Casino

Casino gets green light

Thailand is set to proceed with the construction of an entertainment mega-complex including casinos, Deputy Finance Minister Julapun Amornvivat has announced.

The bill would effectively legalize land-based casinos in the country.

A bill supporting the construction of the complex garnered the support of over 80% of respondents in an online hearing. The bill would effectively legalize land-based casinos in the country.

The bill will now be amended following the consultation and discussed with coalition partners before being presented to cabinet.

Thailand’s black market

Most forms of gambling, except the national lottery and betting on horse racing are illegal in Thailand. Former governments have attempted to liberalize gambling laws in the country but have typically met fierce opposition from conservatives.

However, underground casinos remain prevalent in Thailand, and illegal online gambling has continued to proliferate.

Meanwhile, many of Thailand’s neighbors, including Myanmar, Singapore, and Cambodia, have legalized casinos, drawing in significant revenue from both tourism and domestic gamblers.

Former Prime Minister Thaksin Shinawatra had previously attempted to legalize casinos, and backed the plan in a dinner speech last month, citing the potential revenues from taxing an already thriving illegal market.

Former Prime Minister Srettha Thavisin had given his support to the bill, but was ousted by a court decision on August 14. He was then replaced by his ally and daughter of Shinawatra, Paetongtarn Shinawatra, who pressed ahead with the plans.

Legislation set out

Draft regulations for legalized casinos in Thailand allow for an initial license of 30 years, which must be renewed every ten years. Gambling licenses will cost TBH 5bn ($148.48m), with an additional annual fee of TBH 1bn ($29.69m). The government also plans to introduce a 17% tax on gaming revenue for all license holders.

the casinos will mostly be aimed at foreign tourists

Thai nationals will also have to pay a TBH 5,000 ($148) fee every time they enter a gambling property – a clear sign that the casinos will mostly be aimed at foreign tourists.

A host of operators have spoken about Thailand as a potential market in recent months. Wynn Resorts and MGM Resorts International have both named the country as a potential target for expansion, and Las Vegas Sands CEO Rob Goldstein mentioned the country as a potential next destination in April this year.

“It’s a very, very exciting market in a lot of levels. Just the sheer size of population, the accessibility and the willingness of people travel to Thailand,” said Goldstein. “It’s obviously, I think, number one resort destination city in Asia. It’s early days, although we still have work to do with the numbers and understanding it.”

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Lengthy allegations

Casino inspectors have published an open letter in which they express they have no confidence in the current Maine Gambling Control Unit Executive Director, claiming that Milton Champion created a toxic workplace, and highlighting multiple issues that arose during his time in charge.

letter alleged the chief even retaliated against the group and the individuals

Each of the state’s nine casino inspectors put their name to the letter published on Wednesday and talked about the “lack of respect” Champion showed for the legal rights and processes they’re entitled to under their union contract. The letter alleged the chief even retaliated against the group and the individuals, leading to a toxic workplace.

The inspectors are seeking Champion’s removal from the position he has held since 2016, as they believe he lacks the competence to properly run the department.

Serious concerns

Among the allegations is that Champion tried going around the Maine Gambling Control Board’s oversight to make his own decisions on important matters. He has also made attempts to deregulate the state’s casinos without getting feedback from the public or current stakeholders.

The inspectors even have ongoing complaints regarding incorrect pay and say their boss has refused to come to the table to discuss changes regarding remuneration and work schedules, which means that inspectors no longer oversee the operations at the two casinos in Maine on Sundays or Mondays.

An uncertain next step

Maine Gambling Control Board Chair Steven Silver acknowledged to the Portland Press Herald that he saw the letter and he has some concerns about the decision to alter the schedules. He did note that everything had run “very smoothly and very profitably” under Champion’s leadership.

not sure if his own board will be taking any action on the back of the letter

Silver said that any issues regarding the work environment are under the purview of the Department of Public Safety and he’s not sure if his own board will be taking any action on the back of the letter.

This is not the first time Champion has courted controversy, serving a one-week suspension in May 2023 after tweets came to light of him using racist connotations and sexist terms.

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Significant incident

DraftKings has to pay a $19,000 fine in Connecticut after an issue with one of its online slots led to players failing to notch any wins in 20,000 spins.

The “Deal or No Deal Banker’s Bonanza” game launched on the DraftKings Casino in August 2023, with 522 users playing it during the initial release week.

prevented winners despite the slot game’s supposed average payout of 95%

Connecticut’s Department of Consumer Protection’s Gaming Division provided these details to the CT Insider after the conclusion of an official investigation that discovered a software glitch that prevented winners despite the slot game’s supposed average payout of 95%.

Delays in reporting the error

While DraftKings subsequently refunded the stakes totaling $23,909 to the impacted users, the operator didn’t tell them the reason. Neither DraftKings nor White Hat Gaming, the creator of the game, reported the issue until the state’s gambling regulator got in touch after receiving complaints from customers.

In addition to the $19,000 penalty for DraftKings, White Hat Gaming has to pay a $3,500 fine. The former has to pay a bigger sum because of how it initially responded to users’ complaints about the error.

spokesperson for DraftKings said the issue was contained to Connecticut

Responding to the CT Insider’s comment request, a spokesperson for DraftKings said the issue was contained to Connecticut and it found no problems with any other games from White Hat.

Preventing future issues

Off the back of the penalties, the two companies also agreed to implement more stringent internal controls, such as more extensively testing new games before they go live to ensure payouts are accurate.

DraftKings also needs to regularly inform the regulator about new games and prove their payout rates are greater than zero, while immediately reporting any issues that arise.

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A man filed a lawsuit last week against The Venetian Resort Las Vegas after he was allegedly bitten by a scorpion on his testicles when lying in bed. Michael Farchi claims the incident ruined his sex life with his wife and left him with PTSD.

The incident took place at the end of 2023; the 62-year-old described the sensation of the sting as getting stabbed by “sharp glass or a knife.”

Farchi saw a scorpion on his underwear upon running into the bathroom. After reporting the matter to staff, he claims they laughed about it and didn’t take him seriously. He underwent treatment at both the Summerlin Hospital in Las Vegas and the UCLA Medical Center in Los Angeles.

contends that The Venetian was aware of a scorpion infestation

The California resident’s complaint alleges that it is the property’s duty to ensure that their rooms are clean and safe from any types of bugs or creatures. He also contends that The Venetian was aware of a scorpion infestation following some construction work.

Farchi wants damages for the suffering he has experienced since the incident on December 26.

The post Man Sues Venetian Las Vegas After Scorpion Sting Left Him With PTSD and Ruined Sex Life appeared first on Vegas Slots Online News.

Billionaires lining up

The removal of Thailand’s Prime Minister Srettha Thavisin in mid-August because of a bribery scandal has done little to affect the optimism of major investors hoping to cash in on the national plan to establish IR casino resorts in the country by 2027.

emboldened the interest of would-be IR casino suitors

Instead, an in-depth column in Asia Gaming Brief on Tuesday by former Genting and Hard Rock International executive Daniel Cheng, revealed the opposite to be true. The appointment to Prime Minister of Paetongtarn Shinawatra, daughter of casino-supporting former PM Thaksin Shinawatra has, over the past two weeks, emboldened the interest of would-be IR casino suitors.

Thaksin’s first public speech last week, in which he stressed the importance of the government prioritizing casino legislation, has opened the floodgates of interest. As Cheng noted, following the ex-PM’s dinner event speech, “a veritable row of Thai billionaires quickly formed as major conglomerates lined up for the lucrative entertainment complex licenses.”

Cheng stated that each suitor was on the Forbes list of Thailand’s richest people and that they are preparing IR projects from Bangkok to Phuket. One of the plans was unveiled last week by The Royal Turf Club of Thailand (RTCT) for a THB200bn ($5.8bn) IR casino project in the Thai capital, a move allegedly backed by the Thai royal family.

Opportunity knocks

An RTCT spokesperson told the media that its proposed The Royal Siam Haven complex will “cover a vast area” and include horse racing in addition to casinos. The spokesperson added that an investment partner has already signed a memo of understanding “with five foreign and four Thai partners.”

Five major international firms, namely Caesars Entertainment, Hard Rock International, Las Vegas Sands Corporation, MGM China Holdings Limited, and Wynn Resorts have all expressed interest in entering the IR race.

One of the Thai names recently linked to the IR project is Supaluck Umpujh. The business matriarch owns the Mall Group and hosted the ex-PM’s dinner talk at her firm’s flagship mall Siam Paragon.

reportedly mulling repurposing an existing mixed-use real estate project in the tourist hub of Phuket

Cheng cited Thai media reports stating Umpujh’s Mall Group plans to revamp a $1.5bn development currently going up in Bangkok’s Bang Na suburb to secure an IR license. The Mall Group is also reportedly mulling repurposing an existing mixed-use real estate project in the tourist hub of Phuket as an IR.

One of the first locations suggested for a Thai IR is the U-Tapao Airport and Eastern Airport City Project, an $8.5bn development awarded in 2020 to U-Tapao International Aviation Company (UTA). With 45% stock, Bangkok Airways is the largest shareholder in UTA, which is owned by business tycoon Prasert Prasarttong-Osoth, who ranks sixth on Thailand’s Forbes list.

According to Cheng, the Prasarttong-Osoth family’s holdings include Thailand’s biggest private hospital operator, BDMS. Ownership of the hospital business opens up the potential of a medical tourism-focused IR if UTA secures a license.

The third Thai entity making moves is led by two brothers who hold second spot on the Forbes list, after they built up a vast telecoms and food empire. The Chearavanont siblings’ Charoen Pokphand Group is eyeing an IR in Makkasan, which is in the heart of Bangkok.

Makkasan will be a major station on the high-speed rail link between U-Tapao, Don Mueang, and Suvarnabhumi Airports. Charoen Pokphand is building the project with the State Railway of Thailand as part of a $6.5bn “public-private partnership deal.”

Macau the inspiration

The interest shown by Thai billionaires in the IR opportunity stands in stark contrast to Japan, where private investors were cautious about casino investments. Japan’s caution means its first IR in Osaka is expected to open by fall 2030, whereas Thailand expects to open its first IRs in 2029, or by 2027 as ex-PM Thavisin had hoped for.

There is a huge appetite for gambling in Asia, with the success of Macau inspiring the likes of Thailand and Japan to enter the IR market. According to analysts, Macau’s GGR for August hit 81% of 2019s, its best performance since the COVID-19 closures.

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Star Entertainment Group is in the news for the wrong reasons once again, this time for a suspension on investors trading the company’s shares after the Brisbane-based company failed to report its most recent financial year results on time.

Australia’s largest listed casino company was initially planning to release these figures on Friday before the publication of a report in New South Wales that concluded it is unfit to hold a casino license led to the company pushing back the earnings announcement.

failed to meet its regulatory requirement to release its report on time

As it failed to meet its regulatory requirement to release its report on time, the Australian Securities Exchange (ASX) suspended trading on the company’s shares on Monday until further notice. Before the trading halt, Star’s share price fell to AU$0.45 (US$0.30), a 50% drop over the past year.

The report on Friday came on the back of a second inquiry into the company, with the person leading the inquiry, SC Adam Bell, deeming that Star Entertainment has failed to do enough to address extensive cultural and governance concerns over the past two years.

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No luck

Attempts by workers to completely ban indoor smoking at the nine casinos in Atlantic City ultimately proved unsuccessful after a judge said there is nothing blocking employees from going elsewhere to work in smoke-free places.

loophole that allows people to smoke on 25% of gaming floors

Judge Patrick Bartels dismissed the lawsuit on Friday that sought to end the loophole that allows people to smoke on 25% of casino gaming floors, despite all other workplaces in the state having a total ban in place. Workers claimed this created unsafe working conditions for them and led to long-term health issues.

The judge ruled that the risks of second-hand smoke still didn’t “intrude upon a person’s right to pursue safety” as only a small number of industries are exempt from the smoking ban.

Not over yet

Casino Association of New Jersey President Mark Giannantonio welcomed the news while also confirming he wants to come to a solution that can address the concerns of workers and still protect the industry. Casinos claimed that the introduction of a total smoking ban could lead to revenue dropping by millions and result in significant job losses.

plan is to go to the New Jersey Supreme Court to appeal the decision

Thousands of casino workers supported the lawsuit, and one of the lawyers representing them said the plan now is to appeal the decision to the New Jersey Supreme Court. She spoke about the disappointment of workers who are “exposed to toxic second-hand smoke every day” and the decision to endanger their health “in deference to the casino industry.”

A complex issue

Attempts to have lawmakers pass legislation to close the loophole have been largely unsuccessful. The most recent significant effort came to a halt last year when one of the chief proponents of the bill backed down. This led to Casino Employees Against Smoking Effects and Region 9 of the United Auto Workers filing legal action in April.

Not all workers were in favor of closing the loophole. UNITE HERE Local 54, the biggest casino workers union in the state, supported the lawsuit dismissal as it had concerns about the impact on jobs if the ban went into effect.

Governor Phil Murphy was a defendant in the lawsuit, despite committing to signing smoking ban legislation if it landed on his desk after legislative approval.

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Just in time for the upcoming football season and September’s Responsible Gaming Education Month comes a new study from the American Gaming Association (AGA) showing that American attitudes toward casual gambling have shifted. Consumers now show favorable ratings toward sports entertainment mixed with wagering as a positive way to pass the time.

contributes to communities, prioritizes responsibility, and provides unmatched entertainment”

Joe Maloney, AGA Senior Vice President, Strategic Communications, said: “These latest survey results highlight a consistent trend over the years: as gaming expands to new audiences, Americans increasingly see the benefits of a legal, regulated gaming marketplace that contributes to communities, prioritizes responsibility, and provides unmatched entertainment.”

As reported by ReadWrite, compared to last year’s study, the feedback shows that there has been a 10% increase in the American public’s perception of how problem gambling can be tackled. Overall, there has been growth in:

• Familiarity with responsible gaming resources
• Effectiveness of responsible gaming programs
• Increased awareness of responsible gaming messages
• Responsible marketing and advertising

In perhaps the most stunning increase in a favorable metric, the AGA’s study notes a jump from 55% to 65% of Americans now believing the gaming industry is committed to responsible gaming and resolving problem gambling. The report shows an even higher rating among those who engage with the industry directly, with 81% of physical casino players and 88% of sports bettors agreeing with this sentiment, up from 70% and 78%, respectively, last year.

Given that some states—indeed, countries across the world—are still coming to grips with the benefits that legalized gambling can bring, it’s surprising that the consumer sentiment rating now finds that 75% of Americans support legal sports betting in their home state. Some countries like Brazil and Thailand are pushing for legalized gambling, while American states like South Carolina and Nebraska continue to see active lobbying heavily in favor of legalizing gambling.

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Study analyzes regret and gambling decisions

Good decisions determine the long-term gambling career of each person, and a new study shows that the results may have more to do with our state of mind than previously thought.

The new study comes from Temple University faculty member Crystal Reeck, whose paper was recently accepted for publication in the journal Cognition and Emotion. The paper, titled “Reining in regret: emotion regulation modulates regret in decision making,” outlines how our memories can be reimagined to change our feelings of regret—and ultimately our gambling decisions in the here and now. The study was co-authored by Kevin LaBar, a Professor of Psychology and Neuroscience at Duke University.

Regret is really a great example of an emotion that can have a profound influence on decision-making.”

Reeck, Associate Professor of Marketing and the Associate Director of the Center for Applied Research in Decision Making in Temple’s Fox School of Business, said: “Regret is really a great example of an emotion that can have a profound influence on decision-making. With regret, we often wish we had done something differently, and that then leads us to change our approach moving forward.”

Reeck went on to say that people become interested in regret due to its profound influence on people’s behavior. Her hypothesis on the consequences of unmanaged regret speaks to how people approach wins and losses in gambling, and whether those wins or losses lead to suboptimal decisions. She added: “So, if I’m worried about a very small risk of losing a lot of money, it might lead me to avoid what would otherwise be a really good investment because I’m worried about anticipating that regret.”

Study utilized results from real bets

The study relied on more than self-reports or meta-analysis. For the new study, Reeck and her colleague asked 60 participants to place real bets where they could win or lose money. The participants were then asked to utilize two specific emotional regulation strategies: the portfolio approach, or the immediate results approach.

Referring to the portfolio approach, Reeck said: “Essentially, you’re going to win some and you’re going to lose some when it comes to making decisions. Don’t worry about that, just try to come out ahead overall.”

With the other strategy, Reeck asked participants to focus on the immediate impact of each gamble as though it was all that mattered. Participants who used the immediate results strategy were far more likely to experience regret and inhibition for their next gambling decisions. The participants overemphasized the results rather than the overall portfolio of their wins and losses. In other words, participants who used the portfolio approach still appreciated the times they won, both recognizing their long-term results and whether they could have suffered far greater losses.

when you try to focus on the gains, it is easier to not be bogged down by past regrets”

According to Reeck, that’s the approach that people should use when looking at past regrets in life, too, saying: “When people look at their past decisions like that and instead focus on the good, they see that overall, they are coming out ahead. That’s true for a lot of us. We are all going to experience some losses. That’s inevitable. But when you try to focus on the gains, it is easier to not be bogged down by past regrets.”

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Pulling people in

The Asian Racing Conference in Sapporo, Japan was the setting for the Hong Kong Jockey Club (HKJC)’s Senior Manager, Due Diligence and Research James Porteous’s presentation on the “turbocharged” effect technology is having on drawing masses of users in Asian markets into illegal betting.

driving “novel” uses of social media platforms

Porteous, who is also Research Head for the Asian Racing Federation’s Council on Anti-Illegal Betting and Related Financial Crime, believes the material gains for those involved in the unregulated betting markets are driving “novel” uses of social media platforms.

The South China Morning Post on Thursday cited Porteous as naming platforms including Twitch, TikTok, and Instagram.

One entity allegedly benefitting from unregulated betting markets is illegal online exchange Citibet, which previous claims state makes a turnover of over $50bn annually. The origins and ownership of Citibet have long been in question, but it is licensed to operate out of the Philippines government’s special economic zone, First Cagayan.

Citibet slickers

According to the Post, Citibet has a reason to get up Porteous’ nose. The Asian daily reported Citibet generated almost as much on Hong Kong racing as the HKJC, with illegal betting in China’s Special Administrative Region up 350% since 2015.

As far back as 2015, meanwhile, sports betting expert and ex-federal agent with the Australian Federal Police and Interpol, Chris Eaton, warned of Philippines agent-based structures “designed to maintain the anonymity and secrecy of account holders” and that were “readymade for abuse by criminals and ideal for money laundering.”

“No one even knows who owns these operations and this is outlandish,” Eaton said in a statement that still holds true nearly ten years later.

easier than ever to trade as an illegal bookmaker

On top of that, adds Porteous, it’s now easier than ever to trade as an illegal bookmaker. The HKJC exec said illegal operators are furnishing would-be bookmakers with odds, training, risk management, “pirated live streaming and customer relationship management for as little as US$7,000.”

According to Porteous, Citibet now boasts its own network of agent-exclusive websites plus “literally thousands of other URLs via this franchising model.”

Porteous referred to the rise of the hydra-like franchising as the “McDonaldisation” of illegal betting.

Technology boost

The HKJC exec stated because the offshore operators have no regulatory overhead nor ethical qualms about using technology to market to consumers, the combination is reaching mass markets and has “turbocharged illegal betting.”

“Customer recruitment commissions for illegal betting agents are now so potentially lucrative that they are massively incentivised financially to exploit every technological platform in increasingly novel ways.”

“It’s bringing illegal betting to the mass market like never before,” Porteous added.

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