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Privatization of Philippine casinos wins ministerial support
Philippine Finance Minister Benjamin Diokno announced plans for Philippine casinos. Privatization plans have recently been revived, and PAGCOR is looking to privatize them.
Diokno argued that it was not right for the agency to continue to serve in two roles: the regulator and the operating body.
PAGCOR is a major contributor:
Midway through a discussion about the potential creation of a sovereign wealth fund, Diokno spoke to local media about these events. He argued that PAGCOR should be the main contributor, which was crucial to clarifying the role of regulators. That will be done by privatizing 47 casinos currently under the state's watch.
On recent events, Diochno said, "PAGCOR is a regulator, but it runs gambling companies at the same time. That is wrong. If you are a regulator, stick to it. You cannot run a gambling casino.
"It's like you have a central bank but you're also running a bank. It can't work. We can privatise operations so PAGCOR can stick to its regulator role."
The Philippine GOCC Governance Commission is still thinking about the project. However, Alejandro Tengco, the PAGCOR chairman, said the possibility of privatization sounds appealing. He mentioned this shortly after he was sworn into his new office in August.
House Speaker Rufus Rodriguez wants a dedicated casino regulator instead of complete privatization. This means that PAGCOR will only stay as an operator.
The company has to pay a huge fee:
As critics have listed, the main reason for opposing full privatization is the substantial return of PAGCOR casinos. In 2019, the company had to pay Pph 56 billion, or more than $1 billion, to the state. Payments were made through essential contributions and social responsibility programs.
There are also suggestions for investment and financing. So there is a possibility of a Mahalika Wells fund. It could be investing in global infrastructure projects and financial markets around the world. Investors will receive 10% of the total income earned from the game.
Overall, this is a huge amount of money that caused former chairman and CEO Andrea Domingo to abandon his privatization initiative last time.
In 2018, IAG said that the company's cash flow was strong and that privatization of Philippine casinos was not a necessary step.
Cambodia, Thai Police Arrested Over Anti-Gambling Crackdown
Thailand and Cambodia have been the subject of major crackdowns on anti-gambling activities in recent weeks, with police arrested in both areas. More than 550 illegal immigrants have been detained in Cambodia and 40 have been arrested in Thailand. The arrests are the result of a multi-agency operation and have been linked to raids on illegal Filipino offshore game operations.
Thailand's crackdown
In Thailand, over 40 suspects were detained for allegedly being involved in illegal gambling operations. The services turned over about 2 million baht per day. The group was operating three online casino game sites that had been in operation for three years. Over 50,000 gamblers accessed the sites.
The Crime Stoppers were part of the raid, which seized more than 460 million baht of assets and cash during the raid. A total of 52 locations were attacked in 10 different provinces. Presumably, the operations were connected to the main network located in Kon Kaen.
Websites provided by illegal operators gave players access to various types of gambling. Anyone who used the service had to transfer funds to the organization's bank accounts, which were linked to gambling sites.
After the money was transferred, it was withdrawn and transferred to another account, trying to hide traces of the money. Items seized in the Thai airstrike included cash, bank accounts, ATM cards and mobile phones.
A lot more people have been arrested in Cambodia
Police have arrested more than 550 people in Cambodia, while around 40 people have been arrested in Thailand. Cambodia's prime minister has called for a crackdown on illegal gambling operations, especially after casino-related kidnappings and an increase in human trafficking were seen.
Prime Minister Hun Sen has vowed to do all he can to stop illegal gambling and ensure that participants are brought to justice. While the action is applauded, it may have been too late for any good to be done. For years, Cambodia has been hit by illegal gambling activities to the extent that other countries, such as the U.S., do not want to be bound by the region's gambling industry.
Most of the people arrested were Chinese nationals. There were small groups in Vietnam and Malaysia. Those arrested occurred in Phnom Penh, Candal, as well as in Sihanoukville. Of the 414 people arrested on Sunday, over 160 were working without proper paperwork and permission.
It will be interesting to see whether further action will be taken in the future to ensure the continued eradication of illegal gambling practices in these parts of Asia.
BCLC Urges Locals to Bet for Fun on the Super Bowl
Sports fans from all around the globe are looking forward to this weekend’s Super Bowl LVII, but the British Columbia Lottery Corporation has an important message for its bettors. The Crown corporation expects major sports wagering activity over the weekend, but it cautioned its customers to always play for fun and not to make money off of it.
British Columbians can place their bets on the final via PlayNow, which is the BCLC’s only gaming platform and the only 100% legal sports betting web portal in the province. The website comes with the Crown’s Player Health Assessment program which makes sure that all content corresponds to the B.C. compliance standards to reduce the risks of problem gambling.
Sunday’s Game
Super Bowl LVII is set to be a more than thrilling face-off as the Kansas City Chiefs with 2.05 odds to win on PlayNow will compete against the Philadelphia Eagles with 1.80 odds. As the biggest sporting event in North America, the Crown corporation expects some major wagering volume over the weekend and warns bettors to play for fun with limits at hand.
As the only provincially regulated online betting platform, PlayNow is the only website whose revenue is reinvested into the province’s economy. The portal also comes with a broad range of tools to help users manage their playing activity, including features to set preferred budgets, as well as well connection to dedicated GameSense Advisors, who are available 24/7.
Dan Beebe, BCLC Chief Operating Officer, notes that the Super Bowl is a marquee sports-wagering event for many locals, and the Crown wants them to have the best experience. He added that the Crown has the ambition to have the healthiest players in the industry, and all of its employees are advising players to set time and money limits when playing over the weekend.
For this year’s edition of the Super Bowl, the BCLC launched a new marketing campaign this week, and it is specifically designed for sports bettors. It reminds locals that it is recommended to take breaks from gambling and the value of now allowing pressure to influence their betting decisions. More information on limits can be found on GameSense.com.
Recent BCLC Highlights
Just recently, the BCLC made some updates to the Game Break self-exclusion program. The new version of the program is more approachable and introduces additional elements to support its ambition to have the healthiest bettors. It has a new name and a reinstatement process for players who decide to return to playing.
Prior to that, the Crown agency took important steps toward preventing money-laundering activities. A partnership with Everi Holdings Inc. was announced which allowed the corporation to adopt Everi Compliance Anti-Money Laundering solution which is used across 600 gaming properties across the world. It was integrated across the Crown’s land-based and online gaming activities. 온라인바둑이
NY Congressman Targets Ban on Sportsbook Ads
Ahead of Sunday’s Super Bowl LVII, New York congressman Paul Tonko wants to take action against the abundance of sports betting advertisements. Most recently, he has introduced the “Betting on our Future Act,” which if passed a law, would ban all online and electronic sports betting commercials in New York and across the country as a whole.
The Empire State is one of the U.S. jurisdictions that runs an online sports betting market, and with the upcoming Super Bowl weekend a large wagering volume is expected to occur. However, easy access to sports betting could also be harmful to locals, as recently the state reported increasing cases of compulsive gambling among young adults.
The Legislation
Speaking on his legislation, Mr. Tonko explained that over the weekend millions of U.S. households will watch the show, and will be exposed to tons of sports betting ads by operators such as DraftKings, FanDuel and others. He further explains that there will be numerous ads promoting ‘risk-free’ or ‘no sweat’ bets in an attempt to gain more customers.
He continued by saying since the Supreme Court decriminalized sports wagering, these unregulated commercials have run wild, and betting brands have spent billions to make sure that they reach every TV screen across the country. In his words, these ads pose a particularly dangerous threat to adolescents and young adults who are unaware of the potential gambling risks.
His legislation is inspired by the Federal Cigarette Labeling and Advertising Act, which went into effect in 1966. Mr. Tonko added that the excessive, uncensored promotion of the websites, must be put in check. According to him, if passed as law, the bill will cease the dangerous practice and send out a powerful message to online sports betting companies.
Additionally, the congressman used a recently released report by the National Problem Gambling Helpline Network to support his stance. According to the organization, calls to it have increased by 45% in 2021, meanwhile, sports wagering companies have spent US$500 million on advertising in 2020, and that between 60-80% of high schoolers have participated in gambling for money.
More Young Adults Report Issues
Another concerning piece of findings was also recently published by the New York Council on Problem Gambling. At the start of this month, the organization said that it saw an uptick in compulsive gambling among young adults between the age of 18- to 24-year-olds. According to the council, people in the range have now become pathological gamblers.
Local lawmakers are also worried about the effect of gambling ads on Empire State residents. In the middle of January 2023, democrats Luis R. Sepúlveda and Leroy Comrie introduced a bill which will mandate all gambling and sports betting commercials in the state to include warnings about a possible negative effects and the number for the problem gambling hotline. 카지노사이트
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