Latest news with #online gambling
Arabian Business
3 days ago
- Arabian Business
UAE hands over top Chinese fugitive wanted for multimillion-dollar gambling crimes
A top Chinese fugitive accused of masterminding a multimillion-dollar online gambling empire has been arrested in Dubai and extradited to Beijing, in a high-profile operation that underscores the UAE's growing role in the global fight against organised crime. The UAE Ministry of Interior handed over a wanted person to the authorities in the People's Republic of China. The suspect was arrested by the Dubai Police, pursuant to a red notice issued by the International Criminal Police Organisation (INTERPOL). UAE arrest China gambling gang suspect He's considered one of the most wanted individuals by Chinese authorities on charges of running an organised criminal network that operates fraudulent gambling sites worth millions of dollars. The Chinese authorities expressed their appreciation for the United Arab Emirates' cooperation and their keenness to enhance cooperation and joint action to ensure the security of societies and the international community.
UAE Moments
4 days ago
- Business
- UAE Moments
Philippines Orders E-Wallets to Cut Ties with Online Gambling
The Bangko Sentral ng Pilipinas (BSP) just dropped a bombshell for e-wallets: unlink from online gambling platforms — and fast. Deputy Governor Mamerto Tangonan told senators the order was given today (Aug 14), giving companies until Saturday to scrub their apps clean. Why the Wait? Senators weren't thrilled about the two-day grace period, questioning why it couldn't be instant. BSP says removing links takes time and also lets users withdraw their funds from gambling accounts. You Can Still Access Sites Directly Even after links vanish from apps, e-wallets can still process payments if you go straight to a gambling website. Full regulations on this are still in the works. The Bigger Gambling Debate The Senate is weighing whether to ban online gambling outright or just tighten rules. PAGCOR's idea? Limit bets to physical stations, similar to horse racing. Credit card use for gambling debts is already off the table.
Yahoo
08-08-2025
- Business
- Yahoo
Ethereum Treasury Sharplink to Raise $200 Million for More ETH Purchases
Sharplink Gaming plans to raise roughly $200 million to add Ethereum to its corporate treasury, the company said Thursday in a statement. The ETH treasury firm has entered into an agreement to sell its common stock to four institutional investors, with shares priced at $19.50 each. The offering is expected to close on August 8, if the deal's closing conditions are met. This deal brings the online gambling marketing firm closer to its goal of holding 1% of all Ethereum in circulation. 'Sharplink is proud to be joined by globally-recognized institutional investors, augmenting our strong existing investor base and further validating our mission to be the world's leading ETH treasury,' Sharplink co-CEO Joseph Chalom said Thursday in a statement. Sharplink Gaming did not immediately respond to Decrypt's request for additional comment. The raise comes as a growing number of public companies pivot to corporate strategies focused on accumulating massive amounts of cryptocurrencies, following the lead of Michael Saylor's software firm Strategy. As part of that trend, several Ethereum treasury firms have emerged over the past year, catapulting Ethereum to its highest price in roughly two years. Ethereum was recently trading at $3,812, just 22% below its record price of $4,878 that it touched during the bull run of 2021, according to data provider CoinGecko. Sharplink held 521,939 ETH worth $1.9 billion as of August 3, according to its filings with federal regulators. The company initiated its Ethereum-accumulation strategy in June of this year. Bitcoin ETFs Pull In $91.6M, Snapping Four-Day Outflow Streak As the treasury firm nears 1,000 ETH in total holdings, bettors are wagering on whether the company will meet or exceed that benchmark. Fifty-five percent of bettors on Myriad Markets, an events-contract platform, have wagered that Sharplink will not accumulate at least one million ETH before mid-September. Myriad is owned by Dastan, the parent company of Decrypt. Whether Sharplink snaps up one million ETH tokens by mid-September, it already boasts of one of the world's largest Ethereum treasuries. The largest ETH treasury firm is the Peter Thiel-backed BitMine Immersion, which holds roughly $2.9 billion in ETH, according to publicly available data. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
30-07-2025
- Business
- Yahoo
MGM Resorts quarterly revenue rises on sports betting strength
(Reuters) -Casino operator MGM Resorts International on Wednesday reported a rise in second-quarter revenue, driven by strong performance in its online sports-betting operations as well as its China unit. The company's China unit reported a 9% revenue growth at $1.11 billion as its casinos in the region generated more revenue from participations in main floor and VIP table games. Revenue from its regional operations segment, which encompasses casinos in U.S. markets outside Las Vegas, also rose 4% to $964.6 million. Its digital unit, which offers online gaming product offerings such as iGaming, as well as digital slots, table games, live dealer and online sports betting, recorded a 14% revenue growth to $163.9 million. There has been a surge in demand for online gambling, especially in sports betting, in the last few years, benefiting companies such as MGM Resorts and Caesars Entertainment. Caesars had posted a narrower loss on Tuesday, while BetMGM, MGM's sports-betting joint venture Entain, had also raised its annual forecast due to strong demand in online sports betting and its iGaming division. However, MGM Digital's adjusted operating loss widened, and weighed on the company's overall earnings. MGM Resorts' adjusted per-share profit for the second-quarter came in at 79 cents, compared to 86 cents, a year earlier. Total revenue rose 1.8% to $4.40 billion for the quarter ended June 30, from $4.33 billion a year earlier.
Yahoo
30-07-2025
- Business
- Yahoo
MGM Resorts quarterly revenue rises on sports betting strength
(Reuters) -Casino operator MGM Resorts International on Wednesday reported a rise in second-quarter revenue, driven by strong performance in its online sports-betting operations as well as its China unit. The company's China unit reported a 9% revenue growth at $1.11 billion as its casinos in the region generated more revenue from participations in main floor and VIP table games. Revenue from its regional operations segment, which encompasses casinos in U.S. markets outside Las Vegas, also rose 4% to $964.6 million. Its digital unit, which offers online gaming product offerings such as iGaming, as well as digital slots, table games, live dealer and online sports betting, recorded a 14% revenue growth to $163.9 million. There has been a surge in demand for online gambling, especially in sports betting, in the last few years, benefiting companies such as MGM Resorts and Caesars Entertainment. Caesars had posted a narrower loss on Tuesday, while BetMGM, MGM's sports-betting joint venture Entain, had also raised its annual forecast due to strong demand in online sports betting and its iGaming division. However, MGM Digital's adjusted operating loss widened, and weighed on the company's overall earnings. MGM Resorts' adjusted per-share profit for the second-quarter came in at 79 cents, compared to 86 cents, a year earlier. Total revenue rose 1.8% to $4.40 billion for the quarter ended June 30, from $4.33 billion a year earlier. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
