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The Casino Regulatory Authority (CRA) gave the green light for two junket promoters to operate in Singapore and it seems that the gambling business in Singapore looks set to grow to a massive scale.
On Thursday evening, the authority gave out the first casino junket licenses to two Malaysian operators, even as they tightened its junket guidelines to give CRA more forethought in making a decision whether or not to issue a license and also how many it will issue.
This move by Singapore’s Casino Regulatory Authority of awarding junket licenses to two Malaysian operators will allow casino operators here to extend their international reach. Even as junket rules are tightened, this the first time the CRA has granted the license. The tightening of the junket rules is to ensure the operators do not target permanent and locals residents.
Low Chong Aun and Huang Yu Kiung are the two Malaysian operators who were issued junket licenses after a series of stringent checks that lasted more than a year. These operators have an international client base. Resorts World Sentosa endorses both of them and the licenses issued will be valid for only a year. Marina Bay Sands said it has not yet endorsed any junket operator. The two approved junket promoters can commence operations immediately.
The CRA said it is in the midst of conducting probity checks for these applications and it is currently evaluating a few other applications. In exchange for a commission, junket promoters are third party agents facilitating high rollers’ trips to casinos. To ensure credit arrangements for their clients, it is common for them.
The successful operators had to pass probity checks. These checks will involve both their financial histories and track records examined, and the applicants will have to deal with face-to-face interviews. Twelve other operators were rejected on account of various reasons. Some were rejected on grounds of having funds unaccounted for. The CRA authority refused to say how many have applied, although they disclosed that there are other applicants waiting for their decisions.
The slot machine was once an after thought to casinos in the early days of gambling in Las Vegas. Most older gamblers did not trust the mechanical gambling devices and they flocked to the table games to gamble their money with actual dealers, dice and cards.
Now casinos feature four to five times as many slot machines as they did in the early days of Las Vegas. The trend is more profound on Indian reservations and jurisdictions away from Las Vegas.
Once corporations began to buy gaming companies and become gaming companies, they saw the slot machines as an employee who never needed a break and never talked back. Slot machines don’t try to unionize and they rarely make a mistake.
Now slot machines are high-tech and sped up by the player to give faster results and of course make more money for the casino. The slot machines are also used to gather information on a player. How fast does the player play? How much does the player play and do they ever walk away with a win. A “good player” for the casino is one who plays fast, loses all their money and plays for extended period of times.
Slot machines have come a long way from their simple timing reels that would spin randomly. Now they are computer marvels that lure players in with high quality graphics and noises designed to peak their interest. The next time you walk by a slot machine that is compelling to play, you will see first hand how the slot design teams have taken every step to attract you to play their machine.
As the Mississippi River began to go up in April, Casinos along the Mississippi River saw a plunge in revenue. Compared to April 2010, casinos in South Mississippi also were downward for the month.
Winnings at the Coast casinos fell to $87.4 million from $92.5 million in April 2010 and it was reported by the Mississippi Department of Revenue. The 19 casinos along the Mississippi River won $101.9 million from players, while the casinos along the Gulf Coast took in $87.4 million in April.
Indian reservation casinos are not included in the Mississippi figures. These casinos are not required to report their winnings to the public. During the potholed economic recovery, the casino business has had its ups and downs with money for discretionary spending and travel were being tight for individuals and businesses watching dollars spent on conventions.
On a fiscal year, that begins July 1 and end June 30, Mississippi collects the gaming tax. Gaming taxes have brought in $234.2 million for the first 10 months of the fiscal year, including $77.8 million that is transferred to local governments.
Analysts have said that in addition to the plunge in the revenue, high gasoline processes have also weighed in.
Posted by admin in Casino
Playtech in a quest to become the exclusive platform provider for the Malta-based company’s Grand Duke Casino, has signed a contract with Integra Gaming. In both download and flash formats, the deal will see the online casino to have room for more than 150 games from Playtech’s stable.
The Grand Duke Club is an ideal example of its over-the-top treatment approach and Grand Duke Casino is planning to take care of its players. In an aptly named “Royal Package,” there are special game limits and a record-breaking €7000 bonus, which are only some of the unbelievable perks the casino will shower on its most valuable players.
From The Lotteries and Gaming Authority (LGA) in Malta, Grand Duke Casino has already obtained permission and players will finally be capable to place their bets this coming April.
Integra Partners, Integra Gaming’s very own affiliate program are the supporters of the Grand Duke Casino brand. Integra Partners is in the business of forming real partnerships and assisting affiliates in taking full advantage of revenues from their player base, backed by solid financial support, and an experienced team of dedicated affiliate managers. Every need and requirement will be met by a personalized & customized solution and every client is assured to be given immaculate service.
A GrandDuke.com statement read that they want players to take it to a whole new level, even though most casinos put their players first. At GrandDuke.com, players will see implausible promotions, uncompromising service and see bigger bonuses. Integra Gaming is determined to take the online casino industry by storm, with a fresh approach that shows both affiliates and players that veracity comes first.
Posted by admin in Casinos
Ameristar Casinos, regional gaming operator will get hold of the bulk of the common stock of more than 26.1 million share of the company’s common stock, owned by the Craig H. Neilsen Foundation for $457.6 million ($17.50 per share). The common stock at present is possessed by the estate of the company’s founder, who expired in 2006.
The transaction will result in the foundation’s controlling stake in Ameristar to 17 percent, down from 55 percent. The public shareholders, who manage eight casinos in seven markets, will be superior in command of the casino company.
Ameristar Chairman Ray Neilsen, who is Craig Neilsen’s son, said that based on the distinctive financial requirements of the estate and its beneficiaries, the verdict to sell the shares back to the company was made. The beneficiaries include The Craig H. Neilsen Foundation. It was established by his father, which was to support spinal cord injury research and treatment.
Ameristar said that in new debt financing, it also plans to acquire about $2.1 billion and to withdraw approximately $1.5 billion of its existing debt, it will use the proceeds to fund the buyback and for general working capital purposes.
Ameristar Casinos, in its 3-month average volume has already traded 1.714 times and has calculated resistance and support at $17.31 and $16.16 respectively. For price action moves through predefined trading ranges, traders like to use volume as their lie detector.
Ameristar Casinos stock is surpassing the overall market, as on the whole, market index S&P 500 is trading higher by 0.54% from its prior trading close.
Macau’s casino revenue surged 66 percent in December as an increasing number of Chinese gamblers visited the city. It surged to 18.9 billion patacas ($2.36 billion). According to data from Macau’s Gaming Inspection and Coordination Bureau, last year, sales for casinos in Macau surged 58 percent to 188.3 billion patacas. According to the median forecast of 18 economists surveyed by Bloomberg, in 2010, China, which contributes more than half the number of tourists to Macau, may grow 10 percent.
The city’s tourism agency said that in the first eleven months, Macau’s visitor arrivals rose 15 percent to 22.7 million, with more than 80 percent coming from mainland China and Hong Kong. According to the agency’s data, in the first 11 months, tourists from mainland China increased 20.5 percent.
On Monday, after news that China’s Macau region posted a 66% gain in casino revenue for the month of December, casino stocks surged. Macau attributed to the large shift in revenue, as it is the only Chinese region where gambling is legal.
Las Vegas Sands’s huge casino expansion project in the Cotai area has been stalled after the local government’s tight restrictions on foreign labor. The government rejected applications from both Las Vegas Sands and SJM Holdings Ltd. In December, on efforts to build on that site, Las Vegas Sands had spent more than $100 million. Analysts now expect a mid-2012 launch at best, although the company had aimed for the expansion to be operational in the third quarter.
After the government reiterated that, it would not approve new casino projects submitted after 2008, came the unprecedented move. In 2008, the government started revising the law as the new land law, which is not likely to take effect until 2012. It also said that once a new land law goes into effect, it would no longer grant land for casino projects without a public tender. Analysts believe that the law will not affect land grants for new casino projects in Cotai.
Clearing a major government hurdle for a 134,150-square-foot casino near La Center, the Department of the Interior announced that it would approve the Cowlitz Tribe’s application to take 152 acres in Clark County into trust.
Of the several groups eyeing the region for a large-scale casino, its approval puts the Cowlitz Tribe ahead of all of them. For just west of Interstate 5 about 15 miles north of the Columbia River, the complex is planned. For Portland area, it would be the closest casino.
The Cowlitz project threatens Oregon’s Spirit Mountain, the Grand Ronde tribes’ casino in terms of competition for gambling money. The Grand Ronde tribes’ casino is situated about 60 miles southwest of Portland and to the Oregon’s biggest population center, it is the tribal casino.
Grand Ronde spokesman, Justin Martin said that Cowlitz project would have a significant economic impact on them and for Oregon.
In 2000, the 3,700-member Cowlitz Tribe gained federal recognition and the lack of a reservation had been the largest roadblock to the casino.
Developer David Barnett, a tribal member and partner in the project owns the 152 acres, which are in question. With Connecticut-based Mohegan Tribe, which already has invested nearly $30 million in the project, the tribe will officially take the land into trust and will develop the property in partnership, said Bill Iyall, chairman of the Longview-based Cowlitz tribe.
Iyall said that the casino would be developed in phases as per the tribe’s plans, starting with the casino itself. Within a span of five years, the tribe hopes to build out the entire project. He added that it is a huge project, a complex one and a great Christmas present, although there is a lot of work invested in it. He added that this project could create 3000 jobs.
Posted by admin in Casino
Monday night Columbus City Council and Franklin County Commissioners could be putting a barrier in the middle of the west side casino project.There’s an argument over the casino annexing into Columbus. The west side site is currently in Franklin Township. If the location is annexed into the city, then the city provides the services and also gets more tax revenue.
This new agreement, passed by council Monday, clarifies that in order for Penn National to receive city services then it has to be annexed into the city limits. But the casino group has asked the Ohio EPA for permission to drill wells to service the casino, thus avoiding the annexation issue, unless city hall compensates the casino developers for the move from downtown to the west side.
The former Delphi plant off of West Broad Street was removed from a 2003 agreement between the city and county that would provide sewer services. City officials plan to write new legislation that would require any commercial developer who annexes into Columbus to use its sewer and water services.
That, more or less, was Mayor Michael B. Coleman’s message as he made a rare appearance before the Columbus City Council last night and asked members to remove the casino site from a 2003 city sewer contract with Franklin County.
“This new agreement clarifies that, in order for Penn National to receive city services, they need to annex to the city of Columbus,” Coleman told council members. The council approved the contract 6-0, with Councilman Andrew J. Ginther abstaining. County commissioners are to take the matter up at their meeting this morning.
For the county, the new contract would allow extending city water lines to 27 county housing subdivisions that have water problems. Two – the Money back subdivision in Franklin Township and the Leonard Park subdivision in Mifflin Township – would be approved immediately. The county would pay for the lines.
Peggy Rustige is pleased with the welcoming news about the awarding of a casino license for Cape Giradeau by the Missouri Gaming Commission.
The president of the Riverview Drive Improvement Association said that, for those looking to protect the pristine land at the Chain of Rocks Bridge, the commission’s decision to award the license to Isle of Capri Corp. of Creve Coeur is great news.
Rustige said, “Yeah. This area is one of the only open areas as you come into the city. It would have absolutely destroyed the area if the casino had gone there.”
To consider proposals from developers in St. Louis, Kansas City and Cape Girardeau, the commission met in Jefferson City. When the President Casino in St. Louis closed earlier this year, the last casino license of 13 allowed by state law became available.
For Cape Girardeau, Isle of Capri prevailed with a $125 million casino proposal. Near the Chain of Rocks bridge, the Koman family had sought a license to build a $132 million casino. From several groups like Rustige’s, Koman’s proposal met resistance.
At the confluence of the Mississippi and Missouri rivers, she described the Riverview Drive Improvement Association as homeowners interested in protecting the riverfront area.
Kathleen Logan Smith said, “Our first reaction was ‘Woo-hoo! We’re very happy.”
As the Save the Confluence Coalition to oppose floodplain casinos, Logan Smith said her group, as well as numerous other religious, environmental and hunting associations have banded together. Save the Confluence members need to remain on guard, as there is the possibility of another casino license going up for grabs in the future.
She said, “We can’t rest assured the land near the confluence will be protected unless it is designated by the government as protected or as a limited use area”.
Rustige wants to enjoy the moment after working so hard to lobby against the Chain of Rocks casino proposal and she said she feels the same way.
She said, “For now, we’re real happy and real tired”.
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Posted by admin in Casino
On Tuesday, a controversial statewide measure to allow Oregon’s first nontribal casino to be established in Wood Village was soundly defeated by Oregon.
The Secretary of State’s office reported 584,542, or 68 percent, based on early returns with 100 percent of precincts reporting, of Oregon voters decided against changing state law, while 274,563, or 32 percent, voted to accommodate a casino at the former Multnomah Kennel Club dog track at 223rd Avenue and Halsey Street.
Matt Rossman said he and Studer have learned a lot in their latest attempt for an East County casino. He collaborated with fellow Lake Oswego developer Bruce Studer to back the casino project.
He said, “We’re disappointed, but you have to remember, from a historical perspective, of the 21 other states that have commercial casinos, most did not fare well the first time around. We’re looking at the situation, and we may come back in 2012, referring to the next election cycle the measure could be reintroduced. We know we have to improve the ballot measure, so we can avoid some of the obstacles we dealt with.”
A vocal proponent of the project, Wood Village Mayor Dave Fuller said he remains convinced that a casino and entertainment complex would provide a positive economic dynamo for East County.
He said, “I have not changed my mind that that’s probably the best opportunity for economic development that could come into the east metro area. It’s unfortunate there were so many roadblocks put up by the secretary of state and other people in giving it a fair and even chance. But it is what it is.”
A Wood Village resident who helped form a group to oppose the casino, Tim Hesson said he’s pleased with the message Oregon voters sent.
He said, “I think it’s a good thing. The people of Oregon have spoken. This is something they don’t want. I hope the mayor of Wood Village will see that and move on. It’s a good thing for the livability of Wood Village”.
Based on a legal opinion, Rossman and Studer decided not to appeal the decision and pressed on, from a Portland law firm they hired that the constitutional change wasn’t necessary to establish the complex. The proposed “Wood Village Park” casino would have included a water slide, concert hall, cinemas, restaurants and bowling alley, among other amenities, with financial backing from Toronto, Canada-based Clairvest.