Malaysian authorities claimed to have successfully thwarted a significant money laundering scheme linked to an illegal online gaming operator.
According to the Malay Mail, the Bukit Aman Anti-Money Laundering (AMLA) division uncovered the operation, which involved laundering illicit gambling revenues from overseas totaling hundreds of millions of ringgit.
Datuk Muhammad Hasbullah Ali, head of the AMLA division, reported that the suspect involved aimed to conceal his criminal activities from local authorities. He accomplished this by using a local investment bank in Labuan to manipulate deposits of illicit funds through offshore entities.
The bank, which operates under the Labuan Offshore Financial Services Authority, is a licensed financial institution. The suspect, holding dual citizenship and being a non-Malaysian, received commissions from over 10,000 online gambling transactions.
Authorities estimate the total gambling revenue at RM14.05 billion ($3.18 billion), with RM371 million ($84.13 million) funneled into Malaysia.
Out of the RM371 million ($84.13 million), an estimated RM281 million ($63.69 million) was allocated for purchasing stock units. Investigations led to the freezing of several bank accounts belonging to the suspect, including an escrow account of RM18.55 million ($4.21 million) and a Central Depository System account containing RM281 million ($63.69 million).
Additionally, authorities revealed that the suspect is currently wanted in his home country, appearing on Interpol’s Red Notice list.
WinZir, the rising online gaming platform in the Philippines, has been making waves in the industry with its fast and secure betting experience, and its commitment to support the Philippine sports scene.
Launched in July 2022, WinZir is a subsidiary of Sandbox Entertainment Corporation and is licensed by the Philippine Amusement and Gaming Corporation (PAGCOR).
One of the things that set WinZir apart from its competitors is its commitment to providing a fun, fair, and safe betting experience. The platform is regularly audited by independent third-party companies to ensure the integrity and fairness of its games. It also strictly adheres to PAGCOR’s rules and regulations.
In addition, WinZir is deeply committed to responsible gaming and takes measures to prevent and address gambling problems. It provides resources and tools for players to manage their gambling habits and offers support for those who need help.
WinZir offers a wide variety of games, including sportsbook, table games, e-bingo, live casino games and virtual games. It also offers promotions such as risk free bets and welcome bonuses, as well as live weekly raffles with enticing prizes. Its selection of games and offers are designed to cater to all types of players and their preferences.
With its growing success, philanthropic efforts and commitment to providing an exceptional betting experience, WinZir is poised to become a major player in the online gaming industry in the Philippines.
Blueprint Gaming breathes new eternal life into a blooded 80’s cult classic in its latest release, The Lost Boys, where an alluring bonus game and cash features lead the way, complemented by the studio’s thrilling new jackpot mechanic.
Against an eerie backdrop of the Santa Carla amusement park, the film’s iconic characters occupy the 5×3 grid alongside two different cash collect and fang-themed bonus symbols.
The Lost Boys also sees slot enthusiasts benefit from Blueprint Gaming’s new networked Jackpot system, Rapid Fire Jackpots. Landing five Rapid Fire symbols anywhere on the reels triggers the Rapid Fire Wheel, offering stake multiplier wins ranging from 5x to 1,000x or one of five progressive pots from Mini to Mega King.
The Lost Boys marks the latest release from Blueprint Gaming’s jam-packed summer slot schedule, underlining the studio’s ability to transform cinema and pop culture into engaging slot brands, building on player-favorites ted, The Goonies and Rick and Morty.
Jo Purvis, Director of Marketing, PR and Events at Blueprint Gaming, said: “We’re delighted to take players for a trip down memory lane and bring to life the renowned 80’s cult classic through our feature packed The Lost Boys.”
Australia’s Communications Minister Michelle Rowland has flatly denied that she met with gambling executives and that she intentionally relaxed restrictions due to pressure from gambling companies, broadcast media and sports codes.
Independent MP Kate Chaney had claimed that Rowland met with gambling executives 66 times in six months, claiming this was unveiled by documents uncovered in a freedom of information (FOI) inquiry.
Chaney also further claimed that Rowland was “conspiring with the sector to continue grooming young people”.
Rowland stated in her defense: “That is not what those FOI (freedom of information) documents uncovered, in fact the documents will show I met zero times with gambling executives. And we will continue to go about this process with the facts, in an orderly way, because facts are important here”.
Rowland has been accused of being soft on gambling operators in regards to their advertisements – choosing to not opt for a total ban, instead placing limits on gambling adverts.
The Minister defends that the government is prioritizing the reduction of normalization of sports betting, limit children’s exposure to betting ads and the saturation of advertising, in particular online.
She stated that the authorities “will continue to consult in a mature and orderly manner consistent with a proper Cabinet process”.
This comes after a group of more than 60 Australians – including former prime ministers, MPs, union heads, athletes, advocates, business professionals and others signed an open letter calling for a ban on all gambling advertisements within three years.
According to the Australian Financial Review, Minister Rowland had flagged a total ban on social media ads by gambling companies in private briefings to betting firms, sports codes and media companies. However, the ban would not extend to television, instead proposing limiting ads on TV to an hour before or after live sports as well as a limit of two ads per hour until 10pm.
The Australian government has also delayed a decision to ban gambling advertising on playing fields and players’ jerseys.
Thailand’s Constitutional Court has dismissed Prime Minister Srettha Thavisin from office over a Cabinet member appointment that it found to be an ethical violation.
Thavisin had used his first television address as PM to encourage plans to legalize casinos to curb illegal gambling and increase government revenue.
His removal comes due to his appointment of a Cabinet member who had been jailed in connection with an alleged bribery attempt.
The former PM noted that he would respect the ruling, claiming he had always aimed to act ethically while in office.
He had been in office for less than a year.
According to reports, he noted that “I’m sorry that I’d be considered as a prime minister who’s unethical, but I’d like to insist that I believe that is not who I am”.
Current deputy prime minister Phumtham Wechayachai is expected to become acting prime minister.
Wechayachai is part of Thavisin’s Pheu Thai governing political party which on Wednesday assured that it could convince its second-largest coalition partner, Bhumjaithai, to end its opposition to legalizing casinos. Pheu Thai sponsored the bill to legalize entertainment complexes containing casinos. On Tuesday, Bhumjaithai stated that it opposed the bill.
Just hours before being removed as Prime Minister, Thavisin expressed optimism that his party would be over to convince Bhumjaitahi, but noted that all parties have to be convinced and agree to legalize casinos before the bill is presented to the House.
Bhumjaithai has four main points of opposition to the casino bill: claiming it won’t solve illegal gambling, that financial benefits for both the government and private sector don’t justify the investment, that casinos’ stimulating effect on tourism is untenable, and that the bill doesn’t detail how entertainment complexes will provide job security for Thai nationals. The Entertainment Complex Business Operation Bill is currently at the public hearing process, set to run until August 18th.
PH Resorts Group Holdings, Inc. has still not been able to find new suitors for its Emerald Bay project, despite restrictions previously in place due to its previous deal with Tiger Resort Leisure & Entertainment, Inc (TRLEI) having been lifted.
The company is currently engaged in the construction of the Emerald Bay integrated tourism resort on Mactan Island, Lapu-Lapu, Cebu, which is expected to benefit from a seven-year exclusivity period upon completion.
The construction of Emerald Bay, which began in December 2017, is currently on hold as PH Resorts recast its timetables and specifications in light of ongoing negotiations. The resort will be constructed in two phases, and the timeline for the first phase’s opening remains uncertain as strategic investor discussions continue.
In addition to the Emerald Bay project, PH Resorts operates a resort in Panglao Island, Bohol, which has been in commercial operation since 2018.
The group reported a net loss of PHP494.3 million ($8.67 million) for the first half of 2024, an improvement from the PHP1.08 billion ($18.96 million) in losses in the same period last year.
This loss is attributed primarily to ongoing pre-development expenses, contributing to an accumulated deficit of PHP7.32 billion ($128.66 million) as of June 30th, 2024. At the same time current liabilities exceeded current assets by PHP12.33 billion ($216.51 million) as of June 30th, 2024.
Negative operating cash flows of PHP97.2 million ($1.71 million), compared to PHP27.0 million ($474,000) in 2023.
PH Travel, the Group’s immediate parent company, signed a term sheet with Bloomberry Resorts Corporation (BRC) in May 2022 for a potential investment in the Group’s subsidiary, LLI.
However, this agreement was terminated in March 2023, prompting PH Resorts to reengage with other interested investors. While navigating this transition, the group retained a PHP1 billion ($17.54 million) deposit from BRC.
Earlier in December 2023, PH Travel executed another term sheet with Tiger Resort Leisure & Entertainment, Inc. (TRLEI) to acquire majority ownership of LLI and LLC for the Emerald Bay project.
On July 1st, 2024, PH Travel and TRLEI terminated the term sheet, with PH Resorts now saying that it is now in discussions with several other parties interested in the development.
‘Despite this termination, the Group saw an opportunity to engage with other interested parties regarding the Emerald Bay Project, which had previously been restricted due to the TRLEI agreement. Discussions with several strategic investors are currently ongoing, with due diligence at various stages of completion’, the company added in its latest financial report.
As of June 30th, 2024, LLI received a nonrefundable amount of PHP327.6 million ($5.7 million) from TRLEI, classified as part of advances for future stock subscription under liabilities in the consolidated statement of financial position.
Galaxy Entertainment Group has reported a 52 percent increase in net profit for the first half of 2024, totaling over HK$4.4 billion ($564.7 million), on the back of a revenue increase of 37 percent yearly, to HK$21.5 billion ($2.76 billion).
The group’s adjusted EBITDA also increased by 37 percent yearly, reaching HK$6 billion ($770 million), with some HK$3.2 billion ($410.7 million) of that being added in the second quarter (up 28 percent yearly and 12 percent quarterly).
Speaking of the results, the group’s Chairman, Lui Che Woo, noted that “We continued to drive every segment of our business and further improve our resorts”.
Total gross gaming revenue during the period was HK$20 billion ($2.57 billion), a 45 percent yearly increase.
Mass GGR totaled HK$16 billion ($2.05 billion), a yearly increase of 43 percent, while rolling chip GGR totaled HK$2.7 billion ($346.5 million) – a 56 percent year-on-year rise. Electronic gaming GGR also saw a strong increase, of 61 percent yearly, to HK$1.3 billion ($166.85 million).
Cotai
The group’s primary property – Galaxy Macau – brought in some HK$6.95 billion ($892 million) in net revenue during 1H24 – up by 43 percent yearly, with HK$8.6 billion ($1.1 billion) contributed during the second quarter (up 32 percent yearly and 4 percent sequentially).
This was helped by gaming revenues at the property of HK$14.23 billion ($1.83 billion), up 44.2 percent yearly. During the second quarter gaming revenues totaled HK$7.35 billion ($943.35 million), up by 6.67 percent sequentially and 35.3 percent yearly.
The rolling chip volume reached HK$82.01 billion ($10.53 billion) in 1H24, up by 62 percent yearly, with the second quarter seeing a 19 percent sequential increase and a 53.4 percent yearly rise.
The group notes that Galaxy Macau ‘experienced bad luck in its gaming operations’ during the six-month period, causing a fall in adjusted EBITDA of ‘approximately HK$5 million ($641,730) ’- amounting to HK$5.4 billion ($693.1 million) – still a 37 percent rise yearly.
Macau Peninsula
The group’s StarWorld property, on Macau’s peninsula, saw gaming revenues of HK$2.42 billion ($310.6 million) during 1H24 – up by 25.6 percent yearly.
Gaming revenue in the second quarter fell sequentially at the property, down by 3.6 percent sequentially, but rising by 7.9 percent yearly.
The group notes that in 1H24 ‘StarWorld Macau experienced good luck in its operations which increased its adjusted EBITDA by approximately HK$48 million ($6.16 million)’. Total adjusted EBITDA amounted to HK$777 million ($99.73 million).
The group notes that it is ‘evaluating a range of major upgrades’ for StarWorld, ‘that includes the main gaming floor, the lobby arrival experience and increasing the F&B options’.
New developments
Looking ahead, the group is planning to open its 17-storey ultra-luxury hotel Capella in mid-2025. Meanwhile the group continues its ramp-up of the Galaxy International Convention Center (GICC), Galaxy Arena, Raffles and Andaz hotels.
Its Phase 4 is scheduled to be completed in 2027, bringing ‘multiple high-end hotel brands new to Macau’, along with a 5,000-seat theatre, F&B, retail, non-gaming, a water resort deck and a casino.
The group’s Chairman noted that Phase 4 “has a strong focus on non-gaming, primarily targeting entertainment, family facilities,” but also including gaming.
Smart tables
The company’s Chairman notes that it is “well advanced with the implementation of smart tables” and that it recently “completed the backend systems integration and customer database transfer” as well as the “live back-of-house pilot testing of smart tables”.
Lui Che Woo noted that “in early July, we commented the rollout of smart tables across Galaxy Macau’s main gaming floor. We anticipate to complete the full rollout by year end”.
Other contributors
The group’s other, smaller Cotai venue, Broadway Macau brought in net revenue of HK$100 million ($12.83 million) for 1H24, up by 144 percent yearly. Adjusted EBITDA turned positive, at HK$12 million ($1.54 million) for the six-month period, reversing a HK$20 million ($2.57 million) loss in 1H23.
The City Clubs operated by Galaxy saw a 29 percent yearly rise in adjusted EBITDA, reaching HK$9 million ($1.16 million).
Meanwhile, the group’s construction materials division brought in adjusted EBITDA of HK$366 million ($46.97 million), an 11 percent rise ‘predominantly driven by the strength in demand for construction materials in Hong Kong and Macau’.
The group saw a particular increase in demand for ready-mixed concrete – for both Hong Kong airport’s three runway project and the development works of Macau’s Zone A reclamation area.
Good morning. There’s nothing worse than not knowing. And in the case of Thailand, there have been many concerns as to whether proposed IR legislation would ever make it off the ground. These concerns have now been slightly eased, as the legislative proposal put forward has assuaged both operators and potential investors, points out Spectrum Gaming’s CEO. Meanwhile, results continue to roll in – with Newport and Resorts World Sentosa seeing upticks, while Bloomberry saw a slight drop.
Online gaming fraud is on the rise in the iGaming industry. In Q1 2022, there was an 85% increase in fake account registrations compared to Q4 2021. While players are undoubtedly affected by gaming fraud, iGaming platforms also suffer due to damaged reputations, huge financial losses, and legal consequences.
Premium slots and table games provider Habanero has launched its newest title Haunted Harbor, taking players on a swashbuckling adventure filled with instant cash prizes.
This 5×4 reel grid is populated by a variety of pirate characters as well as anchors, compasses and spyglasses which form matching combinations across the slot’s 25 pay lines to award a win.
Treasure chest symbols can land on the board with instant cash prizes of up to 50x the base bet. Meanwhile, pirate ship wilds can also appear, taking up either one space on the board or expanding vertically thanks to the Ghost Reel feature.
Hitting at least three scatter symbols provides access to up to 30 free spins. In the bonus game, the Ghost Reel is more prominent, unveiling expanding Wilds on their own or with a multiplier of up to 5x, which can also be sticky for the duration of the free spins to create massive win potential.
Haunted Harbor is another high-quality release from Habanero and follows recently released hits such as Glory of Rome and Koi Koi Treasure as the provider continues to diversify its expansive portfolio.
Commenting on the release, Toni Karapetrov, Head of Corporate Communications at Habanero, said: “Setting sail on a mysterious pirate ship, Haunted Harbor is a spooky swashbuckling adventure where players can uncover hidden treasure from mystery symbols and a Ghost Reel.”
Games Global and exclusive studio Fortune Factory Studios have launched WWE Bonus Rumble: Gold Blitz, a new immersive slot game that pairs the world-renowned wrestling brand with the thrilling Gold Blitz mechanic to provide an electrifying new entertainment experience.
The release marks the first of three licensed titles to be created over a three-year period under an agreement with WWE, one of the world’s leading sports entertainment brands. WWE Bonus Rumble: Gold Blitz will launch initially in Games Global’s core regulated markets outside of the US, where a separate rollout will follow.
The reels of the game are adorned with WWE Superstars including The Undertaker, “Stone Cold” Steve Austin, John Cena, and Booker T as fans will instantly recognise these iconic figures.
Designed to capture the WWE experience, the slot’s visuals reflect the excitement, energy, and experience of attending a wrestling event. Players can feel the excitement of a buzzing crowd, immerse themselves in the catchy music and cheer with the fans as they feel the anticipation of big win potential.
Andy Booth, Chief Product Officer at Games Global, said: “We are thrilled to create a slot with WWE, which is widely regarded as one of the most iconic sports entertainment brands in the world”.
