888 Holdings Shares Plummet As Online Gambling Is Hit By Slowdown
"We are certainly willing to use capital for M&A if it's something that strategically fits with what we are trying to do. And there seem to be a lot of things around right now presenting themselves as possibilities," said Baker.
HONG KONG, Aug 5 (Reuters) - Macau's government said on Friday it would resume ferry services with the southern Chinese city of Shenzhen on Aug.
8, as authorities try to unwind stringent COVID-19 restrictions in the world's biggest gambling hub.
'I feel more alive and present than ever': Demi Moore says... James Packer looks slimmer than he's been in years as he... 'I want to feel sexy!': Demi Moore says she refuses to... Mariah Carey puts on a busty display as she takes a dip in...
According to media reports, She is the chairman of Yatai International Holdings Group, which has made gaming investments in Cambodia, the Philippines and, most recently, developed the $15 billion casino, entertainment and tourism complex in Myanmar's Kayin State called Shwe Kokko.
STOCKS TO WATCH: Bookies set to reveal how much England's... Crackdown on online gambling will hit sales, warns betting... Gambling group 888 Holdings expects dent to half-year... 888 unveils surging profits days after betting firm was...
BANGKOK, Aug 15 (Reuters) - Thai police have arrested a Chinese fugitive wanted by Beijing for allegedly running illegal online gambling operations and will soon extradite him to China, the police told Reuters on Monday.
That's what the digital dollar would promise. CBDCs could bypass the traditional banking system by allowing money to flow directly between parties, just like exchanging cash or transferring funds electronically.
The firm revealed total revenues fell by 13 per cent to £332.1million, with the largest fall occurring in the UK, where they plunged by a quarter after the group implemented lower affordability thresholds and caps on slots stakes.
She Zhijiang, 40, a Chinese national who also holds a Cambodian passport, was arrested last week based on an international warrant and an Interpol red notice, Thailand's deputy police spokesman Kissana Phathanacharoen said.
Cambodia banned online gambling in 2019 after it said the industry has been used by foreign criminals to extort customers and launder illicit earnings, following the proliferation of Chinese-run casinos in the country.
888 had previously attempted to buy William Hill with Mecca Bingo owner Rank Group for £3.6billion in 2016 before abandoning the effort after being told their offer was too low and required massive debts to fund the purchase.
Chief executive Itai Pazner said: 'The combination with William Hill, which we completed soon after the period end, transformed the group and creates very strong foundations to support our ambitious growth plans. If you have any concerns regarding where and how you can make use of the full report, you can call us at our own internet site. '
Privacy concerns over CBDCs The primary concern over a government-issued digital dollar centers on privacy, particularly when it comes to the issuance of Federal Reserve accounts. The US government could track all citizens' purchases through an e-wallet, giving the Fed an account of everything we do and eliminating space for unsurveilled monetary exchange, according to Peebles.
Pre-tax profits at the Gibraltar-based business tumbled by two-thirds to £14.4million in the first half of 2022 as loosening Covid restrictions and stricter safety measures led to a decline in Britons gambling online.
A less destabilizing CBDC proposal wouldn't require a federal account but would involve a "cash card," that is, a card that customers of private banks could use at ATMs to load up on digital cash instead of paper money. "Just like paper money, if the holder lost that card or had their wallet stolen, the card would have value on it that anyone could use," Peebles said.
What is a central bank digital currency? It's the virtual form of a fiat currency -- that is, government-issued money that isn't backed by other commodities like gold or silver. In short, a CBDC is just the digital form of a country's official currency. As nothing more than a computer code, these currencies could be stored on central ledgers within a country's national bank or on a distributed ledger the way private cryptocurrencies like bitcoin are.
Such a shift would be destabilizing, Peebles noted, because if the average person can make everyday payments through a Fed account, there's less reason to keep an account at a private bank. "That might push private banks away from what they've gradually morphed into today -- this deposit facility -- and send them back to their original task: just providing loans," Peebles said.
Bitcoin was invented, at least in part, to circumvent governments and national currencies. In the original white paper, released in the wake of the 2008 financial crisis, Satoshi Nakamoto expressed a desire to create "a new electronic cash system" that was "completely decentralized with no server or central authority."
But as cryptocurrencies gain in popularity, grabbing an increasing share of the global financial pie, governments have taken notice, and now many of them are exploring how to get a piece of the action. One possibility is what's known as a CBDC, or a central bank digital currency.
