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Macau casinos expected to invest around $12 bln over next 10 years...

Oct 10th 2023, 3:00 am
Posted by romeocolli
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Last month, DailyMail.com reported that more than a dozen employees of Resorts World and the MGM Grand had been subpoenaed as part of the investigation into the gambling ring run by former minor league baseball player Wayne Nix, according to a person familiar with the matter.

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The seven applicants, which include incumbents Sands China , Wynn Macau, Galaxy Entertainment, MGM China, Melco Resorts and SJM Holdings , as well as new entrant Genting Malaysia, are competing for six slots.

Negotiations with the Macau government are almost complete the broadcaster said, with the bidders having reached agreement about what each of them proposes to do over new 10-year licence term which begins in 2023.

The bidding for new licences comes as China's "dynamic zero COVID" policy has hammered casino revenues over the past two years, and despite some relaxation of travel restrictions for mainland visitors, gambling revenue is unlikely to pick up in the near term, say analysts. ($1 = 8.0740 patacas) (Reporting by Farah Master; Editing by Kenneth Maxwell)

Malaysian group Genting is a credible threat that could unseat an incumbent Macau operator for a new licence, prompting the industry's biggest potential shakeup in more than two decades, analysts and executives say.

In recent weeks, federal agents from California visited Resorts World Las Vegas (above) in connection with their widening probe of the sports betting ring operated by former minor league baseball player Wayne Nix, two people familiar with the matter told DailyMail.com

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Nevada gaming laws prevent casinos from working with any convicted illegal gambler. The Nevada Gaming Control Board said in February that Sattler's allegations were unsubstantiated, and cleared Sibella of wrongdoing. 

HONG KONG, Nov 14 (Reuters) - Macau casino operators, vying for a licence in the world's biggest gambling hub, are expected to invest a total of around 100 billion patacas ($12.4 billion) over the next 10 years, local broadcaster TDM reported.

'So look at this, nobody wanted to believe me, and look what happened,' Sattler told DailyMail.com in a text message. 'This piece of s**t is out on the streets, and Resorts World needs to issue a public apology to me.'

Federal agents are specifically looking at allegations that employees used comps and promo chips to pay off personal gambling debts to Nix, the Nevada Current first reported, and sources confirmed to DailyMail.com. 

According to court filings, the Nix betting ring operated at the highest levels of professional sports, with former pro athletes acting as bookies, and clients including an MLB coach, active NFL and MLB players, an NBA player's business manager, and a sports broadcaster.

The shakeup comes six weeks after DailyMail.com reported that federal agents from California had visited Resorts World in connection with their widening probe of an illegal sports betting ring that catered to MLB and NFL players.

Sources say the federal probe is examining the possibility that current or former Las Vegas hotel employees acted as agents in the betting network, or paid off their own personal gambling debts to Nix with casino resources.Fr Abraham Rizk | HisVine

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