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Hard Rock Completes Payment Bond for Casino Resort in Catalonia

Niji Ng

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Photo credits: yandex.com
Reading Time: 2 minutes

Hard Rock International, a Florida-based gaming and hospitality company has completed the financial part of the deal with the Government of Catalonia to build and operate an integrated resort at the province.

Damià Calvet, head of the Catalan Department of Territory and Sustainability, said that Hard Rock completed its payment bond on Friday, which is within the previously set deadline.

Hard Rock’s payment bond is worth €10 million, out of which €3 million was required to deposit last year when it entered the competition for the construction of an integrated resort in the Tarragona province. The operator completed the bond payment by paying to remain €7 million on Friday.

Hard Rock now has three years to complete its major project. It is believed that the company will break ground on the complex before the summer of 2019. According to government estimates, the resort could generate 11,000 new jobs, both indirect and direct.

Commenting on the massive project, Mr. Calvet said that it would help Tarragona turn into a globally popular tourism destination. He further explained that despite previous reports that the plan had been scrapped, that had never happened. The official went on to say that they have been working quietly to make sure that the project will help Tarragona and Catalonia, as a whole, to improve its economy and tourism industry while new jobs are created.

It was late last month when the Government of Catalonia formally approved the €2-billion integrated resort scheme. The bidding process for the resort was opened last summer and by the time it closed, Hard Rock remained the only bidder for the development of a mixed-use property with hotels, attractions, and a casino. The Florida-based company was eventually given the green light to proceed with that plan after multiple delays.

The project was previously referred to as BCN World, but it was announced in May that the resort will actually be called Hard Rock Entertainment World. It will be located in the Vila-seca and Salou region in the Tarragona province.

According to details previously provided by Hard Rock, its Catalan resort will feature two hotels with a total capacity of 1100 rooms, a 75-store retail centre, a number of dining facilities, bars, and entertainment venues, and a 10,000-square-meter casino. The company has said that it plans to spend around €2 billion on the mega scheme. It is yet to be announced when the integrated resort will be completed, but as mentioned above, that should happen within a three-year period, under the company’s contract with the Government of Catalonia.

The construction of the Tarragona property comes as another indication that major hotel and casino companies might finally be ready to explore and expand their integrated resort operations into Europe. Properties of this type have already become the standard in Las Vegas and multiple Asian countries, but they are yet to be introduced properly to the European gaming and hospitality scene.

Hong Kong’s Melco Resorts & Entertainment will probably open Europe’s first proper integrated resort. The company broke ground Friday on a €550-million development in the Republic of Cyprus. The integrated resort is slated to launch in 2021 and to feature a hotel, a casino, MICE facilities, and a number of attractions. 

 

Source: CasinoNewsDaily

Niji has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. Besides reporting industry headlines from all around the globe, Niji is also head of the content management team at Impressions Content Management, based in Kerala, India, which offers writing and editing services to clients around the world.

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William Hill launches responsible gambling initiative

Niji Ng

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William Hill launches responsible gambling initiative
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William Hill has introduced a new responsible gambling initiative in the UK following the widespread concerns about its below par standards in the aspect. The company had earlier admitted to “falling below” the standards expected by the national regulator, parliament and the general public.

Its new campaign, titled “Nobody Harmed,” aims to counter the issues related to problem gambling and provide assistance to overcome the problem.

The company said the initiative will be launched across both its retail and online businesses.

Ciaran O’Brien, director of corporate communications at William Hill, said that the bookmaker must “move much faster” to tackle problem gambling and the new Nobody Harmed campaign will form a large part of this effort.

“Quite simply, while we have always taken problem gambling seriously, we have fallen below what’s expected of us by the regulator, parliament and ultimately the public,” O’Brien said.

“We need to move much faster and get much better at addressing the harm caused by problem gambling.”

William Hill has set out four key targets it aims to hit with the new campaign.

The bookmaker will look to support all customers to stay in control through the design and marketing of our products; create new ways to identify people at risk and intervene effectively; strengthen its system of support for those who do experience harm; and empower all William Hill staff to fulfil its shared ambition.

“The ultimate goal of the campaign is that nobody is harmed by gambling, but like any ambition, it will be hard to achieve and we certainly cannot achieve it alone,” O’Brien said.

“The important thing about stating the ambition however is it gives a clear lead to our people that we should seek to do the right thing.”

Confirmation of the new campaign comes as the Advertising Standards Authority (ASA) said it was examining whether William Hill and Bet365 breached television betting advert guidelines during the recent World Cup football tournament. Companies are barred from making urgent calls to action in commercials.

In response to this, O’Brien admitted that while a company as big as William Hill “will get things wrong”, the bookmaker is “committed” to working with the ASA on implementing new rules on advertising.

 “The new ASA code only came in in April and are subject to some interpretation so it may be that until we have some case history we won’t know what is covered by the code but if we have contravened it we will hold our hands up,” O’Brien said.

“In any big organisation we will get things wrong – the important thing is our intention, our key actions and how we deliver on them and learn out loud on the way through.”

“We have also committed to take serious look at advertising and what could be done better – including much stronger restrictions if needs be – as part of this process.”

 

Source: igamingbusiness.com

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Record Loss for Russian Bookmakers In The World Cup Final

George Miller

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Record Loss for Russian Bookmakers In The World Cup Final
Photo Credits: Matthias Hangst/Getty Images
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In the 2018 World Cup final, France defeated Croatia and won the world championship for the second time in its history. Deputy General Director for Trading BC “League of Stakes” Maxim Afanasyev said that the match was a record loss for Russian bookmakers.

“We recorded a record for the loss – 3.5 times more than at the Champions League final. They played all the outcomes, which were mostly put by the clients: the victory of France, the handicap (-1.5) for the French, both will score, goals in both halves, and, of course, all conceivable and inconceivable totals, ” said Mr. Afanasyev.

He also noted that the final match was probably the most record on payments in the entire bookmaker industry.

“The loss on the Russian market from one final match, according to my estimates, is about $ 100 million,” the expert believes.

In the final match of the 2018 World Cup, France defeated Croatia 4: 2.

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Roundtable discussion on Romania’s current gambling issues

George Miller

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Roundtable discussion on Romania's current gambling issues
Photo credirs: casinoinside.ro
Reading Time: 2 minutes

The Association of Distance Gambling Organizers (Asociația Organizatorilor de Jocuri de Noroc la Distanță) and Casino Inside offered an exciting event

 

The Association of Distance Gambling Organizers (Asociația Organizatorilor de Jocuri de Noroc la Distanță), a representative association of the largest and most respected authorized gambling operators in Romania, held the first working meeting last month in the Fortuna Hall of the Intercontinental Hotel, Bucharest dedicated to the latest developments in the countries gambling regulation.

The meeting was honored by the presence of several officials:

  1. Liliana Kleininger, Vice-President of the Competition Council
  2. Daniel Staicu, President of ONPCSB
  3. Lilian Onescu, Secretary General ANAF
  4. Rodica Tuchilă, ARB Executive Director
  5. Mihăiţă Ruiu, Director of Authorization Division, ONJN
  6. Tudor Simota, Director of Control Department, ONJN
  7. Alexandru Enăchescu, Chief Commissioner, Economic Police
  8. Dana Cristina Matache, GDPR Expert, lawyer
  9. Iulian Matache, GDPR Expert, lawyer
  10. Monica Gubernat, Member of CNA
  11. Odeta Nestor, President of ADGO
  12. Dr. Sorin Constantinescu, gambling expert

The Roundtable discussion was a good opportunity for authorities, gaming operators and media outlets to be together and to discuss and share information, ideas and opinions about the latest and upcoming trends in the industry.

“There is a need for industry to continuously participate in debates and to support authorities in improving the regulatory framework,” said Odeta Nestor, ADGO President. “We are a success story at European level, and the effects are particularly good, reflected by players’ satisfaction and the contribution of the field to Romania’s economic development,” added Nestor.

Organized in partnership with CasinoInside, the event approached subjects such as:

  • Competition in the gambling industry
  • Problems encountered by gaming operators in relation to banking institutions in our country
  • Latest Tax Changes in Gambling
  • Draft Law on the Prevention and Combating of Money Laundering and Terrorist Financing on Transposition of
  • EU Directive 2015/849 into national legislation
  • The CNA Order on Gambling Advertising
  • Implementation of the General Data Protection Regulation.

In conclusion, the event organized in June at the initiative of the Association of Distance Gaming Organizers (ADGO) was a majir success and arose from the continued need of our gaming industry to discuss and debate the stringent issues of this moment and willingness to support state authorities to improve the current regulatory framework.

The gaming industry has reached a high level of transparency and regulation precisely because of this type of events.

 

Source: casinoinside.ro

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