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slam dunk

Sky City - Malta - Into Money Laundering

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I see Sky City getting is in bed with the Malta money launderers setting up a rogue online gambling casino targeting New Zealanders.

Why is this allowed to happen yet small punters at the TAB are being asked to follow draconian measures all in the name of money launderering.

Sky City has always had politicians in its pockets but I haven't studied the current settup. No doubt Judith Collins with her previous casino oversight roles is right into it. I would say Sky Casino is deeply in with the National party.

Its just a hop and step away from Sky City offering sports betting from Malta.

I see DIA is considering banning the use of credit cards for online gambling in response to the Malta project. This may impact on the TAB being banned from accepting credit cards.

Very murky situation and a disgrace that Sky City will probably be allowed carte blanche gains from money laundering whilst NZ racing administrators sleep at the wheel.

I

 

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Sky City is basically already offering sports betting through a GIG (Gaming Innovation Group) company.

https://www.guts.com/nz/promotions

Sky City can put up a flashy front page featuring NZ Sport.  Therefore can knock NZTAB out of the water with its marketing database of NZ high rollers offering inhouse entertainment 24 hours per day and also offer various promotional packages. Great for GIG, great for Sky City. Depending how grand Sky City want to make their website I doubt the exercise would cost more than $1M because GIG would gain as well.

This would be basic knowledge to anyone in the gambling industry. Therefore given the risk why did Hughes/Allen risk $50M. Regardless of any racing or wagering knowledge this was a huge blunder any average businessman would never have made.

Just baffles belief.

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14 minutes ago, slam dunk said:

Sky City is basically already offering sports betting through a GIG (Gaming Innovation Group) company.

https://www.guts.com/nz/promotions

Sky City can put up a flashy front page featuring NZ Sport.  Therefore can knock NZTAB out of the water with its marketing database of NZ high rollers offering inhouse entertainment 24 hours per day and also offer various promotional packages. Great for GIG, great for Sky City. Depending how grand Sky City want to make their website I doubt the exercise would cost more than $1M because GIG would gain as well.

This would be basic knowledge to anyone in the gambling industry. Therefore given the risk why did Hughes/Allen risk $50M. Regardless of any racing or wagering knowledge this was a huge blunder any average businessman would never have made.

Just baffles belief.

it's all done on purpose..management by crisis

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Sports betting in USA casinos is about to explode. Places like Alexandra Park, Ellerslie, Addington should take note before Sky City get approval.

https://www.radioiowa.com/2019/07/31/casino-managers-anticipate-new-customers-with-sports-betting/

NB.

"Most of the casinos are partnering with outside companies that have experience in online betting. Runde says they also don’t expect a big bottom line impact.

“That’s the word from our company whose done sports betting for a long time in Las Vegas.  Not a lot of profit, but what we all know is there’s mass appeal, mass interest,” Runde says.  “And for traditional casino operators it’s exciting because this opportunity lends new visitors.  It isn’t necessarily that guest that we see every day — this is a new demographic.”

She says they will use the sports gambling to try and get people into the sports book, the restaurants and the casino. “When there’s an event that we can plan around, we will be holding parties in those spaces,” Runde says."

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Yip. Huge competition emerging in the sports betting arena. As indicated above, the casinos are not really concerned about the profit from the sports betting itself which will put huge pressure on margins. The TAB will have to get way more competitive at much narrower margins to compete globally and if the DIA can administer and enforce the consumption charges globally at a cost less than the revenue produced, I'll be very surprised.

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It's Happened!!

https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12257048

https://news.cision.com/gaming-innovation-group/r/gaming-innovation-group-launches-online-casino-with-skycity-in-new-zealand,c2875742

https://europeangaming.eu/portal/latest-news/2019/08/05/51911/new-zealand-internal-affairs-seeks-public-opinion-on-online-gambling/

Interesting whats behind the review. One should note Sky City sponsorship of the warriors and others. I have always maintained NZ Racing should have stuck to their knitting and not expect windfalls from sports betting. Once Sky City gets into it the TAB sports betting is history as far as return to racing is concerned.

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21 hours ago, slam dunk said:

It's Happened!!

https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12257048

https://news.cision.com/gaming-innovation-group/r/gaming-innovation-group-launches-online-casino-with-skycity-in-new-zealand,c2875742

https://europeangaming.eu/portal/latest-news/2019/08/05/51911/new-zealand-internal-affairs-seeks-public-opinion-on-online-gambling/

Interesting whats behind the review. One should note Sky City sponsorship of the warriors and others. I have always maintained NZ Racing should have stuck to their knitting and not expect windfalls from sports betting. Once Sky City gets into it the TAB sports betting is history as far as return to racing is concerned.

Agree. If they lose the pokies as well they'll only have their knitting left and that has unraveled at an alarming rate and continues to do so. How are they going to manage all this to collect the PoC tax? And then there's this, more competition:

The Department of Internal Affairs is currently seeking submissions on a discussion document to introduce a regulatory framework for online gambling, and is considering licensing domestic and overseas operators. As it stands, Lotto and the TAB are the only two state-authorised providers of online gambling in New Zealand.

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