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Wednesday, May 5, 2010
Macau Gambling Revenue Continues To Break Records In April
The Macau casino gambling industry has long passed Las Vegas as the gaming capital of the world. By the looks of the latest revenue figures for the month of April, it does not appear that Macau is going to be giving up that title anytime soon.
For April, revenue at Macau casinos was $1.76 billion. That was a one month record for Macau, with the previous record being set back in January. The increase in revenue for April was 70% higher than the same period a year ago.
Last year in April, Macau casinos were dealing with visa restrictions imposed by the Chinese government. Residents of the mainland were limited in how many times they could visit Macau, and it made a big difference in the overall revenue.
"Macau has undoubtedly become the biggest gaming destination in the world, and it will be interesting to see whether they can keep that up as the government attempts to limit the gaming options," said Gaming Analyst Steve Schwartz. "The government and the existing casinos seem to agree that more is not always better."
Las Vegas Sands is already working on an expansion project that was in the works before the government decided to step in and stop all future growth. The Macau government is allowing Sands and other developers to complete their projects that have already been approved.
While Macau casinos are thriving, Las Vegas casinos are still trying to recover from the economic recession. In the past, the gaming industry has been somewhat immune to any form of a recession, but this time around, Atlantic City and Las Vegas were ravaged by the economic woes of the US.
For April, revenue at Macau casinos was $1.76 billion. That was a one month record for Macau, with the previous record being set back in January. The increase in revenue for April was 70% higher than the same period a year ago.
Last year in April, Macau casinos were dealing with visa restrictions imposed by the Chinese government. Residents of the mainland were limited in how many times they could visit Macau, and it made a big difference in the overall revenue.
"Macau has undoubtedly become the biggest gaming destination in the world, and it will be interesting to see whether they can keep that up as the government attempts to limit the gaming options," said Gaming Analyst Steve Schwartz. "The government and the existing casinos seem to agree that more is not always better."
Las Vegas Sands is already working on an expansion project that was in the works before the government decided to step in and stop all future growth. The Macau government is allowing Sands and other developers to complete their projects that have already been approved.
While Macau casinos are thriving, Las Vegas casinos are still trying to recover from the economic recession. In the past, the gaming industry has been somewhat immune to any form of a recession, but this time around, Atlantic City and Las Vegas were ravaged by the economic woes of the US.
Missouri Casino Gaming License Drawing Much Interest
Pinnacle Entertainment will be giving back their casino license for the President Casino in St. Louis, Missouri, and already there has been major interest in obtaining the license. Over a dozen developers or cities have already expressed interest in obtaining the license.
The President Casino has been watching their revenue decrease over the past several years. New casinos have opened in St. Louis, and the competition, combined with an aging riverboat, have caused attendance to drop off drastically recently.
Pinnacle had planned to battle the Missouri Gaming Commission in court for the right to keep the President open, but changed their minds earlier this month. The company agreed to give the license back and close the casino in exchange for the Commission dropping fees associated with fines accumulated from the President Casino.
The city of St. Louis has already expressed that they would like to keep the license in the city. The state will give St. Louis the opportunity to do so, but they also will seek applications from other cities in the state.
Pinnacle has other casino interests in St. Louis, namely the new Lumiere Place that has recently opened. The company has said that they may seek the license that comes open from the President Casino closure, but they have made no definitive plans to do so.
Missouri currently has thirteen gaming licenses that are allowed under state law. Twelve of the thirteen are in use, and the President license will come open after July 1st. The Gaming Commission has asked all interested parties to submit letters stating their interest, and thirteen groups have already replied.
The President Casino has been watching their revenue decrease over the past several years. New casinos have opened in St. Louis, and the competition, combined with an aging riverboat, have caused attendance to drop off drastically recently.
Pinnacle had planned to battle the Missouri Gaming Commission in court for the right to keep the President open, but changed their minds earlier this month. The company agreed to give the license back and close the casino in exchange for the Commission dropping fees associated with fines accumulated from the President Casino.
The city of St. Louis has already expressed that they would like to keep the license in the city. The state will give St. Louis the opportunity to do so, but they also will seek applications from other cities in the state.
Pinnacle has other casino interests in St. Louis, namely the new Lumiere Place that has recently opened. The company has said that they may seek the license that comes open from the President Casino closure, but they have made no definitive plans to do so.
Missouri currently has thirteen gaming licenses that are allowed under state law. Twelve of the thirteen are in use, and the President license will come open after July 1st. The Gaming Commission has asked all interested parties to submit letters stating their interest, and thirteen groups have already replied.
3 companies tell gaming commission of interest in Cape casino
Three development companies have told the Missouri Gaming Commission they are interested in obtaining a gambling license for Cape Girardeau, the commission announced Tuesday.
Eight other companies have said they are interested in the license, but four of them did not name where they want to put casino if they get the license that will become available July 1. Missouri law imposes a limit of 13 casinos statewide, and the lone available license is up for grabs because the President Casino in St. Louis must close.
Four localities -- Cape Girardeau, Sugar Creek, Mo., Louisiana, Mo., and St. Louis -- sent letters of interest, making a total of 15 letters to the commission.
Dream Big LLC, a partnership of local businessmen David Knight and Jim Riley, answered the commission's call for expressions of interest in obtaining the license. Knight and Riley have put together real estate holdings on North Main Street and in 2008 unsuccessfully fought the law that imposed the license limit.
Another company is St. Louis Capital Partners LLC, an Alton, Ill.-based firm formed by former officers of Argosy Gaming Co., one of the early players in riverboat casino development in Illinois and Missouri, said Joe Uram, one of three principals in the company. Argosy was purchased by Penn National Gaming in 2005.
The third company expressing interest in Cape Girardeau is called Unbridled Entertainment, with M. Shawn Cox named as the contact person. No company by that name has been organized in Missouri, and LeAnn McCarthy, spokeswoman for the commission, said all she knows about the company is that it gave a Mason, Ohio, address.
City manager Scott Meyer said he had been contacted by a representative of Unbridled Entertainment and said the company has gambling interests elsewhere.
Commission staff will meet May 18 with all the interested parties at an open meeting for a discussion of the license application process. The staff will be interested to know how long it will take casino companies to prepare applications, with the commission itself considering a timetable at its May 27 meeting, McCarthy said.
Cape Girardeau is an attractive market because it is underserved, Uram said. A casino in Cape Girardeau could draw customers from a large portion of southwestern Illinois, he said.
"We like the opportunity to attract out-of-state dollars," Uram said. "Casino gambling is an industry with voluntary taxation, so Illinois taxpayers volunteering to pay money to the state of Missouri is an attractive feature, whether it is in Cape Girardeau or St. Louis or St. Louis County."
Uram was chief financial officer for Argosy. Other members of St. Louis Capital Partners LLC are Tom Long and Jeff Roberts, both former top officials with Argosy. All have held top-level Missouri gaming licenses.
Cape Girardeau has been approached by all three of the companies that expressed interest, Meyer said. He said he intends to meet with leaders of the Cape Girardeau Area Chamber of Commerce and Cape Girardeau Area Magnet to begin developing a list of requirements a casino operator should meet to win endorsement from the city.
The level of interest in Cape Girardeau is encouraging, Meyer said. "That to me says that at least the people in the know believe that Cape is a good location."
The process for selecting a casino partner for the city will be conducted openly, Meyer said.
"We'll probably have an initial meeting asking them to tell us what their vision is, why they are the right match, and anybody who wants to can come and participate in it," he said.
Any company chosen will have to be an asset to the city, not a liability or a drain, Meyer said. Infrastructure upgrades to prepare a property for a casino will need to be underwritten by the casino, he said, and the right company will want to be a part of, not change, the city's vision in the Comprehensive Plan and the DREAM Initiative master plan.
"We are not looking to turn the community into something we are not now," Meyer said.
Eight other companies have said they are interested in the license, but four of them did not name where they want to put casino if they get the license that will become available July 1. Missouri law imposes a limit of 13 casinos statewide, and the lone available license is up for grabs because the President Casino in St. Louis must close.
Four localities -- Cape Girardeau, Sugar Creek, Mo., Louisiana, Mo., and St. Louis -- sent letters of interest, making a total of 15 letters to the commission.
Dream Big LLC, a partnership of local businessmen David Knight and Jim Riley, answered the commission's call for expressions of interest in obtaining the license. Knight and Riley have put together real estate holdings on North Main Street and in 2008 unsuccessfully fought the law that imposed the license limit.
Another company is St. Louis Capital Partners LLC, an Alton, Ill.-based firm formed by former officers of Argosy Gaming Co., one of the early players in riverboat casino development in Illinois and Missouri, said Joe Uram, one of three principals in the company. Argosy was purchased by Penn National Gaming in 2005.
The third company expressing interest in Cape Girardeau is called Unbridled Entertainment, with M. Shawn Cox named as the contact person. No company by that name has been organized in Missouri, and LeAnn McCarthy, spokeswoman for the commission, said all she knows about the company is that it gave a Mason, Ohio, address.
City manager Scott Meyer said he had been contacted by a representative of Unbridled Entertainment and said the company has gambling interests elsewhere.
Commission staff will meet May 18 with all the interested parties at an open meeting for a discussion of the license application process. The staff will be interested to know how long it will take casino companies to prepare applications, with the commission itself considering a timetable at its May 27 meeting, McCarthy said.
Cape Girardeau is an attractive market because it is underserved, Uram said. A casino in Cape Girardeau could draw customers from a large portion of southwestern Illinois, he said.
"We like the opportunity to attract out-of-state dollars," Uram said. "Casino gambling is an industry with voluntary taxation, so Illinois taxpayers volunteering to pay money to the state of Missouri is an attractive feature, whether it is in Cape Girardeau or St. Louis or St. Louis County."
Uram was chief financial officer for Argosy. Other members of St. Louis Capital Partners LLC are Tom Long and Jeff Roberts, both former top officials with Argosy. All have held top-level Missouri gaming licenses.
Cape Girardeau has been approached by all three of the companies that expressed interest, Meyer said. He said he intends to meet with leaders of the Cape Girardeau Area Chamber of Commerce and Cape Girardeau Area Magnet to begin developing a list of requirements a casino operator should meet to win endorsement from the city.
The level of interest in Cape Girardeau is encouraging, Meyer said. "That to me says that at least the people in the know believe that Cape is a good location."
The process for selecting a casino partner for the city will be conducted openly, Meyer said.
"We'll probably have an initial meeting asking them to tell us what their vision is, why they are the right match, and anybody who wants to can come and participate in it," he said.
Any company chosen will have to be an asset to the city, not a liability or a drain, Meyer said. Infrastructure upgrades to prepare a property for a casino will need to be underwritten by the casino, he said, and the right company will want to be a part of, not change, the city's vision in the Comprehensive Plan and the DREAM Initiative master plan.
"We are not looking to turn the community into something we are not now," Meyer said.
Rolling the Casino Dice
Although four communities are seeking new gambling licenses, the proposal to build the Diamond Jo Fort Dodge casino dominated Tuesday's meeting of the Iowa Racing and Gaming Commission.
A parade of 44 people told the state officials how they believe the casino would create more jobs, more entertainment options, more tax revenue and more money for nonprofit groups if a license for it is approved.
''It's about the jobs and making Fort Dodge a destination spot,'' said Cheryl O'Hern, the local manager of Frontier Communications.
In her remarks to the commission, Karen Wood, of Fort Dodge, described the proposed casino as a beacon ''that will help tell the world where our city is located.''
Many of the people who stepped to the podium wore blue shirts bearing the slogan ''Webster County is All In.'' Hundreds of other people wearing the same shirts filled rows of chairs in a large meeting room at the Stoney Creek Inn & Conference Center. Casino advocates said 230 supporters of the Diamond Jo Fort Dodge were on hand.
Opponents of the casino had their say as well. One of them, Blair Conley, of Fort Dodge, mocked the casino advocates' slogan.
''Gambling is sin, we're not all in,'' he said.
Conley described gambling as a ''systematic structure to take wealth from the unwary and give it to those who didn't work for it and don't deserve it.''
The Fort Dodge proposal was also attacked by supporters of the Wild Rose Emmetsburg casino, who believe a new gaming establishment in northern Iowa will steal some of that casino's business.
Tom Timmons, a vice president of Wild Rose Emmetsburg, said his casino would lose 21 percent of its revenue to a Fort Dodge competitor.
''It would turn us upside down,'' he said.
State Rep. Marcella Frevert, D-Emmetsburg, spoke against issuing a license for the Fort Dodge project.
''Please do not vote to diminish and cannibalize one community for the sake of another,'' she said.
Altogether, 14 people spoke against the Fort Dodge project.
Although they were heavily out-numbered by casino backers, many of the opponents of the plan went to the podium first. Bob Wood, of Fort Dodge, was the first supporter of the plan to speak to the commission.
''I'm here to turn the tide,'' he said, as casino backers cheered.
''A casino for Webster County presents exactly the kind of boost our citizens need,'' Wood said.
Tim Burns, of Fort Dodge, tried to refute the complaints of Emmetsburg casino backers.
''Emmetsburg didn't protest our last casino attempt and they have no grounds to oppose this attempt,'' he said.
City Manager David Fierke; City Engineer Chad Schaeffer; Dennis Plautz, director of business affairs and community growth; Lori Branderhorst, director of parks, recreation and forestry; and Rhonda Chambers, director of aviation at Fort Dodge Regional Airport, all spoke in favor of the casino. Acting Police Chief Doug Utley and Acting Fire Chief Woody Wolfe attended the meeting in uniform, but did not address the commission.
Councilwoman Margy Halverson-Collins was the only elected official to speak in favor of the Fort Dodge casino.
Letters of support from state Sen. Daryl Beall, D-Fort Dodge, and state Rep. Helen Miller, D-Fort Dodge, were read.
The controversy over donations made by casino backers Steve Daniel, Jim Kesterson and Merrill Leffler Jr. to the re-election campaign of Gov. Chet Culver was mentioned briefly by some opponents of the plan. There was no in-depth discussion of that matter during the daylong meeting.
Casino proposals from Lyon County, Ottumwa and Tama did not generate as much discussion as the Fort Dodge plan did. There were no public comments on the Lyon County plan.
The commission members took no action on any of the proposals during a meeting that began at 9:30 a.m. and ended at 6:30 p.m. Commission members are scheduled to make decisions on issuing new casino licenses on May 13.
A parade of 44 people told the state officials how they believe the casino would create more jobs, more entertainment options, more tax revenue and more money for nonprofit groups if a license for it is approved.
''It's about the jobs and making Fort Dodge a destination spot,'' said Cheryl O'Hern, the local manager of Frontier Communications.
In her remarks to the commission, Karen Wood, of Fort Dodge, described the proposed casino as a beacon ''that will help tell the world where our city is located.''
Many of the people who stepped to the podium wore blue shirts bearing the slogan ''Webster County is All In.'' Hundreds of other people wearing the same shirts filled rows of chairs in a large meeting room at the Stoney Creek Inn & Conference Center. Casino advocates said 230 supporters of the Diamond Jo Fort Dodge were on hand.
Opponents of the casino had their say as well. One of them, Blair Conley, of Fort Dodge, mocked the casino advocates' slogan.
''Gambling is sin, we're not all in,'' he said.
Conley described gambling as a ''systematic structure to take wealth from the unwary and give it to those who didn't work for it and don't deserve it.''
The Fort Dodge proposal was also attacked by supporters of the Wild Rose Emmetsburg casino, who believe a new gaming establishment in northern Iowa will steal some of that casino's business.
Tom Timmons, a vice president of Wild Rose Emmetsburg, said his casino would lose 21 percent of its revenue to a Fort Dodge competitor.
''It would turn us upside down,'' he said.
State Rep. Marcella Frevert, D-Emmetsburg, spoke against issuing a license for the Fort Dodge project.
''Please do not vote to diminish and cannibalize one community for the sake of another,'' she said.
Altogether, 14 people spoke against the Fort Dodge project.
Although they were heavily out-numbered by casino backers, many of the opponents of the plan went to the podium first. Bob Wood, of Fort Dodge, was the first supporter of the plan to speak to the commission.
''I'm here to turn the tide,'' he said, as casino backers cheered.
''A casino for Webster County presents exactly the kind of boost our citizens need,'' Wood said.
Tim Burns, of Fort Dodge, tried to refute the complaints of Emmetsburg casino backers.
''Emmetsburg didn't protest our last casino attempt and they have no grounds to oppose this attempt,'' he said.
City Manager David Fierke; City Engineer Chad Schaeffer; Dennis Plautz, director of business affairs and community growth; Lori Branderhorst, director of parks, recreation and forestry; and Rhonda Chambers, director of aviation at Fort Dodge Regional Airport, all spoke in favor of the casino. Acting Police Chief Doug Utley and Acting Fire Chief Woody Wolfe attended the meeting in uniform, but did not address the commission.
Councilwoman Margy Halverson-Collins was the only elected official to speak in favor of the Fort Dodge casino.
Letters of support from state Sen. Daryl Beall, D-Fort Dodge, and state Rep. Helen Miller, D-Fort Dodge, were read.
The controversy over donations made by casino backers Steve Daniel, Jim Kesterson and Merrill Leffler Jr. to the re-election campaign of Gov. Chet Culver was mentioned briefly by some opponents of the plan. There was no in-depth discussion of that matter during the daylong meeting.
Casino proposals from Lyon County, Ottumwa and Tama did not generate as much discussion as the Fort Dodge plan did. There were no public comments on the Lyon County plan.
The commission members took no action on any of the proposals during a meeting that began at 9:30 a.m. and ended at 6:30 p.m. Commission members are scheduled to make decisions on issuing new casino licenses on May 13.
Tuesday, May 4, 2010
China Continues Internet Casino Persecution
Like some other, suposedly more liberal, counties, China is grappling with ways to prevent its residents from gambling at Internet casinos. Unlike those other nations, China has virtually no restriction on government actions, allowing it extreme measures to dissuade online casino play.
An announcement by the Chinese government today emphasized the plan to block hostile Internet influences operating outside its borders. Among the types of online sites targeted by the Chinese are gambling, pornography, and fradulent operations, and also political and informative sites and even search engines such as Google.
Google said last month it would no longer cooperate with Chinese censorship, and relocated its Chinese search engine to Hong Kong.
"We will strengthen the blocking of harmful information from outside China to prevent harmful information from being disseminated in China and withstand online penetration by overseas hostile forces," said the head of the governmental Information Office.
The government has enacted a law requiring Internet service providers to report users discussing state secrets. The category of state secrets is so broadly defined that virtually any issue desired can be linked to security.
Online gambling operators have received lengthy prison sentences, while three protesters posting articles about a pregnant woman who died in police custody were imprisoned for slander.
An announcement by the Chinese government today emphasized the plan to block hostile Internet influences operating outside its borders. Among the types of online sites targeted by the Chinese are gambling, pornography, and fradulent operations, and also political and informative sites and even search engines such as Google.
Google said last month it would no longer cooperate with Chinese censorship, and relocated its Chinese search engine to Hong Kong.
"We will strengthen the blocking of harmful information from outside China to prevent harmful information from being disseminated in China and withstand online penetration by overseas hostile forces," said the head of the governmental Information Office.
The government has enacted a law requiring Internet service providers to report users discussing state secrets. The category of state secrets is so broadly defined that virtually any issue desired can be linked to security.
Online gambling operators have received lengthy prison sentences, while three protesters posting articles about a pregnant woman who died in police custody were imprisoned for slander.
Casino Gambling Begins In New Brunswick Today
On Tuesday, another Canadian province will open their doors to casino gambling for the first time. Casino New Brunswick will open with the intention of providing entertainment for customers, while bringing in millions of dollars in revenue.
The government is hoping that the casino becomes a big success. Early estimates are that the casino could generate $25 million annually. That would be beneficial for both the casino developer, Sonco Gaming New Brunswick, Ltd., and the government.
Casino New Brunswick took $90 million and several years to develop. The casino will be home to 500 slot machines and twenty-two table games. A poker room with eight poker tables will also be available to customers. Government officials are excited about the possibilities.
"We think it's going to help to bring some business to New Brunswick, to the Moncton region certainly, and create 400 jobs," said Marc Belliveau, spokesman for the Department of Finance, as reported by The Canadian Press, "so the spin-offs associated with this kind of gaming center are very, very positive for the province."
While the revenue will be great, some government officials believe that the social ills will also be many. The concern is that the casino will lead more people down the path of gambling addiction. Increased crime is also a possibility, according to several casino opponents.
Casinos have become commonplace in Canada. With the opening of the New Brunswick casino today, only Prince Edward Island and Newfoundland and Labrador are left without casino gambling. Several provinces are also looking into the possibility of regulating online gambling.
The government is hoping that the casino becomes a big success. Early estimates are that the casino could generate $25 million annually. That would be beneficial for both the casino developer, Sonco Gaming New Brunswick, Ltd., and the government.
Casino New Brunswick took $90 million and several years to develop. The casino will be home to 500 slot machines and twenty-two table games. A poker room with eight poker tables will also be available to customers. Government officials are excited about the possibilities.
"We think it's going to help to bring some business to New Brunswick, to the Moncton region certainly, and create 400 jobs," said Marc Belliveau, spokesman for the Department of Finance, as reported by The Canadian Press, "so the spin-offs associated with this kind of gaming center are very, very positive for the province."
While the revenue will be great, some government officials believe that the social ills will also be many. The concern is that the casino will lead more people down the path of gambling addiction. Increased crime is also a possibility, according to several casino opponents.
Casinos have become commonplace in Canada. With the opening of the New Brunswick casino today, only Prince Edward Island and Newfoundland and Labrador are left without casino gambling. Several provinces are also looking into the possibility of regulating online gambling.
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