Genting Singapore highlights non-gaming amid potential decline in Chinese gamblers

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.

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.

The Nevada Gaming Commission (NGC) has approved changes that are poised to significantly impact the Nevada gaming industry. These changes aim to streamline and modernize the regulatory process, enhancing regulatory efficiency. For example, the NGC has empowered the Chair of the to grant administrative approval to the spouse, next of kin, personal representative, guardian, or heir of a licensee. This is expected to save estates both time and money, leaving more resources available to creditors and heirs. In addition, the NGC has introduced new cybersecurity regulations.

These require gaming operators to secure their information systems against cyberattacks. Operators are required to perform an initial risk assessment of their systems by the end of 2023 and take any necessary and ongoing steps to prevent attacks. In the event of a successful breach compromising player or employee data, credit card information, and/or other records, properties will be required to report it to gaming regulators within 72 hours. The definition of a “gaming employee” has also been revised to include more general categories. This allows for more flexibility as titles and job duties evolve, providing more clarity and adaptability in the rapidly evolving gaming industry. Furthermore, amendments to NGC Regulation 8 have consolidated the transfer of interest process. This allows for administrative approval of certain transfers and recognizes digital certificates for transactions, simplifying and expediting the transfer of interest process.

These changes are part of the government’s broader efforts to ensure that the regulation of land-based gambling is fit for the modern age and is proportionate to the risk associated with the gambling products on offer. However, while these changes aim to revitalize the sector, they also underscore the importance of having safeguards in place to protect consumers. (NGC) convened on May 16, 2024, at their Las Vegas office, with Chair Hon. Jennifer Togliatti (photo above), and members Rosa Solis-Rainey, Hon. Brian Krolicki, George M. Markantonis, and Justice Abbi Silver in attendance. The meeting’s disposition is pending approval, subject to potential revisions at the next NGC meeting. Meeting Highlights: Public Comments: The session began with public comments, including discussions on Regulation 5 changes and input from the Culinary and Bartenders Unions regarding Station Casinos. Approval of Previous Disposition: The Commission approved the disposition from April 2024. Nonrestricted Items: A series of nonrestricted agenda items were reviewed, with actions taken as outlined in the meeting materials. Restricted Items: Similarly, restricted agenda items were considered, with corresponding actions taken. Employee Registration Appeal: An appeal by Alicia Conrad (Case No. 2010-7643L) was addressed, resulting in a sustained objection.

The NGC adopted several regulations, including amendments to NGC Regulation 10.041, hosting centre provisions, and gross revenue computations for slot machines. Transfer of Interest Process: Amendments to NGC Regulation 8 consolidated the transfer of interest process, allowing for administrative approval of certain transfers and recognizing digital certificates for transactions. The meeting also included administrative reports and updates from Board Chair Hendrick, who welcomed Commissioner Silver and provided a workshop update. The NGC continues to adapt and refine its regulatory framework to ensure the integrity and growth of Nevada’s gaming industry.

The Star Entertainment Group, Australia’s second-largest casino operator, has been the subject of recent takeover speculation. Despite rumours of a bid from US-based Hard Rock, has been received from them. However, the company has acknowledged interest from several other parties, including a consortium of investors that counts Hard Rock Hotels & Resorts (Pacific) among its members.

In a statement released on Monday, The Star confirmed that while there has been inbound interest regarding potential transactions, none of these approaches have led to any substantial discussions. The company described the interest as confidential, unsolicited, preliminary, and non-binding.

Currently, The Star is navigating through remediation activities in both New South Wales and Queensland. This includes its involvement in the Bell Two Inquiry, which is assessing its suitability to retain a Sydney casino license. Amidst this, the company announced on 17 May that its gaming licenses for The Star Gold Coast and Treasury Brisbane casinos have been extended from 31 May 31st to December 20th. This extension allows the Queensland Government to evaluate the outcomes of the Second Bell Inquiry into The Star in New South Wales and assess The Star’s remediation progress before making further decisions.

This extension surpasses the term of the Special Manager, appointed to supervise the Queensland properties, which concludes on 8 December. The final report for the Bell Two Inquiry is anticipated on 31 July.

There has been widespread speculation about to retain its licences in both states, particularly in New South Wales due to the Second Bell Inquiry. This has led to questions about whether rival Crown Resorts would be interested in a possible takeover of the group’s gaming license, if permitted by authorities.

In a previous conversation with AGB, Crown Resorts CEO Ciarán Carruthers did not confirm whether Crown now holds a competitive edge over The Star in New South Wales, as suggested by some analysts. Carruthers highlighted that the group’s successful remediation efforts, demonstrated by its suitability to maintain its casino license in both Melbourne and Sydney, have helped rebuild trust within the local community and have strengthened its authority in community engagement.

The possibility of a takeover of The Star has caused the company’s shares to surge by approximately 20 percent in today’s trading.