“We are continuously evaluating evolving regulatory landscapes across the many markets we serve,” Super Group CEO Neal Menashe said. “Informed by years of operating our geographically diverse business, we remain confident about the long-term growth opportunities in front of us.”
Tax will be applied to the full-face value of a bet, rather than gross gaming revenue (GGR), making it a turnover-based tax. For online gambling, tax will be applied to the full value of all bets placed with operators.
Delta Corp, it noted it would ‘pursue all legal remedies available’ against tax claim
With land-based casinos, tax will be applicable on the face value of the chips purchased at each venue. With horse racing, tax will be applied on the full value of the bets placed with bookmakers and totalizators.
Super Group says the new rules mean the Indian market no longer commercially viable for the business. As such, it has dropped all services with immediate effect.
“This decision will be extremely detrimental to the entire Indian gaming industry, with the GST on deposit increasing liability up to 400-500%, and will lead to lakhs of job losses,” the AIGF said. The new tax rate is the second major change to India’s online gambling market this year. In January, India’s government also published a new set of rules to regulate online gambling.
The amendments state any online game offered must not be in violation of any existing laws. These include state-wide gambling bans. Proposals were also set out for self-regulatory bodies. These would comprise online gaming businesses and be responsible for creating rules for the industry.
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The Commonwealth of the Northern Mariana Islands’ Supreme Court confirmed the suspension of IPI’s exclusive casino license in August due to failures to pay its annual license fees since 2020.
IPI has also been investigated by the United States Department of Justice for money laundering in 2017. In 2019, the United States Department of Labor secured a $3.3 million judgment against IPI for wage and overtime violations. The Equal Employment Opportunity Commission filed a lawsuit against Imperial Pacific for sexual harassment and discrimination.
According to Chinese media reports, Ji Xiaobo’s aunt, the sister of his mom, Cui Limei, was given eight years and six months in prison for operating a casino.
In this case, Ji Xiaobo was mentioned as the leader of the criminal group. According to the statement, Ji Xiaobo is involved in a separate case. Ji hasn’t been seen in public for more than two years, allegedly hiding in Tokyo. Chinese media believe that the Chinese authorities are still on the hunt for him. Due to financial struggles, IPI is also facing various winding-up petitions in Hong Kong, as the company is Hong Kong-listed.
Trading in IPI shares on the Stock Exchange has been suspended with effect from April 1st, 2022.
In Thailand another operation against illegal gambling
Thailand's Department of Special Investigation (DSI) seized two luxury villas after dismantling an illegal gambling ring that allegedly turned over the equivalent of US$2 billion daily.
The size of the operation has shocked authorities, as nothing came close to this size in previous raids. A fortnight ago, representatives of the illegal online gambling company UFAV8 were arrested in Bangkok, allegedly turning over 500 billion dollars a year, which is a far cry from the figures revealed by the investigation. The two properties boast an exceptional view over Nai Harn Bay with a combined size of 1.5 square km.
Chinese police have arrested the founder of Tencent-backed game-streaming site DouYu on suspicion of operating a casino, in a rare case of holding a tech entrepreneur criminally responsible for activity on their company’s media platform.
Police in the small southwestern city of Dujiangyan on Wednesday confirmed they had arrested a 39-year-old man with the surname Chen, a day after DouYu said its chief executive and chair Chen Shaojie had been arrested by police on November 16.
Authorities in October as police probed pornography and gambling on DouYu’s platform. Gambling is illegal on the Chinese mainland. Since founding DouYu in 2014, Chen has built the company into one of China’s leading game-streaming and esports brands.
He has faced challenges more recently, including a failed plan by main backer Tencent to merge the group with rival Huya, and a tough crackdown by Beijing on livestreaming sites. Chen’s troubles increased after China’s powerful internet watchdog in May dispatched a team of officials to the company’s offices for a month of “intensive rectification and supervision” of “porn and vulgar content” discovered on the platform.
The arrest of another well-known Chinese executive is a setback to the ruling Communist party’s attempts to reassure entrepreneurs and reinvigorate the private sector. Chen’s weeks-long disappearance has already put many in the tech and entertainment industries on edge.
His arrest in Dujiangyan comes after authorities in the city last year arrested and then convicted a livestreaming group called Shanshanjiu Outdoor for running a gambling ring on DouYu’s platform.
According to the Dujiangyan court, users participated in Shanshanjiu’s lotteries by paying for virtual gifts, with lotto winners receiving cash prizes. The court said the group roped in more than 4mn participants who put up Rmb120mn ($17mn) over the course of 4,267 lottery draws.
In 2020, Chinese state media reported on another group called Changsha Countryside Death Squadron, which took in Rmb177mn from running gambling operations on DouYu.
In October, Macau welcomed a total of 2,757,308 visitors, reflecting a 19.8 percent increase compared to the previous month. The number of same-day visitors skyrocketed by 444.1 percent year-on-year, reaching 1,451,703, while overnight visitors experienced a notable rise of 316.4 percent, totaling 1,305,605.
March was a very good for hotel occupancy for Macau.
The average length of stay dropped slightly by 0.1 day year-on-year to 1.3 days.
During the first ten months of 2023, there was a significant 358.8 percent growth in visitor arrivals compared to the previous year, resulting in a cumulative total of 22,685,476 visitors. The number of overnight visitors exhibited a substantial increase of 460.8 percent, reaching a total of 11,542,405 visitors. Similarly, same-day visitors experienced a significant growth of 286.1 percent, totaling 11,143,071 visitors.
The W Macau hotel tower, receive approval to operate
The GDP growth in Q3 was mainly attributable to the strong performance of service exports, DSEC explained. This was attributable to an 820% year-on-year increase in visitor arrivals to 8.28 million, which was 83.5% of visitation during the same period in 2019. Exports of gaming services and other tourism services expanded by 781.4% and 255.4% respectively.
Casino operator Genting Singapore Ltd reported generated third-quarter revenue of just below SGD690.0 million (US$507.1 million), up 15.8 percent from the preceding quarter. Judged year-on-year, such revenue rose by 32.7 percent.
Genting Singapore Ltd it has cancelled “in their entirety” Japanese yen-denominated bonds
The company posted a net profit after taxation of nearly SGD216.3 million for the three months to September 30, a 46.7-percent sequential increase. The result was up 59.3 percent from the prior-year period, according to highlights of third-quarter performance published on Friday by the firm.
Hong Kong puts your hope on cruises for gambling
Genting Singapore is the operator of Resorts World Sentosa, one of Singapore’s two casino resorts. The group parent is Malaysian conglomerate Genting Bhd.
Marina Bay Sands in partnership with Scuderia Ferrari for Singapore F1
In Friday’s announcement, Genting Singapore said its board had approved a total investment of about SDG6.8 billion to upgrade and expand Resorts World Sentosa (RWS).
The figure includes “amounts which have been spent and the remainder to be invested over the next eight years,” stated the company. That was a referrence to a previous SGD4.5-billion pledge to the city-state’s authorities for the expansion of the complex, known as “RWS 2.0”.
Singapore’s Marina Bay Sands has become the latest integrated resort to be subject to a data security incident, informing members of its shopping rewards program that some personal data had been accessed without permission by a third party late last month.
In a letter sent to members, MBS Chief Operating Officer Paul Town explained that the incident took place on 19 and 20 October with the unknown third party having accessed the customer data of around 665,000 rewards program members.
The incident relates to the non-casino Sands Lifestyle Rewards program rather than the Sands Rewards Club, with Town noting the company does not believe its gaming membership program was affected.
In a statement MBS said it does “not have evidence to date that the unauthorized third party has misused the data to cause harm to customers.”
“After learning of the issue, we quickly launched an investigation, have been working with a leading external cybersecurity firm, and have acted to further strengthen our systems and protect data”
Data leak similar to Las Vegas casino hack?
While some users may feel the data leak experienced by MBS could be linked to the recent ransomware attacks experienced by two casinos in Las Vegas, it is a rather different situation.
In the ransomware incidents experienced by Caesars Palace and MGM in Las Vegas, the cybercriminals disrupted services and demanded a ransom payment from the organizations. However, MBS has not reported any ransom demands and claims that only the personal data of its members have been compromised. Despite this, the stolen data could be worth a fortune on the dark web, given the information it contains. For now, it remains to be seen what exactly caused the data leak in MBS and whether there was any other data that was compromised.
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