World Casino News
Konami Gaming announces two senior level appointments
Saturday, March 31, 2018
Konami Gaming announces two senior level appointments
New game from iSoftBet: Stacks O’ Gold slot
Casino News Today
New game from iSoftBet: Stacks O’ Gold slot
iSoftBet, casino content provider is pleased to announce the availability of its new game: Stacks O’ Gold slot. The latest entry in a portfolio of popular video slots, Stacks O’ Gold was released to coincide with St. Patrick’s Day celebrations around the world. Stacks O’ Gold slot will stand out among other seasonal slots with its dynamic gameplay mechanics and ...
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Friday, March 30, 2018
DraftKings seeking casino partners for sports betting
Las Vegas Sun Stories: Gaming
DraftKings seeking casino partners for sports betting
DraftKings says it has contacted potential casino partners in New Jersey with an eye to offering sports betting if the U.S. Supreme Court legalizes it. The Supreme Court is considering the state's challenge to a law limiting sports betting to just four states. A ruling could come as ...
UKGC settles with Skybet over self-exclusion weaknesses
World Casino News
UKGC settles with Skybet over self-exclusion weaknesses
The Star Entertainment inks ‘expanded strategic partnership’ with Asian firms
Casino – CalvinAyre.com
The Star Entertainment inks ‘expanded strategic partnership’ with Asian firms
Australian casino operator The Star Entertainment Group has sold a 10% stake of itself to two Asian firms with which it’s partnered on a Queensland integrated resort project.
On Thursday, The Star informed investors that it had entered into an “expanded strategic partnership” with Hong Kong conglomerate Chow Tai Fook Enterprises (CTFE) and property developer Far East Consortium International Ltd (FEC). The trio are already joint venture partners on the A$3b Queen’s Wharf casino project in Brisbane, which is expected to open to the public sometime in 2022.
The trio have inked a Strategic Alliance Agreement that will see them pursue several development projects, including up to five joint venture towers on Australia’s Gold Coast for hotel, residential, entertainment, tourism and retail use.
The trio will also collaborate on further expansion of The Star’s flagship Sydney property, as well as form a marketing alliance to leverage CTFE and FEC’s customer bases and loyalty programs to drum up new VIP and premium mass gambling business for The Star’s casino properties.
The Star also announced that the Hong Kong firms would each be taking a 4.99% stake in the company at a cost of A$245m apiece. While the HK firms are, in aggregate, currently prohibited from boosting their stakes above 19.9%, the companies have indicated they will apply to Aussie regulators to boost their aggregate shareholding to “over 10%.”
This isn’t the first time The Star has sold a piece of itself to Asian firms. Back when the company was still known as Echo Entertainment, Malaysian gaming giant Genting took a 9.7% stake in the firm. Genting expressed a desire to boost that stake up to 25% but kept hitting regulatory roadblocks and ultimately sold off its remaining 5.62% stake in The Star last summer.
Both of The Star’s new/old partners have been making moves to expand their gaming industry presence. CTFE already controls the $4.2b Baha Mar integrated resort in the Bahamas and is collaborating on a Vietnam casino joint venture with leading casino junket operator Suncity Group. FEC recently announced a tie-up with Trans World Corp, which operates casinos in the Czech Republic.
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In The Race To Succeed, Will It Be Hard Rock Atlantic City Or Ocean Resort Casino?
In The Race To Succeed, Will It Be Hard Rock Atlantic City Or Ocean Resort Casino?
The summer openings of Hard Rock Atlantic City and Ocean Resort Casino have brought a level of excitement back to the city, so which NJ casino will succeed may, in fact, be a trick question.
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Thursday, March 29, 2018
SBTech announced the launch of Youbet Denmark
Casino News Today
SBTech announced the launch of Youbet Denmark
The leading sports betting and casino solutions provider to the regulated iGaming sector worldwide, SBTech, is proud to announce the launch of Danish state lottery Danske Spil’s latest gaming and betting brand, Youbet Denmark. The new Youbet Denmark site will target fresh sports betting demographics with dynamic, cutting-edge features and competitive pricing, and will also include a best-of-breed casino hub with more ...
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Wynn Boston Harbor rebrand likely after Steve Wynn scandal
Casino – CalvinAyre.com
Wynn Boston Harbor rebrand likely after Steve Wynn scandal
Casino operator Wynn Resorts is considering purging the Wynn brand from its in-development Boston-area casino following the sexual assault allegations against founder Steve Wynn.
On Thursday, Wynn Resorts execs met with members of the Massachusetts Gaming Commission (MGC) to update them on the progress of the $2.4b Wynn Boston Harbor resort currently under construction in Everett, just outside Boston. The execs confirmed that the project is on track to open in June 2019.
Speaking to reporters following the hearing, Wynn Boston Harbor president Robert DeSalvio said the company was “absolutely considering a rebranding of the project” due to the ongoing controversy surrounding Steve Wynn’s alleged sexual impropriety with Wynn Resorts’ female staff going back decades.
Earlier this month, the embattled Steve Wynn sold off his 11.8% stake in the company he founded after it became clear that holding on to his stake would only prolong the company’s negative association with his alleged behavior.
Steve resigned as Wynn Resorts’ CEO/chairman in February, at which point the company announced that it had reached an understanding with Steve to provide him with written notice “in the event that the Company ceases to use the WYNN name and trademark.” Speaking Thursday, DeSalvio said the rebranding of the unfinished Boston project was “under active consideration right now.”
The company has to date resisted calls for rebranding, in part due to the brand’s high visibility in the high-end casino world. The brand has an inextricable connection to its founder, including its current logo, which is Steve’s actual signature.
Steve’s exit from the company hasn’t spared it from further bad press. This week, the Wall Street Journal quoted a former Wynn staffer saying her efforts to report Steve’s sexual assaults to the casino’s head of human resources were met with instructions to “keep your mouth shut” and not to “try to make this into anything.” Other Wynn staff have reported that their efforts to report similar allegations prompted senior Wynn execs to take steps to fire those claiming harassment.
The MGC is currently conducting an investigation into how much Wynn Resorts knew of Steve’s efforts to buy his accusers’ silence, and why these efforts weren’t disclosed to Massachusetts officials when they were considering the company’s suitability to operate in the state. The MGC stated that Steve’s resignation wouldn’t halt their investigation, which they say will conclude no later than this summer.
During two days of hearings in Las Vegas this week, Steve’s ex-wife Elaine Wynn said she informed Wynn’s general counsel Kim Sinatra in 2009 that she’d “received information alleging that Mr. Wynn had raped an employee at the hotel in 2005.” Sinatra later denied receiving such information, and Elaine acknowledged that she didn’t repeat the allegations to members of Wynn’s board of directors.
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Nevada casinos continue winning streak in February
Casino – CalvinAyre.com
Nevada casinos continue winning streak in February
Gaming wins continue for Nevada casinos in February, with revenues reaching past the $1 billion mark for the second month in a row—thanks to revellers visiting America’s playground to celebrate the Chinese New Year.
Figures released Wednesday by the Nevada Gaming Control Board (NGCB) showed that state-wide gaming revenue hit $1.02 billion in February, a 7.7% increase from the same period in 2017. This is the first time that Nevada achieved a back-to-back billion-dollar performance since March and April 2008.
For the fiscal year beginning July 2017 until February 2018, Nevada’s “gaming win” has risen to $7.9 billion, a 2.3% increase from the close to $7.7 billion reported in the 2016-2017 period.
The Las Vegas Strip posted its first monthly gain since the October shooting, logging winnings of over $603 million for February—an 11.37% jump from the same period last year.
Michael Lawton, senior research analyst for the Tax and License Division of NGCB, attributed February’s gaming wins to the “big baccarat win” on the Strip, which was up 82.5% to $79.7 million. In an interview with the Las Vegas Review-Journal, Lawton said “this February was much stronger than last February due to Chinese New Year falling in January” in 2017.
Nevada sportsbooks’ stellar performance came to halt in February, with overall revenue down 48% to $10.7 million compared to the $20.7 million posted in February 2017. This, however, still makes it the 55th consecutive winning month for the state’s sportsbooks, which experienced its last losing month in July 2013.
Football wagering dropped 136.35% year-on-year to less than $2.5 million, but basketball wagering revenue inched 0.68% to reach $11.6 million. Sports parlay cards was down 58% to $449,000, while sports pari-mutuel dropped 71% to $4,000. Nevada’s “other” betting category was also down 7.57% to $1.39 million.
Statewide slots revenue posted a modest 4.17% increase to reach $605.58 million in February, while total games and tables were up 13.27% to $412.33 million. Several major tables, however, reported declines, including blackjack ($88 million, -17.22%), craps ($31.2 million, -12.33%), and roulette ($36.4 million, -5.55%).
Overall, the gaming regulator said the state collected close to $44.2 million in percentage fees based on the taxable revenues generated in February. This was a 14.99% drop from the prior year’s March period, when Nevada fee collections reached close to $52 million.
The NGCB, however, noted that the amount did not reflect the $8.75 million in transferable tax credits used in March or the total amount of tax credits taken fiscal-year-to-date, which amounted to $65.8 million.
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Hard Rock AC Putting Final Pieces In Place After Nearly A Decade Of Planning
Hard Rock AC Putting Final Pieces In Place After Nearly A Decade Of Planning
Hard Rock Atlantic City has been close to a decade in the making, and as its summer 2018 opening nears, the Hard Rock AC has everyone talking about all of its plans. Here's what we know, from start to current status.
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Wednesday, March 28, 2018
The top 10 largest U.S. jackpots
Las Vegas Sun Stories: Gaming
The top 10 largest U.S. jackpots
Players will have a chance at a $502 million jackpot in Friday night's Mega Millions lottery drawing, making the prize the 10th largest prize in the nation. Here is a look at ...
Empire Resorts joins responsible gaming discussion
Casino News – Focus Gaming News
Empire Resorts joins responsible gaming discussion
The renowned casino Empire Resorts raises awareness of problem gambling.
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Japanese legislators agree on casino visit restrictions
World Casino News
Japanese legislators agree on casino visit restrictions
Yggdrasil inks content deal with Stanleybet
World Casino News
Yggdrasil inks content deal with Stanleybet
Tuesday, March 27, 2018
If NJ Sports Betting Is Legalized, Which Teams Should You Be Betting On?
If NJ Sports Betting Is Legalized, Which Teams Should You Be Betting On?
SCOTUS has yet to decide the fate of the NJ sports betting case, but while the Garden State (and its casinos) wait, here is a list of the top teams and sports worth betting on in New Jersey in the future.
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Tigre de Cristal plans second stage
Casino News – Focus Gaming News
Tigre de Cristal plans second stage
The second stage of the casino will expand the casino-resort, this time focusing on non-gaming facilities.
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Paradise Entertainment narrows 2017 losses to $30.7M
Casino – CalvinAyre.com
Paradise Entertainment narrows 2017 losses to $30.7M
Despite facing strong headwinds in 2017, Macau-based casino equipment maker Paradise Entertainment Ltd. has managed to slash its annual losses by as much as 92 percent.
In a disclosure to the Hong Kong Stock Exchange on Monday, Paradise announced that its losses drastically dropped to HKD30.7 million (US$3.8 million) last year, compared to nearly HKD380.4 million ($47.07 million) in 2016.
The 2016 losses of Paradise included the writing down of nearly HKD334.8-million ($41.43 million) as a result of the one-off non-cash loss arising from the assignment of intangible assets concerning patents and associated technology to International Game Technology Plc (IGT).
Paradise said that it started to recognize the royalty income from the IGT deal last year, contributing some HKD2.9 million revenue to its coffers.
However, Paradise’s 2017 group revenue slid 13 percent to HKD1.01 billion ($124.98 million), from HKD1.16 billion ($143.53 million) in 2016. Chairman Jay Chun attributed the dismal financial results to the sluggish recovery of satellite casinos in Macau.
“Nevertheless, our management team has successfully executed the business strategies and the group has achieved solid results on the back of such a challenging and competitive operating environment in Macau,” Chun said in a statement.
Paradise’s electronic gaming equipment and systems segment remains a drag, with revenue plunging 87.7 percent to HKD22.8 million ($2.9 million), compared to HKD185.7 million ($22.98 million) in 2016.
Compared to the 893 terminals sold in 2016, the company only managed to move 78 of its Live Multi Game casino game terminals last year.
Revenues from its casino management division remained flat, recording a 0.6 percent gain to HKD973.9 million ($120.51 million).
The Hong Kong-listed firm currently operates casinos at Casino Kam Pek Paradise on Macau peninsula under SJM Holdings Ltd’s gaming license. It also manages casino operations at Casino Waldo in downtown Macau, under a Galaxy Entertainment Group Ltd license.
Casino Kam Pek Paradise’s annual revenue was HKD681.8 million ($84.36 million) last year, up 1.3 percent from HKD672.9 million ($83.26 million) in 2016. Meanwhile, Casino Waldo grew 6.2 percent to HKD292.1 million (US$36.14 million).
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Digitain deals with YourBet
Casino News Today
Digitain deals with YourBet
Multi-channel sports betting Digitain deals with YourBet, leading CIS, a part of the powerful eGamings family which specializes in iGaming solutions, ahead of this summer’s World Cup in Russia. Since Digitain deals with YourBet, the prominent supplier has extended its influence across eastern Europe, Asia and Africa in recent months with its fully-managed sportsbook platform, which offers odds on 65 ...
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Monday, March 26, 2018
Tigre De Cristal’s Phase II plans to focus on non-gaming amenities
World Casino News
Tigre De Cristal’s Phase II plans to focus on non-gaming amenities
Electronic Table Games Take The Spotlight At Resorts Casino In Atlantic City
Electronic Table Games Take The Spotlight At Resorts Casino In Atlantic City
Resorts became the first casino in Atlantic City to debut electronic table games from IGT, giving players a chance to play roulette, baccarat, or blackjack all at once and Resorts to take more bets in an hour.
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Cherokee Nation breaks ground on new Tahlequah, OK casino
World Casino News
Cherokee Nation breaks ground on new Tahlequah, OK casino
Superbet Poland representatives, Zdenek Lang and Kamil Popiołek to join “Focus on Poland”
Casino News Today
Superbet Poland representatives, Zdenek Lang and Kamil Popiołek to join “Focus on Poland”
There are just a few days left until the second edition of Prague Gaming Summit opens its doors and grants access to +12 hours of learning and networking for the registered delegates. The latest announced experts are Zdenek Lang and Kamil Popiołek, the representatives of Superbet Poland and will join the “Focus on Poland” panel. The “Focus on Poland (panel ...
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Sunday, March 25, 2018
NetEnt AB goes back in time with new Hotline video slot
World Casino News
NetEnt AB goes back in time with new Hotline video slot
Saturday, March 24, 2018
Golden Entertainment Incorporated inks estate-wide Synkros deal
World Casino News
Golden Entertainment Incorporated inks estate-wide Synkros deal
Magnet Gaming deals with Nektan to go live in Gibraltar
Casino News Today
Magnet Gaming deals with Nektan to go live in Gibraltar
A popular slots provider, Magnet Gaming deals with Nektan, an international B2B and white label gaming software and services provider to go live in Gibraltar. Due to the fact that Magnet Gaming deals with Nektan, Magnet Gaming gets access to all available online casinos operating under a Gibraltar license. The deal corresponds with the company’s expansion plans. Magnet Gaming’s full ...
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To enliven casino floor, Orleans puts virtual reality games to the test
Las Vegas Sun Stories: Gaming
To enliven casino floor, Orleans puts virtual reality games to the test
Not only is the Virtual Zone Boyd Gaming's first foray into the virtual world, it also marks the first VR installation on a casino floor for IGT. The addition is aimed at drawing those who otherwise wouldn’t step foot in ...
Leagues, casinos lobby states for cut of legal sports bets
Las Vegas Sun Stories: Gaming
Leagues, casinos lobby states for cut of legal sports bets
With the Supreme Court poised to rule on a case that could end the federal ban on sports gambling, more than a third of U.S. states are considering legislation to get in on the action, and professional leagues and casino interests are lobbying against ...
Friday, March 23, 2018
IGT, Boyd launch VR archery tournaments at Vegas casino
Casino – CalvinAyre.com
IGT, Boyd launch VR archery tournaments at Vegas casino
Casino operator Boyd Gaming and gaming supplier International Game Technology (IGT) aren’t giving up on bringing virtual reality (VR) technology to America’s casino gaming floors.
Boyd’s Orleans Hotel and Casino in Las Vegas recently announced the launch of new daily VR archery tournaments at the property’s Virtual Zone, which incorporates IGT’s VR platform and HTC Vive headset technology.
The Virtual Zone tournaments at the Orleans involve two archery games, SiegeVR and ArcheryVR, both of which involve players defending a castle by shooting virtual arrows at the hordes of aggressors attempting to storm the gates for the sake of (presumably) looting, pillaging and other socially frowned-upon activities.
The SiegeVR tournaments involve two-person teams competing against each other, with entry fees of $30 per team. Scoring is calculated by how many baddies your team knocks off with its arrows, and the top daily score wins $300 in ‘Slot Dollars’, which are only valid for 48 hours after they’ve been awarded.
For friendless archers, the single-player ArcheryVR tournaments cost $10 per person, with daily top scorer winning $125 in Slot Dollars. Regardless of which tournament style you fancy, your entry fee has to be in cash, and you also have to belong to Boyd’s B Connected rewards program.
Notably, the fine print indicates that Boyd has the right to turf so-called ‘advantage players,’ so if you have any Olympic gold medals for archery hanging in your closet at home, you’d be well advised to keep that info to yourself (and pretend to miss now and then).
The launch marks not only Boyd’s first VR entertainment offering but also the first time IGT’s VR platform has appeared on a casino gaming floor. IGT chief commercial officer Nick Khin said the VR platform delivers “an entertainment experience unlike anything previously offered on casino floors.”
Perhaps, but the millennials that habituate Vegas nightspots have so far proven relatively disinterested in some of the more innovative offerings that were specifically designed to entice them onto the casino gaming floor. The much-ballyhooed launch of so-called skill-based games have so far generated more headlines than revenue.
IGT announced its partnership with HTC Vive earlier this week, and HTC Vive’s VP of global content Joel Breton claimed VR tech “has proven to be a consistent traffic generator in entertainment venues.” VIVE Studios has already utilized IGT’s software development kit to develop a tournament-ready casino version of its Arcade Saga game. All that’s left now is the Field of Dreams question: we’ve built it, now will they come?
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Mini-casino licence auction postponed in PA
Casino News – Focus Gaming News
Mini-casino licence auction postponed in PA
The PGCB postponed the auction of a fifth mini-casino licence due to bad weather conditions.
The post Mini-casino licence auction postponed in PA appeared first on Focus Gaming News.
Nektan sheltering deal sees Magnet Gaming live in Gibraltar
World Casino News
Nektan sheltering deal sees Magnet Gaming live in Gibraltar
Can New Jersey Online Casinos Catch Up To Golden Nugget? Maybe, Maybe Not
Can New Jersey Online Casinos Catch Up To Golden Nugget? Maybe, Maybe Not
After posting another banner month in revenue for February 2018, Golden Nugget NJ seems poised to keep its position at the top for good. Whether other NJ online casinos can close the gap is up for debate.
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Thursday, March 22, 2018
Riverboat casino may be on the cards for Monroe
World Casino News
Riverboat casino may be on the cards for Monroe
Prague Gaming Summit 2018 announces PLANZER LAW and BtoBet as sponsors
Casino News Today
Prague Gaming Summit 2018 announces PLANZER LAW and BtoBet as sponsors
The team at European Gaming are honored to announce the support of PLANZER LAW as Networking Break & Lunch Sponsor and the support of BtoBet as Digital Sponsor for the second edition of Prague Gaming Summit which will be held at Andel’s by Vienna House Prague on the 29th of March. 30 experts speakers will be sharing information about legal ...
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Philippine justice department issues lookout order vs. Kazuo Okada
Casino – CalvinAyre.com
Philippine justice department issues lookout order vs. Kazuo Okada
The Philippines’ Department of Justice (DOJ) has alerted law enforcement agencies to be on the lookout for the possible arrival or departure of Japanese gambling mogul Kazuo Okada, who now faces a $10 million fraud and perjury cases in the country.
Justice Secretary Vitaliano Aguirre issued a two-page, Immigration Lookout Bulletin Order (ILBO) against Okada at the request of Tiger Resort Leisure and Entertainment Inc. (TRLEI), the company managing Okada Manila.
In issuing the ILBO, Aguirre pointed out that “there is a strong possibility that he [Okada] may attempt to place himself beyond the reach of the legal processes of the government by leaving the country.”
“We thus deem the issuance of an ILBO against the subject person [Okada] in order to at least monitor the itineraries of his flight, travel, and/or whereabouts,” the ILBO stated, a copy of which was obtained by CalvinAyre.com.
Unlike the hold departure order that the Philippine courts usually issue, the ILBO is used for monitoring purposes and will not direct immigration officers at airports and seaports from preventing accused individuals from leaving the country. People subject to the ILBO will need to secure an Allow Departure Order (ADO) from the DOJ chief—in this case, Aguirre—before they can leave the country.
Aguirre ordered Philippine authorities to take all appropriate actions “including, but not limited to coordinating with concerned offices and agencies, and even airlines, especially since international passengers are customarily required to check-in within a specified number of hours before the flight.”
Okada, who previously served as chief executive officer of TRLEI, is currently facing fraud and perjury cases in connection with the alleged unlawful use of corporate funds worth $10 million.
In the first complaint, TRLEI accused Okada of pocketing $3.16 million in salaries and consultancy fees despite serving as the company’s chief executive officer for only a month.
The second criminal case against Okada stemmed from his decision to award a $7-million supply contract for the installation of LED fixtures in Okada Manila to his own company, Aruze Philippines Manufacturing Inc.
Aside from the Philippines, Okada is also facing a $17.4 million suit before the High Court of the Hong Kong Special Administrative Region in connection with the anomalous loans made to Goldluck Tech Limited and the unauthorized issuance of check from United Entertainment Corp.’s Hong Kong subsidiary, Tiger Resorts Limited (TRA).
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Okada Manila ready to increase number of visitors
Casino News – Focus Gaming News
Okada Manila ready to increase number of visitors
The Philippines casino will open permanent retail stores that will bring its targeted number of customers per day.
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Wednesday, March 21, 2018
Scientific Games wins a five-year lottery contract from Lotto Rheinland-Pfalz GmbH
Casino News Today
Scientific Games wins a five-year lottery contract from Lotto Rheinland-Pfalz GmbH
Scientific Games Corporation announced that they have won a new, five-year contract from Lotto Rheinland-Pfalz GmbH to supply lottery instant games and its Cooperative Services Program (CSP) for instant game management in the southwest German state of four million residents. Lotto Rheinland-Pfalz and Scientific Games have increased the Lottery’s instant product sales almost 382% since the Cooperative Services Program was ...
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Vietnam casino market remains underpenetrated, says Imperial Pacific exec
Casino – CalvinAyre.com
Vietnam casino market remains underpenetrated, says Imperial Pacific exec
Vietnam has all the ingredients to have a successful casino industry but somehow, the Asian country remains underpenetrated.
Imperial Pacific Senior Vice President Lu Tsai pointed out that many operators have overlooked Vietnam’s potential in favor of more popular Southeast Asian jurisdictions such as the Philippines and Cambodia. But Tsai believes the Vietnam market still has lots of opportunities to offer.
“I think there’s still room for penetration. Just what we’ve talked about earlier, with the Vietnam market, is not penetrated very well,” Tsai told CalvinAyre.com.
Among the main draws of the Vietnam market are its young population, its propensity for games, and the Vietnamese love of travel. Tsai noted that Vietnam has international airports with many direct flights to a lot of regional places.
Natural resources and tourist spots in Vietnam are also good selling points for the premium mass sector from mainland China, according to Tsai.
Unfortunately, the Imperial Pacific executive said that there’s a little push from the stakeholders and government to really develop the Vietnamese base.
“It’s something that I rack my brain, I wonder why,” Tsai said. “If these operators truly understand the Vietnamese markets, especially out of Ho Chi Minh City, they are going to put some effort to build that market.”
He also believes that Vietnam, just like Thailand, is proof that the Southeast Asian region’s casino industry has not reached overcapacity.
“I think the markets are not saturated at all at this point. Even the Thai market is not penetrated. The Thai inbound is huge, $24 to $28 million a year. The Thai outbound is also very big,” Tsaid pointed out. “On the Thai outbound side, how are they being targeted? That is something is need to get a good look and understand where they want to develop new market.”
If there’s one piece of advice that he could give operators wanting to invest in Southeast Asia, Tsai said that they should first take a look at the airport and sites to see where the most flights are being taken. He noted that big airport traffic establishes that the market has a good infrastructure from a travel perspective.
“You need to make a more holistic approach from a marketing strategy perspective to say these are the markets we want to go after. Here’s why and here’s how,” Tsai said.
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Harrah’s Atlantic City WSOP Circuit Main Event win goes to Soheb Porbandarwala
World Casino News
Harrah’s Atlantic City WSOP Circuit Main Event win goes to Soheb Porbandarwala
Sun International shuts down money-losing operations
Casino – CalvinAyre.com
Sun International shuts down money-losing operations
In business, it’s important to know when to say enough is enough and cut losses. South African hotel and casino operator Sun International knows this all too well and has currently begun wielding the knife. It’s in the process of eliminating several of its properties, all of which have not been producing income for the billion-dollar organization.
Sun International holds 42.5% of the South African casino market. It pushed itself out into the world, launching casinos in Latin America to take its holdings up to 27 properties. However, following the announcement that full-year earnings had dropped, it made the call to offload a large part of its casinos, which should bring in around $124 million in capital.
In Colombia, Sun plans on closing Fish River Sun and Sun Nao Casino. It will also dump the International VIP Businesses that it has in Panama and South Africa. Its Ocean Sun Casino, which is in the formerly titled Trump Ocean Club in Panama, has also been closed. There’s no indication that the lack in business of the casino stemmed from the location carrying the Trump name.
Sun will reorganize its Boardwalk casino and hotel in South Africa, as well as look at ways to shore up business at its Carousel casino in the North West province. In announcing the shakeup, Sun CEO Anthony Leeming said, “Closing loss making entities will have a positive impact, as will the interventions we’ve put in place at the Ocean Sun Casino, the Boardwalk and the Carousel. We are anticipating much improved performances from these operations.”
Following the election of Cyril Ramaphosa as president of South Africa, the gaming atmosphere has seen a lift; however, it will take some time for the gambling operators to begin to realize strong profits. Sun’s revenue has fallen by 1% for its core casino operations in the country while the hotel operations have gained 6%. Shares in the company have seen an almost steady decline since March 8, losing about 20% of their value.
Sun also has casinos in Botswana, Lesotho, Namibia, Zambia, Nigeria and Swaziland on the African Continent. In Latin America, apart from the operations in Panama and Colombia, it owns the Sun Monticello in Chile.
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Tuesday, March 20, 2018
Compromise proposed in long-running Connecticut casino battle
World Casino News
Compromise proposed in long-running Connecticut casino battle
NJ Online Gambling Market Grows By One With PartyCasino NJ Launch
NJ Online Gambling Market Grows By One With PartyCasino NJ Launch
PartyPoker NJ parent company GVC Holdings has launched the new look of its historic PartyCasino site in the New Jersey online casino market.
The post NJ Online Gambling Market Grows By One With PartyCasino NJ Launch appeared first on .
iSoftBet deals with 1X2gaming to add additional firepower to GAP
Casino News Today
iSoftBet deals with 1X2gaming to add additional firepower to GAP
Games from Iron Dog Studio, 1X2gaming and Leap Gaming will be available through iSoftBet’s Game Aggregation Platform as iSoftBet deals with 1X2gaming. Leading online and mobile casino content provider, iSoftBet deals with 1X2gaming and has added additional firepower to its impressive Game Aggregation Platform (GAP) by integrating games for 1X2 Network’s flagship development studios. As iSoftBet deals with 1X2gaming, the ...
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First of two planned Grand Openings for Tiger Palace Resort draws record crowd
World Casino News
First of two planned Grand Openings for Tiger Palace Resort draws record crowd
Monday, March 19, 2018
Betsoft Gaming deals with PlayFortuna – European Content Partnership
Casino News Today
Betsoft Gaming deals with PlayFortuna – European Content Partnership
Betsoft Gaming deals with PlayFortuna, a multinational operator, to strengthen its position in Europe, providing a suite of fully-licensed slot games to PlayFortuna. As Betsoft Gaming deals with PlayFortuna and under the terms of the agreement, PlayFortuna will integrate a wide range of Betsoft’s cross-platform content – all compliant with the relevant regulatory standards – that includes sought-after games from ...
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Japan’s Komeito eyes replicating Singapore’s casino fees
Casino – CalvinAyre.com
Japan’s Komeito eyes replicating Singapore’s casino fees
The coalition partner of Japan’s ruling political group Liberal Democratic Party (LDP) is pushing for a ¥8,000 ($76) admission fee for Japanese residents when the country opens its first casinos.
Jiji Press reported that Komeito has proposed a mandatory admission fee at par with Singapore’s casinos, which currently charge local residents an admission fee of SGD100 (US$76).
Komeito’s proposal was higher than the ¥2,000 ($18.84) admission fee that the government suggested in February.
Aside from the proposed admission fee, Komeito has also proposed limiting casino licenses to two or three locations. This suggestion was contrary to LDP’s proposal to allow six Japanese cities to host integrated resorts.
Komeito and LDP also differ when it comes to the issue of Japanese casino visitation. Unlike the LDP, the junior coalition partner wants to limit residents’ casino visits to no more than three times a week and 10 times per month.
“It’s extremely important to gain understanding from a wide range of Japanese people by introducing casino restrictions in the world’s best standards,” the Komeito draft said, according to the news outlet.
Both LDP and Komeito have been drafting their respective positions before they deliberate on new rules that will govern Japan’s first casinos.
Gambling analysts predict that the biggest deliberation between the two parties will be on the number of licenses.
Whatever the number of city hosts will be, industry executives are certain that casino operators are in for a win-win situation.
Meanwhile, the government hopes to approve the IR Implementation Bill before the current legislative session ends on June 20. The government is also working on separate legislation covering problem gambling mitigation, which many observers believe must be passed prior to the Implementation Bill.
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MGM approved for $60k in scholarships for casino dealer school in Springfield
World Casino News
MGM approved for $60k in scholarships for casino dealer school in Springfield
Sunday, March 18, 2018
Partypoker LIVE signs four-year deal with Casino Sochi and Resort
World Casino News
Partypoker LIVE signs four-year deal with Casino Sochi and Resort
Saturday, March 17, 2018
Scientific Games scores Kazakhstan lottery contract
World Casino News
Scientific Games scores Kazakhstan lottery contract
Troubled casino king Steve Wynn could sell stake in Wynn Resorts
Casino – CalvinAyre.com
Troubled casino king Steve Wynn could sell stake in Wynn Resorts
Now that Steve Wynn and his ex-wife Elaine Wynn have settled their fight over a stock fortune worth over $4 billion, the question is: will the one-time King of Las Vegas sell his stakes?
In a Thursday filing, Wynn Resorts reported that the District Court in Clark County, Nevada, ordered the termination of the shareholding agreement between Wynn and the former Mrs. Wynn following a joint submission from the lawyers of both parties.
Under the court order, the 2010 revised shareholders agreement between the pair “is now invalid and unenforceable as a matter of law and that neither party shall have any further rights or obligations thereunder.”
All’s well that ends well?
The court order frees the Wynns to sell their shares in Wynn Resorts. Steve Wynn owns nearly 12% of the casino company, followed by his ex-wife who holds 9.4% stake. However, an agreement with Wynn Resorts stipulated that the former Wynn CEO is barred from selling more than one-third of his company shares. Elaine, for her part, previously stated that she wishes to sell her shares.
The couple had been engaged in a long drawn, bitter legal fight since 2010. Elaine was ousted from Wynn’s board of directors in 2015 after Steve accused her of breaching their 2010 agreement by transferring $10 million of her Wynn shares to a charitable foundation under her control without first gaining ex-husband’s permission. Elaine, however, claimed her ouster breached that same 2010 agreement, making it null and void.
Steve Wynn ended the legal battle in early February, when he announced that he “no longer contests [his ex-wife Elaine] Wynn’s judicial admission that the 2010 Stockholders Agreement is invalid and unenforceable.”
Around the same time, the embattled casino titan also stepped down from the company he founded, following allegations of decades’ worth of sexual harassment by Steve against female members of Wynn Resorts’ staff.
Last week, another woman who claimed to be Wynn’s manicurist accused the beleaguered casino king of sexually harassing her. The manicurist joined the growing list of women, including two massage therapists employed at the Wynn Resorts, who have filed lawsuits against the casino mogul and the company.
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Former Carson City casino could become retail, housing space
Las Vegas Sun Stories: Gaming
Former Carson City casino could become retail, housing space
The owners of a former hotel and casino in downtown Carson City say potential buyers could convert the property into retail and housing space. The Nevada Appeal reports the owners of the Ormsby House on Thursday withdrew their ...
Playtech deals with Totalizator Sportowy to open online casino in Poland
Casino News Today
Playtech deals with Totalizator Sportowy to open online casino in Poland
The world’s leading Omni-channel gaming software, systems and services supplier, Playtech deals with Totalizator Sportowy, the Polish national lottery provider, to supply its industry-leading online casino platform, games portfolio and services. Playtech deals with Totalizator Sportowy following a successful public tender process. Under the newly signed agreement, Playtech was awarded the exclusive contract with the 60-year-old state owned operator. Totalizator ...
The post Playtech deals with Totalizator Sportowy to open online casino in Poland appeared first on Casino News Today.
Friday, March 16, 2018
PA table game revenue up 11.24 pct in February
Casino News – Focus Gaming News
PA table game revenue up 11.24 pct in February
Gross revenue from gambling at table games in Pennsylvania casinos was up 11.24 per cent in February to US$73.7 million.
The post PA table game revenue up 11.24 pct in February appeared first on Focus Gaming News.
SkyCity Entertainment Group loses wrongful dismissal case
World Casino News
SkyCity Entertainment Group loses wrongful dismissal case
