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UKGC urges gaming industry to improve standards
William Moyes, the chairman the UK Gambling Commission (UKGC), has urged the gaming industry to raise standards.
He was presenting the organisation’s annual report. He said while 2017–18 was a year of “considerable change” for the local market, there could be more changes as the UKGC changes its approach on the industry.
The UKGC chairman explained that he intends to protect the interests of consumers, prevent harm to consumers and the public, raise standards in the gambling market, optimise returns to good causes from lotteries and improve the way the Commission regulates. “This year will bring more change for the industry. We have set out ambitious plans for the coming year, and indeed for the life of our three-year strategy,” Moyes said.
“We cannot deliver this work alone. We need continued strong partnerships with other regulators, consumer representatives and government. Most importantly, we need the industry to step up and work to raise standards and reduce the risk of harm,” he stated and added: “The challenge now is to support the industry in the raising of standards and in making gambling fairer and safer for all.”
Source: focusgn.com
Asia
Macau Foresees Gaming Revenue Growth to $30 Billion by 2025
Macau’s 2025 casino gross gaming revenue (GGR) is forecast to reach MOP240 billion ($29.9 billion), says the Office of the Chief Executive (CE), in the financial-year 2025 budget plan published on last Thursday, and which has been submitted to the city’s Legislative Assembly.
That would be a 31.1% rise on the MOP183.06 billion achieved in 2023, the first year of trading since pandemic-related restrictions were lifted. It would be an 82.1% recovery rate compared to the MOP292.46 billion in the pre-pandemic trading year of 2019, as per data of the local regulator.
The 2024 budget plan predicted MOP216 billion GGR for this year. The tally for the calendar year to the end of October is MOP190.14 billion. The 2025 budget would represent year-on-year growth of 11.1% from the forecast for 2024.
The 2025 budget plan estimates the Macau government will collect MOP84.0 billion in gaming taxes from the city’s six casino concessionaires for financial year 2025. That is calculated based only from the levy of the so-called “special gaming tax”, which stands at 35% of GGR for the current 10-year gaming concessions that started from January 1, 2023.
With other contributing levies for social causes, the effective tax on Macau casino GGR is 40% for the current concession term.
“It is estimated that the recovery momentum of the integrated tourism and leisure businesses for the next fiscal year [2025] will continue, with a continuous rise in inbound tourist volume, albeit their travel and consumption patterns may see changes,” the Office of the Chief Executive stated in its fiscal year 2025 budget plan.
“Integrated tourism and leisure businesses” is a term used by the authorities to indicate the casino resort sector.
The chief executive office added: “Considering all factors, the fiscal year 2025 gross gaming revenue is estimated to reach MOP240 billion. Such is the principal fiscal income that serves as a foundation for the Macau Special Administrative Government in formulating the fiscal year 2025 budget plan.”
Post the Covid-19 pandemic, Macau’s fiscal income had seen a “gradual recovery” since 2023, as economic improvement had been led by the integrated tourism and leisure sector, the document also mentioned.
For the whole of fiscal year 2024, the Macau government had forecast it would collect MOP75.6 billion in gaming taxes from the casino concessionaires, levied as special gaming tax, according to the 2024 budget plan.
The 2025 plan will be current Chief Executive Ho Iat Seng’s ultimate fiscal-year budget proposal before stepping down at the end of his five-year term.
Sam Hou Fai, most recently president of Macau’s Court of Final Appeal, the city’s most senior judicial position, is to succeed Mr Ho as the city’s leader, with a swearing-in ceremony to be held in December.
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Nolimit City takes you on an outing to the Carnival in Munchies
Nolimit City is serving up a twisted carnival treat in Munchies. Step into the fair grounds as Nolimit’s latest Labs game released following the release of Outsourced: Slash Game. As a Labs title, expect a fresh and experimental spin on the classic Nolimit style. In the heart of the carnival tents lies a curious attraction: Fluffers—a cute, cuddly, but oh-so-smelly creature that’s causing quite the commotion among visitors. Some may say it’s the attraction of the year!
In Munchies, you get up close and personal to Fluffers, who hides a screen in it’s belly. The reel displays one symbol per spin, which can either be a multiplier or a blank. With xBet™ choose between playing with 2 or 4 reels and introducing Linked Wins to the mix. In the case of a multiplier higher than the subsequent reel, its value will be transferred to the subsequent reel. When a Bonus Symbol lands with multiple active reels, they also transform to the subsequent reel rewarding up to 40 Free Spins! God Mode is also an attraction at the carnival.
Fluffers goes from adorable to ravenous in It’s Alive Spins!! However, things get even more ferocious in Devour Spins. When landing a Bonus Symbol in It’s Alive Spins awards and extra 5 Free Spins per Bonus Symbol. The difference in Devour Spins is that the highest multiplier value which lands, gets locked above the reel area and is rewarded to a player with each spin. Whenever a higher multiplier lands on the lower reels, they will replace those locked Multipliers above.
Munchies is a one of a kind slot with a new mechanic that will make you scratch your head in excitement with Linked Wins and a maximum payout of 10,000x the base bet with 1 Reel, 20,000x the base bet with 2 Reels and 40,000x with 4 Reels. Munchies, unlike Nolimit City’s high-volatility slots, is rated as ‘High Volatility’ so be careful because Fluffers doesn’t discriminate when it comes to it’s food!
Per Lindheimer, Head of Product at Nolimit City, said: “Fluffers is a deceptively cute little monster with one thing on his mind: MUNCH! Munchies is unlike anything we’ve dished out before—equal parts quirky and daring. The Linked Wins mechanic allows players to play the way they want, especially on 4 reels, where things get downright crazy. Just don’t get too attached to Fluffers… he’s got a big appetite!“
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BOS presents initiative against money laundering
Money laundering is a threat in all sectors of society where money is present, including the gambling sector. The Swedish Trade Association for Online Gambling (BOS) is therefore today presenting two initiatives related to money laundering.
Firstly, BOS presents an AML (Anti Money Laundering) checklist with bullet points that BOS recommends that online gambling companies on the Swedish gambling market follow. The purpose is to reach the highest possible standard in the work against money laundering, in regards to authorities and society in general.
Secondly, BOS presents in collaboration with the consulting agency Advisense a report on money laundering and the Swedish online gambling market. The report is based on interviews with BOS member companies and contains concrete proposals for improved AML work in the gambling sector, for gambling companies as well as banks and authorities. For example, with inspiration taken from the banking sector, the establishment of a Swedish Anti-Money Laundering Intelligence Task Force between the gambling industry and the Financial Police is proposed.
“Today we take this comprehensive approach to the problem of money laundering. The purpose is to make visible how the work against money laundering in the gambling industry can be improved. We present our report and checklist completely openly, so that even a gambling company that is not a member of BOS can use the material, if they so wish. We all win from that.”, says Gustaf Hoffstedt, Secretary General, The Swedish Trade Association for Online Gambling.
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