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Macau casinos donate about US$ 200 million to charities

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A study conducted by the Institute for Social and Cultural Research at the Macau University of Science and Technology (MUST) has revealed that six casino operators in Macau have contributed a total of HKD1.56 billion (close to US$200 million) to charity organisations in the seven years between 2011 and 2017.

However, that amount is only a small fraction, 0.085 per cent to be precise, of the combined gross revenues of these companies during the reporting period. They said the findings were based on information available on various sources such as companies’ respective annual reports and official websites, as well as on media reports.

The donations were mainly directed to education, scientific research, environmental protection, and disaster relief, stated the report.

The amount donated to charities by the city’s six casino concessionaires declined by an annual average of 6.48 per cent between 2011 and 2017, said Lin Guangzhi, director of the Institute for Social and Cultural Research, in the press briefing. He added that the findings of the study showed that there was room for the casino operators to increase their donations to charity causes, as well as to update their respective policies regarding donations.

According to the document, the firms’ donations to charities followed the trend of gross gaming revenue (GGR) performance in the Macau market. Such GGR underwent a three-year contraction starting in 2014.

The report stated that Wynn Macau Ltd, Galaxy Entertainment Group Ltd. and Sands China Ltd. were the biggest contributors during the reporting period, donating respectively HKD745.8 million, HKD430.1 million and HKD117.4 million.

The tally of casino operator donations “can be increased, and it should be done in a more effective way,” suggested Prof. Lin, as quoted by Portuguese-language newspaper Jornal Tribuna de Macau.

The scholar added that the city’s casino operators could wish to consider a more methodical and efficient approach to charitable donations.

“The casino operators should create their own departments to oversee charitable donations, including long-term mechanisms and a more professional approach,” he reportedly said.

Macau already levies an effective tax rate of 39 per cent on casino GGR – 35 per cent in direct government tax, and the remainder in a number of levies to pay for a range of community good causes.

MUST is currently conducting one of two studies commissioned from outside bodies by the Macau government on the possible development of the city’s gaming sector in the period between 2020 and 2030. That start of that period coincides with the expiry of the current six gaming licences on the Macau market.

According to the government, one study would look at social and economic issues, and the other at “healthy development” of the industry and regional competition. The studies are due to be completed by the third quarter of 2018. 

Source: ggrasia.com


Source: European Gaming Media and Events

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Potential New Casino In The Center Of Gdansk

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There is a new intention of creating a new casino in Gdansk in the newely opened IBB Hotel in Dlugi Targ. The one and only issue is that there are already two casinos in the city and the current gambling legislation does not allow another one.

The Warsaw-based company Casino, which manages, among others: a casino in Sopot, wants to open another one in Gdańsk. The company applied for permission to rebuild the premises for a casino and a club with a small gastronomy. Where? In the basement and ground floor of the IBB Hotel in Długi Targ, which opened in April.

We have accepted the casino offer, but now it has to deal with a number of procedures, including getting permission from the Ministry of Finance and the City Council of Gdansk” – said Adam Trybusz, the owner of the object.

The Gambling Act of Poland states that in towns with up to 250,000 residents only one casino can be created, and for each subsequent started 250 thousand inhabitants, their number is increased by one. The number of casinos in the region can not be higher than one casino for each full 650,000 inhabitants.

 

Source: e-playonline


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ACMA probes .cc gambling websites

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The Australian Communications and Media Authority (ACMA) is investigating the allegation that gambling websites using the .cc domain extension have breached of the Interactive Gambling Act (IGA).

As per the IGA, website operators are prohibited from offering casino-style games and live sports betting to Australian customers.

Gambling operators without an Australian licence are also prohibited from taking bets from Australian customers.

“When deciding if a site should be investigated, the ACMA considers a number of factors, including whether the service being provided may be a prohibited or unlicensed service … and whether it may have an Australian-customer link,” an ACMA spokesman said.

Dr. Charles Livingstone, a gambling law expert from Monash University, said the sites do appear to have breached the act.” The avowed purpose of the IGA is to protect Australians from less well-regulated gambling sites, and to prohibit non-wagering gambling being available online,” he said. “Using a web address of an Australian territory to offer online gambling services is an offence, unless the provider is registered in an Australian jurisdiction.”

 

Source: 5star.media

 


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MGA | FIAU issues the Implementing Procedures – Part II addressed to the Remote Gaming Sector

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MGA | FIAU issues the Implementing Procedures - Part II addressed to the Remote Gaming SectorReading Time: 1 minute

The Financial Intelligence Analysis Unit (FIAU) has today issued the Implementing Procedures – Part II (found here) addressed to the remote gaming sector.  This document focuses, and provides guidance, on certain aspects of the Prevention of Money Laundering and Funding of Terrorism Regulations (“PMLFTR”) which warrant further elaboration at industry-specific level to ensure that they are understood and interpreted consistently by licensees.

The Implementing Procedures – Part II for the remote gaming sector were drawn up in conjunction with the Malta Gaming Authority and following due consultation with the relative sector.  All interested parties are to take note thereof. These Implementing Procedures are also accessible through the FIAU’s website – http://www.fiaumalta.org/ – and are considered to have come into force on the date of their publication.


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