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Legal
February 21, 2022
Fraudsters Use Metaverse Scams, Authorities in China Warn
Last week, the Banking and Insurance Regulatory Commission in China released a reminder urging the public to beware of illegal fundraising in the name of the metaverse. China Warns of Illegal Metaverse Fundraising Dangers Metaverse is a 3D virtual reality space that users can access via virtual reality (VR) goggles to connect, play, learn and […]
Industry
February 21, 2022
Company Tied to Investor William E. Ford Accused of Torture, Illegal Gambling
Chinese web-based classified ad platform 58.com is under investigation. A Chinese national, responding to an ad on the site, was ultimately kidnapped and tortured for over six weeks after refusing to do a different job than what had been posted. He ended up in Sihanoukville, Cambodia and, instead of working as a bouncer at a […]
Business
February 21, 2022
Genting Singapore Advances Planned Resorts World Sentosa Upgrades
Resorts World Sentosa (RWS) is getting a facelift. Genting Singapore Ltd, its owner, is going to invest almost $298 million in updating a portion of its attractions and revamping three existing hotels. Work will begin next quarter and could continue into 2024. Resorts World Sentosa Growing These improvements are essential for a $3.3-billion spending plan […]
Casino
February 18, 2022
Omicron Surge Unlikely to Dissuade Gambling In Malaysia
According to a note issued by Malaysia’s Maybank Investment Bank Research, the sudden rise in the number of COVID-19 cases caused by the Omicron variant is not likely to trigger a drop in the number of gamblers or result in additional lockdown scenarios. Low Risk of Health Complications Brings Optimism to Gamblers According to analyst […]
Business
February 18, 2022
Sands China Unlikely to Pay Dividends Until 2024, Asserts Analyst
In February 2020, Sands China shareholders were given $0.127 per share they held in the form of a dividend. For that, the Las Vegas Sands-led company shelled out $1.03 billion. That was the last time dividends were paid and, according to Sanford C. Bernstein’s lead analyst for Asia, shareholders shouldn’t expect another one anytime soon. […]
Industry
February 17, 2022
Cambodia Shuts Another 15 Illegal Gambling Websites
Cambodia continues to double down on its efforts of keeping the online gambling industry clean. To this end, the country’s telecommunications regulator has been able to suspend access to 15 illegal online lottery websites. Cambodia stopped issuing new online gambling licenses on January 1, 2020, making it clear that interactive gambling would have no place […]
Industry
February 17, 2022
China Promises to Continue Crackdown on Chinese Gamblers
China continues to believe that oppression is the best form of government expression. According to China’s Ministry of Public Security, the authorities in China had achieved success in halting cross-border gambling activities in 2021 and will continue this policy this year. The country will do this by continuing its practice of blacklisting overseas institutions or […]
Legal
February 17, 2022
Hong Kong Influencer Faces Seven Years in Jail Over Illegal Gambling Promotion
The South China Morning Post reported that Hong Kong police have conducted an arrest of a 26-year-old social media influencer who is allegedly tied to illegal gambling. Authorities carried a raid and apprehended So Mei-yan, also known by other monikers as Cry So or So Miu-Miu. The arrest occurred earlier this week on Monday and […]
Casino
February 16, 2022
LVS and AAEC’s 20-Year-Old Dispute Might End in the Coming Weeks
Macau’s Court of First Instance has picked Las Vegas Sands (LVS) over Asian American Entertainment Corp (AAEC) in a massive $7.5 billion lawsuit that dates back 20 years and which was filed over an alleged contract breach. LVS claims that the contract between the two companies ended on January 15, 2002, and it concerns a […]
Business
February 16, 2022
Genting HK Continues to Seek Ways to Recover from Financial Disaster
Genting Hong Kong’s liquidators are investigating the possibility of potential buyers for many of the company’s assets. Although there was some discussion about re-financing assets in Asia, it seems that assets in Germany, including the huge Global Dream cruise ship, and those of Crystal Cruises, based in the US, may be sold to multiple buyers. […]