Tuesday, July 31, 2018

Opening of The 13 Hotel by August 31: firm 

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GGRAsia
Opening of The 13 Hotel by August 31: firm 

Hong Kong-listed South Shore Holdings Ltd has revised yet again the opening date for its hotel project on the Cotai-Coloane border. The company – known until late June as The 13 Holdings Ltd – is now aiming to open The 13 Hotel (pictured) by August 31, it said in a filing on Tuesday. It had previously stated July 31 as the opening date for the hotel.

“On July 23, 2018, the Macao Government Tourism Office (MGTO) commenced the re-inspection process [of the property],” said the scheme’s promoter. “It is expected that all the required licences (namely the licences for hotel, food and beverage, health club and bar) will be granted by mid-August 2018,” it stated.

MGTO – the body responsible for authorising hotel operations in the city – told GGRAsia on Friday that it had conducted last week a “re-inspection of the facilities in The 13 Hotel”.

“The Macao Government Tourism Office is currently awaiting opinions soon to be given by the technical departments, which will be crucial to the issuance of the hotel licence,” added the tourism office on Friday.

MGTO conducted in June a first inspection of The 13 Hotel, but decided that the scheme’s promoter had to “apply for re-inspection” due to “unfinished works”.

In Tuesday’s filing, South Shore Holdings justified delaying the launch date of the hotel with the need to spend more time on preparation works for the opening, in order to “enhance the competitiveness of The 13 Hotel and to cater for the increasing sophisticated needs of the target customers”.

The hotel’s promoter however noted that the exact date for the opening would be “subject to the actual circumstances” of the licensing progress. In its Friday statement, MGTO did not provide a schedule for issuing the operating licence for The 13 Hotel.

The scheme’s backers aspire to have a casino at the property. In a February 25 filing, the firm said the casino at The 13 Hotel might only open by March 31, 2019, along with some shops at the complex.

MGM Springfield offers first look at M life Rewards

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Casino City Times
MGM Springfield offers first look at M life Rewards
New England's first integrated luxury resort and entertainment destination is inviting the public to experience the excitement of joining M life Rewards, MGM Resorts' loyalty program.

LCB Sister Sites Blacklist the infamous Affiliate Edge

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LCB Sister Sites Blacklist the infamous Affiliate Edge
LCB Sister Sites Blacklist the infamous Affiliate Edge

Great news for LCB'ers - especially fellow US players!

What happened?

Remember the CWC/Affiliate Edge controversy over covertly shaving players from affiliate accounts?

Guess what! The notorious group has been officially BLACKLISTED by our sister sites too.

WorldCasinoDirectory.com and KeyToCasino.com joined the ranks of gaming portals...

...who will not support the shady business of this infamous operator and their affiliate program.

Here's the gist

Formerly a respected RTG brand and a very popular affiliate, Affiliate Edge suffered some internal management conflicts in 2016.

The most experienced of the owners was forced to leave...

...and that's when the problems started.

Their partners noticed revenue loss. It was sudden and seemingly inexplicable.

...and discovered Affiliate Edge was de-tagging them to cut the commission they owned to honest partners.

Making their findings public - it was the nail in the coffin to an already sinking company.

They lost all integrity - the virtue of every respectable iGaming brand.

Strange, isn't it?

To see an already successful company squander everything they've built and gone down the rogue path...

We have to ask ourselves why?

Well...it seems they've made a huge mistake - asking the wrong company for advice.

Rumor has it their new 'expert' advisor is (brace yourselves):

None other than the infamous Affpower!

Unrepentant distributor of pirated software...

Unethical thief of rightly earned winnings...

Hacking websites and flooding them with their own adds without permission...

You name it- they've surely done it!

Remember

Quite a number of RTG online casinos still operates under CWC label - all part of Affiliate Edge program.

Here are a few venues listed at LCB with the Warning sign:

High Noon Aladdin's Gold Lucky Red Manhattan Slots All Star Slots Club SA Buzzluck

Though American gamers, left without much choice, played at these venues without too many issues...

...we urge you not to support brands that cheat partners - effectively stealing their hard-earned revenue!

If they can do it to affiliate clients...

What makes you think players won't be the next victims of their greed?

Melco Resorts Philippines redeems PHP6bln of debt paper

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GGRAsia
Melco Resorts Philippines redeems PHP6bln of debt paper

Melco Resorts and Entertainment (Philippines) Corp says it will redeem up to PHP6 billion (US$112.79 million) of the outstanding PHP7.5 billion of corporate secured notes issued by its wholly-owned subsidiary, Melco Resorts Leisure (PHP) Corp. Melco Resorts Philippines announced the transaction to the Philippine Stock Exchange on Monday after a meeting of the board.

Melco Resorts Leisure issued PHP15 billion of senior notes at 5 percent on January 24, 2014. The paper was due to mature in January 2019. The current redemption will be funded from cash at hand.

Melco Resorts Philippines is a subsidiary of Asian casino operator Melco Resorts and Entertainment Ltd. Melco Resorts Philippines manages and operates the City of Dreams Manila casino resort (pictured), a project it developed in cooperation with Premium Leisure Corp. The latter is a subsidiary of Belle Corp, the gaming and real estate unit controlled by the Sy family – widely regarded as the wealthiest family in the Philippines.

Part of the gaming revenue or earnings from the City of Dreams Manila is paid directly to Belle Corp, which announced on Friday a net profit of about PHP920 million in the second quarter of this year – a 10.2-percent increase over the same period last year. Second-quarter gaming revenue at Belle Corp grew by 43.9 percent to about PHP1.07 billion.

Melco Resorts said in May this year it was in talks with Belle Corp to take an equity stake in the City of Dreams Manila. As recently as April, Belle Corp repeated its offer to develop additional facilities at the City of Dreams Manila, including non-gaming facilities and hotel accommodation.

Announcing its group results for the second quarter last week, Melco Resorts said net revenue at the City of Dreams Manila rose to US$173.9 million – up from US$176.2 million – and that adjusted earnings before interest, tax, amortisation and depreciation rose to US$87.3 million, up from US$62.8 million in the corresponding period one year earlier.

Monday, July 30, 2018

Player wins €179K at Casumo

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Player wins €179K at Casumo
A Finnish player managed to win a total of €179,669 with a single deposit of €100 spread out over eight days.

Bally’s, Harrah’s Launch Sportsbooks This Week In Atlantic City; Online To Follow Soon

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Bally’s, Harrah’s Launch Sportsbooks This Week In Atlantic City; Online To Follow Soon
Harrah's

NJ sports betting begins at Bally's and Harrah's in Atlantic City this week. Caesars is rolling out sports betting at its properties in New Jersey and Mississippi with online sports betting next up.

The post Bally’s, Harrah’s Launch Sportsbooks This Week In Atlantic City; Online To Follow Soon appeared first on .

GEG launches Macau training scheme for Japan uni students

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GGRAsia
GEG launches Macau training scheme for Japan uni students

Macau-based casino operator Galaxy Entertainment Group Ltd – also known as GEG – announced on Monday a scheme to bring to Macau groups of Japanese university students, for them to learn more about integrated resort management.

The scheme – dubbed “GEG Japan-Macau Integrated Resort Management Mentorship Pilot Scheme” – is jointly organised by Galaxy Entertainment, Galaxy Entertainment Group Foundation and Japan’s Toyo University, and supported by the University of Macau.

A first group of students from the Faculty of International Tourism Studies at Toyo University in Tokyo is poised to visit Macau under the programme, for a total of four weeks in August. They will attend lectures provided by faculty members of the International Integrated Resort Management Programme at University of Macau, and mentoring sessions conducted by Galaxy Entertainment executives across a wide variety of topics.

“This first ‘class of 2018’ will be one of many groups of students that Galaxy Entertainment plans to host in Macau as it evolves the scheme to include other tertiary institutions across Japan in the years to come,” said the firm in a press release.

Presented as “the first of its kind”, the programme has been “designed to support academic institutions and their undergraduate students in Japan to learn about integrated resort management as this new industry prepares to be introduced to the Japan market.”

Japan’s parliament passed on July 20 the long-awaited Integrated Resort (IR) Implementation Bill, a second of two pieces of legislation that will lead to the establishment of a domestic casino industry. A number of industry executives expect the first casino licences to be issued in around the year 2020, with the first resorts to open for operation in circa 2025.

“We recognise that Macau, and Galaxy Entertainment, have both the vision and an opportunity to share its formula for success with Japan as it embarks on the path of integrated resort implementation,” stated Francis Lui Yiu Tung, vice chairman of Galaxy Entertainment, in a prepared statement included in Monday’s release.

Galaxy Entertainment has previously declared itself a contender for a casino licence in Japan. The firm has also hired Ted Chan Ying Tat , a former senior executive of its Macau market rival Melco Resorts and Entertainment Ltd, as chief operating officer of its Japan development team.

Govt, promoter at odds over Boracay casino project

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GGRAsia
Govt, promoter at odds over Boracay casino project

A Philippine presidential aide on Monday denied reports that the construction of a casino resort on that nation’s holiday island of Boracay (pictured) will move forward.

“I don’t think any private entity should test the political will of the President on the issue of casinos on Boracay,” presidential spokesman Harry Roque said in a media briefing, as reported by the CNN Philippines. “The President has said ‘no’ and I would hope they will respect that,” he reportedly added.

Mr Roque’s comments came on the heels of similar remarks made over the weekend by the head of the Department of Tourism of the Philippines, Bernadette Romulo-Puyat, who reiterated that no new casino would be built on Boracay. The comments from the two government officials are in stark contrast to comments made by the scheme’s promoter, which on Friday said the casino resort on the island was “on track to open in 2021,” according to local media reports.

It was announced on March 21 that the Philippine Amusement and Gaming Corp (Pagcor) had granted a provisional gaming licence for Galaxy Entertainment Group Ltd on Boracay. Galaxy Entertainment and its Filipino partner, Leisure and Resorts World Corp, had said they wanted to build a US$500-million gaming resort on a 23-hectare (57-acre) site at Barangay Manoc-Manoc on Boracay.

“The President [Rodrigo Duterte] recently reiterated to the Department of Tourism his earlier position against the entry of casino operations in Boracay,” Ms Romulo-Puyat said in an interview published on Sunday by the Business Mirror newspaper.

“This is in line with the desire of the Department of Tourism and tourism stakeholders in Boracay to further develop the island as a sustainable and family-oriented destination,” she reportedly added.

The reiteration of the President’s position on the topic came as Katrina Nepomuceno, vice president for legal affairs at Leisure and Resorts World, said on Friday that the planned project for Boracay had not been delayed by the closure of the island. The national government ordered a six-month shutdown of tourism to Boracay on April 26.

Ms Nepomuceno said the company was able to conduct the needed tests and surveys before the closure of the island, reported the Manila Standard newspaper.

“Basically, right now … we’ve been working on the initial plans for the resort development. So continuously we’ve been discussing with Galaxy Entertainment Group, with the DENR [Department of Environment and Natural Resources] and other government agencies,” Ms Nepomuceno was quoted as saying.

The executive said additionally that she was confident in the project’s success despite the government’s reservations regarding the choice of Boracay island for the scheme. “The fact remains there is a property and our partner has a licence,” she reportedly added.

In a statement on April 11, Pagcor had said the provisional licence granted to Galaxy Entertainment was “only the start of a very long and tedious process of compliance … before they can be issued by Pagcor a ‘Notice to Commence Casino Operations’ and eventually, a regular casino gaming licence”.

In Monday’s press briefing, Mr Roque noted that the provisional gaming licence granted to Galaxy Entertainment was “not a licence itself”. “It is subject to the happening of conditions, which will never be fulfilled because the President said he will not allow it,” said the official, as quoted by CNN Philippines.

In Sunday’s interview with Business Mirror, the Department of Tourism’s Ms Romulo-Puyat had said that no resort or hotel would be allowed to reopen in Boracay on October 26 – once the island reopens to tourism – if it is not accredited by the government agency.

Sunday, July 29, 2018

The 13 Hotel still awaiting hotel licence: MGTO

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GGRAsia
The 13 Hotel still awaiting hotel licence: MGTO

The Macao Government Tourism Office (MGTO) – the body responsible for authorising hotel operations in the city – said on Friday that it is yet to issue the operating licence for the The 13 Hotel, a project promoted and developed by South Shore Holdings Ltd. The company was known until late June as The 13 Holdings Ltd.

“A re-inspection of the facilities in The 13 Hotel, a five-star deluxe hotel, has been conducted,” MGTO told GGRAsia in a Friday emailed response.

“The Macao Government Tourism Office is currently awaiting opinions soon to be given by the technical departments, which will be crucial to the issuance of the hotel licence,” added the tourism office.

MGTO conducted in June a first inspection of The 13 Hotel, a project on the Cotai-Coloane border of Macau. The tourism office however decided that the scheme’s promoter had to “apply for re-inspection” regarding its local hotel licensing process, due to “unfinished works”.

In its Friday reply, MGTO did not give a clear commitment to a schedule for issuing the operating licence to The 13 Hotel.

In its latest annual report published on Thursday, the venue’s developer said the company expected that all the required licences for the opening of the property would “be granted on around July 25, 2018 and The 13 Hotel will open on July 31, 2018”. South Shore Holdings said however that the target opening date of the hotel could be revised “according to the actual circumstances in respect of the development”.

Saturday, July 28, 2018

Nolimit City Launches Hot Nudge Slot

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Nolimit City Launches Hot Nudge Slot
Nolimit City Launches Hot Nudge Slot

One rarely sees such a frantic flurry of business activity such as the one demonstrated by the major casino software supplier based in Stockholm and Malta, Nolimit City. The platform and tech solution prodigy has been having one heck of a spring/summer period.

As they continue to come up with various new partnerships and gaming titles, let us remind you that the company released its latest addition, Coins of Fortune, and has agreed upon a deal that will see them begin delivering games to one Mr Green Casino.

Wink-Wink, Nudge-Nudge

But before we go on refreshing your memory with all of the good stuff they've done recently, let's take a look at the brand-new slot sensation, Hot Nudge. The game, which is already live with operators, is a total norm-breaker and bears a certain uniqueness.

This is a 5x4, 40-payline slot game that pays tribute to the classic Nudge feature. Its “hair raising gameplay” is based on diesel-punk aesthetics (think steam-punk on steroids) with constant flaming Wilds and up to 10x multipliers on any given spin!

Potentially dishing out huge wins, this HTML5 game, available on all devices, will appeal to high-rollers.

In Starring Roles

In the sense of sound and visuals, the game is nothing short of a miracle, with a metal contraption serving as reels/slot machine itself, filled with majestically designed symbols like Queen of Steam, Jack of Punk, King of Diesel, Hot Scatters and...

...and on the audio side of things, a gentle, dark-ambient score creates a perfect industrial backdrop for a bleak theme.

Landing at least three scatters will trigger a round of 7 extra spins. The symbols are, in general, expanding and you can get additional extra spins by landing only one more scatter and the number of nudges down.

Nolimit City guarantees that “that this bonus round is sure to drive the thickest skinned to a heated fury that can reap highest rewards.” Well, that sounds good, doesn't it?

The Chief Says

Nolimit City's Product Owner, Per Lindheimer, comments...

“Hot Nudge takes a gritty turn into the diesel-punk world where the persistent may conquer. We always loved the nudge feature in classic games and are very pleased to be able to incorporate it into different features. There are some massive hits in the game and that x10 multiplier sure will get the adrenaline pumping!

During the past months, the company has been busy over their heads and have inked supply deals with Soft2Bet, Bethard, Gaming Innovation Group and Suprnation.

Check the game out and let us know your thoughts:

Source:

“Hot Nudge – Now Live”nolimitcity.com, July 26, 2018.

Controversy At FanDuel Sportsbook Leads To Questions, Concerns As NFL Season Nears

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Controversy At FanDuel Sportsbook Leads To Questions, Concerns As NFL Season Nears
fanduel sportsbook

A couple late MLB games lead to confusion and disgruntlement at FanDuel Sportsbook at the Meadowlands this week, but football season is just around the corner.

The post Controversy At FanDuel Sportsbook Leads To Questions, Concerns As NFL Season Nears appeared first on .

Friday, July 27, 2018

Ocean Resort Casino's upcoming events

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Casino City Times
Ocean Resort Casino's upcoming events
The Atlantic City casino features a line-up of events, entertainment and guest amenities cater to a wide-range of interests.

Snaitech Enters Spanish Market, Playtech to Follow

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Snaitech Enters Spanish Market, Playtech to Follow
Snaitech Enters Spanish Market, Playtech to Follow

Italian developer, Snaitech, is making their first move to foreign markets by entering a deal that will see their brand of tech solutions delivered to Spanish players.

The company has managed to secure the B2B Spanish license (from their regulator, DGOJ) and will therefore swiftly introduce their Smart Technology offer to operators in this Western European nation.

What's on the Menu?

Snaitech will be putting various online and mobile app sports betting products, payment processing services and betting terminals...

The deal is being made with the help of BetSmart platform and Apuestas de Espana.

...And as Fabio Schiavolin, the company's managing director puts it: “The Snaitech universe is being transformed and is driving the company beyond its position as an Italian market leader. After launching in July, in the following months we want to expand our presence in the Spanish gaming sector in different autonomous communities.”

Impending Changes

Back in April, the software developing giant, Playtech, has completed the acquisition of Snaitech's 70.6% of shares for €846 million and has since been required to purchase the remainder of shares after securing approval from Italy's financial regulator, Consob.

At the moment, Playtech owns 96.5% of the Snaitech shares and will complete the full takeover on August 3rd.

This acquisition also means a change in personnel. Shiavolin will remain managing director of Snaitech until 2021, while Mor Weizer, Playtech CEO will become the chairman of the company.

Likewise, Playtech's Chief Financial Officer will be joining the board.

Weizer commented that this reshuffling would “improve the quality and diversification of group revenue, whilst delivering exposure to high growth end markets.”

Source:

“Snaitech enters Spain as Playtech deal nears completion”, igamingbusiness.com, July 26, 2018.

Casino News Report - July 2018

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Casino News Report - July 2018
Casino News Report - July 2018

We’ll explore this month’s featured casinos and what they have going for you, see how you can win extra LCB credits while also becoming an expert on BBQ recipes and give you some hints on new casinos and how to make the most out of your membership for the next month.”

This is LCB News and here’s our monthly review.

 

Hi LCB’ers! Hope you’re enjoying all the summer pleasures as we do with another fantastic month behind us; and we can’t wait to share some of the highlights with you while having just landed from the marvellous iGB Live conference in Amsterdam.

First up, this month’s must-try US casino is the speakeasy-themed Roaring 21, a casino which carries the reputation of its sister brands Casino Max and Cherry Jackpot, has an exclusive welcome bonus and a casino rep Martyn whom you can contact day and night directly on our forum should you need any additional assistance.

For crypto fans out there, Realtime Gaming-powered “Intertops Red” is our recommended Bitcoin casino of the month, which is also one of our few approved sites that you can rely on. Be sure to check out our full review with exclusive bonuses to get started right away!

Any Microgaming fans watching?! For our third and final pick, we have “Luxury Casino” that’s from the popular Casino Rewards family and which also caters to players from the UK and Canada.

 

Did you know we have a “members only” section with exclusive kick-ass tournaments hosted by reputable casinos? Don’t hesitate to get in on the action this August and don’t forget to subscribe to the thread to receive notifications when something new comes up as these events are exclusive to LBC members!

 

Speaking of tourneys, we have our own summery monthly contest in full action, where besides a chance of winning a share of a hefty prize pool you’ll also get some finger-licking BBQ recipes from members across the world. There’s never too much to learn about good food, so be sure to share your own recipe so we can all try it out next time we fire up the grill!

And don’t worry, if you missed this contest you can just click that yellow Subscribe button so you know when to join next time!

 

With all that taking place we also made sure to have something fresh off the press on our trendy New Casinos page. Feel free to refine the new sites to your liking using our filters but let us give you a couple of hints first; starting with “Rolla Casino” which offers many reasons to join such as fast, 24-hour cashouts, daily tourneys with wager-free prizes and player missions for even more rewards.

Split Aces Casino is another one which we think high rollers especially will find interesting that already sets a good example with a watchful rep on our forum, and offers plenty of payment methods and games to choose from.

Be sure to read our full reviews and speak up to let us know what you really think of them as well!

 

Finally, big thanks to our active members on the forum who have also shared their stories on memorable wins; and congrats to our senior member “mikino” who shared his journey from converting his casino comp points into twelve hundred bucks on roulette at Grande Vegas Casino. Read our complete interview and don’t be shy to inspire us with your own success stories as well!

 

That’s the report for this month.

Hope you liked it and be sure to share your thoughts on it in the comments section so we can continue to deliver the best content possible.

You can also find us on Facebook, Twitter, Google Plus and YouTube.

As always, play responsibly and stay tuned for more news coming soon!

Pagcor urges review of reforms that slash its tax breaks

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GGRAsia
Pagcor urges review of reforms that slash its tax breaks

The Philippine Amusement and Gaming Corp (Pagcor) has urged lawmakers to reflect on proposed reforms to corporate tax laws that may reduce the organisation’s profitability.

The Philippine congress is considering tax reform legislation that includes a reduction of the rate of corporate income to 25 percent, down from 30 percent. The bill before lawmakers makes up the shortfall in government revenue by rationalising other tax incentives. Those incentives include the repeal of a presidential decree that Pagcor pay a tax of 5 percent on the gross revenue from its operations and be exempt from all other taxes. Pagcor is the country’s gaming regulator and an operator of casinos.

In a press release issued on Thursday, Pagcor said its tax break should stay in place because it faces “already onerous obligations” to contribute to the nation’s coffers, among other commitments. Pagcor noted that it also contributes to “nation-building and other socio-civic undertakings”.

“Pagcor at any year could be contributing to government coffers from 52.5 percent to almost 70 percent of its earnings. Thus, illustrating why the ‘in lieu of all taxes’ provision was included in Presidential Decree 1869 and why it should stay,” the statement reads. “We hope that the bills… will be meticulously studied,” it adds.

Presidential Decree 1869 took effect in 1983 and regulates gaming and casinos in the Philippines. The decree also specifies the tax regime for Pagcor.

Under the Comprehensive Tax Reform Package proposed by President Rodrigo Duterte, the Philippine government has passed legislation to spread the tax burden across the economy.

In Thursday’s release, Pagcor stated: “If the ‘in lieu of al taxes’ provision is repealed, it should also include the repeal of all the funding requirements of Pagcor, leaving only the corporate income tax, such that Pagcor and its licensees should be treated as ordinary businesses.”

Pagcor has made headlines recently for exceeding official guidelines for loyalty payments and gifts to long-serving staff. Its management was forced to deny the report by a government auditor that it had spent lavishly on 18-carat gold rings for 20-year veterans at the organisation. Pagcor says the practice of giving staff gold rings ended in 2016.

Thursday, July 26, 2018

Landing Intl must open theme park before casino: Pagcor

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GGRAsia
Landing Intl must open theme park before casino: Pagcor

The Philippine Amusement and Gaming Corp (Pagcor), the casino regulator in that country, said that a subsidiary of casino investor Landing International Development Ltd that has been authorised to develop an integrated resort at Entertainment City, will have to open first the scheme’s proposed theme park before being allowed to begin casino operations.

Hong Kong-listed Landing International said on Wednesday that Pagcor had granted a provisional gaming licence to its wholly-owned unit Landing Resorts Philippines Development Corp. The permit is “to operate a casino at the integrated leisure and entertainment resort within Entertainment City,” in Metro Manila. The provisional licence and the regular licence shall together “be valid until July 11, 2033,” the parent firm stated, adding that, upon expiry, the regular licence could be renewed by Pagcor.

Pagcor confirmed on Thursday that it granted a provisional licence to Landing Philippines, albeit subject to a few conditions. The regulator said in a press release that the theme park planned for the Manila scheme would have to open “before Pagcor may issue the authority to commence its casino operations in favour of Landing”.

The regulator added in its statement: “Landing may not commence casino operations before the end of February 2022 in observance of Pagcor’s agreement with the existing integrated resorts and casinos in Entertainment City, to give them a period of five years to allow the industry to mature starting February 2017.”

On May 1, Andrea Domingo, the head of Pagcor, told local media that Landing International was advised to “secure a clearance” from Philippine President Rodrigo Duterte for its Entertainment City project. In its Thursday release, the regulator stated that “through a memorandum dated May 24, 2018, Pagcor informed the Office of the President” of the provisions included in a draft version of the lease contract with Landing International. The lease provisions were eventually amended on July 4, with an increase of 140 percent in the monthly rental fee to be paid by Landing International, and a decrease in the initial lease period from 50 years to 25 years.

The Philippines casino resort – dubbed NayonLanding – has a price tag of US$1.5 billion, according to Landing International’s Wednesday statement. The company said there would be a ground breaking ceremony on August 7 for the casino project, with the firm expecting to begin operations “in early 2022”.

According to Pagcor’s release, the casino – which will occupy a maximum of 7.5 percent of the overall gross area of the scheme – is a component of Landing’s tourism project with the Nayong Pilipino Foundation, a body created to “promote, encourage and initiate” research and development projects and activities.

The Nayong Pilipino Foundation is the owner of the 9.5 hectares (23.5 acres) of land in Entertainment City that was leased by Landing Philippines to develop the casino resort.

The Philippines is currently developing a 120-hectare area of reclaimed land close to Manila – known as Entertainment City – into a casino cluster, meant to emulate the success of Macau’s Cotai district. There are three large-scale casino properties at Entertainment City, with a fourth one being developed by Travellers International Hotel Group Inc on land that is also owned by the Nayong Pilipino Foundation.

Franco celebrates third anniversary in Vegas

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Casino City Times
Franco celebrates third anniversary in Vegas
Magician Mat Franco will team up with Sunny 106.5 and Petco to collect much-needed supplies to benefit The Animal Foundation, Nevada's largest open admission shelter.

The Reel Life: Pooper scooper edition

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Casino City Times
The Reel Life: Pooper scooper edition
Poetic justice has been served to a man who got himself into some deep doo-doo in Plainsville, Ohio.

Global online gaming and betting market increasing

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Global online gaming and betting market increasing
Online gambling and betting refers to operators providing gambling and betting games, such as, casino, poker, sports betting, lottery, and other games to end-users through an Internet-based digital platform.

Wednesday, July 25, 2018

Sands China 2Q EBITDA growth helps LVS results

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GGRAsia
Sands China 2Q EBITDA growth helps LVS results

Global casino operator Las Vegas Sands Corp reported a year-on-year increase of 1.8 percent in net income in the second quarter of 2018 to US$556 million. The quarterly results were driven by a strong performance at Sands China Ltd, which saw a 25-percent increase in adjusted property earnings before interest, taxation, depreciation and amortisation (EBITDA), the parent firm said on Wednesday.

The group’s consolidated net revenue for the three months to June 30 increased by 6.2 percent from the prior-year period, to US$3.30 billion. Operating income in the second quarter fell 2.4 percent year-on-year to US$797 million. The decrease in operating income “was primarily due to softer rolling volume and win percentage in Singapore and a US$92 million write-off of costs related to the tower adjacent to the Four Seasons Macao,” said Las Vegas Sands.

Las Vegas Sands reports its results using U.S. generally accepted accounting principles, also known as GAAP.

Group-wide consolidated adjusted property EBITDA – a non-GAAP measure – increased 1.4 percent year-on-year to US$1.23 billion, with EBITDA margin of 37.1 percent versus 38.9 percent in the second quarter of 2017.

“We are pleased to have delivered strong financial results in the quarter, led by robust growth in Macau, where every property in our portfolio delivered growth and adjusted property EBITDA reached US$750 million, an increase of 25 percent compared to the second quarter of 2017,” said Sheldon Adelson, the group’s chairman and chief executive, in a prepared statement.

On a U.S. GAAP basis, total net revenues for Macau-based Sands China increased 18 percent year-on-year to US$2.11 billion in the three months to June 30, compared to US$1.79 billion in the prior-year quarter. The unit’s net income for the period rose by 30.0 percent to US$427 million, compared to US$328 million in the second quarter of 2017.

“Sands China second quarter results came in line with consensus (slightly below our estimate),” said brokerage Sanford C. Bernstein Ltd in a Thursday memo. “EBITDA was helped by high VIP hold rate (3.5 percent versus 3.3 percent in second quarter 2017 compared to a normal range for Sands of 3 percent to 3.3 percent),” wrote analysts Vitaly Umansky, Zhen Gong and Kelsey Zhu.

The brokerage noted that Sands China’s net income “was negatively impacted” by a non-recurring US$92-million write-off of disposal of assets – related to the tower adjacent to the Four Seasons Macao – along with slightly higher interest costs.

Mass growth

According to Wednesday’s results, Sands China outperformed the Macau market in VIP growth but had slightly lower mass growth than the overall market.

Sands China saw its VIP rolling win increase by 29.8 percent year-on-year, to US$645 million in the second quarter of 2018. The company operated an average of 252 VIP gaming tables during the period, compared to 211 in the prior-year period.

The Macau unit was able to expand its revenues in the premium mass table segment by about 29.0 percent in the second quarter of 2018, while mass gaming table revenues overall grew by 19.6 percent.

“I think the success of this quarter demonstrates material growth in all our segments in our businesses in Macau. Rolling, mass, premium-mass, slots, electronic table games, rooms, retail all showed material growth,” Robert Goldstein, Las Vegas Sands’ president and chief operating officer, said on a conference call with analysts following the results announcement.

“Our EBITDA [in Macau operations] reflects US$150 million year-on-year improvement. But the most important driver of this growth is premium mass,” he added.

Las Vegas Sands management said on the conference call that it remained optimistic about the Macau market outlook, especially in the premium mass. The company executives emphasised that strong growth in the premium mass sector was largely on deeper penetration into the mainland China market, beyond the Guangdong province.

“This strong growth comes – we think – from a non-Guangdong segment of the business and it bodes well for our future,” said Mr Goldstein.

“We are extremely confident that we found the key to growing our business, not just this year but beyond … The growth is based on a much more sustainable segment, that being mass and premium mass,” he added.

VIP expansion

Las Vegas Sands confirmed that it was looking to expand its business in the VIP segment, as that would improve liquidity in the overall gaming system and eventually also help to grow the premium mass segment.

“In the junket business, we need to do more. We keep redefining the physical structures in the rooms, we keep talking to our junket partners, and we think there’s a lot more growth ahead of us,” noted Mr Goldstein. “That relationship also spills over to our premium mass … when you have liquidity, that fuels other segments.”

Management reiterated the importance of adding more suites to its Macau portfolio, mainly via the renovation of the Parisian Macao, Four Seasons Macao and the St. Regis, as well as the redevelopment and rebranding of Sands Cotai Central into the Londoner Macao.

Renovation work of Sands Cotai Central – to be done in phases – is scheduled to begin in late 2018, with completion of all components expected in 2020.

“I’m very excited by the way the design work for the Londoner is progressing. The Londoner will have tremendous potential as a third landmark, must-see destination,” said Mr Adelson on the conference call.

Sands China’s flagship property Venetian Macao (pictured) generated revenue of US$830 million in the second quarter, up 23.1 percent in year-on-year terms. Adjusted property EBITDA was US$331 million, a year-on-year increase of 29.3 percent.

Venetian Macao’s casino revenue increased 25.8 percent year-on-year, to US$677 million. The property recorded rolling chip volume of US$7.46 billion for the period, up 44.3 percent from the prior-year period.

The Parisian Macao reported revenue and adjusted property EBITDA of US$371 million and US$114 million, respectively, compared to US$353 million and US$106 million in the second quarter of 2017.

Rolling chip volume at Parisian Macao was nearly US$4.48 billion, up 19.1 percent year-on-year. Non-rolling chip drop at the property’s casino was US$1.06 billion, an increase of 8.6 percent from a year earlier.

Marina Bay Sands in Singapore – also part of the property portfolio of Las Vegas Sands – saw its quarterly results negatively impacted by lower rolling chip volume and win percentage.

The property generated revenue of US$705 million in the second quarter of 2018, down 15.5 percent compared to the prior-year period. Adjusted property EBITDA was US$368 million, a decrease of 25.2 percent from a year earlier.

Rolling chip volume for the Singapore unit fell by 32.6 percent year-on-year to US$5.87 billion, with a rolling chip win rate of 2.84 percent, down from 4.42 percent in the second quarter of 2017.

Las Vegas Sands paid a quarterly dividend of US$0.75 per share during the April to June period. The company announced that its next recurring quarterly dividend of US$0.75 per share will be paid on September 27.

Crypto-friendly Mr Bit Casino Now Live

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Crypto-friendly Mr Bit Casino Now Live
Crypto-friendly Mr Bit Casino Now Live

No matter if it's sizzling hot or raining cats and dogs (or as Ella Fitzgerald sang, “when it sizzles and when it drizzles”), the day is beautiful when we have a brand new online casino to announce for you!

Our new place of worship is called…

Mr Bit and we can take a guess by its name, you know what it's mostly about. That's right – cryptocurrencies! Well, just Bitcoin for now really, but we won't be surprised to see a variety of digital assets added in near future.

What to Expect

This sister site to the well-established casinos such as SlotV, Drift and Frank is adorned in an elegant and classy navy blue, a fine coat for a cutting-edge design and architecture that provides modern-day functionalities needed for desktop and mobile operating.

The lovely design is underlined by its cleanliness and intelligent use of space. Its main menu is hidden to the left and can be always accessed, and the home page features a cool game genre filter that lets you quickly find what you're looking for in terms of entertainment.

A Multitude of Currencies & Promos

Aside from Bitcoin, Mr Bit has the bragging rights for accepting multiple other currencies such as Euro, US dollar and more. Bitcoin transactions are processed anonymously and instantly. A large amount of licensed games, with more being added every day, are all supplied by leading developers.

Promotion-wise, Mr Bit offers a cool cashback up to 10%, birthday presents, a cool VIP plan with bigger cashback, private tournaments and more bonuses.

Every Monday is reserved for Happy Hours granting extra spins. A special treat comes in the form of Bitpoints awarded for every bet made playing real money games! These can be exchanged for money without any wagering requirements!

It goes without saying that a casino as well-prepared as this one comes with a 24/7 support service that will be there every step of the way for you.

Are you looking forward to joining Mr Bit? Let us know in the comments below and in the meantime, we’ll be presenting you with our own review of it in no time.

More Perks for LCB Members

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More Perks for LCB Members
More Perks for LCB Members

Hey guys! Long time no see from our Shop of casino goods. That is, if you think a couple of days is too long to endure without claiming a free chip. LCB exclusive offers are always worth the wait, and whenever there are news from the shop, you know something great is in store for players. Finding a decent casino is not an easy task; grabbing a genuine bonus with sensible terms is even harder; but getting both is a winning combo and this is what we want our loyal members to experience.

In for a Wild Ride

LSbet joined the iGaming world in 2012, and has since built a solid reputation among online players, especially punters who prefer sports betting. But even though they are more into this gambling pastime, the brand offers an assortiment of modern video slots you will surely like. Licensed by Curacao, they endorse a variety of payment methods, and have a bonus scheme of their own for even more opportunities.

If you are willing to part with $2 of your LCB chips, LSbet will award a cash chip of €5 to spend and try to get more winning opportunities on Net Entertainment slots. NO deposit is required to claim this bonus - yes, it is FREE as long as you have never been credited another no-deposit bonus from the site. In that case, a minimum of €10 is needed to qualify. Any subsequent purchases will always require the following:

Daily, or less than bi-weekly claims: a minimum deposit of €20 Bi-weekly claims: a minimum deposit of €10

Wagering requirements are very reasonable, and for all but the very first one, the bonus-generated winnings do not have any cash-out limits! Not all countries are eligible, however, and to find out if the restrictions apply on you, visit the Shop and search for LSbet.

We have more great news! Bitcoin-friendly WildTornado, currently one of the hottest Shop items, has generously increased the amount of extra spins from 30 to 50! Everything else remains the same, including the amazing 10x wagering, first set of spins that is free, and numerous allowed games.

For those of you who may be new to our portal, LCB has a very special rewards program and a loyalty store, where many bonus chips and other casino items are offered exclusively to the members by our reputable partner brands. These are unique gifts to reward your valuable contributions, and continued support to LCB and the gaming community in general.

The NJ Sports Betting Market Is A Little More Crowded Now

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The NJ Sports Betting Market Is A Little More Crowded Now
several people riding on a bike

Six casinos submitted applications for sports betting before the deadline, putting the total number of N.J. casinos who are already running sportsbooks or have applied to run a sportsbook at eight of nine.

The post The NJ Sports Betting Market Is A Little More Crowded Now appeared first on .

Tuesday, July 24, 2018

Red Tiger Gaming Teams Up With Jumpman

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Red Tiger Gaming Teams Up With Jumpman
Red Tiger Gaming Teams Up With Jumpman

One of the most prolific multi-brand casino owners and operators, Jumpman Gaming, is further enhancing their repertoire of gaming offers. Some months ago, they have access to Wazdan's full portfolio of slots and this UKGC-licensed operator has just struck a brand new partnership with another iGaming big-shooter.

The award-winning developer and supplier, Red Tiger Gaming, is the latest to sign a contract with Jumpman. This means that the company, founded in 2014 that today employs more than 200 people, will be delivering a full array of their HTML5-based games such as Dragon Luck, Totem Lightning, Treasure Mine and Tiki Fruits to casinos and bingo sites who belong on Jumpman's network.

Partnerships Galore

Red Tiger has hit a few milestones this year, first by reaching an agreement with Mr Green and then by inking another cooperative effort with Pomadoro. As part of the deal, Jumpman Gaming will also gain access to Red Tiger's Smart Spins bonusing platform.

Some of the websites belonging to Jumpman Gaming's network are Amazon Slots, Big Thunder Slots and Dove Bingo.

CEO's Opinion

Red Tiger Gaming's CEO, Gavin Hamilton, comments…

“Jumpman Gaming has established a strong casino network and we are excited to be delivering our games to their far-reaching customer base. Some of our most popular titles are already on site and we look forward to unveiling plenty more as the relationship develops.”

Jumpman Gaming's spokesperson says: “Red Tiger have a proven track record of developing slot games and it’s fantastic for us to have their games on our sites. Their games always offer a superb experience to players, as do their smart spins, so we are excited to be rolling them out across our brands and believe they will drive player engagement.”

Last year, Red Tiger won their first ever EGR Award in the Slots Provision category. In 2018, they bettered that success by clinching the RNG Casino Supplier of the Year and Mobile Supplier of the Year awards.

Source:

“Red Tiger Gaming Agrees Jumpman Deal”, Red Tiger Gaming Newsletter, July 23, 2018.

Macau GGR growth to remain at 10-13 pct in July: analysts

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GGRAsia
Macau GGR growth to remain at 10-13 pct in July: analysts

Macau’s casino gross gaming revenue (GGR) year-on-year growth rate is likely to remain in the low teens of percent in July due to the negative impact of the 2018 FIFA World Cup and a low VIP segment hold percentage, stated Japanese brokerage Nomura in a Monday note.

“Our GGR estimate for the month of around MOP25 billion [US$3.12 billion] implies approximately 10 percent year-on-year growth, which is less than the +17 percent year-on-year lift in the second quarter of 2018, as we believe the World Cup had a marginally negative impact in the first half of the month,” wrote analysts Harry Curtis, Daniel Adam and Brian Dobson. A reduction in Macau casino betting volume is said typically to coincide with major soccer tournaments.

The Nomura note cited unofficial industry data for the first 22 days of July, and estimated daily GGR performance for the remaining of the month. It stated that month-to-date VIP hold had stood at 2.8 percent, “lower than the expected normalised hold of 2.85 percent”.

The Japanese brokerage added it expected GGR growth in the second half of 2018 “to settle into a range of roughly low double digit of percent year-on-year, as the drag from the World Cup in June-July and low VIP hold percentage… stabilises”.

In a note also issued on Monday, brokerage Sanford C. Bernstein Ltd indicated Macau’s average daily GGR for the first 22 days of July was approximately MOP834 million, up 11 percent compared with June and up 1 percent compared with May.

“Assuming a GGR average daily rate of MOP800 million to MOP840 million for the remaining days of the month, we estimate July GGR to a range of MOP25.6 billion and MOP25.9 billion, an estimated year-on-year increase in July of 11 percent to 13 percent,” wrote analysts Vitaly Umansky, Zhen Gong and Kelsey Zhu.

During the week from July 16 to July 22, according to Sanford Bernstein, the average GGR daily rate was approximately MOP793 million, representing a 2 percent decline compared to the similar period last year (July 17 to July 23, 2017).

Month-to-date, the VIP hold rate was still “at normal range”, while month-on-month VIP volume “was likely up low teens”, stated Sanford Bernstein.

The rate of year-on-year growth in Macau monthly GGR more than halved in May, to 12.1 percent, compared to April’s 27.6 percent expansion. In March the improvement had been 22.2 percent year-on-year, according to data released by the city’s casino regulator.

Last month, casino GGR rose by 12.5 percent year-on-year, to approximately MOP22.49 billion.

Some investment analysts covering the casino industry have attributed the recent slowdown in GGR growth in Macau in part to a more challenging environment in the VIP gaming segment.

Play'n Go introduces Sizzling Spins

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Play'n Go introduces Sizzling Spins
Released just in time for the height of summer, Sizzling Spins is a five-reel slot giving players 243 different pay ways, plus some novel bonus features.

Blueprint Gaming Obtains Italian License

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Blueprint Gaming Obtains Italian License
Blueprint Gaming Obtains Italian License

One of the industry's leaders in the field of software and game production, UK-based, Blueprint Gaming, continues their global saga and international breakthrough by clinching a deal that will see them enter the market of Italy.

This comes after the company's portfolio of games got certified by the Italian regulatory body, AAMS, who have found their slot titles worthy in quality and content.

Spanish Market to Follow Suit

This move comes soon after Blueprint's recent foray into the markets of Romania and Denmark and with the company setting sights on the market of Spain that should follow in the months to come, it is clear that intentions of global expansion are real and are happening with firm intent and decisiveness.

Italy and its casino punters will thus soon be playing such classic titles as Genie Jackpots, King Kong Cash, TED and Wish Upon a Leprechaun.

The most recent title, This is Spinal Tap, will also be included in this batch of games to be integrated onto the market. The games will also feature the company's Jackpot King progressive system that can be custom tailored for every operator.

Managing Director Weighs In

Blueprint Gaming's Managing Director, Matt Cole, gives his two cents on this important milestone for the company…

“This year has seen us actively grow our presence in Europe’s regulated markets and I’m thrilled that our games are now live in Italy. The Italian iGaming industry continues to evolve and it was an important step for us to be involved in such an exciting territory. We’re confident that players in the region will enjoy our feature-rich games and look forward to working with operators active in the country.”

Blueprint's slots are played on over 100,000 land-based gaming terminals across the UK, Germany and Italy.

In April, another important piece of history was made when as much as five different slots by this company made it to the top 20 list of April's iGaming Tracker Rankings.

Source:

“Blueprint Gaming Expands into Italy”, Blueprint Gaming Newsletter, July 17, 2018.

Monday, July 23, 2018

Tech supplier Crane posts 17pct profit increase in 2Q

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GGRAsia
Tech supplier Crane posts 17pct profit increase in 2Q

U.S.-based Crane Co posted second quarter net income of US$80.7 million, up by 16.6 percent from the prior-year period. The company – an industrial conglomerate that supplies payment and merchandising technology to the gaming industry – reported total net sales of US$851.0 million for the period, a 21.1-percent increase compared to US$702.5 million in the second quarter of 2017.

Operating profit in the three months ended June 30 was US$113.0 million, up 6.8 percent compared to US$105.8 million in the prior-year period.

The firm’s payment and merchandising technology division recorded sales of US$324.3 million in the three months to June 30.

“[Payment and merchandising technology] sales increased US$126 million, or 64 percent, driven primarily by sales from acquisitions, with US$3 million of favourable foreign exchange and approximately flat core sales on challenging comparisons to the prior year,” Crane Co stated in a Monday filing.

Operating profit for the segment increased by 10.0 percent year-on-year to US$46.1 million. “Operating margin declined to 14.2 percent, from 21.1 percent last year, primarily reflecting the impact of the Crane Currency acquisition, and restructuring and integration related charges,” the firm said.

Crane Co completed in January the acquisition of Crane and Co Inc – also known as Crane Currency – for US$800 million. The latter firm is a supplier of micro-optic technology, which can be used for security purposes for specialised products such as printed banknotes.

Crane Co is a supplier of payment and merchandising technology to the gaming sector. The company also provides highly engineered industrial products to customers including companies in the aerospace, electronics, hydrocarbon processing, petrochemicals, chemicals, power generation, automated merchandising and transportation markets.

The company’s overall second quarter results benefitted from a lower effective tax rate compared to the prior year period, due to tax cuts introduced by the Trump administration in the United States. “The effective tax rate in the second quarter was 23.1 percent, down from 30.5 percent in the second quarter of 2017,” stated Crane Co.

“We delivered another quarter of strong operating results,” said Crane Co’s president and chief executive, Max Mitchell, in a prepared statement accompanying the results announcement. He added that the firm was recording “solid demand” in several segments, including payments.

On Monday, the company said it was raising its 2018 earnings guidance, based on its performance in the first six months of the year. Crane Co said it now expects full-year earnings – under U.S. generally accepted accounting principles (GAAP) – to be in a range of US$4.90 to US$5.10 per diluted share, compared to its prior guidance range of US$4.75 to US$4.95 apiece.

Koy to perform at Blue Chip

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Koy to perform at Blue Chip
The stand-up comedian, Jo Koy, will be at the Indiana casino on Saturday, August 18 at 8 pm in the Stardust Event Center.

NBA Betting Ban Could Cost Golden Nugget Owner Millions in New Jersey

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NBA Betting Ban Could Cost Golden Nugget Owner Millions in New Jersey
golden nugget sports betting

Golden Nugget will be getting into NJ sports betting, but it will be facing a big disadvantage over other sportsbooks in the state.

The post NBA Betting Ban Could Cost Golden Nugget Owner Millions in New Jersey appeared first on .

Macau govt gets preliminary proposal re gaming licences

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GGRAsia
Macau govt gets preliminary proposal re gaming licences

The Macau government has already received a preliminary proposal for amending the existing gaming law, said on Saturday the Secretary for Economy and Finance, Lionel Leong Vai Tac (pictured). That is understood to be an important step for preparing for the rebid of the city’s gaming concession licences.

“We’ve said before that the awarding of the gaming concession contracts [when the current ones expire] will have to be done via a bidding process, and the related law needs to be amended as well [in preparation for a new tender]. We are now having an internal study on it [the preliminary proposal],” said Mr Leong in comments to local media on the sidelines of an event on Saturday.

The official however did not disclose any details of the preliminary proposal submitted to his office. He only noted that throughout the process of planning the arrangements for the city’s gaming concessions, the Macau government would “listen to social opinions and analyse them”. The concessions of the six current Macau operators expire on various dates in either 2020 or 2022, with the respective licences of SJM Holdings Ltd and MGM China Holdings Ltd set to expire in 2020.

Macau gaming law states that the licences of the existing holders can be extended for a maximum of up to five years from their original expiry dates. But once a gaming concession contract expires, any new concession would have to be granted via a public tender. In that sense, say gaming lawyers familiar with the matter, there is no such thing in the Macau context as a “concession renewal”.

Vice-chairman and chief executive at Macau casino operator SJM Holdings Ltd, Ambrose So Shu Fai, told reporters last week that the firm hoped to be granted a two-year extension on its current rights, to put it on the same 2022 starting line – for a potential rebid – as four of the other Macau operators.

Several gaming lawyers and scholars – in comments to GGRAsia – have suggested that Macau’s gaming law needs to be amended in order to account for the possibility of having more than six gaming licensees, as well as to put an end to the “sub-concession” regime used presently.

Sunday, July 22, 2018

Japan casinos could bring lower returns than expected: MS

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GGRAsia
Japan casinos could bring lower returns than expected: MS

Investment bank Morgan Stanley says Japan’s legalised casino industry could offer “lower returns than many expected”. That is due to the potential negative impact on casino revenue of some key regulations included in Japan’s Integrated Resorts (IR) Implementation Bill, passed into law on Friday evening during a plenary session of the upper house of the country’s parliament.

“Two of the key regulations (casino being only 3 percent of total gross floor area and 30 percent revenue tax, on top of consumption, real estate, and income taxes) mean lower returns than many expected,” said a Morgan Stanley note issued on Friday shortly after the IR Implementation Bill was passed by the Japanese parliament.

The report from the investment bank estimated that for a casino in the Japanese city of Osaka to “make a reasonable return of 14 percent (earnings before interest, taxation, depreciation and amortisation/total investment) on a US$8 billion investment” and a 15,000-square-metre (161,000 sq. feet) casino area, it would need to generate gross gaming revenue (GGR) of about US$4 billion – and a VIP and mass table yield of US$36,500 and US$8,500, respectively. “That’s much higher than Singapore,” noted the Morgan Stanley team.

The investment bank stated that Friday’s bill approval “has far-reaching implications for global gaming and related companies.”

It added: “On one hand, Macau could face competition from Japan for Chinese gamblers, on the other hand global gaming companies (and Japanese partners) could see upside to their valuation in anticipation of high ROIC [return on invested capital] similar to what we have seen in case of Macau, Singapore and [the] Philippines.”

A statute legalising the concept of Japanese casino gaming venues – the Integrated Resorts Promotion Bill – came into effect in December 2016. The second enabling bill – approved on Friday – clarified several key points regarding the country’s nascent industry including: an initial cap of three casino resorts nationwide; a 30 percent tax on casino GGR; and an entry levy of JPY6,000 (US$53) for Japanese citizens and residents wishing to enter such venues.

But the passage of the bill still leaves plenty of work to be done before a Japanese casino industry can be created. Not the least of it is the pitches to be made to central government by local authorities – in tandem with their respective private-sector partners – for the right to one of the first licences.

“We expect the first Japan casino to open by 2025 and the market size could peg at a range of US$11 billion and U$20 billion gaming revenue,” stated Morgan Stanley in Friday’s note, quoting previous research by the investment bank.

Will Cryptocurrency Big Shots Become Banks?

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Will Cryptocurrency Big Shots Become Banks?
Will Cryptocurrency Big Shots Become Banks?

When you stop and ponder the road of cryptocurrency development over the years, the rise of digital money to the heights of mainstream and beyond, as they began doing business that is measured in billions of dollars, leads to the inevitable.

All of those once small startups and businesses that seemed far-fetched back in the day are suddenly buying bank shares, prompting the question: do crytpo exchanges, market makers and blockchain innovators have it in them to transform into banks themselves?

The Value of Bitcoin

As Bitcoin.com analysts estimate, the current value of the cryptocurrency market stands at more than $294 billion. That sure is a big leap from the original small community that started it all almost ten years ago.

Even though there are those among leading financial experts who are urging, ‘get out while you can’, it is admittedly difficult to ignore such a huge global movement that, despite its ups and downs, has shown serious resilience.

As business gets bigger and more complex, some of the market makers and cryptocurrency companies are dealing with growing amounts of money. Some of them have begun acquiring bank shares or even trying to transform into banks themselves.

Still Going Strong

Coinbase, for instance, is one of the digital assets firms who are still going strong and doing well for themselves. They have over 20 million users and so far, more than $150 billion worth of cryptocurrencies have been traded via this route. That's why the company's officials begun having meetings with US regulators in early 2018 as they look for banking licenses.

The cooperation between these bodies is quite close and successful thus far, as Federal bankers realize that Coinbase could offer plenty of banking options.

One of the largest cryptocurrency exchanges in the world, Binance, has acquired a 5% stake in Founders Bank based in Malta, a small Mediterranean country that is on the path to becoming the world's leaders in crypto technology and iGaming hotspot.

This is the world's “first global community-owned bank,” as Silvio Schembri, Office of the Prime Minister of Malta's junior minister for financial services, digital economy and innovation has said. As of now, Binance and Founders Bank are opting-in for a EU license for full-on regulation.

The Role of Litecoin

Likewise, the Litecoin foundation has recently purchased 10% of stakes at WEG Bank AG from Germany. WEG Bank, with the help of Litecoin Foundation and Tokenpay will be offering cryptocurrency services to customers, as Litecoin will be also integrated with WEG Bank – something the German conglomerate agreed upon even though Litecoin's value has had a sharp and rather dramatic decline since its peak value in December 2017.

What are your two cents on these trends and developments? Does this mean that crypto assets are still alive and well? Or does becoming a bank present a way out for these firms should anything tragic befall the world of cryptocurrencies? Feel free to comment below…

Source:

“Powerful Cryptocurrency Firms on the Road Towards Becoming Banks”, Redman Jamie, bitcoin.com, July 18, 2018.

Saturday, July 21, 2018

Microgaming Prepares the Return of Agent Jane Blonde

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Microgaming Prepares the Return of Agent Jane Blonde
Microgaming Prepares the Return of Agent Jane Blonde

Big news for fans of slot sequels as Microgaming announces the imminent release of part of their legendary video slot series, Agent Jane Blonde, dubbed Agent Jane Blonde Returns!

The announcement was made at this year's iGB Live event in Amsterdam that took place this week. It has been stated that the driving force behind this project is the newly instated, Stormcraft Studios independent brand.

This will be Microgaming's second title created by Stormcraft Studios.

What You Can Expect

The original slot, a game of international intrigue and espionage, was developed and released in 2015 – ancient history by the standards of ever-changing technology and the iGaming industry.

Agent Jane Blonde Returns will be a five-reel, three-row, 15-payline game, making a comeback with some more stunning artwork, engaging gameplay and thrilling action. The game will feature retro, neon visuals stacked Wilds and a respin feature.

To emphasize the importance of this game's release, Microgaming's stand at iGB Live was fully branded with sneak-peaks of visuals from the upcoming title. Also, visitors of the stand were able to have a scoop of nine different ice-cream flavors – simulating a similar experience when presenting Fortunium early this year at ICE.

A Word from the CEO

Microgaming's Games Publisher, David Reynolds, had this to say about the game's release…

“Following the huge success of Fortunium, we are so excited for Stormcraft Studios’ next release with Agent Jane Blonde Returns. With stunning graphics and an atmospheric soundtrack that brings you into Agent Jane Blonde’s world of action and espionage, it’s sure to be a hit with both fans of the original and new players when it goes live.”

Most recently, Microgaming (in collaboration with Rabcat) released another Robin Hood-inspired slot game called Robin of Sherwood.

Source:

“Microgaming's lead heroine returns”, microgaming.co.uk, July 18, 2018.

Menopause: The Musical at Harrah's Las Vegas celebrates 5,000th performance

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Menopause: The Musical at Harrah's Las Vegas celebrates 5,000th performance
The landmark show was welcomed by Las Vegas celebrities and VIPs who walked the red carpet before the show, including The Bronx Wanderers, Katie Kenner (Sex Tips for Straight Women from a Gay Man), Tenors of Rock, cast members from The Miss Behave Gameshow and Clint Holmes.

Japan’s IR Bill passes into law, main work starts now

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GGRAsia
Japan’s IR Bill passes into law, main work starts now

Japan’s Integrated Resorts (IR) Implementation Bill passed into law on Friday evening after a plenary session of the upper house of the country’s parliament.

The passage of the second of two pieces of enabling legislation for establishing a domestic casino industry marked a victory for the government of Prime Minister Shinzo Abe. It had pledged to complete the process prior to the expiry on Sunday of the current – extended – ordinary session of parliament prior to the legislature’s summer break.

The approval of the bill also frustrated the efforts of some minority parties. According to GGRAsia’s information, such interests had on Thursday and Friday moved no-confidence motions in the upper chamber – the House of Councillors – in order to trigger plenary sessions of that body and divert effort away from a discussion of the bill in a house committee.

The idea of having casinos, ostensibly, is to stimulate growth in inbound tourism; to create new infrastructure for events, conferences and hotel space using private investment rather than the public sort; and to create an economic multiplier in some places aside from the major conurbations.

Commenting on the passage of the IR Implementation Bill, Jim Murren, chairman and chief executive of casino operator MGM Resorts International, said in a statement: “The process has been very deliberate and transparent. We appreciate the high level of social responsibility reflected throughout the process by creating one of the most comprehensive bills of its kind anywhere in the world.”

MGM Resorts, the parent of Macau casino firm MGM China Holdings Ltd, has declared itself a contender for a Japan casino licence. The U.S.-based company – like other casino operators – already has a full-time development team in Japan.

“Today’s passage allows us to advance our relationships with key stakeholders and together create a coalition of Japanese business partners who will collectively define a vision for a uniquely Japanese, world-class integrated resort,” added Mr Murren.

Japan’s casino liberalisation plan has been likened by some commentators to a fourth “arrow” supplementing Mr Abe’s “Three Arrows” economic policy, those being monetary easing, fiscal stimulus, and structural reforms.

Japan recorded a government debt equivalent to 253 percent of the country’s gross domestic product as of December 2017, an all-time high, according to data from the country’s Ministry of Finance. The nation’s low birth rate and ageing population mean that there is a shrinking base of taxpayers, while aggregate entitlements payable to economically-inactive citizens grow.

But according to a number of publicised surveys, there is no strong majority among Japanese in favour of casino liberalisation.

The passage of the bill still leaves plenty of work to be done before a Japanese casino industry can be created. Not the least of it is the pitches to be made to central government by local authorities – in tandem with their respective private-sector partners – for the right to one of the first licences.

A number of industry executives expect the first casino licences to be issued in around the year 2020, with the first resorts to open for operation in circa 2025.

The statute legalising the concept of Japanese casino gaming venues – the Integrated Resorts Promotion Bill – came into effect in December 2016. Reasons for the delay to the second enabling bill included a snap election called by Mr Abe in the autumn last year, as he sought a fresh mandate for a raft of reforms.

A separate piece of legislation related to the nascent casino industry – the Basic Bill on Gambling Addiction Countermeasures – was passed by parliament on July 6 this year.

Friday, July 20, 2018

Fall in Love With Mighty Aphrodite at Slots Capital

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Fall in Love With Mighty Aphrodite at Slots Capital
Fall in Love With Mighty Aphrodite at Slots Capital

Rival Gaming has made its latest foray into the realm of video slots with a neat little game called, Mighty Aphrodite (we're not sure if the name is partially inspired by the Woody Allen movie of the same name or it's just a remarkable coincidence).

What to Expect

This 5-line, 25-payline game set in dusk-lit heavens is all about the Greek goddess of love and other characters in Greek mythology, like Pegasus and cupid, looking to elevate you to cloud nine. It's easy to get enamored with this awesome game whose stunning looks only justify the belief that love and beauty are closely intertwined.

Some of the other high-value symbols you will encounter in the B2B developer and supplier’s  new title are…

olives, seashells, hearts, golden harps, medallions, temple of love, golden coin, wreath and a clay pot.

Beautiful Aphrodite herself is a Stacked Wild and she takes place of two vertically stacked icons on the reels, while Pegasus triggers an extra spins round, should three or more of these land on the reels. Cupids will occasionally shoot an arrow on the screen and activate some cool multipliers.

Slots Capital Celebrates the Launch

As a part of the game launch celebration, Slots Capital Casino is gifting their players with 20 extra spins with no deposit required!

An additional 50 extra spins will be made available after the player makes a deposit. The casino's official statement reads:

“For thousands of years, Aphrodite has been helping people find love. Now, with the help of her very own slots game and some attractive bonuses, Aphrodite can spread even more love among Slots Capital Casino players.”

This promotion is available at the Curacao-licensed site until Sunday, July 22. Use the bonus code, MIGHTY20.

There is a $180 max cash out, with 60 times rollover on winnings. An additional 50 spins will be available until July 31st, by using the code…

MIGHTY50 and this has no max cash out. The promo is available to all the players who have made a deposit in July.

Source:

“Summer Loving at Slots Capital with Free Spins on New Mighty Aphrodite Slot from Rival”, Slots Capital Newsletter, July 19, 2018.