Senate Bans Online Poker & In-Play Betting ASIA & OCEANIA
Australia’s Senate bans online poker and in-play sports betting, rejecting a proposal by a majority of 46-6 that would prevent online poker from being banned under the new Interactive Gambling Amendment Bill
Australia follows through on its threat to ban online poker and in- play sports-betting with new legislation
AUSTRALIA ONLINE GAMING
AUSTRALIA –Crown Resorts is still interested in being the casino operator behind ASF Consortium’s $3bn Gold Coast Integrated Resort. Despite media speculation concerning the financial viability of ASF Group, one of the expected members of the ASF Consortium, a source close to the deal has confirmed that Crown is still at the table.
“Crown is waiting to see what happens following the consultation phase when things become more concrete. They are still talking about the possibility of being the operator of the facility,” said ASF Director Louis Chien. “We are still in negotiations with Crown and are happy to continue to work with them. We have to step through the process with the government the right way to make sure everyone is happy and all parties are satisfied.”
As the Gold Coast Integrated Resort continues to progress through the State Government’s Integrated Resort Development process, ASF has released more design detail on the public open space, entertainment and leisure experiences, including five towers of up to 45 storeys, rooftop terraces and gardens, boardwalks, skywalks, parks, and beaches.
SOUTH KOREA –Morgan Stanley has downgraded its outlook on South Korea’s Kangwon Land casino following political uncertainty that resulted in President Park Geun-Hye being arrested. The analyst said that Kangwon Land’s revenues have fallen to ‘2014 levels.’
Morgan Stanley analyst Jay Lee said: “We are now at levels seen in 2014, with annual sales/net profit 17 per cent/27 per cent below our current 2017 estimates. We think key market concerns were around: regulatory uncertainties (losing monopoly license amid discussion on the second locals-open casino); and earnings momentum slowing.”
Morgan Stanley predicts an improvement but has dropped its full-year estimates, believing that GGR will come in at US$1.49bn for the year with non- gaming revenues coming in at $70.6m.
“We maintain our view on Kangwon Land to secure a monopoly licence by 2025,” Morgan Stanley added. “Slot machine upgrades planned in 2016 have been delayed to 2017, due to the domestic political situation (the administrative office associated with the ongoing political uncertainty is the regulatory authority of Kangwon Land, hence no progress was seen on strategy or plans in second- half 2016). Overall we reduce our revenue expectations due to delay in slot machine upgrades. As such, the growth momentum will return in second-half 2017.”
P28 NEWSWIRE / INTERACTIVE /
247.COM
Australia’s Senate has banned online poker and in-play sports betting. Te Interactive Gambling Amendment Bill 2016 has been under consideration in the Senate since late last year.
Te legislation states that online poker companies can’t offer games to Australians unless licensed and with no licensing available they have effectively been banned. Online operators saw the move coming. Vera&John was the first to leave Australia back in December followed by 888Poker in January.
Amaya’s Vice President of Corporate Communications Eric Hollreiser said back then: “Amaya continuously monitors the regulatory environments of the countries in which it operates, and where a regulatory model exists always seek to comply with it.
While Amaya currently offers poker to Australian customers through PokerStars under its Isle of Man global gaming license, if proposed legislation passes into law players located in Australia would likely be blocked from playing on our sites.”
Sports betting sites had been hurdling laws about in-play betting by using functionalities
Sega Sammy completes land sell- back in Busan
South Korea
Tokyo-based pachinko operator Sega Sammy has now completed its u-turn out of a previously announced project in Busan, South Korea, to concentrate its efforts on the development of Paradise City in Incheon.
Sega Sammy said it has reached an agreement with the Busan authorities to transfer land bought in 2013 for the project back to the Busan Metropolitan City. It has sold the land back for KRW94.4bn (US$83.4m) having bought it for the KRW119.3bn.
Sega Sammy said: “It is hereby notified that Sega Sammy has
reached an agreement with Busan Metropolitan City, South Korea regarding the details of a transfer of acquired land as a result of negotiation on its return. Te reasons are to concentrate management resources on Paradise City, the IR (integrated resort) business positioned as a growth business, and to further improve investment efficiency.
Te company will continue to advance the development of Paradise City, an IR facility under collaboration with South Korea’s Paradise Group, toward its opening in April 2017, and continue preparing for a full- fledged entry into IR business.”
such as click-to-call and cash-out mechanisms. As it made two appointments to its Australian management team last month, Ladbrokes Chief Executive, Jim Mullen said: “Te Australian business continues to go from strength to strength and has delivered impressive growth since we brought it in 2013.”
He added that it was important to preserve the ‘entrepreneurial spirit within the team, keep the momentum in the business and keep the brand as fresh and as customer focused as it always has been.’ Not all politicians have agreed with the amendments. Liberal Democrat Senator David Leyonhjelm slammed it as ‘nanny state legislation, based on the assumption that prohibition works’.
David Ean Leyonhjelm, a Senator for New South Wales, said he wants poker players to break the law and use virtual private networks to try to continue playing online. He had wanted politicians to exclude poker from the legislation.
He questioned why legislation was merely stopping poker online when it was widely available at casinos and bricks and mortar tournaments.
Cambodia
A controversial new casino, which made news for allegedly being sited on overlapping territory between Tailand and Cambodia, is actually located in Cambodia, 300m from the Tai border, and not in Ta Phraya National Park. Te news was confirmed by the chief of the National Parks Department who was responding to an allegation that the new casino was located in an overlapping area and may be sited in the national park. Te casino is reported to be situated close to the Sai Takoo border checkpoint in Buri Ram province. Te National Parks Department had been accused of being negligent in carrying out its duty, which resulted in the agency undertaking an examination of the official map of the national park map to prove that the casino was not located within the park.
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