Crown Casino Facing Class Action, Major Bust of Online Gambling Ring

Written by:
Guest
Published on:
Dec/04/2017

Following the arrests of 18 Crown Casino employees and their subsequent guilty pleas in promoting gambling in China this year, company shareholders have launched a class action against the casino firm for the sharp drop in its share price on news of the arrests.  Source: ABC Australia

Hong Kong Authorities Bust Major Online Gambling Ring - On Monday, China’s official state media agency Xinhua announced the arrests on Sunday of 71 individuals suspected of involvement in a major online gambling ring that involved illegal wagering by Chinese mainland gamblers on Hong Kong’s legal gambling industry.

Guangdong police claim to have frozen RMB 21m (US $3.2m) worth of online wagers.

The ring was organized into four tiers: “overseas bookmakers, senior brokers, brokers and gamblers. The senior brokers sometimes acted as the bookmakers and received bets directly from gamblers. Or they passed the bets to overseas bookmakers to earn brokerage.”

- Gilbert Horowitz, Gambling911.com

Gambling News

Wichita Bookie Sentenced as Part of Illegal Gambling Probe

An admitted bookie in an illegal gambling ring in Wichita will serve two years of probation for his crimes.

Vitalbet.com News

Gambling911.com has all your news related to Vitalbet.com and its supported GIFcoin (Gambling Investment Fund). 

Gambling Investment Fund Performing Well in Bearish Crypto Market

GIFcoin, which claims to be the world's first Gambling Investment Fund, continues to chug along despite a rather bearish market in the cryptocurrency space.

CryptoFriends Partners With Malta Blockchain Summit

CryptoFriends Partners With Malta Blockchain Summit

The inaugural edition of the Malta Blockchain Summit promises to be a seminal event on the Blockchain and DLT calendar, and it has just received a boost with a newly minted partnership with CryptoFriends, who are known for bringing their signature style to the events they work with.

Root: Can You Imagine the Dollars Bet Once Sports Betting is Legalized in US?

Root: Can You Imagine the Dollars Bet Once Sports Betting is Legalized in US?

In his regularly featured article for the Las Vegas Review Journal, one time sports handicapper turned political pundit and radio commentator, Wayne Allyn Root, surmises that legalized sports betting in the United States will generate an almost endless stream of new money flow.

Syndicate