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Asia Stock Market Looking At Online Gambling
Thursday October 3,2013 : ASIAN MARKETS ARE CONSIDERING ONLINE GAMBLING OPTIONS
Singapore and Thailand may be taking the first steps on the road to regulation.
The publication Gaming Asia reports that online gambling is appearing on the political agenda in Singapore and Thailand.
Singapore Second Minister for Home Affairs, S. Iswaran, recently announced that the government is studying measures to regulate online gambling, whilst a proposal to reform Thailand’s gambling laws to accommodate modern and pervasive genres like internet gambling has encountered heavy resistance but is still a live issue.
Gaming Asia quotes Global Betting and Gaming Consultants estimates that internet gambling in Singapore will grow from US$342 million in 2012 to US$519 million by 2017. Yet despite this strong growth, current gambling laws in the country make no specific mention of the online genre, creating an uncertain legal "grey" environment that needs to be addressed.
The Singapore government is approaching the issue in a cautious, professional manner, and has called for a study by year-end before moving forward.
Meanwhile a large number of offshore online casino and sports betting operators continue to access a very keen and willing market
In Thailand, gambling is restricted , with wagering only permitted through the state lottery or at the Royal Bangkok Sports Club in terms of a law passed in 1935.
The government of Prime Minister Yingluck Shinawatra proposed reforms in parliament two years ago, hoping to modernise and broaden the country's gambling laws, but various elements of its proposal have triggered stiff political opposition.
In the meantime, a massive underground gambling market - currently estimated to be worth around $3.3 billion - has developed to service growing public demand for betting opportunities.
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Gambling News :
Phil Ivey Loses Borgata Casino -
Phil Ivey has lost in his four-year legal tussle with the Borgata over baccarat winnings; on Friday a US federal judge ruled that he and a companion violated New Jersey state gambling regulations in the manner in which they won nearly $10 million playing at the Atlantic City casino.
NYX Gaming in deal with Endemol -
"Endemol Shine’s IP will be a strong addition to the NYX portfolio of content and we look forward to working together to bring additional instantly recognizable brands to market.”
NEW CAMBODIAN GAMBLING LAWS -
After more than two years of debate and drafting, Cambodia may be closing in on final agreement regarding its proposed gambling law changes.
Playtech Acquires ECM Systems -
Online gambling soiftware provider Playtech plc has announced the acquisition of a ninety percent stake in UK bingo software developer ECM Systems for a consideration of GBP 14.9 million.
Marks and Spencer store Manager steals to Gamblie Online -
The Cambridge News reports that a 28-year-old manager of a Marks and Spencer store, Martin Trenor, has been jailed for three years for stealing GBP 254,538.11 in shop takings over the course of a year and spending it almost immediately at online gambling websites.
Chinese Gambling crackdown could damage high roller revenue -
Fast-moving events this week have seen Australian media reports quoting hundreds of millions of dollars wagered by Chinese high rollers in Aussie land casinos, offset to some extent by Crown claims that this whale gambler" demographic generates only 12 percent of turnover.
EvenBet Open Face Chinese Poker -
Open Face Chinese Poker online games provider EvenBet has reported that its Open Face Chinese Poker product is gaining traction with games recently integrated for desktop action at the Malta-licensed operational site Poker Grant.
2016 EPT Malta -
The European Poker Tour is off to a good start in Malta, with German pro Dietrich Fast claiming a well-earned Euro 174,000 main prize in the Euro 10,000 buy-in Single-Entry Rebuy event.
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