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SkyCitys bet on offshore online gambling lays bare the crapness of NZs law

But New Zealand’s casino giant appears to have found a workaround.  The Gambling Act, which reads largely as a harm-reduction manifesto, is essentially toothless when it comes to regulating offshore operators, as Internal Affairs minister Tracey Martin told The Spinoff  recently. Thus success for SkyCity in the online arena depends on either the law being changed law or finding a way under the existing rules to take on the competition. And judging by comments yesterday from Chief executive Graeme Stephens, SkyCity is opting for option two. “You’ve got to be pretty globally competent, if you are going into the online space, and we don’t have any of that competence today, so if we were going to do anything, I’m pretty confident it would have to be with a partner at least to start with,” he told Stuff . Notably, because offshore operators are outside of government jurisdiction, they are free to employ all manner of aggressive sales tactics, manipulative deposit incentives and near-ludicrous fund management terms – as detailed the Spinoff’s story on Jackpot City . When the Spinoff asked the minister about the legality of SkyCity’s course of action, Martin said she was unaware of any legal exposure SkyCity would face, and that the company would be free to enter into an arrangement with an offshore provider licensed in another jurisdiction. “This would likely put them on the same footing as any other offshore gambling operator and under current law, New Zealanders would be able to access those gambling products,” she said. In May, SkyCity spokesperson Colin Espiner noted that unlike offshore operators, the company complies with a vast array of legislative requirements, including harm minimisation measures, anti-money laundering legislation, local employment law, company tax laws, gaming taxes and GST in both Australia and New Zealand. But despite Stephens’ insistence that SkyCity wouldn’t do anything “aggressive” in this space, a partnership with an established offshore company would mark a significant shift, making an overhaul of the Gambling Act more urgent. “This is one of the reasons why it is important to look at the regulatory framework for online gambling,” Martin told the Spinoff.

For the original version including any supplementary images or video, visit https://thespinoff.co.nz/society/10-08-2018/skycitys-bet-on-offshore-online-gambling-lays-bare-the-crapness-of-nzs-law/

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Heavy Lifting On Illinois Online Gambling, Sports Betting Has To Wait After Legislative Hearing

Home / US Online Poker / Illinois / Heavy Lifting On Illinois Online Gambling, Sports Betting Has To Wait After Legislative Hearing Heavy Lifting On Illinois Online Gambling, Sports Betting Has To Wait After Legislative Hearing Nicholaus Garcia , Aug 22, 2018 16:52 PDT The Illinois  legislature has set the stage for an October discussion on online gambling and sports betting following Wednesday’s committee hearing in Chicago. The House Gaming Subcommittee heard testimony from various stakeholders on an amendment to Senate Bill 7, sponsored by Democratic Rep. Bob Rita, which would not only bring slots and table games to the state’s three racetracks but also provide casinos with substantial tax breaks. Mark Bennett, president and general manager of Jumer’s Casino and Hotel in Rock Island, Illinois, which is operated by Delaware North, said, while the casino is happy to support video gaming terminals at racetracks, they would prefer it only on “live racing days.” “We support VGT expansion in areas of the state that can support it,” Bennett said. “But not at dormant tracks. We do support other forms of gaming and the elimination of the $2 casino admission tax.” Tom Swoik, executive director of the Illinois Casino Gaming Association, told committee members the association’s position on VGT’s has not changed.

For the original version including any supplementary images or video, visit https://www.onlinepokerreport.com/31929/illinois-online-gambling-discussion-set-for-october/

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