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MAJOR MACAU OPERATORS DISCUSS REGULATORY OPTIONS

The subject of regulation was discussed this week in Macau at a special meeting with major gambling concessonaires called by the Macao Special Administrative Region (SAR) government. Predictably, there were different opinions on the subject from the six gaming concessionaires and sub-concessionaires who met face-to-face for the first time to discuss gaming market regulations.
 
Present were local gaming magnate Dr. Stanley Ho and Las Vegas Sands' Asian Region President Steven Weaver, along with top government officials, reports the Chinese news agency Xinhua. With a moratorium on the PokerStarsissue of further licenses, the original aim of the gathering was to discuss the future development of the island's gaming industry.
 
Tam Pak Yuen, secretary for economy and finance of the SAR government told Xinhua that in the event the discussions focused on issues concerning junket commissions and gaming table numbers. Tam said that most of the representatives agreed at the meeting that the commission should have a lower maximum rate than the current market level, while opinions differed when it came to the number of gaming tables allowed for each concessionaire.
 
"The government takes the responsibility to regulate the gaming industry, ensuring its healthy and sustainable development, and now it is time to take a more active step and provide a platform for the operators to exchange their opinions," he said.
 
Last month's decision by SAR Chief Executive Ho Hau Wah to freeze the development of new casino projects and maintain the current industry scale, has been welcomed by Stanley Ho's SJM, Melco International, of which his son Lawrence Ho is chairman, and Wynn Macao from Las Vegas.
 
"The only way to control this crazy cutthroat competition is to control two things, the number of (gaming) tables for each licensee and the [VIP market] commission rate," said Stanley Ho after this week's meeting. Last year the VIP market contributed more than 67 percent of the total games of fortune revenue, according to figures from the Gaming Inspection and Coordination Bureau.
 
Ho said he proposed at the meeting that maximum commission rate and gaming table number for each concessionaire or sub-concessionaire be limited at 1.25 percent and 1 000 respectively, but this was not welcomed by all the other operators. He said that the Las Vegas Sands representative had disagreed with Ho on most of the issues brought up at the meeting.
 
Las Vegas Sands has invested heavily in Macao's gaming market and built the Venetian Macao, which housed the largest casino in the world. Stephen Weaver, representing Sands at the meeting, argued that table number and commission rate should be decided by the market.
 
Xinhua reports that the Macao Business monthly market share report shows that SJM still dominates the Macau market with its 28 percent share as at the end of March this year, following by Sands, which took up 20 percent.
 
Weaver commented that merely building "casinos that are just casinos" does not meet the objective of Macao as a society.
 
"What we think [is that] Macao is a society and the government's intention of opening up the industry was to bring in the kinds of resorts that would attract new tourism traffic, business traffic, people who want to come for shopping, entertainment and so on," Weaver said.

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Gambling News :

Is Gibraltar Out of Luck in US Tax Challenge - Gibraltar's challenge to the UK 15 percent point-of-consumption tax on online gambling operator revenues has already failed in the UK High Court, and it looks as if it may be rejected by the European Court of Justice too.

Quickspin are now available in Denmark - #quickspin The roll-out strengthens the long-standing partnership between the supplier and the operator, with Quickspin games already available on Vera&John’s websites around the world.

UCypher Launches - Indian entertainment and media entrepreneur Ronnie Screwvala has announced the formation of UCypher, an eSports tournament in which ten teams will compete.

Extreme Live Gaming In deal With Betsson - Extreme Live Gaming, a subsidiary of the Novomatic Interactive group, has announced a live dealer product deal with the Betsson online gambling group, with an initial launch planned for Betsson.com, followed by other brands in the Swedish group's portfolio.

Expansion Mode For BoyleSports - The Bambury premises are situated in Kildare, Meath and Dublin and will be refurbished and rebranded after acquisition, with the total of 31 staff remaining in employment..

Safecharge Q4-2016 - Online e-cash processing firm Safecharge, where Playtech's Teddy Sagi is a majority shareholder, released a trading update on its Q4-2016 performance Thursday, flagging record transaction processing volumes and revenues.

ASA Most Controversial Ads of 2016 - Paddy Power's penchant for advertisements that cause a stir saw the betting company mentioned twice in the Top Ten most controversial adverts of 2016 released by the Advertising Standards Authority in the UK Thursday.

Yggdrasi To Enter Italian Gambling Market - Yggdrasil’s Italian offering will include the company's collection of in-game promotional tools, BOOST, improving gamification, and the social sharing tool, BRAG. The company’s mobile product will also be available on its HTML5 iSense 2 platform.

888sport is the latest to join sports betting integrity body ESSA - Major operator 888sport is the latest to join sports betting integrity body ESSA with the company adding its customer base and betting market platforms to ESSA’s global anti-fraud alert and reporting system.

First partypoker live event to be held in Russia - Partypoker’s new live tour will kick off in Russia on March 24, 2017 at Sochi Casino and Resort in association with Club Poker Management. Online Day 1’s will start on partypoker on March 12, 2017.

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