Inside Asian Gaming

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april 2016 #118 | 30 MOP

inside asian gaming

Saipan:Macau

iGAMINGBig Game

Promoters: EPL sponsorships

INDUSTRYPROFILE

Glenn McCartney

Invisible players:Triads in thejunket industry

IN FOcuS

uS?in the

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COVER STORY Contents aprIl 2016

Cover Photo: © Kris Scarci

14 Green Ambassador IAG talks to Glenn McCartney, who teaches gaming hospitality

at the University of Macau. to the city’s expat community, he is better known as the UK’s Honorary Consul and owner of two Irish-themed bars.

IN FOCUS

20 Invisible Players What has happened to Macau’s triads since the pre-handover

turf wars? IAG looks at the role the secret societies still play in the city’s casino industry.

FEATURES

26 ESSA’s Asian Mission the european bookmakers’ industry association aimed at wiping

out match fixing is trying to recruit members in Asia.

BLAST FROM THE PAST

30 Blow Out Averted our story from April 2011, which looked at the origins of Las

Vegas sands’ legal battle, still ongoing, with the dismissed Ceo of its China unit steve Jacobs.

TECH TALK

34 Power Play As electronic table game play grows in popularity, leading suppliers

are improving technology and spinning out new concepts.

iGAMING IN DEPTH

40 Big Game Promoters Consultant Peter Greenhill describes the convoluted procedure

Asian bookmakers must go through if they want to advertize in the english Premier League.

BRIEFS

42 Regional Briefs

44 International Briefs

46 Events Calendar

INDUSTRY PROFILE

Best Sunshine President Mark Brown explains how a US$7 billion investment fits US Pacific island Saipan’s 50,000 people and 500,000 visitors.

A Macau style casino in the US?6

inside asian gaming April 20164

EDITORIAL

Steven ribetWe crave your feedback. Please email your comments to [email protected].

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Chief Executive OfficerAndrew W Scott

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Letting the light in on Macau’s junkets

S ince Macau’s gaming downturn turned out to be not just a short-term dip but a protracted slump the city’s leaders have been talking continuously about improving industry oversight. in a policy address before the launch of the sector’s mid-term review a year ago, for example, chief executive Fernando chui stated his government planned

to “enhance gaming-related laws and regulations, strengthen supervision of the gaming industry, regulate gaming businesses’ operation and continue to push for responsible gaming.”

Greater transparency has often been mooted as a means to this end. if the government is serious about achieving a well-regulated casino industry it could open the Gaming inspection and coordination Bureau (DicJ) to public supervision. This is the norm for jurisdictions in europe and north America. The stated mission of the Massachusetts Gaming commission, for example, is to “create a fair, transparent and participatory process for implementing the expanded gaming law.”

Macau’s important but beleaguered junket sector is one area where nobody will deny the DicJ has not done a perfect job. A series of thefts from gaming promoters, including an astonishing US$1.3 billion stolen from the Kimren Group in 2014, has highlighted their work as unlicensed and unregulated lenders; borrowing from investors to finance high-rolling gamblers. Both inside Macau and abroad, there is also a widespread perception of organized crime involvement in Macau’s ViP rooms (see page 20 article).

Politicians and academics have criticized the Bureau with claims that its process for handing out licenses to the junkets lacks openness. “You cannot look at applications. They are confidential,” says legislator José Pereira coutinho. “i don’t know what they [the DicJ] are doing. nobody knows what they are doing.”

in January the DicJ made a step forward when it introduced a requirement that junkets compile and submit monthly accounting reports. Of a total of 176 junkets in operation, 35 were unable to do so and had their licenses revoked. The downturn was no doubt pushing some out of business, but it’s clear others were not deemed fit to be running their own casino operation. On top of stricter accounting, Kwok chi chung, who is president of the junket group the Association of Gaming and entertainment Promoters, has said he favors widening licensing requirements beyond junket operators themselves to include the collaborators they sub-contract to recruit gamblers.

Yet even expanded licensing requirements would leave plenty of space for abuse. As things stand, it’s entirely up to the DicJ to pressure each gaming promoter to disclose every financier and profit participant in its business. These may be influential stakeholders or even the junket’s true owners, even though their names do not appear on official paperwork. We don’t know how much due diligence the DicJ is doing on the promoters it is giving licenses to; how thoroughly it is investigating them for suitability. As coutinho says, the Bureau doesn’t have to give out information on any of these things.

The way forward is transparency. The DicJ could open the process to the public, letting us know the identity of the casinos that junkets contract with, the chip volume that junkets roll, their shareholders, key employees and collaborators. Like some jurisdictions, it might even allow ordinary citizens to attend the hearings it holds to assess the suitability of applicants.

Last October, the DicJ issued a statement saying it would revise “as soon as possible” the Administrative Regulation no. 6/2002, which regulates the conditions and procedures for issuing a license to a gaming promoter. The revision, it said, would focus on implementing new requirements for capital and the shareholding structure of junket operators, introducing tighter rules on accounting and auditing. crucially, the statement also talked about making public more information about the gaming promoters, “to guarantee that the people involved with a junket operator are suitable, leading to more transparency in the sector.”

Yet while new accounting rules have been brought in, improved transparency has not. The US Supreme court Justice Louis Brandeis famously remarked that sunlight is the best disinfectant. On transparency, it’s time to move forward.

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Best Sunshine President Mark Brown explains how a US$7 billion investment

fits US Pacific island Saipan’s 50,000 people and 500,000 visitors

COVER STORY

By Muhammad cohen, Editor At Large

Muhammad cohen also blogs for Forbes on gaming throughout Asia and wrote Hong Kong On Air, a novel set during the 1997 handover about TV news, love, betrayal, high finance and cheap lingerie.

M ARK Brown reentered the Asian Gaming 50 last year to the theme from Mission: Impossible. President and ceO of Best Sunshine in Saipan, Mr Brown was hired to implement a US$7 billion integrated resort plan without development sites

or funding on a remote speck in the Pacific. Best Sunshine’s parent company, Hong Kong listed Imperial Pacific International, is majority owned by Cui Lijie, who has family ties to Macau junket promoter Hengsheng Group. imperial Pacific terminated a revenue sharing deal with Hengsheng in October. Saipan is part of the commonwealth of the northern Marianas islands (cnMi) with broad self-governing powers and visa-free entry for mainland chinese. it is located closer

a Macau Style caSINO IN the uS?

April 2016 inside asian gaming 7

COVER STORY

to Beijing than to Hawaii. That led some to believe US regulations on money laundering wouldn’t apply in Saipan but US$78 million in fines levied last year against cnMi’s Tinian Dynasty casino, upheld in court, confirmed US regulatory reach. Best Sunshine is working with cnMi’s newly formed commonwealth casino commission (ccc) to forge groundbreaking rules to make Macau practices, including ViP profit share, compatible with US law.

Since joining Best Sunshine in november 2014, Mr Brown – the Las Vegas Sands Macau president who opened Venetian Macao and an alumnus of Trump casinos in Atlantic city, Wynn Resorts in Las Vegas and nagacorp in cambodia – has acquired land in Garapan, Saipan’s tourist heart, to build Grand Mariana, a Paul Steelman designed casino hotel scheduled to open late this year. He made

a partnership deal with Japan’s Kan Pacific for the site of its aging Mariana Resort, a massive 161 hectare (398 acre) plot that the government will offer to lease for 40 years into 2058 next month.

Perhaps most stunning, Mr Brown opened Best Sunshine Live, a temporary casino in Garapan’s DFS T Galleria mall, with 34 mass tables, 12 ViP tables and 106 slot machines. For 2015, with the casino open just over five months with only two months of full operations including ViP play, Best Sunshine reported gaming revenue of HK$707 million (US$91.2 million) and adjusted eBiTDA of HK$121 million. november through February monthly ViP roll averaged US$1.82 billion.

in his Saipan office, Mr Brown updated editor at Large Muhammad cohen on his progress in America’s Pacific frontier.

The beachfront piece is modeled after the One and Only resort in Dubai. This will open up at the end of this year, call it New year’s eve grand opening … The hotel block will continue to be built and will open in the first quarter of 2017, call it april for full building opening. Now that’s building one, and I look at that as a beautiful Sands [Macao].


COVER STORY

About the size of sAn frAncisco, sAipAn is the largest island in the commonwealth of the northern Marianas islands, a US Pacific possession 2,000 kilometers (1,260 miles) from Tokyo and 2,900 kilometers from Shanghai. While casino gaming is new to Saipan, cnMi islands Tinian and Rota began licensing casinos in the 1990s. Rota’s casino closed within weeks of opening. Tinian Dynasty, after incurring fines for violating anti-money regulations last June, has

mainly been closed since. Other groups holding casino licenses on those two islands sporadically rumble about moving ahead. each island has its own gaming commission and tax regime. On Saipan, Best Sunshine pays a $15 million annual licensing fee plus 5% gross receipts tax on all revenue, including gaming win.

Just ahead of casino legalization, Saipan authorized slot clubs, and three have opened in island hotels. The largest, club c in Kanoa Resort, with Macau’s iGamiX as management operator, has 140 gaming positions, a restaurant, bar and nightly entertainment. Ubiquitous poker machines cater to locals, and, unlike penny slots in other gaming venues, minimum bets are US$0.25.

america’s Far east coast

IAG: With Best Sunshine, it’s impossible to ignore that big number, US$7.1 billion. It’s especially difficult since you’re talking about an island with 50,000 people and half a million annual tourist arrivals that’s four hours from anywhere. Not just US$7.1 billion, but the proposed 4,252 rooms, 300 villas, 1,600 gaming tables and 3,500 slot machines: what makes those numbers right for Best Sunshine and Saipan?Mark Brown: i’ve heard the US$7 billion number. Our plan is actually more than that. i take a step back as i’m talking to investors. Look at what we’ve done from the temporary facility, generating these numbers with a small number of tables inside a shopping mall in Saipan. That’s step one.

We are building and got approval in full for a US$500-to-600 million property across the street, Grand Mariana, which will have between 400 and 500 slot machines, about 250 to 300 table games and 374 suites. The beachfront piece is modeled after the One and Only resort in Dubai. This will open up at the end of this year, call it new Year’s eve grand opening, basically the casino block, beach front, mass gaming floor, junket rooms, ballroom and restaurants.

The hotel block will continue to be built and will open in the first quarter of 2017, call it April for full building opening. now that’s building one, and i look at that as a beautiful Sands [Macao].

The second one is our big property, which will be roughly 1,000 rooms, roughly cost US$1 billion. So property one, property two, anywhere between a billion-five and two billion, that’s how we are looking at it. We are going for the RFP [Request for Proposal] in May for the parcel of land.

IAG: That’s Kan Pacific’s Mariana Resort site? MB: correct. We have a full blown plan for that site. But my point is that US$7 billion dollars is a plus-plus-plus. it is an investment from our company, but it doesn’t have to all come from us. We can have partners joining us from other gaming companies, hotel companies. it’s US$7 billion worth of investments. i keep saying, we’re going to spend and invest more than that. But it’s not a US$7 billion building that we are building on Saipan – and that’s how it’s been written – Grand Mariana, US$7 billion property. no, we are not building city center [MGM’s US$9 billion Las Vegas project] right out of the gate.

… we plan on having 20 buildings. The site is huge. That’s a city, our version of the cotai Strip with 11 hotels and nine casinos, villas and homes and condos, the largest water park in the world, shopping. It’s an astounding site.


COVER STORY

i use the example of LVS [Las Vegas Sands, in Macau], where i came from. There’s the Venetian, there’s the Parisian and you have the Four Seasons in the middle with a partnership there. Across the street, St Regis, conrad, Sheraton … same thing, where we could own one or two and the other five, six or seven are all other owners, exactly like how it is in Macau.

IAG: How does the deal Best Sunshine signed in December with Kan Pacific to cooperate through the term of its lease expiring April 2018 fit in? MB: it was a partnership agreement that, if we were awarded the RFP, we would partner with them and where they will also continue on with us. if they want to build a Japanese hotel on our site, they could do that, maybe we could get on the land sooner, and we’ll all do business together. We still want the Japanese market here, so for a Japanese company to build a Japanese hotel on our land, that’s great.

IAG: Under the agreement, they won’t bid on the site? MB: i’m not sure if they will or not, but they already know what our plan is. So if they are going to bid US$80 million to fix up their resort, that’s not going to be any competition to what we are planning on doing on that site.

AMERICA’S COTAI

IAG: That will be 1,000 rooms?MB: in one building, and we plan on having 20 buildings. The site is huge. That’s a city, our version of the cotai Strip with 11 hotels and nine casinos, villas and homes and condos, the largest water park in the world, shopping. it’s an astounding site.

IAG: Where do you stand with financing Grand Mariana and beyond? MB: For Grand Mariana, as i told the [commonwealth casino] commission, the funding is done. We have the money already for the US$500 million property. We raised in the very beginning US$350 million. We sold the Hengsheng junket piece; that was US$50 million. We are very transparent here. We have to show the commission everything.

IAG: So now what’s the relationship between Best Sunshine and Hengsheng? MB: now, absolutely nothing. That’s sold, that’s out of our company. now there’s zero.

IAG: How did you finance the rest? MB: The US$300 million was raised by equity and convertible

We are building and got approval in full for a uS$500-to-600 million property across the street, Grand Mariana, which will have between 400 and 500 slot machines, about 250 to 300 table games and 374 suites.


We are very fortunate to have these customers coming to this beautiful island. That’s what I keep saying: when people do come

they see this, there’s so much more to offer here than just a gambling destination … water sports, golf, outdoor activities that nobody else

has, and sunsets and scenery that nobody can compare to.

COVER STORY

bonds. We raised US$100 million three times, then US$50 million from the junket stake.

IAG: And you can build Grand Mariana if you don’t raise another dime?MB: correct.

IAG: Let’s talk about the temporary casino. Any revenue figures to share?MB: We publish our rolling numbers, starting november, the US$1.6 billion, the US$1.5 billion, the US$2.2 billion and the US$2 billion in February. We’re very proud of these rolling numbers. Our seven [ViP] tables went to eight, went to 10 and now there are 12. But we did our billion-six and our billion-five, over US$3 billion rolling on seven tables, which astounded all of us.

On slot machines, we’re roughly winning anywhere from US$200-to-300 per day. And normally we’re winning US$3,000 a day on the tables on the mass floor. Slot machines and mass tables somewhat average to US casinos, and our ViP are off the charts.

IAG: Where do VIPs come from? MB: Mostly from mainland china.

IAG: And they come because of their relationship with Ji Xiaobo? MB: it’s a relationship not only with him. We hired three-to-four marketing people that have relationships with these customers. Yes, they are all individual relationship based, all getting a 1.3% rolling program, which is very close to Macau. They’re 1.25%, so we’re giving 1.3%. You know when you leave Macau … i was just in cambodia, and we were in competition with everybody who’s giving 1.6%, 1.7%, 1.8%, some 2%. We are very fortunate to have these customers coming to this beautiful island. That’s what i keep

saying: when people do come they see this, there’s so much more to offer here than just a gambling destination ... water sports, golf, outdoor activities that nobody else has, and sunsets and scenery that nobody can compare to.

IAG: Where will mass customers come from? MB: The bright side is who’s coming to the island now, and why can’t i have a room more than one night. in our vicinity, there’s 2,800 hotel rooms, and they’re 100% occupied, seven days a week. Anywhere from US$200 to US$400 a night, filled.

chinese, Koreans, Japanese who come to the island right now. They’re here for three days, swimming, snorkeling, shopping, eating. For a four-five hour trip, if you’re coming from Beijing, Korea, Shanghai, Japan, this is heaven. We have a 50% [visitor] return rate.

The mass, i think, will come once Grand Mariana opens and our 370 rooms are in. There’s actually another 1,000 rooms being built on the island. There’s a 200 room Korean hotel, there’s a hotel called e-Land [branded Kensington] being fixed up – that will be another 300 rooms, which will help us.

Again, i want to keep reinforcing the transparency that we have here. So all the stories that you hear in Macau, over the table, under the table … Here we have no gaming tax – that’s the main point ... zero gaming tax, so we’re very transparent, we’re following all the AML [anti-money laundering] laws. We know the federal government’s eye is watching. On hiring practices, following all the US rules. We are following all the laws, cTRs [cash transaction reports], and know your customers, KYc, following all those laws.

That’s why customers are coming from mainland china. There’s something about the US that makes everyone feels safe. not only safe on the outside, but feel safe on the games. They know we are highly regulated, so it makes them feel comfortable. i’m not saying other jurisdictions are not, but you don’t know.


COVER STORY

Here, we are very closely regulated, so the customers who are betting US$600,000 a hand know that the game is real, all the nines are in there.

VEGAS SCHOOLED

IAG: You see being part of the US as a competitive advantage?MB: i do. i went to a graduating class yesterday. UnLV [University of nevada - Las Vegas] sent two experts here to train the ccc. So they trained their whole staff, a few of our compliance people, it’s like 40-something graduates. in a very short time they’re learning a lot. They want to do well; they want to learn. Were they local business owners before or farmers? Yeah, but they are very articulate, they want to do the right thing. They talked to Atlantic city, they talked to Vegas, they talked to Singapore, they talked to Australia and then

they went and took two classes at UnLV and then they paid a lot of money for UnLV to come here and train them.

IAG: So you’re comfortable, confident that you have 100% compliance?MB: We have a huge compliance committee, and we have people here that are on this every single day. We just hired a gentleman named Vic choi, who was the head of compliance for HSBc in china for many years. He is with us now on the corporate level, based in Hong Kong but here now. i introduced him to the casino commission, and they love the fact that we have somebody of that caliber who is now heading up our compliance department.

Yes, i’m very comfortable now with what’s happening. We have the right people in place. everyone is fully aware, the cage,

That’s why customers are coming from mainland china. There’s something about the uS that makes everyone feels safe. Not only safe on the outside, but feel safe on the games. They know we are highly regulated, so it makes them feel comfortable … all the nines are in there.


the dealers, everyone’s been trained on AML law, trained on cTR, trained on suspicious activities.

We are not sitting here doing whatever we want. The outside world has to know this. We are in the US. So it’s like Las Vegas, like any casino on the Strip. Whatever they are doing, that’s what we are doing. We are in the same place.

Because it’s very convenient for the mainland chinese customer to come on a four-five hour flight, no visa, and come in and play, we’re fortunate enough to have a commission that’s investigating and following up and finding out if it is possible for us to have a Macau style casino in a US territory. [Asian] customers come to the Las Vegas Strip, yes, but they don’t have it [there] because they’re so few and far between … it’s too far. Here, guys are hopping on our private jet, and they’re here. So we can have it, whereas Vegas can’t do that because they don’t have the activity.

IAG: What do mean by “Macau style casino,” and what’s the compliance impact?MB: What’s happening now, what’s approved, is an individual rolling program. everyone understands the slot card: put your card in and earn points, and you can buy food, you can buy gifts with that. it’s the same thing. it’s a rebate program on the table. That’s what the rolling program is, dead chips turning over. We are paying 1.3% of that total roll. That’s what this person gets. And that’s on an individual basis. So i’m giving an individual customer US$1 million credit, he plays and, in time, he turns it over, i give him his commission rebate and that’s it. He goes home. That’s been going on since we opened, this rolling program which the commission fully approved. i grant that individual credit, and they get a rolling program.

IAG: Is the rolling program available for cash, too?MB: You can start off here with a US$20,000 [cash] rolling program. it’s tiered. Right now that’s 1%, then it goes up to 1.1, 1.2 … 1.3 is a certain number and above. So anybody can join, from US$20,000 and above.

now the commission has approved step two. They are now allowing us to give rolling credit, and you distribute money to the four people you brought with you. You can call that an agent [program]. You’re bringing your four-five people with you, you’re giving them money to play with. Again, i reinforce, we know who those four-five people are because we have their passports, we have their identification, we know everything about them, but i’m only dealing with you on credit. i’m still rating everybody, but i give you US$5 million; [if ] you want to give them all a million apiece, it’s up to you. The commission’s approved that.

So now we have 10 applications on file that have been submitted to the commission that they are going to investigate. is this person here a junket rep in Macau? Does he work in Korea, or even the US? if they are affiliated in the US or Macau, they’ll look at that and give a little benefit if they are already working in Macau. Once our first agent is approved – we haven’t started that yet – but once the commission gives their full approval, then we’ll have that, and, honestly, that will be the first in the US. To really have a program where i’m giving one gentleman credit, and he is giving money to play with to these people he brought with him. But i’m only dealing directly with the agent [as far as credit goes], so that’s step one and step two.

COVER STORY

As we get closer to getting [Grand Mariana] to open, our goal, and the commission knows this, once they’re used to the 1.3 individual then we want them to get comfortable with giving one person credit [to distribute]. Then we’ll talk about profit sharing, where it is exactly like Macau where i’m going to give not only the one person – not a junket company – whatever amount of credit we give, and we work on a profit sharing basis, whether it is 60-40 like Macau, 70-30 like wherever else, i’m hearing some are even 85-15 out there now.

IAG: So it’s not junket companies. You could, say, give the credit to [Suncity Group Chairman] Alvin Chau ... MB: correct. We’re not giving rooms to anyone. There’s not the neptune Room, the Suncity Room ... it’s basically first come-first served, and if Alvin chau wants to bring 10 of his guys with him – i hope he does, we’ll give Alvin whatever he wants – and all the people that he brought, we know who they are. Again, no one plays on these tables that we don’t know who they are.

I’m very comfortable now with what’s happening. We have the right people in place. everyone is fully aware, the cage, the dealers, everyone’s been trained, on aMl law, trained on ctr, trained on suspicious activities.


INDUSTRY PROFILE

IAG: Glenn, you’re unmistakably Irish with that accent and two businesses in Macau with the word “Irish” in them! When did you come to Macau from Ireland and why?Glenn McCartney: i came to Macau a couple of years before the handover to do a project for the Portuguese administration for a small events company. At the time the new century in Taipa was advertising for a PR director and i applied. it had 600 bedrooms making it the second largest hotel in those days after the Lisboa. They gave me the job, and soon after a casino opened in the property and i was appointed director of sales and marketing. it was a good experience for learning about the gaming industry; about issues like junkets and so forth. it was also a time of negative publicity for Macau because of the triad wars. Visitors were primarily people from Hong Kong who just wanted to gamble. Percentage-wise, visitors from china were in single digits. it was a completely different era from today.

IAG: You’ve got a lot of hats, what with owning the Irish Bar near the Jockey Club and the Irish Coffee House near Park n Shop in Taipa, as well as being an academic at the University of Macau and also doing some more direct work in the gaming industry over the years. Which one do you consider your “main gig” so to speak and why?GM: There’s a common theme to all of my work and that is hospitality. it was an opportunity i spotted after i came to Macau, partly because at the time very few people were looking at hospitality in gaming as a science. compared to all the literature on Las Vegas and Atlantic city, there was little or none on Macau. So i developed myself through education and understanding of the science behind gaming development in a jurisdiction. Since 2002-3 this has pretty much been my gig. i did a PhD on the mainland chinese market by correspondence with the University of

Glenn McCartney is Assistant Professor in Hospitality and Gaming Managment at the University of Macau. But to expats in the city he is better known as the UK’s Honorary Consul and owner of Taipa’s Irish Bar and Irish Coffee House. For last month’s St Patrick’s Day

he organized a ball at the Grand Lapa Hotel with the Macau Irish Chamber of Commerce, and an expat football match played out in

damp cold to remind everybody of home. Steven Ribet finds out what motivates a man with so many different hats.


INDUSTRY PROFILE

Surrey in england. i was one of the first to research the behavior of outbound chinese from different mainland cities and what drives them to spend.

IAG: Being well into your second decade in Macau, you’ve seen a lot of changes here. Which have stood out the most to you?GM: There’s obviously changes in the physical landscape. When the Portuguese were here Taipa was fairly undeveloped and there was more green. There was nothing between Taipa and coloane; just a road that i used to run along looking left and right at the sea. The airport was just about finished. There’s also been changes in the population and in society. Before you didn’t see many foreign faces in Macau or hear much Mandarin. Of course the pace was slower and people had more time for each other. now there’s a lot more money in the system; it’s more about luxury brands and materialism.

iAG: You’re often quoted in the media in relation to Macau’s tourism

industry. Is Macau just about gaming, or do you feel there is a genuine tourism industry here quite separate to the casinos?GM: even back in the early 2000s we were looking at what had to be done for Macau to move forward. Macau has if anything reinforced its gaming identity since then and that has shown through in its revenues. Gaming is very much the footprint of Macau. There’s nothing wrong with that, but the issue is how you then build around that gaming to attract other leisure and business segments.

IAG: Both the Macau and mainland governments are pushing diversification of the Macau economy. Is this a realistic goal in the short and medium term? What about the long term?GM: i’m not optimistic we can move forward until we remove the obstacles to diversification. One of them is branding, which is paramount for how you identify a destination. At the moment we have government and private sector entities doing their own separate things and there’s no consensus on what the destination brand

There’s a common theme to all of my work and that is hospitality. It was an opportunity I spotted after I came to Macau, partly because at the time very few people were looking at hospitality in gaming as a science. compared to all the literature on las Vegas and atlantic city, there was little or none on Macau.

A keen runner, this year Glenn won the

men’s Faculty and Staff 1500m race at the

University of Macau’s annual sports day.’


is. There’s also training and talent. if we want to attract business tourism or other leisure markets we really need to look at our service quality. We don’t have a common goal or strategy. We don’t have public-private collaboration where we can work on a strategy document saying this is what we’re going to do. We need a consensus on where we want to be in the medium and long-term. The global tourism industry is very competitive. Outbound chinese now have plenty of options. So Macau has to think about how it fits in with the competition.

IAG: Macau got a great new shiny University at Hengqin a couple of years ago – going from the extreme of a tiny campus squeezed on top of a hill in Taipa to an enormous sprawling

INDUSTRY PROFILE

for Macau to strengthen its infrastructure. From a tourism point of view, what do you think are the most pressing issues and why?GM: every destination has to take care of getting people around in a seamless way, especially if it wants visitors on business, who pay a lot more money. Long queues at immigration and bottlenecking are not things we can get away with because people can now share them instantly on social media. infrastructure should always be ahead of development. it has to be planned for 30 or 40 years; for 2050 when Macau will be integrated with Hengqin and the wider Pearl River Delta. My concern is we are instead playing catchup. You can see Macau’s transit system hasn’t kept pace and that reflects quite negatively on the destination.

IAG: We’re seeing a paradigm shift in Macau from a VIP-dominated market to a mass-dominated market. Any comments on that?GM: The ViP downturn does not mean people in china are feeling a downturn. They’re still earning lots of money to travel and spend and their wealth is still growing. i think the area where we will see large developments will be the premium mass market, which is driven by casinos marketing direct to consumers. if our integrated resorts can appeal to a greater section of chinese society i believe that will be a very prominent future direction for the industry.

The VIp downturn does not mean people in china are feeling a downturn. They’re still earning lots of money to travel and spend and their wealth is still growing. I think the area where we will see large developments will be the premium mass market.

campus more than one square kilometer in size over over at Hengqin. What’s your opinion of the change?GM: it’s a large campus and we know Macau’s population isn’t going to be enough. So in the years to come we will have to appeal to mainland china and build a student base that is much broader than Macau in order to fill it. We will have to build its image and brand to appeal and compete regionally. My faculty is gaming and hospitality. One of the areas we have focused on is integrated resorts which is an area where Macau is unique. By leveraging this we want to partner with institutions in china.

IAG: We’ve heard you on a number of occasions stressing the need


IAG: What about Asian gaming outside of Macau. There’s Entertainment City in the Philippines, new developments in South Korea, and Japan always gets mentioned. New regulation might be coming to Cambodia and Vietnam and even Australia is drawing mainland Chinese visitors. Should Macau be worried?GM: As a scholar with a focus on iR management i’m lucky to have been to these jurisdictions over the past few years. i’ve been to Japan to talk about iR development, i’ve worked with Korean gaming sectors, the Philippines and recently i was in Australia. We know other

INDUSTRY PROFILE

jurisdictions have a lot of non-gaming working for them. i have no doubt Macau will always get a considerable slice of the gaming market, but what will we look like if we don’t succeed in diversification? Yes, we will become less attractive. Las Vegas in the 1980s was able to make the turnaround. We know there’s solutions because we’re able to read all of the Las Vegas literature. There’s a case study there. So it’s a matter of taking and applying it in a Macau context.

IAG: Tell us a bit about the Irish Bar and the Irish Coffee House. Does every business you open have to be so green?

GM: The irish cultural mix is a very strong brand and irish bars are known globally as a place of fun and a pint in a good environment. When i arrived i was surprised to see Macau didn’t have an irish bar so after a year i opened my own. i knew that when people leave work they want to go somewhere offsite for a nice coffee or beer. Will i continue to open green things? i think that’s probably enough in my spare time now to keep me busy.

IAG: What do you like to do in your spare time?GM: i used to run a lot. i did ten marathons here and each time would aim for a personal best. now i have two children, aged one and two, so i spend a lot of time with my family. Before Macau i studied Long choo Dragon Fist Kung Fu in Hong Kong. A few years ago i took it up again and now i’m going for my second dan. Recently we did a Sunday training session with staff from casinos and they loved it. Several of them want to start their belts. i’m a great believer in sports.

I have no doubt Macau will always get a considerable slice of the gaming market, but what will we look like if we don’t succeed in diversification? yes, we will become less attractive.


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What has happened to triads in Macau since the turf wars of 1996-97? Steven Ribet looks at the role they still play in the city’s junket industry.

how he did it,” says Peter Zabielskis, an Assistant Professor at the University of Macau.

Laypeople paid more notice to Lo’s claim, repeated in media reports, that “ViP-room operations are still dominated by triads to date.” To be in the business, he said, “triad reputation and power is a crucial factor in winning the trust of casino management.”

Many industry experts agree with Lo’s claim that gangsters play a central role at the heart of Macau’s pillar casino industry. china’s anti-corruption crackdown has delivered them a setback. But some experts still say they remain too big for the government or casino operators to be willing or able to ban.

At new York’s John Jay college of criminal Justice, Professor Henry Pontell points out why gaming and gangsters make natural partners. “The world of gambling offers a portfolio of anonymous expenditure,” he says. “casinos are perfect for laundering money; for having anonymous types of funds dispersed. Organized crime has always been drawn to that.”

Oxford University criminologist Federico Varese says the main role mafias play in society is to regulate illegal markets. For casinos that means supplying the sex and drugs that can often go with gambling sprees. Most importantly for Macau, triads organize the flow of money out of china and into the city’s ViP rooms; the money

Invisible Players The daylight execution of three gang

members on the city’s main drag in May 1997 marked the height of Macau’s pre-handover triad wars.

By Steven ribet

T He Hong Kong criminologist T Wing Lo raised eyebrows in February when he published a new paper in the British Journal of criminology, on triad involvement in Macau’s casinos.

Academics were impressed by the report’s methodology. Lo did not get his information from talks with police, as is usual in such papers. instead his research took the form of interviews with no fewer than 17 triad members. “it’s the first paper that has gotten that much verbatim transcript. it’s amazing to me


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that has for many years generated around three-quarters of Macau’s gross gaming revenue.

Triads created the ViP room system. in 1970 when Stanley Ho’s Sociedade de Turismo e Diversoes de Macau (STDM) opened the casino Lisboa under a monopoly concession from the Macau government, gamblers flocked to see the largest hotel-casino in Asia. Ferry tickets became scarce at crowded piers either side of the Pearl River Delta. That created an opportunity for organized scalping. Obviously this was not good for either the ferry operator or casino, both of which were owned by STDM. So Stanley Ho hit on an idea to co-opt the scalpers.

His solution of allowing the triads into his casino to sell “dead chips” (chips that cannot be cashed-in and are initially given as loans to customers) still forms the basis of the ViP room system. Under the arrangement, a dead chip dealer bought dead chips from the casino at a 0.7% discount before selling them at face value to a gambler he befriended. The gambler would eventually replace the dead chips with regular cash chips he won. At this point, the dead chip dealer offered to exchange his cash chips for more dead chips. Generally the gamblers would agree for the sake of the relationship and because it made no difference to the gambler. “chip rolling,” as the process is called, is still the basic revenue measure ViP rooms use for tax and commission accounting.

competition to find gamblers in Macau pushed triads and their associates into expanding overseas to recruit customers in the 1980s. in effect they became marketing agents for STDM, laying on transport to Macau and hospitality for gamblers at their own expense. To compensate them Stanley Ho made a second innovation. That was to allow them to set up ViP rooms; essentially their own private mini-casinos inside his properties, with a larger share of the total take.

in the 1990s Portugal started winding down its control of Macau ahead of the territory’s return to china. Governance became weak and the police corrupted. Open war erupted for control of the lucrative junket trade, with murders carried out on the city’s busiest streets in broad daylight. Lo says the business in the decade “was effectively run and self-regulated by triads.” For those who would dispute this, it’s hard to imagine how non-criminals might have stayed in the game.

But after china regained sovereignty in 1999 the triads dropped out of view. Macau now has one of the lowest rates of violent crime in the world. “i have been here more than seven years. i heard a story about a body hung up in front of the police department when i first

competition to find gamblers in Macau pushed triads and their associates into expanding overseas to recruit customers in the 1980s. In effect they became marketing agents for StDM, laying on transport to Macau and hospitality for gamblers at their own expense.

The notorious Wan Kuok Koi: leader of Macau’s 14K triad society, he was jailed for 14 years in 1999.


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citizens, so i think the situation has been largely under control in the underworld and by the police,” he says.

But that’s not the same as saying there are less triads in the ViP room sector. A 2013 report by the US-china economic and Security Review commission stated, “Public media and intelligence sources have affiliated all but one of the seven ViP Room operator groups of interest with reputed Asian organized crime figures.” in 2010 new Jersey’s regulator refused MGM a gambling license because of the operator’s Macau joint venture with Stanley Ho’s daughter Pansy. The reason it gave was Ho family links to organized crime. For the same reason, Singapore demanded Malaysian operator Genting end all dealings with Ho before it could open a casino in the city state.

Sonny Lo identifies two trends in triad activity in Macau since 1999. First, the gangs have reverted to an earlier convention agreed on with Stanley Ho; that they keep a low profile and don’t make open trouble. “To achieve the goal of money-making, they do not wish to scare off customers,” says T Wing Lo in his paper. “The junkets do not often use violence to fight for territories and collect debts, mainly because their triad backgrounds provide a reputation for violence that reduces the actual use of violence in extra-legal governance.”

According to Lo, casinos are eager to work with triads of reputation because then nobody will dare to make trouble. Maintaining order inside ViP rooms is good for business. As one Macau citizen puts it, “You need insurance whenever a considerable amount of money is involved. A high roller will choose a junket that’s well connected to be confident he is protected.”

in 2002, the Macau government passed junket legislation, laying down rules for an industry that under Stanley Ho had been unregulated. To a large extent this was to satisfy the need for incoming American operators Wynn, Sands and MGM to operate under US-style regulations; a requirement demanded of them by their own government. Henry Pontell says the main effect of this was to create an extra layer of operations between the triads and casinos. “As soon as they tack on a new regulation a new company or something else springs up to push back from the regulatory control,” he says. “Organized crime will always find regulatory holes. Whenever a government adds regulations there will be openings for organized crime to exist.”

The second trend Sonny Lo identifies has been expansion of triad networks into china. “On the one hand triad activities have become

casinos are eager to work with triads of reputation because then nobody will dare to make trouble. Maintaining order inside VIp rooms is good for business. as one Macau citizen puts it, “you need insurance whenever a considerable amount of money is involved. a high roller will choose a junket that’s well connected to be confident he is protected.”

Gambling kingpin Stanley Ho worked with triads before the 2002 liberalization of Macau’s gaming industry. Today, overseas jurisdictions continue to shun casino operators with links to his family.

arrived. But i never heard of triads after that,” says Wang changbin, Associate Professor at the Macao Polytechnic institute’s Gaming Teaching and Research centre. “i don’t think triads are a problem now. Maybe they’re active in some small ViP rooms.”

What happened? Most people interviewed for this article say the incoming chinese let it be known they would stamp on behavior that threatened Macau’s social stability and tarnished its image abroad. “i read there were guns left in the streets because the PLA said they would kill anybody with firearms,” says Henry Pontell. To Westerners this may sound fantastic. But many chinese on the mainland don’t doubt the police are capable of extrajudicial measures.

Sonny Lo, a Professor at the Hong Kong institute of education, says the post-colonial government has done a commendable job of rooting out corruption in its police force. “Since the handover we haven’t seen obvious cases of violence causing the death of


less visible than ever before. But on the other hand, cross border criminal activities involving loosely organized crime groups have become far more prominent,” he says.

T Wing Lo goes so far as to claim that, in the years before Hong Kong’s handover in 1997, the chinese communist Party formed an alliance with triads. it did so, he says, to stop triads working with pro-democracy elements in Hong Kong, to prevent triad threats to the colony’s social stability, and to block infiltration by triads from Taiwan. in 1992 china’s Minister of Public Security Tao Siju remarked that some triad members were patriots and should be respected if they upheld Hong Kong’s prosperity. As further evidence Lo produces a photograph, initially published in Hong Kong’s Next magazine, of Ye Xuanping officiating at a film production center in china the magazine claimed was owned by the Sun Yee On triad society. Ye Xuanping was Vice chairman of the national committee of the chinese People’s Political consultative conference and son of former chinese President Ye Jianying. in the picture he is standing next to Sun Yee On leaders Jimmy and charles Heung.

it is the networks that triads have built up in china that make them so important to Macau’s casino industry. While chinese tourists today account for over 90% of visitor spending in Macau, by law they are each only allowed to transfer at most US$50,000 (HK$390,000) out of the country in a single year. An amount this small might not get a player into a ViP room.

Triads enable the flow of money into Macau that underpins the entire ViP system. The chinese government does not accept gambling debts as legal. So if a gambler takes a loan from a ViP room operator and then refuses to repay it after returning to china, junkets do not have any legal means of collection. Junket

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iAG Asked MAcAu’s JudiciAry police (pJ) to contribute to this article and in response they sent detailed figures on gambling-related crime. “Because of the lucrativeness of the gaming industry, a number of organized criminals have been attracted to operate in casinos, mainly involving usury activities in casinos and casino ViP rooms,” said the department. “Since the liberalization of the gaming industry, they have been keeping a low profile in their operations in casinos, as we have been closely monitoring the operations of triads.”

The numbers show a big rise in loansharking over the past decade; from 208 cases reported in 2005 to 332 in 2014 and 808 in 2015. cases in which the victim was unlawfully detained rose more than fifty-fold between 2005 and 2014, and then more than quadrupled again the next year. The department attributed the rise to changes in the gaming industry. ViP room revenue in Macau fell by 54% between 2014 and 2015. in January this year, AGeP president Kwok chi chung said his members were only able to collect 20 to 30 percent of their debts, compared to 70 percent repaid promptly when casino turnover was at its peak.

While some junket cooperators are clearly resorting more to extreme measures, the PJ says it has improved its methods. casino

patrol teams work together with the force’s case Reporting and emergency Operation centre for more flexible and swift action. Successful cases the department cites include the 2012 arrest of a small gang led by Artur chiang calderon, who were believed to be plotting murder but were ultimately convicted of aggravated assault. in 1999 calderon had been jailed for ten years for triad membership as the right-hand man of 14K boss “Broken Tooth” Wan Kuok Koi. in 2013 the police also busted a loan sharking syndicate that had made loans to some 2,500 victims totaling more than HK$500 million.

2005 2014 2015

Usury (together with unlawful detention) 2 110 463 Usury (without unlawful detention) 206 222 345 Theft 303 582 632 Fraud 115 326 324 Appropriation of property belonging to another 139 526 407

Source: Macau Judiciary Police

Macau Legislator José Coutinho says Macau’s gaming regulator, the DICJ lacks transparency and the VIP room system lacks oversight.


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Gambling tycoon Steve Wynn has

said triads should not be equated

with mafia.

money laundering within the ViP gaming room operations, which are physically conducted within the casinos but remain outside of the casino’s official oversight.”

Starting in 2013, President Xi Jinping’s anti-corruption campaign has delivered a serious blow to the ViP room business. The crackdown has made rich gamblers scared to come to Macau and disrupted the network for transferring their money. it has also damaged triad connections with corrupt local government officials used to collect debt. interviewed in T Wing Lo’s paper, a triad member recalls how recently “a junket collected debt from an official in the mainland but was arrested by the public security, because the official misappropriated public funds to gamble.”

in spite of this, however, the flow of money from china into ViP rooms remains huge. Last year it was still about half of Macau’s total GGR of US$28 billion. Within the city itself, there remains plenty of scope for avoiding oversight. A big loophole in junket legislation is that while ViP room contractors themselves have to be licensed, they can sub-contract to agents who do not.

According to the US government report, “... unlike states such as nevada, where junket operators are subject to in-depth background checks, strict internal control standards, and independent audits that are conducted in ViP rooms, in Macau, obtaining a junket license is a cursory process, and ViP rooms rely on in-house accountants to report on the financial status of their business.”

“i never heard of a license being refused,” says Wang changbin in reference to the work of Macau’s gaming regulator, The Gaming inspection and coordination Bureau (DicJ). “The DicJ is quite is quite closed.”

Macau Legislator José Pereira coutinho agrees. “There is no transparency on that work,” he says. “You are not entitled to information. They don’t give it to anyone, not even legislators.”

iAG gave the DicJ an opportunity to provide information for this article. The Bureau acknowledged receipt of the request, but did not respond before iAG went to press.

José coutinho describes the lack of accounting for money that flows in and out of ViP rooms, and the lack of monitoring of the people that work in them as “a joke.” He says, “casino operators say they don’t know what goes on inside their ViP rooms but of course they’re turning a blind eye. i’m not just talking about one government department. everyone knows about the illegal behavior, but everyone lets it be.”

iAG sought to interview the junket industry group, the Association of Gaming and entertainment Promoters (AGeP), but they could not be reached for comment.

Macau’s Judiciary Police acknowledges that triads operate in the gaming industry. Despite the liberalization and modernization of the industry, why has organized crime proved so resilient?

The uS-china economic and Security review commission’s 2013 report cites a chinese study that estimates “30-40% of all capital moving through underground banking channels is dirty money being laundered.” Macau’s regulatory oversight of VIp rooms, the report says, “remains opaque and prone to substantial abuse.”

“When you go against folks who are essential to the running of the system you run the risk of hurting the system,” says henry pontell. “So enforcement is usually nibbling around the edges, with no systemic change.”

operators run an underground banking system for moving money out of china.

Much of the money flowing into ViP rooms, T Wing Lo says, is there to be laundered, “mainly because of the rampant corruption in china.” The US-china economic and Security Review commission’s 2013 report cites a chinese study that estimates “30-40% of all capital moving through underground banking channels is dirty money being laundered.” Macau’s regulatory oversight of ViP rooms, the report says, “remains opaque and prone to substantial abuse.” consequently, “in Macau there is an even larger risk of


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An obvious reason is that, in gaming or any other industry, an overly zealous enforcement of rules is bad for business. Take the case for a full paper trail for funds flowing into ViP rooms. Strictly speaking nearly all of that money is in a sense ill-gotten, because tax evasion is rampant in mainland china. Rich people there generally pay little or no tax. When they do, it’s common for the government to write and thank them.

On top of this, gambling is generally considered shameful by chinese; behavior they want to hide from relatives and peers. Many prefer the anonymity that comes from using cash. “i don’t think any ViP high roller would want to fill out a form or give bank references or collateral or anything like that,” says Peter Zabielskis.

One junket regulation loophole might be closed by requiring everyone financially transacting with gamblers directly or indirectly to apply for a license, subject to background checks. But there would be problems with this too. First, many cooperators come from mainland china. it would not be easy to get information needed from authorities in their place of origin in order to vet them. Second, gaming promotion is illegal in china. Many junket agents canvass there under the guise of general tourism, or even in secret. Licensing would identify them to the mainland authorities, and subject them to arrest.

in truth, it may well be that triads are too important to gambling in Macau to be gotten rid of. Macau’s gaming industry depends on the ViP room system, which in turn depends on triads. Too many people are making too much money to want to change the setup. A full assault on them might capsize the boat. “When you go against folks who are essential to the running of the system you run the

a big loophole in junket legislation is that while VIp room contractors themselves have to be licensed, they can sub-contract to agents who do not.

risk of hurting the system,” says Henry Pontell. “So enforcement is usually nibbling around the edges, with no systemic change.”

in future, a bigger threat to triads than Xi Jinping’s corruption crackdown would be the legalization of the illegal markets they control. Liberalization of cross-border money flows, in other words, to cut them out as middlemen. The benefits of cash smuggling would be reduced if china fully implemented its tax code. And if Macau’s casinos were allowed to market directly in china and issue credit that was recognized by courts there, the gangsters might ultimately be reduced to loansharking.

Until these things happen, however, organized criminals will likely remain a part of Macau’s casino industry. Steve Wynn seemed to be saying as much when, speaking at a Massachusetts Gaming commission hearing in 2013, he said triads should not be equated with mafia. “experienced law enforcement people will tell you that triad is not a synonym for organized crime,” he said. Triads, in other words, may be too big to be bad.


ESSA, the industry group set up by European bookmakers to combat match-fixing, is trying to rally Asian sports betting operators to its cause.

By Steven ribet

T He Secretary General of the european Sports Security Association (eSSA) Khalid Ali was in Hong Kong and Macau last month looking to recruit

new members. His message was simple: match-fixing is a growing problem and we’re dealing with it. But we need support

ESSA’s Asian Mission

from Asia for what is now a global issue. “We already have one very significant Asian operator, the Hong Kong Jockey club, who we’re very pleased to have on board,” he says. “now we need participation from other bookmakers in the continent.”

The genesis of eSSA is highly instructive. it was formed after the 2005

Bundesliga scandal, in which a German 2nd division referee Robert Hoyzer was found guilty of taking bribes from a croatian syndicate. Germany’s land-based sports betting monopoly Oddset was defrauded of millions. Online bookies like Bwin, however, didn’t lose a penny. “All the bets they took were fully traceable,” says Ali. “You have to prove your identity to open an online gambling account in the eU. Basically what you’re doing is creating a digital fingerprint. Of course criminals don’t like fingerprints.”

eSSA now has 18 members, including Bwin, Bet365, Ladbrokes and William Hill. One of them will immediately alert the others if it notices irregular betting activity. if they all agree something untoward has been going on, they will pass the information on to the relevant sporting authority.

One of the trade association’s most successful efforts to date came from working with the sporting body eU Professional

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Athletes. in 2010 eSSA wrote out a code of conduct on sports betting for athletes for over 50,000 sportsmen and women across the continent (see below). Former players were recruited to go into changing rooms and explain it. The european commission even stumped up two rounds of funding. “Back then a lot of sports weren’t taking the issue seriously. it was down to us to educate athletes about the issue instead of the federations,” says Ali. “We’d love to do something similar in Asia.”

Of course there are limits to what eSSA can do. it’s entirely up to a sporting body to make an investigation once the Association has passed on its evidence. “We don’t actually see what goes on afterwards. That’s something we’ve been asking the authorities to do: give us more feedback,”

cross-border with necessary extradition treaties not in place. it can take a lot of resources to build up a case, and most police forces have higher priorities.”

international political pressure, however, is growing. One manifestation has been the council of europe convention on the Manipulation of Sports competitions, concluded in September 2014 and so far signed by 20 member states. A requirement of the treaty will be that all signatories set up a “national platform” or agency dedicated to combating match fixing, which should enable a much more coordinated and robust international effort.

in April last year the international centre for Sport Security and United nations Office on Drugs and crime announced a partnership to strengthen investigations and prosecutions into match-fixing; a clear recognition that the problem is now global. Asian bookmakers have a clear interest in joining eSSA’s fight. Both sides would benefit from monitoring and sharing their betting information.

So far, says Ali, feedback has been encouraging. “When i spoke at an event in Macau last month they were extremely curious to know more about us,” he says. “A lot of operators we have been speaking to here are looking for an integrity function in their organizations. i think they now realize it’s a requirement of the way they do business.”

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1. Know the rules. Ask your club, federation or athletes association what the rules on betting are in your sport and in your country.

2. Never bet on yourself or the opponent. As a professional athlete you must never bet on any match you or your team is involved in as it would trigger a conflict of interest not compatible with the integrity of sport.

3. play safe – don’t bet on your own sport at all. You are likely to know and be friends with many athletes in your sport and you are therefore best advised not to make any bets on your sport to avoid potential problems.

4. Be careful about handling sensitive information. As an athlete you will have access to information that is not yet available to the general public, such as knowing that your star player is injured or that the coach is putting out a weakened side. You should never swap sensitive information on you, your team or your sport for rewards, gifts or favors.

5. Fixing a competition: an absolute No-No. Whatever the reason, do not seek to fix any aspect of a competition. Do not put yourself in a situation which would bring you, or even force you, to adversely influence the natural course of a match.

eSSa’s code of conduct for european athletes on issues surrounding the integrity of sport and betting

... it has also been difficult to motivate law enforcers. They tend to see match-fixing as a soft, victimless crime, although in truth betting operators are being defrauded. cases are often cross-border with necessary extradition treaties not in place. It can take a lot of resources to build up a case, and most police forces have higher priorities.

says Ali. in the past it has also been difficult to motivate law enforcers. “They tend to see match-fixing as a soft, victimless crime, although in truth betting operators are being defrauded,” Ali says. “cases are often


Hardly a week seems to go by without lawyers working for Las Vegas Sands appearing in court. The company’s biggest legal battle to date is scheduled to begin this summer. In June a Nevada court will hear claims by former Sands China CEO Steve Jacobs that he was fired in 2010 for refusing to commit acts that would violate the US Foreign Corrupt Practices Act. Exactly five years ago we looked at the background to Jacob’s lawsuit and its implications. Given the fireworks we could see in the coming months we thought it was well worth another look.

W Hen litigation and/or criminal investigations become bigger news than a company’s core business activity, a

significant amount of pressure is placed on the people at the top.

Tony Hayward resigned as chief executive of the oil company BP in the wake of the Gulf of Mexico crude spill. Between the time of the accident (claiming 11 lives and blighting hundreds of coastal communities on 20th April last year) and 14th June 2010, the company’s share price almost halved, wiping £50 billion (US$81 billion) off its market capitalisation.

in Japan, Masataka Shimizu, the president of Tokyo electric Power co (Tepco)—the company that brought us the Fukushima nuclear catastrophe—was still clinging to his job at the time inside Asian Gaming went to press. But between the 9.0 magnitude earthquake and accompanying tsunami—damaging the coolant supply to the nuclear reactors—on 11th March and the end of that month, Tepco’s share price fell by

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Sheldon Adelson—“just cause”

Steve Jacobs—claiming wrongful termination


80%. That was its lowest level for 47 years and shaved US$29 billion off the company’s market capitalisation. Few outside that country are expecting Mr Shimizu to make it to his company retirement presentation and proverbial gold watch.

The headache facing Sheldon Adelson, chairman and ceO of Las Vegas Sands corp, is arguably small stuff compared to the blinding migraines experienced by Messrs Hayward and Shimizu, even if it looks bad from the outside.

Mr Adelson’s issue stems from the sacking of Steve Jacobs as ceO of Sands china—LVS’s Hong Kong-listed Macau unit—in July 2010. The company said Mr Jacobs was fired “for cause”—namely alleged unauthorised deals and violations of corporate policies. Mr Jacobs then filed a lawsuit in nevada, alleging that Mr Adelson had ordered him to commit illegal acts in Macau and had also failed to grant him stock options that he was owed. LVS strongly denies the allegations. Mr Jacobs’ accusations did, however, catch the attention of the US Securities and exchange commission (Sec), the financial regulator for new York-listed LVS. The Sec launched an investigation into the nevada suit claims, looking at possible violations of the Foreign corrupt Practices Act, a US law prohibiting the bribery of foreign officials by a US company. The US Justice Department and the nevada Gaming control Board also began examining the matter and in the third week of March the Federal Bureau of investigation (FBi) said it too was investigating. The Hong Kong Stock exchange’s Securities and Futures commission (SFc) rounded off a

maddening March for LVS by announcing on the final day of the month it was launching its own inquiry into Sands china.

According to data in the US business newspaper investor’s Business Daily, from the time of 28th February—the day before LVS’s announcement to the market about the Sec investigation—and the close of business on 18th March, the company’s market capitalisation shrank by 22%. That’s US$7.48 billion in cash terms. The closing stock price on 28th February was US$46.64—market cap of just under US$33.9 billion. The closing price for LVS stock on 18th March was US$36.34—a market cap of just under US$26.4 billion.

But by the time iAG went to press in early April, iBD was reporting that the company’s share price was back up to US$44.84—a recovery of 23.4% on the mid-March low. That seems to support Mr Adelson’s contention that his company’s involvement in Asian casino markets means he is participating in a tide that “carries all boats”—regardless of the fact some boats may experience choppier seas than others.

On 31st March, shares in Sands china, the company’s Hong Kong-listed unit, experienced separately a 6% fall when the company announced Hong Kong’s SFc inquiry. But on 1st April—when Macau’s gaming regulator announced gross gaming revenue for March grew 48% year on year to 20.1 billion patacas (US$2.51 billion)—Sands china’s stock put on 6.1%.

Barron’s magazine recently described Mr Adelson’s great Las Vegas rival Steve

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Wynn as “an investor’s friend” when adding him to its list of the World’s Great ceOs. Long/short hedge funds could equally describe Mr Adelson as an investor’s friend. His willingness to spend a lot of money on infrastructure (up to US$6.8 billion) to capture Macau’s higher-margin mass market gaming customers rather than concentrating on the ViPs (like many of his Macau rivals) arguably offers investors a ‘go-long’ hedge against the uncertainties of the Macau high roller trade and its accompanying junkets. And just as importantly, any investor wishing to short LVS shares in relation to the current investigations by regulators and law enforcement bodies can do so with a clear conscience, knowing that even if the LVS stock takes a hit once the results of the investigations are revealed, it will probably bounce back anyway to the benefit of the entire investment community, carried up on the general tide of optimism surrounding the Macau casino market.

But there are valuation opportunities and then there are risky behaviours—the sort pinned on BP in its management of oil rig safety prior to the Gulf of Mexico disaster. When BP had US$81 billion wiped off its share price, the market was reflecting its dissatisfaction with BP management’s performance, its alarm at the medium term implications for BP’s business prospects in the US market and further afield, and its concern at the cost of the clean-up operation and what that could do to shareholder profits. As of this month, the total compensation and clean-up bill faced by BP was estimated at US$30 billion. if BP and the oil rig owner Transocean had done as recommended by an outside contractor and replaced a faulty blowout preventer on the Deepwater Horizon platform, it could have cost them less than US$2 million, according to one piece of evidence put to a US congressional inquiry.

The recovery in lVS’s share price, post-Sec revelation supports Mr adelson’s contention that involvement in asian casino markets means participating in a tide that “carries all boats”

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Steve Wynn—really more of an investor’s friend than Sheldon Adelson?

Macau’s gaming regulator, the DICJ—legal power to sanction operators


The question some LVS investors are asking is how wise it was for LVS to fight Steve Jacobs’ request for a reported US$7 million compensation after he was sacked as ceO of Sands china in July last year. By the company’s own assessment, the dispute with Mr Jacobs has led directly to regulatory and criminal investigations. The company said in its annual report: “it is the company’s belief that the [Sec] subpoena may have emanated from allegations contained in the lawsuit filed by Steven c. Jacobs.”

Those investigations at the very least risk negatively affecting local goodwill toward LVS—in a Macau casino market worth US$27.2 billion in gross revenue in 2010.

Mr Adelson claims Mr Jacobs’ legal action is “threatening, blackmail and extortion” and says corruption allegations made by Mr Jacobs against LVS and Sands china are “lies”. Mr Jacobs has not responded to Mr Adelson’s statement, but clearly feels he has been unfairly treated by LVS. When positions become hardened in this way it’s hard to reach a compromise without recourse to law—whether the civil or criminal kind. But even if some LVS shareholders are alarmed enough by the situation to question Mr Adelson’s position, it appears unassailable, not least because he and his family own a majority of the LVS stock.

The end game for a casino operator facing any serious regulatory investigation into its business practices is that it can lose its licence. Law 16/2001—the Macau legislation establishing the framework for a post-monopoly market—gives specific grounds on which a casino operator’s concession (or sub-concession in the case of LVS) can be withdrawn.

Article 47 of Law 16/2001 headed ‘Withdrawal due to failure in fulfilling obligation’ states: “1) if the concessionaire

failed to fulfil the obligations as required by related laws or contracts, the government can withdraw the concession. 2) especially any of the following will lead to withdrawal. A) the concessionaire gave up running or stopped running the business without appropriate reasons. B) Violations of this law or other contracts related to its concession. Partial or entire transfer of its operation in interim terms or permanent basis.” Article 48 of Law 16/2001 headed ‘Withdrawal due to public interest’ adds: “1) Whether the concessionaire has fulfilled any of its legal obligations or not, the government has the right to withdraw the concession based on the ground of public interest. 2) in the event of withdrawal on the grounds of public interest, the concession has the right to seek compensation, of which the amount should be based on the remaining time before the expiration of the concession and the investment the concessionaire has already made.”

no one is seriously suggesting Sands china and LVS face the withdrawal of its Macau operating licence because of these events. But the fact LVS—in common with a number of other Macau casino operators—has exposure to several casino markets across the world, makes investors fret that regulatory complications in one market could have implications in others. in the case of LVS, that’s nevada, Pennsylvania and Singapore. MGM MiRAGe (now MGM Resorts international) has already found out how regulatory issues in one market (new Jersey) can have an impact in another (Macau and the company’s joint venture with Pansy Ho at MGM Macau).

And multiple US federal investigations into criminal allegations are hardly something to advertise in lights on the side of your Asian casino properties. in the first

quarter of this year, Resorts World Sentosa, Genting’s casino resort in Singapore, reportedly established a significant lead in terms of volume of ViP roll over LVS’s Singapore resort, Marina Bay Sands— US$20 billion per quarter for RWS versus US$10 billion for MBS. in previous quarters, the properties had been roughly neck and neck in the high roller segment. The sudden lead of RWS could be a function of more aggressive pricing on ViP rolling chip commissions. A

Powerful line up—four bodies investigating LVS business in Macau

Happy ending—IBM’s shares went up after settling Foreign Corrupt Practices Act allegations

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contributory factor could also be that some ViP gamblers would rather not lodge large amounts of money with a casino whose parent company is under close regulatory scrutiny in the US and Hong Kong.

in the situation facing Sands china, investors quite reasonably want some insight not simply into the worst case scenario—loss of the Macau sub-concession—but into the most likely one. not even the US federal bodies involved in the inquiries may be in a position to answer that question at this stage.

it’s unlikely, though, that US investigators will be given free rein in Macau to make on the ground inquiries and interview potential witnesses in the way the FBi led the investigation on the ground into the bombing of the US embassy in nairobi in 1998. The two inquiries are of course not comparable in terms of the gravity of the allegations. The nairobi investigation involved major loss of life for US and Kenyan civilians and military. The wider point is that china is a big, powerful country vying with the US for global supremacy. Kenya is a poor, relatively weak country dependent

on Western goodwill for aid and economic and political stability. There’s no political benefit accruing to china in allowing US investigators jurisdiction on chinese soil. So what we’re left with in that case is a necessarily incomplete inquiry conducted at arm’s length, with the power of subpoena only over US citizens.

ARM’S LENGTHA criminal investigation into Sands china by a body such as the FBi would require the gathering of evidence that would need to be tested in court in front of a US jury. That could be difficult if the inquiry is done at arm’s length, as not all the parties that the investigators might wish to speak to will necessarily be US citizens. evidence gathered by an Sec investigation, however, would not necessarily need to be tested in court. The Sec has the civil power to impose fines on US-listed companies allegedly breaching the terms of the Foreign corrupt Practices Act, without putting those allegations to the test in front of a jury.

As an illustration of the sort of powers available to the Sec, the US Securities

exchange Act 1934, as amended in October 2010, allows for a securities issuer to be fined a maximum of US$2 million for breaching either of two provisions under Section 30A of the Act, headlined ‘Prohibited Foreign Trade Practices by issuers’.

Section a) (2)(A) of the Act forbids “any officer, director, employee, or agent of such issuer or any stockholder thereof” from “influencing any act or decision of such foreign official in his official capacity, (ii) inducing such foreign official to do or omit to do any act in violation of the lawful duty of such official, or (iii) securing any improper advantage,” on behalf of the US-listed company.

As an example of what can happen, international Business Machines corp (iBM), an American multinational technology and consulting firm, recently settled a decade-long Foreign corrupt Practices Act inquiry with the US federal government for US$10 million. The case related to alleged illegal payments and gifts by then employees of iBM subsidiaries to government officials in South Korea and china between 1998 and 2009. iBM did not formally admit or deny the allegations but agreed in a settlement with the Sec to pay US$5.3 million in ‘disgorgement’ (a legal technical term relating to repayment of improperly acquired income); as well as US$2.7 million in pre-judgment interest and a US$2 million civil penalty.

iBM’s gross revenues in 2010 were US$99.9 billion, according to an Sec filing, so the fine represented only 0.001% of annual revenue. LVS’s gross revenues in 2010 were US$7.3 billion, according to its annual report. immediately after iBM settled the Sec case, its stock rose 1.1%, closing at US$155.89 on the new York Stock exchange.

Mr Adelson is 77 years old. His Macau sub-concession technically runs until 26th June 2022, by which time he’ll be 88—only a year younger than Dr Stanley Ho is now. A lot can happen during that time. Under the terms of the agreement with the Macau authorities, however, from 26th December 2017 the government can redeem the sub-concession by giving at least one year’s notice and paying compensation. Given the current growth rate of the Macau gaming market, investors will be hoping LVS spends more time in the business headlines and less time in the news headlines between now and the next Year of the Rooster.

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TECH TALK

As electronic table game play grows in popularity, leading suppliers are improving technology and spinning out new concepts

By Joan Mantini

I T is reasonable to say that the electronic table games market has exploded as more and more casinos turn to these customer-convenient and labor- and cost-saving devices.

The term table game is used to differentiate games such as blackjack, craps, roulette and baccarat that are played on a table with live dealers as opposed to versions

format in Macau and the regulatory issues in certain U.S. gaming markets that make eTGs the only allowable form of table games on casino floors.

Taking a closer looking into the eTG market, interblock commissioned The eTG Player Portrait, its first-ever eTG player segmentation study. This report defines who eTG players are and why they are critical to gaming businesses. The results of this independent study clearly showed that eTG users play more often and longer, they have larger gaming budgets, spend more and are more likely to play games across the entire operation. “These findings reinforce what interblock has been sharing with casino customers: eTGs are crucial to building successful casino revenue streams and that would not be changing” said colleen Stanton global vice president of marketing at interblock.

casinos are also investing in eTG products to help transition their casino

Power PLay

The Fusion eight position Auto Roulette electronic table game

concept from Scientific Games.

of these games played on a mechanical device where no dealer is required. electronic table games (eTGs) are simply just that — a traditional table game that has been converted into an electronic format making it less labor intensive and more convenient for both operators and players. eTGs have been around for a while, but have really taken off recently due to the growing popularity of the


TECH TALK

IGT is currently distributing a line of electronic table game products from LT Game, including its arena-style concept for electronic roulette.

floors toward the next generation of players. “Our experience with online slot play tells us that exposing players to online content helps drive affinity for the games in casinos,” said nick Khin, senior vice president north America sales and strategic accounts for international Game Technology Plc (iGT). “it enables players to experience and learn the games online, and when they come to the casino, they seek out their favorite games.”

A benefit of having eTGs on casino floors is an intimidation-free introduction into the table games sector. Players are able to learn new games at a pace that suits them and without the pressure of making wrong choices in a group environment that can affect another player’s game. “The eTG player enjoys the gaming and entertainment excitement that games such as baccarat and roulette provide,” Khin said. “At the same time, these players enjoy the individualized experience that eTGs provide over table games — a player can choose the amount of games to bet upon and experience different types of games within the eTG environment.”

“The live eTG segment, where iGT is focused with its distribution partnership with

LT Game, offers the chance for operators to also generate increasing productivity through multiple player bets and side bets; it offers players enhanced enjoyment of multiple game choices without having to wait for a game; and it provides incremental players who enjoy the excitement of electronic games but prefer to learn games such as baccarat in a more private setting, in the comfort of their own terminal, at their own pace, with relatively small minimum bets,” Khin added.

it is no surprise that Millennials are at the forefront as the primary players in this relatively new and developing technology. “electronic table game products are attractive to this younger demographic because they have a short learning curve. Players can select bets without distractions and they still love to see the dealers,” said Tom O’Brien, senior vice president, sales – Americas and eTS products, at Scientific Games. “Patrons get to play their favorite table product, whether it’s baccarat, roulette, sic-bo or blackjack, without the hassle of crowded tables, and still have the dealer out in front.”

in response to the growing popularity of eTGs, a number of slot manufacturers have

jumped into this market, either acquiring or making distribution deals with electronic table game vendors to fill out their product lines. Below you will find a few of the latest eTG manufacturers and their latest technology and game types.

IGTiGT is one of the global leaders in gaming, enabling players to experience their favorite games across all channels and regulated segments, from gaming machines and lotteries to interactive and social gaming. The company offers games such as Roulette evolution as part of its M-P Series of multi-player RnG-driven eTG products. As part of its distribution agreement with LT Game, iGT offers live eTGs such as baccarat and roulette in north America.

“eTGs are an important part of iGT’s product portfolio,” Khin said. “The distribution agreement between iGT and LT Game, established in 2014, specified that iGT can distribute games across jurisdictions in the U.S. and canada on an exclusive basis. This provided the unique opportunity for iGT to leverage its sales, service and compliance infrastructures to drive revenues from an incremental product segment.”

The iGT LT Game eTGs can host more games on their system infrastructure than some other offerings in the market. Because the games are network-based, this opens up the possibility for additional popular table games to be incorporated into the eTG, beyond baccarat and roulette. “iGT continues to innovate with its development of popular games that can be deployed in either the live eTG or RnG-driven segment,” Khin said. “With the integration of the games into casino server systems, iGT and LT Game are well-positioned to introduce new content and features into the eTG space. expect more of the popular table games that are prevalent in casinos today to potentially evolve into popular eTGs.”

INTERBLOCKinterblock is known for its luxury player-favorite electronic table games. Twenty-five years of innovations have created a brand that they consider to stand out as unique. “Our business is fueled by one-of-a-kind, patented technologies that deliver unparalleled gaming experiences,” Stanton said. “By continually setting industry standards and providing the ultimate in luxury, interactive


TECH TALK

The Diamond Roulette is one of Interblock’s best-

selling electronic table games

entertainment experiences, we have built a legacy on being first to market with products and technologies that add value to the casino floor.”

Through their product lines Organic, StarBar, Diamond and MiniStar, interblock provides a collection of fully- and semi-automated eTGs and video gaming that covers all the classic and most played casino favorites such as baccarat, roulette, Blackjack, sic-bo, craps, video poker and more.

“electronic table games are the very core of our business and that primary focus is another factor that sets interblock apart from the competition,” Stanton said.

interblock’s best-selling eTG product is its Diamond Roulette, which stands out due to its elegant design with a premium look and feel. it also offers players a variety of engaging features such as exciting side bets, interblock’s Power Meter (a bonus system that encourages and shows player’s how close they are to hitting a target number of games played or dollars wagered to win additional rewards), the visibility of the roulette wheel, Simultaneous Bet Prevention Technology and Mystery Progressives.

interblock stays focused on enhancements that improve user experience and revenue for its customers. “We have developed high-performing,

fully integrated side bet features that enhance interblock’s classic eTG experience,” Stanton said. “Our side bet functionality increases the hold percentage, and our newly developed Simultaneous Bet Prevention technology feature prevents wagers of equivalent value on opposite bets, such as red/black or even/odd.”

“A primary focus for interblock in 2016 will be the introduction of a product segmentation strategy, which is designed to allow every casino to place interblock on their floor—new, innovative technology designed to enhance the player experience, as well as bringing a new level of entertainment to the electronic table game segment,” Stanton added.

SCIENTIFIC GAMESBy combining the game play of traditional table games with the latest technology, Scientific Games’ electronic Table Systems (eTS) creates an exciting gaming experience that maximizes the performance and profitability of the gaming floor.

“Scientific Games is the world leader in table products and electronic table games, and the eTG business is a significant part of our overall suite of gaming and lottery products,” O’Brien said. “We are making investments

in both content and some very exciting hardware

innovation.”An array of eTGs

are also offered

at Scientific Games, including its Fusion products and iTable product line.

company literature states that the Bally Fusion line of products provides an endless variety of gaming options for the casino floor. The new Fusion terminal features a space-conserving footprint, is built for modular configurability and is compatible with SAS, TiTO and all known player tracking systems. The fully electronic Fusion Virtual offers customers the option of playing up to four different games from one terminal. Available games include baccarat, roulette, and sic-bo. Fusion Hybrid offers baccarat, roulette, and sic-bo dealer-podiums equipped with live game results. it’s suitable for stadium-style and smaller environment configurations. Fusion Auto features a fully automated roulette wheel and custom lighting options, along with highly configurable terminal layouts. These Fusion elements connect to live roulette and baccarat games, allowing the capture of overflow play during peak hours.

The iTable product line, which takes the form of a card or roulette table but removes chips in lieu of betting screens embedded into the table top, includes: iTable Roulette, iTable Blackjack, iTable Three card Poker, iTable Ultimate Texas Hold’em and iTable Mississippi Stud. The iTable combines a variety of its patented products to create a new table-game experience for players and casinos alike. Utilizing top-notch technology and touch-screens embedded in standard size tables, iTable effortlessly blends an intuitive electronic betting interface with a live game outcome, according to the company’s website. By automating the betting process, iTable dramatically increases live table-game security, accuracy and speed. The iTable contains versatile software and hardware designed to make it easy for casino operators to update their pit configuration as player demand requires. Following a few simple steps, operators can turn a Three card Poker table into an Ultimate Texas Hold’em table, change table limits, paytables and more. Specialty games utilize an iDeal single deck shuffler to identify the cards that are being dealt. The iDeal interfaces with the table’s software to instantly and accurately resolve all game play once each round is completed. Multiple side bets for each title are available and can be used individually or concurrently depending on casino needs.

InSIDE ASIAn gAMIng APRIL 201636


Employer Must Read Publications Limited (incorporated in Macau), publisher of Inside Asian Gaming.

Position title Deputy Editor – IAG and WGM.

Reports to Managing Editor – IAG and Managing Editor – WGM.

Salary Range of MOP$18,000 to MOP$23,000 dependent on experience, qualifications and suitability of the successful candidate.

Bonus A very attractive bonus structure is provided.

Medical coverage Basic medical insurance will be provided.

Working location The company has offices located in Central Macau and Central Taipa. The successful applicant will be able to work from home when appropriate, but will generally work from company offices.

Working hours Officially Monday to Friday 10:00 to 19:00, but as needed to achieve the functions of the role. Great flexibility is offered by the company in relation to working hours.

Transportation From home to work and return most days in a chaffeur-driven luxury company vehicle (no Macau buses to catch!)

Public holidays All Macau government public and bank holidays.

Annual leave 1.5 annual leave days per full calendar month worked (18 days per year), taken by mutual consent of the successful candidate and the company.

Sick leave Up to 8 sick leave days per year.

Telephone The company will provide a smart phone and data plan to be used for company business.

Languages required Fluency in oral English and Cantonese and able to write in English and Chinese.

Experience At least one year of experience in a role involving journalism and/or professional writing is highly desirable but not essential.

Qualifications A tertiary degree in Chinese, English, communications or journalism is highly desirable but not essential.

For more information please contact Andrew W Scott at [email protected].

WE’RE HIRING A DEPUTY EDITOR

Sick of your current employer?looking for a change? come join our fun-loving dynamic team!

TRAINING AND MENTORSHIP

• Asappropriatetothesuccessfulcandidate,ahighleveloftrainingand mentorship will be provided to the successful candidate by the Managing Editors of WGM and IAG.

ESSENTIAL SKILLS AND ATTRIBUTES

• Abletowriteprofessionallevelmagazineandwebsitecopy.• Excellentorganizationalskills.• Abletoworkcollaborativelyandharmoniouslywithotherstaff.• Abletoconfidentlyattendpressconferencesandotherevents

representing the company at such events and asking appropriate questions (with guidance and training).

• Theabilitytoworkwithanextensivecontactlistofmanythousandsof contacts.

• Anoutgoingpersonalitywiththeabilitytobuildgenuinelywarmrelationships over time.

• Basiccomputerskills:MicrosoftWord,PDFs,email,etc.

DESIRABLE SKILLS AND ATTRIBUTES

• Abasicunderstandingofcasinosandgaming.• AnexistingnetworkofcontactsamongstMacaulocalbusinesses.• Videoproductionskills.

DUTIES

• AttimespubliclyrepresentInside Asian Gaming and/or WGM.• WriteprofessionalmagazinelevelcopyforInside Asian Gaming and

WGM in one of English and Chinese and create a good quality first draft translation in the other language.

• Manageanddeveloprelationshipstomaintainandbuildthecompany’s extensive industry contact list.

• Assistwithotheroperationalactivitiesasrequired,forexamplewithconferences and events.

• Anyotherdutiesasnecessaryfromtimetotime.



“At Scientific Games, we see new technologies as a big advantage for eTGs,” O’Brien said. “We are utilizing our eTS games on our newer MOJO cabinets in different variations of our Fusion products. This will allow us to offer the latest and greatest technology as well as side bets, progressives and skill-based games. For example, Fusion Auto Roulette brings traditional roulette to a fully configurable, live-action layout. A beautiful, color display board offers the latest statistics on table happenings and a camera displays the live ball drop on-screen.”

in a recent press release, Scientific Games announced new products for its electronic table systems portfolio, including a French version of Tablemaster Fusion Blackjack, which transports the fast-paced excitement of live table gaming to a fully electronic platform; and a cutting-edge version of Fusion Hybrid that is connected to iTable Roulette.

“The eTS market is the fastest growing segment in the gaming industry today,” O’Brien said. “While the segment is not new to overseas markets, it has yet to mature in north America. We believe the category will continue to grow due to the many advantages it offers to the players and operators, and Scientific Games is accommodating that growth with exciting new products never seen before on the gaming floor.”

TANGIAMO ABTangiamo AB is the manufacturer of the successful MultiPLAY electronic table game

products, that allow players to share a single large touch surface for betting, resulting in a more social gaming experience.

Tangiamo’s MultiPLAY platform combines the experience of live table gaming with the latest advances in touch screen technology, according to online product descriptions. By merging traditional table games with a full-sized, multi-player betting surface, the MultiPLAY platform keeps the core essence of live gaming that players enjoy while delivering the benefits of electronic gaming, such as increased profitability and reduced time between games.

Tangiamo’s innovative Touch iD technology enables the MultiPLAY Quad HD to sense screen touches and at the same time identify the user. Players are able to enjoy the same experience as a traditional casino table with up to seven players interacting on the same playing surface, each with their own player menu. in addition, the MultiPLAY system can support an unlimited number of configurations. The MultiPLAY Quad HD is also compatible with some of the leading single-player terminals in the market, further increasing the number of potential players.

The MultiPLAY HD can be equipped with an automated or virtual roulette wheel, and with bill acceptors, ticket printers and card readers at each position. The result is a powerful 24 hour-a-day live roulette platform that requires no dealer or inspection.

Due to its smaller 55-inch LcD screen and innovative industrial design, the MultiPLAY

Scientific Games’ Table Master Fusion uses video dealers to simulate the action and atmosphere of a live table game.

Tangiano displayed versions of its MultiPLAY electronic table games at the recent ICE show in London.

HD takes up far less space than a traditional gaming table. it is an ideal solution for smaller casinos, game halls and arcades; and can

also be equipped with a virtual, on-screen wheel rather than a mechanical

roulette wheel.Tangiamo’s award-

winning innovative dice recognition technology brings a one-of-a-kind

experience to electronic gaming. combined with an

ultra-high resolution camera, the MultiPLAY system is able to both

project a live image to the playing surface of normal-sized dice and

recognize the result.Previously distributed exclusively

through TcS John Huxley, Tangiamo’s products are now distributed by Tangiamo directly, and by a network of selected local distributors in certain countries.

Tangiamo unveiled its new crystal Roulette table with exceptionally small footprint and revolutionary technology featuring transparent display at the 2016 ice gaming show in London. “Through the use of cutting-edge display technology, Tangiamo crystal Roulette provides a solution with much smaller footprint than any other multi-player roulette on the market,” said Mats nordahl, ceO for Tangiamo in a prepared statement. “At the same time, players are moved closer to the roulette wheel, resulting in a much more involving and exciting player experience.”

Reprinted with permission of Casino Journal

TECH TALK


Big Game Promoters

“We will then help them prepare the required documentation. if it’s not all legal and correct the gaming regulator will throw it out.” in the eyes of the UK’s Gambling commission, in fact, any gaming operator that sponsors British sport is advertising its products to UK citizens. To do so requires a UK gaming license. And to get one the operator will have to submit a full plan of business.

Applying for a gaming license is always a convoluted process. in the UK, the regulator will want to know all about the owners of the Asian iGaming operator; the source of

Why would an Asian bookmaker wishing to sponsor a football club in England have to convince the authorities there it is not facilitating terrorism? Steven Ribet talks to Equiom’s Head of eBusiness Peter Greenhill

I F there’s one thing Asians are more passionate about than gambling it’s english Premier League Football. Punters from Jakarta to Seoul wager huge sums on UK matches. So the

best place for an Asian online bookmaker to advertise is, you’ve guessed it, on the team shirt of an english Premier League club, or the hoardings surrounding its football pitch. The Makati city-based operator dafabet, for example, is the Main club Sponsor of Sunderland Fc, and the Official international Gaming and Betting Partner of everton Fc.

Given the high value of such agreements you might think the process of completing them would be simple, expedited by a UK government eager for much-needed export earnings. Far from it. Peter Greenhill advises Asian iGaming outfits on such deals for the tax and licensing consultancy equiom. As he explains, getting that much-prized ad will require them to go through the knotty process of setting up a full blown business in Britain, often with its headquarters on the isle of Man.

“companies come to us with a concept about what they want to do,” says Greenhill.

their wealth and its history of operations. They will conduct a full investigation into its gaming software, which has to be certified as not crooked. They will need to know its customers are fully protected. That’s where the offshore jurisdiction of the isle of Man comes in.

The self-governing crown dependency has some of the world’s most rigorous online gaming regulations. it requires complete segregation of gamblers’ funds from an operator’s business expenses. This goes further than the mainland UK, which trusts

iGAMING IN DEPTH

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The same goes for companies thinking about setting up a shell company in Mann. The UK is bringing in a so-called “Google tax.” More formally known as “diverted profits tax”, it aims to end multinationals’ rampant use of offshore havens for tax avoidance. A similar move is now underway in the OecD under the concept of “base erosion and profit shifting” or BePS. equiom will therefore advise that iGaming operators set up a “permanent establishment” in Mann. That means having enough directors there to hold board meetings and make key

decisions; not just a brass plaque with few or no staff behind it.

To place a simple ad, then, requires that Asian online bookmakers go through an arduous and elaborate procedure of licensing and office establishment thousands of miles away. Yet when clamoring punters across the continent see the Premier League players on TV, walking onto the field before the match with the company logo emblazoned on their chests, those same Asian iGaming operators undoubtedly feel it has all been worthwhile.

operators themselves to return funds in customer accounts if they go bust. Because of Mann’s level of player protection, a lot of iGaming companies have their servers there for customers in gray markets (countries where online gaming is unregulated) as well gamblers in the UK. Mann’s very low tax rates also make it a good location for any internet company, which may have no need to be near its customers. So much of equiom’s work will be optimizing overall corporate structure.

A big part of the gaming license application will be KYc. not to be confused with fried chicken, this stands for Know Your customer; the requirement that an operator is verifying the identity of all of its account holders. On top of this the operator will have to satisfy the UK regulator it is not selling into black markets (countries which have outlawed online gambling like

“companies come to us with a concept about what they want to do,” says Greenhill. “We will then help them prepare the required documentation. If it’s not all legal and correct the gaming regulator will throw it out.”

Singapore) and has full controls in place to prevent money laundering and the financing of terrorism.

Of course the iGaming operator might be tempted to submit a dummy business plan it had no real intention of implementing. But Greenhill says this will not cut it. “You will be regularly reviewed about your activity against your business plan,” he says. “if you’re not making progress towards your targeted number of customers, you will be asked some very hard questions and may well have your license revoked.”

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Manila casinos used to launder Money in huge cyber-TheftThe Philippines is considering tighter legislation after its casinos were used to launder most of US$81 million stolen from Bangladesh’s central bank in one of history’s largest cyber-thefts. At a special Senate committee public hearing convened to probe the incident emmanuel Dooc, a lawyer for the Philippines Anti-Money Laundering council (AMLc), criticized “gaping holes in our laws.” The head of the Philippine Securities and exchange commission Teresita Herbosa meanwhile said her office would push for current rules to be expanded to include the country’s casinos.

The thieves first stole codes belonging to Bangladesh’s central Bank by hacking into its computer system. Then on February 4 and 5 they used the codes to transfer the money from the bank’s account with the Federal Reserve of new York to four accounts opened under false identities with the Rizal commercial Banking corporation (RcBc) in Manila. After this the money was converted into pesos, withdrawn on February 9 and used to buy untraceable chips at three casinos.

Banking secrecy laws hampered the Senate hearing, preventing the RcBc even from disclosing details of the dummy accounts. The AMLc said one billion pesos (US$21 million) of the money was deposited with a chinese-Filipino junket operator Kim Wong, who said he was handling it for two chinese high-rollers Gao Shuhua and Ding Zhize. The AMLc is now coordinating with the chinese government to find Gao and Ding. it is filing charges against Wong, who has returned US$4.63 million and denies wrongdoing. The rest of the money has vanished.

The Philippines revised its existing anti-money laundering law in 2013. At the time, however, lawmakers and the country’s gaming regulator Pagcor successfully argued against including casinos on the grounds that doing so would deter investment. This month a report from the US State Department labelled the Philippines casino industry as “a weak link” in the country’s Anti-Money Laundering regime.

Macau’s former prosecutor General charged with corruptionMacau’s former top prosecutor Ho chio-meng was arrested and charged with fraud, gaining illegal economic advantage, power abuse and document forgery. The city’s commission Against corruption (ccAc) said that between 2004 and 2014, while Ho was Prosecutor General of the Public Prosecutor’s Office, he and former colleagues took at least MOP$44 million in kickbacks in return for awarding construction projects worth MOP$167 million. Ho held

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Sands china Introduces employee transfer Scheme

Macau’s biggest casino operator Sands china unveiled an internal transfer scheme for its employees amid falling industry recruitment and concerns about layoffs. According to a company press release “My Way”, as the program is called, will offer 1,000 gaming team members training and transfer to non-gaming positions at Sands china properties in work including food and beverage, security, business development, wardrobe, guest relations, housekeeping and facilities.

The scheme will be voluntary, Sands says, with participants working in their new roles for two or three years, with the option to return to their original positions at 30 days notice, or remain in their new jobs upon completion of the program. So far, the company said, 1,200 local team members have shown interest, with more expected.

“Sands china is pleased to offer this latest career development opportunity for its local team members,” Senior Vice President of Human Resources Antonio Ramirez was quoted as saying. “This is our latest effort to invest further in them, providing new opportunities to broaden their career horizons with new skill sets, training and experience – all while supporting Macau’s diversification and growth as a world center of tourism and leisure.”

Talking to local media, however, Vice President of the labor group Forefront of Macao Gaming Lei Kuok Keong said his members feared layoffs from the table dealer sector, as the city’s 21 month-old gaming slump was putting pressure on operators to cut costs. While casino dealer positions in Macau are reserved for permanent residents of the city, the government’s Statistics and census Service recorded a 4.4% drop in such jobs in 2015, with no vacancies in the fourth quarter. industry-wide, only 376 new employees were hired over the three months, down 81 percent from the same period in 2014.

Sands operates three casinos in Macau, with a fourth due to open this year in november, and employs 27,000 staff in gaming and non-gaming positions. in recent months several other gaming operators have also introduced schemes to allow casino staff to move to non-gaming jobs. The Macau Special Administrative Region’s unemployment rate is an exceptionally low 1.9%.


the top post from the territory’s return to chinese sovereignty in 1999 until 2014, when he was seen as a possible challenger to Macau’s chief executive Fernando chui. Under Portugal he also served as the ccAc’s Deputy High commissioner.

Talking to reporters, the current ccAc commissioner Andre cheong said his investigation only concerned Ho’s alleged misconduct regarding tenders and did not relate to decisions about who to investigate while Ho was Prosecutor General. Lawmakers reacted with incredulity. “We do not believe that the judicial duties were not affected,” said the new Macau Association’s Jason chao, before describing the alleged sums involved as “embarrassingly low” by Macau standards. “if you can bribe Ho with MOP$44 million then his official duties could be bought as well … The implication is just terrifying because what’s being compromised is the integrity of investigations.” President of the Macau Lawyers’ Association Jorge neto Valente said the case, and decision not to look into Ho’s main duties as prosecutor, were “shaking society’s confidence in the legal system.”

The affair is the biggest corruption scandal to hit Macau since Secretary for Transport and Public Works Ao Man-long was sentenced to 29 years in jail in 2009 for taking bribes of more than MOP$32 million.

chinese police swoop on poipet-based iGaming fraud

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chinese police busted a cambodia-based internet scam that used the brands of Macau casinos to target online gamblers in china. According to the Guangdong Provincial Public Security Department, the fraud conned more than 1,000 victims in 11 chinese cities out of 140 million yuan (US$21.5 million). Over 1,000 officers, including 150 dispatched to cambodia, arrested 180 suspects across china and 38 more in the cambodian Thai-border town of Poipet.

The scam used servers in Poipet, and the brands of Macau operators Grand Lisboa, Galaxy and Venetian Macao, to host fraudulent chinese-language casino websites, said police. Some featured human dealers filmed via live video streams. customers were approached via promotional text messages detailing a voice-over-internet call line for customer services. Once they had completed registration, fake representatives coaxed them into transferring money into private accounts to buy chips. The criminals then allowed them to make small wins, followed by quick and easy withdrawals, to induce them into making large deposits. Further bets were then rigged for the customer to lose everything, after which all communication ceased.

The arrests made in china spanned 18 provinces, according to chinese media. cambodian police worked with visiting chinese officers to detain the suspects in Poipet, said mostly to be from the province of Fujian, and then fly them back to china. Also in Poipet in early March, a similar joint operation netted over 100 chinese nationals running a non-gambling online scam that targeted victims in china. Details of the swindle were not given. But such schemes in the past have involved perpetrators calling chinese citizens, claiming their bank accounts have been compromised, then advising them to transfer funds into supposedly safer accounts.

Shortlist drawn up for takeover of laos casino resortSix bidders have been shortlisted for the acquisition of the Laos casino resort, Savan Vegas Hotel and entertainment complex. They are: Macau Legend Development, a Hong Kong-listed operator with casinos in Macau and plans to build a casino resort in cape Verde; iao Kun Group, a nASDAQ-listed operator of junkets in Macau and Australia; a consortium led by the Malaysian slot manufacturer RGB international; Hong Kong-based casino operator Silver Heritage Ltd; Groupe Lucien Barriere, a French operator which also has casinos in Switzerland and egypt; and US investment firm PGP investors.

The resort is in Savannakhet, a province that shares borders with both Vietnam, where casinos are closed to locals, and Thailand, which bans casino gambling completely. A prospectus document describes the facility as including “a full-service casino, a hotel and numerous leisure offerings.” it was previously controlled by Sanum investments Ltd and Lao Holdings nV. But the Laos government seized control of operations and last October appointed the US-based investment firm San Marco capital Partners to organize its sale. Last June newspapers in the US commonwealth of the northern Mariana islands reported police in Laos were conducting a criminal investigation into the boss of the parent company of Sanum investments and Lao Holdings. He was named as John K Baldwin, principal and chief executive of Bridge capital LLc, and is accused of bribing Lao officials over US$300,000 to terminate an audit on Savan Vegas, costing the government US$70 million in lost tax revenue.

San Marco said the Laos government had approved its shortlist based on factors including “financial capability and operational expertise.” The winning candidate will be granted a concession to operate the resort for 50 years.


Melco/hard rock, Nagacorp and Bloomberry as final bidders for cyprus Ircyprus has shortlisted three bidders to build its first integrated casino resort, which the country’s Ministry of energy, commerce, industry and Tourism says will be “the leading icR in europe and among the best in the world.” They are: nagacorp, the Hong Kong-listed cambodian casino operator, which wants to build in Lanarca; Melco/Hard Rock Resort cyprus international, a venture of Macau’s Lawrence Ho and the US-based Hard Rock international, which wants to develop in Limassol, and Bloomberry Resorts corporation, the operator of Manila’s Solaire Resort & casino, which is eying Paphos. All three locations are cities on the island’s south coast.

The winner should be announced by September and will be awarded a 30-year license with the possibility of competing licenses being issued after 15 years. in return for being allowed to operate 100 gaming tables and 1,000 slots, the successful bidder will have to build at least 500 hotel rooms. Other amenities are not compulsory, although the government has suggested conference, meeting, and convention facilities; paid for and complimentary attractions; sports venues and facilities; recreational amenities and entertainment venues, in a project that should open in 2019. The winner will also be able to build 4 satellite casinos; with three offering only slot machines and a fourth featuring table games.

After legislators in nicosia voted in favor issuing the country’s first casino license last July, eight bidders expressed an interest. Among them, reportedly, was a consortium including Donald Trump’s Trump Organization LLc of Manhattan, navegante of Las Vegas and Aktor of cyprus. The final three were chosen based on their experience of building and operating successful casino resorts.

cyprus’ economy has been in desperate need of a boost since the iMF and european central Bank bailed out its banks in 2013 and its national debt was downgraded to junk. casinos in the Greek-controlled south are illegal, although they operate freely in the Turkish-controlled north and Un “blue zone” dividing the country.

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No end for atlantic city’s Woesnew Jersey’s twin legislative chambers approved a referendum on a constitutional amendment to end Atlantic city’s gambling monopoly and allow two new casinos in the state’s north close to new York city. Atlantic city itself, meanwhile, edged closer to government shutdown amid an impasse over the city’s finances, with state governor chris christie warning opponents “not to play chicken.”

The state referendum will be held in november. Proponents of the new casinos say they will increase new Jersey’s overall gaming tax revenues, with up to one third of contributions to be made available for Atlantic city’s regeneration. Yet critics complain the specifics of the new arrangement will not be legislated on until after the ballot. These details include specifying the tax rate levied on the new gambling halls (perhaps as much as 50% of gross gaming revenue, compared to 9.25% now paid in Atlantic city), together with who will pay for their necessary infrastructure. A Rutgers-eagleton poll showed only 44% of new Jersey residents would vote yes, with 49% saying they oppose casino expansion.

in the nearer term, Atlantic city will have to shut down non-essential services if the state does not provide it with a loan before mid-April. Mayor Don Guardian has been pushing for an aid package with measures to extract more tax from Atlantic city’s casinos. Without it he says the city will be forced into bankruptcy, which analysts say could hurt the credit ratings of municipalities across the state. christie says he will not support the package without a state takeover of Atlantic city’s finances, allowing Trenton to sell off city assets and break contracts with public sector unions. “i will not permit politicians in the state to blackmail the people and taxpayers of new Jersey,” he said, pointing out that Atlantic city’s government spending is nearly three times that of new Jersey’s biggest city newark.

Atlantic city’s gambling industry collapsed after states neighboring new Jersey allowed casinos of their own, starting with Pennsylvania in 2006. Since then the resort town’s annual casino revenue has fallen from $5.2 billion to $2.5 billion. in 2014 alone, four of its 12 casinos closed, and last year Atlantic city’s housing foreclosure rate was the highest in the country.


Online gambling king charged with insider tradingThe securities regulator of Quebec said it was filing insider trading charges against the ceO of the online gaming giant Amaya, David Baazov. He is accused of influencing Amaya’s stock price and aiding trades ahead of its June 2014 takeover of the world’s largest online poker website, Pokerstars. Baazov, who is also Amaya’s largest individual shareholder, denied the charges and the company board said it was backing him.

Suspicions were aroused when hundreds of investors bet heavily on Amaya’s stock ahead of its US$4.9 billion takeover of Pokerstars. At the time it was a minor online gambling company, struggling with losses, debts and a slumping stock price. Yet in spite of this its shares more than doubled in price ahead of the acquisition, which was paid for in stocks and cash. Pokerstars had two years earlier bought its main competitor Full Tilt Poker. Through its subsequent takeover, Amaya became the biggest online gambling company in the world.

The regulator, Autorite des marches financiers (AMF), said it was alerted by two whistleblowers before it raided Amaya’s offices in December 2014. Along with Baazov, it has also charged Amaya manager Benjamin Ahdoot and a Toronto business associate Yoel Altman with insider trading and improper influencing of a stock price. The AMF also announced it had executed search warrants and obtained cease trade orders against 13 other individuals connected to mergers and acquisitions involving Amaya.

Pokerstars, which is based in the isle of Man, recently managed to launch in new Jersey, a state where online gambling is regulated. The operator had been trying to re-enter the US since 2011, when federal prosecutors shut down its operations there, alleging it was violating federal bank fraud and money laundering laws.

e-gaming bets surge past soccerThe online bookmakers Bwin said that in the first 66 days of this year the bets it took on which team will win the 2016 League of Legends World championship were more than those placed on the outcome of this year’s UeFA champions’ League. On current trends it is predicting the volume of gambling on the e-gaming tournament will surpass the football tournament’s total by 60%.

Bwin is an Austrian-based operator with over 20 million customers in 25 core markets. Last June it started offering bets on e-gaming contests and since then turnover has exploded, with two-thirds of the total since then taken in the last two months alone. Tournaments in

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League of Legends, which is a multiplayer online fantasy battle game, have been the most popular object of e-gaming wagers, making up 69% of Bwin’s total. Second are tournaments in the shoot-em-up game counter Strike, which get about 10% of all the bookmaker’s e-gaming bets, followed by the games Dota and Starcraft.

e-gaming has surged in popularity over the past decade. Thousands of tournaments are now staged worldwide each year, with final contests filling the world’s largest stadia to capacity. Professional e-gamers earn seven-figure salaries and are granted athlete visas to enter some countries. Some universities even award e-gaming scholarships. League of Legends is currently the world’s most popular e-game, with more than 27 million people playing it daily.

The second defenestration of Steve Wynn?Steve Wynn’s control of Wynn Resorts is under threat because of new legal action taken by his ex-wife. in a filing in nevada state court, elaine Wynn is accusing him of “reckless, risk-taking behavior” that could harm the company and subject it to legal challenges. Ms Wynn owns 9.8% of the company, while Mr Wynn owns 11.8%. An agreement signed at the time of their 2010 divorce gives him voting control over her shares and stops her from selling them. Last year he won shareholder approval to have her kicked off the company board. if the court agrees with her allegations of corporate misgovernance and she gains the right to sell her shares, it could leave Steve as Wynn Resorts’ third largest shareholder behind two institutional investors, effectively ending his control.

The combined 21.6% Steve Wynn now effectively controls enables him to hold positions of both ceO and chairman and to run the business as he sees fit. in addition to two casino resorts in Las Vegas and Wynn Macau, Wynn Resorts’ biggest ever project, the US$4.1 billion Wynn Palace in cotai, is scheduled to open in June this year. A further project under planning in the US, the US$1.7 billion Wynn Boston Harbor, has made shareholders anxious given competition from proliferating gaming halls in America’s northeast.

The Wynns and Japanese pachinko king Kazuo Okada founded Wynn Resorts in 2000. Their combined ownership of 35.6% of voting shares in the company gave them unassailable control. But in 2012 after a falling out, Wynn Resorts forcibly bought out Okada’s 19.7% stake at about 30% less than the market price, in exchange for a commitment to pay him US$1.9 billion after ten years. if Wynn is ousted it will be a replay of 2000, when he was forced out of the company he founded in 1973, Mirage Resorts, following a hostile takeover by MGM.


Events Calendar

www.asgam.com

5|7 april 2016iGaming North america 2016Planet Hollywood Resort & Casino, Las Vegas, USA

The iGaming north America conference is a unique networking and educational event designed to facilitate and cultivate the convergence of land-based and online gambling industries in north America. Our aim is to provide a cost-effective networking environment that helps foster understanding regarding the impacts of existing and potential regulated internet gambling in the U.S. and canada and provides critical information regarding the players, resources, legislative framework and topics that are important to all of the parties that comprise the important commercial gaming segment. With the surge in activity at both the state/provincial as well as federal levels, we welcome all of the operators, consultants, vendors and suppliers focused on the north American audience.www.igamingnorthamerica.com

27|29 april 2016Global iGaming Summit & expoHyatt Regency San Francisco, San Francisco, USA

established as the leading event focused on the future of iGaming in north America, GiGse attracts over 700 delegates to examine legislative progress, commercial strategies and partnership opportunities for all the key stakeholders to enter iGaming and achieve first-mover advantage in this lucrative market currently undergoing a significant regulatory change on a state-by-state basis.www.gigse.com

17|19 May 2016 Global Gaming expo asia The Venetian Macao, Macau

G2eAsia is the premier Asian trade event and the largest regional sourcing platform for global gaming and entertainment products. G2e Asia services suppliers by enabling them to showcase new products, meet qualified buyers and establish new contacts. Annually, more than 95% of the top Asian casino operators attend the show. Held in Macau, the heart of Asian gaming, G2e Asia is the hub where professionals network and conduct business.www.g2easia.com

31 May|2 June 2016IaGa International Gaming SummitWestin Dragonara Resort, St Julian’s, Malta

The international Association of Gaming Advisors (iAGA) will hold its 35th annual international Gaming Summit with the Gaming Regulators european Forum (GReF). As a premier event that brings together leaders from all global gaming sectors, this jointly held Summit will provide operators, suppliers, attorneys, investors, bankers, regulators and other advisors with an unparalleled opportunity to meet and discuss the top issues and challenges facing gaming today. www.theiaga.org/2016-gaming-summit

9|11 august 2016australasian Gaming expoSydney Exhibition Centre, Glebe Island, Sydney, Australia

Featuring more than 200 exhibitors across 17,000 square metres of exhibition space, the Australasian Gaming expo is easily the biggest event of its type in Australia and one of the world’s biggest. Visitors have long acknowledged that the world’s best and latest gaming and hospitality equipment is on show at the expo for gaming and hospitality executives, from around the region.www.austgamingexpo.com

27|29 august 2016Global Gaming expo Sands Expo and Convention Center, Las Vegas, USA

G2e is the world’s largest gaming event where gaming executives, buyers and industry professionals meet each fall to conduct serious business. it’s gaming’s most in-depth source of new products, networking, ideas and information. it takes place in the laboratory of the industry, Las vegas, where you can see it in action and have fun doing it. G2e showcases more than 600 exhibitors, over 100 conference sessions, exciting special events and F&B at G2e, the only F&B event for the gaming industry. www.globalgamingexpo.com


http://www.igamingnorthamerica.com/

http://www.gigse.com/

http://www.g2easia.com/

http://www.theiaga.org/2016-gaming-summit

http://www.austgamingexpo.com/

http://www.globalgamingexpo.com/

Inside Asian Gaming

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Transcript of Inside Asian Gaming