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Industry
October 7, 2024
Bronx Man Goes to Prison After Shooting Two over Pool Gambling Loss
A young man who lost money gambling on a pool game and shot two people was sentenced to nearly two decades in prison. The incident dates back to December 2022 when two people were shot at a pool hall at Port Jefferson in New York. Violent Criminals Will Be Held Accountable for Their Actions An […]
Industry
October 7, 2024
UAE Awards First Commercial Gaming License to Wynn Resorts
In 2023, Wynn Resorts, the leading gaming, hospitality and entertainment operator, began the construction of its ambitious project in the United Arab Emirates (UAE), Wynn Al Marjan. Now, the company reached a major milestone after securing the first commercial gaming license in the jurisdiction. Wynn Received the License After Extensive Review The license was awarded […]
Industry
October 7, 2024
Brazil: Sports Betting Faces Ban If Addiction Is Unchecked
Brazil is among the countries that legalized sports betting back in 2018. Despite legalizing the activity, the country never launched its betting market as lawmakers failed to establish the required regulations for years. On the bright side, Brazil now aims to launch legal betting in January, after politicians finally focused on the issue. Yet, the […]
Industry
October 7, 2024
Study Reveals IRS Faces $1.5B Tax Loss Due to Unreported Gambling Winnings
A fresh study shows that many gamblers not reporting their winnings has led to the IRS missing out on almost $1.5 billion in taxes from 2018 to 2020. TIGTA Report Reveals Major Tax Shortfall as Thousands Fail to Report Gambling Winnings The Treasury Inspector General for Tax Administration (TIGTA) found that thousands of people did […]
Industry
October 4, 2024
Brazil Gambling in Healthy State Ahead of Regulated Market Launch
A new study, prepared by LCA Consultoria Econômica and commissioned by the Brazilian Institute of Responsible Gaming, shines new light on how gambling affects Brazilian households. According to the report, while Brazil’s sports betting sector records stable growth, its impact on family financial health remains relatively small. New government initiatives should help further reduce gambling […]
Industry
October 4, 2024
Canadian Company Sues Wynn Resorts for Due Diligence Failures
A Canadian company will be taking Wynn Resorts to court for allowing a big time con artist to gamble with stolen money. The plaintiff is seeking damages, alleging that Wynn did not conduct adequate due diligence into the player in question. James Bay: Wynn Did Not Fulfill Its Due Diligence Responsibilities The plaintiff in the […]
Industry
October 4, 2024
JP Morgan Foresees $2.5bn-$5bn Annual Revenue for Bangkok’s IRs
Thailand, a country that strictly bans gambling except for state-controlled horse races and an official state lottery, will soon hit the refresh button in this department thanks to an important preliminary framework from the Parliament endorsed by Prime Minister Srettha Thavisin’s cabinet in April. The daring framework, which included up to five licenses for IRs […]
Industry
October 4, 2024
Massachusetts Orders Bovada to Cease and Desist
Online gambling operator Bovada has been slammed with a cease-and-desist letter, this time in Massachusetts. This development confirmed earlier rumors that claimed the Bay State would be the next to take action against the offshore operator. Bovada Restricted in Yet Another State Bovada, for context, is one of the biggest offshore operators in the US. […]
Industry
October 4, 2024
Gambling Machines Seized in Kentucky, Two People Arrested, Charged
A large-scale operation against illegal gambling and the sale of drugs in Monticello, Kentucky, resulted in the arrest of two young men. Several addresses across the city were searched in the recent police operation. The multi-agency effort included officers with the US Immigration and Customs Enforcement and the Federal Bureau of Investigation. Young Men Arrested, […]
Industry
October 4, 2024
Sweden Mulls Possible Tax Reduction to Fight Scourge of Illegal Gambling
Swedish lawmaker Carl Nordblom has suggested that the country may indeed be forced to lower its gambling tax, giving operators more leeway to offer a competitive offer that should, in theory, enable licensed operators to combat the black market. Lawmaker Suggests Government to Renege on Gambling Tax This suggestion comes only a few months after […]
