ELA Games, the industry’s leading iGaming studio, announces the release of its conceptually new game “Joker Cashpot”.
The new slot game aims to attract players with its exciting mechanics, a balance of strategy and randomness and traditional colorful design by the studio’s artists.
Joker Cashpot is a rare example of a creatively modified slot where the player can accumulate and multiply rewards. The game features a growing CASHPOT that increases with each spin, offering the chance to claim substantial rewards at any moment. However, players must beware of the Reset symbol, unless they have secured an Extra Life to safeguard their progress.
Mike Cini, Business Owner of ELA Games, shared his enthusiasm for the new release: “Joker Cashpot is more than just a slot game; it’s a blend of strategy and excitement. Players have the power to influence their fate with each decision they make. This game represents our commitment to creative and immersive gameplay experiences.”
Joker Cashpot offers an exhilarating blend of strategy and chance, where every decision could lead to untold riches. Players can fill the towers and claim the x500 Bonus Prize, watching their balance soar.
BetConstruct launches its game-changing sports pool solution – Pool Masters, for a thrilling betting experience and enhanced customer engagement.
Pool Masters is a leading-edge sports pool solution aimed at elevating the traditional sports betting industry for gaming operators who want to engage their players with new exciting experiences. The sports pool allows participants to predict the outcomes of multiple sporting events to compete for a shared prize pool from various matches and games.
Pool Masters involves participants purchasing entries or tickets and selecting their predictions for the outcomes of specific sports events. The prize pool is funded by the entry fees of participants, and it grows larger as more people join the pool. The winnings are then distributed among the participants who make correct predictions. With Pool Masters, sportsbook operators can elevate user excitement by integrating jackpot functionalities into their platforms and unlocking new revenue streams.
Pool Masters’ customisable platform caters to diverse markets’ needs, offering smooth integration with existing systems through seamless integration. With comprehensive pool management, detailed analytics, and multi-channel support, the platform ensures an effortless user experience. In addition, it allows efficient handling of increased traffic while dedicated account management and customer support guarantee satisfaction at every step.
A recent report by the United States Institute of Peace (USIP) highlights the alarming rise of industrial-scale gambling operations in Southeast Asia, identifying them as a significant driver of transnational crime and regional instability.
Established by the US Congress in 1984, the USIP acts as an independent institution devoted to the ‘nonviolent prevention and mitigation of deadly conflict abroad’.
The report, compiled by a senior study group of experts, examines the complex web of criminal networks that exploit weak governance and law enforcement to thrive in countries such as Myanmar, Cambodia, and Laos.
‘Over the past decade, Southeast Asia has become a major breeding ground for transnational criminal networks emanating predominantly from China. These organizations target millions of victims around the world with illegal and unregulated online gambling and sophisticated scamming operations,’ the report points out.
‘As of the end of 2023, a conservative estimate of the annual value of funds stolen worldwide by these syndicates approached $64 billion.’
The USIP report details how criminal organizations have established large-scale scam compounds that heavily rely on forced labor to run online gambling and scam operations. These illicit activities have not only spread across Southeast Asia but are also targeting victims globally, posing a direct threat to human security and the national security interests of several countries, including the United States.
According to the UTIP, scamming operations proliferating in the region nowadays have their roots in a regional network of loosely regulated casinos and online gambling that, beginning in the 1990s and accelerating in the 2000s, some governments promoted as a legitimate contribution to economic development.
‘Chinese nationals were the main target of the overseas gambling business due to a complete ban on gambling in China, where the annual market for gaming is estimated at $40 billion to $80 billion,’ it adds.
‘A range of forces have led this malign activity to take on new characteristics and, propelled by advances in digital technology, to reach beyond the region to target a global audience.’
These forces include the impact of the COVID-19 pandemic; expanding pockets of lax government regulation and law enforcement in the region; the spread of conflict in Myanmar; and the co-option of the state apparatus by gambling-related criminal interests in various countries, Cambodia and Laos in particular.
Philippines, Myanmar and China
Malaysian victims of job scams attend a press conference in Petaling Jaya, Malaysia, on September 21st, 2022. They said they were offered high-paying jobs in Thailand, but instead they were taken to a casino complex in Myanmar near the Thai border.
The study also addressed the role of the Philippines in the proliferation of online gambling. During President Rodrigo Duterte’s administration, a centralized framework for Philippine Offshore Gaming Operators (POGOs) was established, leading to a surge in licensed online gambling establishments.
‘This regulatory framework allowed these operators to bypass traditional taxation and financial disclosure requirements, fostering an environment where criminal activities could flourish,’ the report argues.
As for Myanmar, scam compounds receive additional protection from military and border guard forces, becoming integral to the country’s internal conflict.
These compounds have been implicated in the ongoing rebellion against the military junta, with various ethnic organizations attacking scam centers to wrest control from military-affiliated forces. Similarly, in Karen State, the scam compounds are caught in the crossfire between anti-junta forces and military-supported militias.
The profitability of these operations is staggering. In Cambodia alone, cyber scamming generates an estimated $12.5 billion annually, nearly half of the country’s formal GDP.
Overall, the criminal syndicates in the Mekong region are believed to steal over $43.8 billion each year, a significant portion of which flows to military and political elites in Myanmar, Cambodia, and Laos.
These funds are laundered through complex operations that penetrate the formal economy, including real estate investments in major financial hubs worldwide.
China‘s relationship with these criminal networks was also described as ‘complex’, marked by a mix of enforcement and complicity. While Beijing has cracked down on certain elements of these networks, it also leverages their activities to further its geopolitical aims, particularly through initiatives like the Belt and Road Initiative, claims the USIP.
‘Corruption within China further complicates these efforts, with many officials turning a blind eye to the criminal activities in exchange for bribes,’ the report adds.
US reaction
For the USIP, the United States has emerged as a major target of these scams, with Americans losing billions annually, with US residents losing an estimated $3.5 billion to these criminal operations.
‘The US Department of Justice has indicted individuals for laundering scam profits, highlighting the presence of these networks on American soil. This growing threat could soon rival the dangers posed by fentanyl trafficking, underscoring the urgent need for a coordinated international response,’ it pointed out.
The USIP also underscores the severe human costs associated with these gambling operations, citing instances of human trafficking and forced labor within POGO locations, where trafficked individuals are coerced into participating in scam operations under threat of violence.
‘These conditions have persisted despite efforts by the current Philippine government to crack down on scam syndicates and reduce the number of licensed operators,’ it alleges.
‘The criminal networks behind these operations have shown a remarkable ability to adapt to regional conditions and evade law enforcement efforts. Their activities are not confined to the illicit sphere; they often intersect with legitimate business sectors, gaining influence over local government and business elites’.
For the body, this duality makes them particularly difficult to combat and allows them to maintain a step ahead of regulatory and law enforcement agencies.
The USIP report concluded by calling for strengthened international cooperation to dismantle these criminal networks, with recommendations include enhancing regional law enforcement capabilities, improving regulatory frameworks, and disrupting the financial flows that sustain these illicit activities.
So called alien hacking and scam syndicates (AHaSS) are a bigger threat to national security than POGOs, according to Philippine gaming regulator PAGCOR.
Philippine Amusement and Gaming Corporation (PAGCOR) Chairman and CEO Alejandro H. Tengco emphasized that legitimate Internet Gaming Licensees (IGLs), formerly known as Philippine Offshore Gaming Operators (POGOs), are beneficial for the government, contributing over PHP5 billion ($85 million) to PAGCOR’s gross revenues in 2023.
“The real threat comes from the alien hacking and scam syndicates operating underground. Our law enforcement agencies are actively working to locate and dismantle these groups,” Tengco stated. “We are fully cooperating with the authorities in these efforts.”
The PAGCOR Chairman also urged the public to report any suspicious alien activities in their communities, warning that these criminal syndicates are typically armed and dangerous.
“We should not blame and demonize our licensed gaming operators, as they are closely monitored by PAGCOR,” he said. “Our licensees pay taxes and help provide legitimate jobs and livelihoods to many people.”
He mentioned that PAGCOR has monitoring teams embedded in the physical venues of all licensed gaming operators, including land-based casinos, to ensure compliance with their license terms.
Violators of license provisions face fines and penalties, and in severe cases, license revocation and bond forfeiture, according to Tengco.
“We do not need to outlaw POGOs; instead, we should intensify anti-crime operations against suspected alien hackers, scammers, and cyber-criminals hiding in highly secured buildings and compounds,” he said.
“These criminal syndicates are not engaged in legitimate offshore gaming, and if they are, they do it illegally. They are the real threat, and we must pursue them with all available resources,” the official concluded.
“So they are the real threat, and we must go after them with everything that we have,” PAGCOR’s head said.
In a crackdown on online fraud over seven months, Thailand’s Royal Police have arrested over 14,000 individuals involved in call center scams, investment fraud and illegal gambling.
The operation has also led to the freezing of THB4.5 billion ($122.2 million) in assets, and discussions are underway with the Anti-Money Laundering Office (AMLO) on how these can be distributed among victims.
Royal Thai Police deputy spokesman Police Major-General Siriwat Depor told the press during a recent media briefing that, following directives from Prime Minister Srettha Thavisin and acting National Police chief Police General Kittirat Panpet, authorities have been investigating and combating technological crimes. In the period from October 1st, 2023, to April 30th, 2024, authorities arrested 14,826 individuals involved in call center scams, investment fraud rings, and illegal online gambling operations.
In collaboration with the National Broadcasting and Telecommunications Commission (NBTC), the police also investigated the illegal installation of signal transmission equipment along the border. These devices were used by criminals to facilitate ongoing illegal activities. The operation successfully led to the confiscation of the equipment.
Thai authorities also worked on dismantling the financial networks tied to these operations by investigating payment flows, increasing financial tracking, and the freezing of mule accounts.
SkyCity Entertainment Group announces that the Federal Court has granted approval to the agreement brokered by SkyCity Adelaide, the entity operating the SkyCity Adelaide casino, and the Australian Transaction Reports and Analysis Centre (AUSTRAC), resolving the civil penalty proceedings initiated by AUSTRAC in December 2022.
According to the update filed with the Australian Stock Exchange on Friday, the court approved the fine value of AU$67 million ($44.6 million) concerning acknowledged historical violations of the Australian Anti-Money Laundering and Counter-Terrorism Financing Act 2006 and its rules spanning from December 7th, 2016, to December 14th, 2022.
AUSTRAC initiated proceedings against SkyCity Adelaide in 2022, alleging significant and systemic non-compliance with anti-money laundering and counter-terrorism financing laws.
Subsequently, SkyCity increased the amount it had set aside to cover a potential civil penalty from AU$45 million ($29 million) to AU$73 million ($47.3 million).
According to recent data released by the Department of Tourism (DOT), the Philippines welcomed over 2.4 million international tourists in the initial five months of 2024, marking a 16.3 percent increase compared to the same period last year.
International tourists constituted 93.4 percent of the overall arrivals, inclusive of individuals categorized as overseas Filipinos.
South Korea maintained its position as the leading contributor of visitors to the Philippines, with a total of 682,362 arrivals during the January to May timeframe, representing nearly 26.6 percent of the total arrivals. This figure reflected a 22.1 percent surge year-on-year.
Following closely behind, the United States emerged as the second-largest source, recording 403,721 arrivals from January to May, unchanged from the previous year, and accounting for approximately 15.7 percent of total arrivals.
China remained within the top three sources, contributing approximately 168,628 visitors in the initial five months of this year, constituting around 6.6 percent of all arrivals. This figure marked a notable increase of 93.9 percent from the corresponding period in the previous year. However, in May, the number of visitors from China decreased by 13 percent compared to the previous month, with the Philippines welcoming 27,475 visitors from China.
Meanwhile, arrivals from Japan reached a total of 158,461 in the first five months of the year, comprising 6.2 percent of the overall arrivals and reflecting a substantial 44.8 percent increase from the previous year.
With ambitions to attract 7.7 million foreign visitors this year, the Philippines has set high targets following its surpassing of arrival goals in 2023. The country welcomed a total of 5.45 million international visitors throughout 2023, with foreigners accounting for 91.8 percent of the aggregate.
The Hong Kong police have issued a warning regarding a surge in illegal football betting ahead of the upcoming UEFA European Football Championship, known as the Euro 2024.
They cite the rapid expansion of online platforms, making it easier for punters to place wagers, drawing from their experience in 2022 during the FIFA World Cup in Qatar, where 6,781 individuals were arrested, including 607 cases of serious gambling – the highest numbers in five years at the time. This suggests that major international sporting events have become a hub for both gamblers and bookmakers.
According to reports from Hong Kong media, a police officer from the Organized Crime and Triad Bureau mentioned that they anticipate a rise in illegal gambling cases because of the upcoming Euro tournament, which begins in Munich on June 14th.
During a press conference, the official highlighted how smartphones and online platforms have made betting more accessible, as part of a media event addressing problem gambling in the city.
Philippine authorities are set to investigate Bamban Mayor Alice Guo for potential tax evasion.
According to the Philippine News Agency, Bureau of Internal Revenue (BIR) Commissioner Romeo Lumagui Jr. is directing an investigation into individuals and entities discussed in the ongoing senate inquiry on Alice Guo.
Lumagui emphasizes adherence to due process. In cases where reported income to the BIR doesn’t align with the accumulated property values in the same taxable periods, potential criminal charges for tax evasion may ensue. Such charges can extend to collaborators and corporate executives of entities involved in amassing such assets.
Lumagui reassures the public of the BIR’s oversight of the Senate inquiry. He also stresses that any cash, properties, or wealth presented during the hearings must be supported by appropriate tax payments.
Previously, the Office of the Ombudsman issued a directive to suspend Alice Guo and two additional individuals for a maximum of six months, relating to graft charges filed by the Department of the Interior and Local Government (DILG).
Alice Guo, known as the “POGO Mayor”, is accused of allegations related to criminal activities, which are associated with the Philippines Offshore Gaming Operators (POGOs).
Regarding the proposal to ban POGOs in the country, Finance Secretary Ralph Recto mentioned that the Department of Finance would conduct a comprehensive analysis of the situation. “It is within the right of the lawmakers to talk about the ban on POGOs. That’s fine with me. I have no objection to that,” he said.
He points out that today, many entities labeled as POGOs are not solely engaged in POGO operations. There are other activities they undertake, yet they were categorized all as POGOs. In this context, Recto said there is a need to examine this closely.
Additionally, Recto also believes that it is necessary to consult with the gaming regulator PAGCOR to verify their earnings from these operations.
UBS has reaffirmed its positive outlook on the Macau gaming industry, raising 2024 mass estimates to 113 percent of 2019 levels, compared to the previous estimate of 110 percent.
In the latest investment memo, UBS explains that the revision of the mass gross gaming revenue (GGR) is due to better-than-expected revenue quarter-to-date. However, the non-gaming revenue estimate was lowered by about 4 percent, now expected to be at 114 percent of the 2019 level.
In this context, net-net, the brokerage maintains the 2024 sector EBITDA estimate at 89 percent of the 2019 level, with an unchanged operational expenses assumption at 105 percent of the 2019 level.
Generally speaking, UBS indicates that mass GGR momentum continued in 2Q24 after exceeding consensus expectations in the previous quarter. This reflects ‘continued demand strength.’
‘The recent addition of 10 individual visit scheme (IVS) eligible cities should effectively expand Macau’s addressable market and lift growth potential,’ indicates the memo.
Concretely, the IVS expansion and new visa arrangements are expected to structurally support visitation and mass GGR growth in Macau. UBS estimates the expansion of IVS-eligible cities increases the IVS catchment by 10 percent in GDP and 13 percent in population terms, driving higher visitor penetration with the ramp-up of flight capacity between the new IVS-eligible cities and Hong Kong and Macau, which will increase around 31 percent quarter-to-quarter in 2Q24.
Along with the introduction of new visa arrangements, this should continue to support mass strength in the second half of this year.
At the same time, stabilizing cost inflation and competition should moderate margin pressure in 2024, also supporting Macau’s gaming growth.
The 2024 EBITDA estimate remains unchanged at 89 percent of the 2019 level, based on higher mass GGR assumptions, offset by lower non-gaming revenue.
‘Key positive catalysts include proof of effectiveness of the recent visa relaxation and IVS expansion, margin stability, lower gearing, and higher cash returns to shareholders,’ it adds.
Galaxy expected to outperform in the near term
In a separate investment memo, Morgan Stanley notes that Macau gaming operator Galaxy Entertainment appears to have gained market share, while Wynn Macau seems to have lost some.
Based on the first two months of 2Q24, the brokerage expects Galaxy to outperform in the very near term.
Additionally, Macau GGR is tracking in line with or better than consensus, but EBITDA is missing estimates, and revisions have been negative since October 2023.
According to data provided by Morgan Stanley, Sands China continues to lead market share among the six gaming operators, with 24.2 percent in April and May, a figure that remains unchanged compared to 1Q24.
‘Sands tends to gain share during the holiday season, enabled by its large hotel inventory. This could be the reason Sands gained mass share in May on a MoM basis,’ the memo adds.
Galaxy held 18.9 percent of the market share in the first two months of this quarter, up from 17.5 percent recorded in 1Q24.
