Good morning. The Australian Securities and Investments Commission doesn’t want to miss out on the regulatory action against casino operators and executives, going after the former Chief Casino Officer of The Star for breaches of directors’ duties. The settlement agreement marks a first, as ASIC is targeting a non-executive director. Meanwhile, cold water has been thrown on Thai punters’ local gaming aspirations, with proposals for proof of $1.5 million in fixed deposits for locals to gamble in future casinos. And in South Korea, INSPIRE is getting a rebrand, as Bain Capital takes over management rights for the property.
What you need to know
- ASIC settles with ex-Star executive Greg Hawkins over breaches tied to Macau junket operator’s criminal links.
- Thai punters would have to show $1.5 million in fixed deposits in order to be eligible to enter future casinos.
- Bain Capital has taken over the management of Mohegan INSPIRE resort in South Korea, after exercising rights.
On the radar
- Marina Bay Sands secures $9 billion syndicated loan: report.
- The Star receives $414M debt financing proposal from Oaktree funds.
- Stalking horse bidder for IPI’s assets makes $1.25M good faith deposit.
- Thailand’s casino bill moves toward Parliament debate by year-end.
- Macau MICE events rise, but participation drops in 2024.
- Melco Resorts receives global recognition for Corporate Sustainability efforts.
AGB Intelligence
AUSTRALIA
Former Star executive settles with ASIC over junket issue
Australian casino operators and executives continue to face the backlash from ties to Macau-based junkets years after they ended. In a first, the Australian Securities and Investments Commission (ASIC) has gone after a non-executive director, this time focusing on former The Star executive Greg Hawkins. ASIC has mandated Hawkins pay a near-$115,000 settlement and face an 18-month disqualification from managing ASX-listed companies.
Industry Updates
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- Tom Horn Gaming launches latest Hold & Win slot game: Majestic Coins.
Corporate Spotlight
1xBet’s 2024 Milestones: key achievements & heights of success
In 2024, 1xBet achieved significant breakthroughs and successes, solidifying its position in the iGaming industry. The brand secured major partnership deals, received prestigious awards, and showcased its innovations at the world’s leading forums.
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