DATELINE GLOBAL november2011
mated to be in excess of $10 billion annually, is arguably the single most popular form of gambling for Canadians. However, only $450 million of that is wagered through the current legally regulated provincial sports lottery products.” Bill Rutsey, the association’s chief executive offi-
STRAIGHT UP A
Canada considers single-event sports betting
ccording to a statement from the Canadian Gaming Association, “Sports wagering, esti-
Joe Comartin, a member of the Canadian Parliament from the New Democratic Party, recently introduced legislation in the House of Commons to legalize single-event sports wagering.
cer, said, “The reality is that Canadians are wagering on sports predominantly through illegal means either with bookies or online. This bill will enable sports wagering to occur in safe and regulated envi- ronments.” Currently, constituents in Windsor MP Joe
Comartin’s district travel to Detroit to gamble, he said. If his legislation passes, individual provinces could approve single-event sports betting.
Credit Crunch Sydney’s Star chasing more VIP loans
experiencing higher overdue loans as a result of an increased emphasis on VIP clients. The Sun-Herald reports that a year ago, credit
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extended to players accounted for just 1 percent of the then-Star City Casino’s cash earnings. That figure has grown to 12.5 percent, according to financial statements. A spokesman for the Star, Brad Schmitt, said the loans were part of doing business with a larger propor-
tion of high-roller clients, who have 90 days to repay. Schmitt said overdue loans are not necessarily bad debt. “If we thought we weren’t going to get it back, we would have made provisions in the accounts,” he said. Echo Entertainment is the casino division spinoff from gaming operator Tabcorp. The Star refurbishment
for more VIP appeal and the rebranding are costing almost AUS$1 billion. The casino is currently undergoing routine licensing review by the state Casino, Liquor and Gaming
Authority.
Accounting For Money Town asks OLG to maintain payments
E 10
ffective April 1, the Ontario Lottery and Gaming Corporation City switched from
Canadian Generally Accepted Accounting Principles to the International Financial Reporting Standards. As a result, the Town of Rayside-Balfour could lose $73,000 in annual slot revenue payment. The town signed an agreement with OLG to
share in slot machine revenue from the Sudbury Downs slot machine program in 1999. It received $2.5 million from the program in 2010, up from $1.9 million in 2000. The municipality receives 5 percent of the net win from slots. The City Council has requested that OLG
amend the Racetrack Municipal Contribution Agreement to assure it will not experience decreased revenues. OLG has the authority to adjust the per- centage share paid to the municipalities.
Global Gaming Business • November 2011
he flagship property of Australia’s Echo Entertainment Group, the recently renamed Star, is
“Canada has enjoyed legalized parlay-style
sports wagering for many decades, but the current restriction that prohibits wagering on a single sport- ing event does not reflect the modern reality for sports bettors. With the passage of this bill, Canadians will have a legal and regulated product for wagering on the individual sporting events of their choice,” said the association’s statement.
No Say Northern Marianas governor vetoes casino bill
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he governor of the Commonwealth of the
Northern Marianas Islands has vetoed a bill that sought to legalize casino gaming on Saipan. The bill was passed not
by the CNMI House but by representatives of the local Saipan legislative district. According to the Saipan Tribune, Governor
Northern Marianas Islands Governor Benigno R. Fitial
Benigno R. Fitial vetoed the bill on constitutional grounds, saying it had been “irregularly intro- duced and passed without authority, and is invalid on this basis.” Fitial said the legislature may enact a local
law that affects a single senatorial district, but that the legislative delegation of a single district cannot enact a commonwealth law which would affect commonwealth interests. Another House bill on casinos has been
worked on by Rep. Rafael Demapan and other majority members. Rather than pass a law outright, the Senate
wants a referendum on casino gaming, and has enlisted students of Northern Marianas College to conduct a special survey on the subject on November 4.
Cashless I
Casinos British Columbia targets money laundering
n an effort to crack down against money laun- dering, the Gaming Policy and Enforcement
Branch of the British Columbia government announced it will gradually phase out the use of cash at casinos. Players will be allowed to cash in using certi-
fied checks or electronic transactions. Wins between $5,000 and $10,000 also will be paid out in checks. Casino staff will be trained to rec- ognize money laundering and to work closely with authorities to identify and track potential launderers. “A key objective is to transition toward
greater use of electronic funds by making non- cash options more accessible and attractive to customers, while not discouraging legitimate play,” said a spokesman from the Ministry of Public Safety.
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