A high-profile billionaire property developer from China has initiated legal action against Star Sydney, seeking A$57 million (approximately US$37 million) in compensation for his gambling losses. Phillip Dong Fang Lee, known for his substantial spending at the casino, claims that Star Entertainment exploited his gambling addiction and limited English proficiency, leading him to accumulate massive losses at the baccarat tables. Lawsuit Claims Star Sydney...
Kazakhstan’s Financial Monitoring Agency (FMA) is considering implementing criminal penalties for social media influencers who promote online gambling. This move follows consistent violations of the country’s advertising regulations, which prohibit the promotion of online casinos and betting services. FMA Explores Criminal Liability for Influencers The FMA disclosed that 34 influencers have been identified this year alone for advertising gambling services on social media...
Fantasy sports and sports betting company Underdog has joined forces with Crypto.com to introduce sports prediction markets in 16 U.S. states. The partnership marks a significant move for Underdog, which is leveraging Crypto.com’s financial expertise to launch a product that merges financial trading with sports betting. The goal is to bring more accessible prediction markets to areas where legal sports betting has not yet...
Jeju Dream Tower has reported a significant surge in casino revenue for August 2025, reaching KRW 42.99 billion ($32.2 million), marking a 30.5% increase from the previous year. The integrated resort, which operates under a foreign-only admission policy, also set a new record for visitor numbers during the month, further demonstrating the growing appeal of the destination. Strong Performance for Jeju Dream Tower Casino...
Sweden’s gambling regulator Spelinspektionen has released its annual figures showing that the country’s channelization rate slipped to 85% in 2024, down from 86% the previous year. The decline highlights ongoing challenges in steering players toward licensed operators, despite the government’s long-term goal of achieving a 90% rate. Channelization measures the share of gambling conducted with companies holding a Swedish license,...
The Los Angeles City Attorney’s Office has launched a sweeping civil lawsuit against Stake.us, its affiliated streaming platform Kick, company founders Ed Craven and Bijan Tehrani, and numerous gaming suppliers. Filed in California Superior Court, the complaint accuses Stake.US of running an illegal online gambling enterprise in violation of California’s Unfair Competition Law (UCL), False Advertising Law (FAL), and the Unlawful Internet Gambling Enforcement Act (UIGEA). Lawsuit...
India’s sweeping ban on paid online games has triggered massive changes in the local gaming industry, with Mobile Premier League (MPL) confirming significant layoffs across its India operations. The company will downsize by approximately 60%, impacting around 300 of its 500 employees in departments such as marketing, finance, operations, engineering, and legal. Ban Forces Drastic Workforce Reductions The move follows the government’s recent decision to outlaw...
Wynn Resorts (NASDAQ: WYNN) saw a modest rise in its stock price on Thursday, August 28, after Wall Street analysts signaled growing confidence in the company’s long-term growth. UBS analyst Robin Farley raised the stock’s rating from Neutral to Buy and increased the price target from $101 to $147, citing the company’s ambitious UAE development and strong performance in Macau. Al Marjan Island...
Macau’s casino sector delivered its best performance since the onset of the Covid-19 crisis, with gross gaming revenue (GGR) in August reaching MOP22.16 billion (US$2.76 billion). Data released by the Gaming Inspection and Coordination Bureau (DICJ) shows the figure rose 12.2 percent compared with August 2024, when operators generated MOP19.75 billion. It also edged above the MOP22.13 billion recorded in...
Thailand has been thrust back into political turmoil after Prime Minister Paetongtarn Shinawatra was formally dismissed from office by the Constitutional Court on Friday. The ruling, delivered by a 6-3 vote, concluded that she had committed a serious breach of ethics during a controversial phone conversation with former Cambodian leader Hun Sen. Her removal, just a year into her premiership,...