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DOJ and FinCEN Wag Fingers at Casinos Over Bank Secrecy Act Violations

casinos-fincen-doj-bank-secrecy-act

Casinos, you’ve been warned. During this week’s Casino Essentials’ 9th Annual AML Conference in Las Vegas, the Department of Justice (DOJ) and Financial Crimes Enforcement Network (FinCEN) issued a stern warning to commercial institutions that knowingly disobey banking laws. “Casinos and card clubs often provide numerous financial services to their customers, including check cashing, currency…Read More

The Football Pools Sold for Nearly $130 Million to Sportingbet Founder

The Football Pools Sportech Sportingbet

The Football Pools are being sold to private equity firm Burlywood Capital for £97.25 million ($129.4 million). The self-proclaimed oldest soccer sportsbetting house in the world, The Football Pools were first launched 93 years ago in 1923. The operation once claimed to have 10 million customers, but today that number is around just 300,000. On…Read More

Arkansas Legislators Rally Against Casino Referendum

Arkansas casino ballot opposed by 40 lawmakers lead by Rep Greg Leding

Arkansas’ push to legalize casinos faces opposition from a bipartisan group of 40 state lawmakers, many of whom spoke out against the proposal at a news conference this week. State residents are due to vote on the question of whether to legalize casino gaming, thanks to the efforts of the Arkansas Winning Initiative (AWI), which…Read More

Pro-New Jersey Casino Expansion Ad Highlights “Financial Cost” of Referendum Vote

Paul Fireman supports New Jersey casino expansion

Supporters of New Jersey’s northern casino expansion proposal have launched a new TV ad campaign emphasizing the billions of dollars in potential revenue lost to the casino expansion of neighboring states. It highlights the resulting loss of funding for programs aimed at helping senior citizens and the disabled. OUR Turn NJ, the public issue advocacy group…Read More

Parisian Macau Casino Resort Opens Tonight

Parisian Macao opening night tonight

Sheldon Adelson’s lavish $2.7 billion casino resort on Macau’s Cotai Strip, the Parisian Macau, opens tonight, complete with 3,000 rooms, hundreds of shops, a theater, a water park and an obligatory half-sized Eiffel Tower replica. Around 500 journalists descended on the gambling hub for the opening night, most of them from publications based in mainland…Read More

NCAA Moves Seven Championships From North Carolina Over “Civil Rights Protections”

NCAA North Carolina bathroom law Mark Emmert

The NCAA is moving seven national championship events from North Carolina due to the state’s law that mandates persons use public restroom facilities that correspond with the sex that’s listed on their birth certificates. North Carolina’s House Bill 2, commonly known as the “Public Facilities Privacy & Security Act,” was passed in the state legislature…Read More

Maryland Casinos Post Ninth Straight Monthly Revenue Gain

Maryland casinos August revenue

Maryland casinos are at it again. For the ninth straight month, the state’s five casinos posted a gross gaming revenue increase and topped $100 million in total income for the fourth time in the last five months. The casinos generated a combined $100.3 million in proceeds from slot machines and table games, a nearly four…Read More

Sheldon Adelson Still Targeting South Korea for Next Casino

Sheldon Adelson Las Vegas Sands South Korea

Sheldon Adelson still has his eyes set on the untapped market of Busan, South Korea. The Las Vegas Sands Chairman remains rather bearish on the US gambling sector, but the 83-year-old billionaire is bullish on the international casino market. Outside of his Venetian and Palazzo casinos in Las Vegas and the Sands Bethlehem in Pennsylvania,…Read More

Caesars to Launch Skill-Based Gambling Next Month

Caesars to debut skill gaming

Caesars Entertainment may become the first gaming company in the world to introduce new skill-based video gambling machines (VGMs) to their casino floors in California and Vegas this October. That’s if Atlantic City doesn’t get their own video gambling machines first. Last year, both Nevada and Atlantic City altered their gaming laws to permit the…Read More

FOBT’s “Crack Cocaine” Label a Myth, says Conservative Think Tank

FOBTs not “Crack Cocaine,” says Think Tank

The Institute of Economic Affairs (IEA) published a paper this week debunking what it claims are persistent myths surrounding the UK’s controversial fixed-odds betting terminals (FOBTs). IEA is a conservative free-market think tank whose mission statement is to “improve understanding of the fundamental institutions of a free society by analyzing and expounding the role of…Read More

Intertain Launching London IPO, Post-Brexit, and Rebranding as Jackpotjoy

Andrew McIver of Intertain says Brexit was a problem

Canada’s Intertain Group plans to trade on the UK stock market under the name of its online bingo brand, Jackpotjoy. Intertain acquired the Jackpotjoy brandname from Gamesys last year for £425.8 million ($566 million) and announced its intention to move to London last June. The acquisition of Gamesys’ assets made Intertain the largest bingo operator in…Read More

Vietnam Gambling Ban for Residents Remains, Billions in Investment Revenues Left on the Table

Vietnam gambling ban remains Nguyen Xuan Phuc

Vietnam gambling laws prevent residents of the Southeast Asian country from accessing their own domestic casinos. And that reality won’t change any time soon, after the government now led by Prime Minister Nguyen Xuan Phuc once again opted not to overhaul gambling laws and take advantage of the potentially massive revenue source. Home to nearly 95 million…Read More

Crown Casino and Aristocrat Gaming Sued Over “Deceptive” Dolphin Treasure Slot

Dolphin’s Treasure pokie faces federal challenge in Australia

The Crown Casino in Melbourne and slots manufacturer Aristocrat Gaming are facing a legal challenge from an ex-gambler. Shonica Guy, of Adelaide, wants to force both companies to admit that their Dolphin Treasure slot machine is deceptive and manipulative. Dolphin Treasure has been one of the most popular “pokies,” as they are known in Australia, since…Read More

Parisian Macau Awarded 150 Gaming Tables Despite Growth Regulators

Parisian Macau allocated 150 gaming tables

Sands China’s new $3 billion casino resort, The Parisian Macau, located on the Cotai Strip will open on September 13th with just 100 gaming tables. The allocation by the Macau regulator represents fewer tables than Las Vegas Sands Corp Chairman Sheldon Adelson had hoped for, but considerably more than some analysts thought the casino might…Read More

Ted Leonsis DraftKings Investment Sign of Possible DFS Market Revitalization

Ted Leonsis DraftKings investment

Daily fantasy sports market leader DraftKings has raised $153 million in new investment money. Ted Leonsis, the billionaire owner of the Washington Capitals and Washington Wizards sports teams, has bought a significant, but undisclosed, stake in the company through his investment firm Revolution Growth. This is DraftKing’s second major round of funding in just over a…Read More