Foreign casino operators are targetting the Cagayan Special Economic Zone and will soon land in the country.
The post International companies to land in the Philippines appeared first on Focus Gaming News.
Casino operator Caesars Entertainment Corp. (CEC) officially joined its rivals in the sports betting market derby, right on the heels of one Atlantic City casino that has started taking sports bets this week.
Bally’s Wild Wild West have started accepting sports bets on Monday morning, while its sister casino Harrah’s Resort will open its doors to punters on Wednesday, according to CEC. This makes the twin gambling facilities the third and fourth casinos to offer sports betting in Atlantic City.
Bally’s temporary sportsbook operation inside Wild Wild West reportedly has 30 leather chairs placed right in front of three large television screens and five smaller screens. Bally’s has converted its shuttered cashier windows to sports wagering windows. Harrah’s sports wagering space looks quite similar to Bally’s, although Harrah’s only has 28 leather chairs, six high-top tables and five screens for viewing.
CEC also plans to bring sports betting in Mississippi by mid-August through its casino properties, Horseshoe Tunica and Harrah’s Gulf Coast resorts.
The casino operator’s announcement came a day after its rival MGM declared it will create a $200 million sports betting and online gaming joint venture with UK-based GVC Holdings, one of the world’s largest bookmakers.
CEC has tapped gambling technology provider Scientific Games Corporation (Sci Games) to provide its OpenBet sportsbook platform in New Jersey and Mississippi. CEC President and Chief Executive Officer Mark Frissora described its partnership with Sci Games to be strategic since the casino operator also plans to roll out mobile sports betting throughout New Jersey and Mississippi.
Frissora pointed out that the recent U.S. Supreme Court decision to repeal the Professional and Amateur Sports Protection Act of 1992 allows CEC to expand its “sports betting digital and mobile offerings into new markets.”
One of the advantages that CEC have against its rivals in Atlantic City is its experience operating sportsbooks in Las Vegas, according to Frissora.
“We recognize that our customers expect exciting new experiences, which is why we will continue to offer new products through our mobile and digital platforms and inside our properties,” Frissora said in a statement.
The post Caesars races to cash in on NJ, Mississippi sports betting market appeared first on CalvinAyre.com.
European Gaming Media and Events, the leading media and boutique gaming events organizer in the CEE, Baltics and Balkans, is proud to announce Global Legal Group (GLG) as its latest strategic partner. The partnership will see a collaboration between the events segment of European Gaming and the International Comparative Legal Guide to: Gambling which covers common issues in gambling laws ...
The post European Gaming (EG) announces strategic partnership with Global Legal Group (GLG) appeared first on Casino News Today.
The companies signed an agreement for the Cache Creek Casino located in California.
The post EGT and Reel Games install in California appeared first on Focus Gaming News.
Not even the six-month closure of the idyllic, Philippine island holiday destination of Boracay has stopped Macau-based casino operator Galaxy Entertainment Group (GEG) from proceeding with its $500 million integrated resort project.
GMA News Online reported that the controversial multi-million dollar casino resort in Boracay is on track for a 2021 opening despite recent reiterations from the Philippine government that the popular island getaway will remain casino-free.
GEG’s local partner, Philippine-listed gambling operator Leisure and Resorts World Corp. (LRWC), pointed out that the six-month rehabilitation of Boracay has not affected its casino project in the island since they were able to finish what they needed to do prior to the closure of the island.
This included the purchase of 23-hectare lot in Barangay Manoc-Manoc, which was considered to be ‘alienable and disposable’ property, according to LRWC vice president for legal affairs Katrina Nepomuceno. Nepomuceno has not given a definite timeline for the actual construction of the brick-and-mortar facility in Boracay but she said that the original 2021 opening of the integrated resort is achievable.
“It is actually very helpful that the DENR is doing all of these the investigations, testing… We are actually getting feedback from the government about what’s in the island, identifying where the problematic areas are. It is actually helping us to build our plans. So hopefully when it reopens we can move along,” she told local reporters at the sidelines of the company’s annual stockholders’ meeting on Friday.
However, the LRWC executive’s statement quickly contradicted by Philippine Presidential spokesman Harry Roque, who insisted on Monday that President Rodrigo Duterte would never allow a casino to be built in Boracay. Roque warned that business firms shouldn’t test “the political will of the President on the issue of casinos in Boracay,” reminding both GEG and LRWC that the license that state regulator Philippine Amusement and Gaming Corporation (PAGCOR) issued to them was only a provisional one.
“Noting that the provisional license is not a license itself. It is conditional, it is provisional. It is subject to the happening of conditions which will never be fulfilled because the President has said he will not allow it,” Roque said, according to The Manila Bulletin.
In March, PAGCOR approved the construction of GEG’s integrated resort on Boracay after granting the group a provisional gaming license. GEG announced that it planned to start the construction of its multi-million dollar casino resort by 2019 and expected to be completed in three years’ time.
If allowed to proceed, Galaxy’s casino project would supposedly generate $100 million in revenue annually for the company.
The post Galaxy’s $500M Boracay casino on track for 2021 opening appeared first on CalvinAyre.com.
The Philippines is about to see another influx of casinos via its freeport zone authority, the Cagayan Economic Zone Authority (CEZA).
Secretary Raul L. Lambino, administrator and chief executive of CEZA, confirmed last week that four “big” integrated resort and casino operators from Hong Kong, Malaysia, Japan and South Korea have submitted letters of intent to establish integrated resorts in the northern part of the Philippines, the Manila Bulletin reported.
Of the four gaming companies, the Freeport authority has signed a memorandum of understanding with “a big Chinese proponent,” which will invest $500 million to develop Fuga Island into an integrated resort and casino, according to CEZA Senior Deputy Administrator Raymundo Roquero. Fuga Island is the second northernmost island group of the Philippines and falls under CEZA jurisdiction.
Plans for the 10,000-hectare island include the construction of a casino, a hotel, a theme park, theatres, and a $1-million peCr unit villa, among others. CEZA officials said the Chinese investor wants to replicate South Korea’s Jeju Island development in Fuga.
The remaining three gaming firms are planning to develop hotel and casino projects within the 55,000-hectare CEZA property, according to freeport authority. The companies are reportedly looking at making initial investments of $100 million each.
“They (the four companies) will start with a hotel and casino, then they will expand to theme parks. They will also build high-end villas, so their investments might reach $500 million,” Roquero said, according to the Manila Times.
CEZA, the former top online gambling licensing body of the Philippines, has diversified into casinos and cryptocurrencies after Philippine President Rodrigo Duterte clipped its licensing power in 2017. Previously, many CEZA-licensed operators chose to base their business process outsourcing (BPO) and live dealer operations in urban areas. However, that came to an end when state gambling regulator Philippine Amusement and Gaming Corporation (PAGCOR) ordered all Philippine-based online operators to get a new Philippine Offshore Gaming Operator (POGO) license.
With its recent revelation, CEZA could draw the ire of PAGCOR given that the state regulator has issued a moratorium blocking the establishment of new integrated resorts in the country. Lambino, however, pointed out that CEZA is an independent body with the authority to issue operating licenses to any investor, including gaming companies.
The post 4 casino operators bet big on the Philippines via CEZA appeared first on CalvinAyre.com.
Feel the power of the four seas in Dragon Kings slot, the new, feature-packed, video game from Betsoft Gaming. A remix of an ancient legend, Dragon Kings brings Chinese mythology to life with a crisp, modern aesthetic Asian-inspired music, and a collection of special features. Offering tiered, progressive jackpots and free spins, Dragon Kings slot has many unique features lying ...
The post Betsoft Gaming releases Dragon Kings slot appeared first on Casino News Today.
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 .
Hong Kong-listed casino operator Landing International Development Ltd. (LIDL) may have to wait five more years before it starts its casino operations in Manila.
State-run Philippine Amusement and Gaming Corporation (PAGCOR) confirmed on Thursday that it recently granted LIDL a provisional license for the construction and operation of its $1.5 billion integrated resort in Manila.
However, PAGCOR said that LIDL may only start its casino operations by March 2022 due to a standing 5-year moratorium on new casinos in the state capital. The existing integrated resorts in Manila had requested a casino moratorium in 2017 to allow the market the space to mature.
There are about 18 casinos in Metro Manila, 3 of which are operated and owned by PAGCOR.
Entertainment City currently boasts three active resort casinos – Solaire Resort & Casino, City of Dreams Manila and Okada Manila – while Travellers International’s West Side City Resorts World is planning a 2020 launch.
“In the Manila area, we listened to our investors. They gave us a position paper to give breathing space for the market space to mature in the NCR (National Capital Region) so we listened,” PAGCOR chair Andrea Domingo explained.
In the meantime, PAGCOR told LIDL to “comply with all existing limitations and ensure the continuing validity of all the requirements” and to complete its proposed Nayong Pilipino Theme Park before the regulator issues “the authority to commence its casino operations.”
LIDL, which operates the Jeju Shinhwa World casino resort on South Korea’s Jeju island, has tied up with the Nayong Pilipino Foundation (“NPF”) and the Philippine Department of Tourism (“DOT”) for the development of the multi-billion dollar integrated resort.
According to its proposal, LIDL intends to develop a family-oriented resort, which consists of a casino, an indoor cultural theme park featuring the Philippines’ rich history, culture and heritage, an indoor waterpark, Asia’s first indoor movie-based theme park, a world-class state-of-the-art convention center, luxury hotels, and international retail and dining.
On Wednesday, LIDL chair Dr. Yang Zhihui thanked PAGCOR for granting the project a provisional license, which is valid for 15 years.
The post Landing Int’l casino operations to start in March 2022 – PAGCOR appeared first on CalvinAyre.com.
Washington State could become the host of a new casino operated by local Tribe, Puyallup.
The post Puyallup Tribe would open a casino in Washington appeared first on Focus Gaming News.
Now that the Japanese government has approved the country’s Integrated Resort Implementation Bill (IRIB), casino operators are going to start pushing and shoving, hoping to gain a better position against the their competition. While some companies may feel that a soft approach is best to improve its status, MGM Resorts International went directly for the throat.
MGM Chairman and CEO James Murren, in a conversation with Japanese media this past Wednesday, said that the company can make a “full contribution” to Japan only if it is allowed to operate in a major urban area. Murren specifically said that MGM wants Osaka. In other words, if MGM can’t have Osaka, they don’t want to be in Japan.
Murren, who was in Osaka to participate in the Tenjin Festival, continued to target Osaka for the operations. He told the Sankei Shinbun news outlet that “Osaka is the top” and declared to a local TV station, “I think Osaka is the perfect place for an IR.”
According to Murren, Osaka has a number of benefits, especially with its infrastructure. He said, “Kansai International Airport and Kobe Airport are nearby, and the Shinkansen and local railway network is developing.” He also reiterated that the company is prepared to spend around $9 billion to build an IR in the country.
There is still no word on when the license bidding process will begin. However, many expect it to start, at the earliest, toward the end of next year or into 2020. There are still several fine points being worked out now that the bill has been approved before the licensing process gets underway. Once it does, there will still be a significant amount of time before casino action is seen, with most resorts requiring around five years to be built.
Casinos in Japan are expected to bring in a windfall of cash. Analysts have predicted that the gross gaming revenue could reach as much as $40 billion annually. Casinos, according to the IRIB language, will be on the hook for 30% in taxes to the government, providing a nice source of additional revenue to the country.
The post MGM wants a piece of Osaka appeared first on CalvinAyre.com.
Casino operator Boyd Gaming enjoyed “significant progress” in executing its plan for world – or at least regional US market – domination in the second quarter of 2018.
Figures released Thursday show the Las Vegas-based Boyd generated revenue of $618.8m in the three months ending June 30, up 2.1% from the same period last year. Operating income was up 7.5% to $96.2m while net income dropped one-fifth to $38.9m.
It should be noted that Q2 2017 enjoyed a $21m bump from Boyd’s former 50% stake in Atlantic City’s market-leading Borgata casino, which the company sold to its Borgata partner MGM Resorts. Going purely on income from continuing operations, Boyd’s bottom line was up nearly 40%.
All three of Boyd’s business segments enjoyed mild revenue gains in Q2, including the Las Vegas Locals market, which saw revenue inch up to $220m but adjusted earnings rose 11% to $70.2m thanks to the highest Q2 operating margin since 2005. The Downtown Las Vegas segment reported revenue of $61.2m while earnings rose 8% to $13.5m.
Boyd’s mainstay Midwest & South segment reported revenue up 2.3% to $335.6m while earnings rose 5.1% to $93.7m. The segment includes one month’s worth of contributions from Lattner Entertainment, the Illinois-based video gaming terminal business that Boyd acquired in May. The addition helped the segment post its highest operating margins in 16 years.
Looking ahead, Boyd boosted its full-year 2018 adjusted earnings guidance by $15m to $633m. This includes the Lattner business but doesn’t include the four Pinnacle Entertainment properties or the Valley Forge Casino Resort in Pennsylvania that Boyd agreed to acquire late last year.
Boyd’s expansion into Pennsylvania has the company “closely evaluating” the potential of the state’s legal sports betting market. Boyd also operates two properties in Mississippi, which expects to launch its wagering market as early as next week. Boyd CEO Keith Smith (pictured) said the company was “actively preparing” for the launch of legal betting as opportunities arise in the states in which Boyd has a presence.
The post Boyd Gaming hails “significant progress” in plan to make money appeared first on CalvinAyre.com.
According to Union Gaming, Delta Corp’s financial performance “continues to make the case” for moving riverboat casinos to land.
The post Promising future for Delta in Goa appeared first on Focus Gaming News.
KamaGames, the largest European social mobile poker operator, today announced its half year results for H1 2018. The results show continued growth and success by every metric with DAU (Daily Active Users) increasing 2-fold in H1 2018 compared to H1 2017 and gross revenue growing by 53% in the same period from an already strong base of $57.5 million as ...
The post KamaGames Reports More Strong Results For H1 2018 appeared first on Casino News Today.
A report in the Marianas Variety newspaper has indicated that Saipan could potentially be a target for a second casino project following the mammoth-sized Imperial Palace. With a little bit of luck, and some prudent planning, the casino development will hopefully be a lot smoother than what has been seen with Imperial Pacific.
Yusho Oki of Japan-based Paraisu Corp., apparently met with Saipan Mayor David Apatang. Apatang said that the businessman was somewhat elusive on what his plans are, but added that he will be making a return visit in August to discuss the possibilities in more detail. Oki did specify, however, that he was considering a casino in Saipan and the neighboring island of Rota, about 46 miles north of Guam.
Apatang told the newspaper that Oki is also possibly interested in creating business relationships between the American territory and select cities in Japan. The idea is to boost tourism while highlighting cultural and student exchange programs. The mayor added, “That’s why it’s important to keep our island clean so visitors will keep on coming.”
If the offering is legitimate (a cursory search could not find any records of Paraisu Corp. in Japan) and a second casino comes to Saipan, developers need to be prepared to have the project in order. Imperial Palace construction has been fraught with numerous delays, lawsuits, bribe allegations and more. Although it was originally expected to open in August, the casino developer, Imperial Pacific International, has requested an extension that would possibly see the operations begin to open in December.
In order to try and make up for lost time, Imperial Pacific has proposed putting on a night crew to keep construction going virtually around the clock. It has also brought in additional personnel from the Philippines, 600 in total, to assist with the construction and to meet contractual employment requirements.
Once open, the Imperial Palace will be a true luxury integrated resort, providing more than 200 gaming tables, around 350 slot machines and a 14-story hotel. A beach and a night club are also planned, and the resort will offer a variety of gastronomical options, including Western and Asian upscale and casual restaurants.
The post Saipan could see second casino appeared first on CalvinAyre.com.
Casino operator Crown Resorts Ltd. is fighting tooth and nail to block the AUD362 million (US$270 million) tax bill that the Australian government wants to levy.
Reuters reported that Crown Resorts is disputing the multi-million tax bill that the Australian Taxation Office (ATO) issued, saying the amount is 5 percent more than its normalized 2017 net profit.
An Australian court has scheduled a hearing of Crown’s tax contentions on August 31.
Records showed that Crown’s tax woes stemmed from its acquisition of Vegas casino operator Cannery Casino Resorts for US$1.75 billion and other North American investments in 2007. The Cannery portfolio included four casinos in Nevada and western Pennsylvania.
Unfortunately, the then James Packer-led casino operator failed to expand its footprint in the U.S. due to the global financial crisis. Instead of profits, Crown was forced into billions of dollars of write-downs.
Crown paid more than AUD640 million ($474.1 million) to the Australian government in 2015, which the company said was equivalent to almost two-thirds of its Australian normalized profit before tax.
The ATO is chasing after millions of Australian dollars in income tax—including interest—for the 2009 to 2014 financial years.
The Australian-listed gambling firm questioned the tax bill but the ATO dismissed their plea in May 2018. Both Crown and ATO did not issue a comment on the issue, according to the news outlet.
Crown seemingly can’t catch a break from bad news for three years now, including Packer’s complete retreat from Asia and other global expansion plans as a result of the arrests of Crown staffers in China.
Australian billionaire Packer thought that it would be okay to get back to Crown’s board when he decided to wrap up his overseas ventures—which he called a failure—and focus on his thriving Australian business. But back home, Packer found himself dealing with pokies tampering allegations and real estate property doldrums. The casino mogul left the board barely three-months after rejoining it, citing personal reasons.
The post Crown Resorts drags Aussie taxman to court over $270M tax bill appeared first on CalvinAyre.com.
The Genting Group recently missed out on an opportunity to expand into Spain when its Genting UK subsidiary lost a bid for a new casino planned for Andorra. However, it may not have necessarily been a bad thing. According to at least one brokerage, the company could be a favorite to be awarded a gambling license in Japan.
Maybank Kim Eng Securities said last Sunday that Genting, through its Genting Singapore subsidiary, “stands a good chance to win a licence thanks to its responsible gaming experience and solid net cash position.” It added that lawmakers in Japan repeatedly refer to measures taken by casinos in Singapore to ensure social responsibility. As one of the most successful operators in the country, Genting Singapore has a distinct advantage for a Japanese license.
Samuel Yin Shao Yang, the Maybank analyst who provided the report, pointed out that Genting Singapore, which operates Resorts World Sentosa, has cash reserves of more than US$2.2 billion. This would go a long way for any casino development in Japan, giving it a great amount of strength in the bidding process.
After an intense battle over gambling in Japan that forced the legislative session to be extended, the country finally approved the Integrated Resort Implementation Bill last Friday. The bill authorizes three large-scale gaming operations to be built initially, with the possibility of more added following a review after the first seven years of operations.
The Japanese government will more than likely begin to request development bids next year, but the first licenses won’t be issued until 2020. Based on development times for the projects, it’s possible that the first casino won’t be ready until 2025 at the earliest. Casino operators will have to limit gaming floor space at no more than 3% of the overall footprint and must pay a tax of 30% on all gaming revenue.
According to some analysts, the gross gaming revenue (GGR) for Japanese casinos could range anywhere from US$6 billion to US$40 billion each year. If it reaches the high end of the spectrum, it would be on par with casinos in Macau, whose 2017 GGR was around US$33 billion. If it’s at the low end, it would be slightly better than those in Singapore, which reported around US$4.6 billion in GGR in 2017.
The post Genting Singapore could be one of first to win Japanese gaming license appeared first on CalvinAyre.com.
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 .
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 .
For years, the term “free bonus” was thrown around by leading online casinos. While it seldom delivered what was promised, it certainly proved to be an effective marketing tool. However, in 2018, with regulatory measures attempting to stamp out this way of attracting players, we’ve seen countless casinos turn away from this once common marketing practice. Now considered to be ...
The post Online Casinos & The Future of Welcome Bonuses appeared first on Casino News Today.
Within the realm of iGaming, live casino play remains as powerful and attractive as ever. No mainstream online casino is complete without it, which probably explains why the company’s behind the live casino experience are always looking to the future. Making sure that it’s one step ahead of the game, Playtech and Ladbrokes Coral is enhancing its live casino product ...
The post appeared first on Casino News Today.
Industry experts Rummy Pandit and Bob Ambrose offer their explanations as to why Hard Rock Hotel & Casino Atlantic City and Ocean Resort Casino are poised for success after strong opening-weekend revenue numbers.
The post Looking At The Long-Term Roles For Hard Rock And Ocean Resort In AC appeared first on .
An unknown number of Chinese scammers are reportedly picking the pockets of Spanish slot machine operators through the use of altered €5 bills.
On Thursday, Spanish newspaper El Mundo reported that police in Madrid had detained “several citizens of Chinese nationality” for their apparent involvement in a scam that uses doctored €5m notes to trick slot machines into spitting out €50 notes in return.
Apparently, the scam involves cutting a €5 note in half vertically, then taping the two halves together but leaving a small two- or three-millimeter gap in between. The doctored bill is then inserted into the currency slot of an electronic gambling machine, which spits the note back out as unacceptable.
The perpetrators then reinsert the doctored bill multiple times, after which, for reasons that aren’t particularly clear from El Mundo’s article, the machine’s account balance suddenly changes to read €50. The scammers can then request a withdrawal of the full amount, leading the clueless machine to spit out a €50 note, after which the scammers presumably move on to their next hapless electronic victim.
Madrid police have alerted bar and gambling hall operators in the area to check their machines for the doctored notes, and to be on the lookout for other potential scammers that may or may not be connected with the individuals already detained.
It’s unclear at this point whether the scam works on a particular make or model of gambling device, or whether all machines are similarly liable to make it illicitly rain. Among the slots depicted in El Mundo’s video are Aruze Gaming’s Ultra Stack Feature Panda and Merkur’s Tropical Heat.
The post Scammers target Spanish slot machines with altered €5 bills appeared first on CalvinAyre.com.
Despite the legal battle around the facility, the tribe is considering opening the casino in order to bring revenue.
The post Ponca Tribe could open new casino appeared first on Focus Gaming News.
Hard Rock International (HRI) keeps changing its tune. It opened a new hotel and casino in Atlantic City less than three weeks ago, and is now crossing the pond with its eyes on Ireland. The company said in a press release this past Tuesday that it is looking to build a new venue in Dublin with the help of a local hotel operator.
The boutique hotel is expected to have 120 rooms and would be built in the heart of the city. It will offer 24-hour room service, live music, an all-day restaurant and a cocktail bar. The Hard Rock Hotel Dublin is to be a four-star operation born of a partnership with hotel operator Tifco Limited, and HRI indicated that it expects to have the hotel completed by the end of 2020.
HRI’s senior VP and Head of Global Hotel Development, Todd Hricko, said, “Ireland has always been a place close to our hearts, and it only seems right to open a Hard Rock Hotel in Dublin, given the city’s musical roots. This is an exciting opportunity to extend our presence in Europe and elevate the one-of-a-kind offering at Hard Rock Hotels to the next level.”
According to the press release, the project will be built across two structures. The first is an existing property that was built at the beginning of the 20th century. It was initially known as the Exchange Buildings and is currently the Parliament Hotel. This will retain its original red brick façade, which will be completely restored, but the interior will go under a complete makeover. It will offer a “unique music-inspired city escape with priceless memorabilia adorning the interior of the property.”
The second location is the Fashion House Building, located adjacent to the Parliament. The Fashion House is going to be rebuilt from the ground up. The new structure will offer a contemporary atmosphere, with a glass link bridge connecting it to the Parliament building.
Enda O’Meara, Tifco Ltd. CEO, is looking forward to the project. He said, “Dublin’s vibrant cultural scene makes it one of the hottest European cities to visit, attracting over 5.5 million overseas visitors annually. Hard Rock Hotel is an iconic, global brand that will be bringing something very different in its own distinctive style to this vibrant part of the capital city…The hotel’s custom design based around the existing handsome early 20th century building will be unique, modern and sophisticated, offering upscale 4-star luxury with a standalone F&B proposition that we plan to put on the map. Hard Rock Hotel Dublin will be the place to see and be seen with live music nightly, excellent food and cocktails, and authentic Irish service.”
HRI isn’t done with their expansion plans yet. The company is said to be involved in a project in Sacramento, CA that will see a build a mega-resort there through a partnership with the Enterprise Rancheria Indian tribe. It is also expected to try for a casino license in Japan, if the country approves its integrated resort bill within the next few days.
The post Hard Rock set to join Dublin’s landscape appeared first on CalvinAyre.com.
Mayor Takashi Kawamyra said that he favours an IR bid for the city and said he believes “it would be a good thing for Nagoya to raise its hand.”
The post Nagoya to get involved in IR conversation appeared first on Focus Gaming News.
Gambling-backed political groups have emerged recently in Florida with one simple goal—to block a proposed state constitutional amendment requiring voters’ approval of gambling expansion.
Florida Politics reported that political committees Citizens for the Truth About Amendment 3 (Amendment 3) and Vote NO on 3 (Vote NO) filed their respective registrations to fend off the initiative that could limit gambling expansion in the state. These groups were bankrolled by gambling operators, according to the report.
Isadore “Izzy” Havenick, whose family operates Magic City Casino in Miami and Naples-Fort Myers Greyhound Racing & Poker in Bonita Springs, is the chairman of political group Vote NO. Amendment 3 is chaired by Dan Adkins, the longtime head of Hallandale Beach’s former Mardi Gras Casino and Race Track.
Other details about the newly-formed groups, including their formation paperwork and initial campaign finance information, weren’t available yet on the state’s website.
In January, anti-gambling expansion group Voters in Charge successfully gathered more than 766,200 petition signatures to get a proposed constitutional amendment included on November’s election ballot known as ‘Amendment 3.’
The Seminole Tribe of Florida, which operates multiple Florida casinos, supported the ‘Voter Control of Gambling Amendment’ aimed at giving voters the “exclusive right to decide whether to authorize casino gambling.” The Division of Elections website showed that Disney Worldwide Services and the Seminoles have contributed a total of $17.5 million to the initiative since late 2015.
Other operators, however, warned that the constitutional amendment would only hamper the growth of Florida’s gambling industry since the measure required gambling expansion to garner the approval of 60 percent of state residents as opposed to the legislature calling the shots.
“The pari-mutuels and the ancillary businesses that work with us provide a lot of jobs and tax revenue to the state and to local communities. We have to defend ourselves,” Havenick told the news outlet.
The post New political groups emerge to block Florida gambling-control amendment appeared first on CalvinAyre.com.
According to Delta State Holdings managing partner David Bonnet, international companies won’t hold the majority of Japan’s first IRs.
The post Foreign operators to take minority stakes in Japan appeared first on Focus Gaming News.
Dragon Corp. had a great idea—build a floating casino off of Macau that would be operated by the blockchain. However, the company hired to build the project, Norway’s Brova Idea, backed out last November over changes in contracts and payment delays. Now, Dragon Corp. has begun playing the blame game, claiming Brova was the reason why the project failed.
Lawyers for Dragon Corp. provided a statement to the Macau News Agency (MNA) saying that Brova didn’t live up to expectations and failed to secure necessary funding for the project. Dragon further asserted that Brova’s CEO, Milo Andric, began to falter at the end of last year. According to Dragon, Andric began to demand upfront payments even though he could not provide evidence that 80% of the project’s financing was in place, a stipulation found in the contract.
Chakrit Ahmad, CEO for Dragon Corp., told the MNA, “He demanded cash upfront. We pushed for Escrow or Bank Guarantee and the escrow or Bank Guarantee would have been released once the financing 80 percent was secured according to his promise.” He also denied claims put forth by Andric that Dragon Corp. never fully intended to launch a floating casino, saying that he had sent an investigative group to Norway to conduct due diligence, and had invited Andric to Hong Kong on an all-expense paid trip.
Dragon Corp. had reportedly proposed a $300-million casino called the Dragon Pearl, which would be constructed in the waters off of Macau. It said that the casino would operate using its own cryptocurrency, the Dragon Coin, to compete against junket operators. Dragon Corp. held a crowdsale in 2017 to raise funds for the project, reportedly receiving over $500 million in investment money.
In light of the setbacks, Ahmad has said that Dragon Corp. will still push forward on the construction of the casino, but said that it may become a land-based casino instead of a floating one. However, he might want to reconsider using cryptocurrency. Paulo Martins Chan, the director of Macau’s Gaming Inspection and Coordination Bureau, stated this past May that there are no plans to allow cryptocurrency transactions by licensed gaming operators in the city state.
The post Dragon Corp. on failed floating casino: It’s not our fault appeared first on CalvinAyre.com.
