Connect with us

Latest News

AUSTRAC CEO Says Casinos Must Oversee Junket Compliance

Published

on

AUSTRAC CEO Says Casinos Must Oversee Junket Compliance
AUSTRAC CEO Says Casinos Must Oversee Junket ComplianceReading Time: 2 minutes

 

Nicole Rose, CEO of Australia’s financial crimes watchdog AUSTRAC, has stated that it is the responsibility of casino operators rather than regulators to oversee the operations of junket operators operating within their gaming facilities.

According to a report by News Corp, Nicole Rose made the claim during a Senate estimates hearing at which she was quizzed by senators over issues around junket compliance in the wake of the recent NSW Independent Liquor and Gaming Authority (ILGA) inquiry into Crown Resorts.

“AUSTRAC does not regulate junket tour operators,” said Rose. “The onus is on industry to ensure it complies with its AML/CTF obligations. The Federal Court has also reiterated this view.”

Pressed on apparent gaps in the regulation of junkets in Australia, Rose said that “domestic regulation won’t address the issues” and that “the industry was well placed to manage and assess its own risks.”

Rose’s comments come after AUSTRAC announced in October the launch of a formal enforcement investigation into potential infringements by Crown of the country’s anti-money laundering laws and relating to “Crown Melbourne’s management of customers identified as high risk and politically exposed persons.”

The ILGA inquiry, which will determine Crown’s suitability to hold an NSW casino license for its AU$2.2 billion Crown Sydney development, has raised questions over the company’s due diligence processes in relation to its international VIP operations.

“From the casino’s perspective, all the front money comes from the junket tour operator and all the winnings go to the junket tour operator,” the report said.

“This means that all reporting on these transactions occurs only under the junket tour operator’s name and not the financial activity of the individual participants. This is a significant vulnerability for junket operations.

“While there was a theoretical acceptance that junkets may be exploited, it was AUSTRAC’s view that this possibility was not taken seriously.”


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: AUSTRAC CEO Says Casinos Must Oversee Junket Compliance

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.

Latest News

EGT is among the main contenders for the prize in several categories at the BEGE Awards 2025

Published

on

Reading Time: 2 minutes

EGT is thrilled to announce that this year it is among the finalists in 4 categories of the prestigious BEGE Awards competition, which is held annually in Sofia, Bulgaria, as part of BEGE Expo.

The company’s CEO Vladimir Dokov has been shortlisted again in the Visionary of the Year category, after being given this prize in the previous two editions of the event. He earned the nomination thanks to his strategic vision, which has positioned the company as one of the top manufacturers and suppliers of gaming equipment globally with a presence in more than 100 markets.

EGT’s slot cabinet G 50 C ST will compete for the award in the Slot Machine of the Year category. It is one of the most successful models from the General Series, which has had numerous highly successful installations in various markets around the world over the past year.

Bell Link is among the nominees for the Jackpot System of the Year accolade. With 4 exciting levels, numerous attractive bonus functionalities, and the captivating Bell Link 1 and Bell Link 2 multigames, containing some of the company’s most popular titles, this product has established itself as an absolute bestseller in EGT’s portfolio. Bell Link cemented its position as players’ favorite even further, after its first large-scale WAP installations were carried out with enormous success.

EGT’s Spider CMS will be а contender for the prize in the Casino Management System of the Year category. Continuously developing and improving, the system currently includes 15 modules that help casino managers easily and effectively to organize the daily activities in gaming venues across a number of markets around the world.

The BEGE Awards 2025 ceremony will take place on November 26 and will once again honor companies and individuals for their outstanding contribution to the gaming and entertainment industry during the past 12 months.

The post EGT is among the main contenders for the prize in several categories at the BEGE Awards 2025 appeared first on European Gaming Industry News.

Continue Reading

Latest News

PG Soft welcomes players into Alibaba’s Cave of Fortune

Published

on

Reading Time: 2 minutes

PG Soft, a world-class digital mobile games company, is inviting players into Alibaba’s Cave of Fortune in the hope of discovering magical treasures.

Alibaba’s Cave of Fortune is a 5-reel, 3-row classic slot game that shines with a superb Bonus Feature and Coin symbols that can be collected by Collector symbols. Set within the fabled cave that radiates with golden promise, this title is brought to life by a captivating soundtrack that oozes mystery and adventure.

A Wild symbol substitutes for all symbols except Coin symbols and Collector symbols, and it can only appear on reels two, three, four, and five.

During the main game, Coin symbols and Collector symbols have the potential to land on any reels. If there is one or more Collector symbols and a minimum of one Coin symbol on the reels, each Coin symbol will show a value between 1x to 10x – and wins are paid for every Collector symbol on the reels.

The Bonus Feature is activated when six or more Coin symbols appear anywhere on the reels, awarding an initial three spins. When four or five Coin symbols hit, they may randomly reveal more Coins to top up the total to six to launch the bonus. Once in the feature, only Collector symbols, Coin symbols, and Mini, Minor, Major, or Grand prize symbols appear.

After every bonus spin, all positions without Coin symbols, Mini symbols, Minor symbols, Major symbols and Grand symbols will spin to reveal either Collector symbols or nothing. If a Collector symbol lands, it collects the values from prize symbols on screen. Coin prizes range from 1x–10x, Mini awards 20x, Minor 50x, Major 500x, and the Grand symbol delivers an impressive 5000x the bet.

PG Soft’s spokesperson commented: “Alibaba’s Cave of Fortune is a jewel in the desert sands, promising treasures beyond belief to those who can find a way through the traps and puzzles. Each spin is a step closer to claiming Alibaba’s legendary fortune.”

The post PG Soft welcomes players into Alibaba’s Cave of Fortune appeared first on European Gaming Industry News.

Continue Reading

Latest News

Just Dance, MLBB and HADO Added to Lineup of Global Gaming Icons for the Games of the Future 2025

Published

on

Reading Time: 2 minutes

Phygital International (PI), the exclusive rights holder and custodian of the Games of the Future (GOTF), is unveiling the final game titles set to feature in this December’s pioneering phygital sports tournament, along with a powerful line-up of new global media partners who will bring the event to fans around the world.

With 11 disciplines and the world’s best athletes ready to compete across virtual and physical challenges, the Games of the Future 2025, taking place at ADNEC in Abu Dhabi from 18-23 December, promises to deliver a groundbreaking phygital showcase that will redefine what it means to play, perform and compete.

In addition to previously announced global esports icons such as Counter-Strike 2, Dota 2, Fortnite, Fatal Fury: City of Wolves, UFL and 3on3 Freestyle, Phygital International has confirmed three new titles that further broaden the depth and dynamism of the tournament. Each game has been carefully selected to complement a unique phygital discipline, showcasing the full spectrum of speed, skill and strategy that defines the Games of the Future.

Joining the roster is Mobile Legends: Bang Bang (MLBB), the global mobile gaming phenomenon that has defined the multiplayer online battle arena (MOBA) genre for millions of players worldwide. In the MOBA Mobile discipline, MLBB will see players battle in high intensity matches that test strategy, coordination and tactical mastery.

Adding rhythm and flair to the lineup, Just Dance, the world’s best-selling dance game series, will take centre stage in the Phygital Dancing competition. Renowned for its vibrant energy and expressive gameplay, Just Dance brings one of the world’s most dynamic and community-driven gaming experiences to GOTF 2025, where athletes will be challenged to combine choreography, precision and physical stamina as digital gameplay meets live performance in a visually electrifying showcase.

In the confirmed lineup of tournament games, the addition of HADO completes the roster, serving as the core of the virtual reality (VR) gaming competition. As a pioneering augmented reality (AR) experience, HADO integrates real-world body movements with digital game scenarios through wearable AR technology. Players do not use controllers; instead, they directly “control” virtual skills with their physical movements – running, dodging and aiming in the real world – with every action directly impacting the in-game situation and instantly reflected visually. HADO promises to deliver a fast-paced, visually stunning VR competitive experience.

“These newly announced titles highlight the full range of phygital sports that people can experience at the Games of the Future 2025. From the expressive energy of dance, the global appeal of mobile esports to the groundbreaking innovation of AR gameplay, this second wave of games highlights the diversity and excitement of phygital sport,” said Nis Hatt, CEO of Phygital International.

In addition to expanding its game lineup, Phygital International is also announcing a series of major global media partnerships, ensuring that the Games of the Future 2025 will be accessible to fans around the world through both digital and broadcast platforms.

The post Just Dance, MLBB and HADO Added to Lineup of Global Gaming Icons for the Games of the Future 2025 appeared first on European Gaming Industry News.

Continue Reading

Trending

EEGaming.org is part of HIPTHER, parent brand of various prominent news outlets and international conferences. These platforms and events span a wide range of industries, including Entertainment, Technology, Gaming and Gambling, Blockchain, Artificial Intelligence, Fintech, Quantum Technology, Legal Cannabis, Health and Lifestyle, VR/AR, eSports, and several others. This indicates that EEGaming.org is part of a larger network that focuses on a diverse array of sectors, particularly those related to cutting-edge technology and modern lifestyle trends.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2025 HIPTHER. All Rights Reserved. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.