Tag Archives: igaming

Paradise Co Ltd casinos under South Korean tax probe

South Korea’s largest private casino operator Paradise Co Ltd is under investigation by the country’s tax authority, although the reasons behind the probe remain unclear.

Last Friday, Korean media reported that the Seoul office of the National Tax Service (NTS) had launched a ‘high-intensity tax audit’ of Paradise, which operates four foreigner-only casinos, including the Paradise City integrated resort outside of Incheon. The NTS is reportedly building on a previous audit from 2017.

The media report of the Paradise probe came just two days after a possibly related NTS announcement of 38 suspected tax-dodging entities. Paradise confirmed the existence of the probe to GGRAsia but claimed not to know “the exact purpose” of the investigation.

Like most Korean casino operators – except Kangwon Land, the only venue that permits local residents to gamble – Paradise has suffered as a result of COVID-19’s sharp reduction in international tourist arrivals.

EPT Online High Roller won by David Laka for $143,567

David Laka has won $1.6 million at the live felt, but he now has one of the most prestigious online titles to his name – the first of the 2020 EPT Online Series titles, too! Winning $143,567 for taking down the online event, Laka rode out a frantic final day of action on PokerStars to triumph in fine style.  

With just 29 players kicking off the action, by the end of late registration just 15 players were assured of profit, as the money places included just that number. Three registrations were permitted, with Laszlo Bujtas busting all three of his without profit. Others to fall by the wayside before the money bubble burst included Fedor Holz, Anatoly Filatov, Timothy Adams, Christian Rudolph, Sergi Reixach, Joao Vieira and Steve O’Dwyer all unable to ride out the rollercoaster of EPT gameplay. It would be Guntis Aleskins who would bubble the event, busted by Pascal Lefrancois, who would take those chips and run all the way to second place by the end of the event.  

Plenty more would have to leave before the final table was reached and they included Austrian powerhouse Matthias Eibinger with Christoph Vogelsang, Parker Talbot and Andrey Zaichenko also missing out.  

American player Chris Oliver was the first to bust the final table, losing the majority of his chips to Lefrancois, before he was joined on the virtual rail by countryman Jon Van Fleet. Finishing in 5th place was Croatian player ‘zufo16’, who cashed for $51,736, around $15,000 less than Russia player Vyacheslav Buldygin, who came 4th.  

Hong Kong online gambling bust focused on ‘emerging financial tech’

Hong Kong authorities have disrupted an unauthorized online gambling operation that used ‘emerging financial technology’ to process US$64.5m worth of illegal wagers.

On Monday, the Cyber ​​Security and Technology Crime Investigation Division of the Hong Kong Police Force announced the arrest of 22 individuals suspected of involvement in an illegal online casino, football and horserace betting operation that has been active since May of this year.

Police estimated that the group handled wagers worth HK$500m in just the past few months through a variety of websites based in other countries. The arrested individuals, whose tasks included soliciting gamblers via online platforms, worked out of a number of high-end condos in Hong Kong.

The investigation, which was dubbed Operation Moonshield, said the organizers convinced an ever-increasing number of local residents to open online bank accounts, control of which would then be assumed by the organizers in order to move money between the gambling sites and their customers.

Park Lane Casino sued by VIP gambler over win-or-lose ‘cash back’ deal

London’s Park Lane Casino is being sued by a VIP gambling customer just as the company appeals the recent suspension of its gaming license.

On Monday, UK media reported on a court case filed by Croatian national Juste Puharic, who claims that the Park Lane Casino reneged on a promise to pay him a ‘commission’ to bet large amounts at the members-only venue during a multi-day gambling session.  

Puharic’s legal team told the High Court that their client had been targeted by Park Lane’s VIP managers with an offer to match any ‘cash back’ deals Puharic enjoyed at other Mayfair casinos. Suitably incentivized, Puharic proceeded to wager a little over £27m at Park Lane’s roulette tables over a five-day period in May 2015.

Trouble was, Puharic ultimately emerged from this roulette rodeo nearly £1.5m in the black, leading him to conclude that Park Lane owed him £243,518, equal to a 0.9% ‘win or lose’ commission on his wagering handle that he claimed to receive from other casinos.  

Tabcorp fears AU$10m earnings hit as outage halts Melbourne Cup betting

Australian betting and lottery operator Tabcorp Holdings is apologizing to punters, investors and racing bodies after a technical outage cost the company around AU$10m in lost earnings.

Tabcorp’s TAB, Keno and Gaming Services operations went offline on Saturday morning and the retail, digital and telephone betting disruption continued through midday Sunday. The systems were shut down again Sunday evening for a full restart but were reportedly back to relatively normal by Monday morning. Tabcorp said it was doing its best to restore “optimal service levels in coming days.” 

Tabcorp issued a statement saying the outage was due to “a smoke and likely fire incident at a third-party managed data center in Sydney,” stressing that there was “no evidence” of any cyber skullduggery or threats to customer data. The data center in question was operated by Global Switch, which said “there was no fire” although “one customer had several servers and equipment affected.”

The outage could have been timed better, as it coincided with the final day of the Melbourne Cup racing carnival. The shutdown of TAB’s betting operations left many punters with no choice but to patronize so-called corporate bookmakers (Sportsbet, Bet365, etc.) although even these operations were impacted by disruptions to TAB-specific exotic wagers.

Masters betting preview: DeChambeau leads odds

Odds courtesy of OddsShark.com

Usually, on a November weekend in the United States the sporting focus is on college football and the NFL. However, the biggest event this weekend is clearly the Masters, the most prestigious of the four major championships on the PGA/European Tours.

The Masters is usually held in early April at Augusta National Golf Club, but the coronavirus scuttled the event back in the spring. The tournament has never been held past the month of April so it will be very interesting to see if Augusta National plays any differently. Certainly, some of that will be determined by the weather. It will look a bit different, for sure, as the azaleas aren’t blooming this time of year.

One thing golf bettors will notice is earlier start times on the weekend both because of television rights owned by CBS and the fact that days are obviously a lot shorter in Georgia in November than they are in April. CBS has obligations to air an SEC game on Saturday evening and an NFL game on Sunday mid-afternoon so the Masters will finish earlier those days. If you are wondering, the Masters uses a sudden-death playoff format. The last one was in 2017 when Sergio Garcia beat Justin Rose.

The Long Con: Erik Bergman is a modern-day Robin Hood

[youtube https://www.youtube.com/watch?v=t1IRYM2V9VU]

Great.com CEO Erik Bergman is intent on changing the world with the help of the casino industry. Bergman is long considered a modern-day Robin Hood by the people who know him best, whose passion for fighting climate change has inspired him to reach out to the global casino industry to unite to take action in the fight against global warming. Bergman sat down as the first repeat guest on The Long Con, joining our Becky Liggero Fontana to talk about the inspiration behind his crusade.

Bergman has been utilizing his experience in the charity sector to help raise one million euros and then match that donation amount. Choosing the cause of climate change is something that Bergman carefully considered, reaching out to industry experts to understand the problem better. “I’ve struggled to really grasp what that means. A couple of temperature changes, what does that really mean? The water being a little bit higher, I haven’t felt connected really to that.”

Bergman makes a good point to how the vast majority of the everyday population would feel towards climate change. Bergman became motivated by the long-term impact that climate change is going to have on the world’s ability to grow food. According to Bergman “we will have approximately 100 million climate refugees by 2050.”

Genting HK sets sail with new cruises to nowhere out of Singapore

Genting HK has made good on its plans to launch cruises to nowhere. The company’s Genting Cruise Lines arm struck a deal with Singapore to offer the meandering cruises as a way to get people’s minds off the COVID-19 pandemic, and has now made a splash with its first official sailing out of the country, following a similar introduction in Taiwan this past July. There was apparently no shortage of interest, either, for this first trip. 

The World Dream set sail this past Friday on its first trip with around 1,400 passengers, about half of its maximum capacity and reportedly the maximum allowed due to anti-coronavirus policies. Those policies also include social distancing procedures in all public areas, increased food and beverage handling rules, 100% fresh air ventilation in the staterooms and public areas, as well as the ship’s inclusion of a new medical facility. That facility includes a Polymerase Chain Reaction (PCR) machine, which can reportedly detect bacteria and viruses much quicker than other methods.

Apart from the PCR machine, all guests and crew will be tested regularly, as well. Before gaining access to the ship, all guests will have to pass a COVID-19 Antigen Rapid Test, and those who are seven years old or older will have to carry a MICE Pod token, which monitors wearers to ensure they adhere to social distancing guidelines. That requirement stems from orders passed down by Singapore’s Ministry of Health.

The cruises are going to be short – only around two or three nights.  However, they should offer some much-needed relief and give people the ability to step away from the stress caused by being on lockdown. However, the cruise industry has often been seen as a breeding ground for the virus, with large quantities of people confined to smaller spaces where the virus can be propagated more easily. 

Tri-Nations Rugby round 3 preview & match tips

New Zealand will be expected to bounce back emphatically when they take on Argentina for the first time in the Tri-Nations Series. The All Blacks were shocked in an upset by Australia 24-22 in their last outing.

[Image credit: Wikimedia Commons]

The New Zealand rugby public don’t enjoy their side losing, and two consecutive losses would be a tough pill for them to swallow. The All Blacks have not lost consecutive matches since 2011.

All Blacks coach Ian Foster gambled against Australia, with several changes to his side that the defeated the Aussies by 37-points in game three of the Bledisloe Cup. Playmaker Richie Mo’unga is set to play this week, with Beauden Barrett likely to return to fullback. Mo’unga scored 23-points in Sydney but was rested last week for the match in Brisbane.

Guests evacuated as gunfire breaks out at Circus Circus this weekend

The Adventuredome at the Circus Circus Hotel and Casino gave new meaning to adventure this past Saturday. The Las Vegas property has become the latest to be the center of unwanted attention as violence in the city has increased, thanks to a shooting incident that sent three people to the hospital. They were reportedly recovering from their wounds and a “person of interest” has already been apprehended. 

The incident took place around 7:30 PM Saturday night and is said to have started due to a fight between two groups of people inside the facility. As the name might imply to most people, Adventuredome has a family-friendly atmosphere, and there were reportedly a number of families in attendance before and during the shooting. One person told local media outlet KLAS, “We had left to go to dinner. And then we came back… I saw people in tears, crying. This should be a family area, where all these kids play. And to know that people are out there just killing people — it’s not OK.”

Because Las Vegas has seen more violence than normal lately, which is said to be almost 30% higher than normal, the Las Vegas Metropolitan Police Department (LVMPD) has been involved in monitoring the streets and businesses, and had “a lot of cops” on the Strip this weekend. This was undoubtedly the reason the drama came to a quick end, with a suspect being arrested at around 10:30 Saturday night. There has been no new information regarding the individual’s identity or if he or she was the actual shooter, or just someone involved. 

When the shooting started, Circus Circus decided to evacuate some guests as a precaution. It hasn’t provided any details of the incident and it isn’t clear how many people were evacuated or where they were assembled. It’s also not clear if COVID-19-forced social distancing and health protocols were enforced. 

AGEM Index’s recent gains cut by October’s performance

The latest update from the Association of Gaming Equipment Manufacturers (AGEM) for the AGEM Index shows a surprising downturn. The basket of stocks for certain gaming companies saw gains each month from May to September that ranged from just above 3% to as much as 14.5%, but the October results couldn’t keep that momentum going. According to the latest figures, the AGEM Index slipped 6.8% last month from September’s numbers, even as the gaming industry appears to be on a post-COVID-19 rebound.

The Index lost a total of 36.05 points last month, closing at 494.82. While the drop is significant in terms of recovery, it was only 2.5% lower than what was reported in October 2019. This would seem to indicate that gaming operators are still on the right track as they try to get back on course and recuperate recent losses. 

The biggest drop was seen in PlayAGS Inc, which lost 23.7% from September and 76.6% from October of last year. However, in terms of month-to-month performance, International Game Technology took the worst of it, with its stock showing a 26.2% loss compared to September. Year on year, its loss was 38%. Aristocrat Leisure Ltd. also took a hit with a 4.5% dip and forcing the Index to lose 15.96 points. Konami Corp. cost the Index 9.8 points as it saw a month-over-month decline of 10.4%. Transact Technologies added 43% from September, but is still down 42.2% year on year. 

Overall, of the 13 companies covered, eight moved down and five moved up from September. Of those that saw improvement, only one was able to report improvements in both prior-month and prior-year performances. Agilsys, which jumped 12.1% over September’s figure and 7.5% over that of October of last year. The others saw either month-over-month improvements or year-on-year improvements, or vice versa. Scientific Games Corp. falls into that category, seeing an 8.7% month-over-month slip, but a year-on-year gain of 32.9%.

State of Origin Game Two Preview & Match Tips

New South Wales (NSW) have made wholesale changes to their side as they attempt to square the State of Origin series against Queensland at ANZ Stadium in Sydney.

The home side were shocked by a Queensland side, considered to be the biggest underdogs in the last 40 years of State of Origin history. NSW were backed by league experts to overwhelm an injury-depleted Queensland side, missing several key stars.

Queensland were able to overturn a 10-0 halftime deficit to record a memorable 18-14 win in front of a partisan Adelaide Oval crowd, witnessing their first Origin game.

The Maroons will head into game two in Sydney with plenty of confidence, knowing more win will clinch the State of Origin Shield, stopping an NSW three-peat. The Maroons have been forced to make several changes to their starting side. Valentine Holmes will make his first appearance, after his return from the NFL at fullback. Dunamis Lui comes into the starting side at prop in place for Christian Welch, who was ruled out due to concussion protocols. Jaydn Su’A comes into the side at the expense of Cohen Hess.

Crown Melbourne set to reopen as regulatory scrutiny increases

Crown Resorts wants to put a new multibillion-dollar casino in New South Wales (NSW), but has put itself under the regulatory microscope, threatening those chances. With the casino operator being called out for multiple infractions, it is now considered “unsuitable” for a license, although it will most likely have a chance to turn things around. While it’s facing that major dilemma, Crown is preparing to get one of its properties back in business, and Crown Melbourne is expected to reopen this week after having been shuttered due to the COVID-19 pandemic.

Crown announced this morning through a filing with the Australian Securities Exchange that Crown Melbourne has worked out a deal with the government that will allow it to fire up the gaming machines and uncover the tables. As should be expected, though, the environment will be much different than what was enjoyed pre-COVID-19, with a number of restrictions put in place to help prevent the virus from spreading. While casinos across the globe have also implemented similar policies, some have been forced to shut down again, and the same fate might ultimately be seen at Crown Melbourne, as well.

Crown CEO Ken Barton says in the announcement, “We have been working for some time with the Victorian Government and health authorities to determine how we can safely re-open Crown Melbourne and have developed extensive physical distancing and hygiene measures to allow re-opening in a safe manner. We are pleased to be able to commence the process of welcoming back our employees and customers to Crown Melbourne.”

Operations will relaunch this coming Thursday, but there will be only ten VIP areas, each able to welcome up to ten guests. There will be social distancing measures in place, such as every second gaming machine and electronic table game turned off, and guests will only be allowed to remain in the venue for up to an hour and a half. In addition, each area of the casino will be required to have a “COVID Marshal” to make sure everyone is following the rules. 

Junkets could become a thing of the past for Macau

The junket market feeding Macau’s casinos could be in trouble. It has already come under fire by the city’s gaming regulators, and a new law expected to be approved in China could make things worse. However, that’s not the end of it, as junkets had already taken a massive hit due to COVID-19, both directly and indirectly. As far as Wynn Resorts is concerned, the market segment will never be the same, regardless of how strong the gambling industry emerges after the coronavirus pandemic.

Wynn Resorts held an earnings conference call last week when the topic of junkets came up. The company’s CEO, Matt Maddox, painted a gloomy picture of what’s in store for its “top line market share,” and asserted, “As far as the junkets, again, lots of conversation about junkets. That business is not dead as some people like to say. We saw it getting back to 25 percent to 30 percent of its previous levels. I believe it will continue to consolidate with some of the largest operators, and we will continue to participate in it. So I don’t anticipate that junket business will be back to 2019 levels, because it is consolidating and it is shrinking.”

In January of last year, there were 100 licensed junkets in Macau, and that figure dropped to 95 at the beginning of this year. It has continued to decline since then, and the city has already been forced to adjust its earning potential from the segment. Macau has only taken in around 75% of what it received last year from junkets, and this is expected to be lower as the coronavirus issues linger. 

Just because the junket segment is smaller doesn’t mean that Wynn is ready to write it off completely. Maddox added during his call, “Clearly [the junket industry] is changing and it will be smaller than it was before, but it’s still very real. That business is not dead as some people like to say. The industry will continue to consolidate into the larger operators, and we will continue to participate in it.” Wynn started paying junkets a commission of 42.5% this past March, a 2.5% increase over the previous figure, and the first time the operations had seen a boost in 14 years. Of course, with no traffic heading to Macau at that time, a 42.5% commission could have just as easily been 100% and it wouldn’t have made a difference in payouts.

India raids gambling den of dead congressman

A raid of a former Indian Congressional Leader has resulted in more than 60 arrests. Madhya Pradesh Police swarmed the home of the late Dharmendra Sonkar, arresting his brother and confiscating guns and money on November 7.

The raid consisted of over 200 policemen, who went after Gajendra Sonkar, nicknames Gajju, for suspicions of running a gambling den. They confiscated 17 weapons, ammunition, Rs 7.5 lakh ($10,129 USD) and “relics of deer,” according to one outlet.

Jabalpur Superintendent of Police Siddharth Bahuguna said, “The police came to know about illegal gambling from a house owned by Gajendra Sonkar. When police raided the house, 41 people were found to be gambling.”

“During the raid, the police also found a large number of weapons and ammunition, including carbines, pistols, rifles, in-country pistols, revolvers and air guns,” he said. The Sonkar brothers will face other criminal cases as well, Bahuguna noted.

Pennsylvania’s casinos keeping Covid-19 under control

Pennsylvania might still be catching up to Nevada’s gambling industry in a lot of ways, but it can proudly say it’s better in at least one way: It has less Covid-19. The state has reported just 108 positive cases among casino employees.

The Pennsylvania Gaming Control Board (PGCB) announced the figure in a Thursday release. The 108 number represents less than 1% of the 16,000 casino employees statewide. The total, representing positive cases since casinos reopened in June, includes 28 cases at Rivers Pittsburgh and 25 cases at Parx in Bensalem, amongst others.

“We currently have more than 1,900 people working at Parx,” said Carrie Nork Minelli, director of advertising and public relations for Parx. “As such over a four-month period our positive case rate is approximately 1.3% which we believe is below the state and Bucks County average.”

Rivers had just a 2% positive test rate. “We’re extremely grateful to Rivers Casino’s Team Members in Philadelphia and Pittsburgh for their relentless dedication to maintaining a safe and healthy workplace,” said casino spokesman Jack Horner. “Despite operating in the two Pennsylvania counties with the highest population densities, cases among Rivers Casino Team Members remain low.”

Surprising blowout in Week 9 of the NFL has sports fans flustered

The Week 9 NFL action on Sunday left a lot of sports fans stunned. Even those who aren’t fans of a particular team and one of the oldest veteran quarterbacks in the league were surprised by a blowout loss that most could have never seen coming. By the time the action wrapped up yesterday, two things were perfectly clear about the 2020 NFL season – anything is possible, and nothing is ever guaranteed.

The Pittsburgh Steelers had difficulty overrunning a team that had expected to put up little resistance. However, the Dallas Cowboys gave their best effort and almost managed to walk away with a win. Cowboys linebacker Vander Esch will have to accept his role in handing his team the loss, as he took a shot at Steelers running back Anthony McFarland, Jr. late in the fourth quarter that gave Pittsburgh great field position and a new set of downs. That single egregious act gave new life to the Steelers, who subsequently punched into the end zone to come from behind and take the win, 24-19. 

The Carolina Panthers found themselves facing the league-leading Kansas City Chiefs yesterday and had some addition help with running back Christian McCaffrey finally able to get back on the field after an injury suffered in Week 2. He picked up 18 rushes for 69 yards and tacked on a touchdown to ultimately make things very difficult for the Chiefs. McCaffrey has proven his value to the Panthers offense by being able to return to the action, and the Chiefs had to fight to win, only taking the game in the final seconds when Carolina failed to convert. The 33-31 score shows how strong the Panthers played against the defending Super Bowl champions. 

The Arizona Cardinals were getting -223 before they suited up to take on the +190 Miami Dolphins yesterday. More than few sports gamblers who decided to back the underdog and rookie quarterback Tua Tagovailoa are enjoying fatter wallets today, as Tag went on to throw for 248 yards and picked up two touchdowns to give the Fins a 34-31 win that also included a Miami defensive touchdown. The Cardinals had a chance to come from behind with just under four minutes on the clock, but the offense couldn’t move the ball far enough and a 49-yard field goal attempt came up empty.

Wakayama and Yokohama continue to face IR problems

We have a new date for the earliest a Japanese Integrated Resort (IR) might open. Wakayama Prefecture has postponed the earliest their IR offering could open to spring of 2026. Meanwhile, Yokohama’s IR dreams look increasingly in doubt thanks to a prospective referendum.

Wakayama was forced into announcing their new potential opening date due to Japan’s Central Government, which has extended the application period for IR licenses. The prefecture is working on a proposal for a casino resort for Wakayama Marina city, and hoped to be open in time for the 2025 World Expo in Osaka. Tatsunobu Yokoyama, director of the prefecture’s planning and policy bureau, admitted: “It may not come in time for the Expo, but I would like to proceed with our goal of opening the first IR in Japan.”

Wakayama is also extending the deadline to receive proposal documents, now accepting them up until January 15, 2021. Currently, Canada’s Clairvest Neem Ventures Co., Ltd. and Hong Kong’s Suncity Group Holdings Japan Co., Ltd. have submitted applications, but this delay could open up space for another operator to apply.

Meanwhile in Yokohama, public opposition to an IR is becoming clear. The “Yokohama Citizens’ Group to Decide on a Casino” has doubled the necessary signatures required to call for a referendum on an IR. They needed 62,500 signatures, but received 156,000. If Mayor Fumiko Hayashi confirms they have enough valid signatures, the city council will vote on moving ahead with a referendum.

iGaming NEXT welcomes new shareholders Tim Heath, Robin Reed and Lahcene Merzoug

November 9, 2020 – Disruptive events and media platform iGaming NEXT has welcomed three new equity holders, with Tim Heath’s Venture Capital fund, Yolo Investments, as well as industry veterans Robin Eirik Reed and Lahcene Merzoug assuming holdings in the quickly expanding company.

The new funding will power the next stage of iGaming NEXT, which has established itself as a modern alternative on the iGaming events circuit. Its content-driven 2019 event hosted in Malta, attended by more than 1,200 delegates, focused upon providing world-class learning opportunities. 

It will host a flagship digital version of the conference between November 10-12, with more than 5,000 delegates expected to attend and keynote speakers including Jason Ader and Todd Haushalter.

iGaming NEXT has also expanded into the media sector, hosting what has already become the iGaming industry’s most popular podcast.

Could you become a poker pro during the COVID-19 pandemic?

The global COVID-19 pandemic has disrupted almost all industries and occupations around the world, and that includes the professional poker player. From playing live tournaments to crushing online, the poker pro has been affected by the COVID-19 outbreak. 

All action went from being live and at the felt for real to on a laptop, mobile device or tablet. For poker pros, life got tougher, but what if you aren’t currently a professional poker and want to become one? What could you do to put this pandemic to good use? 

Train Hard

Poker begins and ends in your own mind. Training, therefore, is as important to a poker player as anything else. From training videos to strategy articles, building a solid base of knowledge to be a poker player is the most important way to start.