Las Vegas Sands Corp president and chief operating officer Michael Leven told a forum at the Global Gaming Expo in Las Vegas last week that Macau’s casinos faced “some limit on the availability of people” unless the government changed its rule that only residents could be employed as croupiers. Sands China says it has not asked the government to change the law. It says Mr. Leven’s comments were a summary of the labor situation.
Monthly Archives: September 2013
Wynn Macau Ltd is suing a mainland tycoon to recover $1.81 million in gambling debts it says it is owed… is suing Li Jun, who owns Abest Group, a conglomerate with interests in property and selling cars… In January, The Venetian Macao, operated by Sands China Ltd, sued Shanghai businesswoman Zou Yunyu and Xie Xiaoqing, a deputy to the Hubei Provincial People’s Congress.
Macau gaming equipment supplier LT Game Ltd has signed an agreement to supply electronic gaming machines and other equipment to Entertainment Gaming Asia Inc… install and maintain electronic baccarat and roulette games with 30 seats at Dreamworld Pailin in northwestern Cambodia for the next five years. LT Game will take 15 percent of the gross net win before tax.
Goa should look to London and not Las Vegas for inspiration when it comes to setting up a regulatory mechanism to control growing casino operations here, said Panaji Mayor Surendra Furtado. Speaking to IANS, Furtado said Panaji, a riverine city which is virtually the capital of India’s casino industry, should not emulate the world’s sin-city Las Vegas when it comes to setting up of the proposed Gaming Commission… “Everything in Las Vegas favors gambling because the economy depends on gambling money. The London gambling scenario is more like Goa, where casinos are only one part of what it offers,” Furtado said.
The Philippines’ Travellers International Hotel Group plans to cut the size of its initial public offering (IPO) by about half to $450 million as it prepares to launch the deal in Manila… Travellers is a joint venture between casino operator Genting Hong Kong Ltd. and Philippine conglomerate, Alliance Global Group Inc., whose chairman and CEO, Andrew Tan, is ranked by Forbes as the country’s third-richest man. In June, the company delayed its original $842-million IPO because of weak markets… The size has been reduced due to the drop in share prices across Southeast Asia which has affected valuations, the sources told Reuters, adding the deal could be priced in the middle of October.
Melco Crown Entertainment Ltd co-chairman Lawrence Ho Yau Lung says limits on the growth of casinos here make Japan a worthwhile investment. Mr. Ho told Bloomberg that Macau was a “small place” and that he wanted to build a theme park here but “we just don’t have the land to do it”. “Given the Macau government and the Chinese government want to control the growth rate”, the company had sought opportunities the Philippines, in Russia and was lobbying for the legalization of casino gaming in Japan.
Melco Crown Entertainment Ltd. (6883) said it plans to invest more than $5 billion in Japan casino resorts if it receives permission to build in what could be the world’s second-largest gambling market. The Hong Kong-based casino operator, the venture between Macau casino mogul Lawrence Ho and Australian billionaire James Packer, prefers developing resorts in the country’s capital of Tokyo and Osaka, Ho said in an interview yesterday in Tokyo…Melco joins U.S.-based competitors such as Wynn Resorts Ltd. (WYNN), MGM Resorts International and Las Vegas Sands Corp. (LVS) in seeking expansion opportunities in Japan as Tokyo’s selection to host the 2020 Olympics boosts confidence the government will legalize casinos. Wynn and MGM executives have said their companies would invest several billion dollars in Japan.
From Tuesday, all public servants will have to declare their visits to local casinos if they go more than four times a month, or if they purchase an annual pass. The declaration must be made within seven days, said the Public Service Division (PSD) on Monday.
Global Reviews asked Australians if they could name any sports betting companies without prompting and Hills’ most recent acquisition Tom Waterhouse … were asked to express a preference for a particular betting brand, the Waterhouse ranking fell to just 12%. The scores were even worse for Hills’ other recent acquisitions. Centrebet’s brand preference rate was half that of Waterhouse’s, while Sportingbet didn’t even make the top-five. Paddy Power subsidiary Sportsbet topped the preference chart with 34% followed by Tabcorp’s TAB offshoot at 21%.
Online betting sites had a field day taking in bets from the hysteria surrounding the birth of the royal baby a few months ago. In some ways, that was expected considering that folks from the UK love betting as much as they do anything involving the Royal Family… And to no one’s surprise, it’s the online betting site that has made a habit of offering some of the most outrageous prop bets you can find: Paddy Power. Care to put some money on what Prince George’s first word is going to be? Paddy Power has lines for over 50 words and phrases, including favorites like Mama (2/1), Papa (9/4), Nanny (8/1), and No (10/1) all the way down to the unlikely and downright impossible, a list of which includes Winnie the Pooh (40/1), Dora the Explorer (66/1), “Where is one’s soother?” (100/1), “Mine’s a gin and tonic” (200/1), and, of course, “supercalifragilisticexpialidocious” (500/1).