In January, the 49-year-old founder and chief executive officer of casino junket Suncity Group Ltd., Alvin Chau, was indicted for fraud, criminal association, money laundering, and illegal gaming. Some 20 other people were indicted for the same crimes. 

While the former CEO was not convicted of money laundering at the Court of First Instance, he was sentenced to a total of 18 years in prison in aggregate. He was acquitted of fraud charges along with a few other defendants, thus getting rid of the obligation to pay HKD8.67 billion ($1.08 billion) to the Macau government as well as several casino operators in the city.

Now, according to a ruling from the Court of Second Instance issued at the end of last week, the sentences for nine defendants have been maintained in relation to proxy betting, illicit gambling, under-the-table betting, and criminal association. Mr Chau’s prison sentence has also been confirmed. 

Aggravated Money Laundering Charges

The former Junket King, along with Suncity Group’s head of finance department, Philip Wong Pak Ling, were convicted on charges of aggravated money laundering. The two, together with seven other defendants, were told they would need to pay a compensation of close to HKD25.51 billion ($3.25 billion) to the Macau government for gains drawn from illegal forms of gambling as well as from the profits they generated through money laundering activities.

According to the most recent court ruling, the group ruled by Mr Chau obtained little over HKD17.66 billion ($2.25 billion) in illicit gains from “under the table” betting, and around HKD7.21 billion ($921 million) from proxy betting. Together with Mr Wong and Cheung Ling Ling, the founder of the group allegedly obtained profits of nearly HKD617.0 million ($78 million) and CNY17.0 million (US$2.3 million) in profits using money laundering.

In January, Ms Cheung was acquitted by the lower court. Now, the Court of Second Instance sentenced her to five years in prison for her role of co-conspirator in relation to the said charges of money laundering. Ms Cheung, who was controlling Suncity Group’s assets, had also received a prison sentence in Wenzhou, mainland China, in a process connected to allegations regarding the same group. 

In September 2022, Wenzhou People’s Intermediate Court fined Ms Cheung CNY800,000 ($112,700) and sentenced her to spend seven years in jail for illegal business operations and the “establishing casino” crime. At the time, Ms Cheung accepted the sentence and said she would not ask for an appeal.

Finally, the sentences of four of the defendants were cut from 15 to 12-and-a-half years, according to last week’s ruling. The defendants are still allowed to appeal to Macau’s Court of Final Appeal.

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The leading provider of innovative iGaming content that has produced over 1,000 exclusive titles and an iconic, record-breaking network of progressive jackpots, Games Global, has fresh and exciting news. 

The supplier with a massive distribution channel that currently services more than 900 worldwide gaming brands has launched the King Millions jackpot, once again proving its supremacy in the progressive jackpot landscape. 

The GRAND Jackpot Can Trigger €30M+ in Cash Prizes

The new jackpot is the supplier’s biggest network jackpot so far and it allows players to double the chance to win massive prizes with two different jackpots capped at €1 ($1.1 million) and €2 million ($2.2 million) respectively. 

The GRAND Jackpot is capable of triggering over €30 million in prizes, breaking yet another record in the industry. The fresh network jackpot can drop at any moment during the base game. 

A bonus wheel with win multipliers ranging between 7x and 100x the bet can also pop up, along with the MAJOR and GRAND jackpot variants.

The “Highly Customizable” King Jackpot to Meet All Customer Needs

The King Jackpot can be easily adapted to meet customer needs, enabling operators to differentiate their offerings.

Since it will be intertwined with the iconic 9 Masks of Fire slot and other equally popular titles, the progressive jackpot is expected to turn into “a huge hit with operators and players alike,” according to the company’s chief product officer, Andrew Booth.  

Booth further explained the new product is an excellent addition to Games Global’s current library, further showing the provider’s increased focus on creating market-leading jackpot games with highly-popular series like Mega Moolah and WowPot! on top of the list. 

The CPO also took the opportunity to express excitement for the company’s ability to constantly push the boundaries with special emphasis on their jackpot products while acknowledging their “strong reputation” as a leading supplier in the jackpot field. 

The jackpot created by the supplier that delivers force and direction to the iGaming universe has been created “specifically to raise the bar on progressive jackpot slots” with a top prize pool over the €30 million ($33 million) mark before a drop and eight-figure amounts that have never been seen before on the market.

As explained by Games Global’s chief executive officer, Walter Bugno, the company “has embarked on a journey to become the one” name that suppliers, employers, and partners will have in mind when thinking about the iGaming industry. 

Last May, Games Global purchased Microgaming’s distribution business and online games portfolio. In December 2022, the supplier inked a partnership with OROS Gaming, a fresh studio and developer.

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Everi Holdings Inc., a major provider of casino gaming products and services, has agreed to purchase certain assets of Video King, a top provider of integrated electronic bingo gaming devices and systems for $59 million. The acquisition is expected to be immediately beneficial to the company’s earnings and cash flow.

Video King Licenses in 60 Jurisdictions to Benefit Everi’s Games Segment

The acquisition of Video King will provide Everi with complementary assets and an established customer base to foster growth in its games segment. Video King is currently licensed in about 60 jurisdictions and is expected to expand Everi’s player-popular digital gaming content. 

Video King is to enable around 20% of its existing portable e-gaming tablets to offer traditional bingo games, Class II video poker, slots, and instant win games, as well as a digital wallet and loyalty products to players, subject to meeting regulatory requirements.

In 2022, Video King earned over $25 million in revenue, mostly from the recurring revenues generated by an installed base of more than 50,000 portable electronic bingo tablets, which are deployed across tribal casinos, commercial casinos, military bases, charitable bingo halls, and cruise lines. Additionally, the company made revenue from the sale of traditional bingo equipment and consumables.

Video King Acquisition Set to Enhance Everi’s Games and Fintech Solutions

Everi CEO Randy Taylor said the company had successfully executed acquisitions that have grown its product capabilities and markets served in recent years. The acquisition of Video King will help elevate Everi’s current games, FinTech, and digital solutions with and adjacent to its established customer base, providing another lever for growth. 

Tim Richards, Everi executive vice president, chief strategy and digital officer, said Video King provides Everi with an expansive new channel to deploy its growing catalog of digital iGames while enhancing the player experience by incorporating its digital wallet and loyalty products, and adding a new source to generate recurring revenue.

Richards further added: “We see a significant opportunity to collaborate with the Video King team to develop new gaming content and play enhancements to optimize player engagement and drive increased customer traffic.” 

Everi Holdings Inc. is a publicly-traded company that provides technology solutions for the gaming industry. The company is headquartered in Las Vegas, Nevada and is registered with the New York Stock Exchange. It offers a diverse range of products and services, including slot machines, financial technology solutions, loyalty systems, and other gaming-related products. Everi’s client base is global, with the company serving customers in the United States, Canada, Europe, and Asia.

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The latest player to be named is also the first British player, Mark King, who has been suspended over a game he played against Joe Perry and lost 4-0 in February at the Welsh Open

King Becomes First British Player Suspended in Recent Match-Fixing Case

King’s name is lumped together for the time being with that of 10 Chinse players who are also facing match-fixing charges and other offenses. His suspension comes with an official confirmation by the World Professional Billiards and Snooker Association (WPBSA) which released a statement on the matter.

According to the press release, the organization’s chairman, Jason Ferguson, has made a decision to suspend King from attending or participating in the World Snooker Tour with immediate effect. The suspension announcement also came with a clarification:

The suspension will remain in place until the conclusion of the investigation or any subsequent charges that may or may not be brought.

WPBSA statement

Perry, though, has not been accused of wrongdoing and said that he was surprised to hear that the WPBSA would open an investigation. In his opinion, King was simply having a bad day at the table, not so much losing on purpose.

He further added that like any top-ranking player, King is prone to have his good and bad days. Perry said that he himself had bad streaks and found it hard to rally from some of those. However Perry noted that King did have a gambling addiction, but to the best of his knowledge, the man had been able to keep it at bay and stay away from gambling.

Every Player Has Their Bad and Awful Days

“I hope it comes to nothing, I hope it’s just a coincidence and it comes to nothing. I’d hate to see any truth in it,” he concluded. The first reports of suspended players began at the start of the year, with a number of Chinese players named in the first offenses. Their numbers have since swelled to 10 suspects.

While King may have been involved in some strange betting patterns, this does not mean that the man did anything purposefully. There is no clear statement as to how King would have even known the other players and what he would have done to connect with match-fixers in the first place. All of this will be answered during the investigation.

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