Monthly Archives: May 2016

Macau’s gaming-related crime on the rise

Macau‘s overall crime rate fell in the first quarter of 2016 although there was a significant spike in some gaming-related crimes.

Macau Secretary for Security Wong Sio Chak delivered the special administrative region’s latest crime statistics on Monday, which showed police filing a total of 3,333 criminal reports in the three months ending March 31, a 7.1% decrease over the same period last year.

While most subcategories of crime were also down, those related to gaming activities were on the up, a trend that has been building over the past year. Police investigated 368 gaming-related cases in Q1, 11.2% higher than in Q1 2015, while the number of suspects directed to the Public Prosecutor’s Office rose 17.5% to 424.

The number of ‘crimes against individuals’ was up 2.8% to 626. This category includes ‘illegal detention,’ which increased nearly one-third to 89 cases. Illegal detentions in Macau are traditionally associated with individuals being unable to repay gambling loans, leading the lenders to forcibly detain the debtors until they can contact a friend or relative to honor the debt.

Will Singapore Pools’ new sports betting site launch in time for Euro 2016?

It’s anybody’s guess as to whether Singapore Pools will be able to launch its new online sports betting site in time for the Euro 2016 football tournament.

In February 2015, Singapore’s new Remote Gambling Act (RGA) took effect, prohibiting all online gambling sites except those that divert most of their proceeds to charitable and other social causes. Unsurprisingly, the new act led to an exodus of betting sites that had been serving the market.

Singapore Pools, which holds a monopoly on sports lottery products in the city-state, was given six months in which to apply for an exemption to the RGA. The company duly submitted its application last July, but was warned at the time that the approval process could take up to one year.

Fast-forward 11 months and Singapore Pools is no closer to launching its new site. This, despite less than two weeks remaining to the June 10 kickoff of Euro 2016. The Straits Times recently contacted the Ministry of Home Affairs to inquire about the state of Singapore Pools’ application, only to be told the paperwork is “currently being evaluated.”

Will Singapore Pools’ new sports betting site launch in time for Euro 2016?

It’s anybody’s guess as to whether Singapore Pools will be able to launch its new online sports betting site in time for the Euro 2016 football tournament.

In February 2015, Singapore’s new Remote Gambling Act (RGA) took effect, prohibiting all online gambling sites except those that divert most of their proceeds to charitable and other social causes. Unsurprisingly, the new act led to an exodus of betting sites that had been serving the market.

Singapore Pools, which holds a monopoly on sports lottery products in the city-state, was given six months in which to apply for an exemption to the RGA. The company duly submitted its application last July, but was warned at the time that the approval process could take up to one year.

Fast-forward 11 months and Singapore Pools is no closer to launching its new site. This, despite less than two weeks remaining to the June 10 kickoff of Euro 2016. The Straits Times recently contacted the Ministry of Home Affairs to inquire about the state of Singapore Pools’ application, only to be told the paperwork is “currently being evaluated.”

World Series of Poker 2016:  What to Watch for During the Series’ 47th Edition

It’s almost here: on May 31, the World Series of Poker 2016 opens its doors at the Rio in Las Vegas, and another year of memorable play and amusing histrionics no doubt beckon. For those already in town and for locals here on Tuesday, there’s a Mega Satellite for the Colossus II, the popular event […]

The post World Series of Poker 2016:  What to Watch for During the Series’ 47th Edition appeared first on .

Byron Kaverman to Complete $50,000 Ironman Bet

Byron Kaverman is the latest high-stakes poker player to enter into a crazy prop bet with millionaire businessman and gambling voyeur, Bill Perkins. Despite paying $600,000 to Dan Bilzerian back in March after he took the wrong side of a Vegas to LA cycle bet, Perkins is back on the grind with another risky wager. […]

The post Byron Kaverman to Complete $50,000 Ironman Bet appeared first on .

OPAP profit falls more than one-quarter following new retroactive tax hike

Greek betting operator OPAP started 2016 on the wrong note as its profit fell more than one-quarter due to increased taxation.

According to an interim management statement released Monday, OPAP’s gross gaming revenue fell 4.4% to €340.7m in the three months ending March 31. Net gaming revenue was down 2.5% to €153.8m, but applying the new 35% gaming tax retroactively to Jan. 1, net revenue was down 11.5% to €139.6m.

The retroactive tax took an even greater toll on quarterly profits, which would have fallen 9% to €52.8m but actually fell 26.3% to €42.8m. Profits would have been even lower had the company not kept a sharp lid on costs, including cutting CSR expenses in half, which led to a 24% reduction in total marketing spending.

The struggling Greek economy took a bite out of OPAP’s Stihima sports betting revenue, which fell 14.1% to €102.5m. The betting decline was partially offset by a 2.4% rise in lottery revenue to €201.1m, while the Instant & Passive division was down 8.7% to €37.1m.

CVC Capital Partners acquire Italian betting operator Sisal Group for €1b

Private equity firm CVC Capital Partners has further expanded its gambling portfolio by acquiring Italian betting operator Sisal Group.

On Monday, CVC announced that it had reached a deal to acquire Sisal from its current trio of private equity owners Apax Partners, Permira and Clessidra. The companies expect the transaction to be complete by the end of Q3 2016.

The deal, which includes CVC assuming Sisal’s €966m debt, values the Italian firm at around €1b. In 2015, Sisal reported a net loss of €40m on earnings of €182m and revenue of €787m, of which more than one-fifth came via Sisal’s payment services division SisalPay.

Formed in 1946, Sisal was the first company licensed by the Italian state to conduct legal gaming operations. Its business has since grown to encompass a retail network of around 45k outlets offering everything from lottery products, the Sisal Matchpoint sports and race betting brand, video lottery terminals and amusement with prizes (AWP) machines.