Monthly Archives: October 2015

Manuel Joaquim das Neves was director of the bureau for 18 years. Photo: David Wong

The head of Macau’s gambling regulator today announced he will step down, amid new regulatory challenges facing the industry and 16 consecutive months of declining gaming revenues. Director of the Gaming Inspection and Coordination Bureau Manuel Joaquim das Neves, 56, told local broadcaster TDM he intends “to take a break”, and “devote more time to family and leisure”, adding he did not have any other professional commitments.

Manuel Joaquim das Neves was director of the bureau for 18 years. Photo: David Wong

The head of Macau’s gambling regulator today announced he will step down, amid new regulatory challenges facing the industry and 16 consecutive months of declining gaming revenues. Director of the Gaming Inspection and Coordination Bureau Manuel Joaquim das Neves, 56, told local broadcaster TDM he intends “to take a break”, and “devote more time to family and leisure”, adding he did not have any other professional commitments.

Lawmaker Calls Lottery a Scam

The state lottery’s been referred to for years as a “shell game,” but now a state lawmaker is calling it an out-and-out “scam,” because it does not pay prizes of more than $600, pending new spending authority. Lawmaker LaShawn Ford says the lottery should quit selling tickets unless there’s either a budget or a continuing appropriation.

Lawmaker Calls Lottery a Scam

The state lottery’s been referred to for years as a “shell game,” but now a state lawmaker is calling it an out-and-out “scam,” because it does not pay prizes of more than $600, pending new spending authority. Lawmaker LaShawn Ford says the lottery should quit selling tickets unless there’s either a budget or a continuing appropriation.

Five Exciting New Bouts Added To One: Pride Of Lions

30 October 2015 – Singapore: The largest sports media property in Asian history, ONE Championship™ (ONE), has added five exciting new bouts to ONE: PRIDE OF LIONS which takes place on 13 November at the Singapore Indoor Stadium in Singapore. Aside from the highly-anticipated rematch between ONE Welterweight World Champion Ben Askren and challenger Luis Santos, Dejdamrong Sor Amnuaysirichoke will defend his ONE Strawweight World Championship against Yago Bryan of Brazil in the evening’s co-main event.

CEO of ONE Championship, Victor Cui stated, “2015 has been a monumental year thus far and it wouldn’t be complete without a phenomenal fight card at home in Singapore. We have added five exciting new bouts to round out an already spectacular evening of world-class mixed martial arts. Fans should get ready for another unforgettable night as our ONE Championship superstars take the stage!”

The is ONE Championship’s 9th event in the Singapore Indoor Stadium and it is proudly presented with official partners Canon, LG, G-Shock, Alienware, Berocca, Everlast, Nagaworld and Mah Pte Ltd.

Tickets for ONE: PRIDE OF LIONS are available at S$749 for Cat 1, S$158 for Cat 2, S$58 for Cat 3, S$38 for Cat 4 and S$38 for Cat 5. click here for more information.

Macau’s top gaming regulator resigns from post

The head honcho of Macau’s Gaming Inspection and Coordination Bureau (DICJ) is leaving his post amid reports of weak outlook in the coming year for the city state’s revenues.

Macau Daily Times reported Manuel Joaquim das Neves is resigning from the position he has held for 18 years because he wants “to take a break” and “devote more time to family and leisure.”

Neves will step down by November 25 when his term expires, according to the news agency citing a government statement. The 56-year-old has led the bureau for 18 years, overseeing Macau’s gaming industry grow from infancy—before U.S. casino operators Las Vegas Sands, Wynn Resorts and MGM Resorts came into the picture—right up to its explosive growth in the following years before the gaming sector’s breakdown in 2014.

The city state has been severely affected by mainland China’s slowing economy and the Chinese government’s crackdown on corruption, prompting many wealthy VIP players to steer clear of Macau’s tables. Casino gaming revenue fell by one-third in September, the 16th straight month of year-on-year declines in the Chinese territory.

IG Group CFO Christopher Hill to step down

Online trading company IG Group Holdings PLC on Thursday announced that Chief Financial Officer Christopher Hill will step down on Oct. 30 to take up the role of CFO of Hargreaves Lansdown PLC . Mr. Hill will remain employed by IG until the end of his notice period in early February or to the point he takes up his new role, whichever is sooner, and in either case will receive salary equivalent to his full notice period.

IG Group CFO Christopher Hill to step down

Online trading company IG Group Holdings PLC on Thursday announced that Chief Financial Officer Christopher Hill will step down on Oct. 30 to take up the role of CFO of Hargreaves Lansdown PLC . Mr. Hill will remain employed by IG until the end of his notice period in early February or to the point he takes up his new role, whichever is sooner, and in either case will receive salary equivalent to his full notice period.

Ex-Ladbrokes/Coral online chief John O’Reilly joins gaming technology business Grand Parade as non-executive chairman

London, 30 October 2015: Gaming technology specialist Grand Parade is delighted that long-standing gambling industry executives John O’Reilly and Martyn Miller are set to join a significantly boosted management team.

O’Reilly joins as non-executive chairman, bringing with him over 25 years of experience within the gambling industry, first at Ladbrokes where he led the eGaming division from inception in 1998 to 2010, and latterly as MD of Coral Interactive where he was pivotal in reviving the fortunes of the now vibrant Coral online betting and gaming business.

O’Reilly said what excited him about the opportunity to join Grand Parade was that it is at the forefront of the technology-driven changes that are set to transform the industry.

“There has never been a more exciting time to be working in the gambling industry. The innovative work that Grand Parade is doing for its customers is exemplary of the degree to which service providers can provide very significant value-add to gambling operators.”

WPT China National Opens with Wet & Wild Party

Ourgame has got game when it comes to throwing a moonlight pool soiree. At first blush, one might gleefully assume their newly acquired WPT brand, stands for World “Party” Tour after Monday night’s pomp and bass. After arriving, I was ushered past the velvety ropes to take in a runway fashion show. I looked on with actress Shannon Elizabeth and the WPT family as the Royal Flush Girls strutted down a runway flanked by water and lights. We were immersed in music as the DJ spun high-energy tracks, and we were inundated with more models. Models strutted in lingerie down the mid-pool catwalk, white and black bunny-costumed cuties were hopping by, and the obligatory models poppin’ bottles ensued throughout the evening.

Following the fashion show, Ourgame CEO Frank Ng and his counterpart and WPT CEO and President Adam Pliska welcomed everyone and expressed their excitement for their fresh partnership. They invoked such fervor with their champagne toasts that a pack of boisterous belles corralled the gents and sent them diving, fully clothed, to the bottom of pool. The ubiquitous oversized water pistols facilitated an abrupt escalation of water warfare. Lead by the guerrilla tactics of the drenched Frank and Adam, guests were systematically drawn into the nautical fracas. The DJ team took turns, as one ripped inspired guitar solos to accompanying the beats, another tackled unsuspecting innocents into the sapphire waters.

The party imminently descended into a riotous mix of chicken fighting, dunking, inflatable animal jousting, dancing (both in the pool, out of the pool and naturally, the catwalk amidst the pool). Combatants took short respites for refreshments of Moscow Mules, Red Bull vodkas, and wine, only to get drawn into conga lines led by a, seemingly appropriately placed, cow-mascot costumed sprite. One could not turn their head without seeing an audacious site as fire-breathers, professional dancers, performers, and attendees couldn’t hold a smirk without it evolving promptly into an ear-to-ear grin. This menagerie of mischief was not complete until a gorilla joined the party, making it officially bananas.

“We wanted to show everybody that in this acquisition a really great thing happened,” Pliska said. “It allows us to be creative and fun and to just say to the world: ‘You are welcome in, this has been new WPT and it’s time for everyone to get involved and just have fun.’”

Bangor casino raises stakes in tax dispute with city

In an appeal filed this month with the Maine State Board of Property Tax Review , the casino argued the city overvalued its Main Street gaming properties and leases by $61.98 million, more than half the venue’s total assessed value. If the casino prevails in the dispute, the city could be forced to refund $1.35 million of the $2.14 million in property taxes the casino already paid for the properties for the 2014 tax year.

Bangor casino raises stakes in tax dispute with city

In an appeal filed this month with the Maine State Board of Property Tax Review , the casino argued the city overvalued its Main Street gaming properties and leases by $61.98 million, more than half the venue’s total assessed value. If the casino prevails in the dispute, the city could be forced to refund $1.35 million of the $2.14 million in property taxes the casino already paid for the properties for the 2014 tax year.

DraftKings raising another $200m, letting staff play ‘intra-company’ DFS games

The negative media onslaught over daily fantasy sports must be costing operators a fortune in legal fees, as DraftKings has reportedly gone looking for another $200m in venture capital.

On Thursday, Boston Business Journal technology editor Sara Castellanos reported that the Boston-based DraftKings was “quietly raising” an additional $200m in investor funding, suggesting that the data leak controversy hasn’t dimmed the company’s appeal in the eyes of deep-pocketed speculators.

While the round hasn’t officially closed, the extra scratch would bring total VC investment in DraftKings to around $630m, according to research firm PitchBook. That would put DraftKings’ valuation somewhere in the $2b range, having already achieved so-called ‘unicorn’ status following its $300m funding round this summer.

Castellanos reported that DraftKings CEO Jason Robins gave a keynote speech at an awards ceremony in Boston on Wednesday at which he claimed his company had raised over $500m to date, higher than the $426m the company has previously cited. A DraftKings spokesman later said the company hadn’t raised more money than it had disclosed following this summer’s funding round.