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SOUTH AFRICAN GAMBLING SCANDAL DEEPENS

Tuesday November 4,2014 :  SOUTH AFRICAN GAMBLING SCANDAL DEEPENS
 
MPs find suspicious shredded documents at National Gambling Board.
 
Almost two months ago the South African Minister of Trade and Industry suspended the entire board of the National Gambling Board, replacing them with two temporary administrators in a non-transparent process that triggered extensive media speculation
 
Several weeks later the government revealed under some pressure that a forensic investigation into the affairs of the national regulator had been launched amid suspicions of high-value maladministration, intimidation and corruption at top management level.
 
Over the weekend the Sunday Times business pages added fuel to the fire by reporting that two members of parliament who had visited the over-priced offices of the Board found five boxes of suspiciously shredded documents.
 
MPs Dean McPherson and Giordin Hill-Lewis reported that the high-rent premises were far too large for the Board's needs and had been rented at a cost-per-metre more than double the standard for the betting industry.
 
They also found the boxes of shredded documents, and reported that it was clear that the remains were the minutes of 40 "special meetings" relating to parliamentary discussions and disclosures. 
 
The government has not commented specifically on the shredded documents, but has confirmed that the forensic investigation in still ongoing.
 
The National Gambling Board has a budget of Rands 30-million, but reported a net loss of more than R4-million last year. Two-thirds of the budget is spent on a small staff complement. Liabilities exceeded assets by more than R8-million, and the auditor-general recently expressed reservations about its ability to continue as a going concern.

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Gambling News :

Amaya FY2016 Trading Update - The Montreal-based Amaya online gambling group has issued a trading update covering FY 2016 and improving its forecast revenue and earnings numbers.

Another Mega Fortune Dreams jackpot for Euro 3.5 million - In a statement Friday NetEnt advised that the lucky player is a 62-year-old woman from central Finland who won the seven-figure sum from a Euro 1 stake.

Stanleybet has filed a legal action against the government of Cyprus - Bookmaking firm Stanleybet has filed a legal action against the government of Cyprus, claiming Euro 12.5 million as compensation for what it claims is loss of profits and opportunities, prejudice to image and business reputation and legal costs.

LeoVegas To Sponsor Leicester Tigers - The agreement includes official partner accreditation, media space at Welford Road stadium and matchday tickets and VIP hospitality as well as two pitchside perimeter boards from the 2017/18 season and one for duration of the 2016/17 season.

Optima Information Services iShop - Industry visitors to the recent TVC Bookmakers Trade Fair in Solihull, UK were much taken by Spanish betting technology firm Optima Information Services' iShop product, and the company went on to win the SBC Best Retail Betting Product award with it last month.

Golden Nugget Las Vegas Launches New Betting App - Golden Nugget Las Vegas has unveiled a sports wagering app offering Nevada punters the comfort and convenience of being able to wager from anywhere in the state.

CAGAYAN CHIEF MOVES TO REASSURE LICENSEES - Apparently $4 million is going into improvements of the Authority’s data centre in the Freeport at Cagayan, whilst another $3 million has been earmarked for an upgrade to data infrastructure located outside the Freeport.

New Massachusetts Online Gambling Bill - It seems that every two years (give or take a few months) Massachusetts state Senator Bruce Tarr flights an online gambling legalization bill in the state Senate.

Las Vegas Sands Fined for foreign bribery allegations - #lasvegassands Las Vegas Sands, the land casino company owned by multi-billionaire US mogul Sheldon Adelson, has again had to cough up a stiff penalty for non-compliance with the law.

Libratus AI Program Destroying Human Poker Opponents - #Libratus With 40,340 hands played (about a third of the 120,000 planned) Dong Kim is down $29,506, whilst Jimmy Chou ($113,7728), Daniel McAuley ($141,877) and Jason Les ($186,489) are all carrying losses.

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