Singapore Casinos & Gambling

The National Council on Problem Gambling (NCPG) concluded the first year of
its second term recently on 31 August 2008, and signals its preparation for the
implementation of the NCPG casino exclusion orders in the coming year.
Said Mr Lim Hock San, Chairman of the NCPG: “The first casino is expected to
open in the third quarter of 2009. We would start receiving applications for casino
exclusion measures by January next year. We hope to minimise the number of
Singaporeans who suffer from problem gambling.”
Under the Casino Control Act, the NCPG has the authority to issue casino
exclusion orders. The NCPG expects to start issuing some 29,000 exclusion
orders next year. Excluded persons will include all undischarged bankrupts and
those on public assistance. Families may also apply for their members to be
excluded if they have a gambling problem. Individuals may voluntarily apply for
exclusion. The NCPG hopes to be able to start receiving applications for casino
exclusions from January 2009.  Continue Reading »

This press release is about a company that is not based in Singapore, but gets alot of its customers from there.  Since online gaming became outlawed in the US, online casino companies are looking internationally for more revenues, especially in Asia.

Online casino developer AsianLogic Ltd has become the first major Internet gaming company to list on London’s Alternative Investment Market (AIM) since a crackdown in the US hit companies such as Sportingbet and BetOnSports last year.

The Hong Kong-based firm was founded by former Playtech executive Thomas Hall and made its initial public offering (IPO) to the London Stock Exchange last week, the first to do so since the passage of the Unlawful Internet Gambling Enforcement Act (UIGEA) in America over a year ago.

The Telegraph newspaper stated that the company floated with a market capitalisation of $245 million after raising $81.17 million to fund its expansion plans, which include capitalising on the massive popularity of betting in Asia and the growing penetration of the Internet.

The company generates three quarters of its revenues from online casino games but also owns a small chain of sportsbetting shops in the Philippines. The majority of its customers are based in Malaysia and Singapore, where broadband Internet access is relatively widespread and gambling laws are more liberal.

‘I’ve been involved in a couple of listings and, in what was a pretty tough market, we got support from a wide range of institutions,’ said Hall, Executive Vice Chairman for AsianLogic.

‘Asia is growing rapidly as a gaming environment both on land and online and we are one of the first major online gaming groups in Asia.’

Press Release

http://www.igamingbusiness.com/article-detail.php?articleID=15711

TheStar.com.my is reporting that 179 lottery scams over the past two months have lured in Singaporeans.  Isn’t Singapore supposed to be home to the wealthy and educated of Asia?

The report blames greed and nativity as the primary reasons that Singaporeans become victims of these online scams.

The majority of the scams come from Asia with emails saying something like “congratulations, you’ve just won…”.  So be advised, ignore anything that sounds too good to be true coming over the internet.

NewsChannelAsia.com reported that 18 people were arrested in Singapore as part of a crackdown on online casinos.

The raid netted 83 computers and 21 slotmachines while hauling in 15 men and 3 women. Eleven of the 18 people have been released without charge.