Good morning,
The daily figures make it clear that both Japan and South Korea have now fallen into their worst periods of the Covid-19 crisis since the pandemic began, although so far their governments are taking opposite approaches toward managing the multiplication of new cases. However, the sun is still shining on one part of South Korea, which is the southern island of Jeju. At the end of this week, Lotte Tour Development is scheduled to launch the project upon which the ambitious firm is expected to rise or fall, which is the Jeju Dream Tower. Important regulatory issues round out our feature coverage today. In Australia, the top anti-money laundering watchdog has released an in-depth report into junket operators, concluding they are highly vulnerable to criminal activity and that casinos need to do more to mitigate the risks. And in India, we take a closer look at the state of Karnataka, which has ordered two racing clubs to suspend their operations of newly-authorized online betting platforms just as the courts and the administration are mulling a full ban on online gambling.
First, the news
- AUSTRAC urges casinos to mitigate junket risk
- Crown Resorts faces lawsuit over lower share prices
- Bangalore Turf Club stymied by Karnataka online betting struggle
- Singapore to enact unilateral Taiwan travel bubble from December 18
- Macau CEO likely to extend casino licenses by three years: MS
- Paradise Entertainment extends supply accord with chairman’s relative
- Yokohama submits IR implementation policy to city council
- DFNN shares receive boost from online gaming license
- PAGCOR donates US$7.2m for cancer treatment machine
- Resident tours and light shows ahead of Jeju Dream Tower opening
- CNMI Casino Commission says IPI to be held to culture of compliance
- FEC eyes opportunities in Hong Kong exodus to United Kingdom
What you need to know
AUSTRAC urges casinos to mitigate junket risk
Australia’s top anti-money laundering watchdog has released an in-depth report into junket operators, concluding they are highly vulnerable to criminal activity and that casinos need to do more to mitigate the risks. The assessment concludes that the main criminal threat facing the JTOs sector is money laundering. “Money laundering and financial crime enables serious criminal activity such as drug trafficking and human trafficking which causes harm to our communities,” AUSTRAC CEO Nicole Rose said.
Bangalore Turf Club stymied by Karnataka online betting struggle
A policy u-turn by the state government of Karnataka has left the Bangalore Turf Club and the Mysore Race Club hanging, shortly after they invested in the creation of online betting platforms to help them emerge from the Covid-19 slump. After receiving the green light from the state government in July, the two racing clubs launched their platforms and began patron operations last month. The government has now ordered these platforms to be suspended. This case also comes in the midst of a wider struggle over online betting in Karnataka state, which is considering following the example of a handful of other Indian states and issuing a full ban on online gambling.
Insights
MOVERS AND SHAKERS
Lotte Tour Development bets on its dream tower
At the end of this week, Lotte Tour Development will hold the grand opening for the Jeju Dream Tower, an ambitious project, forty years in the making, upon which the firm is expected to either rise or fall. This firm, which traditionally franchises travel agencies, offers home-based travel businesses, and provides leisure-travel information, is well aware of what it has riding on this one massive venture. This reality is best symbolized by the fact that, having been established in Seoul in 1971, it is now moving its company headquarters after nearly half a century into this tower on the distant island of Jeju. And quite a tower it is, dwarfing any other structure on the island.
FIRST WORD
Covid resurgence in Northeast Asia
As we enter the holiday season and the final week of full daily gaming industry coverage by Asia Gaming Brief, we must regretfully acknowledge that for at least a couple of the key jurisdictions we cover, conditions have clearly gone backwards rather than forward. The daily figures make it apparent that both Japan and South Korea have now fallen into their worst periods of the Covid-19 crisis since the pandemic began, although so far their governments are taking opposite approaches toward managing the multiplication of new cases.
Supplier Special
Knowledge trumps content in Asia igaming
In Asia’s complex and diverse i-gaming landscape, having the right content means business success only if one more key ingredient is included – market knowledge. Solid Gaming may have been focusing on Asia for only 3 years but its penetration amongst operators is surely a testament to its local know-how.
Spintec appoints Mitja Dornik to help expansion
Spintec has appointed Mitja Dornik to its international sales team and says his business development skills will help the gaming supplier expand in the growing Asian and Australian markets.
1xBet wins SBC Award for eSports operator of 2020
1xBet betting was named eSports operator of the year at the 2020 SBC Awards in an online ceremony on Dec. 9th. Furthermore, SBC awarded 1xBet the title of Highly Commended in two other categories – “Marketing Campaign of the Year” and “Sponsorship of the Year,” while also being shortlisted for “Football Sportsbook of the Year,” “Best Mobile Operator App” and “Best Affiliate Program.”
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