The idea of expanded legalized gambling in Brazil has been floating around for decades, with the topic taking a more serious tone in the past couple of years. Several lawmakers have been supportive of the idea, and even the country’s president, Jair Bolsonaro, has not been completely against allowing casinos to start appearing – though he would prefer to allow individual states to make the decision. Sports gambling has already gained enough support in the country, but legislative approval of casinos has proven to be more difficult. A new bill just drafted by a federal lawmaker hopes to succeed where others have failed.

Alberto Neto, a Brazilian federal deputy serving the state of Amazonas, has submitted PL 585/2020, a bill that would allow casinos in his jurisdiction. Local media outlet Amazonas Atual reported on the bill, explaining that it would pave the way to better tourism in the area, as well as serve as a testbed for casino operations elsewhere in the country.

PL 585/2020 is also meant to overcome economic handicaps in Amazonas, shortcomings that keep the region underdeveloped. Neto believes that, with the dissolution of the Manaus Free Trade Zone (ZFM, for its Portuguese acronym), the economic impact to the region will be substantial, and that casinos can help prevent massive financial losses. He explains, “With the risk that the Manaus Free Trade Zone is nearing its end, compensatory measures are needed, more than ever, necessary. If the current government decides to remodel the ZFM, we must think about compensatory measures for our state.”

The bill would establish the Federal Revenue Services as the government entity responsible for overseeing casino licensing and controlling the industry. It doesn’t discuss the revenue or tax implications of legalized gambling, but covers what would happen if unauthorized casinos were found to be operating. Fines for violations would range from R$5,000 (US$972) to a maximum of R$1 million ($194,442).

Casino operator Summit Ascent Holdings saw its profits soar in 2019 despite a comparatively modest increase in revenue at its Tigre de Cristal casino in the Primorye gaming zone outside Vladivostok, Russia.

Figures released Monday show the Hong Kong-listed Summit Ascent reported its revenue hitting HK$532.8m (US$67.8m) in 2019, a 15% rise over 2018’s result. Adjusted earnings attributable to Oriental Regent Ltd, the 60%-owned subsidiary that operates Tigre de Cristal, rose 18% to HK$214.8m while profit soared to HK$82m from just HK$7.6m the previous year.

The profit surge came in part due to a rise in bank interest income and some positive foreign exchange figures, along with decreased employee costs and depreciation charges. The company also enjoyed a serious decrease in debts owed by VIP gamblers operating on credit markers.

The ability to collect on VIP gambling debts reflects Summit Ascent’s new relationship with junket operator Suncity Group, which took a nearly 28% stake in Summit Ascent last April (subsequently reduced to just under 25%). Tigre de Cristal reported an almost immediate surge in VIP gambling activity after effectively doubling its number of VIP tables by the end of H1 2019.

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Banking apps that block gambling transactions are proving a hit with UK gamblers while an Australian bank has copped to knowingly boosting a problem gambler’s credit card spending limit.

The UK’s Daily Mail recently reported that over half a million Brits had taken advantage of new options to block payments to gambling sites from their bank accounts. Mobile banking outfit Monzo, which pioneered the self-exclusion scheme two years ago, reportedly has 220k customers who’ve made use of the option.

Starling Bank said 200k customers – roughly one-sixth of its total number of clients – had opted for its gambling payment blocking tool, while Lloyds had 120k users of its scheme and HSBC added another 30k to the total.

The UK Gambling Commission (UKGC) plans to ban the use of credit cards for gambling purposes as of this April, part of the regulator’s new strategy for (a) reducing gambling-related harm, and (b) showing parliament that it’s not ‘unfit for purpose,’ as some MPs have suggested due to the UKGC’s alleged coziness with its licensees.

Philippine casino operator Bloomberry Resorts is off the hook – for the moment, at least – for millions of dollars stolen from the central bank of Bangladesh and funnelled through the local gaming industry.

On Monday, Bloomberry filed papers with the Philippine Stock Exchange detailing a New York court’s dismissal of racketeering claims filed against the company by the Bangladesh Bank. The civil suit stemmed from the 2016 theft of $81m from accounts belonging to the bank held with the Federal Reserve Bank of New York.

The heist, which US officials believe was carried out by agents acting on behalf of the North Korean regime, saw $81m taken from the Bangladesh account and transferred to several individuals in the Philippines. These individuals, some of whom had connections to local junket operators, appear to have laundered the money through casinos in Manila, including Bloomberrry’s Solaire Resort & Casino.

Bloomberry’s Monday filing said the US District Court for the Southern District of New York had granted a joint motion by Bloomberry, the Rizal Commercial Banking Corporation (RCBC) and several other local companies and individuals to dismiss the Bangladesh bank’s claims of Racketeer Influenced and Corrupt Organisations Act (RICO) violations by the defendants.