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Playtech Comments On Malaysian Gambling Crackdown
Thursday November 6,2014 : PLAYTECH COMMENTS ON MALAYSIAN CRACKDOWN
Share price movements trigger an assurance that there is resilience and diversity in the company.
The extensive publicity flowing from the nationwide crackdown on illegal online gambling in Malaysia has prompted online gambling software provider Playtech plc to issue a statement on its share price.
The statement notes the recent movement in the company's share price following "...speculation in relation to developments in the Malaysian market", and assures the market that Playtech is closely monitoring the situation.
"Regardless of the potential impact of any changes in the Malaysian market, [Playtech] remains confident of meeting the latest market consensus, following the recent Q3 IMS, for 2014 and beyond, reflecting the resilience and diversity of the Company's business," the statement advises.
Underlining the seriousness of the crackdown, the Malaysian police have continued to issue a stream of media releases detailing their raids, arrests and equipment confiscations in the nationwide anti-online gambling drive.
In the latest statement, police sources reveal that mobile gambling - and particularly the use of tablets - is the rising trend among illegal operators.
Acting Deputy Inspector-General of Police, Datuk Seri Mohamad Fuzi Harun said that police raiding parties had picked up on the trend to tablets
"Initial investigations revealed that customers gained access to online gambling after submitting a password and betting money are paid through account transaction," he told reporters at a press conference.
Fuzi said that on Monday this week the national police entered the second phase of the crackdown.
"For the first phase since last week, we conducted operations and raids on gambling premises. In the second phase we will focus on the premises which had been raided but are still operating and will also track down other gambling outlets," he said.
"In the first phase up to last [Wednesday] night, 13,758 raids were conducted throughout the country with 638 arrests made and 3,629 computers seized," he said.
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