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The Japanese lawmakers all set to vote for the IR bill

Athira A

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The IR implementation bill could promptly get an assent as the Japanese lawmakers are all set to vote for the IR bill and come to a conclusion whether to permit two or six cities to host venues.

After considerable lobbying by the casino industry for regulations in Japan over a decade, lawmakers are finally ready to take a step ahead for the IR implementation bill. The upcoming debate centres the parties of Prime Minister Shinzo Abe, proposing up to six cities and its Komeito coalition partner, wanting only two be permitted to host casinos.

According to an executive from a US operator, “The operators had been expecting to compete in at most two all-or-nothing beauty parades for the first licences, but could now find themselves in a more strategic chase around regional Japan.” The market could emerge into the second largest after Macau, as it would potentially reach revenues between €12.1 billion and €20.3 billion, solely depending on which plan gets approved.

A Financial Times source close to Komeito politicians said: “This is a meeting that will have a lot of moving parts, and a number of issues like tax rates, entrance fees and the physical size of casino floors will be subject to horse-trading. Probably the biggest haggle is going to be over the number of licences. The LDP is going to come in very aggressively with a proposal for either five or six licenses. In the end, I think they will walk away very happy if that is bargained down to three.”

Athira is a self-described “logophile” – a lover of words. She loves updating her vocabulary and playing around with words, to frame a sensible world of letters. Letters come alive when they become words and when words become sentences. And that’s her job, to put them together in a meaningful way without loosing its essence. She has written content for websites, articles and poems for an international magazine, and press releases as well. She also loves writing on social media. She holds a Masters degree in bio-technology, but she has always been interested in the organic farming of words. Besides writing content for our daily news feed, she is also working as staff writer/editor with Impressions Content Management, based in Kerala, India, which offers writing and editing services to clients around the world.

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Compliance Updates

William Hill is going to appeal Dutch regulator’s heavy fine

Niji Ng

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William Hill is going to appeal Dutch regulator’s heavy fine
Photo Source: independent.co.uk
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William Hill plc. has decided to file an appeal against the heavy fine of 300,000 euros slapped by the Dutch gaming regulator, Kansspelautoriteit. The regulator imposed the penalty on the company for offering online games of chance to Dutch consumers. The website provides Dutch translation facilities and using the Dutch bank account-linked iDEAL online payment solution.

Online gambling is presently banned in the Netherlands. The country does not offer licenses to any company either. The issue of gambling license has been being discussed in the Dutch parliament for some time now.

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Compliance Updates

Norway court orders against GiG in Euro TV AS case

Niji Ng

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Norway court orders against GiG in Euro TV AS case
Photo Source: domstol.no
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Bergen City Court in Norway has ordered Gaming Innovation Group Inc. (GiG) to transfer 3.4 million shares to Euro TV AS on the basis of an alleged oral agreement between the parties 30 April 2015. The order comes as a blow to the Malta-based gaming technology company.

GiG is assessing the order and will make a decision on whether appeal the order or not.

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Compliance Updates

BDO Malta becomes MGA-approved service provider for gaming licencees

Niji Ng

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BDO Malta becomes MGA-approved service provider for gaming licencees
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BDO, a Malta-based corporate services firm specializing in accounting, auditing and tax consultation verticals, has obtained the approval by the Malta Gaming Authority to act as an official Service Provider for System and Compliance Auditing. The  required System and Compliance Auditing is mandatory for gaming operators in Malta as per the regulations.

BDO and its Technology Advisory and Assurance team obtained the approval after passing through a review based on specific criteria as laid out by the Authority. BDO have a tech team comprising CISA qualified individuals with years of experience in servicing the gaming industry.

BDO assisted a number of gaming companies over the years with their licencing application, policies and procedures, renewals, Key Official roles and ongoing matters pertaining to their licence conditions Mark Attard CEO and Partner of BDO Malta said:

“We are delighted that BDO Malta have been given the authorisation to act as Service Providers. This is undoubtedly another seal of approval by the regulator of the world’s iGaming capital and the latest offering we are adding to our service portfolio, as part of our growing Technology Advisory and Assurance service line. We are now able to offer our gaming clients a fully integrated service, with them safe in the knowledge that we adhere to the highest standards as laid down by the Malta Gaming Authority. BDO Malta and all of our team is committed to ensuring that Malta retains and evolves further, its reputation as a jurisdiction of excellence for iGaming and associated industries.”

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