Connect with us
SIS

Asia

Chinese Police Arrests 9 Suspects for Illegal Online Gambling

Niji Narayan

Published

on

Chinese Police Arrests 9 Suspects for Illegal Online Gambling
Photo Source: digitaltrends.com
Reading Time: < 1 minute

 

Police in Anhui Province of China have arrested nine suspects for organising online gambling through QQ groups.

At the end of 2018, police received information that a victim had lost over 600,000 yuan (around 87,200 USD) through gambling on a website called “Jurassic.”

They then found multiple suspects through bank, Alipay and Tenpay accounts provided by the victim, but the investigation has been very difficult due to a large number of accounts and phone numbers involved.

After a thorough investigation, police finally targeted a gambling gang led by a suspect surnamed Chen. The gang of nine have convened almost 10,000 people participating in online gambling through QQ groups and made more than 50 million yuan (Around 7 million USD) in illegal profit.

The nine suspects were detained and more than 200 bank cards, 50 cellphones and eight computers were also seised.

Asia

Sands China Obtains Exemptions on Credit Facility

Niji Narayan

Published

on

Sands China Obtains Exemptions on Credit Facility
Reading Time: < 1 minute

 

Sands China Ltd, the Macau subsidiary of Las Vegas Sands, has made changes to the terms of a US$ 2.0 billion loan facility that it owns.

The revolving unsecured credit facility was approved by Sands China in November 2018 and it is valid until July 31, 2023. The facility involves a host of banks and has Bank of China Ltd, Macau Branch, as the lenders’ representative.

The revised terms allow for the agent and borrowers to “waive any default that may arise as a result of any breach of the requirements” even in the restated form.

The other changes are the following: the borrowers waiving Sands China’s conditions to ensure that its combined leverage ratio on the last day of any quarter does not exceed 4 to 1; and the combined interest coverage ratio on the last day of any quarter is greater than 2.5 to 1.

The lenders also decided to “extend the period of time during which the company may supply the [lenders’] agent with its audited consolidated financial statements for the financial year ended on December 31, 2019; to April 30, 2020;” with a similar loosening of the deadline for disclosing the results of the 2020 financial year – namely to April 30, 2021.

Continue Reading

Asia

Cambodian PM Orders Shut Down of Casinos

Niji Narayan

Published

on

Cambodian PM Orders Shut Down of Casinos
Reading Time: < 1 minute

 

Cambodian Prime Minister Hun Sen has ordered that all casinos in the country should be shut down as a preventive measure against the spread of the coronavirus.

Under measures introduced by the Ministry of Economy and Finance to combat the spread of COVID-19, all casinos in the country have to close its operations from 11.59 pm on Wednesday 1 April until further notice with the government to “take action in accordance with the law in force accordingly” against any operators that fail to comply.

Continue Reading

Asia

Osaka Extends Casino RFP Deadline

Niji Narayan

Published

on

Osaka Extends Casino RFP Deadline
Reading Time: < 1 minute

 

The Government of Osaka prefecture has extended the casino RFP deadline by three months in view of the coronavirus pandemic.

The Osaka Government announced last week that it will allow three more months as a result of the global coronavirus pandemic. The government is still hopeful of realizing its 2026 goal for starting an IR, but the present health scenario is likely to force further delays.

Along with the delay in RFP, the decision on choosing a private-sector partner to participate in the project will also be pushed back.

Continue Reading
Advertisement
NSoft

Global Gaming Industry Newsletter – Weekly Digest (sent every Wednesday)

Please select all the ways you would like to hear from European Gaming Media and Events:

You can unsubscribe at any time by clicking the link in the footer of our emails. For information about our privacy practices, please visit our website.

We use Mailchimp as our marketing platform. By clicking below to subscribe, you acknowledge that your information will be transferred to Mailchimp for processing. Learn more about Mailchimp's privacy practices here. Read more about European Gaming Media and Event's Privacy Policy and Terms of Service.

Subscribe to our News via Email

Enter your email address to subscribe to our news and receive notifications of new posts by email.

Trending

Notice for AdBlock users

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