Casino News
By Keila Brown | 8th February 2012 | Casino News
When Singapore set out with its goal of creating some of the most expensive casino resorts in the world, many of the experts felt that this would be a huge failure. The experts felt that with Singapore’s conservative native, it couldn’t be any more different than the Las Vegas Strip, commonly referred to as Sin City. However, the tides have turned and what was once the biggest gambling center in the world is not being upstaged by the small city of Singapore.
In 2011, it is believed that the two casinos in Singapore has received more in gambling revenues than all 39 casinos on the Strip in Las Vegas. And Singapore does not have “just two casinos,” but two massive integrated resorts that house a variety of attractions, allowing their profits to surge past the $1.5 billion mark. They are now some of the most profitable places around the globe.
These casinos have also greatly benefits the tourism sector in Singapore. In 2010, when the casinos opened, the percentage of visitors arrival rose to 20 percent while visitor expenditures when up 49 percent. The growing number in visitors can easily help create an explanation on why the revenue numbers are so high.
What is one of the differences between the casinos in Singapore versus the casinos in Las Vegas? Many experts attribute this new “Singapore model” to the fact that the government of Singapore planned out the casino development, whereas growth in Las Vegas was not expertly planned, but by entrepreneurs (and some of them mob-related) who had a dream and wanted it to come true as quickly as possible, and with no exact planning.
The only problem that the Singapore casinos face is collecting credit extended to the players as gambling debts are not enforceable in China. There is the inherent risk that a player will not provide money to pay their debt. Therefore, these uncollectable debts often need to be factored right into the financial statements of the casino operators.
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By vince.baker | 30th January 2012 | Casino News
In 2011, Macau casino gambling revenue increased by 42 percent, bringing it to a high of $33.47 billion. This is in large part due to the increasing traffic of very wealthy Chinese from the mainland who come to Macau, a Chinese territory, to play in the casinos. Unlike the rest of China, where casinos are banned, they are quite in fashion in Macau, which is what brings many Chinese in
This total revenue is said to be approximately five or six times more than what the gamblers in Las Vegas or Singapore casinos were believed to have spent throughout the 2011 calendar year. PricewaterhouseCoopers did the estimates and also made note that the Macau casino industry will most likely double its total revenue by 2016. According to Aaron Fischer the head of Asian consumer and gaming research at CLSA, a brokerage firm based in Hong Kong, no one expected the market in Macau to grow as quickly or as much as it did. Everyone was expecting possibly a 20 percent growth, and that was seen as very bullish at the time.
The Macau boom in their gaming industry sharply contrasts that of venues in the United States, like Las Vegas, where there has been some slight suffering due to declining revenues, the result of the current global downturn. While the Chinese are not immune to the current economic downturn, the average gambler in Chine tends to place bets up to ten times more than an American counterpart
Approximately 16 million Chinese men and women from the mainland visited the Macau casinos during the 2011 calendar year, which is a 20 percent increase over 2010. Currently, Macau is now looking into ways to expand their transport links as well as accommodation facilities to take in the rise of all the mainland visitors. There is presently a new railway to decrease travel time, a bridge, and ferry services. Macau International Airport receives a number of flights from Shanghai and Beijing. As for accommodation, in 2012, the Sands Cotai Central is listed to open their doors, boasting an additional 5,800 rooms.
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By Goodluck | 24th January 2012 | Casino News
An independent research firm, Spectrum Gaming Group, that services a number of clients, both public-sector and private-sector around the world, listed some of the top trends to be monitored in 2012 in regards to the worldwide casino industry. Here are some of the top trends:
- New casino plans for 2012 will emphasize mid-scale, sensible sizes and design as all gaming companies begin to emphasize a return on investment in the current soft economy.
- A number of major gaming operators in the United States are going to continue to scout undeserved international markets, such as Asia, for the development of new major gaming resorts.
- Land-based casinos in the United States are going to continue to prepare for capitalization of internet poker when it is finally made legal in the country. When legalization does occur, a number of offshore operators will be eager to sign deals with land-based casinos in the United States.
- Social networking websites and electronic gaming are quickly heading up to be the “next big thing” in casino gaming.
- Competition throughout Las Vegas is going to continue to accelerate within the local markets as the housing and employment markets remain weak. Meanwhile, casino operators along the strip are going to push their focus on property enhancements and debt restructuring rather than consolidation and new developments.
- Legalization of gambling in states like New Hampshire, Kentucky, and other states reluctant to start building casinos, may push to fruition as these states are looking for additional revenue streams to boost their state’s economy. On the flip side, states where there is limited casino gaming will pursue opportunities for expansion, such as states like New York and Florida.
- There will continue to be an increase in regional casino competition as slot parlors, racinos, as well as Native American Casinos continue to expand and provide additional upscale amenities. This will place additional pressure on destination casino resort cities, such as Atlantic City and Las Vegas.
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By Casinomom | 19th December 2011 | Casino News
Phil Hellmuth, 47, an eleven-time World Series of Poker bracelet winner, recently went back home to Madison, Wisconsin to host the second annual Hellmuth’s Hold’em – a charity event he does with Agrace HospiceCare.
Starting December 17, the proceeds from the tournament (as well as a silent auction as a raffle raffle), are going to the Agrace HospiceCare, a non-profit organization devoted to providing physical, spiritual, and emotional care to patients as well as their families dealing with life-shortening medical conditions throughout southern Wisconsin.
Two big prizes at the charity event this year include a 2012 World Series of Poker event seat and a Zimbrick Honda CR-V LX two year lease. Everyone is excited about signing up for this charity event.
There will be a lot of big name professional poker players also on hand on this event to provide a bit of extra support. These people include Annette Obrestad, Tony “D1rtyR1v3r” Nardi, Dewey Weum, and Eric “Basebaldy” Baldwin. Also at the event will be a number of local celebrities who will be moving from table to table and socializing with all the participants at the charity Texas Hold’em game.
Last year, a number of big name people came to participate in the game, including former New York Giants member Derek Engles, Casey FitzRandolph, an Olympic gold medalist in speedskating, Jerry Kelly, a professional golfer, as well as Mark Johnson, member of the 1980 Olympic ice hockey team.
240 people played last year and just about $140,000 was raised for the charity. Hellmuth is definitely looking to beat those numbers this year. So far, the organizers of the event are anticipating over 400 players for this year’s event.
The two day event is going to be located at the Wisconsin Institute for Discovery Town Center
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By Tina Paterson | 23rd November 2011 | Casino News
Three poker players from Italy were recently arrested for marking up a deck of cards using invisible ink and then wearing pairs of infrared glasses to see the marked cards at a casino in Cannes. As well, a French player, and two casino employees (one being the dealer), were also arrested for being a part of this scam.
There was suspicion about the Italian players as early as August when they left a casino with over $60,000 in just one night. There was no way the officials at the casino could confirm their suspicions and instead set up an undercover sting operation to catch them if they tried again. And try they did at the Les Princes Casino where they tried to get away cleanly after pocketing over $40,000.
The cheaters are alleged to have connections with organized crime groups. The French gaming officials are currently investigating any possible leads that may show if these con men were running the same scam in other casinos throughout Europe.
For this type of casino scam to be affective, the employee charged with dealing the cards must also be in on the scheme as they have to make sure the marked cards are in the deck.
This scam is very well known throughout the United States but not so much in Europe. If caught in the United States for this kind of ruse, poker dealers and player not only face a long prison sentence, but they will be barred from entering any casinos throughout the country. The punishment in France for this type of scam is not yet known.
Unfortunately, this is not the first casino scandal to come out of Europe in the last year. In 2010, a German poker professional, Ali Tekintamgac, was disqualified from the final table at the Partouche Poker Tour Main Event after the authorities at the tournament accused Tekintamgac of working with others posing as reporters for the tournament to walk around the floor and send signals regarding his opponents’ hole cards.
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By Casinomom | 26th October 2011 | Casino News
India offers visitors a lot to see, including timeless traditions, beautiful scenery, and amazing culture. Now India provides the opportunity for visitors to try their hand gambling at some of the magnificent world-class casinos in the area. Here is a description of some of the top casinos!
The Holiday Inn Goa Resort is located along 25 acres of beautiful beach front property and offers 170 rooms. The casino is called the Hacienda De Oro, which means “House of Gold.” It has a fun, eclectic Mexican-inspired ambiance and provides 150 different slot machines as well as a number of table games, including roulette and blackjack.
The Goldfinger Casino is located by the Cidade de Goa, a beachside resort that was designed after Portuguese hill hamlets. This casino is open for play 24 hours a day and offers visitors a real high-class gaming facility with more than 35 different slot machines, blackjack and roulette tables, as well as horse racing gambling options.
Right by the Ramada Caravela Beach Resort are two great casinos for high rollers. There is the MS Caravela, which is a deluxe casino cruise ship. Docking right off the coast of Panjim, this is the first high-limit gaming casino in India. It accommodates approximately 300 people along the 215 foot long ship. The ship is open every day and has a number of table games and slot machines. The other casino is the Goa Nugget. Known for its style and luxury, there are a number of gaming rooms with poker, roulette and blackjack tables open.
One last hotel and adjacent casino is the Majorda Beach Resort. Located along the white sandy beaches of India, it offers opulence to all who stay. Treasures Casino is located within the resort and allows visitors to gamble with a bit of flair. It offers a number of table games including different poker games, blackjack and baccarat, and it houses around 15 slot machines.
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By Dror Pumper | 1st September 2011 | Casino News
In the last decade, numerous women have decided to step out from behind the shadows and show that they have the capability to play poker and win the game too! What has been commonly known as a “boys only” game and consistently dominated by men in the past is now making way for many new top players…who all happen to be female. However, despite the boost in success by the fairer sex, women are still coming up just a tad bit short to the final poker table.
Anyone who loves the game of poker and keeps track of it on an international level knows that the World Series of Poker is seen as the premier poker event. There are more than 50 tournaments held annually. Players from every corner of the globe come to the main tournament held in Las Vegas, Nevada each year to win the coveted prize – a gold bracelet. An average of approximately 25 women can be seen at each World Series of Poker events.
Currently, it has been about 200 poker events since the last woman won the highly prized gold bracelet. While numerous women place in the money, they have just been unable to become the last person standing at the final poker tournament table when the game ends.
Vanessa Rousso and Annie Duke, two very high profile poker players within the World Series of Poker circle, are aiming to be the first female winner of the gold bracelet in the last three years. But it is not just these women who want it, but any woman coming into the World Series of Poker wants the bracelet to show they can “beat the boys at their own game,” so to speak. One female poker player had said that women want the gold bracelet because they want to show that women are just as good card players as men are.
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By Goodluck | 29th August 2011 | Casino News
When the United States Federal Government and the Department of Justice when on a rampage on April 15 and shut down the four main online poker websites, numerous professional online poker players lost their main source of income. More than 50,000 men and women were left without jobs or income to support themselves as well as their families. Many online poker players decided to pack up their entire lives and move up north to Canada where online poker playing is legal. Other online poker players made the switch to playing in poker tournaments at brick-and-mortar casino establishments. However, this has been quite a large adjustment for many poker players and many have not seen the kind of profits they did when they played online.
Online poker players became very familiar with styles of playing online and the different online poker rooms. Now many of them are traveling far distances to enter into poker tournaments. However, many are only playing a few hands and finding the atmosphere more depressing and less profitable due to the commute to the casino as well as room and board during the period of the tournament.
However, those looking to move to the United States’ neighbor to the north are finding a number of problems when trying to maintain their online poker presence. Many are actually getting stopped along the Canadian border because they have listed “online poker player” as their profession on their work visa. A number of countries are making it rather hard for these people to move to other countries due to the anti-online gambling laws the United States have in place. With the future of online gambling very unsure in the United States, many are filing for unemployment and/or looking for other things they are good at to obtain employment until the laws against online casinos possibly change.
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By Casinomom | 3rd July 2011 | Casino News
After six months of renovations, the Plaza Hotel and Casino in downtown Las Vegas is going to reopen. The operators of the casino are putting in the effort to ensure the casino has a valued edge over its competition. Renovations include a new sitting area, new slot machines, new carpeting, and new ceilings.
The total cost of renovation the Plaza Hotel and Casino is around $35 million and began in November of last year and will finally reopen to the public sometime in August. Tony Stano, the CEO and President of Play LV, the operators of the casino said that even though they are introducing more modern renovations to the hotel and casino, a lot of the classic charm that has existed since the Plaza opened its doors more than four decades ago will still be around, including the historic, original chandeliers.
Santos stated that the remodeling project comes at a positive turning point for the downtown area of Las Vegas. With new entertainment venues and businesses opening up, he believes that they are in a much better position to take complete advantage of the post-recession mindset that is much more value oriented. Santo is excited to start livening up downtown Las Vegas once more.
In just a few short weeks the Plaza Hotel and Casino will announce the various restaurants coming into the place, along with a nightclub and a show. The new Plaza will also have 800 jobs available, including management and entry-level positions. This is more than double the total amount of employees prior to renovations. Those employees who were let go prior to the remodeling job will have their job to return to when the doors reopen. To get employees, the Plaza is going to host a job fair for two weeks. Possible applicants are requested to go to the Plaza’s website and click on the “careers” tab to submit their application as well as schedule an interview.
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By Tina Paterson | 29th June 2011 | Casino News
A number of employees with Victory Casino Cruises walked along the gangway to a job working on the Victory 1 – billed as “America’s Largest Casino Cruise Ship.” If everything goes according to the initial plan and the Victory 1 passes the United States Coast Guard inspection, it should begin sailing by the end of June.
Originally slated to take off in November 2010, the date had been pushed back a few times. However, the operators have said that the delays were due to retaining the ship via bankruptcy proceedings. It was also due to needing to complete the multi-million dollar top-to-bottom renovation plan. This includes over 5,000 square feet of brand new carpeting, new fixtures, seating, signs, and brand new, high-tech state of the art gaming machines.
A lot of interest over the impending success of the Victory 1 has been sparked. First of all, the floating casino is said to provide 300 new jobs to people. As well, numerous gamblers are interested in a gambling cruise because they enjoy it much more than land-based casinos in the area.
Every passenger on board the Voyage one is going to have to pay a fee of $10 for admission which will allow them to enjoy the five hour cruise. Guests will receive complimentary drinks while they are gambling. There will also be a buffet available on board for an additional price. The ship itself will have four distinct levels. This will include a nightclub, known as “Club V,” and a sports lounge. The second and third decks of the boat will be used specifically for gaming. To make the boat more accessible, the operators of Victory 1 are planning to create a regional-based shuttle bus program in concert with local area hotel operators. This one program is said to bring a minimum of 160,000 passengers annually to the Victory 1.
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