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Saturday, July 21, 2018

World Casino News
La Jolla tribe adds gaming to local business

In northern San Diego County, a partnership between the federally recognized La Jolla Band of Luiseño Indians and multinational oil and gas company, BP, will reportedly see the opening of the La Jolla Trading Post & Casino before the month’s end. The Valley Roadrunner newspaper reports…. Chief executive officer for the 700-member La Jolla tribe, […]
Casino News Daily
Melco Opens Two Casino Facilities at Larnaca Airport Within Months

Two satellite casino facilities will open doors at the Larnaca International Airport by the end of the year under an agreement between Integrated Casino Resorts Cyprus and Hermes Airport Ltd., a joint statement by the two companies says.

Integrated Resorts Cyprus represents the joint venture between Hong Kong-based gaming and hospitality giant Melco Resorts & Entertainment and its Cypriot partner CNS Group. The two companies were selected as the preferred bidder for the development of the first integrated resort with a casino floor in the Republic of Cyprus. Under the term of their license from the Cypriot government, Melco and CNS Group are also set to open four satellite casinos across the tiny Mediterranean republic.

The recently signed agreement with Hermes Airports, the company operating the Larnaca International Airport, will allow Melco and its local partner to establish two gaming facilities at the airport. The agreement has a two-year term and an option for renewal.

The first facility will be located in the departures area and is expected to become operational in the next three months. Only departing passengers will be able to access it. The other facility will be established in the arrivals section of the airport and will be accessible to everyone. It is expected to be completed by the end of the year.

Both facilities will be branded Cyprus Casinos. They will feature slot machines only and no gaming tables. It is yet to be determined whether the satellite casino at the Larnaca International Airport will be open 24 hours.

Melco Hails First Days of Temporary Casino Operation

News about Melco’s agreement with the Larnaca International Airport emerge days after the company said that its temporary casino in Limassol welcomed 34,000 unique visitors during its first three weeks of operation thus beating original expectations. The property opened doors on June 28 as a temporary operation while the main City of Dreams Mediterranean resort is under construction.

Melco revealed that guests from 41 countries played at its casino during its first days. Patrons from Cyprus, Greece, Israel, the United Kingdom, and Russia represented the largest group of players, and slot machines followed by American Roulette proved to be the most popular games.

The temporary operation currently features 242 slot machines and 33 gaming tables, a VIP salon, a restaurant, and two bars. It is open 24/7 and players must be 21 or over in order to be admitted to the gaming floor. Melco has said that 6,000 patrons have joined its rewards program since the casino opened doors.

The main resort is currently under development in Limassol. The property is slated to open doors in 2021. Melco plans to invest more than €550 million into what would be its first integrated resort outside Asia. The company has said that it would look to combat seasonality in Cyprus by establishing an operation that would be drawing visitors all year round.

The post Melco Opens Two Casino Facilities at Larnaca Airport Within Months appeared first on Casino News Daily.

Friday, July 20, 2018

Casino – CalvinAyre.com
Scammers target Spanish slot machines with altered €5 bills

chinese-scammers-spain-slot-machinesAn 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.

Casino News Daily
Vietnamese Casino Fined for Faulty Tax Reports

The owner of Royal International Gaming Club in Ha Long, Vietnam has received a $15,000 fine after being found to have provided faulty reports of value added tax and using illegal invoices, local news outlet VnExpress reports.

Royal Casino is part of the larger Royal Halong Hotel owned by gaming and hospitality company Royal International Corporation. The gaming venue currently offers four table games, with those being blackjack, roulette, baccarat, and Sic Bo, as well as 70 slot machines.

According to the Tax Department of the Quang Ninh province, owners of the casino have breached several tax regulations in their 2017 returns filings and VAT receipts due February 2018. Authorities revealed that Royal International Corporation was penalized with a $15,000 fine, which included a $10,500 levy for faulty VAT reports and another $3,700 levy for providing illegal invoices.

Similarly to most of Vietnam’s land-based casinos, Royal Casino services foreign patrons only. The VnExpress reports that the gambling venue has been recording profit losses since 2013. According to the owner’s report for the third quarter of 2017, the casino saw its loss jump more than 23 times to over $3.04 million.

Revenue during the first quarter of 2018 totaled $2.92 million, the company’s financial report states. The property also generated $69,000 in profits after tax, which is a considerable increase from a loss of $908,000 during the same three months of 2017. However, it is believed that Royal International Corporation has accumulated loss of more than $7.4 million from its gambling operation on a total capital investment of around $30.5 million.

Casino officials have revealed that visitors from Taiwan represent their largest customer group and that the number of patrons from Mainland China has decreased significantly over the past several years. Chinese gamblers are the most popular customer group with stakeholders of the Asia-Pacific region’s casino industry due to their spending habits. Patrons from China are targeted heavily by casinos in the area and competition has become even fiercer in the years after Chinese President Xi Jinping’s anti-graft campaign that resulted in high rollers steering away from Asia’s gambling mecca Macau and looking for other destinations to gamble without appearing on Chinese authorities’ radar screens.

Regulatory Changes in Vietnam

Up until recently, Vietnamese nationals were prohibited from gambling at the country’s casinos. However, the country’s government announced earlier this year that it would lift the long-standing ban partially by launching a three-year pilot program that would allow residents to gamble at two gambling venues – one on the Phu Quoc island in South Vietnam and the other located in the Van Don Special Economic Zone. Both properties are currently under development.

In order to be admitted to the gaming floors of the two resorts, Vietnamese nationals will have to be aged 21 or over and to prove that their monthly income exceeds VND10 million.

Vietnam saw another important change in its gambling laws this year. The country’s government decided to relax previous restrictions on the provision of sports betting and engaging into the activity. A new set of rules was rolled out ahead of the World Cup, allowing nationals to bet on football matches but only with a state-run operators. Bettors can wager up to $44 on a match under the new regulations.

Despite the reforms, Vietnam’s black market was thriving during this year’s edition of the major football championship. Vietnamese police bust a number of illegal gambling rings in the months leading up to the World Cup and during the sporting event. News emerged most recently about an $87-million illegal online betting scheme that was nabbed by police during the football tournament. Ten people were arrested for their alleged involvement in the illicit operation which could easily be dubbed Vietnam’s largest one ever busted.

The post Vietnamese Casino Fined for Faulty Tax Reports appeared first on Casino News Daily.

Casino – CalvinAyre.com
Japan casino legislation finally approved by Diet’s upper house

japan-casino-legislation-approvedJapan’s casino bill has cleared the legislature’s upper house despite a flurry of last-minute procedural tactics by opponents of gambling expansion.

On Friday, the final day of the Diet’s current legislative session, the House of Councillors formally approved the Integrated Resorts (IR) Implementation Bill. The bill’s passage marked the climax of a multi-year process that faced innumerable obstacles, including a majority of the Japanese public that remains deeply skeptical on the merits of gambling expansion.

The bill calls for a maximum of three large-scale gaming venues to be constructed in cities that have yet to be determined. After the first IR location has been established, a seven-year clock will start, after which the government will review whether to permit the construction of additional IRs.

The first licenses aren’t expected to be issued until 2020, while the expected scale of these projects mean the first casino isn’t likely to open for another five years after that.

In late 2016, Japan passed legislation amending the country’s constitution to permit casino gambling. But political upheaval and public skittishness poured molasses on the IR Implementation Bill’s path to passage.

In May, the Diet approved a companion bill containing provisions to mitigate the potential harms of casino gambling. The government’s recognition of the public’s ongoing uncertainty regarding casinos is reflected in the strict conditions imposed on both the public and the companies that are fortunate enough to win the highly coveted IR licenses.

Japanese gamblers face casino entry fees (not applicable to foreign gamblers) and limits on the frequency of their casino visits (monitored through the use of national identity cards).

Casino operators will be required to cap their gaming floor space at no higher than 3% of a resort’s total footprint and will pay a hefty 30% tax on gaming revenue. International operators may also potentially be limited to minority partner status in joint ventures with local companies.

Still, better half a fish than no fish at all. The IR Bill’s passage will only intensify the lobbying knife-fight that is already being waged behind the scenes by international operators eager to plant their flag in a casino market that could ultimately rival Macau in terms of gaming revenue.

The post Japan casino legislation finally approved by Diet’s upper house appeared first on CalvinAyre.com.