Master Gambling Bonuses

Friday, April 20, 2018

Singapore Needs Greater Consolidation of Casino Regulators, Says Josephine Teo

5:57 PM 0
Casino News Daily
Singapore Needs Greater Consolidation of Casino Regulators, Says Josephine Teo

Josephine Teo, the Second Minister for Manpower and Home Affairs of Singapore, said that greater consolidation of the functions of casino regulatory authorities should be considered, especially at a time when the country’s gambling landscape has been quite complex.

Today, Ms. Teo took part in the annual Workplan Seminar of the Casino Regulatory Authority seminar that was held at Biopolis in Buano Vista. She highlighted the fact that currently, different regulations and agencies are set to control the gambling products offered in the country, such as casinos, private clubs’ fruit machines as well as online gambling. The Second Minister for Manpower and Home Affairs also gave her assessment for the approach, saying that such partial strategy and measures would hardly be sustainable or suitable enough in order for the constantly increasing difficulties related to the existing gambling landscape.

The seminar, at which Ms. Teo was present, was aimed at outlining the history of the agency and providing better perspective of the future challenges it is expected to face. It was held as an one-day event in conjunction with the 10th anniversary of the Casino Regulatory Authority.

Singapore Gambling Sector to Face Further Challenges

Increasing regional competition was pointed as one of the most serious challenges posed to Singapore casinos. Ms. Teo also predicted that competition for tourism revenues is to become even stronger, with a lot of jurisdictions keeping their eyes on the Singapore integrated resort (IR) concept. According to the Second Minister, the local integrated resorts would face some difficulties to stay ahead of competition.

Singapore is currently home to two integrated casino resorts. The first one, Resorts World Sentosa, is run by Genting Singapore Plc, while the second one, Marina Bay Sands, is operated by a division of Las Vegas Sands Corp. Integrated resorts, however, are not a special trademark of Singapore only, as other jurisdictions have been aimed at adding IRs to their gambling industries as well. Japan, for example, is slowly but surely approaching a regulated casino industry that is to feature casinos as part of larger hotel, gaming and entertainment complexes.

Technological disruption, on the other hand, has been outlined as another major challenge to be faced by the gambling sector in Singapore. New game types, new payment methods as well as new gaming machines are constantly added, which basically means that local casino regulatory authorities need to review their methods and establish qualitative control to adequately face the latest developments of the industry. According to Ms. Teo, regulations could and need to evolve in order to allow a more coherent system to be set and to maintain the balance between efficient regulation and keeping the market open for innovations.

For some time now, the Ministry of Home Affairs of Singapore has been preparing for certain development, with the competent authorities being studying the wider gambling regulatory framework in the country. Ms. Teo urged the Casino Regulatory Authority to put more efforts into building up capabilities, stamina, new and more effective strategies and integrity in order to adapt to the new demands of the local market.

The post Singapore Needs Greater Consolidation of Casino Regulators, Says Josephine Teo appeared first on Casino News Daily.

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MMCT faces hurdle for its casino in Connecticut

National Indian Gaming Association chairman kicks-off Indian Gaming Tradeshow and Convention in Las Vegas

5:55 AM 0
Casino City Times
National Indian Gaming Association chairman kicks-off Indian Gaming Tradeshow and Convention in Las Vegas
NIGA Chairman Ernie Stevens, Jr. welcomed attendees, tribal leadership, gaming professionals and industry leaders to network and recognize dignitaries and special guests.
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Canberra Casino Owners Claim ACT Government Kept Quiet about Pokies Legislation Changes

12:12 AM 0
Casino News Daily
Canberra Casino Owners Claim ACT Government Kept Quiet about Pokies Legislation Changes

Aquis Entertainment Group, which currently owns Canberra Casino, made claims that the Australian Capital Territory (ACT) Government kept the company uninformed for almost a year and a half about the details of its legislation set to greenlight poker machines at the Canberra Casino.

Jessica Mellor, who is the Chief Executive Officer of Aquis, released a statement to the stock exchange, following the Government’s decision to provide the company with a month-long period to confirm its further plans for the Canberra Casino. As Casino News Daily reported, the casino owner was given until May 14th to submit a final proposal for the redevelopment of Canberra Casino.

The first bid made by Hong Kong mogul Tony Fung majority-owned Aquis in 2015 amounted to A$330 million, with the company seeking permission to operate 500 poker machines on local premises. The negotiations, however, failed to reach a compromise for several years, fueling the uncertainty about the redevelopment project’s fate. Then, in 2017 an agreement was reached between the Australian Greens and the Labor Party, under which legislation could allow up to 200 pokies in the redeveloped Canberra Casino. Moreover, 60 electronic table games could also be added to the casino offerings under certain regulatory rules.

A few months after the legislation was officially rolled out, Aquis Entertainment was given some time to make an update on its unsolicited bid in a month. Gordon Ramsay, Attorney General, commented on the matter at the time when the announcement was made, saying that the casino expansion was important part of the Government’s plans to reduce the poker machines in the Australian Capital Territory from about 5,000 to 4,000 over the next couple of years.

Aquis Would Have to Consider the Redevelopment Again

As mentioned above, the Chief Executive Officer of Aquis claimed that the company did not get a response from the Government detailing it about the legislation update for 17 months after the case was lodged in June 2016.

Still, Ms. Mellor pledged that the Canberra Casino owner is to respond to the Government’s request within the timeframe provided, but she explained that the company would have to undertake a thorough consideration on the matter in order to assess the potential impact of such a step under stricter regulatory rules. Aquis’ CEO further shared that the company remains willing to develop an integrated resort in Canberra and said it would work in collaboration with the Government in order to achieve its goals.

In case that Aquis Entertainment goes on with its bid to add 200 pokies as part of Canberra Casino redevelopment, it would be forced to operate under stricter regulatory rules. The company would have to purchase 300 poker machine operating licenses, despite the fact it would lose 100 of them. Also, a maximum bet limit of A$2 is to be allowed at the poker machines.

The post Canberra Casino Owners Claim ACT Government Kept Quiet about Pokies Legislation Changes appeared first on Casino News Daily.

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Thursday, April 19, 2018

Monmouth Park Racetrack anxiously awaiting PASPA decision

6:09 PM 0
World Casino News
Monmouth Park Racetrack anxiously awaiting PASPA decision

In New Jersey, Monmouth Park Racetrack is reportedly anxiously waiting to hear whether the United States Supreme Court will overturn the existing Professional and Amateur Sports Protection Act (PASPA) so that it may offer legalized sportsbetting. According to a Tuesday report from the Asbury Park Press newspaper, horses are due to start arriving at the […]
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Lights FC to participate in 2018 US Open Cup

11:45 AM 0
Casino City Times
Lights FC to participate in 2018 US Open Cup
The Las Vegas Lights FC will play on 16 May at 7:30 p.m.
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Betgenius appoints Alonso Jibaja to lead LatAm expansion

6:11 AM 0
Casino City Times
Betgenius appoints Alonso Jibaja to lead LatAm expansion
Jibaja brings over five years of experience in the sports betting and iGaming sector, along with an in-depth understanding of the Latin American market and local operator requirements.
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Wednesday, April 18, 2018

TWiG: US sports betting and the British invasion

11:57 PM 0
Casino City Times
TWiG: US sports betting and the British invasion
We're on the verge of regulated sports betting in America. And British bookmaker William Hill has been preparing for this since 2012.
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