The Blackstone Group reportedly injected nearly AU$500 million ($337 million) into Crown Resorts in 2023 following its significant penalties for breaking anti-money laundering and counter-terrorism financing (AML/CTF) legislation.
According to sources cited by the Australian Financial Review, the funding was given after the AU$450 million ($300 million) fine imposed by Australia’s financial watchdog AUSTRAC on Crown.
Blackstone acquired a majority stake in Crown Resorts in 2022 for AU$8.9 billion ($6 billion).
This goes in line with statements given by Crown Resorts CEO Ciarán Carruthers to AGB in May of this year, indicating that “I knew the funding was going to be made available from Blackstone and we spent over AU$200 million since that acquisition in making sure that the work was there and the resources were there”.
Carruthers left his role as Chief Operating Officer in Wynn Macau in September of 2022 to helm Crown Resorts through its transition process, one of numerous top executives hired on after Blackstone’s acquisition. Carruthers is departing the role of CEO but no permanent replacement has yet been named by Crown.
Ciarán Carruthers, ex-CEO for Crown Resorts
According to AFR sources, the funds injected were to maintain operations and continue remediation efforts, even as costs continued to rise and VIP customers were fewer and more frugal.
Crown, Australia’s largest casino operator, also recently announced that it was contemplating the sale of its prestigious Capital Golf Club as part of efforts to stabilize its finances and in July sold its 20 percent stake in Japanese restaurant and hotel chain Nobu in a $180 million deal.
Further disposal of non-essential assets could be in the works, as the impact of carded play, gambling limits and increased oversight of customer due diligence in Australia all come into play.
Macau’s gaming tax revenue reached just under MOP66.40 billion ($8.31 billion) in the first nine months of this year, surpassing the full-year total of MOP65.26 billion ($8.16 billion) collected in 2023, according to official data released by the Macau Financial Bureau (FSB).
From January to September, tax revenue from gaming increased by 45.1 percent compared to the same period last year.
In September alone, the government collected MOP7.62 billion ($953 million) in gaming taxes, a 6.4 percent rise from August, as reported by the Financial Services Bureau on Thursday.
Gaming taxes accounted for 83.1 percent of Macau’s total revenue for the first nine months of 2024, with overall tax revenue standing at MOP79.92 billion ($9.97 billion).
The government’s 2024 budget plan anticipates gaming tax revenue to reach nearly MOP83.61 billion ($10.43 billion), with the current take representing 79.4 percent of that target.
Under Macau’s 10-year gaming concession system, which came into effect on January 1st of last year, the effective tax rate on casino gross gaming revenue (GGR) stands at 40 percent.
Suntrust has appointed IGT Asia Pte Ltd. as the contractor for its Westside City project in Manila, which is scheduled to open in the first quarter of 2025.
The appointment, formalized through an agreement dated October 11th, 2024, tasks IGT Asia Pte Ltd. with the supply and maintenance of gaming management equipment, software, and services. The contract is valued at approximately $4.72 million for the supply portion, with an additional $566,520 allocated for maintenance services.
The decision to award the contract to IGT Asia Pte Ltd. followed an arm’s-length negotiation process, considering factors such as the estimated cost, market pricing for similar work, and competitive tender bids. Among the four contractors that submitted tenders, IGT’s bid was the second lowest. However, the company’s extensive experience and the superior functionality of its products made it the preferred choice.
According to a filing with the Hong Kong Stock Exchange on Monday by Suntrust’s parent company, LET Group, IGT’s qualifications extend beyond competitive pricing. The contractor has successfully completed multiple projects across various jurisdictions, including Macau, Australia, Vietnam, and the Philippines, giving it a deep understanding of regional regulatory requirements. Its proven track record in the Philippines ensures compliance with local government authorities and regulators for the Westside City project.
The filing also indicated that Suntrust’s shares on the stock exchange remain suspended, pending the company’s fulfillment of specific resumption guidelines. Trading in the company’s shares has been halted since February 14th, 2024.
Good morning. Tightening the noose. Macau has criminalized illicit money exchange practices, particularly targeting “money exchange gangs,” with offenders facing up to five years in prison for operating unapproved currency exchange businesses for gambling. The legislation aims to address various illegal gambling activities, including online gambling and unlicensed lending, through undercover investigations and night searches. Meanwhile, in a major operation, the Philippines has arrested Chinese national Lyu Dong, a key figure behind illegal POGOs in the country. Moving further to Australia, September gaming results in Queensland showed an increase of 7.7 percent compared to the previous year.
Altenar, a leading sportsbook provider is bringing its global expertise to Asia, looking to expand its operations. Since 2011, Altenar has powered hundreds of online sports betting sites worldwide and is a major B2B provider in Europe and Latin America licensed markets.
For global betting company 1xBet, Asia is a key market for several reasons. This is why 1xBet pays special attention to the Asian market and actively promotes its sports betting platform and the most popular gambling games on the continent.
Industry Updates
FeedConstruct introduces Friendship Platform, a hub for LiveVideo streaming.
Thai police in Pattaya raided an illegal poker game in Nong Prue last Wednesday, arresting nine foreign nationals in the process.
Among them were three South Koreans, two Americans, two Australians, a Russian, and a British expat. The group was playing at a private residence and was apprehended following reports from neighbors. The operation, led by Pattaya City Police and Bang Lamung District officials, also resulted in the seizure of poker chips, cash, and gambling equipment.
All suspects face charges under Thailand’s gambling laws but police are expected to handle the case based on the circumstances and discretion, particularly given Thailand’s complex gambling regulations.
Police Colonel Nawin Theerawit, who oversaw the operation, stated that the team had staked out the location before making their move. The arrested group consisted mostly of retirees, and they, along with a Thai dealer and housekeeper, were taken to Pattaya City Police Station for questioning.
Under Thai law, most forms of gambling, including poker, are illegal, except for certain exceptions like government lotteries and horse racing. Those caught gambling face up to three years in prison and fines of up to THB5,000. Additionally, more than 120 playing cards were discovered on-site, which could trigger further penalties under the Playing Cards Act of 1943, carrying sentences of up to 10 years.
While poker enthusiasts argue that the game requires skill rather than luck, it remains prohibited in Thailand, and underground poker games continue to be targeted by law enforcement. This latest bust adds to an ongoing debate on whether gambling should be legalized in the country, especially as larger casinos are still outlawed, and smaller-scale operations like these are frequently raided.
Authorities in Cebu arrested 38 undocumented foreigners, believed to be Chinese nationals, during a raid on a suspected Philippine Offshore Gaming Operator (POGO) facility in Barangay Saavedra, Moalboal.
The operation, conducted Wednesday, took place in a rented resort villa and involved the seizure of numerous computers and gadgets. Brig. Gen. Anthony Aberin, Police Regional Office (PRO) 7 chief, stated that the raid was part of a joint effort between local authorities, including the Bureau of Fire Protection, following reports of suspicious activities. The arrest highlights continued efforts against illegal POGO operations in the region.
Moalboal Mayor Inocentes Cabaron revealed that the investigation was triggered by a tip regarding the villa’s request for high-speed WiFi, a requirement often associated with POGO operations. Cabaron emphasized that they worked closely with local law enforcement and other agencies to monitor the situation before the raid.
Aberin reaffirmed the police force’s commitment to eradicating illegal POGO activities, stressing that collaboration with local government units (LGUs) and the community is vital to ridding Central Visayas of such operations. He added that POGO-like activities pose a significant threat to families and the country at large.
According to initial reports, the villa had been rented by the foreign nationals since September 28 under suspicious circumstances, leading to increased surveillance and subsequent intervention. The operation represents a significant move in the broader fight against illegal gaming activities across the region, with authorities vowing to continue their efforts to disrupt these operations.
In addition to the 38 arrests, a substantial number of gadgets and computers were seized from the villa, believed to be used for illegal online gambling activities. Further investigations are underway to uncover the full scope of the operations, and authorities are expected to pursue charges against those involved.
Aberin concluded by encouraging continuous vigilance and cooperation between law enforcement and local governments to ensure that Central Visayas remains free from these types of criminal enterprises.
Senator Sherwin Gatchalian has issued a warning to local government units (LGUs) in the Philippines, urging them to take note of the recent suspension of Porac, Pampanga officials by the Office of the Ombudsman.
This suspension followed their alleged tolerance of Philippine Offshore Gaming Operators (POGOs), despite President Ferdinand Marcos Jr.’s directive for a total ban on such operations. Among those suspended were Porac’s mayor, vice mayor, and several councilors, as well as the town’s Business Permit and Licensing Office head.
Gatchalian emphasized that LGUs must not ignore illegal activities and should take action against crimes in their regions. The suspended officials were charged with Gross Neglect of Duty after a raid at the Lucky South 99 POGO hub in Porac revealed continued illegal operations despite government orders. If found guilty, they may face dismissal from service.
Philippine Senator Sherwin Gatchalian
Gatchalian’s message was clear: “Local leaders should not turn a blind eye to criminal activities, and must comply with national directives, especially regarding the President’s stance on POGOs. This case serves as a reminder for LGUs across the Philippines to be vigilant and ensure their areas are free from illegal operations.”
In a major operation on Thursday, October 10th, authorities in the Philippines arrested Chinese national Lyu Dong, a key figure behind illegal Philippine Offshore Gaming Operators (POGOs).
The raid, led by the Presidential Anti-Organized Crime Commission (PAOCC) in coordination with various military and immigration agencies, culminated in Dong’s capture in Biñan, Laguna, following an eight-month surveillance effort. Lyu Dong is accused of being behind scam hubs such as those across Bamban, Tarlac, and Porac, Pampanga.
The arrest of Lyu Dong, also known by his alias “Boga” or “Hao Hao” (which translates to “Boss of the Boss”), is considered a critical blow to the sprawling criminal network linked to POGOs. Dong, now 39, has operated in the Philippines since his arrival at the age of 26.
His arrest came as authorities executed an immigration mission order during a tense operation involving multiple agencies such as the Armed Forces of the Philippines Joint Special Operations Group, the Bureau of Immigration, and PAOCC.
PAOCC’s report to Executive Secretary Lucas Bersamin revealed that Dong’s arrest marks a significant step in a long-standing investigation aimed at bringing down POGO operators with ties to human trafficking, scams, and other illicit activities. Initial findings indicate that Dong’s true identity is Lin Xunhan, based on his passport.
However, Dong had used the name Lyu Dong in various transactions and social settings during his early years in the Philippines, according to statements from former associates.
Lin Xunhan passport. Source: PAOCC
Although Lyu Dong’s name does not appear in official records for Lucky South 99 POGO in Porac or Hongsheng/Zun Yuan in Bamban, PAOCC linked him to these notorious establishments, solidifying his role as one of the masterminds behind scam farms in these areas. These operations reportedly use legitimate businesses as fronts, making it difficult for authorities to trace and shut them down.
Dong’s operations have spread across multiple regions in the Philippines, including major cities like Pasay, Parañaque, Manila, and Makati in Metro Manila, as well as other provinces like Ilocos Sur in the north and Cebu in the Visayas. His wide-ranging influence and ability to evade law enforcement earned him the moniker “Hao Hao” within the POGO community, a testament to his extensive criminal reach.
PAOCC’s report noted that despite some raids on Dong’s operations, his illicit businesses have continued to thrive. Since 2016, Dong has methodically built an expansive network of scam farms across the country. Even as authorities shut down some of these operations, Dong’s network remains deeply entrenched, complicating law enforcement’s efforts to dismantle his criminal enterprise.
During Thursday’s operation, 13 Chinese nationals were arrested alongside Dong. Authorities also seized three 9mm caliber pistols. Among those arrested was a man identified as Zhang Jie, a name that surfaced during investigations into other POGO operations.
Although authorities initially suspected this Zhang Jie to be the same person involved with Lucky South 99 in Porac, further investigation is ongoing to confirm this connection.
PAOCC officials expressed concerns about Dong’s ability to manipulate the legal system to evade punishment. Dong had previously used the courts to quash search warrants issued against his operations, further complicating efforts to bring him to justice. His network is believed to have used loopholes in the law and the assistance of corrupt officials to maintain its illegal activities under the radar.
One prominent figure tied to Dong’s operations is Alice Guo, a dismissed mayor who is currently in jail facing human trafficking charges related to the Bamban POGO hub. Guo’s involvement has led to multiple ongoing investigations, including those implicating other individuals tied to her criminal activities. While Guo has pointed to her co-incorporator Huang Zhiyang as the real “big boss” of the Bamban POGO, Huang remains at large.
Bamban POGO hub, Philippines
In Porac, investigators are focusing on Duanren Wu, the incorporator of Whirlwind, the lessor of Lucky South 99. Wu, a former Chinese policeman who is allegedly wanted in China, has become a person of interest for the Philippine Congress. Witnesses who testified before lawmakers claimed that Wu, who is also the godfather of another key suspect, Cassandra Ong, may be the true leader of the scam hubs in Porac.
As authorities continue their crackdown on POGOs, PAOCC emphasized the challenges posed by the complex and clandestine nature of these operations. Many of these scam farms are intricately linked to international criminal syndicates, complicating efforts to shut them down completely. Despite these challenges, the PAOCC remains committed to dismantling these networks and holding those responsible accountable.
The arrest of Lyu Dong marks a significant milestone in this ongoing effort. However, PAOCC stressed the importance of remaining vigilant and adapting strategies to counter the evolving tactics of POGO operators. The commission called for more comprehensive measures to detect and prevent similar scams from proliferating, not just in the Philippines but across the broader region.
FeedConstruct, a leading data provider delivering precise sports data for events globally, has announced the launch of its latest innovation, the Friendship Platform.
The Friendship Platform is designed to bring sports video content owners and buyers together and is a one-stop hub where sports federations, leagues, clubs, and other content rights holders can effortlessly distribute their video content to a wide network of sports betting operators and others in need of sports video content.
The Friendship platform is designed to connect video providers with buyers through a cutting-edge marketplace, offering a content and stream management platform, fast and reliable delivery channels along with transparent tracking mechanisms.
FeedConstruct’s partners already provide more than 220,000 exclusive live sports video events annually, covering over 20 sports and eSports, to a network of 300+ worldwide clients.
As an aggregator, the platform integrates video providers, creates a unified calendar and delivers streams based on different business models, either through API or directly within the platform.
For content rights holders, the platform offers flexible monetization options, allowing them to set custom prices, control access by geolocation, and benefit from detailed analytics on audience engagement and streams. The platform also provides comprehensive sales reports.
For content buyers, the Friendship platform ensures access to a large selection of exclusive and diverse live events, with options for both automated and manual booking. The platform supports various business models, including fixed packages, pay-per-match (PPM), or a mix of both.
Buyers can also take advantage of easy integration and low-latency streaming. Detailed reports on bookings and viewership are available as well.
SOFTSWISS, a leading iGaming technology provider, has strengthened its foothold in Europe by obtaining certification for its Jackpot Aggregator in Bulgaria.
The iGaming market in Bulgaria is experiencing significant growth, attracting new businesses despite stringent domestic regulations. The market is projected to generate 168.70 million euros in revenue by 2028, with an annual growth rate of 5.42%. The number of users is expected to reach 377.3 thousand by the same year, further highlighting the sector’s momentum.
In line with this growth, SOFTSWISS announces that its Jackpot Aggregator has received certification from Gaming Laboratories International (GLI), ensuring it meets all technical requirements for use in the Bulgarian market. With the new accreditation of the SOFTSWISS Jackpot Aggregator, Bulgarian-licensed operators can integrate this advanced engagement tool into their casino offerings.
In May, SOFTSWISS successfully entered the Bulgarian market through a partnership with Topwin.bg, which implemented the SOFTSWISS Casino Platform, the Game Aggregator, and the Sportsbook.
“We are seeing a strong surge in interest in our jackpot mechanic, fueled by the growing demand for engagement tools in the market. That’s why we are committed to further developing the Jackpot Aggregator, enhancing its features, and expanding into new markets. Certification for the Bulgarian market is a clear testament to our ambition and drive for expansion. We are actively working on obtaining certifications in other jurisdictions,” comments Angelina Stasiuk, Head of Business Line at SOFTSWISS Jackpot Aggregator.
SOFTSWISS has several international and national licenses and certifications, including a South African license acquired through the purchase of a majority stake in Turfsport. The company recently announced its plans to become the first certified software provider in Brazil.
