Tycoon Stanley Ho retires: Macau’s ‘King of Gambling’

Macau gambling king Stanley Ho’s swashbuckling corporate deal-making style transformed Macau from a sleepy peninsula dotted with seedy, windowless gambling dens into the world’s biggest casino centre. One of Asia’s richest men, the flamboyant tycoon made his riches by smuggling luxury goods into China from Macau during World War II, before he secured the only…

Spanish online gambling and betting market poised to hit $1.22B by 2023

Online gambling and betting businesses in Spain are on track to becoming a billion-dollar industry, according to forecasts. An AFP report quoted consultancy firm Ficom Leisure, which said that Spain is now “on the radar of the international market” as it predicts the market’s annual online gambling and betting revenue to hit €1 billion (US$1.22…

Ladbrokes can’t recover $100 million tax payment

It’s not often that someone wins against the taxman. Tax collectors are notorious for almost always making sure they cross all their t’s and dot all their i’s. This case wouldn’t prove to be the exception, either. First, it’s necessary to paint the background. A 2008 tax loophole was in place that allowed corporations to…

Meruelo Group receives approval for SLS acquisition – Gambling Insider

A multi-million dollar acquisition of the ailing SLS Las Vegas Hotel & Casino by gaming and media company The Meruelo Group has been approved by the Nevada Gaming Commission. During hearings late on Thursday, Meruelo Group Principal Alex Meruelo unveiled his plans to revitalise and promote the SLS hotel as a must stay destination on…

Australia to ban gambling ads on live sports broadcasts

Televised live sporting matches in Australia will look differently by the end of the month as the “siren to siren” ban on gambling ads take effect. Mumbrella reported that the Australian Subscription Television and Radio Association (ASTRA) will implement new advertising rules on March 30, including the prohibition of all gambling ads during live sport…

UK online gambling providers scanned for withdrawal roadblocks

The UK’s competition watchdog has launched a probe into whether online gambling operators are making it too difficult for customers to withdraw their funds. On Thursday, the Competition and Markets Authority (CMA) announced that it had “launched enforcement action” against an unspecified number of UK-licensed online gambling operators “in respect of practices that may place…

Federal agents storm Westminster restaurants and seize illegal gambling equipment

Fourteen people were arrested early Wednesday morning, Feb. 21, during the execution of a search warrant at a suspected illegal gambling operation inside a restaurant in Westminster, police said. About 1:30 a.m., investigators conducted a search of the Cafe Picasso Restaurant in the 15600 block of Brookhurst Street. Investigators found at least two firearms and…

Financial Expert Who Predicted 2008 Crash Warns About Cryptocurrency Bubble

Nouriel Roubini, the economist credited with predicting the 2008 global financial crisis said a 12% fall in the value of bitcoin on Friday was the latest proof that the cryptocurrency was the biggest bubble in history and destined for a crash. Roubini, professor of economics at New York University, said bitcoin was “the mother of…

Atlantic City Casino To Launch An Online Gambling Service Via GAN

International online casino supplier GAN is going to increase its footprint in the US. Already involved in New Jersey online casinos, GAN announced this week it would be powering the online gambling arm of the planned Ocean Resort Casino, formerly the Revel in Atlantic City. The UK-based company offers turnkey software solutions for both social…