Following a series of accusations for the Queensland casino laws violations, and the financial issues resulting in extensive lay-offs, the Australian gaming corporation Star Entertainment is facing another problem. As InQueensland reports, the casino giant’s vulnerability has recently been proven by another delay of its Queen’s Wharf project in Brisbane.
April 2024 Launch:
The company reportedly unveiled that its ambitious $3 billion development project, set to open in late 2022, will not be launched before April 2024. As InQueensland reports, the latest delay is the additional extension of the timeline anticipating the opening in December this year. Even the push-back to December would reportedly imply a staged opening as the supply chains established before the Covid-19 pandemic has now been disrupted to request additional planning and time schedule adjustments.
Blaming Contractor:
According to the source, the construction works for the Queen’s Wharf project have been assigned to Multiplex as the leading contractor and the latest postponement of the project completion is reportedly the contractor’s responsibility. Star reportedly said the project leaders gathered around the Queens Wharf consortium, known as Destination Brisbane, decided to push the opening timeline forward after they had reviewed the progress of the construction works.
Star chief executive Robbie Cooke reportedly complained that the project sustains the same type of pressure as other major construction projects. “We are disappointed, but this transformational development for Brisbane has been eight years in the making already and it will be worth the wait,” he reportedly said.
List of Problems:
It seems that it would be better the project is worth waiting for as the company doesn’t seem to have much time to wait to get back on track. Indeed, the shares of Star Entertainment reportedly sense the pressure from the delayed project as the $800 million fundraising project has been slowed down for weeks.
According to the source, Star’s shares fell 2 per cent on June 6, 2023 to add some more weight to the company’s half-year loss of $1.3 billion. But that’s not all, as the operator is still facing fines from the gaming regulator, after it had paid the two $100 million fines to two Australian provinces’ governments for money laundering non-compliance.
Ray of Light:
The Star’s statement that some parts of the Queen’s Wharf project, i.e., several dining, entertainment, and gaming areas have been completed and the keys received by the company sheds some light on the gloomy company’s prospects.
Star reportedly said: “The third and final sky deck bridge section was moved into place on Friday June 2, allowing the sky deck lift and connection to take place in coming weeks. The completed sky deck will connect all four towers of the Queen’s Wharf development and signify a further milestone in the project’s progression.”
The legal status of online casinos in India is complex and varies by state. While there is no federal law that explicitly addresses online gambling, the legality depends on state regulations and the type of gambling involved.
Key Points:
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No National Law: India does not have a specific national law regulating online casinos. However, the Public Gambling Act of 1867 prohibits operating physical casinos and gambling houses, but it doesn't cover online platforms, leaving a legal grey area for online gambling.
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State-Specific Laws: Some Indian states, like Goa, Sikkim, and Daman, have legalized land-based casinos, and others, such as Sikkim, have also licensed online gambling. Many states have banned gambling altogether, including online gambling.
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Online Sports Betting: Betting on sports, particularly cricket, is very popular in India. However, it's only explicitly legal in some states like Sikkim and Nagaland, which have laws permitting online gaming and betting.
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Legal Gray Area: Many international online casinos accept Indian players and operate legally under licenses from offshore jurisdictions (like Curacao or the UK Gambling Commission). As long as players are gambling on licensed platforms, the risk is minimal, but local authorities may still choose to regulate or restrict online gambling.
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Cryptocurrency: Some Indian players prefer using cryptocurrencies (like Bitcoin) for online gambling, as it provides a layer of anonymity and security.
While online casinos aren't explicitly legal across all of India, many international casinos accept Indian players, and online gambling continues to grow in popularity. Players should ensure they use licensed platforms and understand local laws before engaging in online gaming.
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