Art, Entertainment & Sports Finance & Banking

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Casino AML Compliance Update: Las Vegas Sands Corp. Places Macau Casino Junkets Under Increased Scrutiny.

On April 4, 2014, Bloomberg reported that the Las Vegas Sands Corp. (“Sands”) has increased its scrutiny of casino junket operators in Macau. The decision comes as casinos seek to meet the increased demands of federal...more

Poland: Additional payment services available to operators regulated under the Polish Gambling Act

Changes to the Polish Gambling Act have broadened the array of payment service providers that Polish-licensed operators can use. In October 2013, an amendment to the Polish Gambling Act came into force which changed the...more

Enterprise Investment Scheme availability for film or television co-productions

HMRC has published a note to clarify the interaction between film or television co-productions and the Enterprise Investment Scheme (EIS). In the note, HMRC states that companies participating in a film or television...more

Harmonised Anti-Money Laundering Rules for Online Gambling

On 11 March 2014, the European Parliament adopted the Fourth Anti-Money Laundering Directive (Directive). The updated rules mean that all gambling services (both physical and electronic) will be subject to EU-wide regulation,...more

Financial bets are gambling?

Gaming law disputes as to the qualification of financial bets, binary bets, spread betting and trading tournaments are more and more frequent as a consequence of the continuous growth of such product. However, the main issue...more

Nevada Gaming Commission Approves Prepaid Cards

At its meeting on February 20, 2014, the Nevada Gaming Commission adopted amendments to NGC Regulation 1–Issuance of Regulations: Construction; Definition–and NGC Regulation 14–Manufacturers, Distributors, Operators of...more

Interim IRS Guidance Confirms Per Capita Distributions from Tribal Trust Resources Are Nontaxable

Notice 2014-17 Is a Positive Development Because It Should Ultimately Result in Consistent IRS Treatment of Tribal Trust Resources, But Several Issues Remain Unresolved. The Notice provides that the IRS and Treasury...more

Comfort Letters - Comfort for Whom?

If you are buying, building or refinancing a hotel, you'll almost certainly be looking to a bank or other lender to finance the hotel, and when you do, you'll need to negotiate dozens of documents, some long, some short, but...more

"Chain" versus "Independent" A View from an Operator of Independent Hotels

In recent years, the topic of "brand versus independent" has become increasingly popular. Every industry conference has a panel titled the same, numerous articles - and blogs - are being written on the topic by every...more

FTC Announces Revised Thresholds for Interlocking Directorates

The Federal Trade Commission has announced revised thresholds for interlocking directorates required under Section 8 of the Clayton Act (15 U.S.C. § 19(a)(5)). The revised thresholds took effect January 23, 2014....more

Sacramento Kings Announce They Will Be The First Pro Sports Franchise To Accept Bitcoin

On January 16, 2014, The Sacramento Bee in its article Kings will be first pro sports franchise to accept online currency Bitcoins announced that by March 1, 2014, Sacramento Kings fans "will be able to purchase team...more

Top 10 Indian Tribal Tax Developments in 2013 and Priorities for 2014

In 2013, courts were active in issues relating to Indian tribes, including ruling on state tax matters and the federal income tax aspects of Section 17 corporations. The top 10 Indian tribal tax developments from 2013...more

The intersection of perk-based and securities-based crowdfunding, and defining the "issuer" under Proposed Reg CF -- financing for...

In the world of perk-based crowdfunding, film and entertainment projects have been some of the most successful projects. But perk-based financing has its limits even in this glamorously attractive industry. Today my fellow...more

Turkey: The authorities launch a tender for the privatization of the lotteries

The Turkish authorities have published today an announcement regarding the privatization of their lottery services (Official Gazette w. no. 28833)....more

Public Lending Right Consultation 2014

The Department for Culture, Media & Sport has opened a consultation regarding the proposed rate per loan of the Public Lending Right for 2014....more

European Commission revises rules for state-aid support for films

Published last week, the European Commission’s new Cinema Communication 2013 (the “Communication“) broadens the scope of activities in connection with the creation of films and other audio-visual works which may attract...more

Gaming Legal News - November 2013 • Volume 6, Number 25: Investment – Why Bulgaria?

The strategic geographical position of the country and the membership with the European Union provide a wide range of investment opportunities in Bulgaria not only for local, but for foreign investors as well. The advanced...more

NHL Players Defrauded in Series of Investment Schemes

National Hockey League Players were the primary victims of a series of fraudulent investment schemes orchestrated by financial adviser Phillip Kenner and former professional race car driver Tommy Hormovitis. Collectively, the...more

Appendix - Opening-up Measures for Service Sectors (China)

Please see full chart below for more information....more

Update: Crackdown on Casino AML Deficiencies Continues as Caesars Entertainment Corp. becomes subject of FinCEN and DOJ...

On October 21, 2013, Caesars Entertainment Corp. (“Caesars”) announced in its filing with the Securities and Exchange Commission that its subsidiary Desert Palace, Inc. (owner of Caesars Palace) was under investigation for...more

Do You Know What Day It Is? The Risks and Benefits of the Animal Spokesperson

Do You Know What Day It Is? The Risks and Benefits of the Animal Spokesperson by Dan Brecher on October 9, 2013 Does Grumpy Cat have more Twitter followers than your business? If so, maybe it’s time for an animal...more

Former Chapel Hill Tutor Indicted in Sports Agent Investigation

Former Chapel Hill Tutor Indicted in Sports Agent Investigation by Anthony Caruso on October 7, 2013 A former UNC-Chapel Hill tutor who worked closely with Tar Heels football players has been indicted on charges of...more

Will Yankees Give In To Cano’s $300-Million Contract Request?

Will Yankees Give In To Cano’s $300-Million Contract Request? by Anthony Caruso on October 4, 2013 New York Yankee's second basemen Robinson Cano is reportedly requesting a record $300-million contract to be spread out...more

Spain: The lone smoker solution

Very high expectations have arisen in Spain since two major gambling and entertainment projects were announced some months ago. Indeed, Las Vegas Sands has confirmed in several occasions its ambitious project for developing a...more

Money Transmission Act Petition Withdrawn/Initiative Would Presume Harm For Release Of “Personally Identifying Information”

Money Transmission Act Petition Withdrawn - Earlier this month, I wrote about a pending petition questioning the failure of the Department of Business Oversight to adopt regulations under the Money Transmission Act. ...more

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