Good Morning. Compliance is paving the way for sustainable success in Asian gaming, notes an expert, pointing out Macau’s recent and ongoing legal changes, in particular with junkets. In the Philippines, AGI has bought out the remaining shares of Newport World Resorts, following the collapse of former partner Genting HK. And Solaire operator Bloomberry scored another win, after a New York court upheld the dismissal of a case brought by Bangladesh Bank over the 2016 cyber heist.
What you need to know
- Changes to Macau’s legal framework are allowing for more transparency, beneficial for the SAR as a whole but detrimental for junkets.
- Alliance Group buys out the remaining shares in Newport World Resorts, following the collapse of former partner Genting HK.
- A New York court upholds its decision to dismiss a Bangladesh Bank case against Bloomberry over the 2016 cyber heist.
On the radar
- Malaysia to push gambling laws review says Prime Minister.
- New rulebook for crypto trade taking effect in Hong Kong.
- China arrested 351 in 464k telecom fraud/online gambling cases.
- Commercial flights/cross-border vehicle traffic to Macau surge in April.
Macau’s recent and upcoming changes to its legal framework regarding gaming, and with a focus on junkets, are paving the way for the SAR to continue on its upward trajectory. A compliance and AML expert notes that operators and jurisdictions themselves benefit from increased oversight, even if it comes at the cost of less junket operators, with transparency leading to success.
- MGM and MUST collaborate to cultivate young tourism talents.
- Odds On Compliance launches Playbook Europe.