Monthly Archives: July 2016

Hong Kong’s Euro 2016 betting busts quadruple the total of Euro 2012

The Euro 2016 football tournament may be drawing to a close, but Asian authorities aren’t letting up in their quest to stamp out illegal online betting.

Just hours before Portugal ended Wales’ fairytale run at the UEFA title, Hong Kong authorities raided a number of locations across the city, breaking up five different bookmaking operations, arresting 19 individuals and confiscating more than HKD 400m (US $51.5m) in illegal wagers.

The single largest seizure resulted in HKD 250m confiscated from a 33-year-old man working out of a public housing flat. The operation had reportedly been accepting illegal wagers for several months and a source told the South China Morning Post that the numbers had “soared by several fold” ahead of the Euro 2016 semi-final matches.

A separate raid turned up betting records worth HKD 100m and HKD 410k in cash. Authorities suspected this operation, which had been taking wagers for the past six months, had links to the infamous 14K triad.

Pennsylvania slots revenue rises second straight year; Rivers sues over slots tax

Pennsylvania casinos’ annual slots revenue rose for the second year in a row although the total fell short of the state’s all-time record.

According to figures released Thursday by the Pennsylvania Gaming Control Board, the state’s 12 licensed slots operators generated revenue of $2.39b in the 12 months ending June 30. The gains came despite June’s monthly haul falling 1% to $190m.

The annual figure is 2.3% higher than the statewide total in fiscal 2014-15 but still less than the $2.5b peak recorded in 2011-12. Given the onerous 54% tax applied to slot revenue, the state’s share of this year’s revenue came to $1.3b. The Board will issue casino table game numbers later this month.

Nine casinos posted year-on-year slots gains, led by Parx Casino with $388m, while Sands Bethlehem had its best year ever at $305m. Rivers Casino ranked third with $272m, although this was down 2.1% from the previous year.

Pennsylvania slots revenue rises second straight year; Rivers sues over slots tax

Pennsylvania casinos’ annual slots revenue rose for the second year in a row although the total fell short of the state’s all-time record.

According to figures released Thursday by the Pennsylvania Gaming Control Board, the state’s 12 licensed slots operators generated revenue of $2.39b in the 12 months ending June 30. The gains came despite June’s monthly haul falling 1% to $190m.

The annual figure is 2.3% higher than the statewide total in fiscal 2014-15 but still less than the $2.5b peak recorded in 2011-12. Given the onerous 54% tax applied to slot revenue, the state’s share of this year’s revenue came to $1.3b. The Board will issue casino table game numbers later this month.

Nine casinos posted year-on-year slots gains, led by Parx Casino with $388m, while Sands Bethlehem had its best year ever at $305m. Rivers Casino ranked third with $272m, although this was down 2.1% from the previous year.

Netherlands lower house finally approves online gambling bill

The Netherlands could launch its regulated online gambling market by Q3 2017 now that parliamentarians have approved the necessary legislation.

The lower house of the Dutch parliament approved the country’s Remote Gaming Bill by a wide majority on Thursday. The Senate is on its summer break, but is expected to pass the bill without too much fuss once they reconvene this autumn.

The legislation imposes a 29% tax on both online and land-based gambling revenue, plus a further 1.5% to fund the activities of the Kansspelautoriteit (KSA) regulatory body and another 0.5% to fund problem gambling programs.

The bill underwent a furious spate of amending earlier in the week, including a prohibition on the country’s land-based gambling operators from using their current player databases to market their online sites, a move that ensures they won’t have an unfair advantage over new entrants.

North Korea’s illegal online gambling earns regime close to a billion dollars

North Korea earns close to one billion dollars per year from illicit internet activity, primarily via illegal online gambling businesses.

Yoo Dong-ryol, head of the Korea Institute of Liberal Democracy and a former senior researcher at the Korean National Police University, made the claim at the South Korean military’s annual security conference in Seoul on Thursday.

Yoo said North Korea operates “tens of hubs in China and Southeast Asia” aimed at generating sorely needed foreign currency to prop up the isolated regime. Collectively, Yoo estimated these hubs earn around KRW 1t (US $864m) by “developing and selling illegal gambling programs, operating gambling sites using names of foreign nationals and stealing cyber money through hacking.”

Korea JoongAng Daily quoted Yoo saying illegal gambling software programs are sold for tens of millions of won, with further lucrative charges for upgrades. Yoo said the North hires local residents in other Asian countries to run the gambling sites, with the profits split “six to four or half-and-half.”

WSOP Day 36 Recap: Rast Wins $50K PPC for 2nd Time, $25K HR PLO Kicks Off

Oops, he did it again. On Wednesday, 34-year-old Brian Rast won the 11th edition of the prestigious $50,000 Poker Players’ Championship, Event #55, for $1,297,097. It was his second takedown of this tournament that boasts one of the toughest World Series of Poker fields each year. In 2011, Rast topped a field of 128 players, […]

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MGM Cotai forecast to achieve $214M EBITDA in 2017

Analysts are placing high hopes for MGM China’s Cotai venture, months before it opens its doors to public.

Brokerage Union Gaming Securities LLC forecasts the MGM Cotai casino resort to bring in US$214 million of adjusted property earnings before interest, taxation, depreciation and amortization (EBITDA) in 2017.

That estimate, according to Union Gaming analyst John DeCree, is based on three quarters of the casino’s operations.

There has been speculations that the casino resort’s opening will be pushed back to the second quarter of 2017, but Hong Kong-based MGM China Holdings Ltd. co-chairperson Pansy Ho Chiu King assured that the scheduled opening for the MGM Cotai project in the first quarter of 2017 remains on track.

Maharashtra casinos’ $1.09B profit possible, says GMA

India’s state of Maharashtra will be sitting on a US$1.09 billion gold mine by the year 2021 if it allows the establishment of land base casinos, an economic think-tank has predicted.

Economic research firm Global Market Advisors LLC (GMA) has expressed optimism that land base casino will thrive in this western Indian State, which covers the wealthy Mumbai metropolis, given the size of its population and due to its vibrant economy.

Citing a 2011 census, GMA noted that Maharashtra’s population was t 112.4 million or 9.3% of India’s total population. It is also considered as the largest urban agglomeration in India in 2011 with 18.4 million living within the urban agglomeration of Mumbai. On the other hand, approximately 45.2% of the state’s total population was urban.

The research further pointed out that the growing Indian middle class will fuel the state’s casino gambling, generating nearly US$10.2 billion annually by the year 2025. GMA estimated that 52 percent of Maharashtra’s population will be of gambling age in 2021.

Online betting platform – choosing it the right way.

The world of online gambling is truly exciting. There is money to be made for owners of online betting platform and the opportunities are everywhere. Opportunity creates desire. There are companies that can fulfill it and there are companies that are B.T.N.A – big talk not action kind of type.

We will try to cut all unimportant stuff, so what you are left with is red mead of online betting platform decision making.

From the first glance choosing a company which can develop a betting platform from scratch  is a trivial matter, but for someone, who is new to the world of developing IT products the amount of information out there is overwhelming. And there are many of  people who are in desperate search of simple to digest information on how to proceed with set up process of online betting site.

Today we would like to separate a signal from the noise and give a few clear instructions on how to make a good choice when it comes to dealing with the supplier/developer.

Youtube Esports Star Issues Non-apology Over Skin Betting Scandal

One of the YouTube eSports stars tagged in the eSports skin betting scandal hits back at its critics with a non-apology video on Wednesday.

Trevor “Tmartn” Martin uploaded a two-minute video apology titled “I’m Sorry” on his YouTube channel in an attempt to calm the controversy concerning him and fellow YouTube star Tom “ProSyndicate” Cassel and their equity in gambling website CS: GO Lotto.

Martin eventually took down the video after receiving a backlash from his angry fans. Luckily, quick-thinking fans were able to save copies of Martin’s video apology and re-upload it on the popular video sharing website.

Most of the content of the video centered on Martin’s defense that he and Cassel did not mislead viewers by promoting CS:GO Lotto that they in fact owned and that they encouraged others to spend money on it after showcasing themselves apparently winning thousands of dollars-worth of items in minutes.

CEEGC 2016 Speaker profile – Tal Itzhak Ron – Forex and Binary Options in the EU

The organizers are proud to announce that Adv. Tal Itzhak Ron will be among the speakers of the “Hot Topics of the Online Gambling Industry in Europe” panel at the CEEGC 2016 which will take place in Budapest on the 20th of September 2016.

A seminar type conference which is designed to encourage a Pan-European dialogue and create an in-depth report of the Central, Eastern and Northern European markets, with an additional Balkans gambling market overview allowing operators and suppliers to monetize the value of their reputations.

Tal will be the key speaker about “Forex and Binary Options in the EU” topic which is embeded in the “Hot Topics of the Online Gambling Industry in Europe” and will be moderated by Dr. Paul Davis(Managing Director @ Counting House (IOM) Ltd.)

Adv. and Notary Tal Itzhak Ron is a General Member of International Masters of Gaming Law (IMGL), practicing in Hi Tech, Mobile Applications law, Digital Media, i-Gaming and Financial Entertainment law. Tal graduated from Haifa University School of Law (LL.B.) and Faculty of Computer Science (B.Sc.), and while working as a software developer at a publicly traded software company, NESS Technologies group, has further obtained a Master’s Degree in Computer Science from Bar Ilan University (M.Sc). Tal established Tal Ron, Drihem & Co., Law Firm in 2003, focusing on Online Trading, Ad Tech, Hi Tech, M&A, Fin Tech and iGaming, quickly becoming one of the first international law firms practicing solely on these areas, advising top-tier international clients in these fields. Over the years, Tal gained extensive knowledge in Financial and Gaming regulation, International Taxation and Payment services. Today his team of highly seasoned attorneys and partnering professionals headquartered in Tel Aviv and operating from 8 offices around the world, offers an international one-stop shop for all legal, incorporation, banking, M&A and licensing needs.

Trump Presidency Will Shake Markets, Cause Surge In Bitcoin Price

First it was the devaluating Chinese yuan. Then came Brexit. Now, experts are bracing for another likely event to shake the world markets, including digital currency: the prospect of Donald Trump becoming a U.S. president.

Trump and Hillary Clinton have already secured their respective party’s nomination for the upcoming presidential race, and let’s be honest here, there’s no way that the clash between these two candidates will be anything less than brutal.

In fact, Clinton already came out with guns blazing, taking swipes at her political opponent’s many casino bankruptcies and warning that a vote for Trump will put the county in the same condition as the mogul’s failed casinos. The former U.S. secretary of state holds a big advantage demographic-wise over Trump, but the gap between the two—once in the double digits with Clinton in the lead—is closing as the Republicans start to rally behind their candidate.

But the possibility of having Trump as the new president has many analysts shaking in their boots.