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Casino Developers Will Have to be Patient on Japanese Regulation, Says Analyst

Casino Developers Will Have to be Patient on Japanese Regulation, Says Analyst

Global casino operators are bending over backwards to get a piece of the future Japanese casino industry, but they may have to wait just a little bit longer.

Union Gaming Analyst Grant Govertsen believes Japan is unlikely to develop a framework of regulation for casino gaming until the fall and it will likely be an ‘October or November’ event.

The Japanese Diet passed its Integrated Resorts Promotion Bill in December, after years of mulling the issue, paving the way for the opening up of a market with the potential to become the second biggest in the world, after Macau. But Japan has not regulated casino gaming, not yet, at least.

The Integrated Resorts Bill was an enabler, giving the Diet a 12-month deadline to prepare a framework of regulation, which will lay down licensing requirements and measures to protect problem gamblers from using casinos.

No Movement in Spring

With the Diet’s ordinary session getting underway nice and early, on January 20, it was hoped that process would begin soon, but not so fast, says Union Gaming Analyst Grant Govertsen. There is unlikely to be any movement on regulation during the spring session, he said in a note this week.

‘Rather, we think the Diet has already made the decision to handle the IR bill during the fall special session, suggesting that it is more likely going to be an October or November event,’ Govertsen said.

Prime Minister Shinzo Abe’s ruling Liberal Dem Continue reading Casino Developers Will Have to be Patient on Japanese Regulation, Says Analyst

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California Mulls Latest Online Poker Bill, with Plenty of Ifs, Ands, or Buts

California Mulls Latest Online Poker Bill, with Plenty of Ifs, Ands, or Buts

The California online poker legislative push is back from the dead, and so is State Assemblyman Reggie Jones-Saywer (D-59th District) and his bill. Jones-Sawyer’s attempts to unite warring factions in the state’s gaming industry died in 2014 and 2015, along with his poker bills of those same years, but give the man credit: he doesn’t give up easily.

California State Assemblyman Reggie-Jones Sawyer returns with a new online poker bill, but will he succeed where others, including himself, have failed? Don’t hold your breath.

Undeterred, Jones-Sawyer has presented a new bill, AB 1677, aka the Internet Poker Consumer Protection Act, which offers little that’s new, although it does provide a platform to at least reignite the debate.

At the heart of that debate will be the question of suitability. Because online poker will see operators taxed, a bill to regulate it would need two-thirds majority vote to pass in the legislature. This is impossible unless all future stakeholders, mainly tribal casinos with political capital and lobbyists, are in agreement.

More of the Same

But blocking that outcome are two diametrically opposed groups of tribal operators, who are determined not to agree on the suitability question.

In one corner, the group that has loosely become known as the Morongo Coalition wants PokerStars to be included in a future market, because it has a commercial deal with the internet giant. In opposi Continue reading California Mulls Latest Online Poker Bill, with Plenty of Ifs, Ands, or Buts

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William Hill’s Largest Shareholder Needs Sale of Gambling Company

William Hill’s Largest Shareholder Needs Sale of Gambling Company

William Hill is once again at the center of merger talks, but this time around the business’s largest shareholder wants it to be the goal of a takeover.

William Hill is presumably back on the trading blocks after the company’s chief stakeholder reportedly called for the group to locate a potential buyer.

Parvus resource Management, a London-based hedge fund that controls 14.3 % of this UK bookmaking and gambling business, is apparently pushing William Hill to simply accept a qualified takeover.

According to The Sunday instances, A british weekend newspaper, Parvus believes William Hill should look to be acquired by, or merged with, another leading gambling firm that is online. Potential suitors include GVC Holdings, as well as 888 Holdings and The Rank Group, the two latter which attempted to buy William Hill last summer.

Both Parvus and William Hill declined to comment, but conjecture is running rampant in britain as a result of hedge investment’s considerable power.

Launched in 1934 by the company’s namesake, William Hill employs some 16,000 people today. The bookmaker has 2,370 real betting shops across the UK, which compliments its online gaming network.

Up to Parvus

It ended up being only last October that the investment group publicly blasted William Hill’s potential aligning with Amaya, the Canadian-based company that owners PokerStars.

Parvus said at the time, ‘We highly encourage that the board prevents Continue reading William Hill’s Largest Shareholder Needs Sale of Gambling Company