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Genting loses the race to obtain a new casino in Andorra

Niji Ng

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Genting loses the race to obtain a new casino in Andorra
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Genting Group, the Malaysia-based casino-operating company, was hoping to win a license to build and operate a casino in the Spanish region of Andorra. It was among the total 13 casino operators who submitted bids. In fact, Genting was one of the highest bidders, with $164.6 million. However, Genting’s construction proposal was not accepted, and the company was not chosen for the license.

Genting was disqualified from the bidding process over issues surrounding its purported ability to secure the land where it hoped to build, Spanish broadcaster Cadena Ser reported. The company had proposed a $162.8 million, 20-story tower, and Andorra was concerned that it had not proven that the land was already secured. Genting can challenge the decision if it so chooses.

The company who won the casino rights is Jocs SA. Jocs is a company already based in Andorra that has a technology alliance with Novomatic AG, a gaming equipment manufacturer out of Austria. The proposal by Jocs would include a six-story building – of which two would be built underground – at a price of $17.5 million (€15 million).

While the decision was certainly a little disappointing to Genting, it still has other opportunities. The company currently has operations in several parts of Asia, including the Philippines, Malaysia and Singapore, and in the US, the UK, the Bahamas and Egypt. It also operates casino cruise ships through its Genting Hong Kong subsidiary. The company plans on launching several new vessels between now and 2021.

Jocs SA, also known as Joc Privat, started as a publication for the Spanish gambling industry. It provides information on a number of gaming activities, such as recreational machines, locations, online gaming and manufacturers and distributors. The company was launched in 1994 and publishes a paper magazine monthly, as well as maintains its digital version. The company is owned by the Andemar Catalunya Business Association, which is part of Foment del Treball.

Andorra has been working to improve tourism in the area, and believes that the recent increase in attention of the gambling industry is the best catalyst to increase the number of tourists that visit the region. The local government introduced a law two years ago that authorised casinos, with initial licenses valid for 20 years.

The law also stipulated that any company wishing to secure a license would be required to invest a minimum of $11.7 million and receive government approval. The Jocs casino will be the first in the area, pending final approval and construction, which could take more than a year and a half.

 

Source: CalvinAyre.com

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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MGA to sign deal with Guardia di Finanza

Niji Ng

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MGA to sign deal with Guardia di Finanza
Photo Source: cfjctoday.com
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The Malta Gaming Authority has revealed plans to enter into an agreement with Italy’s Guardia di Finanza to share intelligence with investigators of both the countries for more effective tackling of illegal gaming activity.

The agreement is expected to be signed in a few days. The deal is proposed after a recent investigation revealed Malta’s role in a multi-billion Euro money-laundering scheme and resulted in the arrest of 68 people and the seizure of over €1 billion in assets across Europe.

The investigation, which was done in cooperation with Eurojust, the Maltese authorities, and their European counterparts, was led by the prosecutors of Bari, Reggio Calabria and Catania, and coordinated by the Italian National Anti-Mafia and Counter-Terrorism Directorate.

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Italy nabs online gambling mafia crew

Niji Ng

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Italy nabs online gambling mafia crew
Photo Source: pixabay.com
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The Italian police have arrested 68 men in connection with the running of massive online betting racket after an international combing operation, which involved more than 800 police personnel. The police seised assets worth more than €1bn. The mafia’s operation was spread over 12 countries.

The groups arrested had been making deals with businesses in the online betting world, providing them with facilities to recycle large quantities of money through illegal parallel circuits on betting platforms in exchange for promotion and protection.

Some of those who had been arrested own Rolex watches and Ferraris and used to eat in posh restaurants and indulge in gambling in Las Vegas.

Federico Cafiero de Raho, the Police Unit’s Head, commented: “We can see from ongoing investigations how the mafias work together in different sectors. We still need to establish whether there is a fixed leadership or if the deals change depending on the territories involved.”

Goods and cash were apprehended in Albania, Austria, Great Britain, Germany, the Isle of Man, Italy, Luxembourg, Malta, Romania, Serbia, the Seychelles and Switzerland.

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Swiss Casinos forges partnership with Playtech for online launch

Niji Ng

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Swiss Casinos forges partnership with Playtech for online launch
Photo Source: techfinancials.co.za
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Swiss Casinos, a major land-based casino operator in Switzerland, has signed a partnership with Playtech, the premier gaming software development company based in Isle of Man, for the launch of its online casinos.

The move is significant as the Swiss market will host iGaming for the first time from January 2019.

According to the newly passed Swiss legislation, only the land-based casino operators in the country will be eligible for the licence to run iGaming facility through their online channel from January.

“We are extremely excited to have found an internationally experienced and innovative partner in Playtech,” Swiss Casinos Group chief executive Marc Baumann said. “We will now be able to offer our customers in Switzerland an attractive iGaming offering.”

Playtech chief operating officer Shimon Akad added that his company was pleased to have partnered Switzerland’s leading casino brand.

“Playtech has a long history of success in cooperation with leading brands in the world’s most important gambling markets, and we are looking forward to a long and successful partnership with Swiss Casinos,” he said.

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