By Dror Pumper | 12th February 2012 | Online Casino News
Calvin Ayres, the founder of Bodog online entertainment and gaming brand, has made a number of predictions for 2012 regarding the online casino industry (after finding that his 2011 predictions pretty much held true). Here is a look at some of those predictions made in regards to different locations around the world.
Europe
There will be not a lot in terms of significant developments in the online gambling industry. Ayres has stated that “with faith in a common currency significantly shaken in 2011, the ongoing Balkanization of Europe’s gambling markets will only accelerate.”
America
Ayres long predicted that there would be no positive momentum for legislation regarding online gambling at a federal level even before the United State’s Department of Justice admitted that their Wire Act did not go past sports betting. However, with the recent announcement by the Department of Justice, it can be seen that the states are the ones holding onto the gambling decisions. in 2012, there is a 50 percent likelihood that one of two states will do emote gambling.
Asia
The Asian market is still in the infants’ stage, but it is much bigger than the rest of the world if individuals take a look at its brick-and—mortar casino profits. There has been no determination in regards to the companies that will be making a name for themselves in this region, but it will most likely not be public companies.
Latin America
While the continent of Latin America and never rival the continent of Asia in regards to scale; however, as far as gambling terms, Latin America is still mainly a virgin territory. With recent economic downturns hitting a majority of the area, causing the countries to look for new venues for money, Latin America may be second best (right behind Asia) market for targeting during the 2012 calendar year.
India
India is a huge market that tends to get overlooked a lot. Once an online gambling company figures out how to open this market, it will be like a slot machine getting all cherries – huge payout!
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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 Tina Paterson | 6th February 2012 | Casino Game Updates
Many casinos are hoping to definitely cash in the weekend of the Super Bowl, which pits the New York Giants against the New England Patriots. It is considered to be the biggest single-day sporting event. Many casinos believe that the crowds on Super Bowl day will surpass the crowds they had during New Years Eve. There is also a possibility that the Super Bowl this year will be heading in to sportsbooks’ record history.
Everyone has their own reasons for betting on a different team – they are either from the area or have strong ties to the area where the teams are from, they like a team that did not make it to the Super Bowl so they are rooting for their next favorite, or they do not like one of the teams and are therefore going with the others. Some people are relying on their gut emotions to place bets while others do a lot of hardcore strategizing and scouring over stats before placing their bet.
It does not matter if these men and women place just $20.00 or hundreds of dollars on the win, the biggest winter of the day will be the casinos. These are two of the most popular NFL teams going at it, one sportsbook director said, and therefore, people are making much larger bets than normal.
Everything is being betted on, not just who wins. Bets include the number of passes, who will have the ball first, who will have it last, which player will fumble first, and even who is going to have the first interception in the game.
While most bets that are coming in are favoring the Patriots, bets for the Giants are still coming in, making the point spread much greater.
With $87 million wagered on the Super Bowl last year, it is becoming evident that this will be surpassed this year.
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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 Keila Brown | 19th January 2012 | Casino Game Updates
After Black Friday, online poker was put into shambles. Even with news that the United States may be opening up for the legalization of online poker, many online poker sites are feeling wary and are discouraged from making an entrance into the United States market. With the population in the United States still barred in the meantime from playing online poker, these companies are now looking elsewhere for alternative markets. One of the primary strategies that have emerged is to look into the market in developing countries, including India and around Asia.
Media Entertainment Consulting Network recently published a report pointing out that India and a number of Asian countries would be great potential markets for the introduction of online poker. 2UP also recently published a report that there is a potential market, which has been proven by an increase in the number of players from Asia and India looking to want to play online poker and win real money.
Media Entertainment Consulting Network started further that the current potential market in India for online poker is somewhere around $50 million dollars. A number of reports are coming out and saying that India offers the highest growth potential when it comes to online poker. However, it is important to note that gambling is currently illegal in India and the country has yet to publish statements regarding online poker.
South America is another location many online poker companies are starting to look into. While online gambling is often frowned upon, the latest economic crisis that has hampered the entire region over the last few years has pushed some countries to look further into online poker and open up their borders to it. Guyana, Antigua, and Barbados have established themselves to be part of the current online poker circuit.
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By vince.baker | 17th January 2012 | Casino Game Updates
On Saturday, the 17 of December, 2011 in Madison, Wisconsin, Phil Hellmuth held his Second Annual Phil Hellmuth’s Hold’em with Agrace HospiceCare. It is a poker tournament themed charity event, as well as a silent auction and raffle, designed to increase awareness and raise money for Agrace HospiceCare.
The even brought in a fun mix that included over 250 players, as well as supporters and observers. Some of the people playing included Annette Obrestad, the 2007 World Series of Poker Europe Champion, Dewey Weum, fourth place finisher at the 1998 World Series of Poker event, and a few online pros, including Mark “P0ker H0” Kroon (who was the defending champion) and Anthony “D1rtyR1v3r” Nardi. There was also a number of local celebrities, including Mark Johnson, Leigh Mills, Charlie Shortino, Carleen Wild, and Jerry Kelly.
The event was held at the Wisconsin Institute of Discovery, located in the downtown area of Madison.
Those who were there stated it was a fun affair with a laid back atmosphere and lots of laughing.
The winner of the charity poker tournament event was Laura Schultz. At the final table, it was Schultz, Kroon, Nardi, John Green, and Morgan Machina. While Kroon came very close to defending his current title, he finished fourth place. In the end, it was head-to-head between Schultz and Green, and Shultz took him over with a winning hand.
However, Shultz’ trophy as the winner were not the only prizes to be had. Many were waiting around for the raffle to see who would win the seat at the 2012 World Series of Poker event and who would win the two year lease for a 2012 Honda Civic LX. The winner of the seat was Jerry Mistele, and the winner of the car was Tiffany Schreiber.
In the end, $110,000 was raised at the charity event and the wheels are currently in motion for planning next year’s charity poker tournament event. There have even been some big celebrity names tossed around for next year, so who knows!
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By Keila Brown | 16th January 2012 | Online Casino News
The current problems going on with the Euro throughout Europe’s Eurozone is starting to wreak havoc on casinos throughout Switzerland, especially in Ticino, which is near the Switzerland – Italy border and has the largest concentration of casinos found anywhere in Europe. While Ticino is no Las Vegas, it does have a number of casinos, include the largest in Europe.
The federal government of Switzerland mandates that the casinos pay a percentage of all profits to the state. And while they were still able to provide some money to the federal government, it is not as much as they have been able to. Between the newly created smoking ban in casinos, coupled with the current economic crisis and the introduction of video lotteries throughout Italy, the casinos have lost a minimum of 40 percent of their gross gaming revenues.
The situation is made even more difficult because employees as well as suppliers are paid in Swiss currency, Francs, while most people play the games in Euros, which has lost approximately 25 percent of their total value since the onset of 2010. While Italian players still use the same amount of Euros, the Euro crisis means much fewer Swiss Francs.
The casino will not cut out services to their clients, but will have to reorganize internally a bit without compromising quality. The casino does not want people to stop coming. They are also hoping that soon the economy will be in an upswing and the Euro crisis will dissipate.
One final measure to aid the casinos will be to try to renegotiate the profit revenues given to the federal government. Currently, casinos pay close to 50 percent to the government. However, the Swiss government rebuffed the request to change the amount paid.
There are no exact predictions for the future if the Euro crisis continues other than that the Ticino casinos will have start reducing investments and costs if the exchange rate does not start going in their favor.
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By Dror Pumper | 12th January 2012 | Online Casino News
According to PricewaterhouseCoopers’ recently released Global Gaming Outlook, the Asia Pacific Region will be the fastest growing in terms of the casino gaming industry over the next five years. The gaming revenue is said to increase from $34.3 billion US to a projected $79.3 billion US by 2015.
However, despite these numbers, the online casino industry is currently illegal in Singapore. Jonathan Galaviz, a gaming analyst said that the governments in the area should really try to seize this growing opportunity rather than push it away as there is huge growth in online gaming. The report published by PricewaterhouseCoopers said that there is a very strong argument right now in the area that as consumers continue to engage in websites offering illegal online gambling opportunities, it is much better to provide licenses and tax it, rather than allowing unlicensed operators to continue to amass large amounts of revenue.
Galaviz said that the Singapore government should do some serious research regarding the issue of online gambling and bring it up during policy discussions. However, not all gaming analysts have taken the same approach as Galaviz. Felix Ling, a senior partner and casino consultant at Platform Asia Management Services said that by legalizing online casinos in Singapore, it will create a devastating social impact. Derek da Cunha, the author of “Singapore Places its Bets,” agreed with Ling. He stated that if online gambling were to be legalized in Singapore, it would bring in new players who do not really know what online gambling is. The social consequences would be that people, rather than work, would be using their computers only for gambling purposes.
But the “social consequence” argument is not as strong as people would like to believe. If it was a strong argument, then how could it explain the opening of two brick-and-mortar casinos in Singapore in 2010? These casinos have amassed over $4.4 billion US in 2011. Think about what kind of revenue online gambling could bring in? It seems as though Singapore would like to think that online gambling is a much bigger evil than physical casinos.
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By Dror Pumper | 10th January 2012 | Online Casino News
With Denmark recently deregulating their online gambling industry, witnesses are marveling as the sector continues to open up. As of January 01, 2012, Denmark will officially be a brand new online gambling licensing jurisdiction. Denmark also signed a bilateral cooperation agreement with licensing bigwig the Isle of Man, mainly to learn how to be a successful licensing jurisdiction. This agreement will be formalized as well on January 01, 2012. Denmark has also created a similar agreement with the Alderney Gambling Control Commission as well.
In the Czech Republic, the accidental passing of a new piece of legislation has the country doing some massive backpedaling. Recently the parliament’s lower house passed legislation stating that video lottery terminal operators would be offered a €77.7 million tax break. This has created much firestorm in the media. A 20 percent tax on the video lottery terminal revenue is also cites to become split between three groups – local municipalities, education, and charities as to be determined by the local gambling industry. However, it was originally only supposed to be split between the municipalities and the education. But the controversial wording has everyone up in arms right now.
Lastly, Greece has recently passed a number of laws that look as though they will be challenged by the Remote Gambling Association in court. It is to take place at the beginning of the New Year. However, with this last year not faring well for Greece in terms of their economy, no one knows if 2012 holds anything much better, especially as far as the online casino industry is concerned. Cyprus also looks like it could be changing very quickly. While it is currently considered a haven for not just British retirees but also the remote gambling industry, things look like it could be changing for the latter, and not in a positive direction. Stay tuned for the New Year to find out more.
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