Middle income Tourism Expands as VIP Marketplace Slows in Macau

 Middle income Tourism Expands as VIP Marketplace Slows in Macau

Macau is pulling more of these types of Chinese tourists now, and less whales, as revenues continue to skyrocket (Image: CNN.com)

Macau now thought to be the #1 gambling revenue locale in the world has had another record year, with a $45 billion intake in 2013, lots that represents an 18.6 percent jump through the year prior. And despite the fact that Las Vegas’ improvements from the 12 months before were actually a bit more than this, percentage-wise, Macau continues to beat away the American gambling mecca by way of a seven-times-greater input annually.

Welcome, Comrades

But while previous years’ growth ended up being mostly attributed to the mega-wealthy Chinese whales who stumbled on the Chinese unique administrative district to play at opulent casinos like the Venetian Macao or Galaxy Macau, the most recent year’s upswing is more thanks to the normal man, i.e., China’s middle income and their new access to the neighboring gambling kingdom.

Most credit with this influx regarding the public goes to an ever-growing high-speed rail system, and a 38 billion yuan (US$6,216,291,171) connective connection that ties together Hong Kong, Macau and Zhuhai on China’s mainland, which has vastly paid down access time to Macau. That reality, in turn, is allowing for numerous more time and trip that is brief in the future and spend their money at Macau’s casinos; new attractions going up in nearby Hengqin Island ar […]

Genting Gambles in Florida with Uncertain Outcomes

Genting Gambles in Florida with Uncertain Outcomes

A rendering of one portion of the proposed Resorts World Miami Genting casino resort project; the $3 billion project still hasn’t received a high sign from Florida lawmakers.

They do say cash talks, but in Genting Resorts World’s case, it’s maybe not been speaking as loudly as the ongoing business might like.

The asian gambling conglomerate has largely met with nothing but resistance despite pouring $236 million into a 14-acre waterfront Miami spread back in 2011 and then sprinkling millions more into pressuring state politicians to ‘adapt’ a construction law to accommodate a new $3 billion resorts World Miami casino project. Therefore they’ve now decided on a new, less direction that is cumbersome the Sunshine State: a slots-only project that would pair them up with Gulfstream Park racetrack in Miami’s Key Biscayne area.

Antagonists Await

Of course, anytime a potential casino that is new shows up in a state, the very first thing that happens is some kind of anti-gaming coalition forms; and Florida has been no exception compared to that guideline. Anti-casino group NoCasino.org is even releasing a movie mid-January called Pushing Luck that claims to show a ‘sobering glimpse’ of ‘broken claims’ from casino operators.
According to Genting’s new partner Gulfstream, the racetrack holds an as-yet-unused gaming license that has the possibility of use in either Miami-Dade or Broward counties, as the track rests simply between the […]

New Jersey Online Gambling Pays Off Bigtime for Lobbyists and Attorneys

New Jersey Online Gambling Pays Off Bigtime for Lobbyists and Attorneys

It’s good to become a casino industry lobbyist or attorney representing New Jersey on line gaming, according to the latest reports (Image: thepublici.com)

Everybody knows that when it comes to gambling, the homely house always wins. In the case of online gambling in New Jersey, it seems that the lobbyists and attorneys do pretty well for themselves, too.

Help Services Make Bank

In accordance with disclosures posted by the New Jersey Division of Gaming Enforcement, the on line gambling industry has resulted in $50.3 million in payments to lawyers, lobbyists, and other professionals since mid-2009. The numbers came just days before the revenue that is first are scheduled to be released for New Jersey casino web sites, and are part of an unusual requirement in brand New Jersey that demands disclosures for several expert re payments.

‘Many states have statutes requiring public disclosure of revenues by lobbyists, including New Jersey, but here is the time that is first have ever heard of a gaming regulatory agency requiring disclosure of payments to lawyers,’ stated Nicholas Casiello Jr., a lawyer aided by the Fox Rothschild firm’s gaming group in Atlantic City.

This first report covered everything from July 2009 through December 2013, with future reports being made public for a basis that is quarterly.

The biggest ‘winner’ in terms of legal services was Brownstein Hyatt Farber Schreck, L.L.P., which ma […]

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