South Korea’s gambling tax revenue rose by 4 percent in 2015 amid persisting weakness in the Asian gambling sector.

Thanks to the gambling sector’s increased sale, the Asian country bucked the regional downward trend of gambling tax revenues and posted a KRW2.42 trillion (US$2.06 billion) profit in 2015 from KRW2.32 trillion (US$1.98 billion) in 2014.

Citing statistics from South Korea’s National Gambling Control Commission, Yonhap News Agency reported that the tax revenue from the gambling sector increased last year as its sales grew 3.1 percent year-on-year to KRW 20.5 trillion (US$17.47 billion).

South Korean government’s total gaming tax intake were collected from all gambling related businesses, including casinos and horse race betting.

South Korea’s gambling tax revenue rose by 4 percent in 2015 amid persisting weakness in the Asian gambling sector.

Thanks to the gambling sector’s increased sale, the Asian country bucked the regional downward trend of gambling tax revenues and posted a KRW2.42 trillion (US$2.06 billion) profit in 2015 from KRW2.32 trillion (US$1.98 billion) in 2014.

Citing statistics from South Korea’s National Gambling Control Commission, Yonhap News Agency reported that the tax revenue from the gambling sector increased last year as its sales grew 3.1 percent year-on-year to KRW 20.5 trillion (US$17.47 billion).

South Korean government’s total gaming tax intake were collected from all gambling related businesses, including casinos and horse race betting.

This is a case of one man’s trash being another man’s treasure.

Macau junket investor Iao Kun Group Holding Company (IKGH) is convinced that it made a good decision by buying Jeju Sun Hotel & Casino on South Korea’s Jeju Island from Philippine casino operator Bloomberry Resorts Corporation.

Bloomberry Resorts announced Thursday that it sold Jeju Sun to IKGH for KRW 117.5 billion (US$102.6 million). Analysts said the move to sell Bloomberry’s assets in Jeju Island would help eliminate the financial drag on its operations.

But unlike Bloomberry, IKGH sees the acquisition as an “optimal way to diversify outside of Macau,” noting the potential of VIP operations on the island to grow rapidly. It will also make IKGH the first Macau gaming operator to have a gaming license in Jeju.

German gambling operator mybet Holdings SE will close their online poker room on June 30. The iPoker skin has not made the cut as mybet prepares to launch a new platform.

Another online poker room bites the dust as the German gaming outfit mybet Holding SE issued a press release stating their online poker room would be closing for business.

The iPoker skin plans to shut the cyber doors on June 30. Mybet players have received correspondence explaining that their account balances will be shifted to an online casino/sportsbetting wallet. They have until July 15 to transfer player points into cash.

The reason for the sale is as sensible as it is logical. It doesn’t earn enough revenue to justify the cost of operations. Mybet CEO, Zeno Osskó, told the press that in 2015, the online poker room was responsible for €1m of the €63m annual total revenue earned by the company, an amount he called a ‘minor share’ that ‘delivered virtually no contribution’ to the bottom line.

German gambling operator mybet Holdings SE will close their online poker room on June 30. The iPoker skin has not made the cut as mybet prepares to launch a new platform.

Another online poker room bites the dust as the German gaming outfit mybet Holding SE issued a press release stating their online poker room would be closing for business.

The iPoker skin plans to shut the cyber doors on June 30. Mybet players have received correspondence explaining that their account balances will be shifted to an online casino/sportsbetting wallet. They have until July 15 to transfer player points into cash.

The reason for the sale is as sensible as it is logical. It doesn’t earn enough revenue to justify the cost of operations. Mybet CEO, Zeno Osskó, told the press that in 2015, the online poker room was responsible for €1m of the €63m annual total revenue earned by the company, an amount he called a ‘minor share’ that ‘delivered virtually no contribution’ to the bottom line.

Former European Poker Tour Grand Final champion, Glen Chorny, is suing former poker player and businessman, Philippe Rouas, after investing a million dollars in a social media experiment that never took off.

It was Marcus Fabius Quintilius who said there is ‘nothing more dangerous to men than a sudden change of fortune’ and that seems to be the case for the former poker player Glen Chorny.

In 2008, Chorny won one of the largest prize pools in the history of the European Poker Tour (EPT) when he defeated 842 players to capture the €2m first prize in the Grand Final in Monte Carlo.

Poker player and businessman Philippe Rouas noticed Chorny’s success. Rouas was in the process of creating Poker World Society, a sort of Facebook for poker players, and it seems he convinced Chorny to part with a seven-figure sum in return for a 10% stake in the business.

Former European Poker Tour Grand Final champion, Glen Chorny, is suing former poker player and businessman, Philippe Rouas, after investing a million dollars in a social media experiment that never took off.

It was Marcus Fabius Quintilius who said there is ‘nothing more dangerous to men than a sudden change of fortune’ and that seems to be the case for the former poker player Glen Chorny.

In 2008, Chorny won one of the largest prize pools in the history of the European Poker Tour (EPT) when he defeated 842 players to capture the €2m first prize in the Grand Final in Monte Carlo.

Poker player and businessman Philippe Rouas noticed Chorny’s success. Rouas was in the process of creating Poker World Society, a sort of Facebook for poker players, and it seems he convinced Chorny to part with a seven-figure sum in return for a 10% stake in the business.

Australian casino operator Crown Resorts has won final approval for its controversial Crown Sydney VIP-focused casino.

On Tuesday, the New South Wales Planning Assessment Commission (PAC) gave its approval of Crown’s plan for a A$2b casino in Sydney’s Barangaroo district on land that had been reserved for a public park.

The PAC made its approval conditional upon Crown maintaining a slightly larger green space area than originally planned, as well as setting the casino back 30 meters to ensure the public has access to the waterfront. The PAC also insisted on Crown providing an extra 25 affordable apartments within a five-kilometer radius of the project.

The PAC stressed that it would have suggested many more public-friendly tweaks had it had the power to command them. But the PAC noted that its hands had been effectively tied once the NSW Parliament approved the casino project back in 2013.

Australian casino operator Crown Resorts has won final approval for its controversial Crown Sydney VIP-focused casino.

On Tuesday, the New South Wales Planning Assessment Commission (PAC) gave its approval of Crown’s plan for a A$2b casino in Sydney’s Barangaroo district on land that had been reserved for a public park.

The PAC made its approval conditional upon Crown maintaining a slightly larger green space area than originally planned, as well as setting the casino back 30 meters to ensure the public has access to the waterfront. The PAC also insisted on Crown providing an extra 25 affordable apartments within a five-kilometer radius of the project.

The PAC stressed that it would have suggested many more public-friendly tweaks had it had the power to command them. But the PAC noted that its hands had been effectively tied once the NSW Parliament approved the casino project back in 2013.

World Series of Poker organisers believe the 47th Annual Festival is on course to become the largest participated in the games history after crunching the numbers at the midway point; the UK win their third bracelet courtesy of Phillip McAllister, and much more.

Players at the 47th Annual World Series of Poker have blown through 35 of the 69 planned events like a hurricane in Kansas. It’s the midway point making it a good time to check on progress.

Last year was a record breaker for the WSOP. Never before had the foot traffic been so high. Organisers are quietly confident that record will fall in the next 3-4 weeks.

The first 35 events appealed to 59,507 entrants, down slightly on the 59,771 that were the glue for the 46th Annual jaunt into the desert. And by my count that makes the average attendance 1,700 entrants. That number increases to 124,844 participants when you include Daily Deepstacks and satellites, and that’s a 6.7% improvement on the 116,977 who entered this time last year.

World Series of Poker organisers believe the 47th Annual Festival is on course to become the largest participated in the games history after crunching the numbers at the midway point; the UK win their third bracelet courtesy of Phillip McAllister, and much more.

Players at the 47th Annual World Series of Poker have blown through 35 of the 69 planned events like a hurricane in Kansas. It’s the midway point making it a good time to check on progress.

Last year was a record breaker for the WSOP. Never before had the foot traffic been so high. Organisers are quietly confident that record will fall in the next 3-4 weeks.

The first 35 events appealed to 59,507 entrants, down slightly on the 59,771 that were the glue for the 46th Annual jaunt into the desert. And by my count that makes the average attendance 1,700 entrants. That number increases to 124,844 participants when you include Daily Deepstacks and satellites, and that’s a 6.7% improvement on the 116,977 who entered this time last year.

Casino operator Wynn Resorts will open its new Wynn Palace property in Macau on August 22.

The $4b Wynn Palace, the company’s second property in Macau, was originally slated to open in March but construction setbacks pushed this date to June 25, and now until August. The delays prompted Wynn to impose hefty penalties on the project’s main contractor, who also missed out on an eight-figure bonus.

The opening date was announced via a brief statement posted to Wynn’s website, which didn’t indicate how many new gaming tables the property might be allocated by Macau officials. The most likely guess is 250, similar to what Macau’s two most recent integrated resorts – Galaxy Macau Phase Two and Melco Crown’s Studio City – were allocated when they launched last year.

Wynn Palace will be followed by the scheduled launch of Las Vegas Sands’ Parisian Macao in the third week of September. MGM Resorts originally planned to open its MGM Cotai property this year but has since delayed the opening until Q1 2017.

Casino operator Wynn Resorts will open its new Wynn Palace property in Macau on August 22.

The $4b Wynn Palace, the company’s second property in Macau, was originally slated to open in March but construction setbacks pushed this date to June 25, and now until August. The delays prompted Wynn to impose hefty penalties on the project’s main contractor, who also missed out on an eight-figure bonus.

The opening date was announced via a brief statement posted to Wynn’s website, which didn’t indicate how many new gaming tables the property might be allocated by Macau officials. The most likely guess is 250, similar to what Macau’s two most recent integrated resorts – Galaxy Macau Phase Two and Melco Crown’s Studio City – were allocated when they launched last year.

Wynn Palace will be followed by the scheduled launch of Las Vegas Sands’ Parisian Macao in the third week of September. MGM Resorts originally planned to open its MGM Cotai property this year but has since delayed the opening until Q1 2017.