Category: Free Pokies

The Philippines is pushing ahead with plans to tighten anti-money laundering (AML) controls in its casino sector.

The country’s casinos, that are lightly regulated by state-run operator-regulator PAGCOR, are exempt from the guidelines of its Anti-Money Laundering Act of 2001.

But the cyber heist in the Federal Reserve Bank of February year that is last drew the relaxed nature associated with the Philippine system to the globe’s attention and severely embarrassed the country, leading to urgent calls for modification not just from lawmakers inside the Philippines but in addition from the planet Bank.

On February 5th, hackers flooded the Fed Bank with demands for transfers totaling very nearly $1 billion from an account owned by the Bangladesh Bank and used by the government of Bangladesh.

Around $101 million ended up being successfully withdrawn before suspicions were raised. Some $20 million of this sum was quickly traced to Sri Lanka and recovered. The remainder was transferred to Philippine bank RCBC and, from there, $46 million found its method, via a remittance company, to the Philippine casino industry.

Time for Change

Representative Ben Evardone, chairman of the committee on ban Continue reading “Philippines to Plug Money Laundering Holes in Casino Sector”

Global casino operators are bending over backwards to get a piece of the future Japanese casino industry, but they may have to wait just a little bit longer.

The Japanese Diet passed its Integrated Resorts Promotion Bill in December, after years of mulling the issue, paving the way for the opening up of a market with the potential to become the second biggest in the world, after Macau. But Japan has not regulated casino gaming, not yet, at least.

The Integrated Resorts free pokies games for fun Bill was an enabler, giving the Diet a 12-month deadline to prepare a framework of regulation, which will lay down licensing requirements and measures to protect problem gamblers from using casinos.

No Movement in Spring

With the Diet’s ordinary session getting underway nice and early, on January 20, it was hoped that process would begin soon, but not so fast, says Union Gaming Analyst Grant Govertsen. There is unlikely to be any movement on regulation during the spring session, he said in a note this week.

‘Rather, we think the Diet has already made the decision to handle the IR bill during the fall special session, suggesting that it is more likely going to be an October or November event,’ Govertsen said.

Prime Minister Shinzo Abe’s ruling Liberal Dem Continue reading “Casino Developers Will Have to be Patient on Japanese Regulation, Says Analyst”