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Tuesday May 31,2016  : ONLINE BETTING COULD BE MACAUS SALVATION
 
Philippines gaming expert suggests the way forward.
 
Macaus falling gambling revenues in recent years have been a major cause for concern regarding the future of the Chinese gambling island, but one gaming expert believes properly regulated and licensed online gambling could assist land casino operators to weather the storm.
 
Chris Tio has wide experience in the field and was at one time development head for DFNN, Inc. - a publicly listed Philippines I.T. company with multiple online gaming licences, and former marketing and VIP services chief at the Philippine gaming regulatory agency PAGCOR.
 
In an interview with Macaus Business Daily newspaper this week Tio said that online gambling is an interesting possibility because it contributes a significant percentage of revenues to regulators, as has been proved in the Philippines where server based games are streamed into physical locations.
 
The Philippines is also home to legal online sports bookmakers, online casinos and bingo, with domestic websites licensed by the government-owned Philippine Amusement and Gaming Corporation (PAGCOR), and Special Economic Zone Cagayan, where licensed online betting operators can target other Asian markets.
 
Tio considers that regulation is essential and it has helped the sector succeed in the Philippines, with the country seeing total gross gaming revenue exceeding US$2.3 billion (MOP18.39 billion) in 2015.
 
The gaming expert said that regulation not only protects consumers and provides tax revenues, but that it encourages investors to support online gambling projects  that are protected against unlicensed competition.
 
He said he believes better investment guidelines and openness to online gaming will contribute to gaming coffers, with great investment opportunities because “sports betting is growing significantly, with a dramatic growth to be made in virtual sports” and with many “e-casino products showing dramatic innovation”.
 
Tio said that the new political leadership in the Philippines appears to be pragmatic and that it is unlikely that the online gambling sector will be adversely impacted. However, he believes that greater transparency can be achieved in the Philippines by separating Pagcors regulator and operator functions, something that would require Congressional authority.

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Gambling News :

South Africa Going After Illegal Gambling - In South Africa a combined national police and federal enforcement initiative has shuttered 19 illegal gambling venues across the provinces of Northern Cape and North West.

The Winning Express arbitrage sports betting scheme - A UK-based GBP 27 million arbitrage sports betting scheme, The Winning Express, has collapsed, leaving a thousand investors with concerns that their money is lost, according to a BBC report over the weekend.

Global Poker League Championship Results - #gpl The inaugural season of the Global Poker League Championship played out this week with the Montreal Nationals besting the Berlin Bears across 11 games to claim the $100,000 main prize.

Yahoo DFS Gets Uk License - #yahoo Industry observers point out that Yahoo has thus far carried out little in the way of major marketing on DFS in its US endeavors, unlike rivals DraftKings and FanDuel, and they expect it to follow a similar path in the Britain.

SPANISH GAMBLING MARKET CONTINUES TO GROW - Spain's gambling industry continued to advance in 2015 with growth in most sectors, according to the latest research report from the Codere - University of Madrid Institute for Policy and Governance collaboration released this week.

Novomatic Acquires Albanian National Lottery - #Novomatic The Austrian gaming technology group Novomatic has issued a statement confirming that it has completed the final required steps for the successful acquisition of the Albanian National Lottery.

2016 Massachusetts Gaming Commission Report - Industry journalist Steve Ruddock picked up on some interesting statistics from the latest annual report of the Massachusetts Gaming Commission released this week, flagging the current results from its on-going monitoring research of the state gambling market.

Jack Lam denies bribe allegations - Allegations by Philippines Justice Secretary Vitaliano Aguirre that casino tycoon Jack Lam used 'facilitator' Wally Sombero in an attempt to bribe him into protecting Lam interests have been hotly denied by Lam.

Fonbet Gets Russian Betting License - #Fonbet Russian-licensed operators are required to use officially sanctioned payment hubs called TSUPIS to facilitate government oversight, and this may be a concern for Fonbet at present.

New Attempts to Restore the Wire act - In the first of these initiatives, which Online Poker Report notes is supported by only eight state AGs (half those who signed a similar letter last year), the signatories seek support for RAWA at a Congressional hearing scheduled for December 9.

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