
Macau’s leader Fernando Chui had good news/bad news in his end-of-year address to the area (Image: MacauBusiness.com)
Want a Macau casino license? Too bad and go off your holiday wish list; the nation’s chief executive has made it specific that no new ones will be forthcoming anytime quickly.
Fernando Chui Macau’s leader told the 2014 Legislative Assembly in his annual presentation that nothing will be changing vis-a-vis the special administrative region’s licensing for video gaming establishments; the current setup of three concessions and three sub-concessions will continue as is, the in an identical way it has since the region first opened to international casino operators in 2003.
Read My Lips: No New Licenses
This despite the reality that not only is gaming doing booming business in the Asian enclave, infrastructure improvements and massive capitalization are allowing for millions more mainland Chinese tourists to come over and lose their money. Where visa restrictions once limited the quantity of times A chinese nationwide could come over, no restrictions on amounts of visits occur anymore; or at the very least, they’re not enforced.
Likewise, although only two casino that is american were likely to be allowed to build on Macau’s Cotai Strip two years ago, in reality, three are now in the works: Wynn Resorts, Las Vegas Sands and MGM Resorts all have luxury projects rising there, and each one is expected to open their doors about couple of years down the line, in 2016.
But while the Macau powers-that-be are loosening up in these areas, they don’t have any intention of issuing more licenses, period. Which can be why Caesars Entertainment fundamentally made the decision to not throw anymore good cash after bad, and put their $483 million course property up for sale, a property they purchased back in 2007, hoping, wishing and waiting.
Despite the area’s booming gaming economy, Macau happens to be eyeing the Las Vegas non-gaming model (Sin City now makes more revenue on non-gaming tourist attractions such as nightclubs, retail shops, restaurants and sporting and theatrical activity than it does strictly on video gaming) and authorities want gaming houses to incorporate more non-gaming attractions in their properties. And additionally they have not been shy about telling casino owners to complete so at their behest.
Amenities-R-Us
When Macau authorities talk, gaming moguls listen; MGM’s business partner Pansy Ho put up usually the One Central Mall close to the MGM Macau and the Las Vegas Sands made sure it had 10,000 yes, you read that right guest spaces to provide gamblers, spread among five properties they run: Venetian Macau, Four periods Macau, Conrad, Holiday Inn and Sheraton. All these available spaces are located within Sands’ Cotai Central complex, and complement the company’s 1 million square feet of retail and dining, in addition to yet another 1 million square foot of meeting room.
And whether they have built it so they came, or the other method around, Chinese middle-class tourists are flocking to Cotai now for overnight gambling junkets that include, it appears, plenty of shopping, dining and activity, so chalk a score up for the Las Vegas paradigm certainly.
‘They stay longer, come from farther away and require sleeping rooms,’ said Las Vegas Sands President of worldwide Operations Rob Goldstein. ‘So (the) rooms in Cotai turned out to be quite a good concept.’
Besides clarifying the no-new-licenses situation, Chui who grew up in a prominent macau household and attained a doctorate at Oklahoma State University before becoming a culture minister in their homeland had some popular concepts to dispose off to your masses. He said that the location’s 2012 record-breaking $38 billion intake from casino revenues followed by more record-breaking this year with $37.13 billion pulled in just through towards the end of October will mean a sort of holiday bonus of sorts for every and every one of Macau’s residents of $1,127; which will come from the $11.89 billion brought in via gaming taxes this year, with two months left to go yet.
Chui’s part as ‘chief executive’ in Macau is akin to being a governor in the U.S.; he mediates between Macau and Beijing. Which we are confident just isn’t very much like anywhere in Oklahoma.
Suffolk Downs Faces More Massachusetts Gaming Commission Hurdles
The Massachusetts Gaming Commissioners and do not they appear like a bunch that is fun-loving some tough decisions in front of them (Image: Josh Reynolds/AP)
Is it dead, or can it be alive? That’s the question everybody else in Massachusetts is asking about the Suffolk Downs casino plan, which happens to be in a state of limbo reminiscent of Schrödinger’s cat. And even though a meeting that is recent of Massachusetts Gaming Commission might have offered a couple of clues as to which method that board is leaning, it still provided no firm answers on whether or otherwise not the project is being considered as viable.
Whose Casino Is It, Anyhow?
That meeting, which happened earlier this week in a South Boston meeting center, was meant to see whether or not Suffolk Downs and partner that is new Sun could move ahead with an alternative plan to build a casino. The neighboring town of Revere also designated as a host for the project voted in favor, which has led the race track to attempt to modify the project and locate it entirely in Revere instead while the original plan to build in East Boston was shot down by that community.
That has left the state’s gaming payment with two concerns to answer. First, they have to determine whether it’s ok for Suffolk Downs to come up having an alternate plan after their very first plan had been defeated during the ballot box. According to reports, it showed up as although the majority associated with payment had been okay with that move; in the end, if one community approved the program, there was likely at least some interest.
But a second question is proving thornier. The commission should also see whether or otherwise not the Revere vote can be applied to a project that is new one who has a brand new partner in Mohegan Sun, and which will need real-money-casino.club place entirely on land in Revere. This wasn’t the plan voted on when residents took to your polls on November 5th, yet it seems as though at the least some payment members were willing to assume that Revere would have approved the plan that is new well.
‘What they voted on is clearly not exactly what’s on the table now,’ stated Gaming Commission chairman Steve Crosby. ‘But just what they didn’t know wouldn’t have changed their vote.’
Re-Vote Might Be Necessary
That statement doesn’t sit well with everyone, with at minimum one commentator saying that Crosby would need to have clairvoyance to know exactly what the result is on a vote that never happened. Gaming Commissioner James McHugh suggested that a vote that is second Revere might be necessary to be able to determine the might associated with the voters.
But that appeared to be a minority opinion on the five-member panel, which left some observers aided by the impression that they might come straight down in the side of Suffolk Downs. Your final decision will come at the gaming commission’s meeting within the week that is coming.
There’s also the issue of whether Boston would still certainly be a host community in the event that commission were to approve the plan that is revere-only. At least one prominent voice says that they must be.
‘I’m at a little bit of a loss to see how Boston would nevertheless not be a number community, given the proven fact that the casino proposal is merely sliding some buildings over a few hundred feet,’ said attorney Brian Leary, who chaired the committee that negotiated the initial East Boston host community contract with Suffolk Downs. ‘If Boston’s not a host community to them, i would like to understand why they genuinely believe that.’
If Boston were given host community status (in the place of ‘surrounding’ community status), then Suffolk Downs would have to negotiate with the town again over revenue-sharing and other dilemmas before they could move forward with obtaining the area’s casino license. It’s worth noting that Revere was considered a host community for the East Boston casino plan, despite the fact that no buildings and no parking that is primary would happen positioned in Revere.
New Jersey Wants to Lure Offshore Online Gambling Operators
Hoping to entice more gambling that is offshore to set up shop in Atlantic City, nj introduces new legislation compared to that end
What locales spring to mind when you think about online gambling operators? Malta, Gibraltar, and the Isle of Man: all of these are jurisdictions known for hosting countless Web gambling organizations that do company around the world. Now, nj-new Jersey legislators are hoping Atlantic City can be added to that eclectic mix of worldwide online gambling hotspots.
The legislation comes from State Senator Ray Lesniak, the man that is same was behind the push for on line gambling in New Jersey within the last couple of years. While Lesniak had originally mentioned his idea for luring worldwide businesses to New Jersey last thirty days during a press seminar, he only introduced the legislation late last week, which finally allowed the general public to comprehend the main points of his proposal.
Aliens Welcome
It ought to be made clear that this is certainly not legislation that would enable for the sharing of player pools for poker or other casino games, though New Jersey has suggested they may look into that later on (especially with other states that have regulated online poker). Alternatively, this bill allows companies to set up shop in New Jersey, then offer gambling that is online to players around the globe.
Ironically, that wouldn’t suggest they could necessarily offer their services to players in New Jersey, though. These businesses would nevertheless have to go through the same certification steps and partner with an Atlantic City land casino to offer Internet wagering within the state.
The biggest change from Lesniak’s initial proposition to the main one unveiled the 2009 week was a change in location. Originally, their plan ended up being to allow companies to create their operations up anywhere in the state. Nevertheless, after consulting with other State Senator Jim Whelan, he chose to change the law and require companies to base their online gambling operations in Atlantic City.
‘Obviously from Atlantic City’s perspective, the casino companies and so on, it’s great for the city plus it avoids any potential constitutional problems,’ Whelan said. ‘Do it in Atlantic City. The businesses are going to be here anyway.’
‘Do It in Atlantic City’: we smell a brand new marketing slogan for yes.
While it may not be instantly obvious why companies would like to relocate to the Jersey Shore, Lesniak thinks that at least some firms would wish the benefits which come with Atlantic City’s trusted name for controlled gambling.
‘The Atlantic City casino industry is well-regulated and highly respected, which provides an advantage,’ he said. ‘ We are able to capitalize on our strengths and attract business to construct and invest in our state. We shouldn’t allow these opportunities to migrate overseas to other countries.’
Welcome, Now Pay Up
That type of stability and regulation comes by having a price, however. Gaming profits would be taxed by New Jersey at 15 percent, that will be higher compared to many non-American jurisdictions that currently license Internet video gaming companies. Nevertheless, those companies would be capable of geting credits for any taxes compensated to their home countries. Lesniak acknowledges, of course, that some trade organizations among others might oppose agreements between New Jersey and jurisdictions that are foreign would be required for the on line gambling want to work.
Still, an estimate by Econsult Solutions says that the city and state could rake in the maximum amount of as $5 billion to $8 billion each were this legislation to be passed year. In addition, becoming an international online gambling hub could produce 11,000 to 16,000 brand new jobs for the state, a compelling feature for pressing this legislation through.
