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Sunday, December 11, 2022
Casino News Media Blog - Casinos Around The World...
Casino News Media Blog
Casinos Around The World
Sydney, Australia
As one of the most-visited cities in Australia, Sydney has an allure that is hard to resist. Set on the coast of New South Wales, Australia’s largest city is home to some of the country’s most famous sights, such as the Sydney Opera House, Sydney Harbour Bridge and Bondi Beach. Although casinos don’t immediately come to mind, Sydney offers some of the county’s best casinos. The Star is the largest and most well-known, with over 100 table games and 1,400 slots spread over two floors. Also worth a visit is The Crown, newly opened and offering a members-only VIP casino experience.
London, UK
Dating all the way back to Roman times, London is a city with a rich historical and cultural background. The UK capital has numerous tourist hotspots, including Trafalgar Square, Buckingham Palace, and Big Ben, and well over 100 museums to explore. Equally as populous are London’s casinos. There are plenty to choose between, with The Hippodrome, The Palm Beach Casino and The Empire being some of the top picks. While planning your London trip online, you can also look up some of the best payout online slots UK before your trip.
Atlantic City, USA
Founded in 1854, Atlantic City made a name for itself in the USA as one of the East Coast’s premier holiday resorts. By the end of the 20th century, the city was best known for its casinos, beaches and Boardwalk. Resorts Casino provides history and entertainment, all rolled into one as Atlantic City’s first and oldest casino. Tropicana Casino Resort and Bally’s Atlantic Casino are both also worth a visit if time allows. No visit to Atlantic City is complete without a seaside stroll along the Boardwalk, a climb to the top of Absecon Lighthouse or a game at one of the USA’s oldest casinos.
Reno, Nevada, USA
Now considered Las Vegas’s little sister, Reno, Nevada, was the Casino capital of the USA until the 1980s. Along with its relaxed gambling laws, for a long time, Reno also had more relaxed divorce laws than other US states, making it a popular place to visit for couples wanting a divorce. Visit the National Automobile Museum and the Reno Arch or get out into nature at the nearby Lake Tahoe. Today, the city is best known for being a technological centre, however, its casinos are also still popular, with Peppermill Resort Casino, Atlantis Casino Resort and Eldorado Resort Casino being just three of the many you could choose to visit.
San José, Costa Rica
San José is Costa Rica’s seat of national government and the country’s most important city due to its status as the most visited city in Central America. As a historical and culturally significant city, San José is home to many museums, including the National Museum of Costa Rica, and the Museum of Pre-Columbian Gold. Casinos in Latin America are a little harder to find, with Barceló San José Palacio Spa & Casino or Hotel and Casino Taormina being two of the most popular. They offer a quieter, more informal feel but are still worth a visit.
Nassau, Bahamas
Made up of an archipelago of nearly 700 coral islands, the Bahamas has much to offer its visitors. A top-rated holiday destination due to its proximity to Florida, there are plenty of award-winning beaches to relax upon, watersports to enjoy and even some world-famous swimming pigs! One of the most iconic sights of Nassau, Bahamas capital, is the Royal Towers at Atlantis Resort, a luxury hotel, waterpark and casino. If casinos are what you’re after, you are spoilt for choice as there is also the Baha Mar Casino and Island Luck Casino in the city.
NSW casino regulator won’t recognize The Star Sydney’s self-appointed independent monitor - November 2022
The NSW Independent Casino Commission – the recently formed regulatory body tasked with overseeing The Star Sydney and Crown Sydney – has informed Star Entertainment Group that it does not endorse the appointment of the company’s own independent monitor and will not recognize the monitor’s actions.
According to information filed by Star, operator of The Star Sydney, this week, the company was informed of the NICC’s view by the Special Manager specifically appointed by the NICC to oversee The Star Sydney’s operations.
Star was recently found unsuitable to retain its casino license for The Star Sydney following a review into its operations.
However, it continues to be involved in the day-to-day running of the casino under the supervision of the Special Manager, Nicholas Weeks of Wexted Advisors, following his appointment by the NICC in mid-October. As reported by IAG, Weekes will oversee operations of The Star Sydney for an initial period of 90 days, with his initial task being to determine whether Star’s failings can be rectified and whether it can return to suitability.
Casino News Media Blog: U.S. to appeal dismissal of Chinese agent lawsuit against casino tycoon Wynn
Casino News Media Blog
U.S. to appeal dismissal of Chinese agent lawsuit against casino tycoon Wynn
The U.S. Justice Department will appeal the dismissal of a lawsuit against casino magnate Steve Wynn, who it accused of acting as a Chinese agent.
Wynn defeated the lawsuit in October when a federal judge in Washington, D.C., said the casino tycoon could not be ordered to register with the Justice Department as a foreign agent of China.
".... the Attorney General of the United States of America hereby appeals to the United States Court of Appeals for the District of Columbia from the judgment of this Court entered on the 12th day of October, 2022, granting Defendant's Motion to Dismiss," the Justice Department said in a filing on Friday.
The Justice Department in May sued for a court order forcing Wynn, the former CEO of Wynn Casinos, to register under the Foreign Agents Registration Act (FARA).
Officials alleged that Wynn had lobbied then-U.S. President Donald Trump on China's behalf in 2017. Wynn's attorneys denied that he was ever an agent of the Chinese government.
U.S. District Judge James Boasberg said in October that, because any relationship between Wynn and the Chinese government ended in 2017, the Republican donor cannot be required to register as an agent. The judge pointed to past precedent in D.C. federal court in making the ruling.
The judge said he was not determining whether Wynn had lobbied on China's behalf. He also said the Justice Department could pursue criminal sanctions against Wynn for failing to disclose the alleged lobbying, if the statute of limitations had not expired.
Star’s Queensland casinos to stay open after $100m fine
The Star Entertainment Group’s Brisbane and Gold Coast casinos will stay open under the supervision of a special manager imposed by the Queensland government after it levied a $100 million fine against the company.
Queensland Attorney-General Shannon Fentiman said Star’s operations would be overseen by Nicholas Weeks, the same independent monitor imposed on its Sydney harbourside casino by the NSW gambling regulator.
But Ms Fentiman has put Star on 12 months’ notice to clean up its act or its casino permits for Brisbane and the Gold Coast will be suspended for 90 days.
“Should the Star make satisfactory progress towards rectifying these issues, the special manager and I may determine to postpone or rescind the suspension of licences,” Ms Fentiman said.
The record penalty, the maximum under new Queensland laws passed in August, and the imposition of a special manager follows a short inquiry led by Robert Gotterson, SC.
Mr Gotterson found the company had lured high rollers who were banned from casinos in other states to gamble at its Queensland casinos, and that there were “serious deficiencies” in the company’s anti-money laundering and counter-terrorism financing (AML/CTF) program.
The review, which was released in October, also found Star deliberately misled the gaming regulator to cover up China UnionPay transactions as hotel expenses when their primary use was gambling.
The Queensland move echoes the NSW and Victorian governments’ appointment of a special manager to oversee Star Sydney and Crown Melbourne. Star Sydney’s permit was suspended for 90 days last month.
The NSW Independent Casino Commission (NICC) chief commissioner, Philip Crawford, also slapped a maximum $100 million fine on Star for its widespread wrong-doing, revealed in the Bell review, bringing the total fines from state regulators to $200 million.
The company is also facing massive fines from the financial crime watchdog, which is suing Star for allegedly allowing 117 high-risk VIP patrons to churn billions of dollars of dirty cash through its Sydney, Brisbane and Gold Coast casinos for six years.
AUSTRAC’s statement of claim shows foreign agents, Ponzi scheme scammers, accused sex slave traders, a murderer for hire, loan sharks and drug traffickers were allowed to bet billions of dollars at Star for years, despite information of alleged nefarious activity being publicly available.
Star placed its shares in a trading halt on Friday morning before the announcement. Star shares were 0.4 per cent higher at $2.54 before they were suspended.
Consistency across jurisdictions
Ms Fentiman appointed former Sunsuper executive Terri Hamilton to assist Mr Weeks with the oversight of Star’s Queensland operations.
“Having a special manager that monitors the operations of The Star in both states will ensure they will be looked at as one operating entity and provide consistency across jurisdictions,” she said.
“It’s also important that we have a person on the ground here in Queensland, which is why Ms Terri Hamilton will be the Queensland manager assisting, and will join Mr Weeks’ very skilled and capable team.”
Mr Crawford backed Queensland’s decision to appoint Mr Weeks because it “will further support our ongoing collaboration with our Queensland regulatory counterparts”.
“This will ensure The Star acts consistently and complies with their obligations – no matter which state they operate in.”
Ms Fentiman said this was an opportunity for Star to return to suitability, but “they have a long way to go”.
“If relevant entities do not take significant steps to improve their operations, we will not hesitate to take further action.”
Ms Fentiman said the government would send the bill to Star for the cost of the special manager’s work.
She gave the casino operator 12 months to pay the $100 million fine and said Star’s $3.6 billion Queen’s Wharf casino, hotel and apartment development in Brisbane’s CBD will be unaffected by the penalty.
Last week, the Australian Transaction Reports and Analysis Centre (AUSTRAC) filed its case against Star Sydney and Star Queensland in the Federal Court alleging that the casino group facilitated money laundering that amounted to “serious and systemic” breaches of federal law.
AUSTRAC said Star had breached the Anti-Money Laundering and Counter-Terrorism Financing Act “innumerable times” since 2016. Each breach attracts a maximum penalty of $22.2 million.
Rival Crown Resorts faced similar court action and had stashed away more than $600 million to pay for expected fines levied by the states and AUSTRAC, contributing to its $945 million full-year loss reported last week.
Casinos Around The World
Sydney, Australia
As one of the most-visited cities in Australia, Sydney has an allure that is hard to resist. Set on the coast of New South Wales, Australia’s largest city is home to some of the country’s most famous sights, such as the Sydney Opera House, Sydney Harbour Bridge and Bondi Beach. Although casinos don’t immediately come to mind, Sydney offers some of the county’s best casinos. The Star is the largest and most well-known, with over 100 table games and 1,400 slots spread over two floors. Also worth a visit is The Crown, newly opened and offering a members-only VIP casino experience.
London, UK
Dating all the way back to Roman times, London is a city with a rich historical and cultural background. The UK capital has numerous tourist hotspots, including Trafalgar Square, Buckingham Palace, and Big Ben, and well over 100 museums to explore. Equally as populous are London’s casinos. There are plenty to choose between, with The Hippodrome, The Palm Beach Casino and The Empire being some of the top picks. While planning your London trip online, you can also look up some of the best payout online slots UK before your trip.
Atlantic City, USA
Founded in 1854, Atlantic City made a name for itself in the USA as one of the East Coast’s premier holiday resorts. By the end of the 20th century, the city was best known for its casinos, beaches and Boardwalk. Resorts Casino provides history and entertainment, all rolled into one as Atlantic City’s first and oldest casino. Tropicana Casino Resort and Bally’s Atlantic Casino are both also worth a visit if time allows. No visit to Atlantic City is complete without a seaside stroll along the Boardwalk, a climb to the top of Absecon Lighthouse or a game at one of the USA’s oldest casinos.
Reno, Nevada, USA
Now considered Las Vegas’s little sister, Reno, Nevada, was the Casino capital of the USA until the 1980s. Along with its relaxed gambling laws, for a long time, Reno also had more relaxed divorce laws than other US states, making it a popular place to visit for couples wanting a divorce. Visit the National Automobile Museum and the Reno Arch or get out into nature at the nearby Lake Tahoe. Today, the city is best known for being a technological centre, however, its casinos are also still popular, with Peppermill Resort Casino, Atlantis Casino Resort and Eldorado Resort Casino being just three of the many you could choose to visit.
San José, Costa Rica
San José is Costa Rica’s seat of national government and the country’s most important city due to its status as the most visited city in Central America. As a historical and culturally significant city, San José is home to many museums, including the National Museum of Costa Rica, and the Museum of Pre-Columbian Gold. Casinos in Latin America are a little harder to find, with Barceló San José Palacio Spa & Casino or Hotel and Casino Taormina being two of the most popular. They offer a quieter, more informal feel but are still worth a visit.
Nassau, Bahamas
Made up of an archipelago of nearly 700 coral islands, the Bahamas has much to offer its visitors. A top-rated holiday destination due to its proximity to Florida, there are plenty of award-winning beaches to relax upon, watersports to enjoy and even some world-famous swimming pigs! One of the most iconic sights of Nassau, Bahamas capital, is the Royal Towers at Atlantis Resort, a luxury hotel, waterpark and casino. If casinos are what you’re after, you are spoilt for choice as there is also the Baha Mar Casino and Island Luck Casino in the city.
NSW casino regulator won’t recognize The Star Sydney’s self-appointed independent monitor - November 2022
The NSW Independent Casino Commission – the recently formed regulatory body tasked with overseeing The Star Sydney and Crown Sydney – has informed Star Entertainment Group that it does not endorse the appointment of the company’s own independent monitor and will not recognize the monitor’s actions.
According to information filed by Star, operator of The Star Sydney, this week, the company was informed of the NICC’s view by the Special Manager specifically appointed by the NICC to oversee The Star Sydney’s operations.
Star was recently found unsuitable to retain its casino license for The Star Sydney following a review into its operations.
However, it continues to be involved in the day-to-day running of the casino under the supervision of the Special Manager, Nicholas Weeks of Wexted Advisors, following his appointment by the NICC in mid-October. As reported by IAG, Weekes will oversee operations of The Star Sydney for an initial period of 90 days, with his initial task being to determine whether Star’s failings can be rectified and whether it can return to suitability.
Friday, December 9, 2022
Wednesday, December 7, 2022
Casino News Media Blog: Vegas Reports 2022 FIFA World Cup Betting Down
Vegas Reports 2022 FIFA World Cup Betting Down
When we last enjoyed a World Cup, FanDuel and DraftKings were for the most part nonexistent, at least in their current sportsbook incarnation. Prior to this period, the two companies operated as successful daily fantasy sports businesses.
It was May of 2018 when the U.S. Supreme Court overturned decades of sports gambling prohibition for most states outside Nevada. FanDuel, DraftKings and a few other sites conducted business in a limited number of states when that year's FIFA World Cup took place.
DraftKings described the World Cup as “the big one”. Bloomberg Intelligence’s Brian Egger estimates $1.7 billion in US wagers on the World Cup. That is described as a mere fraction of the amount typically wagered on the Super Bowl.
For FanDuel's parent company, €340m in bets were anticipated. Flutter Entertainment plc doesn't just own FanDuel, they run a number of top international gambling brands that include the likes of Paddy Power and SkyBet.
According to Sportradar, bets on the World Cup totaled approximately €136 billion in 2018.
Jay Kornegay, vice president of race and sports operations at Westgate Las Vegas, told the Associated Press that World Cup matches during a more typical time of the year take in around the same amount of money as your average NFL game in Vegas. This year’s matches are more comparable to college basketball.
“We knew going into this World Cup and it taking place during the fall and sharing that main stage with football, basketball and hockey was going to take some of that limelight away from the World Cup,” Kornegay said. “Normally, it has the main stage all to itself in the summer. This year, it’s different and it’s definitely showing.”
Adam Pullen, Caesars Sportsbook assistant director of trading, took into consideration the two dozen plus states that have legalized sports betting since the 2018 World Cup and how it is difficult to assess a true percentage increase. It will most certainly be up.
“It’s comparing apples to oranges, but at least we’ll see how it does compare and how drastic a difference it is,” Pullen told the AP. “I’ve been pleased. I think soccer over the years keeps getting bigger and bigger.”
Even with the U.S. out of the World Cup early, Kornegay and Pullen do anticipate an increase in betting action during the knockout stage right up through the final. Team USA still playing would most certainly help boost numbers.
“It brings the casual fan in, the patriotic fan,” Pullen said. “If they know the U.S. is playing, then they’re more likely to place a bet on another match. It’s always good for the U.S. to be involved, but you have people who are dedicated followers of the sport and they’re going to bet not only the World Cup, but after the World Cup is over they’ll be back betting the Premier League, the German and Italian leagues.”
The world is your oyster.
Tuesday, December 6, 2022
Casino News Media Blog: Wynn Resorts completes sale and leaseback of Encore Boston Harbor
Wynn Resorts completes sale and leaseback of Encore Boston Harbor
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Massachusetts (Boston Harbor) - Wynn Resorts December 1 completed a deal for the sale of Encore Boston Harbor’s land and real estate assets to Realty Income Corporation. The $1.7 billion cash sale represents a 5.9% cash cap rate with all necessary regulatory approvals finalized. Net proceeds of the sale result in Wynn’s global liquidity position of $4.4 billion. Wynn Resorts will continue to operate Encore Boston Harbor through a triple net lease arrangement with Realty Income. The lease has an initial annual rent of $100 million for a term of 30 years, with one 30-year renewal option.
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