Monthly Archives: March 2016

Junket operator fingers two Chinese agents over heisted Bangladeshi millions

Philippine officials heard conflicting testimony on Tuesday regarding the origins and current whereabouts of the $81m stolen from Bangladeshi central bank accounts and funneled through local casino operators.

On Tuesday, the Philippine Senate conducted its latest hearing into the missing millions, which were stolen from Federal Reserve Bank of New York accounts last month by as yet unidentified hackers.

The scandal has roped in local casino and junket operators, as well as the Rizal Commercial Banking Corporation (RCBC) and foreign remittance firm Philrem Services Inc.

Tuesday’s star witness was Kam Sin ‘Kim’ Wong (pictured), a Chinese junket operator residing in the Philippines. Wong claimed two Chinese junket agents – Gao Shu Hua from Beijing and Ding Zhi Ze from Macau – were responsible for bringing the money into the Philippines via accounts they arranged with RCBC manager Maia Santos-Deguito.

Junket operator fingers two Chinese agents over heisted Bangladeshi millions

Philippine officials heard conflicting testimony on Tuesday regarding the origins and current whereabouts of the $81m stolen from Bangladeshi central bank accounts and funneled through local casino operators.

On Tuesday, the Philippine Senate conducted its latest hearing into the missing millions, which were stolen from Federal Reserve Bank of New York accounts last month by as yet unidentified hackers.

The scandal has roped in local casino and junket operators, as well as the Rizal Commercial Banking Corporation (RCBC) and foreign remittance firm Philrem Services Inc.

Tuesday’s star witness was Kam Sin ‘Kim’ Wong (pictured), a Chinese junket operator residing in the Philippines. Wong claimed two Chinese junket agents – Gao Shu Hua from Beijing and Ding Zhi Ze from Macau – were responsible for bringing the money into the Philippines via accounts they arranged with RCBC manager Maia Santos-Deguito.

Amaya CEO Baazov takes “indefinite” paid leave of absence to deal with insider trading charges

David Baazov, chairman/CEO of Canadian online gambling giant Amaya Gaming, has announced he’s taking an “indefinite” leave of absence in a bid to distance his company from his growing insider trading scandal.

On Tuesday, Amaya issued a statement saying Baazov was “voluntarily” taking this leave of absence to “focus on preparing an offer to acquire Amaya and to avoid a distraction for the company” while he deals with the insider trading charges filed against him last week by Quebec securities regulators.

Despite his temporary exit, Baazov will continue to draw his Amaya salary and will remain a member of Amaya’s board of directors. Current Rational Group CEO Rafi Ashkenazi has been installed as Amaya’s interim CEO while Amaya director Divyesh Gadhia will serve as interim chairman. Gadhhia is also chair of the ‘independent’ special committee tasked with considering Baazov’s bid to take the company private.

The statement included a personal message from Baazov, who said he remains “dedicated to doing the right thing for Amaya and all its stakeholders.” Baazov believes stepping down “in the short term” will allow him to “vigorously contest” the charges against him while (hopefully) avoiding dragging the company down with him.

Amaya CEO Baazov takes “indefinite” paid leave of absence to deal with insider trading charges

David Baazov, chairman/CEO of Canadian online gambling giant Amaya Gaming, has announced he’s taking an “indefinite” leave of absence in a bid to distance his company from his growing insider trading scandal.

On Tuesday, Amaya issued a statement saying Baazov was “voluntarily” taking this leave of absence to “focus on preparing an offer to acquire Amaya and to avoid a distraction for the company” while he deals with the insider trading charges filed against him last week by Quebec securities regulators.

Despite his temporary exit, Baazov will continue to draw his Amaya salary and will remain a member of Amaya’s board of directors. Current Rational Group CEO Rafi Ashkenazi has been installed as Amaya’s interim CEO while Amaya director Divyesh Gadhia will serve as interim chairman. Gadhhia is also chair of the ‘independent’ special committee tasked with considering Baazov’s bid to take the company private.

The statement included a personal message from Baazov, who said he remains “dedicated to doing the right thing for Amaya and all its stakeholders.” Baazov believes stepping down “in the short term” will allow him to “vigorously contest” the charges against him while (hopefully) avoiding dragging the company down with him.

Aspers wins right to build large casino in Southampton’s Royal Pier Waterfront

The Aspers group has won the right to build a new super-casino in Southampton following a multi-year competition.

On Tuesday, Aspers announced it had been awarded the “large” casino license for Southampton’s proposed Royal Pier Waterfront development, beating out rivals Grosvenor, Global Gaming Ventures and Kymeira.

The new casino, the last of the eight large casino licenses the UK government intends to issue, will feature up to 150 electronic gaming machines and 30 gaming tables spread across a 1k-square-meter gaming floor. The project is expected to create at least 180 local jobs.

Aspers has agreed to pay £100k to the local council upon receipt of the license, plus another £150k when the £450m Royal Pier Waterfront project opens in 2021. The authority will also receive at least 2% of the casino’s gross gambling revenue while Aspers has agreed to pay an annual £50k towards the new Community Action for Responsible Gambling forum.