Latest News
Vietnam’s first casino for locals go live
Reading Time: 1 minute
Vietnam’s first ever casino that allows local citizens to engage in gambling started functioning in Phu Quoc, the country’s largest island. Corona Resort and Casino has gone live in a historic move.
Phu Quoc Tourism Investment and Development Jsc., a company half-owned by Vietnam’s largest conglomerate, Vingroup, has built the property, which boasts of a 30,000-square-meter casino floor with more than 200 gaming tables and well over 2,000 slot machines. The company has pumped in more than $2.1 billion into the luxury hotel and casino resort.
Aside from foreigners, Corona Resorts and Casino will also admit locals to its gaming floor. While casino gambling is legal in Vietnam, residents of the country have been banned from gambling at its existing facilities for years.
Under a new, government-endorsed programme, the Phu Quoc-based casino will allow locals to enter its premises and gamble during a three-year trial period. The three-year programme aims to help Vietnamese lawmakers determine whether residents should be allowed to gamble at local casinos permanently.
Corona Resorts and Casino allows only people aged 21 or over to gamble at its gaming floor. There is also an entry fee for residents of the country. A 24-hour pass costs VND1 million (approx. $43), while a monthly pass is worth VND25 million (approx. $1,000). Locals are not allowed to gamble more than 720 hours a month.
The casino will be open 24/7 during the three-year trial period. Vietnamese passport holders will be allowed to gamble if their minimum monthly income is VND10 million (approx. $430) and have no history of criminal offenses.
Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Vietnam’s first casino for locals go live
Industry News
Bingo Paradise Sets New Standards with Exceptional Q3 2024 Results
Bingo Paradise, a leading name in the UK iGaming affiliate sector, has achieved its strongest quarterly performance in Q3 2024. This record-breaking period was fueled by a remarkable increase in first-time depositors (FTDs), highlighting the affiliate’s ability to deliver exceptional results in a competitive industry.
“Q3 2024 has been a standout quarter for Bingo Paradise,” said Tom Waite, Manager of Bingo Paradise. “Our success is thanks to the hard work of our small team of talented writers and the oversight of our dedicated compliance manager. Together, they ensure that we provide honest, transparent reviews and operate within the highest industry standards. This, combined with our marketing efforts, including SEO and negotiating exciting player offers with operators, has been key to sending substantially more FTD’s to the operators.”
Compared to Q3 2023, Bingo Paradise recorded an impressive 65.24% increase in FTDs. This achievement reflects the sites dedication to providing high-quality, player-focused content. The affiliate’s detailed reviews help users make informed choices, while its compliance manager ensures all materials meet industry standards, including the CAP Code guidelines.
A key factor driving growth has been Bingo Paradise’s ability to secure exclusive and valuable offers from UKGC-licensed operators. These offers have resonated strongly with players, ensuring high levels of engagement and trust. Working only with licensed operators reinforces the platform’s commitment to player security and fairness.
Bingo Paradise’s success also stems from its emphasis on long-term trust. Rather than focusing on short-term profits, the platform prioritises creating a sustainable, positive reputation within the iGaming sector. This approach has strengthened relationships with both players and operators, positioning Bingo Paradise as a reliable and ethical partner.
As Bingo Paradise celebrates its Q3 2024 achievements, it remains focused on maintaining its high standards and continuing to innovate in the ever-evolving iGaming market. With its proven strategies and dedication to excellence, the Meteor Marketing Ltd backed brand is poised for even greater success in the future.
Latest News
RocketPlay launches Sports Advent Calendar for December: daily surprises await
The holiday season is here, and RocketPlay is bringing an extra dose of excitement to players with its exclusive Sports Advent Calendar. From December 3 to December 25, each day will unveil a new challenge and reward, turning every moment into a festive thrill for betting enthusiasts.
Advent calendars are a beloved holiday tradition, offering surprises behind every door. RocketPlay has reimagined this concept into an action-packed betting adventure, where each “door” reveals a unique opportunity to win. From Freebets to combo boosters, no-deposit bonuses, and beyond, players can enjoy daily gifts designed to make their December unforgettable.
How does it work?
The RocketPlay Advent Calendar offers a straightforward approach: participants log in daily, check the calendar, complete the designated task, and receive a generous reward. Some examples of the challenges include:
- Placing three bets of 20 EUR or more on Hockey with odds from 1.60 to earn a 10 EUR Freebet.
- Making a combo bet with at least 3 NBA matches with odds from 1.70 for a 10% boost on the final odds.
- Creating combos with EPL matches at odds from 1.70 to unlock a 10% odds boost.
Each day introduces a new activity, providing fresh opportunities to participate and enjoy special rewards throughout the month.
Why RocketPlay?
RocketPlay isn’t just a betting platform. It’s a community of thrill-seekers and reward chasers. With a wide array of betting markets, generous promotions, and top-notch support, it is dedicated to making every player feel like a winner.
This December, RocketPlay is set to add a touch of excitement to the holiday season. Players can visit daily, unlock the Advent Calendar surprises, and turn this month into their most rewarding December yet.
The post RocketPlay launches Sports Advent Calendar for December: daily surprises await appeared first on European Gaming Industry News.
Latest News
Gaming Control Board (GCB) Statement on Allegations Regarding Curaçao’s Licensing Reforms
The Gaming Control Board (GCB) took notice of a recent complaint made regarding the National Ordinance on Games of Chance (LOK) reform process and the integrity of Curaçao’s licensing regime and wishes to state as follows.
Authority to issue licenses
In pursuance of the National Ordinance on Hazard Games (NOOGH), the Governor is authorized to grant licenses for operating hazard games on the international market via service line providers. This authority was mandated to the Minister of Finance in December 2019, who subsequently mandated this authority to the GCB in March 2020, followed by an amendment in November of 2023. Hence, the GCB has the authority to grant, amend, suspend temporarily, revoke, or deny licenses, as well as attach terms and conditions to licenses. The allegation that the GCB lacks the legal authority to grant license is therefore incorrect.
The licenses granted on the basis of the NOOGH are not provisional licenses. Any applicant whose application is approved will be issued a license.
When the new regulatory framework (LOK) is enacted and comes into force, NOOGH license holders will automatically be granted a provisional license based on the LOK. This allows them up to one year to comply fully with all LOK requirements as a transition period.
Comprehensive Licensing Process
Under the current regime, GCB has established a multi-phase license assessment process.
License applications undergo completeness checks for the required documents, due diligence on decision-makers including sanction screening, review of the business plan and initial evaluation of the websites.
At each stage, communication with the applicant is facilitated via the GCB online portal resulting in absolute transparency, and real-time checklists are available to every single applicant.
This assessment process concludes with a report, based upon which the GCB executive team decides whether to grant or deny a license. The applicant can follow this process through the portal. The application and monitoring processes are largely manual but are supported by technology. Currently, there is little to no use of AI by the GCB, although going forward it would be remiss not to incorporate emerging technologies where it adds value. This licensing process is managed by the GCB with the support of its team of advisors.
Fee Payment
Once licenses are approved, invoices are issued by the GCB and the operators pay their fees directly into an official government bank account and not via the online gaming portal. There is no scope for mismanagement. The assertion that funds may have been embezzled is therefore not correct. Once the payment has been received the license will be granted by the GCB.
Foreign Violations
Operators are responsible for ensuring compliance with the legal requirements of all jurisdictions in which they operate. Violations are addressed by competent foreign authorities. The GCB does not have the jurisdiction to oversee or intervene in alleged breaches of foreign regulations. In this context, the GCB relies on formal decisions issued by competent foreign authorities. Enforcement actions taken by the GCB depend on factors such as the severity of the violation.
Player Complaints
Player complaints handling is the responsibility of the online operators, based on their terms and conditions, which are reviewed by the GCB. Under the LOK, Alternative Dispute Resolution (ADR) will be made mandatory to ensure more independent evaluations. Complaints received from players and future reports from ADR entities will be used as inputs in the GCB’s risk-based supervision process.
Experienced Team
In the interest of effectively implementing the new policy, the GCB collaborates with global experts, including reputable consultants with extensive experience in regulated gaming jurisdictions. All these engagements are in compliance with GCB’s internal policies.
Bankruptcy Declaration: BC.Game
Due to confidentiality obligations, the GCB will not comment on specific details of this case. The issue involves a dispute between the website (BC.Game) and certain players. Bankruptcy was declared because Small House/Blockdance failed to pay players due to the dispute, leading to the court’s declaration of bankruptcy. However, this bankruptcy is administrative (based on a civil law statute in Curacao) and is not due to insolvency. A trustee has been appointed to handle the estate and ensure payments to players. The GCB is consulting with the regulated entity involved to determine appropriate regulatory measures.
The post Gaming Control Board (GCB) Statement on Allegations Regarding Curaçao’s Licensing Reforms appeared first on European Gaming Industry News.
-
Latest News3 months ago
BlueOcean Gaming Wins Best Aggregator 2024 Award at SiGMA East Europe Awards
-
Latest News3 months ago
EGT’s bestseller Bell Link with another great success: Its bells are now ringing in the Czech market
-
Latest News3 months ago
BOS/The Swedish Trade Association for Online Gambling commissions Advisense to strengthen efforts against money laundering
-
Latest News2 months ago
MIRACL partners with Continent 8 to offer its single-step passwordless MFA solution to simplify the login experience
-
Latest News3 months ago
Applications invited to become safer gambling charity for 2025 editions of ICE, iGB Affiliate and iGB L!VE
-
Latest News2 months ago
ACR Poker’s OSS XL Exceeds Guarantee With Over $46 Million In Prize Pools
-
Latest News2 months ago
Match of LeGGends: Double Down. Highlights of the show match between NAVI and Team Vitality
-
Latest News2 months ago
FBMDS and FBM Foundation host solidarity keepy-uppy initiative at G2E Las Vegas 2024
You must be logged in to post a comment Login