The gambling and betting industry is complicated, especially when we talk about the process of setting up new casinos. The rules in each country can be a lot to keep up with. And, not to mention, they are always changing and amending. This makes it pretty challenging to stay current. Given this complexity, we’ve broken down the key points of this week’s betting news to make it easier to understand. If you want to learn about other updates, you can check out https://news.22bet.com/ for more news.
Betting News in Singapore
New laws for Singapore casino gamblers and operators were introduced on Sept 10.
Key changes include:
- You can no longer withdraw bets after the results are announced.
- Recording non-card games is also banned.
- Breaching family visit limits will be a crime once the changes take effect.
Sun Xueling, noted that casino-related crime remains very low. Just 137 cases were reported at Marina Bay Sands and Resorts World Sentosa in 2023. These changes update the Casino Control Act to keep up with the industry’s developments.
Patrons who exceed family visit limits at casinos won’t face legal consequences until amendments are introduced. From 2010 to 2023, around five people per year broke these limits.
When the new law is officially implemented, those who don’t follow may be jailed for up to a year or fined up to $10,000. The limit is meant to help families affected by a gambler’s behavior.
People under exclusion orders, like undischarged bankrupts or those on social assistance, will also face stricter rules. They can be charged if they know—or should reasonably know—about their exclusion.
Minors lying about their age or refusing to provide details will now have to face fines. Only those 21 and older can enter Singapore’s casinos. In the past five years, 2-4 minors per year tried to enter using fake ID.
Under new regulations, casinos can collaborate by sharing patron information to address money laundering and terrorism financing. Previously, they could not do this without consent, slowing action. The Gambling Regulatory Authority oversees this exchange, but it’s been too slow, said Ms. Sun.
Several MPs Show Support of the Bill
Ms Sylvia Lim (Aljunied GRC) supports lowering the threshold for casinos to do customer checks. Right now, casinos must check if they pay out $10,000 or receive $5,000. The new rule lowers this to $4,000.
She said proper enforcement of anti-money laundering measures is key, and casinos must update systems and train staff.
Ms Ng Ling Ling asked if probation, not fines, is better for minors caught trying to enter casinos with fake IDs. She worries families might end up paying the fines.
Ms Sun responded that fines deter serious offences and courts will consider probation depending on the case.
Betting News in Japan
Japan is expected to open its first casino by 2030. Osaka IR, the operator behind the casino, has given up its right to withdraw from the project. At first, they could have backed out if tourism did not return to normal or if financial issues arose, but they can’t do this anymore.
Osaka IR is a joint project between MGM Resorts and Orix, each owning 40%. Panasonic and West Japan Railway are also involved. People expect construction plans to begin soon. They aim to open the casino sometime in 2030. MGM Resorts has not yet shared any comments about the project.
The project is facing challenges. Originally set to open in 2029, the resort’s launch is now delayed to fall 2030 due to government approval issues.
Rising construction costs are another problem. The total cost has jumped from JPY 1.08 trillion to JPY 1.27 trillion.
The resort is expected to make JPY 520 billion each year, with most of that coming from casino operations. Developers aim to attract six million international visitors and 14 million local visitors annually. As a result, it just might be Japan’s largest tourism projects.
The resort is also part of Japan’s plan to boost its economy post-pandemic. Given its location and population, experts believe it has great potential if executed well.
Public Concerns and Challenges
Japan’s first casino faces public skepticism. In 2020, 64% of people polled wanted the project paused. To limit gambling, the government set a JPY 6,000 entry fee for locals. However, tourists do not have to pay this fee.
Casinos were once illegal, but a 2018 law changed that to attract more tourists. Despite high hopes, the casino will compete with established resorts in Macau, Singapore, and the Philippines. Countries like Thailand are also considering legalizing casinos.
Betting News in the United States
Norfolk City Council has decided to let Boyd Gaming take charge of the casino project next to Harbor Park. The vote was 7-1, with Councilwoman Andria McClellan voting no. Her concerns from 2019 have not changed regarding how gambling affects vulnerable communities.
The Pamunkey Tribe, involved in the project, believes Boyd Gaming will help deliver a world-class resort.
Emerging Trends and Future Prospects
Technology is becoming more important, with new systems improving security and customer service. There’s also a stronger focus on responsible gambling, with stricter rules to help prevent addiction.
According to current trajectories, more casino resorts will open in new markets like Japan and the US. All of these will have the aim to boost tourism and local economies. Online gambling and sports betting are also growing, creating new opportunities and challenges. Staying updated on these trends is important for anyone in the industry.
Public Reactions and Market Impact
People have mixed feelings about new casinos. In Japan, many are worried about gambling addiction and its effects on communities. Supporters believe that casinos can boost the economy by creating jobs and attracting tourists.
In the U.S., communities also balance the pros and cons. Projects like the one in Norfolk raise concerns about safety and neighborhood impact. Still, some think these projects can be good for local economies if managed well.
Knowing these public opinions can help us understand the future of casino development and rules.
