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Major deal puts Crown Resorts operations at risk as regulators swoop in

September 4, 2019 by Admin

The gaming regulator for the eastern state of New South Wales is investigating possible license violations by local casino operator, Crown Resorts.

The sale of an almost 20% stake in its business to Asian counterpart Melco Resorts and Entertainment Limited, has attracted the scrutiny of the New South Wales Independent Liquor and Gaming Authority. The transaction may constitute a ‘breach’ of the operator’s license or other regulatory covenants.

Sydney operation in jeopardy

AS reported by GGRAsia, the investigation, headed by former New South Wales Supreme Court Judge, Patricia Bergin could have devastating implications for the company. The judge will consider whether Crown Resorts Limited should be permitted to retain the state-issued casino license attached to their sprawling Crown Sydney facility. The facility is in the harborside Barangaroo district of central Sydney and is due to begin welcoming gamblers from 2021.

High stakes

Crown Resorts is currently already responsible for the Crown Perth venue in Western Australia as well as Victoria’s monolithic Crown Melbourne. In May, Crown made a bold move by signing off on a $1.2 billion deal whereby its largest shareholder, CPH Crown Holdings Proprietary Limited, offloaded a 19.9% stake in its business to Hong Kong-listed Melco Resorts and Entertainment Limited.

Deal on hold

CPH Crown Holdings Proprietary Limited, under the control of controversial Australian billionaire businessman, James Packer, initiated this deal in June by selling just over 67.67 million of the shares it held in Crown Resorts Limited to Melco. This near 10% sell-off was due to be followed by a similarly-sized transaction before the end of next month.

In the face of the current situation, however, the buyer declared yesterday that it had postponed its acquisition as ‘to allow more time for the relevant Australian regulatory processes to be completed.’

Lawrence Ho Yau Lung, chairman and CEO of Melco, stated that his company was willing to participate in ‘in any probity review process and cooperate with any inquiry’ regarding its acquisition of the shares in Crown Resorts Limited.

Under the magnifying glass

The New South Wales Independent Liquor and Gaming Authority have explained that the scope of their investigation goes beyond the legality of the deal itself. They are also seeking to determine whether Ho and his representatives are of ‘good repute’ in regards to their ‘character, honesty and integrity’ and whether they have connections with ‘any person, body or association who is not of good repute’ or ‘otherwise not suitable to be associated’ with the local gaming license held by Crown.

Impairment charges pummel Donaco International Limited amidst annual losses

September 1, 2019 by Admin

Impairment charges pummel Donaco International Limited amidst annual losses

Asian casino operator Donaco International Limited have found themselves in troubled waters.

Their recently released financial results for the twelve months to the end of June show an annual loss that widened by 55.8% year-on-year to hit nearly $130.88 million. The cause was $134.99 million in non-cash impairment charges.

A report obtained from GGRAsia, reveals that the Sydney-listed firm used an official filing to detail the impairment charges. These included a $125.86 million setback linked to the value of the casino license for its Star Vegas Resort and Club property. This followed an attempt by the owner of the Cambodian venue to terminate its 50-year lease. The matter currently remains the subject of litigation.

Profits through the floor

Despite the impairment penalties, Donaco’s underlying net profit after tax, for the twelve-month period had reached approximately $6.19 million. However, this represented a year-on-year decline of 49.7%.

Overall annual revenues had plummeted by 6.8% to hit approximately $58.21 million, while its earnings before interest, tax, depreciation, and amortization were 30.2% lower at around $19.96 million.

Donaco cited rising competition in the Cambodian casino market as the cause of an overall annual reduction in revenues for its Star Vegas Resort and Club. The revenues fell by a little over 2.8% year-on-year to slightly above $43.64 million. The venue’s net gaming revenues also shrank by 9.9%.

To add to the firm’s woes, unfavourable junket deals, linked to previous management team members, had negatively impacted their facility located in the border town of Poipet. Donaco hopes that a process of renegotiating some of these arrangements will yield favourable results.

Seemingly defiant of the growing adversity at its doorstep, Donaco’s Star Vegas Resort and Club improved on the previous year’s visitor numbers. The venue recorded an impressive VIP turnover swell of 76% ‘due to the full-year impact of junkets brought in to replace those poached by the Thai vendor in the fiscal year 2018’ according to the report.

Bouncing back in Vietnam:

According to Donaco, “a weak start to the year’ at their gaming operation inside northern Vietnam’s Aristo International Hotel set their VIP business back 54%. This, in turn, led to an annual drop in 0/revenues by 16.6% year-on-year to around $14.57 million

Fortune shifted in the firm’s favour, with the enterprise recovering in the second half of the year as they posted a full-year win rate that was 0.18 percentage points higher than the previous twelve-month period at 2.09%.

Changing faces as heads roll:

GGRAsia further reported that Donaco subsequently used a second filing to report significant operational and management changes. The recent appointment of Paul Arbuckle as its new Chief Executive Office stands out as the most prominent. A desire for a ‘fresh start’ inspired the removal from its board in July of two founding members. Joey Lim Keong Yew and Ben Lim Keong Hoe, the grandsons of Genting Malaysia Berhad and founder Lim Goh Tong were obliged to vacate their posts for the sake of the organization’s future.

A humbling renewal:

In poignant fashion, Donaco International Limited used this presentation as a means to lay them bare. Reflecting on their most recent full-year results, they admitted that a ‘lack of effective management and leadership under [the] former executive team’ had lead to this catastrophic freefall in the company’s fortunes.

The firm was happy to share that the newly appointed senior leadership had made ‘an immediate positive impact’, with their July results from both operations showing significant improvement.

The best Fantasy-themed online pokies

August 30, 2019 by Admin

Fantasy is a genre that touches most, if not all of us and is present throughout our lives in entertainment, games, and stories. Tales of enchantments, magic, distant kingdoms and impossible creatures endure in our imagination and endure well beyond our childhoods.

These games are made for the avid fantasy fan, offering all the adventure, intrigue and sorcery you can handle.

Popular Fantasy-Themed Pokies

Pokies, or slots, lend themselves particularly well to the fantasy them. Major titles such as The Lord of the Rings have gained great popularity with players as they combine all the magical ambiance and imagery of the well-known franchise with the fun of online gambling. Online developers have had their hands full, churning out more themed games to keep up with an enthusiastic market. The players have spoken and it’s time to review some of the best and most popular fantasy-themed slots on offer.

Fantasy realm

Fantasy realm from Cryptologic is a minimalistic yet striking online slot game, based on the same design as the Movie Mayhem series. All the stock fantasy characters that you would expect are present, including wizards, princesses, fairies, and dragons. With a beautiful night-time theme and carefully crafted symbols and ambiance, it immerses the player in a magical experience.

Asian Fantasy

Asian fantasy, a fairly recent release, developed by Skywind, includes a visually rich Asian theme, with striking images of emperors, dragons and ceremonial daggers. The game features a mesmerizing oriental audio theme that keeps fans of Asian culture coming back to this engaging 5-reel, 40 line slot game.

Magic Spell Slots

A ‘veteran’ game, Magic spell slots is over a decade old but still gaining in popularity. The game features spectacular rewards, such as a 100 000 jackpot and a magic spell bonus round. With charming graphics that look like they jumped right out of a classic video game and engaging game modes, it’s no wonder that this title endures to this day.

Game of Thrones Slots

Game of Thrones, a story that needs little introduction has exploded into a global phenomenon. George RR Martin’s tale translates well into slot form and keep fans of the show happy and engaged with the original soundtrack of the show and four free spin sessions to pick from, with the Stark, Lannister, Baratheon, and Targaryen houses all being represented. This slot is a feature and ambient rich experience with exciting payouts and is sure to match the popularity of the show with players

Magic Portals Slot

Magic portals slot makes all the difference in its visual presentation and playability. The game, developed by Net Entertainment, explores the theme of sorceresses and wizards. The atmosphere created by the game is sublimely magical, with striking background graphics and beautifully drawn characters. One of the main appeals of the game is how magical symbols can be transformed into ‘wilds’ with every spin, which translates to bigger, more exciting wins for the player.

Spin Sorceress Slot

Spin Sorceress is a medieval-themed slot game, where the main character, the sorceress herself, plays a crucial role in the gameplay. She can transform all symbols into wild symbols, giving the player an enhanced shot at winning big. The game is bright and visually exciting. A free game feature adds to the appeal of this title as a player can get up to 20 free spins and 3 sorceress wild reels on each free spin. The mystical, snowy theme is a delight for fans of classic fantasy.

Believe in magic

Fantasy endures because of its universal appeal, and the child in all of us will always be excited at the prospect of a magical adventure. Combined with the thrill of potentially winning a fortune, each experience really does feel like an epic quest for treasure.

This enthralling genre of slots continues to entice real-money casino buffs and may just end up being your favourite too.

Suncity Group closing Australian junket operations

August 26, 2019 by Admin

According to reports, Suncity Group, the Asian junket firm, has elected to abandon the Australian casino market. This follows allegations that Chinese organized crime syndicates have been aided in illegal money laundering by VIP operations in Melbourne and Sydney.

Reports in an earlier story from The Age newspaper reveal this action to be linked to the start of inquiries by the Australian Criminal Intelligence Commission (ACIC) which concern the possibility of high-roller gambling lounges like Suncity Group (based in Macau) assisting in the facilitation of illegal actions such as money laundering.

As reported by GGRAsia the firm is responsible for VIP gaming lounges inside the giant Crown Melbourne. which is operated by The Star Entertainment Group Limited’s as well as the notable The Star Sydney Crown Resorts Limited. However, beginning with Sydney then followed by Melbourne, the company’s junket services for both of these are now ostensibly set to be closed down.

Market tumble

According to Chief Executive Officer for The Star, Matt Bekier, his firm’s most recent annual turnover from foreign high-rollers had dropped. And, the numbers are significant. The firm saw a 30.7% year-on-year to approximately $28.8 billion. He also explained that the Brisbane-based operator’s comparable international VIP revenues over had, the course of the same period of twelve months, declined by a considerable 16.7% to hit just above $397.1 million.

Bekier is reported to have said, “The fixed room of Suncity [Group] will be discontinued here. It had a small fixed room. That room is being closed.”

Investigation Underway:

It was amidst allegations that the business of Crown Resorts Limited was being used to illegally launder money by organized gangs that The ACIC inquiry was launched last month. Although not specifically mentioned, word about is that Suncity apparently went into overdrive following the emergence of claims that Alvin Chau Cheok Wa – the privately-held firm’s boss – had been refused entry to Australia.

Quick response

The Asian casino firm Suncity Group Holdings, for which Chau also acts as Chairperson, responded to the allegations of impropriety by stating that it was not being officially investigated. Moreover, the firm has been emphatic about the billionaire businessman not having any plans of traveling to Australia in the next twelve months.

Suncity Group Holdings Limited refutes rumours around Australian investigation

August 19, 2019 by Admin

Suncity Group Holdings Limited, the Asian casino firm, is reported to have released an official statement to deny claims recently made that it is being investigated by authorities in Australia. The inquiry is said to involve alleged links between Chinese crime syndicates and the operator’s controlling shareholder.

Possible Criminal Links

According to a report on Monday, the Hong Kong-listed firm’s name allegedly came up late last week as claims were being made that Australia’s ongoing Targeting Criminal Wealth investigation was investigating criminal gangs possibly using junket services in the country as a means of laundering money through casinos.

Admission Speculations

Reports by GGRAsia state that Alvin Chau Cheok Wa was a significant stakeholder in Suncity Group Holdings Limited while serving as the boss for privately-held Macau junket firm, Suncity Group. Investigators have yet to release any specifics about their alleged inquiries, but rumour has it they upped the ante on their efforts after claims surfaced that the billionaire businessman may have recently been refused entry to Australia.

Determined denial

Suncity Group Holdings Limited, in response to these whispers, which have since grown louder, stated on Monday that neither the company nor Chau were being investigated. In addition to this, it stated that that the billionaire wasn’t scheduled to travel to Australia in the next twelve months.

Suncity is reported to have said, “The board of Suncity Group Holdings Limited noticed certain media articles recently published in relation to Alvin Chau Cheok Wa in relation to, among others, investigation of certain Australian casinos. He is not aware of the said investigation of such Australian casinos. Mr. Chau clarifies that he is not subject to any Australian investigation as at the date of this announcement. The listed company would like to clarify that [Suncity Group Holdings Limited together with its subsidiaries] has no business operations in Australia.”

Melbourne link

The junket-operating Suncity Group is known, however, for running 14 high-roller clubs run via casinos in a number of jurisdictions. These include the Philippines, South Korea, Cambodia, Vietnam, and Australia. This portfolio, according to local newspapers, encompasses a VIP lounge inside Crown Resorts Limited’s giant Crown Melbourne complex, which is currently under investigation for allegedly helping high-value Chinese individuals launder money in Australia.

Crown Casino Denies Ties to Organised Crime

August 14, 2019 by Admin

Allegations that tie Crown Casino to organized crime, money laundering, and human trafficking have been investigated in a television documentary produced by an Australian TV company and two newspapers.

Thousands of documents ostensibly leaked from the company owning casinos in the cities of Melbourne and Perth form the basis of the film’s investigation. A follow-up documentary is planned about the company’s alleged shenanigans in Sydney.

The film alleges shocking links between Crown and organized crime, claiming the company turned a “blind eye” to money laundering, as well as exploiting loopholes in Australia’s immigration processes. The film investigates allegations that the firm flew wealthy Chinese gamblers into the country without having them undergo the requisite checks. It is also claimed that Crown Casino had business ties to an Australian brothel, which is suspected to be involved in human trafficking.

Independent MP, Andrew Wilkie, said “I now know of three police officers — two currently serving — who have openly said to my staff that in Victoria, Crown is regarded as the Vatican, an independent sovereign state all to its own where the laws of Victoria, the laws of the Commonwealth (of Australia) do not apply”

These allegations have seen the state of Victoria order it’s gambling office to look into these claims against the casino giant “as a matter of priority.” Demands by experts in Australia that anti-money laundering regulator AUSTRAC examines claims that money has been passed through Crown Casino by criminals have also been made.

In a series of newspaper advertisements, the company has vehemently denied the allegations, saying it wanted to set the “record straight in the face of a deceitful campaign against Crown.” Crown, in turn, has leveled its own accusations at the filmmakers of the TV documentary, claiming that the film has unfairly attempted to damage its reputation. The company stated that takes its regulatory obligations extremely seriously.

Lightning Box Games launches new Piñata Bucks video pokie

August 10, 2019 by Admin

It was only a matter of a month ago that Lightning Box Games developed its five-reel Astro Cat Deluxe video pokie and the developer is already back with a bang. The operator has now returned with the launch of its bright and exciting Piñata Bucks creation.

Exclusivity

In an official press statement published by European Gaming Media and Events, the firm stated that Piñata Bucks will first be availed on an exclusive basis via the SG Digital subsidiary of American iGaming giant, Scientific Games Corporation. Their slot machine, they say, is a ‘fun-filled title, holding a bonanza of a bonus.

Big Bonus

The firm stated that it uses its patented Reelfecta advance in its Mexican-theme pokie to offer 16 miniature reels alongside 1,296 pay-ways. Furthermore, online casino players of the game may trigger the title’s Lock and Spin feature from the base game. Players would be able to do this by gathering at least six piñata symbols at the same time. This feature, proclaimed the developer, follows this up by offering gamers five free spins where they may be awarded 16 more piñatas for ‘huge jackpot wins’.

Escalating selection:

The press release was used by Chief Executive Officer, for the Sydney-headquartered brand, Peter Causley, to state that the mobile-friendly Piñata Bucks features four separate jackpots encompassing minor, mini, major and grand prizes. The slot joins other recent releases, including Temple Cash: Frogs ’n Flies, Silver Lion, and Astro Plug, and to grow the company’s ‘burgeoning’ portfolio of video slots. Causely further stated, “We’re delighted to release Piñata Bucks, the newest Reelfecta title in the Lightning Box Games portfolio. With a fun theme, engaging graphics and huge win potential, Piñata Bucks could be an explosive adventure for players.”

Crown Resorts to be investigated by Australian officials over gambler visa fast-track claims

August 5, 2019 by Admin

Officials in Australia have begun investigations into Crown Resorts after it was recently alleged that the company gave preferential treatment to Chinese gamblers. Christian Porter, Attorney General, has made parliament aware that a probe will be taking place against Crown following numerous reports, along with other allegations, which surfaced within the media around visas being specially expedited for gamblers from China.

Further Investigation

Over the past few days many reports claiming that Crown Resorts employed travel agents known for their connections to drug trackers in order to bring gamblers from China to Australia have surfaced. The firm stands accused of money laundering at its casinos and fast-tracking the visas for the Chinese gamblers.

The allegations against government officials have been sent by Porter to the Australian Commission for Law Enforcement Integrity for further inquiry. The group is responsible for anti-corruption and the investigation of federal agencies. They will decide whether or not the allegations are worthy of investigation.

Reuters Reports

Commenting on the allegations Porter stated: “It is my view that there are sufficient concerns raised at least to warrant further investigations.”

Crown Resorts has firmly rejected the allegations, stating, however, that they will assist with any investigation. In a statement issued by Crown, the company holds that these allegations are ‘ill-informed and an attempt to smear the company.’

According to the report, Porter stated that if the Australian Commission finds no merit in the allegations and don’t find a need to investigate Crown, then the agency will have to provide him with clarity as to the reasons such a conclusion was reached. Upon receipt of this information, Porter will make the conclusion open to the public.

Losing Revenues

The venues of Crown Resorts in Australia have been losing revenues as a result of the crackdown on Chinese authorities which has seen wealthy Asian gamblers making sure to avoid foreign casinos. Crown Perth property saw a massive decrease in baccarat revenues in 2018. The company’s annual totals were down 57%. which is thought to be due primarily to gamblers from China no longer visiting the property.

The company has also seen a drop in shares by 3.6% since the allegations surfaced, and the company may see more damage if players are concerned about bringing their business to the brand.

Aussie Slots Studio Rebrands Itself

August 2, 2019 by Admin

Formerly known as Chance Interactive, the Sydney-based operator announced recently that they’ve rebranded the company as ReelPlay. The name change takes effect immediately.

The Australian games studio was founded by experienced gaming professionals in 2014 who promise to continue creating fresh and entertaining content under their new moniker, stating, “The refresh to ReelPlay best represents where the business is today and where it’s headed.“

Recent Slot Still a Winner

Having started off exclusively with Swedish mobile gaming company LeoVegas, one of the operator’s earliest titles, Buster Hammer Carnival, continues to enjoy enormous popularity in the regulated online iGaming space.

The Australian company has affirmed that beyond their re-branding, nothing in terms of the quality and of their digital content will change. They promise to deliver the finest online slot games to regulated casino operators across the globe. Underlining this the firm has said, “overflowing with passion, ReelPlay creates everything from the ground up, in-house.”

A Studio with Many Talents

Added to its highly entertaining slots portfolio, ReelPlay has also ‘’ developed and integrated hundreds of games on to many different platforms for both land-based and online operators’’. Moreover, it is able to create custom slot mathematics to match partner studio’s vision with multiple RTP variations.

Goal Remains the Same

When asked about the operator’s rebranding, Chief Commercial Officer for ReelPlay, David Johnson, had this to say: “The refresh to ReelPlay best represents where the business is today and where it’s headed. The goal remains the same as it ever was – ReelPlay author the best in online digital gaming content as well as incubating select competitive collaborators, providing for a powerhouse of established and independent B2B satellite software studios. ReelPlay is the mothership”.

“Our business growth will continue to be underpinned by leveraging long-term partnerships with the world’s leading operators, collaborators, and aggregators. Overflowing with passion, ReelPlay create everything from the ground up, in-house. Carefully, surely, thought out and proud to put our name to it – as craft as craft gets in a digital world. With the re-brand, we are building on solid foundations whilst adding a little nitro,” he explained further.

117,000-ways-to-win slot On Its Way!

It doesn’t stop there for ReelPlay. The company has developed a slot game that will give gamers an incredible 117,000-plus ways to win. This new game is due to be unveiled in August as an exclusive pre-release with a premier online operator before being entered into a wider market.

In 2018 the privately-owned business’s team was given a major boost with the appointment of Chief Executive Officer, Scott Smitt and CCO Johnson, who are both seasoned captains of the gaming world.

Classic 777 Pokie Gets a Modern Makeover

July 29, 2019 by Admin

A classic slot game with a HUGE new twist is coming your way!

That’s right! Say hello to a new version of the classic 777 pokie! This machine is inspired by the Vegas-style Bars and Sevens pokie but offers an array of brand new features, which includes a feature to hold up to two reels with your desired symbol, a progressive jackpot, and a wild symbol which could see your wins multiplied up to 9 times!

This pokie comes with all-round appeal and Aussies drawn to traditional pokies as well as those who enjoy their pokies with a modern, interactive flavour will both love this game.

The new 777 pokie game features:

Wild Symbol: You will see that the Cards and Coins symbol represent the wild. It also substitutes for all other symbols. If you land one Wild on the pay-line you will see an increase of the pay-table prize by x3. And that’s not all! If you’re lucky enough to see two Wilds in a winning combination you will enjoy an increase in your prize by x9!

Hold Feature: After your first spin you could hold up to two reels with the pay-table symbol(s) lined up on the pay-line. An extra bet is estimated on the basis of which symbol you are holding. It is possible to trigger as many re-spins with the held symbol(s) if you agree to the extra bet. You could see massive wins since this feature is compatible with the game’s Wild symbols!

Progressive Jackpot: You can win the progressive jackpot if you land three Wild symbols on the pay-line. Remember the Hold Feature offers you the option of holding the Wild symbols. All you have to do then is land the third Wild symbol on a re-spin to win the progressive jackpot!

Look forward to hours and hours of fun and major jackpot payouts with this classic pokie and its modern twist, which is now available at Uptown Pokies. To top it off you can also enjoy 111% Match Bonus + 77 Free Spins!

Terms:
All you need to play is a minimum $35 deposit and, on spin winnings, it holds 30x slots rollover + 10x playthrough requirements. There is no max cash-out.