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Singapore has renewed Genting Singapore Ltd.'s casino license for a shortened two-year term due to "unsatisfactory" tourism performance at Resorts World Sentosa. The Gambling Regulatory Authority cited areas needing improvement following a review, with the next evaluation scheduled for 2026. Genting attributed challenges faced during the evaluation period to the global Covid-19 pandemic. Both Resorts World Sentosa and its rival Marina Bay Sands are expanding their offerings to enhance visitor experiences and appeal. [Extracted from the article]

In October, gamblers in New Jersey wagered more money online than in physical casinos for the first time since the pandemic forced closures. Online revenue from table games and slots reached $213.6 million, surpassing the $208.7 million generated by land-based casinos. This shift reflects the increasing popularity of online gambling, with internet play in New Jersey excluding sports seeing a 28% increase from the previous year. Traditional casino operators are concerned about the impact of online betting on their business, while companies like Flutter Entertainment Plc, operator of FanDuel, are capitalizing on the growing demand for online gambling in the US. [Extracted from the article]

Singapore police have ceased their pursuit of 15 individuals involved in the country's largest money laundering scandal, as the suspects have agreed to forfeit $1.4 billion worth of assets. The individuals, all foreign nationals, have been barred from returning to Singapore. The case, which involved illegal gambling and unlicensed money lending in China, has had significant repercussions on the Asian financial hub, with some individuals convicted and others facing ongoing investigations. [Extracted from the article]

The article discusses the rise of gambling addiction in Brazil, particularly among lower-income individuals, following the legalization of online betting platforms. Policymakers are alarmed by the increasing number of Brazilians, including those living below the poverty line, who are accumulating debt to finance their gambling habits. The government is taking steps to regulate the industry, including banning the use of credit cards for betting and monitoring excessive gambling behavior. The story follows the experience of a young woman, Beatriz Azevedo dos Santos, who fell into a cycle of debt due to her gambling addiction, highlighting the devastating impact of unregulated gambling on vulnerable populations in Brazil. [Extracted from the article]

Lui Che Woo, a prominent Hong Kong tycoon known for his success in Macau's casino industry, passed away at the age of 95. He founded Galaxy Entertainment Group Ltd. and amassed a net worth of $14.5 billion, competing with industry veterans like Steve Wynn and Sheldon Adelson. Lui's philanthropic efforts, including a prize for world civilization and donations to Peking University, reflected his commitment to sustainable development and human welfare. His family members are actively involved in his business empire, continuing his legacy. [Extracted from the article]

The French gambling regulator is investigating Polymarket, a cryptocurrency-based prediction market, to ensure compliance with local laws due to increased user activity around the US presidential election. A French trader, known as Fredi9999, placed significant bets on the platform in favor of Donald Trump, potentially earning $48 million. Polymarket, based in New York, saw a surge in trading activity during the election, despite being banned for US users following a 2022 settlement with the US Commodity Futures Trading Commission. Traders on Polymarket use cryptocurrency to buy shares predicting outcomes, with the platform displaying profits based on share prices and payouts. [Extracted from the article]

In October, Macau's gaming revenue increased by 6.6%, reaching a new high since the Covid shutdown, thanks to China's Golden Week holiday boosting tourism and spending. Gross gaming revenue hit 20.8 billion patacas ($2.6 billion), in line with analyst estimates. Despite the surge, revenue remains 21% below pre-pandemic levels in 2019. The city saw a significant increase in visitors during the holiday, with most coming from mainland China, and revenue was further boosted by concerts featuring popular artists. Macau faces regulatory challenges as China aims to curb capital outflow and money laundering, with recent legislation criminalizing unlicensed money exchanges. Former judge Sam Hou Fai was elected as the new leader, signaling a potential shift away from the city's reliance on casinos. [Extracted from the article]

MGM Resorts International's third-quarter sales and profit fell short of expectations due to a decline in Las Vegas betting. While overall sales rose by 5.3% to $4.18 billion, they missed analysts' estimates. Revenue in Las Vegas grew by 1.3%, with hotel room sales offsetting a drop in casino revenue, attributed to a decline in baccarat. The company also reported lower-than-expected earnings in Macau. Additionally, Caesars Entertainment Inc. experienced a decrease in revenue in Las Vegas and its regional casino businesses. [Extracted from the article]

Gambling revenue on the Las Vegas Strip decreased by 1.8% in September, marking the third consecutive monthly decline. The drop was primarily attributed to a significant decrease in baccarat play, with betting down by 22%. Despite this, excluding baccarat, gambling revenue on the Strip actually increased by 7.6%, with slot machine winnings showing a notable rise. Major casino operators like Caesars Entertainment Inc. reported a 2.6% decline in sales for the third quarter, with earnings also decreasing. While Las Vegas remains a key gambling market, companies like Caesars have diversified their business geographically. [Extracted from the article]

Gaming & Leisure Properties Inc. CEO Peter Carlino considered backing Bally's $1.8 billion Chicago casino project but had design concerns. After a redesign, Gaming & Leisure agreed to fund two-thirds of the project's cost, allowing Bally's to proceed with the planned opening in September 2026. The project aims to enhance the customer experience and generate revenue for Chicago, with Gaming & Leisure eyeing potential future deals with Bally's in New York and Las Vegas. [Extracted from the article]

The growth of online casino gambling in the United States has faced opposition, with only a few states allowing residents to bet on casino games online. Some officials are concerned about the social costs of easy access to gambling, including potential job losses and increased gambling addiction. Despite the revenue generated by online casino games, there is ongoing debate over the impact of online betting on land-based properties. [Extracted from the article]

The growth of online casino gambling in the United States has faced opposition, with only a few states allowing residents to bet on casino games online. Some officials are concerned about the social costs of easy access to gambling, including potential job losses and increased gambling addiction. Despite the revenue generated by online casino games, there is ongoing debate over the impact of online betting on land-based properties. The issue remains unsettled as to whether online betting is additive or cannibalizes existing casinos. [Extracted from the article]

UK gambling stocks experienced a decline after a report suggested that Chancellor Rachel Reeves is considering increasing taxes on the industry by up to £3 billion ($3.9 billion). Shares in companies such as Entain, Rank Group, Evoke, and Flutter Entertainment were negatively affected. The UK Treasury is reportedly reviewing proposals from think tanks to double taxes on online casinos and bookmakers. While some analysts believe these potential changes could significantly impact earnings, others consider the report to be unrealistic. [Extracted from the article]

Bankrupt sports broadcaster Diamond Sports Group has received court approval to continue polling creditors on its plan to survive Chapter 11 bankruptcy. The plan involves cutting debt and broadcasting local games for the upcoming NHL and NBA seasons. Diamond is also trying to negotiate new broadcast deals with MLB teams, although the league has announced that it will produce and broadcast games for three teams next season. The future of MLB's relationship with Diamond is uncertain, as the league may challenge the broadcaster's proposed restructuring. [Extracted from the article]

Penn Entertainment Inc., the operator of ESPN Bet online gambling business, has announced that its third-quarter loss from its interactive casino was narrower than previously expected. The online division of the company is projected to report a loss of $90 million to $100 million before interest, taxes, depreciation, and amortization, compared to the previous forecast of up to $135 million. The company attributes the improved results to a more profitable mix of bets and lower promotional expenses. However, the company's physical casinos are expected to report lower adjusted Ebitda due to lower gambling profits in the Northeast US and reduced business in the South due to weather and hotel renovations. [Extracted from the article]

Wynn Resorts Ltd. has received the first commercial gaming operator's license in the United Arab Emirates (UAE) from the General Commercial Gaming Regulatory Authority. The Las Vegas-based casino company is developing a luxury resort called Wynn Al Marjan Island in Ras Al Khaimah, in partnership with Marjan and RAK Hospitality Holding. The resort, which is currently under construction, will have 1,542 rooms, 22 bars and restaurants, and a theater for shows. This project is seen as a significant step for tourism in the region, and other casino operators, such as MGM Resorts International, are also seeking gambling licenses in the UAE. [Extracted from the article]

Wynn Resorts Ltd. has received the first commercial gaming operator's license in the United Arab Emirates (UAE) from the General Commercial Gaming Regulatory Authority. The Las Vegas-based casino company is developing a luxury resort called Wynn Al Marjan Island in Ras Al Khaimah, in partnership with Marjan and RAK Hospitality Holding. The resort, which is currently under construction, will have 1,542 rooms, 22 bars and restaurants, and a theater for shows. This project is seen as a significant step for tourism in the region, and other casino operators, such as MGM Resorts International, are also seeking gambling licenses in the UAE. [Extracted from the article]

Macau's gaming revenue in September exceeded analysts' expectations, rising 15.5% compared to the previous year. The gross gaming revenue reached 17.25 billion patacas ($2.2 billion), returning to 78% of the pre-pandemic level seen in 2019. Despite being lower than the previous month, this increase is attributed to the upcoming Golden Week holiday, which typically attracts more visitors to the gambling hub. While affluent players continue to spend, lower-spending players have shown signs of betting less, although this trend is expected to ease with Beijing's recent economic stimulus measures. Macau reported 3.7 million tourist arrivals in August, reaching pre-pandemic levels for the first time since Covid emerged. [Extracted from the article]

Former Jacksonville Jaguars executive Amit Patel has filed a lawsuit against FanDuel, alleging that the gambling website knew about his addiction and offered him incentives to continue placing bets. Patel, who admitted to stealing over $22 million from the team, claims that FanDuel ignored responsible gaming protocols and targeted him with financial incentives and lavish gifts. The lawsuit seeks over $250 million in damages. This case highlights the increasing issue of gambling addiction following the legalization of sports betting in many states. [Extracted from the article]

Online sports betting apps are more harmful than previously thought, according to a Bloomberg Businessweek article. Professional bettors face challenges in finding places to wager large amounts of money, but they have found ways around this, such as using surrogates or making normie bets to raise their limits. Pro bettors have also started simulating addictive behavior to receive bonus money and keep their accounts open. Studies have shown that online sports betting is driving an increase in rates of irresponsible gambling and causing financial damage to many Americans. State regulators can take steps to curtail the damage, such as leaving casino games to brick-and-mortar establishments and banning practices like assigning VIP hosts to encourage excessive gambling. [Extracted from the article]

A former chief accountant at the National Institute of Hygiene and Epidemiology in Hanoi, Vietnam has been sentenced to death for embezzling over 152 billion dong ($6.2 million). The accountant, Nguyen Hoang, was found guilty of theft between 2009 and 2023 and had hidden his activities by altering financial statements. This case is part of Vietnam's ongoing anti-corruption campaign, which has targeted individuals across various sectors, including high-ranking government officials. Hoang admitted to the charges and stated that the money was used for personal expenses and gambling. Two other individuals associated with the institute were also sentenced to prison for their involvement in the case. [Extracted from the article]

This article discusses the rise of unbeatable poker bots and their impact on the multi-billion-dollar online poker industry. The story follows a group of Russian students who created a highly successful poker bot called "the brain." These bots have revolutionized the game of poker, which was previously considered unhackable due to its complexity and reliance on creativity and strategy. The article explores the challenges of developing poker bots and the consequences they have had on the industry, including the decline in player enjoyment and the need for the game to adapt to this new reality. The creators of the bots are now seeking to create a more friendly gaming environment that matches players with similar skill levels. [Extracted from the article]

China-focused online casinos that flourished in the Philippines during Rodrigo Duterte's presidency are suspected of having strong ties to international crime syndicates, according to Senator Risa Hontiveros. The Senate inquiry into Philippine offshore gaming operators has uncovered connections between these gambling operations and foreign criminal groups. The investigation has also raised concerns about the citizenship of dismissed Mayor Alice Guo, who is accused of involvement in an illegal offshore gambling operation. Philippine President Ferdinand Marcos Jr. has ordered the closure of these online casinos by the end of the year. [Extracted from the article]

Brazil is set to tighten online gambling rules in response to concerns about the financial impact on families. The Finance Ministry will suspend the activities of online gambling companies that have not requested authorization to operate in Brazil, and is also working on regulations to prohibit the use of credit cards for betting and prevent companies from offering credit for gambling. The government aims to address what Finance Minister Fernando Haddad describes as a gambling-related "epidemic" that is causing serious social problems. Brazil legalized online gambling in 2018 and has since become one of the world's fastest-growing gaming markets. [Extracted from the article]

Playtech Plc's sale of its Italian gambling business, Snaitech, to Flutter Entertainment Plc will result in a €100 million windfall for its top managers. The senior team, including the executive directors, will receive bonus awards from the proceeds of the sale, with CEO Mor Weizer receiving the largest share. Additionally, a separate cash bonus pool of €34 million will be paid out to Snaitech's senior management team, with CEO Fabio Schiavolin receiving the most. Playtech shareholders will also benefit from the sale, as the company plans to return up to €1.8 billion in special dividends. [Extracted from the article]

Playtech Plc, a UK-based gambling company, plans to return up to €1.8 billion ($2 billion) to shareholders from the sale of its Italian gambling business, Snaitech, to Flutter Entertainment Plc. As part of this deal, Playtech's senior team, including its executive directors, will receive bonus awards of up to €100 million. The CEO, Mor Weizer, will receive the largest share. Additionally, a separate cash bonus pool of €34 million will be paid out to Snaitech's senior management team, with CEO Fabio Schiavolin receiving the most. Playtech shares slipped slightly after the announcement. [Extracted from the article]

Flutter Entertainment Plc has agreed to purchase Playtech Plc's Italian gambling business for €2.3 billion ($2.6 billion) in cash. Playtech will pay a special dividend of €1.7 billion to €1.8 billion after the deal is completed. Flutter, the owner of FanDuel, has been expanding internationally and sees mergers as part of its strategy to establish a strong presence in local markets. The acquisition of Playtech's Snaitech division is expected to be completed by the second quarter of 2025. [Extracted from the article]

An Islamic party in Malaysia has stated that it would close down the country's only casino if it gains control of the state where it is located. The party, Parti Islam Se-Malaysia, is tapping into concerns among the Muslim majority about gambling, which is forbidden in the Koran. The party already controls four of Malaysia's 13 states and is aiming to capture Pahang in the next national election. The federal government decides on casino permits in Malaysia, and the gaming sector is heavily regulated. The casino in question, owned by Genting Bhd., contributes billions of ringgit annually to the government. The growing influence of the Islamic party has led the Prime Minister to adopt more conservative policies to appeal to voters. [Extracted from the article]

Singapore has made changes to the Casino Control Act, allowing its two casinos to conduct cashless gaming. However, the use of cryptocurrencies will not be permitted. Cashless bets can be made by drawing down virtual credits from cashless gaming accounts or e-wallets. The decision to exclude cryptocurrencies is due to concerns about money laundering risks. This change is part of a series of updates to casino rules in Singapore, including lowering the threshold for checks on cash deposits and transferring the power to approve main shareholders of casino operators to the Minister for Home Affairs. [Extracted from the article]

Singapore has made changes to the Casino Control Act, allowing its two casinos to conduct cashless gaming. However, the use of cryptocurrencies will not be permitted due to concerns about money laundering. The Gambling Regulatory Authority has stated that allowing cryptocurrency as chips for casino gambling poses a risk. These changes are part of ongoing efforts to prevent exploitation by terrorist and criminal organizations. The approval of main shareholders of casino operators has also been transferred to the Minister for Home Affairs. [Extracted from the article]

Former Philippine mayor Alice Guo faced questioning at the Senate regarding billions of pesos that were deposited into her bank accounts, which are believed to be linked to a Chinese online gambling hub. Guo, who was recently arrested in Indonesia, declined to answer questions citing her right against self-incrimination. The investigation into Guo's case has raised questions about her citizenship and led to a ban on gambling facilities targeting Chinese clients. Senator Sherwin Gatchalian questioned the large sums of money that flowed into Guo's accounts and her company, as well as her net worth, suggesting her involvement in the gambling hub. Guo denied any involvement and declined to reveal the sources of her funds. The Department of Justice stated that there are no discussions yet on Guo becoming a state witness. [Extracted from the article]

Philippine authorities have arrested over 150 foreign nationals in a raid on an illegal online gambling hub. The raid was conducted after a request from the Indonesian embassy and resulted in the discovery of three scam farms run by Chinese, Indonesian, and Myanmar nationals. The arrested individuals, including 83 from China and 70 from Indonesia, will be temporarily detained before deportation. The crackdown on illegal online gambling comes after President Ferdinand Marcos Jr. banned Philippine offshore gaming operators due to concerns about crime and money laundering. [Extracted from the article]

Macau's gaming revenue increased by 14.8% in August, surpassing expectations due to higher demand for entertainment during China's summer vacation. Gross gaming revenue reached 19.8 billion patacas ($2.5 billion) for the month, which was 6.2% higher than July and about 80% of pre-pandemic levels. The rise in revenue was attributed to increased travel demand from mainland Chinese tourists, who make up the majority of visitors to Macau. However, the city is also facing a new round of crackdowns targeting money exchangers as Beijing aims to curb capital outflows and money laundering. Macau officials are planning to introduce a provision that could result in up to five years imprisonment for those who exchange or lend money to gamblers without authorization. The city's former top judge has also expressed concerns about the economic dominance of the casino industry and called for diversification. [Extracted from the article]

A former judge in Macau, Sam Hou Fai, has expressed concerns about the dominant role of casinos in the local economy. He believes that the industry has expanded in a disorderly manner and has had a negative impact on the city's long-term development. Sam argues that the expansion of casinos has strained society's resources and limited career choices for young people. These comments come as Beijing cracks down on money laundering and capital outflows in Macau. The current chief executive, Ho Iat Seng, will not seek another term, and Sam is expected to become his successor. [Extracted from the article]

The Metropolitan Police in the UK have decided to end their criminal investigation into whether officials close to former Prime Minister Rishi Sunak placed bets on the timing of the general election. The police concluded that the bets did not meet the threshold for misconduct in public office. However, the Gambling Commission is still investigating whether some individuals violated the Gambling Act by using insider information to place wagers before the election date was publicly announced. The investigation by the Gambling Commission is ongoing, and they have already interviewed several suspects and are collecting evidence. [Extracted from the article]

Resorts World Las Vegas, a prominent property on the Las Vegas Strip, has been accused by the Nevada Gaming Control Board of catering to individuals with ties to organized crime. The board filed a 31-page disciplinary complaint stating that the resort welcomed individuals with suspected or actual connections to illegal bookmaking, federal felony convictions related to illegal gambling businesses, and organized crime. The complaint also mentioned that some of these individuals were under contract with Resorts World. The resort, owned by Genting Group, has not yet responded to the allegations. [Extracted from the article]

(Bloomberg) -- Resorts World Las Vegas was accused of catering to individuals with ties to organized crime in a complaint filed Thursday by the Nevada Gaming Control Board.In a 31-page complaint, the board said Resorts World, a major property on the Las Vegas Strip owned by Genting Group, "welcomed certain individuals with suspected or actual ties to illegal bookmaking, histories of federal felony convictions related to illegal gambling businesses, and ties to organized crime."©2024 Bloomberg L.P.By Rob GolumReported by Author [Extracted from the article]

MGM Resorts International has partnered with Grupo Globo to enter the Brazilian sports and online betting market. Pending approval of their license, the joint venture plans to launch under the BetMGM brand in early 2025, with headquarters in Sao Paulo. Brazil recently passed legislation regulating online gambling, requiring operators to have a Brazilian partner with a minimum 20% stake. With over 20 million active bettors, the Brazilian market is expected to generate $3 billion in gambling revenue this year and is seen as a significant opportunity for growth. [Extracted from the article]

A former Citigroup Inc. employee, Wang Qiming, has been charged with 10 counts in Singapore's largest money-laundering case. Wang is accused of forging documents to deceive Citibank Singapore Ltd. This case has caused concern in Singapore, as authorities have already seized S$3 billion ($2.3 billion) in assets related to the scandal. Several individuals of Chinese origin have already been imprisoned for their involvement in laundering illegal funds, while others are still at large. The Singapore police force is taking a strong stance against money laundering and those who assist in concealing the true nature of assets. [Extracted from the article]

Moody's Ratings has raised New Jersey's outlook from stable to positive, citing the state's strong economic performance compared to neighboring states. The ratings firm also affirmed New Jersey's issuer and general obligation bond ratings at A1, the fifth-highest level of investment grade. Moody's lead analyst Edward Hampton noted that New Jersey's economy is outpacing its mid-Atlantic peers and highlighted the state's repeated appropriations of full actuarial state pension contributions as a sign of strong practices. The positive outlook reflects the prospects for strong economic and revenue performance, which will allow the state to narrow its structural gap and maintain substantial budgetary reserves while making full actuarial pension contributions. New Jersey's overall grade still remains below most other states, with only Illinois being rated lower. [Extracted from the article]

Singapore is preparing to charge two former Chinese bankers in the country's largest money-laundering case. The individuals, who worked as relationship managers at foreign banks in Singapore, allegedly served criminals involved in a $2.3 billion case. Last year, authorities seized assets totaling $2.3 billion and jailed ten individuals of Chinese origin for laundering illicit funds. The Singapore Police Force emphasized their commitment to combating money laundering and stated that those who assist clients in evading due diligence processes or concealing assets will be dealt with under the law. [Extracted from the article]

Shares of Macau casino operators have declined as the city plans to criminalize illegal money-exchange activities, which are commonly used by Chinese players to bypass capital controls. The move is part of Beijing's efforts to crack down on capital outflow through gambling in Macau. While it is unclear how many gamblers use money exchangers in Macau, over 10,000 individuals conducting such businesses were detained last year, indicating significant demand for these services. The crackdown on illegal money-exchange activities is seen as a way to prevent capital flight as China faces an economic slowdown. [Extracted from the article]

The United Arab Emirates (UAE) has awarded its first lottery license, potentially paving the way for the legalization of casinos and other forms of gambling. The license was granted to a company called The Game LLC, which will operate under the name UAE Lottery. While the government has allowed raffle draws in certain locations in the past, this marks the first license issued for lotteries. The move is seen as a significant development and could attract more tourists and investment to the UAE. However, gambling is currently prohibited under Islamic law in the country. [Extracted from the article]

The United Arab Emirates (UAE) has awarded its first lottery license, potentially signaling a move towards legalizing casinos and other forms of gaming. The UAE's General Commercial Gaming Regulatory Authority has granted the license to a company called The Game LLC, which will operate under the UAE Lottery banner. The UAE, where Islamic law is the basis for legislation, currently prohibits gambling. However, the establishment of a federal body to regulate gaming and the potential for increased tourism and investment from China could lead to the legalization of gambling in the country. [Extracted from the article]

Apollo Global Management Inc. has agreed to acquire International Game Technology Plc's gaming division and Everi Holdings Inc. in a $6.3 billion all-cash deal. The merger will bring together IGT's video, electronic table, and Wheel of Fortune games with Everi's Bingo and casino offerings. The newly formed company will be headquartered in Las Vegas and is expected to be completed by the end of the third quarter of 2025. After the sale, IGT Gaming will become a pure-play, global lottery business, and Everi will be delisted from the New York Stock Exchange. [Extracted from the article]

Apollo Global Management Inc. has agreed to acquire International Game Technology Plc's gaming division and Everi Holdings Inc. in a $6.3 billion all-cash deal. The merger will bring together IGT's video, electronic table, and Wheel of Fortune games with Everi's Bingo and casino offerings. The newly formed company will be headquartered in Las Vegas and is expected to be completed by the end of the third quarter of 2025. After the sale, IGT Gaming will become a pure-play, global lottery business, and Everi will be delisted from the New York Stock Exchange. [Extracted from the article]

Philippine President Ferdinand Marcos Jr. has banned online casinos catering to Chinese gamblers due to concerns about crimes such as money laundering. The ban will be implemented by the end of the year, and the president has instructed economic managers to find new jobs for affected employees. The finance secretary stated that the ban will not significantly impact the economy, as the industry has already declined in recent years. The ban comes as the Senate investigates a mayor accused of money laundering through entities with alleged links to the online gambling industry. Marcos emphasized the importance of protecting the country's sovereignty and standing up against transnational criminal elements. He also discussed other topics such as infrastructure development and measures to address the rising cost of living. [Extracted from the article]

Philippine President Ferdinand Marcos Jr. has banned online casinos catering to Chinese gamblers due to concerns about crimes such as money laundering. The industry, known as POGOs, contributes around $170 million annually to the state, but Marcos believes the risks associated with the sector outweigh the economic benefits. The POGO sector grew during the presidency of Rodrigo Duterte, who aligned the country's foreign policy with China. Marcos's decision comes as the Senate investigates a mayor accused of money laundering through entities with alleged POGO links. [Extracted from the article]

The President of the Philippines, Ferdinand Marcos Jr., has announced a ban on online casinos that cater to overseas gamblers, known as Philippine offshore gaming operators (POGOs). This decision comes in response to mounting calls to shut down the industry due to reputational risks and associated crimes. POGOs, which primarily target Chinese gamblers, have flourished during the term of President Rodrigo Duterte. The ban was announced as lawmakers investigate a mayor accused of money laundering through entities with alleged POGO links. The president has instructed the gaming regulator to wind down and cease operations of these gambling facilities by the end of the year. [Extracted from the article]