Online gambling operator Kindred Group saw revenue rise nearly one-third in the second quarter of 2018 as customer activity hit an all-time high.

Wednesday saw the Stockholm-listed Kindred release its unaudited interim report for the second quarter and first half of 2018, which showed gross winning revenue of £219m in the three months ending June 30, up 31% from the same period last year. Earnings improved by one-quarter to £41.7m while after-tax profits rose one-fifth to £25.5m.

The company credited excitement over the first half of the 2018 FIFA World Cup for generating “a significant all-time high in customer activity,” with active customer ranks hitting 1.55m during Q2. This, coupled with “unexpected results” at the World Cup, pushed sports betting margins (after free bets) to 8.2%.

Kindred says the good times have continued into Q3, with average daily gross winnings revenue through July 22 rising 29% year-on-year. Despite the positive news, the company’s stock price dipped nearly 13% following the report.

Asian casino operator Melco Resorts & Entertainment Ltd. reported a 5 percent decline in its net revenue after adopting a new accounting method for revenue recognition.

Despite seeing an improvement in adjusted property earnings before interest, taxation, depreciation, and amortization (EBITDA), Melco Resorts announced that its net revenue dropped to $1.23 billion in the second quarter of 2018 from $1.3 billion for the comparable period in 2017.

It would be recalled that Melco adopted the new revenue standard using the modified retrospective method from Jan. 1, 2018. Using the previous accounting method, Melco Resort’s net revenue would have been $1.34 billion, representing an increase of about 3 percent from a year earlier.

“The decrease in net revenue was primarily attributable to higher commissions reported as a reduction in revenue upon the Company’s adoption of a new revenue recognition standard issued by the Financial Accounting Standards Board,” Melco said in a statement.

Lottery business in mainland China remained robust in the first half of 2018, with sales climbing 19.6 percent during the first six months of the year.

China’s Ministry of Finance announced that mainland lottery sales grew to CNY245.2 billion ($36.0 billion) in January to June 2018 period from the CNY205 billion ($30.28 billion) sales it registered in the same period last year.

The biggest sales came from sports lottery, which jumped 36.1 percent to more than CNY134.6 billion ($19.88 billion) in the first six months of 2018 compared with CNY98.9billion ($14.61 billion) in the H1 2017.

Sales of welfare lottery tickets stood at CNY110.6 billion ($16.34 billion) in H1 2018, up 4.2 percent from CNY106.1 billion ($15.67 billion) in the same period last year.

Casino operator Crown Resorts Ltd. is fighting tooth and nail to block the AUD362 million (US$270 million) tax bill that the Australian government wants to levy.

Reuters reported that Crown Resorts is disputing the multi-million tax bill that the Australian Taxation Office (ATO) issued before the court, saying the amount is 5 percent more than its normalized 2017 net profit.

The court has scheduled the hearing of Crown Resorts’ tax contentions on August 31.

Record showed that Crown Resorts’ tax woes stemmed from its acquisition of Vegas casino operator Cannery Casino Resorts for US$1.75 billion and other North American investments in 2007. The Cannery portfolio includes four casinos in Nevada and western Pennsylvania.

Casino operator Crown Resorts Ltd. is fighting tooth and nail to block the AUD362 million (US$270 million) tax bill that the Australian government wants to levy.

Reuters reported that Crown Resorts is disputing the multi-million tax bill that the Australian Taxation Office (ATO) issued before the court, saying the amount is 5 percent more than its normalized 2017 net profit.

The court has scheduled the hearing of Crown Resorts’ tax contentions on August 31.

Record showed that Crown Resorts’ tax woes stemmed from its acquisition of Vegas casino operator Cannery Casino Resorts for US$1.75 billion and other North American investments in 2007. The Cannery portfolio includes four casinos in Nevada and western Pennsylvania.

Casino operator Crown Resorts Ltd. is fighting tooth and nail to block the AUD362 million (US$270 million) tax bill that the Australian government wants to levy.

Reuters reported that Crown Resorts is disputing the multi-million tax bill that the Australian Taxation Office (ATO) issued before the court, saying the amount is 5 percent more than its normalized 2017 net profit.

The court has scheduled the hearing of Crown Resorts’ tax contentions on August 31.

Record showed that Crown Resorts’ tax woes stemmed from its acquisition of Vegas casino operator Cannery Casino Resorts for US$1.75 billion and other North American investments in 2007. The Cannery portfolio includes four casinos in Nevada and western Pennsylvania.

The Genting Group recently missed out on an opportunity to expand into Spain when its Genting UK subsidiary lost a bid for a new casino planned for Andorra. However, it may not have necessarily been a bad thing. According to at least one brokerage, the company could be a favorite to be awarded a gambling license in Japan.

Maybank Kim Eng Securities said last Sunday that Genting, through its Genting Singapore subsidiary, “stands a good chance to win a licence thanks to its responsible gaming experience and solid net cash position.” It added that lawmakers in Japan repeatedly refer to measures taken by casinos in Singapore to ensure social responsibility. As one of the most successful operators in the country, Genting Singapore has a distinct advantage for a Japanese license.

Samuel Yin Shao Yang, the Maybank analyst who provided the report, pointed out that Genting Singapore, which operates Resorts World Sentosa, has cash reserves of more than US$2.2 billion. This would go a long way for any casino development in Japan, giving it a great amount of strength in the bidding process.

After an intense battle over gambling in Japan that forced the legislative session to be extended, the country finally approved the Integrated Resort Implementation Bill last Friday. The bill authorizes three large-scale gaming operations to be built initially, with the possibility of more added following a review after the first seven years of operations.

Another round-up of the action from Day 1B of the HKD 100,000 buy-in Short-Deck Ante-Only warm-up event, with 12 players joining the four from Day 1A, and Wai Kin Yong leading the way. 

I grab my things and sneak out of the room like Santa Claus after eating his 1.2 billionth mince pie. I forget about the automatic light trap by the bathroom. I freeze like a Parisian mime artist, bathed in artificial light.

Nothing.

Cool.

Lee Davy sits down with PokerStars Team Pro, Celina Lin, to ask her four random questions about life, and see if we can align them with poker. 

It’s a simple premise.

No intro necessary.

I’ll ask PokerStars Team Pro, Celina Lin, four random questions, and she’ll answer them, and we will try to link them to poker.

Toward the end of last month, Melco International Development Ltd. opened its doors to a new temporary casino on the Mediterranean island of Cyprus. The new operation set the company back $15 million and was announced as the first of five casinos Melco intended to open while it continued to work on its City of Dreams Mediterranean Resort (CDM). While CDM continues to move forward, Melco is staying true to its word and is gearing up to open its second satellite casino.

Melco’s second satellite operation will be located in the terminal of the Larnaka International Airport. It is the product of a consortium, the Integrated Casino Resorts Cyprus Ltd. (ICR Cyprus), which is being led by Melco. The consortium signed a two-year lease with the airport’s operator, Hermes Airports Ltd., for the casino which will ultimately have “two specific locations in the terminal building of Larnaka airport in order to create a ‘satellite casino’ in the city of Larnaka.”

In a press release circulated by the airport and Melco, the two said, “The first location to be allocated is situated in the departures area, accessible only to departing passengers, whilst the second one is situated in the arrivals area, accessible to the general public. The first location is expected to be ready and operational in the next three months whilst the second one is expected to be ready by the end of the year.” The first casino is expected to offer around 50 gaming machines.

Melco controls 75% of ICR Cyprus. The remainder is held by a conglomerate based on the island called Cyprus Phasouri (Zakaki) Ltd. ICR Cyprus was issued a 30-year casino license by the island’s government in June of last year that also provides for the building of three other satellites in Nicosia, Paphos and Famagusta.

Casino operator Great Canadian Gaming Corp has been hit with allegations of undisclosed Asian investment in an old casino cruise ship that could result in a new investigation by British Columbia gaming regulators.

On Tuesday, the Global News agency published a lengthy article detailing Great Canadian’s former involvement in China Sea Discovery (pictured), a Hong Kong-based floating casino operation that appears to have been partially owned by Cheng Yu Tung, the late head of the Chow Tai Fook Enterprises (CTFE) conglomerate.

Already reeling from the lengthy probe into rampant money laundering by Asian crime groups at BC casinos – in particular the Great Canadian-run River Rock Casino in Richmond – the allegations of undisclosed partnerships with questionable individuals could prompt a fresh investigation by the province’s Gaming Policy Enforcement Branch.

The office of BC Attorney General David Eby told Global that Cheng Yu Tung wasn’t registered to partner with Great Canadian, despite regulations requiring BC-licensed gaming operators to list all significant investors – even in operations based outside of BC – so that they can be vetted for suitability.