Category Archives: Gambling

With a vote of 5 to 2, Plano aldermen approved the addition of a liquor license for beer and wine for Betty's Place, which will be a new video gambling facility at 623 W. Route 34.

Betty's Place is owned by Tomar LLC of Springfield, Illinois. With the approval of a liquor license, Tomar can now obtain a gaming license from the state.

Currently, Plano has 10 places with video gambling with a total of 44 machines.

The Illinois Gaming Board reports that in 2016, Plano had eight places with video gambling with 34 machines. Their website reports that during that year, Plano video gambling participants gambled a total of $18,913,607.75 which resulted in a tax distribution share for the city of $78,051.35.

Mayor Bob Hausler said that this year's city budget is anticipating tax revenues of $85,000 from video gambling. He said the revenue goes into the city's general fund.

Aldermen Jamal Williams and Ben Eaton were the two dissenting votes on the council. Williams, from the city's 2nd Ward, was elected to the City Council in April.

"One of the main reasons I ran for the council is to be a voice for the community," he said. "People told me they do not want more gaming facilities."

Williams acknowledged that the gambling has generated funds for the city, but added, "my mother always told me that all money isn't good money. I think we need to be more responsible. We need to be smart with our decisions for the future instead of letting money make our decisions for us."

Eaton agrees with Williams and said, "I think we have a lot of these licenses that are handed out way too fast and easily. I don't think we need as many facilities as we are handing out liquor licenses for. They should be limited to restaurants and bars as opposed to handing them out for convenience gaming which doesn't add anything to the community."

Williams said, "there had been some discussion on a potential moratorium on licenses from this point forward."

Hausler said there is a limit to the amount of video gambling that would make sense for Plano.

"I do think there is a saturation point," he said. "The facilities we now have are quite low-key and don't have ostentatious signs. I don't think they have the same negative effect that building vacancies would."

Easton believes that the revenues generated from gambling should be dedicated to specific programs such as street repairs or economic development. He is chairman of the Streets and Utilities Committee and said that while the street department usually gets funding for equipment, they generally do not get the needed funding for projects such as curbs and gutters that are needed in areas throughout town.

"We have only done about half of the projects that we need to for the last few years," he said. "We need the money to be able to fix things."

He said there was some talk about a study being done over the next 12 months regarding the impact of video gambling on the city, but no action has been taken yet. He said residents need to become involved and to make their voices heard.

"It is going to take the voice of the people to their aldermen and for the aldermen to then vote accordingly," he said.

Susan Thanepohn is a freelance reporter for The Beacon-News

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Pair of Plano aldermen not happy with expansion of video gambling - Chicago Tribune

He was once ranked among the "Heavenly Kings" in his industry, earning over $50,000 per month as a tour guide in the 1990s.

But now, he is known as a "beggar" among his friends, after losing most of his fortune due to a gambling addiction spanning over 20 years, including at jackpot machines.

"I lost at least $5 million, and close to half of it went to jackpot machines," said Jerome (not his real name), 67, who now works as a taxi driver. "Now, I am a nobody."

Jackpot machines and the gamblers they attract have been in the spotlight of late, after media reports earlier this year showed how some S-League football clubs were relying on these machines for much of their revenue.

On July 20, the Ministry of Home Affairs announced a slew of measures - after a review initiated last year - to tackle problem gamblers like Jerome who punt heavily at jackpot machines.

From next May, gambling addicts like Jerome can bar themselves from jackpot rooms at all clubs here, which will be required to offer self-exclusion. Now, only 25 of about 82 clubs operating jackpot machines here have taken up the self-exclusion scheme, with around 1,500 self-exclusions as of May.

HELPLINES

THE NATIONAL COUNCIL ON PROBLEM GAMBLING: 1800-6668-668

BLESSED GRACE SOCIAL SERVICES: 8428-6377

ONE HOPE CENTRE: 6547-1011

Jerome has plans to exclude himself from all jackpot machine rooms, and stop other forms of gambling such as betting on 4D.

Last Thursday, he took an exclusion order, barring himself from the casinos, after finding himself spending over five hours at the jackpot machines and losing some $150,000 since early last year.

Looking back, Jerome wishes he had sought help sooner for his gambling addiction that was fuelled by the big bucks he earned as a tour guide catering to Japanese tourists. He said guides like him in the late 1980s could earn up to $500,000 a year, thanks to generous tips.

After completing the tours around 3pm daily, tour guides would take a three-hour break before starting work again at 6pm.

During this time, many would visit a club in the Dempsey area, close to Orchard Road where tourists stayed. "In three hours, we could lose thousands of dollars on jackpot machines," Jerome recalled.

There were no casinos then, but he would gamble at jackpot machines on a cruise ship off the Indonesian island of Batam as well.

It was on one such cruise that his wife got hooked on the jackpot, too. "We could spend days on the ship, because we lost money and did not want to come back before winning," said the 50-year-old housewife, who also declined to be identified.

The couple, who have a 19-year-old daughter, ended up borrowing money from friends, but eventually sought help at Blessed Grace Social Services - a non-profit group with addiction recovery services - at the start of this year.

Speaking to The Sunday Times at his four-room HDB flat in Ang Mo Kio, Jerome said he had sold two condominium units and a private house over the years to pay off his gambling debts. It has not been easy to kick his addiction.

"The feeling (of winning at the machines) was even better than taking delicacies like shark's fin and abalone," he added. "Especially when you strike a high payout on the machine - it's such a thrill."

His addiction has also made him ashamed to face his family, and he hopes that his experience would serve as a cautionary tale to others.

"I'm the black sheep of my family. Before my father died, I'd already lost the property that he gave me," said Jerome. "If I hadn't gambled, I would be comfortably retired now.

Jackpot gambling creates a unique set of problems for addicts, as they are hooked on the games and seem to be in a trance-like state when playing, said experts.

Some jackpot machine addicts may also find themselves skipping meals, and having an illusion of control over the machine.

As those who play jackpot machines tend to be "escape gamblers" seeking to avoid problems in real life, they may also require more targeted forms of treatment focused on helping them cope with negative emotions, said National Addictions Management Service (Nams) senior psychologist Lawrence Tan.

About 14 per cent of gamblers seen by Nams engage in jackpot machine gambling, and nine out of 10 are men aged around 40 on average.

While the problem gambling rate dropped from 2.6 per cent in 2011 to 0.7 per cent in 2014, according to a gambling survey carried out every three years by the National Council on Problem Gambling, analysis from consultancy H2 Gambling Capital also found that gamblers in Singapore suffered the second-greatest losses per capita in the world last year, after Australia.

A report in The Economist on this data showed that gamblers here lost US$5.9 billion (S$8 billion) last year.

9 in 10

Proportion of gamblers engaging in jackpot machine gambling who are men aged around 40 on average.

The general treatment for gamblers targets their distorted beliefs, aiming to modify them to more rational ones, said Mr Tan. For example, one of Nams' clients, a woman in her 50s, could not stop gambling on jackpot machines, and believed she could predict eventual outcomes by spotting patterns in the game.

Near-misses on the machine also egged her on, and she lost about $40,000 over three to four years.

Addiction specialist Thomas Lee said those addicted to jackpot machines are drawn to the visual and auditory stimulation, with exciting music and images on the screen.

"We need to address why a person is attracted to jackpot machines, find out what triggers a person to play on the machine, and do some cognitive challenges or therapy to identify the false beliefs that a jackpot player has," he said of treatment methods. "We need to challenge these thoughts, so the person may not be hooked as readily as before."

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Gambler who lost over $5m tells of fall from 'heavenly king' to 'a nobody' - The Straits Times

News Financial North Korean Hackers More Interested in Cash (and Gambling Sites) Than State Secrets

North Koreas notorious state-backed cyber-criminals are more interested in stealing cash than classified state secrets these days, and they will even hack into online gambling and poker websites to achieve their nefarious ends.

North Korean hackers have created malware that has been used to steal from online poker and gambling sites, according to South Korea. Special thanks to Reddit for this image. (Image: Reddit)

Thats the verdict from South Koreas Financial Security Institute (FSI), which analyzed cyber-attacks between 2015 and 2017 and found that, far from focusing on acts of disruption or espionage, the secretive, cash-strapped Hermit Kingdom is just trying to made a fast buck.

FSI said it had created malware to hack into online poker and other gambling sites to steal money.

North Koreas economy has been in tatters since the collapse of the Soviet Union resulted in the loss of Eastern bloc trading partners.

This, coupled with the ramping up international sanctions as it pursues its aggressive nuclear program, has left it with serious food shortages.

The country has been linked to numerous attacks in recent years, including the 2014 hack on Sony Entertainment, which deleted vast amounts of the companys data and compromised personal and sensitive employee information.

But since then, attacks have been more mercenary in nature. The group behind the Sony hack, known as Lazarus, is also believed to have orchestrated the daring heist on the Federal Reserve Bank of New York, which attempted to empty an account owned by the government of Bangladesh.

On February 5, 2016, hackers flooded the Fed Bank with requests for transfers totaling almost $1 billion. Around $101 million was successfully withdrawn before suspicions were raised, much of which ended up in the laxly regulated Philippine casino sector and disappeared without trace.

FSI has identified two Lazarus offshoots, Bluenoroff, a group focused mainly on attacking foreign financial institutions; and Andariel, which concerns itself with attacking South Korean businesses and government agencies.

Cyber-security firms have also accused North Korea of being behind the WannaCry ransomware attack that infected more than 300,000 computers in 150 countries in May.

But its not just large-scale operations: as well as pilfering funds from online gambling sites, North Korea engages in hacking ATMs to steal banking information, as well as stealing, and mining, bitcoin and other digital currencies.

North Korea does not just hack online gambling sites, it has also been reported to operate them, mainly targeting South Koreans.

Last year, Cho Hyun-chun, the chief of South Koreas Defense Security Command, said its northern neighbors online gambling operations and other illegal online businesses generated roughly $866 million per year.

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North Korean Hackers More Interested in Cash (and Gambling Sites) Than State Secrets - Casino.Org News

Jackpot gambling creates a unique set of problems for addicts, as they are hooked on the games and seem to be in a trance-like state when playing, said experts.

Some jackpot machine addicts may also find themselves skipping meals, and having an illusion of control over the machine.

As those who play jackpot machines tend to be "escape gamblers" seeking to avoid problems in real life, they may also require more targeted forms of treatment focused on helping them cope with negative emotions, said National Addictions Management Service (Nams) senior psychologist Lawrence Tan.

About 14 per cent of gamblers seen by Nams engage in jackpot machine gambling, and nine out of 10 are men aged around 40 on average.

While the problem gambling rate dropped from 2.6 per cent in 2011 to 0.7 per cent in 2014, according to a gambling survey carried out every three years by the National Council on Problem Gambling, analysis from consultancy H2 Gambling Capital also found that gamblers in Singapore suffered the second-greatest losses per capita in the world last year, after Australia.

A report in The Economist on this data showed that gamblers here lost US$5.9 billion (S$8 billion) last year.

9 in 10

Proportion of gamblers engaging in jackpot machine gambling who are men aged around 40 on average.

The general treatment for gamblers targets their distorted beliefs, aiming to modify them to more rational ones, said Mr Tan. For example, one of Nams' clients, a woman in her 50s, could not stop gambling on jackpot machines, and believed she could predict eventual outcomes by spotting patterns in the game.

Near-misses on the machine also egged her on, and she lost about $40,000 over three to four years.

Addiction specialist Thomas Lee said those addicted to jackpot machines are drawn to the visual and auditory stimulation, with exciting music and images on the screen.

"We need to address why a person is attracted to jackpot machines, find out what triggers a person to play on the machine, and do some cognitive challenges or therapy to identify the false beliefs that a jackpot player has," he said of treatment methods. "We need to challenge these thoughts, so the person may not be hooked as readily as before."

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Licking the gambling problem - The Straits Times

India is currently suffering from an illegal form of gambling called satta matka. The lottery game is becoming increasingly popular beyond the boundaries of the countrys law.

Unfortunately, the problem is showing no signs of going away and it is only expected to become more of an issue over the coming years.

Image Credit: pokercontrols.ca

Unless you have visited India recently or have relations based in the country, its highly likely you will be looking at the start of this article with a puzzled expression. Matka gambling, also known as satta or satta matka is a type of lottery game.

It initially involved players betting on the opening and closing values of cotton on the New York Cotton Exchange. It can be traced back to a time before Indias independence in 1947 and is believed to have originally been called Ankuda Jugar.

In the 1960s, the game was altered due to the New York Cotton Exchange clamping down on the betting. After this other ways of generating random numbers were used, such as dealing cards or pulling slips out from a pot called a matka.

Image Credit: crosswalk.com

Ever since its introduction to Indian society, matka gambling has increased in its popularity. This has particularly been the case with idlers and compulsive gamblers.

When the New York Cotton Exchange halted the practice of satta matka gambling in 1961, the government hoped that the recreation would disappear.

However, it simply evolved. In 1962, Kalyanji Bhagat set up the Worli matka. Just two years later, the rules were modified by Rattan Khatri who invented the New Worli matka.

These games saw the two men go on to become known as The Matka Kings.

This established solid foundations for more modern versions of satta matka in India. The activity then hit a peak during the boom period of the 1980s and 1990s.

Bets exceeding the value of Rs.500 crore each month would be recorded. The Mumbai police attempted to pull off a huge crackdown on matka betting operations but it simply drove the games underground and to the outskirts of the city.

By 1995, satta matka was in a state of slight decline. This has continued with the number of bookies in Mumbai falling from 2,000 in the mid-90s to just over 300 in the present day.

In comparison to the heights hit in the 80s and 90s, it is now estimated that just Rs.100 crore are bet on matka games each month.

Matka gambling isnt just located in Mumbai anymore either, it is now believed to be most popular in the region of Maharashtra.

Image Credit: indiatvnews.com

Individuals that have earned a huge sum of money from their involvement in satta matka gambling have become known as Matka Kings. Two individuals stand out as the most revered Matka Kings.

Kalyanji Bhagat Born into a farming family in the peaceful village of Ratadia in Gujarat, Bhagat was part of a family that had their name given to them by the King Kutch due to their commitment to religion.

Bhagat became involved in satta matka after migrating to Bombay in 1941. He initially worked a range of jobs including selling spices to working in a grocery store before becoming one of the great matka pioneers.

He was the first individual to accept bets based on the opening and closing prices of cotton on the New York Cotton Exchange.

He made his fortune by operating his satta matka gaming business out of his own building in Vinod Mahal, Worli.

Rattan Khatri As one of the original Matka Kings, Khatri held a firm grasp over a nationwide illegal gambling network in India throughout the 1960s to the 1990s.

Khatris involvement in matka gambling started in the humble Dhanji Street in Mumbadevi. As interest in his business increased and the bets became larger, the punters wanted more. Khatri delivered this by offering a syndicate for a lottery where three cards were randomly drawn to determine a daily winning number.

Khatri built a reputation for honesty as he was one of the only operators to carry out the draw in front of the players.

Khatri was imprisoned during the emergency in India of 1975 to 1977. He served 19 months in jail and has now retired from all forms of gambling.

Image Credit: livemint.com

Matka gambling is not without is controversies. In 2008, one Matka King was the victim of an alleged assassination.

Suresh Bhagat was travelling in his Mahindra Scorpio car with his lawyer and bodyguards. The vehicle was hit by a truck, killing all six people in the car. Police investigations found that Bhagats son, Hitesh, and his mother, Jaya, had been behind the plot to kill Suresh.

The money earned through running statta matka games was pin pointed as the motive for the murder.

In 2015, a politician identified as Kiran was caught up in a matka gambling scandal in Goa too. A First Information Report (FIR) petition was launched by social activist Kashinath Shetye after a newspaper article linked the politician, high-profile police, and gambling professionals with the activity.

It was the first time that political figures had openly been linked with participating in the satta matka games.

Recent reports now suggest matka gambling is experiencing a period of rejuvenation.

A recent article in the Navhind Times stated that police are struggling to block websites promoting playing satta matka games for money. Despite claiming to have control over the activity in its land-based form, they are now fighting a battle online.

The fact that matka gambling has even influenced Bollywood means that its impact on pop culture in India has brought it into the mainstream once again.

The movie Dharmatma was based on the life of Matka King Rattan Khatri. It seems that satta matka might well be considered illegal in India but that has not stopped millions of players from continuing to bet on it.

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Matka Gambling/ Satta - Casino.Org News (blog)

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With the busy World Series of Poker schedule behind us, PokerNews brings you a Vegas tale from Sin Citys past. Take a break from the poker action and check out one of gamblings most amazing runs at the craps table.

The California Hotel and Casino sits a bit off the beaten path. Located far away from the Las Vegas Strip, the old casino founded in 1975 sits at the intersection of East Ogden Avenue and North Main Street. Main Street Station is across the street, but the Cal sits a bit outside the unique festive atmosphere of the Fremont Street experience.

The casino has long catered to residents of Hawaii and a trip inside exudes that relaxed atmosphere that founder Sam Boyd brought to the property. That effort attracted many gamblers from the islands looking for a good gamble and they still flock to the action there today. The state doesnt have casino gambling and from its early days, Boyd offered cheap vacation packages for islanders and even island culinary delights, and still does. Deals on chartered flights from Hawaii sometimes were as low as $9.90.

The Cals website even uses the tagline, Aloha Spoken Here, and dealers even sport Hawaiian-print shirts. The casino has become so ingrained with many island gamblers that in 2008 the University of Hawaii Press published the book California Hotel and Casino: Hawaiis Home Away From Home. Flying over for weddings and other special occasions at the downtown casino became a regular for many islanders.

Craps is a fairly easy game. In essence, a shooter rolls to establish a point number (4, 5, 6, 8, 9, 10) and then attempts to roll that number again before hitting a seven (crapping out). Wagers on the board vary, but if the shooter hits that point number without rolling a seven, those betting with the shooter win. A few nice rolls can certainly make for a fun night.

However, rolls rarely even make it into the double-digits and streaks of more than 30 minutes are rare. But on May 28, 1989, Oahu native Stanley Fujitake defied all the odds. A regular at the Cal, Fujitake was also a regular dice player. Around midnight, he dropped $5 on the pass line and took the dice in hand. What followed became a Las Vegas legend.

"There were at least 30 to 40 people trying to place bets at his table."

Fujitake continued to roll for just over three hours. Crowds gathered around throughout the night to take in the mystical roll those red dice bouncing along the green felt and hitting point number after point number.

Guido Metzger was dealing craps at a table next to Fujitakes table that night. Now director of casino operations for Boyd Gamings downtown properties, Metzger remembers the as something he had never seen before at a casino as dealers struggled to keep up with players wins as more and more players tried to squeeze into the action.

They had trouble keeping up with the chip payouts that night, Metzger said in 2014 in an issue of Boyd Buzz. My table was empty. But there were at least 30 to 40 people trying to place bets at his table. They couldn't get fills to the table fast enough and had to start issuing scrip [casino credit] because not enough people were going to the cage and cashing in their chips."

During his historic night, Fujitake rolled 118 times for 18 pass line winners. After beginning with the table minimum, the sharpshooter had increased his bet to the table maximum of $1,000 when he finally passed the dice. Friends said on a previous trip Fujitake has rolled the dice for an hour and 45 minutes. Casino staff were astounded at the scene.

Half an hour is average, over an hour is amazing, but more than three hours is totally astounding, casino manager John Repetti told the News at the Cal in July of 89 after Fujitakes accomplishment.

The craps king passed away in 2000, but his widow Satsuko recently spoke with Hawaii News Now about that amazing night.

"It was a miracle, because it's impossible to hold the dice," said Satsuko, who introduced her husband to the game. "It doesn't happen all the time, maybe it's only once in a lifetime deal."

Fujitake took home about $30,000 that night, Satsuko said, and the California Hotel and Casino paid out about $750,000 in winnings to players gathered around with their pass line and other bets at the table.

That was one of the ironic things about his roll the other players at the table ended up winning a lot more money than Stanley did! says David Strow, Boyd Gaming vice president of of corporate communications.

While the casino may have lost big bucks that night, Boyd took it in stride and turned the legend of Stanley Fujitake into a marketing opportunity, and reward, for craps players. He was nicknamed The Golden Arm and the casino has since hosted the the Golden Arm Club. Inside a glass trophy case, Fujitakes hand is cast in bronze holding those winning dice from that night.

Next to the case, small golden plaques display the names of all those players who have rolled for an hour or more become members of the club, which averages about on player a month.

How does one earn entry into the Golden Arm Club? Simply roll without sevening out for an hour. More than 300 players can now call themselves members. Roll for 90 minutes or obtain Golden Arm status more than once and your name gets placed on the even more exclusive Platinum Wall located on the mezzanine level of the casino. Fujitake was a platinum member himself after reaching the one-hour threshold a staggering four times.

The Fujitakes visited the California often and while he may be gone, the Hawaiian craps champ wont be forgotten. The Cal even hosts the annual Golden Arm Craps Tournament in his honor. His wife Satsuko told Hawaii News Now: "As my husband of 54 years, in my heart, he is still the champ to me and will be forever.

Have you ever wanted to write your own articles about poker? Maybe you've got some experiences or opinions about poker that you'd like to share. PokerNews is proud to launch The PN Blog where you can have a platform to make your voice heard. Learn more here.

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A Gambling Tale: Stanley Fujitake and One Amazing Roll - PokerNews.com

The nation of Malta long a pioneer in internet gambling is quickly moving ahead with plans to allow for the legal use of bitcoin and other cryptocurrencies at online casinos.

In a new interview, Joseph Cuschieri, executive chairman of the Malta Gaming Authority (MGA), which oversees the country's land-based and online casinos, said that the regulatory body has commissioned a detailed technical study to explore the best path forward for legal and regulated cryptocurrency use in gambling.

"We believe that cryptocurrencies and blockchain technologies are emerging innovations which need analysis and an assessment of the risks and opportunities for potential adoption in the gaming sector," he said.

Cuschieri told CoinDesk:

"The shape and form of the framework governing cryptocurrencies will be announced in due course and once the risk assessment is carried out. Once the results of the study are evaluated, the MGA will make its position official on how cryptocurrencies will be adopted."

The agency expects to detail the findings from its study in the fourth quarter of 2017.

Cuschieri's comments come on the heels of a recently released white paper by the MGA exploring how its legal and regulatory approach to online gambling must evolve to keep pace with technology.

One of the report's conclusions is that cryptocurrencies should be embraced for purposes of competitive advantage, and because more widespread use and application of these technologies is certain.

It stated:

"The Authority is cognizant that the rise of crypto-currencies is inevitable. Conscious of the need to remain at the forefront of innovation and to keep up with new developments in technology and the industry ...the Authority is committed to allow the use of cryptocurrencies by its licensees in the immediate future."

The push for legal and regulated cryptocurrency gambling is a component of a broader, aggressive push by the Maltese government to develop a blockchain strategy and position itself at the forefront of the technology's adoption.

"We must be on the frontline in embracing this crucial innovation, and we cannot just wait for others to take action and copy them. We must be the ones that others copy," Prime Minister Joseph Muscat said in April when the draft strategy was first revealed.

Silvio Schembri, Maltas parliamentary secretary for digital economy, told local press this week that the island is committed to rolling out distributed ledger technology throughout the public sector and attracting blockchain companies.

He said:

"We've heard enough about the opportunities posed by blockchain and it's now time to put words into action to create new opportunities for both citizens and the economy. It's my priority to turn this vision into a reality."

But creating a regulatory framework for the fast-moving technology requires balancing the careful study of consumer protection and anti-money laundering implications with competitive pressures from other jurisdictions.

Bitmalta, a local cryptocurrency advocacy group, applauded the MGA's initiative, but called upon the agency to move quickly in order to keep pace with other nations looking at legalized cryptocurrency gambling.

The group said in a statement:

"Other jurisdictions such as the UK have already legislated in favor of the use of cryptocurrencies by remote gaming operators, and unless Malta wants to play second fiddle to such other jurisdictions, it should ramp up its efforts to embrace such technologies."

Cuschieri insisted that while a key goal is to attract new operators and investment to the island, he wouldnt be welcoming in just anybody.

"Our key priority is always the integrity of our jurisdiction. Whoever does not meet our fit and proper, regulatory, anti-money laundering and consumer protection standards is not welcome in Malta," he said.

Bitcoin and cryptocurrency casinos have been one of the predominant applications of blockchain technology since its invention a decade ago, but many of these entities have operated out of unregulated or lightly regulated jurisdictions raising concerns about their use by unsavory actors.

Cuschieri reckons that the most straightforward way to tame illicit behavior is to bring these types of casinos out of the shadows.

"We firmly believe that the best way to control gambling, prevent criminal activity and protect players is through robust and effective regulation and enforcement," he said, adding:

"Prohibition or barriers only lead to underground activities and black market operations. The latter is not in the best interest of players and the sector in general. That is why it is best to establish transparent regulatory regimes so that we bring integrity and trust into the system."

Colored diceimage via Shutterstock

The leader in blockchain news, CoinDesk is an independent media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. Have breaking news or a story tip to send to our journalists? Contact us at [emailprotected].

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Malta Is Gearing up to Greenlight Bitcoin Gambling - CoinDesk

Ontario is preparing to hand over control of its gambling operations in the Greater Toronto Area to a private operator as the government seeks to drive a gambling boom in the province.

Within a few weeks, the Ontario Lottery and Gaming Corp. (OLG) will select a business to run its casino and thousands of slot machines in the GTA for the next two decades. The process has attracted foreign casino operators who have been drawn by the promise of more gambling and fast profit in a thriving Toronto region.

At least three companies are in the final round to take over the gambling at Torontos Woodbine racetrack, Ajax Downs and the Great Blue Heron Casino in Port Perry, The Globe and Mail has learned. According to people familiar with the request-for-proposal process who were not authorized to speak publicly, the companies bidding include Canadas Brookfield Asset Management, American-based Caesars Entertainment and Malaysian conglomerate Genting Group.

The OLG says Torontos market is still largely underserved, with slots at two horse-racing tracks and a rural casino an hour away from downtown. The sale would allow a private operator to rebuild the three sites as full-fledged casinos and add a fourth gambling establishment, though those changes require municipal approvals.

By outsourcing gambling, the agency says it is aiming to put more money in provincial coffers while offloading the costs of upgrading and replacing aging casino buildings and equipment.

Whichever company wins the contract will earn a minimum of $72-million annually for the 22 years of the deal, as well as up to 70 per cent of gambling revenue, according to the OLG. In exchange, the OLG has asked companies to present aggressive targets for increasing revenue, an official close to the process says. The agencys casinos in the GTA earned nearly $1-billion in revenue last year.

The greatest prize will be the facility at Woodbine. Located at the north end of the city near the churn of passengers at Toronto Pearson International Airport, Canadas busiest, and a congested stretch of Highway 401, a new operator could transform the site with a casino, adding thousands of slot machines and gambling tables. The operator could also build a fourth casino in the GTA if it can find a willing host municipality.

Im looking forward to the long-awaited day when we can inaugurate a Vegas North right here in the riding, bringing tourism, concerts, conferences, activity and buzz, said Liberal MPP Shafiq Qaadri, whose riding includes Woodbine. He said that whether the new operator will be allowed to provide table games such as blackjack or roulette at Woodbine will be left to Toronto city council.

The future of the horse-racing site as a casino has been contentious and met some opposition at city council. However, Woodbine Entertainment, which helps run the site, has been a long-time advocate for development.

The OLGs modernization plan is the catalyst for Woodbine Entertainment to unlock the value of the Woodbine lands to sustain horse racing on our 680-acre site and bring real economic development to Rexdale, Woodbine spokesman John Siscos said.

More than 400 workers have picketed Woodbine since they were locked out in mid-July after failing to reach a collective agreement. Among the workers concerns is the future of their government pensions after their employment is transferred to a private operator.

A subsidiary of Caesars is currently exiting bankruptcy protection and Genting has been investigated for its part in an alleged kickback scheme where billions of dollars were misappropriated from Malaysian state firms and funnelled to the party controlled by the countrys Prime Minister.

Brookfield, Caesars and Genting declined to comment.

As part of the bidding process, each company is undergoing a review of its conduct, according to OLG spokeswoman Allison MacNeil. Part of that process involves undergoing an extensive due-diligence process into current and past business conduct [] examines a gaming operators ability to act in accordance with the law, with integrity, honesty and in the public interest.

Facing increasing competition from internet gambling and casinos in the United States, and with limited gambling options in Ontario, the OLGs revenues have been largely flat in recent years and the agency is operating with increasingly dated buildings and equipment. In a bid to reverse its revenue slide and increase its profit, the OLG has sold nearly half its casinos and slot machines to the private sector over the past two years as part of a process the agency has dubbed modernization.

The Casino Thousand Islands and slots at Kawartha Downs were the first to be sold, for $46.9-million in September, 2015. The sales price for slots and casinos sold to private entities in southwest Ontario, the provinces north and Ottawa have not yet been released.

In 2010, Ontario asked for a strategic review of gaming, they determined areas were underserved, OLG spokesman Rui Brum said. Our revenues were flat, especially along the border.

The OLG is the Ontario governments largest source of non-tax revenue, turning over $2.3-billion in profits to the province in the 2015-16 fiscal year. The agency wants to provide an extra $900-million annually by 2021 once its outsourcing process is over.

While the OLG will continue to have an oversight role at the private casinos, all day-to-day operations and property will be transferred to the private operator. Local municipalities will also continue to receive a share of revenue.

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Ontario to select new private operator for GTA gambling sites - The Globe and Mail

BERLIN (Reuters) - Turkish President Tayyip Erdogan is putting at risk vital and long-established relations with Germany, Finance Minister Wolfgang Schaeuble said in an interview published on Monday.

Relations, already strained over Erdogan's security crackdown since a coup attempt against him a year ago, have deteriorated further over the arrest in Turkey of six rights activists, including one German, two weeks ago.

"He is jeopardising the centuries-old partnership," Schaeuble said of Erdogan."It is dramatic, as there is really a lot that connects us. But we can't allow ourselves to be blackmailed," the minister said in an interview with daily Bild.

Chancellor Angela Merkel's chief of staff has said Turkey's behaviour was "unacceptable" and Germany has a duty to protect its citizens and companies, but also wanted to maintain strong relations.

Adding to the tensions is Turkey's refusal to let German lawmakers visit soldiers stationed at two air bases.

"It worries me that we have a NATO country that forbids visits by other NATO members," Volker Kauder, head of Merkel's conservative bloc in parliament, told broadcaster ARD.

"This is an intolerable situation and we must say clearly to Turkey: this is not on."

Asked whether EU accession talks with Turkey could be pursued or talks on updating the customs between them continued, Kauder replied: "Both points are of course means of pressuring Turkey. We know that Turkey has considerable economic problems."

The chairman of Germany's parliamentary defence committee, Wolfgang Hellmich, told daily Die Welt: "The government should take a clear stand and say: we are setting a deadline of end-August, then there must be a decision."

For historical reasons, Germany's armed forces are under parliamentary control, and Berlin insists parliamentarians must have access to its soldiers. Turkey's refusal to let lawmakers visit one air base led to Berlin relocating those troops to Jordan.

In a move by Turkey to ease tensions, it said it was not requesting German help in investigating German firms suspected of backing terrorism, a German Interior Ministry spokesman said.

"(The Turkish interior minister) underscored that there were no investigations against German firms by Turkish authorities in Turkey or in Germany," Tobias Plate said, adding that Ankara's submission of a list of nearly 700 companies through Interpol had stemmed from "a communications problem".

Turkish Deputy Prime Minister Mehmet Simsek told German business daily Handelsblatt German companies were welcome and "should have no reason to worry."

"I want to assure German business that German companies are not subject to investigation for financing terrorism by the Turkish authorities," he said.

Germany has warned nationals travelling to Turkey that they did so at their own risk, and Schaeuble was quoted on Friday as comparing Turkey with the former communist East German state, the German Democratic Republic.

Writing by Paul Carrel; Editing by Robin Pomeroy

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Erdogan gambling with centuries-old ties to Germany: Schaeuble - Reuters

PETALING JAYA: Operators of illegal gambling outlets have moved their businesses into less prominent areas housing estates, commercial centres and even shopping malls in an attempt to stay under the radar.

Bandar Baru Rawang, where the Selayang Municipal Council-owned wet market complex and several blocks of multi-storey shophouses are located, has been turned into a nest of illegal gambling dens.

There are about 20 illegal gaming outlets on various streets there.

Jalan Bandar Rawang 3, where the market complex is situated, seems to have the most, with several others on Jalan Bandar Rawang 4.

At least three outlets were also found operating at the Taman Bukit Belimbing housing estate and Taman Harmoni shophouses in Balakong.

Five outlets were found at various spots around Kampung Baru Sungai Chua in Kajang, one of them next to a mamak shop.

Checks showed that several shopping malls in the Klang Valley including in Petaling Jaya, Kajang, Klang and Subang have amusement centres that were turned into gambling dens.

Aside from the ones in malls, most of the outlets are on the ground floor, with patrons allowed access only through an inconspicuous door on the side or through a partially closed entrance.

If patrons ring the doorbell, the operators scrutinise them via CCTV cameras at the entrance; only regulars are readily admitted.

For the non-regulars, they have to ring the doorbell several times or make a number of appearances before being allowed to enter, if at all.

The operators make it a point to reject those who they are not comfortable with or who look like plainclothes policemen.

Once inside, patrons are given free beverages.

In the face of stiff competition from their rivals, some operators even offer free food like nasi lemak bungkus and instant noodles to regulars.

Customers must deposit a minimum of RM10 to try their luck at any of the games.

Some outlets are dimly lit with comfortable seating, while others are more spartan, though all offer a similar range of games.

Besides online gambling such as roulette, blackjack and baccarat, patrons can also try a variety of slot machines.

The operators have also found a new setup to help disguise their gambling activities: a multi-panel electronic game box that can accommodate up to eight players at a time.

Players get 1,000 points for RM10 and use these to bet on the numbers that come up in these games, which include football and car racing. Their final points score translates to how much they win or lose.

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You'll never guess where gambling dens are being moved to - The Star Online