Good Morning. ‘Medium-risk’ for money laundering. Not a tagline a jurisdiction wants to have, especially when it’s evaluating itself. But the Isle of Man has done just that in a new report, focusing on transparency as it aims to put scandals firmly in its past. Meanwhile, the FATF is aiming for increased oversight on the use of stablecoins, pushing for issuers to be able to track, freeze and burn assets which could be being used for illicit exchanges. And in the Philippines, Bloomberry is focusing back home by fully exiting its South Korean operations which failed to meet initial expectations.
What you need to know
- Isle of Man rates its gambling sector as ‘medium-risk’ for money laundering in a new National Risk Assessment.
- FATF wants stablecoin issuers to know location on secondary market and be able to freeze, burn, or withdraw assets.
- Bloomberry completes its exit from South Korea’s casino market, selling off its underperforming operation to focus on the Philippines.
On the radar
- GKL February casino sales increased 17.3% year-on-year to $25.8M.
- Paradise Co. sees 24% yearly increase in February casino sales.
- Goa finalizes long-awaited rules to tighten control over casinos.
- PAGCOR sets March 29th launch for nationwide bingo event.
- YOHO Group plans $3.7M food court at former Greek Mythology Casino.
- Kangwon Land appoints interim CEO after Choi Cheol Kyoo resigns.
AGB Intelligence
ISLE OF MAN
‘Medium-risk’ for money laundering: risk assessment
The Isle of Man has proactively ranked its own gambling sector as ‘medium-risk’ for money laundering, in a new National Risk Assessment. The ranking comes as the jurisdiction’s Gambling Supervision Commission has revoked or seen the surrender of multiple licenses amongst increased scrutiny on offshore licensing centers. The sector still contributes heavily to the Isle of Man economy, with authorities taking a keen focus on transparency going forward in an attempt to return to its heyday.
Industry Updates
- International Gaming Standards Association announces 2026 Board.
- Soft2Bet returns as Headline Partner for NEXT Summit: New York 2026.
- Pragmatic Play launches new Drops & Wins season with a €25M prize pool.
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