cissolt Posted October 9 Share Posted October 9 9 hours ago, The Phantom said: I would have thought that we would have heard something from the building firms lined up for the development that have now been left up the proverbial creek. But strangely not a peep. There was a chap on the radio from one of the firms involved not long after the arrests. He was complaining that there is a lack of capital project work due to planning issues. Quote Link to comment Share on other sites More sharing options...
Amadeus Posted October 9 Share Posted October 9 2 hours ago, The Phantom said: Happens a fair amount. Especially with the GSC and the Gaming Cos. Gamekeeper turned poacher. Staff retention has been an issue at the GSC for a long time. Low pay (compared to what gaming firms pay) + relevant regulatory knowledge = desirable candidates. Quote Link to comment Share on other sites More sharing options...
Ringy Rose Posted October 9 Share Posted October 9 On 10/7/2024 at 1:00 PM, Amadeus said: They did. Wow Entertainment Limited, there's a change of name in the registry. That entity is tied to Wow Casino from what I can see. Which in turn seems to have changed its name to WowVegas. They must be a good operation, their brand ambassador is Paris Hilton. On 10/7/2024 at 2:43 PM, The Phantom said: Complete coincidence they are fining the pants off people for not ticking the right boxes. MONEYVAL is on the horizon. MONEYVAL will assess not just on whether we have the right legislation but also whether we use it. So the fines and the regulatory action will be to show to MONEYVAL that we do. I think much of MONEYVAL is political bollocks but they’re the self-appointed world police and so we do as we’re told. The IOM getting put on the naughty step will cost my business more than dealing with the FSA does. When Gibraltar got put on the naughty step they said it cost them 10% of their GDP. And bear in mind that’s what they publicly admitted to! Quote Link to comment Share on other sites More sharing options...
Amadeus Posted October 9 Share Posted October 9 Everyone is scared of MONEYVAL. They won't admit it and are playing cool, but the nervousness is noticeable. Also, they are literally hiring someone to help ready them for it: https://services.gov.im/job-search/viewjob?Id=205990 1 Quote Link to comment Share on other sites More sharing options...
Ringy Rose Posted October 10 Share Posted October 10 15 hours ago, Amadeus said: Everyone is scared of MONEYVAL. They won't admit it and are playing cool, but the nervousness is noticeable I’d be more worried if they weren’t nervous about MONEYVAL. The financial consequences of getting put on the naughty step are significant. Most AML/CFT rules are really just the Americans swinging their dicks, if they really gave a toss about terrorist financing the rules would be a lot tighter on sending money to Israel, Saudi, and the UAE for starters. Or Northern Ireland, for that matter. But they’re the self-appointed world police so we need to do as we’re told. Quote Link to comment Share on other sites More sharing options...
Amadeus Posted October 10 Share Posted October 10 8 minutes ago, Ringy Rose said: I’d be more worried if they weren’t nervous about MONEYVAL. The financial consequences of getting put on the naughty step are significant. Most AML/CFT rules are really just the Americans swinging their dicks, if they really gave a toss about terrorist financing the rules would be a lot tighter on sending money to Israel, Saudi, and the UAE for starters. Or Northern Ireland, for that matter. But they’re the self-appointed world police so we need to do as we’re told. Everyone knows it’s dick swinging bullshit fed by agendas. Being grey listed isn’t the end, see Malta and Gib, the latter which is apparently working on a new grey market licence. IoM is at massive risk of falling further behind than we already are and becoming irrelevant. Recent activities sure don’t help with that. Quote Link to comment Share on other sites More sharing options...
Sceptic Posted Friday at 12:21 PM Share Posted Friday at 12:21 PM Ignoring King Gaming e-gaming and online gambling is such a clean industry though isn’t it which requires minimal regulation? This story is just like the ones I regularly hear about people who murder their entire family and live with their dead bodies for years and years as they have an addiction to setting offshore life insurance policies, or zero-rated IOM SPV asset holding companies, or offshore bank accounts which are apparently the biggest risks to the financial system in the IOM. https://www.dailymail.co.uk/news/article-13949033/woman-poisoned-father-stabbed-mother-hiding-jailed.html £21,000 of the money stolen from dead parents was spent gambling online. Quote Link to comment Share on other sites More sharing options...
TheTeapot Posted Friday at 04:46 PM Share Posted Friday at 04:46 PM When the fun stops, stop. Quote Link to comment Share on other sites More sharing options...
Non-Believer Posted Friday at 05:01 PM Share Posted Friday at 05:01 PM 13 minutes ago, TheTeapot said: When the fun stops, stop. Somebody needs to tell Allinson and the Govt... 2 Quote Link to comment Share on other sites More sharing options...
manxkinho Posted 3 hours ago Share Posted 3 hours ago https://www.iomtoday.co.im/news/king-gaming-saga-has-not-caused-a-wider-impact-on-isle-of-mans-e-gaming-sector-730704 Ummm. Really? Are you sure about this, GSC? Quote Link to comment Share on other sites More sharing options...
The Phantom Posted 2 hours ago Share Posted 2 hours ago 5 minutes ago, manxkinho said: https://www.iomtoday.co.im/news/king-gaming-saga-has-not-caused-a-wider-impact-on-isle-of-mans-e-gaming-sector-730704 Ummm. Really? Are you sure about this, GSC? I'd probably agree with them and I've said the impact of this will likely not where you would expect. Gaming will probably be fine. If there is a downturn, it won't be because of this. It will be because other jurisdictions are easier to deal with, have skilled work forces and functional Govts. Extra rules regarding proceeds of crime and immigration however are extremely likely. Quote Link to comment Share on other sites More sharing options...
Roger Mexico Posted 2 hours ago Share Posted 2 hours ago 26 minutes ago, manxkinho said: https://www.iomtoday.co.im/news/king-gaming-saga-has-not-caused-a-wider-impact-on-isle-of-mans-e-gaming-sector-730704 Ummm. Really? Are you sure about this, GSC? The audio of the evidence is here: https://tynwald.org.im/audio?file=/business/listen/AgainFiles/eprc241010a.mp3 I've only listened to the first half, and there's some interesting stuff there. But it does rather confirm the impression of an organisation that only recently woke up after a long (15 year) sleep. Even then they had to be prodded heavily by the police. I suspect Phantom may be right on the wider impact, though. But what the whole affair reveals about other parts of IOMG rather than just the GSC might be more telling. 2 Quote Link to comment Share on other sites More sharing options...
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