Racing Victoria’s decision to enter a partnership with Seven West Media to broadcast all Victorian horse racing has paid off, as figures show wagering turnover has increased during the recent spring carnival. It was revealed that wagering between late September and the end of November had increased 4.9 percent from the same period in 2014, to $AU1.3 billion (US$935 million). “Those meets were not previously on free-to-air television,” Racing Victoria chief executive Bernard Saundry said. “It suggests the free-to-air model has been beneficial to Racing Victoria.
Monthly Archives: November 2015
The Salvation Army told store manager Kathleen Hinder she was suspended from work because customers complained about her, she smoked too close to the entrance and did not vacuum enough. Four years later, Ms Hinder believes she knows the real reason for her suspension: disability discrimination. The Blue Mountains woman has taken the religious charity to court, alleging her former bosses targeted her as a gambling addict. But is gambling addiction a disability as Ms Hinder claims? A NSW magistrate has cleared the way for the law to decide.
Raiders chief Simon Hawkins says clubs will close if the casino is allowed to install poker machines, and the Raiders group will call a halt to its $18 million expansion of its Gungahlin club. The Raiders group general manager has taken his concerns direct to Chief Minister Andrew Barr and is not reassured by the response. “The government seems to be fairly keen to explore [the casino’s request],” he said. “I’ve spoken to the Chief Minister personally. He’s certainly open minded to it.
The Philippine gaming slump is expected to continue amid the prevailing slowdown in gaming activities in Macau, according to First Metro Investment Corp. (FMIC), the investment arm of George Ty-led Metro Bank Group. In a report, FMIC said the Philippine gaming market is still highly correlated to Macau gaming. “Listed Philippine casino and hotel operators have seen their share prices decline by more than 50 percent year-to-date despite consolidated gross gaming revenues in the country increasing by a fifth in 2015,” the report said.
Hong Kong-listed Imperial Pacific International Holdings Ltd held the official opening of its “temporary casino” on the Pacific Island of Saipan on Friday. The venue operated via a local unit called Best Sunshine International Ltd will be used as a live-training casino facility until the opening of the permanent property, the firm has said. “We are very excited, and it’s also all about giving thanks and having fun,” said Best Sunshine’s chief executive, Mark Brown, quoted by local newspaper Marianas Variety.
The theft of millions of dollars from investors in a Macau junket operator has sparked months of protests and hastened the demise of a business model that greased the wheels of the $44 billion global gambling hub for over a decade. Brandishing banners and loudspeakers, dozens of investors have protested outside Wynn Macau Ltd’s casino for two months, demanding the return of money stolen by an employee of junket operator Dore Entertainment Co. Ltd and accusing Dore’s head of dodging responsibility. The crime has left the junket industry’s reputation in tatters and sped up the Chinese territory’s shift away from VIP gamblers who used to account for more than 80 percent of its gaming revenues to the mass-market segment of less wealthy Chinese tourists.
Macau’s gaming operators have delivered results that are in-line or a slight shortfall of Street expectations in Q3, 2015. However, analysis from Bernstein shows that casino operators will begin to diverge in performance, as the competitive environment in Macau continues to evolve with a greater focus on the mass market. With new properties continuing to open in Cotai, and businesses to follow, Bernstein prefers operators with exposure to mass in Cotai such as (Sands China, Melco Crown), whilst casino operators with Peninsula-concentrated product portfolios (Wynn Macau, MGM Macau, SJM Holdings) will continue to lose market share over the medium-term.
The 2016 edition of the Macao Gaming Show will take place one month earlier than usual, the organiser announced over the weekend. The trade show is scheduled for October 11 to 13, again at the Venetian Macao casino resort, on Cotai. The new calendar means Macao Gaming Show 2016 will take place less than two weeks after the Global Gaming Expo (G2E), in Las Vegas, United States. G2E, as it is known in the industry, is one of the world’s largest trade expos for the gaming sector it is organised by the American Gaming Association and Reed Exhibitions.
Macau’s economy contracted a fifth straight quarter as the world’s largest center of gambling was pummeled by an economic slowdown in China and the government’s attack on corruption which scared off high-rollers. The Chinese city, which relies on gamblers for about two- thirds of economic output, saw GDP tumble 24.2 percent in the three months through September, easing from the 26.4 percent drop in the second quarter, government data released Monday showed. Casinos in the former Portuguese colony have tried to reinvent themselves by focusing on tourists rather than hard- core gamblers, even as the city’s Beijing-backed chief executive predicted a third year of pull-back in the industry in 2016.
Myanmar police believe there are around 50 casino “clusters” in the Kokang Self-administered Zone, suggesting around 7500 gambling tables, all operating without official licenses, local media reports. “A cluster of casinos is composed of at least four or five casino halls. Each hall has about 30 gambling tables. Hundreds of staff work at each cluster,” said a Laukkai resident who previously worked as a security guard. In February following an outbreak of war between the Tatmadaw and the ethnic Chinese forces of the Myanmar Nationalities Democratic Alliance Army (MNDAA) the casinos were initially forced to close but gradually reopened.