Philippines attractive to gaming investors and operators

New South Wales authorities affirm Crown Resorts' eligibility to maintain its Sydney casino licence, citing satisfactory remediation efforts. 

Crown Resorts has received validation from the New South Wales Independent Casino Commission (NICC) for its substantial remediation initiatives. The NICC recognized the group's comprehensive overhaul of its operations, encompassing reforms in harm minimization, financial crime prevention, governance, compliance, and risk management. 

The company disclosed an investment of approximately AU$200 million (€121 million) towards its transformation endeavours, which included the implementation of rigorous standards to combat money laundering. Crown Resorts has introduced Crown PlaySafe, a harm minimization program, and adopted cashless gaming across all electronic table games (ETGs) as part of its ongoing commitment to preventing financial crimes. 

According to its website, Crown PlaySafe Centres are open 24-hours a day in all three of its Australian Resorts and provide a range of services for all guests that are designed to keep gambling fun and minimise gambling harms. It added that the centres are staffed by a dedicated and professional team within each Resort. 

Crown Resorts aims to collaborate closely with the NICC to fulfil the outlined requirements of its review. Mark McWhinnie, CEO of , expressed appreciation for the NICC's decision, emphasizing the genuine and sustainable changes implemented by the company to uphold the highest industry standards. 

Meanwhile, Ciarán Carruthers, CEO of Crown Resorts, highlighted the profound transformation undertaken by the company over the past two years, emphasizing a paradigm shift in corporate culture and operations. He asserted that the revitalized Crown Resorts has emerged as a beacon of integrity and excellence in the Australian corporate landscape. 

While affirming Crown Resorts' suitability for a gaming licence in Melbourne, authorities in Victoria are conducting an ongoing investigation into Crown Perth. Despite this scrutiny, the group's successful retention of its Sydney casino licence reflects its unwavering commitment to compliance and reform across its portfolio of properties. 

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The Puerto Rican Senate has given its stamp of approval to a new set of regulations concerning This move comes after the Gaming Commission presented the proposed regulations on 1 March.

This week, the Senate approved the new Regulation for the Issuance, Management, and Control of Licenses for Slot Route Gaming Machines. This action aligns with the commitment expressed by the President of the Senate, José Luis Dalmau Santiago, as reported by local media outlet El Sol de Puerto Rico.

Senate Concurrent Resolution 58 clarifies that the proposed regulation must undergo evaluation by the Legislative Assembly. This is to ensure its complete and faithful compliance with the statute before its approval, which should occur within 45 days from the notification.

Dalmau Santiago, (pictured above), referring to Concurrent Resolution 57, explained why the previous regulation was rejected. He said, “Since I spoke with you in the last session and expressed why the past regulation was being rejected, we addressed the concerns and that is why we filed this amended regulation.”

He also refuted claims that the Senate was not giving way to the regulation. He clarified, “The Gaming Commission is working on a draft, and when they file it, I will attend to it. The conversations are so advanced that this morning, the gaming commissioner told me that maybe they will file it today.” This statement was made before the new regulation was received on Wednesday.

The proposed regulation outlines the nd rights that all interested parties must adhere to when requesting or renewing their licenses for route gaming machines. It also applies to those interested in obtaining or renewing the Licenses for Wholesaler Owners, Business Owners, Manufacturers, Distributors, and Suppliers of Goods and Services of Slot Route Gaming Machines, as reported by local media Microjuris.

Furthermore, the regulation stipulates the operational and oversight procedures that the Gaming Commission, or the corresponding Bureau if created, must follow when awarding such Licenses.

The primary objective of these Regulations is to regulate the management of these licenses and to establish the penalties that may be imposed on any person who fails to comply with the provisions of the Law and the Regulations. This marks a significant step towards regulating the gaming industry in Puerto Rico.

South Africa’s primary opposition party, the Democratic Alliance (DA), has taken a significant step towards regulating online gaming. After over two years of meticulous drafting and expert consultations, the DA has formally introduced the Remote Gambling Bill of 2024 to Parliament. The bill is championed by MP Dean Macpherson, the DA’s Shadow Minister of Trade, Industry, and Competition.

The DA’s initiative is a response to the African National Congress (ANC)’s significant oversight in failing to provide adequate protection and regulation within the online gambling industry. The ANC, South Africa’s ruling party, has left a legal gap in the industry, as the National Gambling Amendment Act, assented to by the President in 2008 to regulate online gambling, has not yet been implemented.

The given the substantial growth and advances in online usage since then. The absence of regulation notof law and criminal activity but also leaves the public unprotected compared to land-based gaming operations. Furthermore, it results in the loss of billions of Rands in revenue and jobs to other gambling jurisdictions.

The Remote Gambling Bill aims to regulate the issuance of licenses, which will be controlled by the relevant provincial authorities instead of the centralized national gambling board. The DA argues that the national gambling board is now merely “a shadow of itself.” The bill will establish procedures to raise objections to licenses, regulate the advertising of interactive and online gambling entities, provide protection for minors and vulnerable persons, and ensure compliance with the Financial Intelligence Centre Act (FICA).

With the upcoming national and provincial elections on 29 May, the ANC is projected to fall significantly below the 50 percent majority mark. This means that in the new Parliament, the ANC will no longer have the majority to reject legislation on frivolous grounds simply because it originates from an opposition party. Bills like the Remote Gambling Bill are crucial to protect the most vulnerable people. With the ANC below 50 percent, the DA can ensure that this will be the first of many bills introduced to rescue South Africa. This development marks a new era in the regulation of online gambling in South Africa.

Suntrust Resort Holdings, a gaming operator in the Philippines, has finalized a loan agreement with LET Group Holdings, securing $38 million (€36.6 million) to finance the ongoing development of the . LET Group Holdings, formerly known as Suncity Group, serves as the controlling shareholder of Suntrust Resort Holdings. 

As of December 31, 2023, significant progress has been made in the Westside City Project construction. The structural work and tower facade up to the roof level have been completed, except the facade at the middle portion of the skybridge. 

Under the terms of the loan agreement, LET Group has agreed to extend the $38 million (€36.6 million) loan to , with a repayment period of 10 years from the execution date. However, the repayment period may be extended by mutual agreement or shortened in the event of default. Suntrust anticipates that the loan will not negatively impact its business, operations, or financial condition, as it is expected to enhance the company's prospects. 

The Main Hotel Casino of the Westside City Project is set to offer 475 luxurious hotel rooms and suites, along with a spacious ballroom capable of accommodating up to 550 people. Additionally, the establishment will feature a range of support facilities, including meeting rooms and a bridal room.

In its latest filing to the Philippine Stock Exchange (PSE), Suntrust indicated a delay of at least three months from the initially expected start of the Westside City operations in the fourth quarter of 2024 to the first quarter of 2025. 

Upon opening, the casino will boast 281 gaming tables, 1,126 slot machines, and 134 electronic table games (ETGs), catering to both mass-market and VIP clientele. The property will also include state-of-the-art entertainment facilities, such as two theatres seating 1,000 and 800 guests, a grand opera house, and a performing arts theatre seating 3,000. Moreover, a mall comprising food and beverage outlets, retail units, and four cinemas will complement the entertainment offerings. The project will also provide ample parking space, with over 1,000 slots available. 

By securing this loan, Suntrust Resort Holdings is poised to further advance the development of the Westside City Project, contributing to the growth of Manila's Entertainment City and the broader tourism sector in the Philippines.