Monthly Archives: July 2016

Greek authorities break up illegal online betting ring run by Taiwanese nationals

Authorities in Greece have broken up what they’re calling a major illegal gambling ring that catered to a predominantly Asian ex-pat clientele.

On Friday, Alternate Minister of Public Order and Citizen Protection Nikos Toskas held a press conference to trumpet the takedown of an illegal electronic gambling ring operating out of five rented luxury houses in affluent suburbs of Athens.

Toskas said the authorities had been investigating the gambling ring for around six weeks and began raiding the various homes on Thursday. The raids resulted in the arrest of three Greek citizens and 125 foreign nationals, whom Toskas said hailed primarily from Taiwan.

Police said the gambling ring was led by a group of 18 individuals, most of whom were also Taiwanese, but included a Greek real estate agent. Toskas said the operation was technically sophisticated, using closed circuit television systems to monitor the perimeter of the properties.

Poster Confesses to Forum As Poker Bot Operator, Then Recants

A self-confessed poker bot operator, known as a “botter,” made a surprise appearance on the 2+2 forums last weekend to announce his retirement from “botting.” The poster, known as “themadbotter,” proceeded to offer detailed answers to forum members’ questions, while studiously ignoring abuse from others, to offer a fascinating and candid glimpse into the mindset […]

The post Poster Confesses to Forum As Poker Bot Operator, Then Recants appeared first on .

Online gambling the fastest growing segment of BCLC’s fiscal year

The online gambling division of the British Columbia Lottery Corporation (BCLC) was the Crown corporation’s fastest growing segment in its most recent fiscal year.

BCLC enjoyed record profit of C$1.31b (US $994m) in the 12 months ending March 31, 2016, 4.7% more than it earned in fiscal 2014-15. Total revenue also set a new record at $3.1b, $197.5m more than the previous year.

BCLC said this achievement was all the more notable given it was the only one of Canada’s provincial gaming monopolies not to suffer a year-on-year revenue decline “in this demand driven environment.”

New win per capita was $501, up from $482 in 2014-15 and better than BCLC’s target of $477. BCLC says it benefited from a record number of large lottery jackpots and increased slots play as the falling Canadian dollar discouraged many gamblers from crossing over the border to play in US casinos.

Mass. environmental chief backs changes for Wynn Boston Harbor’s permit

All signs point to yes for Wynn Boston Harbor’s environmental permit.

State Energy and Environmental Affairs Secretary Matthew Beaton signed on Friday that it’s only a matter of time before Wynn Resorts receives the final approval for the $2 billion casino project in Everett.

Last week, a state environmental officer came out with a 50-page decision backing Wynn’s plans for the casino resort, albeit with some revisions that include adding ferry services, a fishing pier, and a kayak and canoe lunch near the complex. Now, Beaton said the recommendation “bodes well” for the casino operator, which had been forced to shelve the construction after Somerville Mayor Joseph A. Curtatone questioned the environmental permit it received in January.

In an interview with the Boston Herald, Beaton said, “I think it’s a set of very sensible recommendations that upholds (the scope of) the general license… I think there was a thorough look into this.”

Mass. environmental chief backs changes for Wynn Boston Harbor’s permit

All signs point to yes for Wynn Boston Harbor’s environmental permit.

State Energy and Environmental Affairs Secretary Matthew Beaton signed on Friday that it’s only a matter of time before Wynn Resorts receives the final approval for the $2 billion casino project in Everett.

Last week, a state environmental officer came out with a 50-page decision backing Wynn’s plans for the casino resort, albeit with some revisions that include adding ferry services, a fishing pier, and a kayak and canoe lunch near the complex. Now, Beaton said the recommendation “bodes well” for the casino operator, which had been forced to shelve the construction after Somerville Mayor Joseph A. Curtatone questioned the environmental permit it received in January.

In an interview with the Boston Herald, Beaton said, “I think it’s a set of very sensible recommendations that upholds (the scope of) the general license… I think there was a thorough look into this.”

US election commission clears Sheldon Adelson of foreign-money claims

There’s “no reason to believe” that Sheldon Adelson funneled illegal foreign contributions into the U.S. election campaigns.

That was the decision that the Federal Election Commission came out with in response to allegations that the Las Vegas Sands Corp. chairman had used funds from foreign sources via his casinos in Macau to make contributions to federal elections.

Documents posted on FEC’s website showed that commissioners voted 5-0 in June following recommendations from the FEC’s general counsel office.

The complaint against Adelson was filed by the nonprofit watchdog group Campaign for Accountability (CfA) in 2015, following the indictment of Chinese billionaire Ng Lap Seng who was caught smuggling $4.5 million into the United States. The watchdog alleged that Adelson’s contributions were largely made up of “illegally laundered foreign funds” derived from Chinese crime groups.

Macau surplus shrinks in H1 2016 as casino income falters

Macau’s gambling-driven economy saw its fiscal surplus shrink by 32.1 percent in the first half of 2016, data from the Financial Services Bureau showed.

From MOP25.42 billion ($3.18 billion) of the same period, Macau’s surplus falls to MOP17.26 billion (US$2.16 billion) from January to June 2016 as public revenue continues to dwindle. The FSB cited Macau’s falling gaming revenue as the culprit behind the fall of its surplus.

On a positive note, the plunge of Macau’s fiscal surplus in the first half of 2016 is much slower compared to the 57.9 percent nosedive it made during the same period last year. Although the government’s surplus is down more than 30 percent year-on-year, it is nearly five times above the MOP3.47-billion (US$ 434.4 million) forecast for the full year.

Meanwhile, Macau government posted a MOP47.85 billion (US$5.99 billion) income at the end of June, 13.5 percent lower than in the prior-year period. Like in its surplus, the government saw a slower drop to its income this year compared to the 33.7 percent freefall of its revenues for the first six months of 2015.

Caesars in talks to sell interactive games unit to Chinese group

It appears that Caesars Entertainment is close to sealing the deal for its interactive unit.

U.S. gaming holding company Caesars Acquisition Co (CAC) is reportedly in “exclusive talks” with a Chinese consortium over the possible sale of Caesars Interactive Entertainment’s (CIE) online games business.

People familiar with the matter told Reuters the struggling casino operator granted the consortium, which includes online games developer Giant Interactive Group, “a short exclusivity period earlier this week, following an auction that also included U.S. toymaker Hasbro Inc and South Korean mobile game company Netmarble Games.”

In May, reports surfaced that Caesars Entertainment has been mulling to sell the interactive games unit, even though it’s one of the few branches of the Caesars family tree that actually makes money. In 2015, CIE’s casino-themed online games division reported a 23 percent rise—to reach $766 million—in annual revenues.