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Crown casino troubles result in Melco not buying James Packer’s shares

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Lawrence Ho and his Melco Resorts have decided to keep their plans to purchase shares of the Crown casino on hold, while the scandal and the investigation on the illegal activities of the casino remain under question. The Hong Kong casino magnate was supposed to purchase James Packer’s shares of the crown casino in order to start expanding their portfolio into a more international one. But, with the ongoing investigation, they have decided to put the plans on hold until further notice.

The Hong Kong side has also said that the trade could be altogether canceled if the investigation results in the decision that the trade deal between the two sides would be unacceptable.

The announcement was made on Wednesday and has been one of the many results of the investigation spearheaded by a number of media companies within Australia. The investigation uncovered that Crown casino was involved with junket companies that are backed by Asian crime gangs and Chinese foreign influence agents. This has caused the launch of an investigation by the NSW Independent Liquor and Gaming Authority and is releasing terms of reference. While the investigation into Crown casino and its operations continue, there is seemingly no negative effect on the industry in general. The demand for Australian casino games is growing, and the industry remains as healthy as always, despite the investigation. But there are certain deals and aspects outside of Australia that the investigation will be concerning.

Within the context of this illegal operation, the sale of the stakes has come under investigation as well. Within the context of the investigation, the father of Melco’s owner, Stanley Ho is under suspicion of having ties to Asian gangs and that the sale might be related to the illegal junket operations. Melco had agreed to the purchase of a stake that is worth around $1.7 billion, with the first 10 percent transfer happening before September 30th.

The current effects of the fallout

The Melco Resorts company has released a statement on the Nasdaq exchange. In the statement the company said that it had agreed with Consolidated Press Holdings to extend the possibility of the deal going through by another 60 days. A representative from CHP announced that they did not consider there was much a breach of an agreement or any law broken. According to them, all of the steps that they had agreed on with Melco had already been taking. But the agreement also has clauses that would result in the deal not going through at all.

Melco did not specify what they would be doing with the 10 percent that they had already purchased from Crown, but the situation might be complicated for them already.

When Crown was granted the license to create their $2 billion casinos by 2021 in Sydney, the casino was given a list of individuals and casinos that it would not be allowed to work with. Stanley Ho, the owner of Melco, was one of the individuals that were part of the original list. The list was made public recently and includes a casino that Stanley Ho owns, and Crown casino has dealt with extensively.

One more company that Crown was not allowed to interact with, the Great Respect Limited, is a 20 percent owner of Melco International. That is the company the Mr. Ho is the chair of, and which has a controlling stake in Melco Resorts, which is the one purchasing stake in Crown. This has put the entire company in a very precarious situation.

The current inquiry is thus important in determining the extent to which the company has managed to breach the terms of the agreement, beyond simply breaking the law. There is no specific time frame for the investigation.

Melco and Crown have been partners in the past, but the partnership was canceled after 19 individuals of the Crown staff were arrested on gambling-related charges.

The two companies were planning to increase their partnership further, but for now, the deal is on hold. It seems that James Packer is to remain the largest shareholder of the casino for now.


Source: Latest News on European Gaming Media Network
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Crown casino troubles result in Melco not buying James Packer’s shares

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Pirate Multi Coins – Feature-rich New Title from Fantasma Games

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Slots players are taken on a swashbuckling adventure as they seek to unlock the Golden Chest in latest release from Fantasma Games

Pirate Multi Coins, a 6 reel, 5 position slot, is the latest title to hit the market from the Stockholm-based developer, Fantasma Games.

Golden Multi Coins are the key to unlocking big wins and features, with a random number of Coins appearing on each spin. Coins can hold either a monetary or multiplier value, and landing five on a spin awards all values shown.

In a break from standard slots, Pirate Multi Coins features no set paylines, with wins achieved when eight or more matching pay-symbols appear anywhere on the thirty-position matrix. Each win combines those symbols into another Coin, helping trigger the Multi Coin feature. The remaining spaces are filled by an Avalanche, which is Fantasma’s proprietary take on cascading reels.

Another air of suspense comes in the form of the Golden Chest at the top of the playing area. Any Coins landed during a spin which does not trigger the Multi Coin feature are added to the Golden Chest. The Golden Chest can trigger during any base-game spin where a coin is added to the chest, which rains more coins down upon the reels, guaranteeing a Multi Coin feature.

Finally, there is also a Free Spins feature, where landing four or more Scatter symbols awards fifteen free spins. Retriggers are also available during the feature, with three Scatters awarding five more free spins, and four Scatters awarding an additional fifteen spins!

Pirate Multi Coins comes with RTP options of 86%, 94.35% and 96.08%, sits at the medium range of the volatility scale and has a max win potential of 4999.x. It features a Scatter Boost option as well as a Bonus Buy for jurisdictions where this is applicable.

Fredrik Johansson, Founder and CEO of Fantasma Games, said: “In our first venture into the quintessential Pirate slot theme, Pirate Multi Coins brings a host of great features to all types of players.

“With multiple ways to trigger our various features as well as a medium level of volatility, we hope that it really appeals to every type of slots’ fan looking to find some buried treasure.

“Pirate Multi Coins takes to the high seas in thirty-four languages across our network of amazing operator partners on April 30th.”

 

 

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BetMGM is launched in the Netherlands, bringing an authentic Vegas experience to the Dutch market

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The golden Vegas offerings and entertainment of BetMGM is coming to the Netherlands, following a successful launch in the UK. BetMGM will offer a best-in-class Las Vegas experience to deliver a new golden era of online casino and sports betting in the Netherlands. Leveraging LeoVegas Group’s proprietary technology and platform, the launch marks a significant step in the brand’s international expansion.

BetMGM, the entertainment and sports brand known for its golden offerings and authentic Vegas experience, is launching in the Netherlands. The new brand is set to provide customers with exciting new product features, including large-scale jackpots, loyalty rewards, exclusive slots, as well as unique and compelling sports promotions. Utilising LeoVegas Group’s proprietary technology and platform, this expansion into the Dutch market represents the second European launch, succeeding a well-received rollout in the United Kingdom.

Gary Fritz, President of MGM Resorts International Interactive, said “We are thrilled to launch BetMGM in the Netherlands and build on BetMGM’s successful expansion into global markets. The Dutch market offers an exciting opportunity and will be an important part of our international expansion efforts and strategy to become a global gaming leader.”

Gustaf Hagman, Group CEO at LeoVegas Group, said “Our launch in the UK was tremendously successful, and we eagerly anticipate bringing the golden Vegas experience to the Netherlands. This launch in the Dutch market is an important step in our international expansion, but we have much more in store.

 

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New focus for safer gambling as Clarion confirms launch of Sustainable Gambling Zone

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The Consumer Protection Zone (CPZ), which since its launch at ICE 2018 has developed to become the highest profile feature on the ICE show floor has been re-branded to become the Sustainable Gambling Zone (SGZ). 

The strategic decision has been taken following extensive stakeholder consultation and is set against the heightened importance placed on proactive customer interventions at earlier stages of the player journey.

The SGZ will be debuted at July’s iGB L!VE prior to its official launch at ICE 2025, the first edition of the industry’s most influential b2b gaming show to be held at its new home in Barcelona

Clarion Gaming’s Director of Industry Insight and Engagement, Ewa Bakun, who has seen the CPZ develop to become the key platform for the industry to advance its understanding and implementation of safer gambling measures and raise standards said: “I must stress that this is much more than just a cosmetic exercise. Instead, the Sustainable Gambling Zone, with its refreshed focus, will engage with the broader stakeholder group of operators who are focused on long-term sustainability, something which goes way beyond simply meeting the regulatory mandate.

“The overarching objective of the Sustainable Gambling Zone is to be at the vanguard of initiatives to help develop healthy play from the outset which includes the incorporation of safer gambling considerations from the very start rather than as a compliance requirement.

“While not yet standard across the whole of the industry, this more holistic approach underpins the safer gambling dynamic. Its goal is to create a more sustainable business in which players continue to enjoy their gambling entertainment experience with the small proportion who are at risk of developing problems pro-actively identified and assisted by operators.”

Clarion Gaming Managing Director, Stuart Hunter added: “The relocation to Barcelona will enable us to expand the ICE and iGB Affiliate offerings but also raise the bar in terms of what we already deliver on behalf of the international industry.

“The intended broader appeal of the Sustainable Gambling Zone dovetails with our relocation and will bring the SGZ closer geographically to continental Europe and closer culturally to the Latin American markets that we serve.

“Barcelona will open a new chapter for ICE/iGB Affiliate and their respective features, not least the Sustainable Gambling Zone.”

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