic growth Jose Herrera suggested that the UK’s restrictions on overseas gambling operators are “beyond what is necessary”.

For the past years, British players were free to access any number of licensed gambling sites, whether they were operated from within UK borders or from abroad. But as of November 1, companies that want to cater to local players must obtain an additional licensed from the UK Gambling Commission, pay a new license fee and – from December 1 – pay additional taxes too.

“Malta’s regulation is a strong one, based on years of experience,” Herrera said at the seminar. “We will continue to maintain that restrictions, imposed beyond what is necessary, are contrary to the principles guaranteed by the Treaties of the European Union.

“Malta has always been of the view that such a national approach to an international industry leads to fragmentation of the market, which is ultimately detrimental to the industry itself as well as consumers.

“Malta is doing everything in its power to protect this industry at an international level. We are here to listen to the industry. There must be compliance with established principles and law, but we constantly work to resist moves detrimental to business,” he added.

The Lotteries and Gaming Authority has issued 401 licenses this year, a 25% increase from last year’s 321 permits. The number of registered companies has also increased by 17%, from 220 last year to 258 at present.

The regulator has taken steps to make the licensing process faster. Processing time has been reduced by 50%. A company can now obtain a remote gambling license in about two and a half months.

“Malta is a major player in the global remote gaming industry. Our solid reputation has been instrumental in bringing about growth. And we will continue to be responsive to the needs of the industry,” Herrera maintained.

First, it was Macau that reported decreased gambling revenues due to a shrinking pool of big spenders, and now Singapore is dealing with the same problems.

As Chinese authorities started a campaign to crack down on corruption earlier this year, high-rollers are staying away from casinos. There are two glitzy casino resorts in the country and they both used to have special VIP tables reserved for their most loyal – and most generous – customers. Now they’re both struggling without them and things are beginning to get ugly between the two competitors.

The resorts are run by American casino operator Las Vegas Sands and Malaysia’s Genting Resorts. The former reported a 34% drop in VIP volume at its Marina Bay Sands resort, while the latter is expected to post a similarly painful slide in its third quarter financial report.

When combined, casino profits in Singapore reach $6 billion per year, and big spenders account for about half of this revenue. As gambling laws don’t allow casinos in China, players usually flee to destinations like Macau or Singapore. But in the first half of 2014, the number of Chinese visitors was down 30% to 871,000, and profits followed the same downward trend.

Business Insider: The Battle For Singapore’s Shrinking Pool Of High-Rolling Gamblers Is Getting Ugly

Casino mogul Sheldon Adelson, chief executive of Las Vegas Sands, has accused its rival of offering overly generous incentives and credit to draw high-rollers to its Resorts World Sentosa.

During a company earnings call last month, Adelson said: “Maybe one day, they will get used to competing on the basis of a quality product, if they ever build one, and they won’t have to buy the business.”

Tan Hee Teck, president of Genting Resorts, admitted that the company’s casinos in Singapore will be facing some financial difficulties during the next few months or possibly even longer.

“I suppose some operators may not want to admit it, but at least from our side, we believe that the situation will continue to be quite challenging at least for the next 6 to 12 months,” he said.

Ever since they opened in 2010, these two casinos have been reporting billion-dollar revenues, mostly based on business brought in by Chinese high-rollers, a category of players which came to be vital to the success of these gambling venues.

In a note published on October 31, Fitch Ratings wrote: “Growth in Singapore gaming revenue has stalled, and is likely to contract slightly in 2014 with macroeconomic and political factors in China being the principal cause.”

TheStar: S’pore casinos brace for battle as VIP volumes fall

The two gambling venues in Singapore have been trying to rely less on casino revenue and push to earn more from entertainment, conference facilities, hotels and shopping. But even so, gambling brings in 80% of total profits for both Las Vegas Sands and Genting Resorts. They both boast profit margins of about 50%, the highest in the casino industry.

One way to lure more foreign high-rollers to a casino is to offer credit. With Singaporean players, this strategy doesn’t work because the state has set stricter rules for locals. Sometimes casinos also use commission, a small rebate on the amount of money they’ve spent.

Terence Tay, a former general counsel for Genting Singapore who now runs a consultancy explained: “Credit checks can be very fast for some gamblers – in 15 minutes or so you can probably get approval for US$1mil, and with US$1mil you can still roll up to US$8 or US$9mil.”

This plan sometimes backfires, as credit collection can turn out to be tricky. Singaporean casinos are already waiting on hundreds of millions of dollars to be repaid by gamblers who lost huge amounts of money. And the majority of these players are based overseas, so recovering the cash is even more difficult.

For Genting, “trade and other receivables” – which represents the money owed by customers – has seen a 61% rise since June 2012. In the quarter ending July 2014, player debt stood at S$1.2 billion. Total revenue has increased 7% in the same period.

Vicky Melbourne, head of industrials for South-East Asia and Australasia ratings at Fitch said: “What’s going to be the greater challenge to the Singapore operators, and certainly more longer-term, is that across the region, there’s a lot more political momentum to legalize casinos.”

The Straits Times: Luck running out for Singapore’s two casinos?

Earlier this year, UOB Kay Hian analysts have pointed out that Singapore’s casino market reached saturation in 2012. A year before that, total gaming revenue had reached a record amount of $7.92 billion; after that, it started to decline and went down 8.3% to $7.26 billion in 2012. It wasn’t until last year that casinos have started to recover, but the rebound was modest – just 3%.

Core earnings are also stagnating, with Marina Bay Sands earnings before interest, taxes, depreciation and amortization (EBITDA) coming in at US$1.5 billion in 2013, compared to US$1.4 billion the year before. Net profit was higher during its second quarter, but VIP and mass-market business was declining.

For Genting Singapore, EBITDA dropped from $1.35 billion in 2012 to $1.15 billion in 2013. Analysts concluded the resort has reached its full growth potential. According to online gambling news, this was partially because of the local Government’s heavy regulation of the casino industry, which imposes a $100 entry fee for Singaporean players and punishes companies for marketing their services to locals.

First, it was Macau that reported decreased gambling revenues due to a shrinking pool of big spenders, and now Singapore is dealing with the same problems.

As Chinese authorities started a campaign to crack down on corruption earlier this year, high-rollers are staying away from casinos. There are two glitzy casino resorts in the country and they both used to have special VIP tables reserved for their most loyal – and most generous – customers. Now they’re both struggling without them and things are beginning to get ugly between the two competitors.

The resorts are run by American casino operator Las Vegas Sands and Malaysia’s Genting Resorts. The former reported a 34% drop in VIP volume at its Marina Bay Sands resort, while the latter is expected to post a similarly painful slide in its third quarter financial report.

When combined, casino profits in Singapore reach $6 billion per year, and big spenders account for about half of this revenue. As gambling laws don’t allow casinos in China, players usually flee to destinations like Macau or Singapore. But in the first half of 2014, the number of Chinese visitors was down 30% to 871,000, and profits followed the same downward trend.

Business Insider: The Battle For Singapore’s Shrinking Pool Of High-Rolling Gamblers Is Getting Ugly

Casino mogul Sheldon Adelson, chief executive of Las Vegas Sands, has accused its rival of offering overly generous incentives and credit to draw high-rollers to its Resorts World Sentosa.

During a company earnings call last month, Adelson said: “Maybe one day, they will get used to competing on the basis of a quality product, if they ever build one, and they won’t have to buy the business.”

Tan Hee Teck, president of Genting Resorts, admitted that the company’s casinos in Singapore will be facing some financial difficulties during the next few months or possibly even longer.

“I suppose some operators may not want to admit it, but at least from our side, we believe that the situation will continue to be quite challenging at least for the next 6 to 12 months,” he said.

Ever since they opened in 2010, these two casinos have been reporting billion-dollar revenues, mostly based on business brought in by Chinese high-rollers, a category of players which came to be vital to the success of these gambling venues.

In a note published on October 31, Fitch Ratings wrote: “Growth in Singapore gaming revenue has stalled, and is likely to contract slightly in 2014 with macroeconomic and political factors in China being the principal cause.”

TheStar: S’pore casinos brace for battle as VIP volumes fall

The two gambling venues in Singapore have been trying to rely less on casino revenue and push to earn more from entertainment, conference facilities, hotels and shopping. But even so, gambling brings in 80% of total profits for both Las Vegas Sands and Genting Resorts. They both boast profit margins of about 50%, the highest in the casino industry.

One way to lure more foreign high-rollers to a casino is to offer credit. With Singaporean players, this strategy doesn’t work because the state has set stricter rules for locals. Sometimes casinos also use commission, a small rebate on the amount of money they’ve spent.

Terence Tay, a former general counsel for Genting Singapore who now runs a consultancy explained: “Credit checks can be very fast for some gamblers – in 15 minutes or so you can probably get approval for US$1mil, and with US$1mil you can still roll up to US$8 or US$9mil.”

This plan sometimes backfires, as credit collection can turn out to be tricky. Singaporean casinos are already waiting on hundreds of millions of dollars to be repaid by gamblers who lost huge amounts of money. And the majority of these players are based overseas, so recovering the cash is even more difficult.

For Genting, “trade and other receivables” – which represents the money owed by customers – has seen a 61% rise since June 2012. In the quarter ending July 2014, player debt stood at S$1.2 billion. Total revenue has increased 7% in the same period.

Vicky Melbourne, head of industrials for South-East Asia and Australasia ratings at Fitch said: “What’s going to be the greater challenge to the Singapore operators, and certainly more longer-term, is that across the region, there’s a lot more political momentum to legalize casinos.”

The Straits Times: Luck running out for Singapore’s two casinos?

Earlier this year, UOB Kay Hian analysts have pointed out that Singapore’s casino market reached saturation in 2012. A year before that, total gaming revenue had reached a record amount of $7.92 billion; after that, it started to decline and went down 8.3% to $7.26 billion in 2012. It wasn’t until last year that casinos have started to recover, but the rebound was modest – just 3%.

Core earnings are also stagnating, with Marina Bay Sands earnings before interest, taxes, depreciation and amortization (EBITDA) coming in at US$1.5 billion in 2013, compared to US$1.4 billion the year before. Net profit was higher during its second quarter, but VIP and mass-market business was declining.

For Genting Singapore, EBITDA dropped from $1.35 billion in 2012 to $1.15 billion in 2013. Analysts concluded the resort has reached its full growth potential. According to online gambling news, this was partially because of the local Government’s heavy regulation of the casino industry, which imposes a $100 entry fee for Singaporean players and punishes companies for marketing their services to locals.

After winning GBP1 million at the lottery, a young couple from Basingstoke will finally get the honeymoon they’ve been dreaming about.

Booking a trip to Australia – that’s the first thing David and Sam Mackie will be spending their lottery winnings on. The couple just won the new EuroMillions Mega Friday draw last week, allowing them to take a much-deserved vacation for the first time since they got married two and a half years ago.

David and Sam, who have two young boys, have already started to plan their trip. Since they got married, they haven’t even had a chance to get away for a honeymoon. They’ve been together five years and their last vacation was a week in Cornwall, but now the pair can finally afford to go somewhere special: to Australia. And since Sam is expecting another baby, they also made plans to buy a new house.

The surprising win comes after a chance purchase, on Halloween. It’s usually Sam who buys the ticket, but this time David opened the computer to find the National Lottery website opened, so he went ahead and entered the EuroMillions draw. According to online gambling news, he received good news the morning after.

ITV: Young couple finally get honeymoon after £1m lotto win

David received an email saying there was good news waiting for him and urging him to check his account. “I usually joke that I am off to check my million when I get the email, but this time I didn’t. I just said to Sam I was off to look at my GBP3,” he said.

He logged on and checked his balance, but it was the same as the day before. In an interview with local reporters, he admitted it took him some time to notice the message which said he had won GBP1 million.

The 32-year-old IT manager said: “This is an amazing opportunity and the more we found out about the trip, the more we realized what a big deal it was. I have been to Australia a couple of times but recently only got abroad for stag weekends. Sam has only ever been on a plane to Leeds, it really is a once in a lifetime chance and I already have the forms to apply for passports for Sam and our boys.”

The pair considered Las Vegas for a honeymoon trip, but since family comes first they didn’t afford it. “We are really family orientated and now being able to share this trip with our children will be even better,” David explained.

David said his wife didn’t believe him when he gave her the good news. She checked the account herself and saw the message was still there, but it wasn’t until they called Camelot – the company authorized to operate the lottery service, under British gambling laws – that it all started to feel real.

Herald Scotland: Delayed honeymoon for lottery pair

A young couple will finally have their honeymoon after winning GPB1 million in the new EuroMillions Mega Friday draw. David and Sam Mackie got married two and a half years ago, but have not even been on a honeymoon or on a trip abroad. The family from Basingstoke, Hampshire will finally be taking a vacation to Australia, together with their two sons.

David, who works as an IT manager, told reporters: “I called my wife but she didn’t believe me. Once she saw my face, and I think I was shaking by this point, she decided to check. We both logged off and back on again to the account and the message was still there. I then had to wait 15 minutes to call Camelot and that was when it started becoming real.”

Mrs. Mackie is currently on maternity leave and the couple will also buy a house for their expanding family. They already signed the paperwork for a new development which they had previously considered, but had been unable to afford until now.

“They had been going quickly and there were only a few plots left. Luckily the one we wanted was still available and we got it. It is amazing to be in that position. I stress about mortgages and money and it is completely life-changing to not to have to worry any longer,” David explained.

Western Daily Press: Euromillions Jackpot: Tickets for new Mega Fridays 25 x £1million prizes and getaways to Makepeace Island released next Friday and last Friday of every month

The National Lottery is launching “mega Fridays”, a new EuroMillions lottery game which will create 25 millionaires. On the last Friday of every month, players will have a shot to win once-in-a-lifetime prize and multiple GBP1 million guaranteed rewards.

In addition to the jackpot prize, the first launch draw will give lucky players the chance to take home one of the 25 available GBP1 million prizes. There is also a private getaway up for grabs, taking the winners themselves and seven other people to Makepeace Island in Australia.

“Next week promises to be hugely exciting for EuroMillions players here in the UK. There’s a chance to win one of 25 guaranteed GBP1 million prizes and we’ll be giving each winner a head start on the millionaire lifestyle with a once in a life time getaway to their own private island,” a National Lottery spokesperson told reporters.

“As well as the chance to win life changing prizes, EuroMillions players also help contribute to the GBP33 million players raise for National Lottery projects every week.”

After winning GBP1 million at the lottery, a young couple from Basingstoke will finally get the honeymoon they’ve been dreaming about.

Booking a trip to Australia – that’s the first thing David and Sam Mackie will be spending their lottery winnings on. The couple just won the new EuroMillions Mega Friday draw last week, allowing them to take a much-deserved vacation for the first time since they got married two and a half years ago.

David and Sam, who have two young boys, have already started to plan their trip. Since they got married, they haven’t even had a chance to get away for a honeymoon. They’ve been together five years and their last vacation was a week in Cornwall, but now the pair can finally afford to go somewhere special: to Australia. And since Sam is expecting another baby, they also made plans to buy a new house.

The surprising win comes after a chance purchase, on Halloween. It’s usually Sam who buys the ticket, but this time David opened the computer to find the National Lottery website opened, so he went ahead and entered the EuroMillions draw. According to online gambling news, he received good news the morning after.

ITV: Young couple finally get honeymoon after £1m lotto win

David received an email saying there was good news waiting for him and urging him to check his account. “I usually joke that I am off to check my million when I get the email, but this time I didn’t. I just said to Sam I was off to look at my GBP3,” he said.

He logged on and checked his balance, but it was the same as the day before. In an interview with local reporters, he admitted it took him some time to notice the message which said he had won GBP1 million.

The 32-year-old IT manager said: “This is an amazing opportunity and the more we found out about the trip, the more we realized what a big deal it was. I have been to Australia a couple of times but recently only got abroad for stag weekends. Sam has only ever been on a plane to Leeds, it really is a once in a lifetime chance and I already have the forms to apply for passports for Sam and our boys.”

The pair considered Las Vegas for a honeymoon trip, but since family comes first they didn’t afford it. “We are really family orientated and now being able to share this trip with our children will be even better,” David explained.

David said his wife didn’t believe him when he gave her the good news. She checked the account herself and saw the message was still there, but it wasn’t until they called Camelot – the company authorized to operate the lottery service, under British gambling laws – that it all started to feel real.

Herald Scotland: Delayed honeymoon for lottery pair

A young couple will finally have their honeymoon after winning GPB1 million in the new EuroMillions Mega Friday draw. David and Sam Mackie got married two and a half years ago, but have not even been on a honeymoon or on a trip abroad. The family from Basingstoke, Hampshire will finally be taking a vacation to Australia, together with their two sons.

David, who works as an IT manager, told reporters: “I called my wife but she didn’t believe me. Once she saw my face, and I think I was shaking by this point, she decided to check. We both logged off and back on again to the account and the message was still there. I then had to wait 15 minutes to call Camelot and that was when it started becoming real.”

Mrs. Mackie is currently on maternity leave and the couple will also buy a house for their expanding family. They already signed the paperwork for a new development which they had previously considered, but had been unable to afford until now.

“They had been going quickly and there were only a few plots left. Luckily the one we wanted was still available and we got it. It is amazing to be in that position. I stress about mortgages and money and it is completely life-changing to not to have to worry any longer,” David explained.

Western Daily Press: Euromillions Jackpot: Tickets for new Mega Fridays 25 x £1million prizes and getaways to Makepeace Island released next Friday and last Friday of every month

The National Lottery is launching “mega Fridays”, a new EuroMillions lottery game which will create 25 millionaires. On the last Friday of every month, players will have a shot to win once-in-a-lifetime prize and multiple GBP1 million guaranteed rewards.

In addition to the jackpot prize, the first launch draw will give lucky players the chance to take home one of the 25 available GBP1 million prizes. There is also a private getaway up for grabs, taking the winners themselves and seven other people to Makepeace Island in Australia.

“Next week promises to be hugely exciting for EuroMillions players here in the UK. There’s a chance to win one of 25 guaranteed GBP1 million prizes and we’ll be giving each winner a head start on the millionaire lifestyle with a once in a life time getaway to their own private island,” a National Lottery spokesperson told reporters.

“As well as the chance to win life changing prizes, EuroMillions players also help contribute to the GBP33 million players raise for National Lottery projects every week.”

Macau has had a few rough months during and after the World Cup in Brazil, but its streak of bad luck reached its peak in October.

When June reports showed a 3.7% year-on-year drop, industry experts blamed it on the World Cup sports betting craze and said things would pick up. Then revenues came in at just $3.6 billion in July, showing a 3.6% drop from the same period last year and they said Macau needs a bit more time to get back on track.

But as Chinese authorities continue their crackdown on casino corruption, an initiative which scared away a number of VIP customers, things have gotten serious. In October, total casino revenue fell by 23.2% in October compared to the same month of 2013.

The city’s gaming authority said total revenue was at 28 billion Macau patacas ($3.5 billion) this October, marking Macau’s worst financial performance since the gambling hub started recording such data in 2005.

Despite its recent downward trend, Macau continues to be the world’s largest gambling centre, way ahead of Las Vegas. The bad news is that the region relies heavily on casino revenue –mostly on the money spent by high-rollers – which seems to be on the decline. Moreover, it’s the only area where China allows casinos, a type of entertainment otherwise forbidden under the country’s gambling laws.

Reuters: Macau Oct gaming revenues fall 23 pct, drop worst on record

October was the worst month for Macau’s casinos and the fifth consecutive month of declines. Industry representatives blame it on China’s passive war on corruption, as well as on a decline in the number of tourists and a general slowing of economic growth, which makes people spend less on gambling.

“It is worse in October than it was before October,” Steve Wynn, chief executive of Wynn Macau, told a recent earnings call. “I don’t know if it is a squall or if we are in the rainy season, or how long it will last, but we are still very bullish on Macau.”

The American casino developer has started construction on another Macau project – a $4 billion integrated resort, which includes a lake and air-conditioned gondolas.

According to online gambling news, about 80% of Macau’s revenues rely on gambling, but China’s two-year anti-corruption battle has taken its toll on the local casino industry. Big spenders are now avoiding the area and choosing other destinations where they can freely spend their money. Profits from VIP customers accounted for just 56% of total revenues in the third quarter, which was a new low for Macau.

Las Vegas Sands chief Sheldon Adelson said these trends are cyclical. “It is only a matter of time before the cycle reverses itself. No one has ever suggested that the behavior of Chinese and Asian people, which has been established over a 3,000-year history, is going to change.”

Wall Street Journal: Macau Gambling-Revenue Drop Divides Investors

Making smart investments in casino stocks used to be pretty simple. Investors would just choose those companies that had bigger exposure in Macau, knowing that those were the names with the best prospects. Things have changed now that Macau has had its fifth straight month of revenue declines.

Hong Kong-based Central Asset Investments portfolio manager Armand Yeung said: “We were short. Now we’re just staying away from it.” Though valuations have become more reasonable and dividend yields are attractive, “there’s still a lot of debate”, he added.

When an analyst casino magnate Steve Wynn if he thought things were getting worse in Macau, he replied: “Oh, well, that’s an easy question. It’s worse in October than it was before October. So if you’re asking what is the nadir of our experience, it is current.”

Wynn added that Beijing’s efforts to combat corruption in Macau “has put a lot of the wealthy businessmen in the fox holes.”

Credit analysts are expressing concerns about Macau expansion plans, claiming that casinos will not be able to repay their debts if the slowdown in revenue continues.

Forbes: Macau Casino Revenue Falls, VIPs Blamed, Investors Rejoice

Figures released by the Gaming Inspection and Coordination Bureau showed a 3.7% decline in year-on-year revenue in June, with profits dropping to 27.2 billion Macau patacas or $3.4 billion. Industry representatives claim it was caused by a 20% drop in VIP attendance.

This was the first time when Macau’s monthly revenue fell since June 2009, which marked a low point for the city’s casino sector. Union Gaming Research Macau analysts Grant Govertsen and Felicity Chiang pointed out that from the decline in 2009, “Macau went on an unprecedented run [with] tripling of GGR from approximately US$15 billion in 2009 to US$45 billion in 2013.”

Between 2008 and 2009, Macau’s problem was mainly a matter of politics, with an overlay of economic factors. It could be the same this time around, as the 20% drop in VIP revenue is believed to be caused by President Xi Jinping’s anti-corruption campaign in China.

On the other hand, a report released by Morgan Stanley Asia in June cited economic factors from the mainland, while others blamed it on the World Cup, which Union Gaming conceded “could be responsible for a few hundred basis points of the VIP decline.”

Macau has had a few rough months during and after the World Cup in Brazil, but its streak of bad luck reached its peak in October.

When June reports showed a 3.7% year-on-year drop, industry experts blamed it on the World Cup sports betting craze and said things would pick up. Then revenues came in at just $3.6 billion in July, showing a 3.6% drop from the same period last year and they said Macau needs a bit more time to get back on track.

But as Chinese authorities continue their crackdown on casino corruption, an initiative which scared away a number of VIP customers, things have gotten serious. In October, total casino revenue fell by 23.2% in October compared to the same month of 2013.

The city’s gaming authority said total revenue was at 28 billion Macau patacas ($3.5 billion) this October, marking Macau’s worst financial performance since the gambling hub started recording such data in 2005.

Despite its recent downward trend, Macau continues to be the world’s largest gambling centre, way ahead of Las Vegas. The bad news is that the region relies heavily on casino revenue –mostly on the money spent by high-rollers – which seems to be on the decline. Moreover, it’s the only area where China allows casinos, a type of entertainment otherwise forbidden under the country’s gambling laws.

Reuters: Macau Oct gaming revenues fall 23 pct, drop worst on record

October was the worst month for Macau’s casinos and the fifth consecutive month of declines. Industry representatives blame it on China’s passive war on corruption, as well as on a decline in the number of tourists and a general slowing of economic growth, which makes people spend less on gambling.

“It is worse in October than it was before October,” Steve Wynn, chief executive of Wynn Macau, told a recent earnings call. “I don’t know if it is a squall or if we are in the rainy season, or how long it will last, but we are still very bullish on Macau.”

The American casino developer has started construction on another Macau project – a $4 billion integrated resort, which includes a lake and air-conditioned gondolas.

According to online gambling news, about 80% of Macau’s revenues rely on gambling, but China’s two-year anti-corruption battle has taken its toll on the local casino industry. Big spenders are now avoiding the area and choosing other destinations where they can freely spend their money. Profits from VIP customers accounted for just 56% of total revenues in the third quarter, which was a new low for Macau.

Las Vegas Sands chief Sheldon Adelson said these trends are cyclical. “It is only a matter of time before the cycle reverses itself. No one has ever suggested that the behavior of Chinese and Asian people, which has been established over a 3,000-year history, is going to change.”

Wall Street Journal: Macau Gambling-Revenue Drop Divides Investors

Making smart investments in casino stocks used to be pretty simple. Investors would just choose those companies that had bigger exposure in Macau, knowing that those were the names with the best prospects. Things have changed now that Macau has had its fifth straight month of revenue declines.

Hong Kong-based Central Asset Investments portfolio manager Armand Yeung said: “We were short. Now we’re just staying away from it.” Though valuations have become more reasonable and dividend yields are attractive, “there’s still a lot of debate”, he added.

When an analyst casino magnate Steve Wynn if he thought things were getting worse in Macau, he replied: “Oh, well, that’s an easy question. It’s worse in October than it was before October. So if you’re asking what is the nadir of our experience, it is current.”

Wynn added that Beijing’s efforts to combat corruption in Macau “has put a lot of the wealthy businessmen in the fox holes.”

Credit analysts are expressing concerns about Macau expansion plans, claiming that casinos will not be able to repay their debts if the slowdown in revenue continues.

Forbes: Macau Casino Revenue Falls, VIPs Blamed, Investors Rejoice

Figures released by the Gaming Inspection and Coordination Bureau showed a 3.7% decline in year-on-year revenue in June, with profits dropping to 27.2 billion Macau patacas or $3.4 billion. Industry representatives claim it was caused by a 20% drop in VIP attendance.

This was the first time when Macau’s monthly revenue fell since June 2009, which marked a low point for the city’s casino sector. Union Gaming Research Macau analysts Grant Govertsen and Felicity Chiang pointed out that from the decline in 2009, “Macau went on an unprecedented run [with] tripling of GGR from approximately US$15 billion in 2009 to US$45 billion in 2013.”

Between 2008 and 2009, Macau’s problem was mainly a matter of politics, with an overlay of economic factors. It could be the same this time around, as the 20% drop in VIP revenue is believed to be caused by President Xi Jinping’s anti-corruption campaign in China.

On the other hand, a report released by Morgan Stanley Asia in June cited economic factors from the mainland, while others blamed it on the World Cup, which Union Gaming conceded “could be responsible for a few hundred basis points of the VIP decline.”

Reports say the incident was at the center of a power struggle between factions of a Native American tribe.

Prosecutors have filed charges against 15 people involved in the armed takeover and one of the defendants was arrested by Madera County authorities. Eric Domingo Flores Suniga, 30, was charged with five counts of assault with a stun gun. The other defendants were accused of kidnapping, false imprisonment and assault with a firearm.

According to online gambling news, it all started from a dispute between two rival tribe factions. They fought over who gets control over the Chukchansi Gold Resort and Casino, located northeast of Fresno.

After one tribal group attempted a takeover last month, authorities decided to close the gambling venue. Madera County District Attorney Michael Keitz gave the suspects two options, to either surrender or be arrested, but lawyer David Leibowitz said his clients did nothing illegal and did not endanger the lives of any casino customers.

Associated Press: 15 Charged in Armed Takeover that Closed Casino

Prosecutors have charged 15 people in an armed dispute between two rival factions of the Picayune Rancheria of the Chukchansi Indians, who fought to get control over the Chukchansi Gold Resort and Casino.

More than a dozen people stormed the venue last month, in an armed takeover that sent hundreds of gamblers running for their lives, while their chips were still on the table. Luckily, no one was hurt.

After another suspect was arrested last week, the group’s leader, 64-year-old Tex McDonald, surrendered to the Madera County Sheriff’s Office on Monday. The court set his bail at $1 million.

According to Sheriff John Anderson, three other suspects did the same, but deputies are still looking for the other 10 people charged with kidnapping, assault with a firearm and false imprisonment.

Following a federal court order and the approval of the National Indian Gaming Commission, the casino was shut down and will remain closed until the dispute is settled. The gambling business was an important source of revenue for members of the tribe. It also employed around 1,100 workers.

Fresno Bee: 15 charged with felonies in Chukchansi Gold casino armed confrontation

Madera County District Attorney Michael Keitz announced that 15 people involved in the armed confrontation at the Chukchansi Casino on October 9 have been charged with multiple felonies. Led by Tex McDonald, a faction of the Picayune Rancheria of Chukchansi Indians used firearms to take over the gambling venue from a rival faction overseen by Reggie Lewis and Nancy Ayala.

McDonald, his fellow tribal council member Vernon King and his tribal police chief John Olivera were among those charged with felonies including kidnapping, assault with a firearm, false imprisonment, assault with a deadly weapon, battery inflicting serious injury and assault with a stun gun.

Bail for the group leader was set at $1 million, 13 will have to come up with $800,000 apiece if they want to make bail, and Eric Domingo Flores Suniga was charged with assault with a stun gun, so his was set at just $25,000. In 1992 and 1995, McDonald was taken in for assault with a deadly weapon and making criminal threats.

The two tribal groups have been fighting over the casino for a while now. For most of 2014, the venue was controlled by McDonald and his men, but on August 24 the Lewis group entered the hotel and set up offices on the 10th and 11th floors. Their rivals forced an armed takeover on October 9.

During a hearing in U.S. District Court in Fresno on Wednesday, Judge Lawrence O’Neill referred to a declaration filed by the state Attorney General indicating that at least one member of the Lewis-Ayala security forces was armed with a gun. Other guns were found on the casino grounds, too, in the possession of the Lewis-Ayala faction’s security forces, the declaration said.

According to Madera County district attorney Michael Keitz, if convicted of all charges, the accused could face a “significant amount” of time in prison.

David Leibowitz, a spokesman for the McDonald faction, said: “We fully intend to work cooperatively with the District Attorney’s Office to bring this matter to a quick conclusion and to clear these trained professionals’ and leaders’ names, just as we will continue to pursue justice for the Chukchansi people in the eyes of the law.”

AllGov: Armed Tribal Factions Square off Inside Their Casino

The Chukchansi Gold Resort Casino in Coarsegold was shut down by U.S. District Judge Lawrence J. O’Neill, following an armed dispute between rival factions of the Picayune Rancheria of Chukchansi Indians.

The judge issued an emergency order temporarily closing the place and said that the tribe may have violated its agreement with the state by endangering the health and safety of customers at the casino. He wanted to stop both factions from using force “to change the circumstances currently in effect with respect to the operation of or control over the casino.”

Tribal police and other security personnel have to stay at least 1,000 feet from the gambling venue.

Ever since the casino opened in 2003, tribe members have been arguing and battling. The tribe shrunk from 1,800 to 900 as hundreds have been stripped of their tribal affiliation. Along with their share of casino profits, disenrolled members lose education privileges, as well as health and tax benefits.

Two sides were formed and they both have their own council. After appealing to the US Bureau of Indian Affairs for recognition and being told to work it out themselves, they started to attack each other.

The temporary order issued by Judge O’Neill will be reviewed soon.

Reports say the incident was at the center of a power struggle between factions of a Native American tribe.

Prosecutors have filed charges against 15 people involved in the armed takeover and one of the defendants was arrested by Madera County authorities. Eric Domingo Flores Suniga, 30, was charged with five counts of assault with a stun gun. The other defendants were accused of kidnapping, false imprisonment and assault with a firearm.

According to online gambling news, it all started from a dispute between two rival tribe factions. They fought over who gets control over the Chukchansi Gold Resort and Casino, located northeast of Fresno.

After one tribal group attempted a takeover last month, authorities decided to close the gambling venue. Madera County District Attorney Michael Keitz gave the suspects two options, to either surrender or be arrested, but lawyer David Leibowitz said his clients did nothing illegal and did not endanger the lives of any casino customers.

Associated Press: 15 Charged in Armed Takeover that Closed Casino

Prosecutors have charged 15 people in an armed dispute between two rival factions of the Picayune Rancheria of the Chukchansi Indians, who fought to get control over the Chukchansi Gold Resort and Casino.

More than a dozen people stormed the venue last month, in an armed takeover that sent hundreds of gamblers running for their lives, while their chips were still on the table. Luckily, no one was hurt.

After another suspect was arrested last week, the group’s leader, 64-year-old Tex McDonald, surrendered to the Madera County Sheriff’s Office on Monday. The court set his bail at $1 million.

According to Sheriff John Anderson, three other suspects did the same, but deputies are still looking for the other 10 people charged with kidnapping, assault with a firearm and false imprisonment.

Following a federal court order and the approval of the National Indian Gaming Commission, the casino was shut down and will remain closed until the dispute is settled. The gambling business was an important source of revenue for members of the tribe. It also employed around 1,100 workers.

Fresno Bee: 15 charged with felonies in Chukchansi Gold casino armed confrontation

Madera County District Attorney Michael Keitz announced that 15 people involved in the armed confrontation at the Chukchansi Casino on October 9 have been charged with multiple felonies. Led by Tex McDonald, a faction of the Picayune Rancheria of Chukchansi Indians used firearms to take over the gambling venue from a rival faction overseen by Reggie Lewis and Nancy Ayala.

McDonald, his fellow tribal council member Vernon King and his tribal police chief John Olivera were among those charged with felonies including kidnapping, assault with a firearm, false imprisonment, assault with a deadly weapon, battery inflicting serious injury and assault with a stun gun.

Bail for the group leader was set at $1 million, 13 will have to come up with $800,000 apiece if they want to make bail, and Eric Domingo Flores Suniga was charged with assault with a stun gun, so his was set at just $25,000. In 1992 and 1995, McDonald was taken in for assault with a deadly weapon and making criminal threats.

The two tribal groups have been fighting over the casino for a while now. For most of 2014, the venue was controlled by McDonald and his men, but on August 24 the Lewis group entered the hotel and set up offices on the 10th and 11th floors. Their rivals forced an armed takeover on October 9.

During a hearing in U.S. District Court in Fresno on Wednesday, Judge Lawrence O’Neill referred to a declaration filed by the state Attorney General indicating that at least one member of the Lewis-Ayala security forces was armed with a gun. Other guns were found on the casino grounds, too, in the possession of the Lewis-Ayala faction’s security forces, the declaration said.

According to Madera County district attorney Michael Keitz, if convicted of all charges, the accused could face a “significant amount” of time in prison.

David Leibowitz, a spokesman for the McDonald faction, said: “We fully intend to work cooperatively with the District Attorney’s Office to bring this matter to a quick conclusion and to clear these trained professionals’ and leaders’ names, just as we will continue to pursue justice for the Chukchansi people in the eyes of the law.”

AllGov: Armed Tribal Factions Square off Inside Their Casino

The Chukchansi Gold Resort Casino in Coarsegold was shut down by U.S. District Judge Lawrence J. O’Neill, following an armed dispute between rival factions of the Picayune Rancheria of Chukchansi Indians.

The judge issued an emergency order temporarily closing the place and said that the tribe may have violated its agreement with the state by endangering the health and safety of customers at the casino. He wanted to stop both factions from using force “to change the circumstances currently in effect with respect to the operation of or control over the casino.”

Tribal police and other security personnel have to stay at least 1,000 feet from the gambling venue.

Ever since the casino opened in 2003, tribe members have been arguing and battling. The tribe shrunk from 1,800 to 900 as hundreds have been stripped of their tribal affiliation. Along with their share of casino profits, disenrolled members lose education privileges, as well as health and tax benefits.

Two sides were formed and they both have their own council. After appealing to the US Bureau of Indian Affairs for recognition and being told to work it out themselves, they started to attack each other.

The temporary order issued by Judge O’Neill will be reviewed soon.

After cutting off Internet access three Las Vegas luxury villas, FBI agents impersonated repair technicians to get inside and collect evidence.

Against the recommendation of an assistant U.S. attorney, Kimberly Frayn, the FBI went ahead with its plans and pretended to be repair technicians in order to get inside the villa. But lawyers representing four of the eight men charged in the case have filed a motion to dismiss all evidence collected that day. The prosecutor supposedly told FBI agents that “it was a consent issue.”

Under American laws, authorities need a warrant before searching a property, so defense lawyers challenged the actions described in detail by online gambling news, which were part of an investigation on an illegal sports betting operation.

If authorities don’t have the written permission, the person whose property is being inspected must first waive his constitutional protections against unreasonable searches. Otherwise, the evidence should not be used in trial, because it was improperly collected.

Fox News: Federal agents impersonated computer technicians to collect evidence in sports betting probe, lawyers say

FBI agents in Las Vegas had referred questions about their plan to the local US Attorney’s Office. Spokeswoman Natalie Collins said prosecutors were aware of the allegations, but declined to make any comments while the trial was pending.

According to American newspapers, the Drug Enforcement Administration set up a fake Facebook account, where it posted personal information and photos taken from the phone of a woman who had been arrested in a cocaine case. The idea was to trick her friends and associates into revealing incriminating information.

On another occasion, the FBI sent a fake news story to a suspect in a bomb-threat case, hoping he would click on the link thus allowing investigators to track down his location. The FBI had attributed the story to the Associated Press, causing the agency to react and describe the actions as “unacceptable”, claiming they undermined the publication’s credibility.

As for the gambling case, the criminal complaint revealed that the eight men came to the attention of authorities in June after requesting “an unusually large amount of electronics equipment and technical support” at their hotel. An electrical engineer working for the Las Vegas hotel said the equipment “appeared to be set up for an illegal gambling operation.”

FBI investigators tried to get into their apartment to gather evidence, but a former federal prosecutor, Mark Rasch, said the tactics they resorted will most likely not stand up in court. “Police are allowed to use a certain kind of subterfuge, but what they can’t do is create a certain kind of circumstance,” he said.

South China Morning Post: Dramatic FBI video shows how agents tricked their way into Paul Phua’s villa for gambling bust

Newspapers got their hands on 30 minutes of audio and video recordings of the FBI’s action plan to bust what appeared to be an illegal online betting operation in Las Vegas. The video was filmed through a lapel camera and shows how agents tricked their way into the villas where an alleged Asian gambling kingpin and his team were staying.

According to the defense, FBI agents shut off Internet access to Paul Phua Wei-seng’s villa at Caesars Palace, and then gained access to it by impersonating repair technicians. This is how authorities managed to collect the evidence used against the accused.

In the video obtained by the press, investigators are working on a set of code words to use while they were inside. One agent who adopted the name “Sam” – which he also used “for other stuff” in the past – is shown working on his cover story. The images briefly show another conversation about how investigators should dress.

“If you put on that shirt, you have to look the part. Go all the way,” said Mike Wood, a technician working for Caesars. He was advising Nevada Gaming Control Board Agent Ricardo Lopez before he entered one of the suites, on July 4. Lopez went back to the villa on July 5, when he pretended to fix an internet outage for several minutes.

Defense lawyer Thomas Goldstein described the operation as an “illegal search” and challenged the evidence in court.

CardsChat: Paul Phua Sports Betting Raid FBI Tactics Questioned by Legal Team

The FBI suspected that the eight men who rented villas at Caesars Palace were breaking the state’s gambling laws by running an unlicensed betting operation. Investigators spent two days working with the hotel’s computer contractor and the Nevada Gaming Control Board on shutting down their Internet access.

But they did not stop here. FBI agents impersonated repair staff to convince the customers to let them inside the apartments, and they even recorded what they found inside. The videos were the main evidence used to obtain the arrest warrant against the eight defendants.

Lawyers did not know how authorities had managed to get inside the suites until they overheard an official talk about cutting the Internet access. “They were trying everything they could to get inside without a warrant,” defense attorney Thomas Goldstein told reporters. Four out of the eight defendants have challenged the FBI’s actions in court.

Paul Phua and his son Darren were among those arrested. They were all charged with operating an illegal sports betting operation. Officials said Paul Phua is a high-ranking member of the 14K Triad, one of the world’s largest organized crime syndicates. Among gamblers, he is well-known for playing in high-stakes poker games in Macau, as well as in tournaments.

The poker community has supported the accused, and players Phil Ivey and Andrew Robl even offered $2.5 million towards Phua’s and his son’s bonds.

After cutting off Internet access three Las Vegas luxury villas, FBI agents impersonated repair technicians to get inside and collect evidence.

Against the recommendation of an assistant U.S. attorney, Kimberly Frayn, the FBI went ahead with its plans and pretended to be repair technicians in order to get inside the villa. But lawyers representing four of the eight men charged in the case have filed a motion to dismiss all evidence collected that day. The prosecutor supposedly told FBI agents that “it was a consent issue.”

Under American laws, authorities need a warrant before searching a property, so defense lawyers challenged the actions described in detail by online gambling news, which were part of an investigation on an illegal sports betting operation.

If authorities don’t have the written permission, the person whose property is being inspected must first waive his constitutional protections against unreasonable searches. Otherwise, the evidence should not be used in trial, because it was improperly collected.

Fox News: Federal agents impersonated computer technicians to collect evidence in sports betting probe, lawyers say

FBI agents in Las Vegas had referred questions about their plan to the local US Attorney’s Office. Spokeswoman Natalie Collins said prosecutors were aware of the allegations, but declined to make any comments while the trial was pending.

According to American newspapers, the Drug Enforcement Administration set up a fake Facebook account, where it posted personal information and photos taken from the phone of a woman who had been arrested in a cocaine case. The idea was to trick her friends and associates into revealing incriminating information.

On another occasion, the FBI sent a fake news story to a suspect in a bomb-threat case, hoping he would click on the link thus allowing investigators to track down his location. The FBI had attributed the story to the Associated Press, causing the agency to react and describe the actions as “unacceptable”, claiming they undermined the publication’s credibility.

As for the gambling case, the criminal complaint revealed that the eight men came to the attention of authorities in June after requesting “an unusually large amount of electronics equipment and technical support” at their hotel. An electrical engineer working for the Las Vegas hotel said the equipment “appeared to be set up for an illegal gambling operation.”

FBI investigators tried to get into their apartment to gather evidence, but a former federal prosecutor, Mark Rasch, said the tactics they resorted will most likely not stand up in court. “Police are allowed to use a certain kind of subterfuge, but what they can’t do is create a certain kind of circumstance,” he said.

South China Morning Post: Dramatic FBI video shows how agents tricked their way into Paul Phua’s villa for gambling bust

Newspapers got their hands on 30 minutes of audio and video recordings of the FBI’s action plan to bust what appeared to be an illegal online betting operation in Las Vegas. The video was filmed through a lapel camera and shows how agents tricked their way into the villas where an alleged Asian gambling kingpin and his team were staying.

According to the defense, FBI agents shut off Internet access to Paul Phua Wei-seng’s villa at Caesars Palace, and then gained access to it by impersonating repair technicians. This is how authorities managed to collect the evidence used against the accused.

In the video obtained by the press, investigators are working on a set of code words to use while they were inside. One agent who adopted the name “Sam” – which he also used “for other stuff” in the past – is shown working on his cover story. The images briefly show another conversation about how investigators should dress.

“If you put on that shirt, you have to look the part. Go all the way,” said Mike Wood, a technician working for Caesars. He was advising Nevada Gaming Control Board Agent Ricardo Lopez before he entered one of the suites, on July 4. Lopez went back to the villa on July 5, when he pretended to fix an internet outage for several minutes.

Defense lawyer Thomas Goldstein described the operation as an “illegal search” and challenged the evidence in court.

CardsChat: Paul Phua Sports Betting Raid FBI Tactics Questioned by Legal Team

The FBI suspected that the eight men who rented villas at Caesars Palace were breaking the state’s gambling laws by running an unlicensed betting operation. Investigators spent two days working with the hotel’s computer contractor and the Nevada Gaming Control Board on shutting down their Internet access.

But they did not stop here. FBI agents impersonated repair staff to convince the customers to let them inside the apartments, and they even recorded what they found inside. The videos were the main evidence used to obtain the arrest warrant against the eight defendants.

Lawyers did not know how authorities had managed to get inside the suites until they overheard an official talk about cutting the Internet access. “They were trying everything they could to get inside without a warrant,” defense attorney Thomas Goldstein told reporters. Four out of the eight defendants have challenged the FBI’s actions in court.

Paul Phua and his son Darren were among those arrested. They were all charged with operating an illegal sports betting operation. Officials said Paul Phua is a high-ranking member of the 14K Triad, one of the world’s largest organized crime syndicates. Among gamblers, he is well-known for playing in high-stakes poker games in Macau, as well as in tournaments.

The poker community has supported the accused, and players Phil Ivey and Andrew Robl even offered $2.5 million towards Phua’s and his son’s bonds.

Police revealed that Peter Foster scammed investors out of more than $10 million, in an international ponzi scheme.

The man allegedly ran a betting scheme called the Sports Trading Club, conning hundreds of Australian families. According to online gambling news, Foster told investors that he could make them a fortune through the sports betting site, an operation he ran from a hideout located in the Byron Bay area.

Using the alias Mark Hughes, the conman tricked his victims into giving him millions of dollars. Newspapers said he had raked in more than $10 million in the last few months alone, and he spent part of his illegal income on a yacht.

Police found several computers in Foster’s home office, as well as multiple mobile phones registered to different names. The equipment was all part of the plot.

The Age: Peter Foster implicated in international betting scam

Hundreds of investors could lose millions in an international betting scheme run by Peter Foster, following the notorious conman’s dramatic arrest at a luxury property near Byron Bay. The man was hiding from Australian authorities and it is believed he operated the Sports Trading Club from his hiding place.

Police raided his house on Tuesday afternoon and found six mobile phones, as well as several computers in his home office. Foster tried to flee but crashed into a neighbour’s fence and got tackled by a police officer. He allegedly tried to grab the officer’s gun and was charged with assaulting him.

The betting syndicate has offices in London, Sydney and Hong Kong, but Foster’s hideout is said to have played a key role in the operation. Sports Trading Club takes investments between $50,000 and $250,000 and places bets on sports scores, in major events around the world.

In June, the company’s UK communication manager, Patrick McMahon, told reporters that investors had received a 1900% return since January 2013. “We don’t gamble, we trade,” he said. “We make money out of other peoples’ mistakes. When one side gambles and the other trades, it is like owning the casino.”

In July, the trading company said it had gained $150 million by backing Germany to win the FIFA World Cup. It also scored a “multi-million-dollar win” by betting against Serena Williams and Novac Djokovic at the Australian Open.

Brisbane Times: Conman Peter Foster tracked for a month before arrest

Serial conman Peter Foster spent more than a year on the run before police finally arrested him in his hideout near Byron Bay. The conman had been wanted since September last year, when he failed to show up for his court date at Brisbane Federal Court. The judge found him guilty of contempt of court.

NSW Superintendent Stuart Wilkins told reporters: “We had information from the last month or so he was in and around the Byron Bay area but not a specific location so this is a good result all round. As the result of excellent community consultation and a group of people working together this person has been arrested and will be now going before courts.”

Foster, 52, is known for a series of weight loss product scams, including a nasal spray called Sensaslim. His most recent appearance in court was for breaching a previous order to stop selling these products. Over the past year, the man had been telling the media that he was in Fiji, even sending photos of himself relaxing in a chair and reading a newspaper printed in Fiji.

The police said they were not sure how long he had been hiding at the Ewingsdale property where he was caught and arrested this week. He was chased by local detectives and a TV camera crew before being tackled.

He was charged with assaulting police officers and resisting arrest, but Detective Senior Constable Gary Sheehan told reporters: “He did show a great deal of concern about his mother…but other than that he was quite cooperative. He was very cooperative, quite remorseful and, in fact, he actually apologized to me in the courtroom.”

Daily Telegraph: Con man Peter Foster pleads guilty to assault after grabbing detective’s gun

While authorities have their doubts about Peter Foster’s claim of looking after his ailing mother, the conman pleaded guilty of assaulting detectives during his arrest at Byron Bay. He was transported to the Arthur Gorrie prison in Brisbane.

Foster blamed his actions on the news crew’s “Rambo style” pursuit, and his solicitor said he had been “confused” after attempting to run away from the cameras and escape through a back gate.

“He had an adrenaline rush. He wanted to get away from the film crew,” solicitor Terry Fisher explained.

According to Fisher, Foster had been looking after his mother and living the life of a “monk” for the past 11 months. “He has effectively been living like a monk. He should have just blended in with the locals (in northern NSW). The fact that he’s separated from his mother is causing him a great deal of pain. That is ffecting him quite deeply,” he added.

On the other hand, Tweed-Byron Local Area Commander Superintendent Stuart Wilkins claimed that Foster had been living with a male friend. Authorities did not want to comment on the allegations that Foster was running an online betting operation.

Police revealed that Peter Foster scammed investors out of more than $10 million, in an international ponzi scheme.

The man allegedly ran a betting scheme called the Sports Trading Club, conning hundreds of Australian families. According to online gambling news, Foster told investors that he could make them a fortune through the sports betting site, an operation he ran from a hideout located in the Byron Bay area.

Using the alias Mark Hughes, the conman tricked his victims into giving him millions of dollars. Newspapers said he had raked in more than $10 million in the last few months alone, and he spent part of his illegal income on a yacht.

Police found several computers in Foster’s home office, as well as multiple mobile phones registered to different names. The equipment was all part of the plot.

The Age: Peter Foster implicated in international betting scam

Hundreds of investors could lose millions in an international betting scheme run by Peter Foster, following the notorious conman’s dramatic arrest at a luxury property near Byron Bay. The man was hiding from Australian authorities and it is believed he operated the Sports Trading Club from his hiding place.

Police raided his house on Tuesday afternoon and found six mobile phones, as well as several computers in his home office. Foster tried to flee but crashed into a neighbour’s fence and got tackled by a police officer. He allegedly tried to grab the officer’s gun and was charged with assaulting him.

The betting syndicate has offices in London, Sydney and Hong Kong, but Foster’s hideout is said to have played a key role in the operation. Sports Trading Club takes investments between $50,000 and $250,000 and places bets on sports scores, in major events around the world.

In June, the company’s UK communication manager, Patrick McMahon, told reporters that investors had received a 1900% return since January 2013. “We don’t gamble, we trade,” he said. “We make money out of other peoples’ mistakes. When one side gambles and the other trades, it is like owning the casino.”

In July, the trading company said it had gained $150 million by backing Germany to win the FIFA World Cup. It also scored a “multi-million-dollar win” by betting against Serena Williams and Novac Djokovic at the Australian Open.

Brisbane Times: Conman Peter Foster tracked for a month before arrest

Serial conman Peter Foster spent more than a year on the run before police finally arrested him in his hideout near Byron Bay. The conman had been wanted since September last year, when he failed to show up for his court date at Brisbane Federal Court. The judge found him guilty of contempt of court.

NSW Superintendent Stuart Wilkins told reporters: “We had information from the last month or so he was in and around the Byron Bay area but not a specific location so this is a good result all round. As the result of excellent community consultation and a group of people working together this person has been arrested and will be now going before courts.”

Foster, 52, is known for a series of weight loss product scams, including a nasal spray called Sensaslim. His most recent appearance in court was for breaching a previous order to stop selling these products. Over the past year, the man had been telling the media that he was in Fiji, even sending photos of himself relaxing in a chair and reading a newspaper printed in Fiji.

The police said they were not sure how long he had been hiding at the Ewingsdale property where he was caught and arrested this week. He was chased by local detectives and a TV camera crew before being tackled.

He was charged with assaulting police officers and resisting arrest, but Detective Senior Constable Gary Sheehan told reporters: “He did show a great deal of concern about his mother…but other than that he was quite cooperative. He was very cooperative, quite remorseful and, in fact, he actually apologized to me in the courtroom.”

Daily Telegraph: Con man Peter Foster pleads guilty to assault after grabbing detective’s gun

While authorities have their doubts about Peter Foster’s claim of looking after his ailing mother, the conman pleaded guilty of assaulting detectives during his arrest at Byron Bay. He was transported to the Arthur Gorrie prison in Brisbane.

Foster blamed his actions on the news crew’s “Rambo style” pursuit, and his solicitor said he had been “confused” after attempting to run away from the cameras and escape through a back gate.

“He had an adrenaline rush. He wanted to get away from the film crew,” solicitor Terry Fisher explained.

According to Fisher, Foster had been looking after his mother and living the life of a “monk” for the past 11 months. “He has effectively been living like a monk. He should have just blended in with the locals (in northern NSW). The fact that he’s separated from his mother is causing him a great deal of pain. That is ffecting him quite deeply,” he added.

On the other hand, Tweed-Byron Local Area Commander Superintendent Stuart Wilkins claimed that Foster had been living with a male friend. Authorities did not want to comment on the allegations that Foster was running an online betting operation.

Australian newspapers say Crown Resorts and the New South Wales government are hiding information on the new Barangaroo VIP casino.

James Packer’s plan to build a high-roller casino in Barangaroo has received a lot of scrutiny. There was so much attention surrounding the project that everyone just assumed that all details of the agreement had been revealed, in a perfectly transparent approval process.

As it turns out, this is not entirely true. Word got out that both partners of the deal – the government of New South Wales and Crown Resorts – have been keeping important details away from the public eye, and now online gambling news outlets are raging over it.

The Barangaroo casino has received approval last year and is scheduled to open in November 2019. The venue is targeted exclusively at VIP customers and high-rollers.

Sydney Morning Herald: James Packer casino documents referred to committee after NSW government fights public release

The New South Wales government is refusing to reveal redacted information from an agreement with James Packer, regarding measures to combat organized crime and corruption at his new casino in Sydney. The question of whether the information should be made public was referred to a parliamentary committee, which will discuss the matter soon.

Greens MP John Kaye, who has been pushing for the public release of the information, said: “The Parliament has set up a secret committee to look at secret documents. The public is being kept in the dark about critical anti-corruption and organized crime penetration measures at the casino. Neither the public nor the Parliament can have an informed debate about the adequacy of these measures without knowing what they are.”

According to Labor leader Luke Foley, the opposition is in favor of releasing the documents. “The opposition has a bias in favor of public release of all relevant casino documents. When the expert arbiter recommends release, that confirms our view,” he said.

Packer’s company, Crown Resorts, was recently awarded a license to operate a VIP-only casino at Barangaroo, starting November 2019. Significant parts of the deal, the so-called “VIP gaming management agreement”, were kept hidden from the public eye.

After a motion by Kaye, MPs were allowed to see the full document, but they were forbidden from disclosing its contents. However, it was revealed that the deal between Crown and the gambling regulator talks about measures to prevent organized crime infiltration and corruption at the casino.

Casino.org: Packer Sydney Casino License Docs Kept Secret from Public

Newspapers say certain documents related Packer’s license for a new casino in Sydney were stamped secret by New South Wales’ gambling regulator, the Independent Liquor and Gaming Authority.

The documents in question relate to official agreements between Crown Resorts, the NSW government and the authority responsible for overseeing the local casino industry and making sure that companies abide by the state’s gambling laws.

Eight of these were particularly interesting, as they were referring to operations that were to be executed when the license was issued. In seven out of eight documents, the names of all those involved were revealed. However, one of them was fully censored. Even the title of the agreement was kept a secret, along with the names of all parties.

The regulator said it was only allowed to reveal information related to the Casino Control Act, and only if it’s in the public interest. The authority added that it was obligated to hide all information that could cause commercial damage, which is why it hid details in the eighth agreement.

A spokesperson for the authority said: “The information redacted in the VIP Gaming Management Agreement document would, in the view of the authority, not promote the objects of the relevant act and be commercially damaging to the licensee or related entities if released. It was the authority’s view the public interest in its disclosure did not outweigh that potential harm.”

The Greens are planning to subpoena the documents in the NSW Parliament next week. “If this is entirely innocent, then the government should be happy to allow upper house MPs to see the documents,” MP John Kaye said. “If not, then it’s clear that they are running cover for James Packer and Crown.”

Premier Mike Baird added: “There’s no secrets. I know the Greens like to talk about conspiracy and secrets but there is none, as much as they look.”

ABC: High Rollers – High Risk?

Law and security experts claim Australian casinos that target Asian VIP customers risk exposing themselves to organized crime. There is a lot of money to be made in the gambling industry, and a large part of profits come from regular players, but Australian casinos seek to attract more high-rollers, particularly gamblers from China.

Since casino games are illegal on the mainland, these players often choose to spend their money in places like Macau or Australia. They are usually brought to the casino by companies called junkets, which locate, transport and provide credit for gamblers.

Crown Resorts, the Australian casino operator led by James Packer, has recently won approval to develop a six star hotel and VIP gambling venue at Barangaroo, on the shores of Sydney Harbour. According to the media, there is evidence linking junket companies to organized crime syndicates, which is why locals fear Packer’s new business will expose the country to illegal operations.

A gambling expert told reporters that junket companies “turn to organized crime to enforce gambling debts, using violence or threats of violence. It looks like casino operators relying solely on VIP customers for its profits could be facing huge difficulties, leaving the government with a problem too.

Australian newspapers say Crown Resorts and the New South Wales government are hiding information on the new Barangaroo VIP casino.

James Packer’s plan to build a high-roller casino in Barangaroo has received a lot of scrutiny. There was so much attention surrounding the project that everyone just assumed that all details of the agreement had been revealed, in a perfectly transparent approval process.

As it turns out, this is not entirely true. Word got out that both partners of the deal – the government of New South Wales and Crown Resorts – have been keeping important details away from the public eye, and now online gambling news outlets are raging over it.

The Barangaroo casino has received approval last year and is scheduled to open in November 2019. The venue is targeted exclusively at VIP customers and high-rollers.

Sydney Morning Herald: James Packer casino documents referred to committee after NSW government fights public release

The New South Wales government is refusing to reveal redacted information from an agreement with James Packer, regarding measures to combat organized crime and corruption at his new casino in Sydney. The question of whether the information should be made public was referred to a parliamentary committee, which will discuss the matter soon.

Greens MP John Kaye, who has been pushing for the public release of the information, said: “The Parliament has set up a secret committee to look at secret documents. The public is being kept in the dark about critical anti-corruption and organized crime penetration measures at the casino. Neither the public nor the Parliament can have an informed debate about the adequacy of these measures without knowing what they are.”

According to Labor leader Luke Foley, the opposition is in favor of releasing the documents. “The opposition has a bias in favor of public release of all relevant casino documents. When the expert arbiter recommends release, that confirms our view,” he said.

Packer’s company, Crown Resorts, was recently awarded a license to operate a VIP-only casino at Barangaroo, starting November 2019. Significant parts of the deal, the so-called “VIP gaming management agreement”, were kept hidden from the public eye.

After a motion by Kaye, MPs were allowed to see the full document, but they were forbidden from disclosing its contents. However, it was revealed that the deal between Crown and the gambling regulator talks about measures to prevent organized crime infiltration and corruption at the casino.

Casino.org: Packer Sydney Casino License Docs Kept Secret from Public

Newspapers say certain documents related Packer’s license for a new casino in Sydney were stamped secret by New South Wales’ gambling regulator, the Independent Liquor and Gaming Authority.

The documents in question relate to official agreements between Crown Resorts, the NSW government and the authority responsible for overseeing the local casino industry and making sure that companies abide by the state’s gambling laws.

Eight of these were particularly interesting, as they were referring to operations that were to be executed when the license was issued. In seven out of eight documents, the names of all those involved were revealed. However, one of them was fully censored. Even the title of the agreement was kept a secret, along with the names of all parties.

The regulator said it was only allowed to reveal information related to the Casino Control Act, and only if it’s in the public interest. The authority added that it was obligated to hide all information that could cause commercial damage, which is why it hid details in the eighth agreement.

A spokesperson for the authority said: “The information redacted in the VIP Gaming Management Agreement document would, in the view of the authority, not promote the objects of the relevant act and be commercially damaging to the licensee or related entities if released. It was the authority’s view the public interest in its disclosure did not outweigh that potential harm.”

The Greens are planning to subpoena the documents in the NSW Parliament next week. “If this is entirely innocent, then the government should be happy to allow upper house MPs to see the documents,” MP John Kaye said. “If not, then it’s clear that they are running cover for James Packer and Crown.”

Premier Mike Baird added: “There’s no secrets. I know the Greens like to talk about conspiracy and secrets but there is none, as much as they look.”

ABC: High Rollers – High Risk?

Law and security experts claim Australian casinos that target Asian VIP customers risk exposing themselves to organized crime. There is a lot of money to be made in the gambling industry, and a large part of profits come from regular players, but Australian casinos seek to attract more high-rollers, particularly gamblers from China.

Since casino games are illegal on the mainland, these players often choose to spend their money in places like Macau or Australia. They are usually brought to the casino by companies called junkets, which locate, transport and provide credit for gamblers.

Crown Resorts, the Australian casino operator led by James Packer, has recently won approval to develop a six star hotel and VIP gambling venue at Barangaroo, on the shores of Sydney Harbour. According to the media, there is evidence linking junket companies to organized crime syndicates, which is why locals fear Packer’s new business will expose the country to illegal operations.

A gambling expert told reporters that junket companies “turn to organized crime to enforce gambling debts, using violence or threats of violence. It looks like casino operators relying solely on VIP customers for its profits could be facing huge difficulties, leaving the government with a problem too.

Adelson has managed to turn many politicians against online gambling, but supporters of the virtual industry are not giving up.

The battle over internet gambling in the US continues. While opponents of online casinos are becoming louder and more aggressive, Erik Telford, senior vice president at the Franklin Center for Government and Public Integrity in the United States, has expressed concerns about the influence industry representatives seem to have on politicians.

A few days ago, Telford made his voice heard too and came out strongly against casino mogul Sheldon Adelson’s political influence, in his bid to put an end to most forms of online gambling in the US. “When powerful gaming interests are spearheading the fight to ban online gambling, it should give you pause,” he wrote in an opinion piece published in the political newspaper The Hill.

CEO of Sands Vegas, Sheldon Adelson is one of the largest campaign contributors in America. With elections being held this year, several politicians have withdrawn their support for the online casino industry just to get on the billionaire’s good side.

“Their main policy objective is focused on federal legislation to ban online gambling outright – stifling their competition before it ever reaches the market. It is a glimpse of crony capitalism in its most naked form, and represents a very troubling assault on Internet freedom, giving government a foot in the door for a broader regulatory regime and usurping our federalist system,” Telford warned.

The Hill: Ending the cycle of casino cronyism

Online gambling news revealed that, in his campaign to restore the 2011 Wire Act, the casino mogul has drawn Sen. Lindsey Graham and Representative Jason Chaffetz on his side. But Telford characterized this as “a pretense to advance a moral good”, adding that “this policy would undermine the free market, encourage crime, and erode the constitutional concept of states’ rights.”

Telford quoted free market advocates, who believe that a regulated market would help protect players from fraud and concluded: “Just like Prohibition in the 1920’s, banning this vice would actually incentivize criminal behavior. Those fearful of fraud, child participation, and profits diverted to gangs or terrorists should push for legalization in every state to make the industry as transparent as possible.”

In a letter sent to US congressmen, representatives of the Institute For Policy Innovation wrote: “In this black market, where virtually all sites are operated from abroad, consumers have little to no protection from predatory behavior.”

At the end of his article, Telford reminded readers that legalizing this “multibillion dollar business” would make things more transparent, allowing authorities to verify industry revenues, as well as to profit from tax revenue.

Vegas Inc: At G2E, Sheldon Adelson reiterates disdain for Internet gambling

Billionaire casino mogul Sheldon Adelson continued his crusade against online gambling at this year’s Global Gaming Expo (G2E), telling those present at the trade show that internet casinos make it easy for underage users to play because “when you’re on the Internet, you cannot know your customer.”

Roger Gros, publisher of Global Gaming Business, defended the online gambling industry, claiming that the internet allows operators to authenticate players’ identities. When hearing the argument that internet gambling should be legal because it already happens, Sheldon replied: “Then why don’t we legalize prostitution? Why don’t we legalize cocaine and heroin? That’s not a good reason, to say that they’re doing it anyway.”

Soon after Nevada, New Jersey and Delaware legalized online casino games, other states started to talk about doing the same thing. Adelson then set up the Coalition to Stop Internet Gambling, a nonprofit organization dedicated to outlawing the business once and for all.

The casino mogul wants US gambling laws to completely ban online casino games and often argues that he fears online gaming will exploit the poor by making gambling too accessible.

“I don’t want those people to get abused because when I look at people like that I see the faces of my parents,” he said in his speech. “I just don’t see that there is any compelling reason to put an electronic casino in 318 million hands.”

iGamingPlayer: New Jersey Assembly Committee Opposes Federal Online Gaming Ban

As one of the three states that have already legalized online gambling, New Jersey is trying to send out a message to Congress, urging officials to reject a federal ban on internet casinos. The industry is already established in Nevada, New Jersey and Delaware, and other states have announced their intentions to join them in opening the market.

A resolution from Assemblyman Vincent Mazzeo, who represents Atlantic City, says such a ban would not only damage New Jersey’s casino industry, but also infringe on its state’s rights.

“A federal prohibition against internet gaming would directly and negatively impact New Jersey by dismantling the investments that the state and Atlantic City casinos have already made to implement and regulate Internet gaming, taking away the economic and employment opportunities already realized by the state and its residents, and foreclosing the future potential of internet gaming to generate tens of millions of dollars in tax revenue, create high-tech software jobs, and foster valuable business ventures for Atlantic City casinos in this State,” it said.

“Internet gaming has begun to yield benefits for our state’s economy, over $80 million has been wagered, and that’s generating sorely needed tax revenue that’s serving as a stimulus for Atlantic City at this critical time,” Mazzeo explained in his statement.

While fully aware that the industry hasn’t reached its full potential, officials believe a federal ban would have a negative impact, rendering a number of investments useless and taking away millions of dollars in tax revenue.

The resolution opposes the “Restoration of America’s Wire Act” bill strongly backed by Sheldon Adelson, which is now before both houses of Congress.

Adelson has managed to turn many politicians against online gambling, but supporters of the virtual industry are not giving up.

The battle over internet gambling in the US continues. While opponents of online casinos are becoming louder and more aggressive, Erik Telford, senior vice president at the Franklin Center for Government and Public Integrity in the United States, has expressed concerns about the influence industry representatives seem to have on politicians.

A few days ago, Telford made his voice heard too and came out strongly against casino mogul Sheldon Adelson’s political influence, in his bid to put an end to most forms of online gambling in the US. “When powerful gaming interests are spearheading the fight to ban online gambling, it should give you pause,” he wrote in an opinion piece published in the political newspaper The Hill.

CEO of Sands Vegas, Sheldon Adelson is one of the largest campaign contributors in America. With elections being held this year, several politicians have withdrawn their support for the online casino industry just to get on the billionaire’s good side.

“Their main policy objective is focused on federal legislation to ban online gambling outright – stifling their competition before it ever reaches the market. It is a glimpse of crony capitalism in its most naked form, and represents a very troubling assault on Internet freedom, giving government a foot in the door for a broader regulatory regime and usurping our federalist system,” Telford warned.

The Hill: Ending the cycle of casino cronyism

Online gambling news revealed that, in his campaign to restore the 2011 Wire Act, the casino mogul has drawn Sen. Lindsey Graham and Representative Jason Chaffetz on his side. But Telford characterized this as “a pretense to advance a moral good”, adding that “this policy would undermine the free market, encourage crime, and erode the constitutional concept of states’ rights.”

Telford quoted free market advocates, who believe that a regulated market would help protect players from fraud and concluded: “Just like Prohibition in the 1920’s, banning this vice would actually incentivize criminal behavior. Those fearful of fraud, child participation, and profits diverted to gangs or terrorists should push for legalization in every state to make the industry as transparent as possible.”

In a letter sent to US congressmen, representatives of the Institute For Policy Innovation wrote: “In this black market, where virtually all sites are operated from abroad, consumers have little to no protection from predatory behavior.”

At the end of his article, Telford reminded readers that legalizing this “multibillion dollar business” would make things more transparent, allowing authorities to verify industry revenues, as well as to profit from tax revenue.

Vegas Inc: At G2E, Sheldon Adelson reiterates disdain for Internet gambling

Billionaire casino mogul Sheldon Adelson continued his crusade against online gambling at this year’s Global Gaming Expo (G2E), telling those present at the trade show that internet casinos make it easy for underage users to play because “when you’re on the Internet, you cannot know your customer.”

Roger Gros, publisher of Global Gaming Business, defended the online gambling industry, claiming that the internet allows operators to authenticate players’ identities. When hearing the argument that internet gambling should be legal because it already happens, Sheldon replied: “Then why don’t we legalize prostitution? Why don’t we legalize cocaine and heroin? That’s not a good reason, to say that they’re doing it anyway.”

Soon after Nevada, New Jersey and Delaware legalized online casino games, other states started to talk about doing the same thing. Adelson then set up the Coalition to Stop Internet Gambling, a nonprofit organization dedicated to outlawing the business once and for all.

The casino mogul wants US gambling laws to completely ban online casino games and often argues that he fears online gaming will exploit the poor by making gambling too accessible.

“I don’t want those people to get abused because when I look at people like that I see the faces of my parents,” he said in his speech. “I just don’t see that there is any compelling reason to put an electronic casino in 318 million hands.”

iGamingPlayer: New Jersey Assembly Committee Opposes Federal Online Gaming Ban

As one of the three states that have already legalized online gambling, New Jersey is trying to send out a message to Congress, urging officials to reject a federal ban on internet casinos. The industry is already established in Nevada, New Jersey and Delaware, and other states have announced their intentions to join them in opening the market.

A resolution from Assemblyman Vincent Mazzeo, who represents Atlantic City, says such a ban would not only damage New Jersey’s casino industry, but also infringe on its state’s rights.

“A federal prohibition against internet gaming would directly and negatively impact New Jersey by dismantling the investments that the state and Atlantic City casinos have already made to implement and regulate Internet gaming, taking away the economic and employment opportunities already realized by the state and its residents, and foreclosing the future potential of internet gaming to generate tens of millions of dollars in tax revenue, create high-tech software jobs, and foster valuable business ventures for Atlantic City casinos in this State,” it said.

“Internet gaming has begun to yield benefits for our state’s economy, over $80 million has been wagered, and that’s generating sorely needed tax revenue that’s serving as a stimulus for Atlantic City at this critical time,” Mazzeo explained in his statement.

While fully aware that the industry hasn’t reached its full potential, officials believe a federal ban would have a negative impact, rendering a number of investments useless and taking away millions of dollars in tax revenue.

The resolution opposes the “Restoration of America’s Wire Act” bill strongly backed by Sheldon Adelson, which is now before both houses of Congress.

The Trade and Industry department wrote an angry letter detailing the Gambling Board’s alleged graft and financial mismanagement.

Last month, South Africa’s Trade and Industry Minister Rob Davies suspended the entire Gambling Board, accusing its members of corruption, intimidation of staff, theft of evidence, wasteful spending of funds, as well as other illegalities.

The department’s oversight committee asked the minister to provide his reasons by Friday, and chairwoman Joan Fubbs received a letter detailing the accusations. Lionel October, the department’s director, said the suspension had been a “precautionary” measure. He spoke on behalf of Davies, who was traveling abroad.

Another letter written by the two administrators appointed by Davies after the suspension and addressed to Fubbs said the former board’s problems went even deeper.

IOL Independent: Call for probe into graft at gambling board

The reasons behind Davies’ decision to suspend the board include corruption, intimidation and bullying of employees, running up an overdraft on the board’s bank account, fruitless and wasteful expenditure. Former members of the board have also been accused of theft of evidence and illegally designating a member whose term had expired to serve as a consultant.

According to online gambling news, a whistleblower also revealed that chairwoman Linda de Vries and deputy chairwoman Nana Magomola were both members and executive director, respectively, of the National Responsible Gambling Foundation.

The two had never disclosed this information to the minister, as required by law. Members of the board have allegedly run up an overdraft without asking the finance minister for permission, and failed to audit the trust fund or to disclose this.

Further investigations revealed that the board had signed a 9-year lease for an office space, although it only had 16 employees and was already occupying premises in the trade and industry department’s building, at a cost of R23.2 million over 15 years. The new space was leased at an additional cost of R58.4 million, which could not be justified.

The board reported a loss of R4 million in 2013-2014, and a deficit of R4.8 million during the previous year. At present, its liabilities exceed its assets by R8.1 million.

Casinos-Online: South African Minister Opens Up On Gambling Board Scandal (Update)

Trade and Industry Minister Rob Davies belatedly briefed the parliamentary committee on the reasons why he chose to suspend the entire South African National Gambling Board six weeks ago.

Joan Fubbs, chair of the parliamentary trade and industry portfolio committee, demanded details on the scandal, describing the government’s actions as lacking transparency.
Allegations of maladministration, wasteful spending and corrupt activities were included in a written brief put together by the minister and presented by the DTI director general.

As a first step, Davies ordered an investigation into the board’s conduct and appointed two temporary administrators to run the organization until investigators shed some light on the issue.

In his brief, the minister described the suspensions as a “precautionary”. A report by the auditor-general indicated possible contraventions of the Public Finance Management Act, claiming that the board had “…failed to prevent irregular, fruitless and wasteful expenditure, and made overdraft on the entity’s bank account without the approval of the minister of finance”.

Other allegations include breaking the state’s laws by “allowing members whose term of office had expired to continue participating in the board’s activities and representing the NGB”, unlawful staff appointments, corrupt activity, tyrannical behavior toward staff and the theft of evidential material.

Spokesman Dean Macpherson MP added that members of the board had increased their own salaries by a “staggering” 46% over the past year, spending an additional R2.7 million on international travel. Macpherson said his party would propose that criminal charges be laid against any illegal behavior that can be proved.

The NGB is responsible for overseeing South Africa’s entire gambling industry, which made a total profit of R21.8 billion in 2013 and generated R2.2 billion in tax revenues. Most of it came from land based casinos.

MailandGuardian: NEF boss stays put as auditors probe graft claims

The chief executive of the National Empowerment Fund (NEF) appeared in the newspapers after being accused of corruption, fraud and breaking the country’s gambling laws. An investigation is under way, probing the allegations.

Following instructions given by Trade and Industry Minister Rob Davies, the board of the NEF has appointed an auditing firm to “determine the veracity of the allegations”. Deloitte is now looking into the matter to find out if the accusations brought against Philisiwe Mthethwa and two senior officials are true.

An anonymous whistleblower claimed the organization’s senior manager has committed fraud and was guilty of corruption. It was speculated that Mthethwa would be suspended during the investigation, but the board then decided against it.

“After having taken independent legal advice, after a considered deliberation and pending the results of Deloitte’s report on the veracity of the allegations, the board of trustees decided not to suspend any of the individuals who are the subject of the allegations,” a statement said.

“We are confident that no member of the NEF will do anything to ­compromise the integrity of the investigation, and have received commitments from the affected individuals to that effect.”

The Trade and Industry department wrote an angry letter detailing the Gambling Board’s alleged graft and financial mismanagement.

Last month, South Africa’s Trade and Industry Minister Rob Davies suspended the entire Gambling Board, accusing its members of corruption, intimidation of staff, theft of evidence, wasteful spending of funds, as well as other illegalities.

The department’s oversight committee asked the minister to provide his reasons by Friday, and chairwoman Joan Fubbs received a letter detailing the accusations. Lionel October, the department’s director, said the suspension had been a “precautionary” measure. He spoke on behalf of Davies, who was traveling abroad.

Another letter written by the two administrators appointed by Davies after the suspension and addressed to Fubbs said the former board’s problems went even deeper.

IOL Independent: Call for probe into graft at gambling board

The reasons behind Davies’ decision to suspend the board include corruption, intimidation and bullying of employees, running up an overdraft on the board’s bank account, fruitless and wasteful expenditure. Former members of the board have also been accused of theft of evidence and illegally designating a member whose term had expired to serve as a consultant.

According to online gambling news, a whistleblower also revealed that chairwoman Linda de Vries and deputy chairwoman Nana Magomola were both members and executive director, respectively, of the National Responsible Gambling Foundation.

The two had never disclosed this information to the minister, as required by law. Members of the board have allegedly run up an overdraft without asking the finance minister for permission, and failed to audit the trust fund or to disclose this.

Further investigations revealed that the board had signed a 9-year lease for an office space, although it only had 16 employees and was already occupying premises in the trade and industry department’s building, at a cost of R23.2 million over 15 years. The new space was leased at an additional cost of R58.4 million, which could not be justified.

The board reported a loss of R4 million in 2013-2014, and a deficit of R4.8 million during the previous year. At present, its liabilities exceed its assets by R8.1 million.

Casinos-Online: South African Minister Opens Up On Gambling Board Scandal (Update)

Trade and Industry Minister Rob Davies belatedly briefed the parliamentary committee on the reasons why he chose to suspend the entire South African National Gambling Board six weeks ago.

Joan Fubbs, chair of the parliamentary trade and industry portfolio committee, demanded details on the scandal, describing the government’s actions as lacking transparency.
Allegations of maladministration, wasteful spending and corrupt activities were included in a written brief put together by the minister and presented by the DTI director general.

As a first step, Davies ordered an investigation into the board’s conduct and appointed two temporary administrators to run the organization until investigators shed some light on the issue.

In his brief, the minister described the suspensions as a “precautionary”. A report by the auditor-general indicated possible contraventions of the Public Finance Management Act, claiming that the board had “…failed to prevent irregular, fruitless and wasteful expenditure, and made overdraft on the entity’s bank account without the approval of the minister of finance”.

Other allegations include breaking the state’s laws by “allowing members whose term of office had expired to continue participating in the board’s activities and representing the NGB”, unlawful staff appointments, corrupt activity, tyrannical behavior toward staff and the theft of evidential material.

Spokesman Dean Macpherson MP added that members of the board had increased their own salaries by a “staggering” 46% over the past year, spending an additional R2.7 million on international travel. Macpherson said his party would propose that criminal charges be laid against any illegal behavior that can be proved.

The NGB is responsible for overseeing South Africa’s entire gambling industry, which made a total profit of R21.8 billion in 2013 and generated R2.2 billion in tax revenues. Most of it came from land based casinos.

MailandGuardian: NEF boss stays put as auditors probe graft claims

The chief executive of the National Empowerment Fund (NEF) appeared in the newspapers after being accused of corruption, fraud and breaking the country’s gambling laws. An investigation is under way, probing the allegations.

Following instructions given by Trade and Industry Minister Rob Davies, the board of the NEF has appointed an auditing firm to “determine the veracity of the allegations”. Deloitte is now looking into the matter to find out if the accusations brought against Philisiwe Mthethwa and two senior officials are true.

An anonymous whistleblower claimed the organization’s senior manager has committed fraud and was guilty of corruption. It was speculated that Mthethwa would be suspended during the investigation, but the board then decided against it.

“After having taken independent legal advice, after a considered deliberation and pending the results of Deloitte’s report on the veracity of the allegations, the board of trustees decided not to suspend any of the individuals who are the subject of the allegations,” a statement said.

“We are confident that no member of the NEF will do anything to ­compromise the integrity of the investigation, and have received commitments from the affected individuals to that effect.”

Scientists have come up with a new theory on what causes gamblers to get addicted to casino games.

Whether we’re talking about alcoholism, drug abuse or gambling, all forms of addiction are linked to biological alterations in the brain. For many years, scientists have studied these issues, coming up with several theories explaining the various chemical reactions that cause people to lose control of their habits and fall prey to addiction.

According to online gambling news, a recent study suggests that the brain’s opioid systems may respond differently in pathological gamblers, influencing their control, motivation, emotional behavior, as well as the way they respond to pain or stress.

The study was presented this weekend, at the European College of Neuropsychopharmacology Congress in Berlin.

MedicalDaily: Gambling Addicts’ Brains Don’t Have The Same Opioid Systems As Others

The study was conducted on 14 pathological gamblers and 15 healthy volunteers, whose opioid receptor levels were measures by researchers with positron emission tomography scans.

At first, the scans showed no difference between the two groups, but when the subjects were given an amphetamine tablet and researchers scanned their brains again, the pill caused a high known as an endorphin rush, revealing that gamblers weren’t able to release as many endorphins as healthy subjects. Participants then answered a questionnaire which revealed that gamblers experienced a lower feeling of euphoria.

Lead researcher Dr. Inge Mick explained: “From our work, we can say two things. Firstly, the brains of pathological gamblers respond differently to this stimulation than the brains of healthy volunteers. And secondly, it seems that pathological gamblers just don’t get the same feeling of euphoria as do healthy volunteers.”

“This may go some way to explaining why the gambling becomes an addiction,” Mick concluded.

Gambling is very popular among US citizens. Reports have shown that about 2 to 3% of the country’s population is addicted. The population spends up to $5 billion on casino games every year, although gambling laws ban sports betting and online casinos in most parts of the US.

BBC News: Gambling addiction linked to brain reward system

A recent study concluded that the “high” or feeling of euphoria that comes from addictive behavior is less obvious in the brains of problem gamblers. This means that, for them, being a lucky punter is not enough to get an “endorphin rush”, so they have to search harder and play more in order to get a kick out of it.

Human brains have a natural opioid system which controls pain, reward, as well as addictive behavior. London and Cambridge researchers scanned the brains of 30 volunteers – including problem gamblers – in order to find out more about how their reward systems respond.

The small study involved 14 problem gamblers and 15 healthy volunteers, and used scans to measure the level of endorphins released under the stimulation of an amphetamine tablet. Lead researcher Dr Inge Mick, from Imperial College London, explained that gambling addicts have to work harder in order to get the same feeling of euphoria as the average person.

The way the opioid system responds could be different in alcohol or cocaine addiction, she added, but the findings could help researchers come up with treatments for problem gamblers. Around 300,000 UK players – less than 1% of the population – are suffering from this health problem. They are treated with drugs such as naltrexone and nalmefene.

Dr Mark Griffiths, professor of gambling studies at Nottingham Trent University, said: “This is an interesting study which backs up what we already know from previous research. Gambling is a behavioral addiction which is influenced by biological, psychological and social factors.”

MedicalXpress: Pathological gambling runs in families

Researchers at the University of Iowa have confirmed that pathological gambling runs in the family. According to the study, first-degree relatives of gambling addicts are eight times more likely to develop this problem than people who don’t have this sort of issue in their family.

Donald W. Black, MD, professor of psychiatry in the UI Carver College of Medicine explained: “Our work clearly shows that pathological gambling runs in families at a rate higher than for many other behavioral and psychiatric disorders.

“I think clinicians and health care providers should be alerted to the fact that if they see a person with pathological gambling, that person is highly likely to have a close relative with similar or the same problem. That is a teaching moment and they should probably encourage the patient to let their relatives know that help is available.”

The study involved 95 pathological gamblers and 91 control subjects from Iowa, matched for age, sex, and level of education. Researchers also studied their first-degree relatives, totaling another 1,075 participants – parents, siblings, and children.

According to the results of the research, 11% of the gambling relatives suffered from pathological gambling themselves; the health issue was present in only 1% of the control relatives.

“People have always thought pathological gambling ran in families – anecdotal evidence certainly suggested it. But when you finally do a study like this, which is the largest of its kind, and come up with figures like this, it is quite striking,” says Black, who was lead author of the study.

Between 0.5 and 1.5% adults living in the US suffer from gambling addiction at some point during their lives.

Scientists have come up with a new theory on what causes gamblers to get addicted to casino games.

Whether we’re talking about alcoholism, drug abuse or gambling, all forms of addiction are linked to biological alterations in the brain. For many years, scientists have studied these issues, coming up with several theories explaining the various chemical reactions that cause people to lose control of their habits and fall prey to addiction.

According to online gambling news, a recent study suggests that the brain’s opioid systems may respond differently in pathological gamblers, influencing their control, motivation, emotional behavior, as well as the way they respond to pain or stress.

The study was presented this weekend, at the European College of Neuropsychopharmacology Congress in Berlin.

MedicalDaily: Gambling Addicts’ Brains Don’t Have The Same Opioid Systems As Others

The study was conducted on 14 pathological gamblers and 15 healthy volunteers, whose opioid receptor levels were measures by researchers with positron emission tomography scans.

At first, the scans showed no difference between the two groups, but when the subjects were given an amphetamine tablet and researchers scanned their brains again, the pill caused a high known as an endorphin rush, revealing that gamblers weren’t able to release as many endorphins as healthy subjects. Participants then answered a questionnaire which revealed that gamblers experienced a lower feeling of euphoria.

Lead researcher Dr. Inge Mick explained: “From our work, we can say two things. Firstly, the brains of pathological gamblers respond differently to this stimulation than the brains of healthy volunteers. And secondly, it seems that pathological gamblers just don’t get the same feeling of euphoria as do healthy volunteers.”

“This may go some way to explaining why the gambling becomes an addiction,” Mick concluded.

Gambling is very popular among US citizens. Reports have shown that about 2 to 3% of the country’s population is addicted. The population spends up to $5 billion on casino games every year, although gambling laws ban sports betting and online casinos in most parts of the US.

BBC News: Gambling addiction linked to brain reward system

A recent study concluded that the “high” or feeling of euphoria that comes from addictive behavior is less obvious in the brains of problem gamblers. This means that, for them, being a lucky punter is not enough to get an “endorphin rush”, so they have to search harder and play more in order to get a kick out of it.

Human brains have a natural opioid system which controls pain, reward, as well as addictive behavior. London and Cambridge researchers scanned the brains of 30 volunteers – including problem gamblers – in order to find out more about how their reward systems respond.

The small study involved 14 problem gamblers and 15 healthy volunteers, and used scans to measure the level of endorphins released under the stimulation of an amphetamine tablet. Lead researcher Dr Inge Mick, from Imperial College London, explained that gambling addicts have to work harder in order to get the same feeling of euphoria as the average person.

The way the opioid system responds could be different in alcohol or cocaine addiction, she added, but the findings could help researchers come up with treatments for problem gamblers. Around 300,000 UK players – less than 1% of the population – are suffering from this health problem. They are treated with drugs such as naltrexone and nalmefene.

Dr Mark Griffiths, professor of gambling studies at Nottingham Trent University, said: “This is an interesting study which backs up what we already know from previous research. Gambling is a behavioral addiction which is influenced by biological, psychological and social factors.”

MedicalXpress: Pathological gambling runs in families

Researchers at the University of Iowa have confirmed that pathological gambling runs in the family. According to the study, first-degree relatives of gambling addicts are eight times more likely to develop this problem than people who don’t have this sort of issue in their family.

Donald W. Black, MD, professor of psychiatry in the UI Carver College of Medicine explained: “Our work clearly shows that pathological gambling runs in families at a rate higher than for many other behavioral and psychiatric disorders.

“I think clinicians and health care providers should be alerted to the fact that if they see a person with pathological gambling, that person is highly likely to have a close relative with similar or the same problem. That is a teaching moment and they should probably encourage the patient to let their relatives know that help is available.”

The study involved 95 pathological gamblers and 91 control subjects from Iowa, matched for age, sex, and level of education. Researchers also studied their first-degree relatives, totaling another 1,075 participants – parents, siblings, and children.

According to the results of the research, 11% of the gambling relatives suffered from pathological gambling themselves; the health issue was present in only 1% of the control relatives.

“People have always thought pathological gambling ran in families – anecdotal evidence certainly suggested it. But when you finally do a study like this, which is the largest of its kind, and come up with figures like this, it is quite striking,” says Black, who was lead author of the study.

Between 0.5 and 1.5% adults living in the US suffer from gambling addiction at some point during their lives.

Supporters of casino gambling in Japan have agreed to consider imposing limits for local players.

After a very long debate, Japanese lawmakers are finally ready to agree on the details of the country’s new gambling laws. Politicians have long said they were considering following Singapore’s model, a state which allows casinos, but makes them off-limits for locals. This is seen as a solution to protect citizens from the potential harms of problem gambling and addiction, while at the same time making profits from a flourishing industry.

Politicians fighting for the legalization of casino games in Japan have had a lot of pressure to deal with from opponents, who threatened to block the entire process unless similar limits were set for locals. They said in order for the new regulations to pass, it was essential that lawmakers address the issue of problem gambling.

The revision would boost chances that the bill will be passed this year as proponents hope, although it is not yet clear whether enough anti-casino lawmakers will be persuaded to provide the support it needs in both houses of parliament.

Analysts have predicted that the Japanese gambling market would be worth tens of billions of dollars a year and local authorities are hoping the newly-opened industry will help revive and boost the economy. But experts added that these figures are based on the participation of Japanese players too, and without them casino resorts would struggle to make a profit.

Reuters: Japan lawmakers say open to limits on casinos in push for bill’s passage

The Japanese Parliament is expected to discuss the matter the next week. According to online gambling news, adopting the legislation would be an essential first step to unlocking a highly profitable gambling market. Amendments have been proposed to the draft bill, which was shown to reporters on Thursday.

“The government, for the purpose of preventing the negative effects of casino facilities by non-foreign visitors, will take necessary measures regarding admittance and capacity…,” said the amended section to the bill.

If the revised regulations pass, gambling venues will be limited to tourists. Japanese media wrote casino supporters might accept these terms, to make sure the law passes. But while Prime Minister Shinzo Abe is hoping that casinos will boost the economy, researchers say these businesses will struggle without Japanese players.

Sheldon Adelson, chief operating executive of Las Vegas Sands Corp said: “From our standpoint, I will say that we will not be interested in Japan or any other country on a foreigners-only basis. We can’t do that. Our business model won’t allow it.”

The Diplomat: Casinos and Japan’s Gambling Addiction

Pachinko parlors have been very popular in Japan for a long time now. These businesses make an estimated $187 billion every year, making them the most profitable leisure activity in the country.

Pachinko is considered to be “gaming” not gambling, but the Japanese are known to be huge fans of all forms of betting, which is why US investors are pushing for politicians to lift the ban and adopt new legislation favoring casinos.

Under the country’s current laws, playing pachinko for money is illegal. While parlors are not allowed to hand out cash, they have managed to find a loophole. Once players gather enough silver balls, they are allowed to trade them in for a “special prize,” usually consisting in small things like candy or a cigarette lighter. But when they leave the venue, winners can exchange their prizes for cash.

A recent government survey revealed that nearly five million people show signs that they might be addicted to gambling. The number represents almost 5% of the country’s adult population. Besides pachinko, players have the option to bet on horse racing, bicycles and speedboats, and these activities are perfectly legal.

Prime Minister Shinzo Abe is hoping to boost tourism by legalizing casino gambling in the country, but authorities will have to come up with a policy to minimize the negative impact of gambling. Given how problematic addiction has become, introducing casino games in addition to pachinko could be a risky move.

GamingZion: Government Task Force to Help Speed up Casino Projects in Japan

The Japanese Government doesn’t have too much time to get the country’s casino industry going, so the administration has announced it was going to set up a special task force to help push things forward. Prime Minister Shinzo Abe has promised to legalize casino gambling a long time ago, as part of a reform to revive the local economy.

The casino bill has been stuck in the Diet for several months, but the administration is hoping that the new task force will help hasten the process. Some believe the initiative was meant to show foreign investors that the Government is dedicated to the cause.

Major American gambling companies said they were willing to spend billions of dollars to build resorts in Japan, once the casino bill passes. However, things need to move forward fast, in order to get everything ready for the 2020 Tokyo Olympics. If politicians don’t hurry up with the new legislation, they might miss out on billion-dollar investments.

Supporters of casino gambling in Japan have agreed to consider imposing limits for local players.

After a very long debate, Japanese lawmakers are finally ready to agree on the details of the country’s new gambling laws. Politicians have long said they were considering following Singapore’s model, a state which allows casinos, but makes them off-limits for locals. This is seen as a solution to protect citizens from the potential harms of problem gambling and addiction, while at the same time making profits from a flourishing industry.

Politicians fighting for the legalization of casino games in Japan have had a lot of pressure to deal with from opponents, who threatened to block the entire process unless similar limits were set for locals. They said in order for the new regulations to pass, it was essential that lawmakers address the issue of problem gambling.

The revision would boost chances that the bill will be passed this year as proponents hope, although it is not yet clear whether enough anti-casino lawmakers will be persuaded to provide the support it needs in both houses of parliament.

Analysts have predicted that the Japanese gambling market would be worth tens of billions of dollars a year and local authorities are hoping the newly-opened industry will help revive and boost the economy. But experts added that these figures are based on the participation of Japanese players too, and without them casino resorts would struggle to make a profit.

Reuters: Japan lawmakers say open to limits on casinos in push for bill’s passage

The Japanese Parliament is expected to discuss the matter the next week. According to online gambling news, adopting the legislation would be an essential first step to unlocking a highly profitable gambling market. Amendments have been proposed to the draft bill, which was shown to reporters on Thursday.

“The government, for the purpose of preventing the negative effects of casino facilities by non-foreign visitors, will take necessary measures regarding admittance and capacity…,” said the amended section to the bill.

If the revised regulations pass, gambling venues will be limited to tourists. Japanese media wrote casino supporters might accept these terms, to make sure the law passes. But while Prime Minister Shinzo Abe is hoping that casinos will boost the economy, researchers say these businesses will struggle without Japanese players.

Sheldon Adelson, chief operating executive of Las Vegas Sands Corp said: “From our standpoint, I will say that we will not be interested in Japan or any other country on a foreigners-only basis. We can’t do that. Our business model won’t allow it.”

The Diplomat: Casinos and Japan’s Gambling Addiction

Pachinko parlors have been very popular in Japan for a long time now. These businesses make an estimated $187 billion every year, making them the most profitable leisure activity in the country.

Pachinko is considered to be “gaming” not gambling, but the Japanese are known to be huge fans of all forms of betting, which is why US investors are pushing for politicians to lift the ban and adopt new legislation favoring casinos.

Under the country’s current laws, playing pachinko for money is illegal. While parlors are not allowed to hand out cash, they have managed to find a loophole. Once players gather enough silver balls, they are allowed to trade them in for a “special prize,” usually consisting in small things like candy or a cigarette lighter. But when they leave the venue, winners can exchange their prizes for cash.

A recent government survey revealed that nearly five million people show signs that they might be addicted to gambling. The number represents almost 5% of the country’s adult population. Besides pachinko, players have the option to bet on horse racing, bicycles and speedboats, and these activities are perfectly legal.

Prime Minister Shinzo Abe is hoping to boost tourism by legalizing casino gambling in the country, but authorities will have to come up with a policy to minimize the negative impact of gambling. Given how problematic addiction has become, introducing casino games in addition to pachinko could be a risky move.

GamingZion: Government Task Force to Help Speed up Casino Projects in Japan

The Japanese Government doesn’t have too much time to get the country’s casino industry going, so the administration has announced it was going to set up a special task force to help push things forward. Prime Minister Shinzo Abe has promised to legalize casino gambling a long time ago, as part of a reform to revive the local economy.

The casino bill has been stuck in the Diet for several months, but the administration is hoping that the new task force will help hasten the process. Some believe the initiative was meant to show foreign investors that the Government is dedicated to the cause.

Major American gambling companies said they were willing to spend billions of dollars to build resorts in Japan, once the casino bill passes. However, things need to move forward fast, in order to get everything ready for the 2020 Tokyo Olympics. If politicians don’t hurry up with the new legislation, they might miss out on billion-dollar investments.

The fate of the Taj Mahal Casino in Atlantic City will be decided later this week. The venue’s management claims the casino still has a chance to survive if the court allows the withdrawal of workers’ health care and pensions.

According to online gambling news, the Taj Mahal will close by November 13 if Trump Entertainment doesn’t get the union concessions. The Atlantic City gambling operator shut its other casino – the Trump Plaza – in September. Another three gambling venues closed this year, as Atlantic City has become less appealing to visitors over the past few years.

US Bankruptcy Judge Kevin Gross said he would rule on the issue by October 17, and added that the issue needs “a lot of analysis” and that it’s “going to take a while” until he makes a decision.

Bloomberg: Trump Casinos Fate, Union Fight to Be Decided This Week

Lawyers representing Trump Entertainment have argued that the union contract includes an unsustainable cost of about $20 million a year. Given its current financial situation, the company cannot afford to pay that, which is why it asked to cut employee benefits.

If the case succeeds, the casino operator has better chances of getting businessman Carl Icahn’s $100-million support, which could help save the casino from closure. The lenders also want to convert part of Trump Entertainment’s $292 million debt into equity.

In addition to cutting employee pensions and health care, investors also asked for $175 million in tax relief from New Jersey and Atlantic City. The program would be deferred over 5 years and the local administration might have to pass new gambling laws.

The management of the casino is seeking to transfer workers from a traditional pension plan to a 401(k) program, and to move them from to a new health care program under Affordable Care Act sponsorship. To help pay for coverage, workers would receive a $2,000 stipend.

According to lawyer Kathy L. Krieger, the law doesn’t allow a union accord to be rejected unless it is “essential” to a company’s survival.

ABC News: Icahn Aide: Taj Has to Close If Union Pact Remains

Allan Brilliant, a lawyer for business investor Carl Icahn, told US Bankruptcy Judge Kevin Gross that the casino company needs the financial relief in order to survive. Trump Entertainment has threatened to close the Taj Mahal by November 13 unless it can shed pension and health care obligations to its 3,000 employees.

“If you don’t grant the motion, it’s just not viable as a business,” Brilliant argued in front of the court. “Ultimately very quickly the casino will close. This is the window here; the window is open.”

Kris Hansen, who represented Trump Entertainment, added: “If you do grant it, we have a chance to stay alive. The cost structure of this casino doesn’t work, and it needs to be fixed. If we’re successful, employees get to keep their jobs, even though they made some concessions. Having a job is better than not having a job.”

In addition to union concessions, the company needs massive tax breaks from Atlantic City and New Jersey. Both administrations have already rejected the demand. The casino initially sought to have property taxes lowered by almost 80%. But Kathy Krieger, a lawyer for Local 54 of the Unite-HERE union, believes the investors are trying to profit on the backs of the low-wage casino employees.

“Let’s look at the poorest of the stakeholders here and make sure they give up everything permanently before we’re even willing to move. That’s absolute nonsense,” she said, adding that the businessman is “asking for major concessions that will give him a huge competitive advantage over every other casino in Atlantic City.”

After a negative response from Atlantic City Mayor Don Guardian and state Senate President Steve Sweeney, the company came forward with a different request, seeking $175 million in tax relief.

GamingZion: Union Members Make Strong Proposals to Keep Taj Mahal Open

Union members are also making efforts to stop the famous Atlantic City from closing and have proposed counteroffers to the company’s management.

While Trump Entertainment officials want to cut costs by getting rid of health care and pension plans, Local 54 of the Unite-HERE union has proposed an alternative solution: they said they would agree to smaller pension contributions, but they’re not willing to cancel pension funds altogether.

The two parties will be discussing details in a meeting, and Trump Entertainment CEO Robert Griffin did not want to comment on the union’s counteroffer. However, he added that the company “will remain committed to negotiating in good faith”.

“We hope to make the most of the three hours we will be meeting for on Friday,” he told reporters.

The fate of the Taj Mahal Casino in Atlantic City will be decided later this week. The venue’s management claims the casino still has a chance to survive if the court allows the withdrawal of workers’ health care and pensions.

According to online gambling news, the Taj Mahal will close by November 13 if Trump Entertainment doesn’t get the union concessions. The Atlantic City gambling operator shut its other casino – the Trump Plaza – in September. Another three gambling venues closed this year, as Atlantic City has become less appealing to visitors over the past few years.

US Bankruptcy Judge Kevin Gross said he would rule on the issue by October 17, and added that the issue needs “a lot of analysis” and that it’s “going to take a while” until he makes a decision.

Bloomberg: Trump Casinos Fate, Union Fight to Be Decided This Week

Lawyers representing Trump Entertainment have argued that the union contract includes an unsustainable cost of about $20 million a year. Given its current financial situation, the company cannot afford to pay that, which is why it asked to cut employee benefits.

If the case succeeds, the casino operator has better chances of getting businessman Carl Icahn’s $100-million support, which could help save the casino from closure. The lenders also want to convert part of Trump Entertainment’s $292 million debt into equity.

In addition to cutting employee pensions and health care, investors also asked for $175 million in tax relief from New Jersey and Atlantic City. The program would be deferred over 5 years and the local administration might have to pass new gambling laws.

The management of the casino is seeking to transfer workers from a traditional pension plan to a 401(k) program, and to move them from to a new health care program under Affordable Care Act sponsorship. To help pay for coverage, workers would receive a $2,000 stipend.

According to lawyer Kathy L. Krieger, the law doesn’t allow a union accord to be rejected unless it is “essential” to a company’s survival.

ABC News: Icahn Aide: Taj Has to Close If Union Pact Remains

Allan Brilliant, a lawyer for business investor Carl Icahn, told US Bankruptcy Judge Kevin Gross that the casino company needs the financial relief in order to survive. Trump Entertainment has threatened to close the Taj Mahal by November 13 unless it can shed pension and health care obligations to its 3,000 employees.

“If you don’t grant the motion, it’s just not viable as a business,” Brilliant argued in front of the court. “Ultimately very quickly the casino will close. This is the window here; the window is open.”

Kris Hansen, who represented Trump Entertainment, added: “If you do grant it, we have a chance to stay alive. The cost structure of this casino doesn’t work, and it needs to be fixed. If we’re successful, employees get to keep their jobs, even though they made some concessions. Having a job is better than not having a job.”

In addition to union concessions, the company needs massive tax breaks from Atlantic City and New Jersey. Both administrations have already rejected the demand. The casino initially sought to have property taxes lowered by almost 80%. But Kathy Krieger, a lawyer for Local 54 of the Unite-HERE union, believes the investors are trying to profit on the backs of the low-wage casino employees.

“Let’s look at the poorest of the stakeholders here and make sure they give up everything permanently before we’re even willing to move. That’s absolute nonsense,” she said, adding that the businessman is “asking for major concessions that will give him a huge competitive advantage over every other casino in Atlantic City.”

After a negative response from Atlantic City Mayor Don Guardian and state Senate President Steve Sweeney, the company came forward with a different request, seeking $175 million in tax relief.

GamingZion: Union Members Make Strong Proposals to Keep Taj Mahal Open

Union members are also making efforts to stop the famous Atlantic City from closing and have proposed counteroffers to the company’s management.

While Trump Entertainment officials want to cut costs by getting rid of health care and pension plans, Local 54 of the Unite-HERE union has proposed an alternative solution: they said they would agree to smaller pension contributions, but they’re not willing to cancel pension funds altogether.

The two parties will be discussing details in a meeting, and Trump Entertainment CEO Robert Griffin did not want to comment on the union’s counteroffer. However, he added that the company “will remain committed to negotiating in good faith”.

“We hope to make the most of the three hours we will be meeting for on Friday,” he told reporters.

Czech authorities want to introduce a new ruled for the gambling industry, seeking to tighten regulations and lift tax revenue.

Gamblers living in the Czech Republic spend more than $6 billion every year, making the local market profitable enough to spark the interest of some of the largest online gambling firms out there.

There are currently five companies dominating the Czech betting market, including Prague-listed Fortuna Entertainment, but the industry has grown over the past few years and officials believe the country is ready to open itself to foreign operators.

Under the current regulations, foreign-based online betting firms cannot provide services in the Czech Republic unless they have a physical presence in the country. In other words, they would need to obtain a license and open land-based betting shops before going live.

But now the Finance Ministry said they should be allowed to operate in the country under new gambling laws, and of course taxed accordingly.

Reuters: Czechs look to boost tax revenue with revamped gambling law

Under the current regulations, gamblers who access foreign websites risk steep fines. Betting companies that don’t hold a license in the country are not allowed to advertise their products here. But the Czech Republic has a population of 10.5 million, and the local gambling market has a lot of potential for growth.

For a while now, betting companies have been complaining about all the inconsistencies in regulation and tax policies practiced across different states of the European Union. Many operators prefer to avoid countries where regulations aren’t clearly defined, and the Czech Republic was certainly not a main hub for foreign-based operators.

But the new proposal would change the current laws to allow remote betting groups, provided that they register their operations and pay taxes to the local government. The new tax rates are expected to be finalized by the end of the year.

“Users currently bet abroad, which several foreign companies make easier by introducing sites in Czech. According to our estimates, the state misses out on more than 1 billion crowns a year in this segment,” Deputy Finance Minister Ondrej Zavodsky said.

Before going into effect, the ministry’s proposal would have to go through government consultations. The law would most likely be applicable in 2016.

Prague Post: Ministry wants to ban gambling machines in pubs, gas stations

Authorities intend to ban gambling machines from pubs, bars and gas stations located across the Czech Republic. Deputy Finance Minister Ondřej Závodský told reporters that betting offices, casinos and gambling rooms will still be legal, but a registry of gamblers and a central monitoring system will be established, to track their activity.

According to online gambling news, these gambling machines are the most harmful for problem gamblers and vulnerable players. When the new regulations come into force, the customs administration will be the new authority responsible for giving permission for new machines, instead of the Finance Ministry.

Ultimately, municipalities will have the final say when establishing the locations where operators will be allowed to open new businesses. They will also have the authority to ban this type of gambling in the area. The ministry’s only role will be to supervise the gambling industry in general.

Another measure proposed in the bill requires that the number of gambling rooms and casinos be decided according to the number of inhabitants in each region. For example, municipalities with fewer than 5,000 inhabitants will only be allowed to have one gambling room. Casinos will only be allowed to open in areas with more than 40,000 inhabitants.

The new bill is expected to be presented by the end of the year. It will also include information on new gambling fees and taxes.

Czech.cz: New bill to introduce strict gambling regulation

Finance Minister Andrej Babiš has unveiled details about the new gambling regulations proposed in the Czech Republic. Under the new laws, slot machines would be banned from pubs and bars, and moved to casinos or specialized venues. They would also have betting limits.

There are around 100,000 gambling addicts in the country; the government spends an estimated 15 billion crowns per year in health care and welfare. Several municipalities have already taken steps to ban or restrict gambling on a local level.

“The draft legislation addresses all negative impacts of gambling on the society which have been estimated at 15 billion crowns every year,” Finance Minister Andrej Babiš told reporters. “But there is more – hundreds of suicides, broken-up families, and so on. The draft should enter into force in January 2016 which gives us enough time for a proper debate and I firmly believe the bill will be approved.”

The ministry also intends to set up a central monitoring system to control gambling operations in real time. Additionally, gamblers and punters would have to register in a database, which will then be connected to other registries, such as the databases showing welfare recipients.

“We would also like to introduce principles of responsible gambling, establishing maximum hourly and monthly bet limits. On top of that, we want to prevent certain groups of people from gambling. These include gambling addicts undergoing treatment or those who owe money either to their families or to the state,” Babiš added.

The draft legislation will most likely go into force in January 2016.

Czech authorities want to introduce a new ruled for the gambling industry, seeking to tighten regulations and lift tax revenue.

Gamblers living in the Czech Republic spend more than $6 billion every year, making the local market profitable enough to spark the interest of some of the largest online gambling firms out there.

There are currently five companies dominating the Czech betting market, including Prague-listed Fortuna Entertainment, but the industry has grown over the past few years and officials believe the country is ready to open itself to foreign operators.

Under the current regulations, foreign-based online betting firms cannot provide services in the Czech Republic unless they have a physical presence in the country. In other words, they would need to obtain a license and open land-based betting shops before going live.

But now the Finance Ministry said they should be allowed to operate in the country under new gambling laws, and of course taxed accordingly.

Reuters: Czechs look to boost tax revenue with revamped gambling law

Under the current regulations, gamblers who access foreign websites risk steep fines. Betting companies that don’t hold a license in the country are not allowed to advertise their products here. But the Czech Republic has a population of 10.5 million, and the local gambling market has a lot of potential for growth.

For a while now, betting companies have been complaining about all the inconsistencies in regulation and tax policies practiced across different states of the European Union. Many operators prefer to avoid countries where regulations aren’t clearly defined, and the Czech Republic was certainly not a main hub for foreign-based operators.

But the new proposal would change the current laws to allow remote betting groups, provided that they register their operations and pay taxes to the local government. The new tax rates are expected to be finalized by the end of the year.

“Users currently bet abroad, which several foreign companies make easier by introducing sites in Czech. According to our estimates, the state misses out on more than 1 billion crowns a year in this segment,” Deputy Finance Minister Ondrej Zavodsky said.

Before going into effect, the ministry’s proposal would have to go through government consultations. The law would most likely be applicable in 2016.

Prague Post: Ministry wants to ban gambling machines in pubs, gas stations

Authorities intend to ban gambling machines from pubs, bars and gas stations located across the Czech Republic. Deputy Finance Minister Ondřej Závodský told reporters that betting offices, casinos and gambling rooms will still be legal, but a registry of gamblers and a central monitoring system will be established, to track their activity.

According to online gambling news, these gambling machines are the most harmful for problem gamblers and vulnerable players. When the new regulations come into force, the customs administration will be the new authority responsible for giving permission for new machines, instead of the Finance Ministry.

Ultimately, municipalities will have the final say when establishing the locations where operators will be allowed to open new businesses. They will also have the authority to ban this type of gambling in the area. The ministry’s only role will be to supervise the gambling industry in general.

Another measure proposed in the bill requires that the number of gambling rooms and casinos be decided according to the number of inhabitants in each region. For example, municipalities with fewer than 5,000 inhabitants will only be allowed to have one gambling room. Casinos will only be allowed to open in areas with more than 40,000 inhabitants.

The new bill is expected to be presented by the end of the year. It will also include information on new gambling fees and taxes.

Czech.cz: New bill to introduce strict gambling regulation

Finance Minister Andrej Babiš has unveiled details about the new gambling regulations proposed in the Czech Republic. Under the new laws, slot machines would be banned from pubs and bars, and moved to casinos or specialized venues. They would also have betting limits.

There are around 100,000 gambling addicts in the country; the government spends an estimated 15 billion crowns per year in health care and welfare. Several municipalities have already taken steps to ban or restrict gambling on a local level.

“The draft legislation addresses all negative impacts of gambling on the society which have been estimated at 15 billion crowns every year,” Finance Minister Andrej Babiš told reporters. “But there is more – hundreds of suicides, broken-up families, and so on. The draft should enter into force in January 2016 which gives us enough time for a proper debate and I firmly believe the bill will be approved.”

The ministry also intends to set up a central monitoring system to control gambling operations in real time. Additionally, gamblers and punters would have to register in a database, which will then be connected to other registries, such as the databases showing welfare recipients.

“We would also like to introduce principles of responsible gambling, establishing maximum hourly and monthly bet limits. On top of that, we want to prevent certain groups of people from gambling. These include gambling addicts undergoing treatment or those who owe money either to their families or to the state,” Babiš added.

The draft legislation will most likely go into force in January 2016.