Three Britons have been jailed for cheating – in a year-long scam – a European casino that is now part-owned by Macau gaming operator Galaxy Entertainment Group Ltd.
The trio were found guilty of switching casino chips bought for EUR10 (US$11), with ones worth EUR1,000 while playing roulette at Casino de Monte-Carlo (pictured) in the Mediterranean principality of Monaco, reported the U.K.’s Daily Telegraph newspaper.
The professional gamblers were handed prison sentences of between 10 and 30 months by a Monaco court on Monday and ordered to pay back EUR850,000 of the EUR3.66 million they were accused of pocketing from the fraud over a year, the media outlet added.
It was only in July that Macau gaming operator Galaxy Entertainment acquired its 5-percent stake, for EUR40 million, in Monaco casino firm Société des Bains de Mer et du Cercle des Étrangers à Monaco, also known as SBM. The latter company operates four casinos in the principality, including Casino de Monte-Carlo, according to its corporate website.
In late August Galaxy Entertainment announced that Michael Mecca, its president, had become a director of SBM.
Sep 21, 2023Fitch Ratings Inc has affirmed the long-term issuer default rating of casino operator Genting Malaysia Bhd at ‘BBB’, an investment grade, according to a memo published on Wednesday. The ratings...
Sep 21, 2023
”Genting Malaysia’s revenue rebound has been slower than our expectations, and the impact on leverage has been compounded by Empire’s weak metrics”
Akash Gupta, Shiv Kapoor and Hasira De Silva
Analysts at Fitch Ratings