Bet365 agrees to regulatory settlement with UK Gambling Commission

The Dutch Online Gambling Association (NOGA) has expressed serious concerns over the proposed increase in gambling tax from 30.5 percent to 37.8 percent by a potential new coalition government in the Netherlands. This coalition comprises the Party for Freedom (PVV), the Party for Freedom and Democracy (VVD), the New Social Contract party (NSC), and the Farmer-Citizen Movement (BBB).

The proposed tax increase, part of the “budgetary appendix of coalition agreements,” is expected to bring an additional €202 million annually to the state treasury. However, NOGA fears that this financial gain might be overshadowed by significant social damage.

Peter-Paul de Goeij, the general director of NOGA, warns that the tax hike could endanger the viability of the He notes that channelization to licensed operators is already levelling off, and the increased tax could push Dutch consumers towards illegal providers who do not pay taxes.

The Dutch Advisory Board on Regulatory Burden (ATR), an independent watchdog, has questioned the need for proposed new regulations for online gambling. They argue that these new requirements could represent an unnecessary technical burden for operators.

In April, a narrow majority of MPs in the Dutch House of Representatives voted in favour of motions to ban online slots and prohibit online gambling advertising. Other motions call for mandatory financial risk checks and. These votes do not guarantee the adoption of these measures, as Franc Weerwind, the minister for legal protection, will review the proposals and decide whether they should be approved

The proposed tax increase and regulatory changes mark a critical juncture for the Dutch gambling industry. While the tax hike could potentially fill state coffers, the social implications and impact on the legal gambling market cannot be ignored. As the Dutch gambling landscape continues to evolve, all eyes will be on the new coalition government’s next moves and their long-term effects on both operators and consumers.

A Malaysian court has imposed a gag order on Badrul Hisham Shaharin, a prominent Malaysian politician and activist, pertaining to his remarks concerning a Bloomberg report hinting at potential casino plans within Forest City, located in Johor Bahru. 

According to local media reports, this decision follows the overturning of a prior rejection by the Johor Bahru High Court, thereby intensifying legal constraints on Badrul’s ability to publicly discuss the sedition case initiated against him due to his statements concerning the Forest City project. 

Badrul, popularly known as Chugubard, was formally charged in April after his social media commentary on the Bloomberg report. Facing allegations of criminal defamation and sedition, he maintained his innocence during court appearances on April 29 and April 30, where he entered a plea of not guilty. His arrest on the preceding day underscored the gravity of the charges levied against him. 

At the crux of this legal saga lies the contentious issue of plans to introduce a casino within the Forest City development, with estimates valuing the project at $100 billion. Despite assertions by Malaysian Prime Minister and key figures from the Berjaya and Genting Group of discussions regarding a casino license for Forest City, speculations persist, fuelling the ongoing legal battle. 

currently maintains a monopoly on casino gaming within Malaysia. While the government has reaffirmed its commitment to preserving this monopoly, the Forest City casino rumours have ignited concerns about potential disruptions to the existing gaming landscape, prompting swift legal action against dissenting voices like Badrul Hisham Shaharin. 

As legal proceedings unfold, the Forest City casino saga continues to captivate public attention, underscoring the intersection of politics, activism, and economic interests in contemporary Malaysian society. 

CryptoGames has recently integrated Polygon (MATIC) into its platform. This strategic move is designed to significantly enhance the user experience by leveraging Polygon’s advanced blockchain technology, which offers faster transactions and reduced costs.

Polygon, formerly known as Matic Network, was established in 2017 by developers Jaynti Kanani, Sandeep Nailwal, and Anurag Arjun. It quickly gained recognition as a leading Layer 2 scaling solution for Ethereum. It addresses critical issues such as high transaction fees and network congestion by processing transactions on its sidechains. This process effectively bundles multiple transactions into a single submission to the Ethereum mainchain, reducing costs and enhancing transaction speeds.

Polygon’s modular Software Development Kit (SDK) enables developers to create and connect decentralized applications (dApps) on custom sidechains. It supports various scaling solutions like Plasma Chains, zk-Rollups, and Optimistic Rollups. Polygon’s Proof of Stake (PoS) chain allows participants to stake MATIC tokens to validate transactions, engage in network governance, and earn rewards.

Despite facing a security vulnerability in 2021, Polygon demonstrated resilience by raising $450 million in February 2022 from prominent investors like Sequoia Capital India, Tiger Global, and Softbank Vision Fund. This funding aims to bolster its infrastructure and expand its services.

The integration of Polygon (MATIC) into CryptoGames is driven by its exceptional ability to handle high transaction volumes with minimal fees. This is crucial for an online casino that prioritizes fast and cost-effective transactions. This integration ensures that players benefit from quicker and cheaper transactions, significantly enhancing their overall gaming experience.

Polygon’s widespread popularity and robust security measures make it an ideal choice for CryptoGames. By supporting a well-known cryptocurrency, CryptoGames facilitates an easier transition for users. This forward-thinking approach positions CryptoGames at the forefront of the industry, ready to leverage future advancements in blockchain technology.

The inclusion of Polygon (MATIC) brings numerous benefits to CryptoGames. Users can enjoy faster and more cost-effective transactions, which enhances the efficiency and enjoyment of their gaming experience. With Polygon (MATIC) as a supported currency, CryptoGames offers increased accessibility, providing more options for betting and transacting on the platform.

Moreover, Polygon’s advanced security ensures that users can place their bets with confidence, knowing that their funds are protected. This robust security framework is essential for maintaining trust and satisfaction among CryptoGames’ user base. By integrating Polygon, CryptoGames continues to stay ahead of its competitors, offering cutting-edge solutions that appeal to a broad audience of cryptocurrency enthusiasts.

CryptoGames, established in 2020, is a leading online cryptocurrency-based casino licensed and regulated by the Government of Curacao. The platform offers a diverse range of games, including Dice, DiceV2, Roulette, Blackjack, Lottery, Video Poker, Plinko, Minesweeper, and Keno. Supporting multiple cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Dogecoin, Monero, Bitcoin Cash, Ethereum Classic, Dash, Solana, Binance Coin, NeoGas, and now Polygon (MATIC), CryptoGames ensures a seamless and engaging gaming experience for both new and seasoned players.

CryptoGames prides itself on transparency and fairness through provably fair mechanisms, guaranteeing random and unmanipulated outcomes. The casino features a competitive house edge and offers various bonuses and rewards, including faucet bonuses, random vouchers, daily and weekly challenges, and a monthly wagering contest with substantial rewards. The VIP membership program provides exclusive benefits such as a lower house edge, increased exchange limits, and access to a VIP chat room, further enhancing the user experience. By integrating Polygon (MATIC), CryptoGames reaffirms its commitment to providing an advanced, secure, and user-friendly platform for cryptocurrency gaming.

Hong Kong-based Legend Development Ltd, a prominent player in the casino industry, recently announced the successful sale of its casino resort in Laos, Savan Legend Resorts. This strategic move, which took place on 16 May, 2024, marks the end of Macau Legend’s interest in the resort.

The sale process of Savan Legend Resorts, located in Savannakhet, Laos, had been delayed several times since its announcement in February. However, the deal finally received the green light from the Laotian government, allowing the transaction to proceed.

The initial announcement of the sale was made in June 2023, where a letter of intent was mentioned with a potential buyer for a total consideration of US$45.0 million. The buyer, Shundo Yoshinari, a Japanese citizen residing in Japan, was identified as an independent third party.

In a subsequent filing in December, Macau Legend revealed that the entire equity interest in Savan Legend was to be sold for an “initial consideration” of US$39 million, as agreed with Mr. Yoshinari. The company anticipated a pre-tax gain on the disposal of approximately HKD47 million (US$6.0 million).

This sale is part of a broader strategic shift for Macau Legend, as it may soon divest its other business assets outside of Macau. Recent reports suggest that the government of Cape Verde, an island nation in West Africa, is in discussions with the company to revert its concession to develop and operate a casino resort in the country.

Despite these international divestments, Macau Legend continues to maintain a strong presence in Macau with its tourism complex, Macau Fisherman’s Wharf. This waterfront area near the Outer Harbour Ferry Terminal on the Macau peninsula features a casino, Legend Palace, which is promoted under a services agreement with Macau licensee SJM Holdings Ltd.

However, the company’s financial performance in 2023 reflected a net loss of HKD4.9 million, as reported in its annual results filed on 28 March. The sale of Savan Legend Resorts is seen as a strategic move to improve the company’s financial health and focus on its core operations.