Reuters – Paradise Group , one of South Korea’s largest casino operators, and Japanese gaming company Sega Sammy plan to invest $1.7 billion to build a luxury resort to tap a surge in Chinese gamblers flocking to the country. The pair said in a statement on Tuesday they will build a foreigners-only casino in Incheon, in the northwest of the country near the capital Seoul and a short flight away from wealthy gamblers in China and Japan. South Korea, which bans locals from entering its casinos bar one located in a remote province, is being eyed by global casino operators…

Bloomberg – Japanese lawmakers began to flesh out a plan to legalize casinos today, with an outline of proposed legislation allowing gambling resorts to be developed not only in big cities but also in regional areas. The document includes a proposal that inspectors be appointed to monitor casinos for illegal activities, according to a copy obtained by Bloomberg News from a person who attended a panel meeting where the proposal was presented. While betting on horse, boat and bicycle races are allowed in Asia’s second-largest economy, casinos are currently banned and the lawmakers’ group is planning to submit a separate…

iGaming Business – Land-based gaming operator Caesars Entertainment is the subject of a federal money-laundering investigation and probes in two US states, it has emerged. According to Bloomberg, Caesars pulled out of a project in Boston and ended a hotel-licensing deal in Las Vegas after Massachusetts investigators recommended denying a permit. The Massachusetts officials cited matters related to Caesars Interactive chief executive officer Mitch Garber, the former CEO of PartyGaming, as a reason for its decision. PartyGaming took US bets prior to the passing of the 2006 Unlawful Internet Gambling Enforcement Act (UIGEA). The report by Massachusetts gaming investigators noted…

Reuters – Robust quarterly results from billionaire Sheldon Adelson-owned Sands China propelled shares of most Macau casinos to record highs on Friday, and more gains could lie in store as strong gaming revenue is expected for the month. Sands China posted a nearly 43 percent jump in net revenue to $2.3 billion in the third quarter from a year earlier, sending its shares in Hong Kong surging by as much as 10.8 percent on Friday. The surprise, according to Deutsche Bank analyst Karen Tang, was down to a faster-than-expected increase in margin growth at its Sands China Cotai casino and…

Press Release – Scientific Games Corporation (Nasdaq: SGMS) announced today that it has completed the acquisition of WMS Industries Inc. (NYSE: WMS), combining leading businesses offering lottery games, gaming machines and game content, systems, sports betting technology, and social, mobile and interactive content and services. “We are pleased to announce the successful completion of our merger with WMS,” said A. Lorne Weil, Scientific Games’ Chairman and Chief Executive Officer.  “The acquisition of WMS is transformational for Scientific Games as it creates a leading company in the gaming industry with innovative content, world-class technology and an expansive geographical footprint, able to…

CBC – The developer behind a failed bid to build a massive casino complex in downtown Vancouver has returned with a new proposal for a multimillion-dollar urban resort project near BC Place. Paragon Development Ltd presented its plans at an open house on Tuesday night, the first public consultation since the company’s plan for the largest casino in Western Canada was rejected by Vancouver city council in 2011. The new development at 39 Smithe Street will start next to BC Place and stretch all the way to the Cambie Street Bridge. Paragon, which already owns Edgewater Casino on the edge of False Creek, says the new…