Channel News Asia – An online Bitcoin trading platform aimed at Chinese investors has suddenly closed, leaving hundreds with more than 20 million yuan ($3.3 million) in combined losses, a newspaper said on Thursday. Hong Kong-registered Global Bond Limited shut down in late October and disappeared before users could withdraw investments from their accounts, the China Business News said. Bitcoins – a form of digitally-created “e-money” – are stored in a virtual wallet, and can be sent directly to another person, bypassing banks and remaining largely anonymous. They were created in 2009 in the wake of the global financial crisis…

Business Insider – A stunning $202 billion in “ill-gotten funds are channeled through Macau each year,” according to The Congressional-Executive Commission on China Annual Report 2013. Diplomatic cables released by Wikileaks claimed that the casino and hospitality sector accounted for over 50% of Macau’s GDP but that, “its phenomenal success is based on a formula that facilitates if not encourages money laundering.” And a lot of that money comes from China. Macau casinos pulled in a record 36.5 billion patacas ($4.57 billion) in revenue in October, largely driven by Chinese visitors. In 1999, Macau saw 800,000 mainland Chinese tourists.  That figure…

iGaming Business – Revenue from all forms of gambling in South Africa has increased during 2013 despite the economic slowdown, according to a survey by professional services firm PricewaterhouseCoopers (PwC). The report recorded gross gambling revenue of ZAR16.4 billion (€1.2 billion/$1.6 billion) in 2012, a total of which 78% was generated from casinos. Nikki Forster, PwC’s gambling leader, highlighted casinos as the gambling market leader in the country, with the market for limited pay-out machines (LPMs) “far below” its potential as the opportunity remains for more to be installed. “The casino market has virtually reached its maturity with 38 out…

iGaming Business – Gaming products designer and manufacturer International Game Technology (IGT) has reported a 9% rise in total revenue for the 2013 fiscal year following significant growth in social gaming sales. IGT said total revenue for 2013 was $2.3 billion (€1.7 billion), up from the $2.2 billion recorded in 2012, despite having only recorded slight revenue growth in the fourth quarter of this year. The figure was boosted by social gaming revenue, which grew to $219 million, a 151% rise. Social gaming also grew by 72% in the fourth quarter alone. Operating income at IGT grew to $494 million,…

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BBC – An anti-money laundering “centre of excellence” could be set up in Alderney next year, if plans come to fruition. Neil Harvey, a member of the Policy and Finance Committee, said accountant PwC was carrying out a feasibility study at its own expense. He told States members the office would have a similar set up to the Alderney Gambling Control Commission. Mr Harvey said it could create new jobs in the island but warned there were “many technical and legal issues “. The new office would provide compliance services for financial institutions and other firms dealing with wealthy clients,…