Australian sports betting and lottery operator Tabcorp Holdings was fleeced for over A$600k by a former staffer who used inside information to cash in unclaimed winning betting slips.

On Thursday, Aussie media outlet 9News reported that a former Tabcorp information technology staffer and his wife were handed stiff jail sentences for using insider information to cash winning TAB wagers that had gone unclaimed for longer than three months.

According to the report, Trevor Raine used his position as an IT staffer to search Tabcorp’s databases for unclaimed winning tickets, then printed up bogus tickets with the same serial numbers, bar codes and betting information. Raine’s wife Talanoa would then take the tickets to TAB agencies in Sydney and Melbourne and claim their ill-gotten winnings.

The felonious pair were careful not to claim any individual winners over A$10k, the threshold for reporting winnings to federal tax authorities. But after an initial test in which they cashed nine winners for a combined A$4k, they ramped up their illegal activity, including a single day in which they cashed 260 tickets worth a combined A$63k.

Japan’s gamblers could face strict limits on their ability to access casinos under a new proposal submitted by the government this week.

On Thursday, the Japan Times reported that the ruling Liberal Democratic Party (LDP) and its junior coalition partner Komeito were advancing a plan that would limit local residents to three casino visits per week, and no more than 10 visits every 28 days.

The rules would apply to Japanese nationals and foreigners living in Japan, while international tourists would be exempt. The authorities would monitor casino visitation by requiring local residents to present their government-issued My Number identity cards to gain access to the casino floor.

The government also wants to cap the maximum area of any integrated resort’s gaming floor at 15k-square-meters or a maximum 3% of the resort’s total footprint. This restriction mimics the maximum area allotted to Singapore’s two integrated resorts, which Japan’s legislators have long cited as a model for their own plans.

Macau Government Tourism Office (GTO) is expecting a tide of mainland Chinese tourists to visit Asia’s premier gambling hub during the Chinese New Year revelry.

GGRAsia reported that MGTO chief Maria Helena de Senna Fernandes is expecting a 1 to 3 percent growth in the number of tourists visiting Macau during the Chinese New Year compared to the 935,266 visitor arrivals it posted in the same period last year.

The bulk of the tourists will come from mainland China, Hong Kong, and “maybe Taiwan,” according to Fernandes.

Citing a recent survey conducted by international brokerage Deutsche Bank, Macau Daily Times reported that 14 of 20 Macau hotels reported that they are already fully booked for the Chinese holiday that will run from February 15 to February 21.

The bankruptcy of Caesars Entertainment Corp. (CEC) has propelled the family of billionaire George Soros to one of the company’s top stakeholders.

Bloomberg reported that Soros Fund Management is now among the 10 biggest shareholders of Caesars as it gobbled 34.5 million shares valued at $436 million as of December 31, 2017, citing regulatory filings on Wednesday.

The reorganization of Caesars, which paved the way for the creation of one unit handling gaming operations and the other a real estate investment trust (REIT), puts Soros’ stake at 4.89 percent, which is just below the 5 percent threshold above which investors must file beneficial ownership paperwork with the Securities and Exchange Commission (SEC).

Soros’ also has a 7 percent stake in Vici Properties Inc., the REIT of the restructured company that owns several Caesars-operated hotels.

Tighter pachinko regulation in Japan and growing costs in Okada Manila have weighed heavily in Japanese gambling operator Universal Entertainment Corp. in the fiscal year 2017.

In a disclosure to the Tokyo Stock Exchange on Wednesday, Universal announced that it incurred a JPY13.4 billion ($125.8 million) net loss for the nine months ending on December 31, 2017 while its net revenue was at ¥68.55 billion ($643 million).

Universal explained that the net loss was a result of tighter gambling regulations in Japan, particularly on pachinko parlors, as well as the ballooning costs of Okada Manila’s construction delays and the on-going litigation against Wynn Resorts.

The company reported that its Pachislot and Pachinko business posted net sales of JPY50.35 billion ($472.74 million) for the April-December 2017 period, while operating profit is at JPY9.34 billion ($87.73 million).

Its back to the grindstone after an annual week of conferencing and networking debauchery in London, five days of ICE Totally Gaming and LAC, what we at CalvinAyre.com refer to as “London Conference Week”.  Even though the CalvinAyre.com crew was certainly at the eye of the storm, its impossible to catch everything happening across the massive expo floors, so here are five points I personally took away from the madness.

CoinPoint Bitcoin Cash Party a huge success

In the words of our Founder, Calvin Ayre, “The convergence of online gaming and Bitcoin is actually in London, it’s the global leader in both those spaces right now”.  This statement was fully supported by the turnout for CoinPoint’s exclusive Bitcoin Cash Party, smack in the middle of London Conference Week.

The purpose of the event was to raise awareness of Bitcoin Cash and how the currency and the technology behind it will benefit and disrupt the iGaming space as we know it…and to have a little fun as well.  Hosts Oron Barber and Eilon Arad of CoinPoint entertained executives from the iGaming industry and welcomed celebrity appearances by nChain’s Chief Scientist Dr. Craig Wright and snooker legend Ronnie O’Sullivan, a casual, networking environment that was truly enjoyed by all.

Milwaukee’s freezing temperatures didn’t keep players away from a WSOP Circuit tournament at the Potawatomi Hotel & Casino this past weekend. The tournament’s main event drew 604 entries, resulting in a prize pool of $906,000 that shattered initial guarantee of $750,000. By the time it was over, Keven Stammen had outlasted them all, earning him $190,265 and his first WSOP gold ring.

Stammen found himself in a matchup against several of poker’s toughest players. Ten-time WSOP gold ring winner Maurice Hawkins and three-time gold ring winner Andy Philachack made it to the final table with the Ohio native before Philachack was sent to the rails in fifth place by Michael Crawford. Crawford kept the fight going by then proceeding to eliminate Hawkins in fourth place.

Crawford held a comfortable chip lead with just three remaining at the felt, but this changed quickly when Stammen took out John Reading. As the heads-up action began to unfold, Stammen picked up a nut flush versus Crawford’s top pair to put his opponent on the ropes. He then dealt the final blow a few hands later to eliminate Crawford, who earned $117,680 for his second-place finish.

Stammen has already had several key wins in his career. The 32-year-old picked up a gold bracelet and just over $506,000 at the 2009 WSOP $2,500 NLHE tournament and also grabbed a title win at the 2014 WPT World Championship where he added $1.35 million to his bank. In total, he now has earned over $5.4 million in live tournament play. His first tournament win came in 2006 when he took down a $1,000 NLHE tournament at the Fifth Annual Five Diamond Classic in Las Vegas, pocketing $21,895.

Poker players have become a well-known source of funds for charitable causes. Raising for Effective Giving, which was partly co-founded by Liv Boeree, Phil Gruissem and Stefan Huber, has raised over $6 million. About two weeks ago, $1.7 million was raised when the WPT teamed up with Latitude.

One of the most resilient charitable organizations is the Charity Series of Poker (CSOP), which creates poker tournaments specifically to raise funds for worthy causes. The CSOP is at it again, organizing an event that will see high-profile players and the Vegas Golden Knights Foundation join up to raise money for the Folded Flag Foundation, founded by Vegas Golden Knights owner Bill Foley to support military service members and their families.

The event will be held on February 25 at the Andaz Hotel West Hollywood in Los Angeles and is called “Above the Fold – A Sky-High Salute to Service and Sacrifice.” Poker Hall of Famer Daniel Negreanu is hosting and emceeing the tournament. It will be a $400 buy-in tournament, with rebuys and add-ons available for $200. A reception and casino night with hors-d’oeuvres, an open bar and a silent auction will follow the tournament. Tickets for the reception can be purchased for $195.

In addition to Negreanu, several other well-known players will be at the event. Todd Brunson, Lacey Jones and Adam Levy will be on hand, as will Matt Stout, founder and president of the CSOP. Players will have a chance to win a spot in the 2018 WSOP, and the top six will all finish in the money. The player with the most chips at the end of the rebuy period will be awarded a prize, along with the player who makes the most rebuys. There’s an added bonus for the first-place winner. He or she will earn a game of heads-up play against Kid Poker.