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The event will be held at the Hotel Rey Juan Carlos in Barcelona, Spain. The markets influential and prestigious head honchos will get together to discuss and trade information on a number of topics. They will cover present marketing payment resolutions, gaming software and regulatory plots. Expected to speak at the EIG, are top name Celebes of the Industry. Nigel Willis from Gala Interactive and Peter Dean, the president of the Gaming Board of Great Britain, are among those who will take center stage. Attending the Expo are a number of established companies, such as, Boss Media, Cirsa, and Interactive Gaming Security Network. Sue Schneider, president of The River City Group, and a benefactor of the Expo commented on the upcoming event. She said, "This region is clearly the hub of regulated I-gaming internationally. There are a lot of good stories to share as well as excellent companies which serve the industry here."
A number of companies feel hesitant about the prospects of internet gaming in the Industry and believe it is only a matter of time that online gaming becomes a thing of the past. Ellis Landau, head financial official of Boyd Gaming Corp. said, "We don't build billion dollar casinos so people can play blackjack in their living rooms." After thirteen years Atlantic City will open its doors, to introduce The Borgate, a hotel and casino. Mr. Landau feels confident and anticipates The Borgate to be a success. The president and head operating official of Harrah's Entertainment Inc., Gary Loveman has similar feelings on the issue. He believes that the plan to expand casino venues throughout the country looks promising; since people enjoy traveling to different places in order to experience new "gambling cultures".Mr. Loveman further commented on the issue of online gambling. He said, "I don't know that Internet gambling is the right medium to deliver our product." On the other hand, MGM Mirage along with other companies feel more hopeful that online gaming will stand its ground in the industry. They have already started to test it out abroad where it is legal.
A new age phenomenon that is rapidly snowballing into an all-online world, has positioned itself in almost every home today. The days of ranting and raving about Pc's and the whole movement of the Internet emerging, has coiled down into a spinning comet that has paved the way for this new high- tech infinite industry. The rumored uttering of numbers and dollar signs bulging out of people's eyes has popularized a strong demand to get involved. A philosophical notion that the people of today feel the need to keep up with what's new and happening, in order to maintain a successful and prosperous future, has hit hard. The online industry has popularized itself by its billion-dollar label. Our exposure to entertainment and technology is our stimulus that fuels our imagination and the visual expectancy we demand. A mass urgency to create an online entertainment industry was quick to pass, marking it as a cornerstone for the gaming industry. Because of the staggering growth of the gaming industry, The American Gaming Association was on an advertising campaign mission to educate the masses of this new virtual versatile entertaining playground. The campaign set out to make a clearer understanding of the industry to the general public and decision-makers. A result of this successful mission is apparent, in that the online gaming industry is one of the highest-ranking businesses on the web today. Statistics show that Internet gambling revenue has grown from $1.2 billion in 1999 to $3.1 billion in 2001, and estimates show that by 2004 it will reach $6.3 billion.
Sinclair started to report on the gaming industry's market place in 1998, at present new reports have marked a first time call stumble for the money-spinning industry. Moreover, The River City Group, a gaming industry adviser, released a report on the unexpected low figures that have struck the industry. This year the Industry took a turn for the worse and found itself at a 10% low. In 2002, figures showed the market standing at $4.09 billion and are expected to go down even more, dropping to a 5% margin of $6.03 billion by 2003. The reports come after growing discussions on the issue of legalizing or illegalizing Internet gaming venues. However, there are two sides to the coin. Those who oppose legalizing online gaming are worried that underage gamblers will pursue the legal gaming arena and find themselves battling a gambling addiction. Though, many high ranking executives feel that to stop Americans from gambling online is unrealistically impossible. Mr. Sinclair on the other hand has no stance on the issue, but later squabbled on the matter, stating that the idea of outlawing online gaming is sketchy and could fail. He said, "I think the evidence overwhelmingly suggests that ... prohibition can be marginally effective at best."
Initial steps have already been taken by the U.K. lottery operator, Camelot, as they start recruiting other international operators to come together on this venture. The U.K. operator, owned by Consignia, Thales and DeLaRue, is under a seven year license contract that started a year ago. Camelot commented on its steps forward, saying, "We're encouraged by the progress we've made in discussions with the National Lottery Commission on a lottery game which would be played across several European nations." The lotto style game was developed with the intent of spreading out and increasing Camelot's operations frame as well as to diminish its dependence on central lottery game, which has seen better days. Lotteries that are already running will still continue to function amid the new lottery game. All in all, venturing in on this new European game with France seems to have high prospects. Operators will benefit from the expected increase in players, thus holding bigger numbered jackpots that could reach an estimated $78 million.
The storm was quickly nearing and becoming an imminent threat that the Gaming Commission ordered gamblers and low profile workers to evacuate by 6pm.local time Wednesday. Cash and surveillance equipment were left in the casinos. The rapidness of the storm disabled the normally instituted l2 hour shutdown process to proceed, whereby all staff would be evacuated and agents would seal the buildings. Larry Gregory, the executive director of the Gaming Commission, was able to get the okay from the Civil Defense Dept. to reopen the coastal casinos by 2pm. Thursday. However, seven other casinos in Greenville, Natchez and Vicksburg areas were being closed down by 2pm. Thursday. No time was set for their reopening as of yet.
The Internet Gambling Enforcement Act , H.R. 556, sole intention is to ban Americans from engaging in gambling activity on the approximate 1,500 offshore Online sites that are not under U.S. control. The law also, disallows credit card companies, certain online payment services and U.S. footed banks from doling out gaming dealings. However, even though the law seems to signify a successful mission accomplished, for anti-gaming organizations in the nation's capitol, it was reportedly not probable that it would pass the Senate office, according to sources. A senate member who did not want to disclose his name, said, "You have to remember this is the silly season. There's just a couple of weeks left before we break for the elections and this (the anti-gambling bill) will never come up in the Senate this year. All sorts of things get passed on a House voice vote just before elections so members can go home and say, 'Look what I got passed."
While the Asian gaming Industry is growing rapidly, the government of Macau has come up with a plan to give its gambling industry a complete overhaul. The plan is intended to create a whole new concept for the Asian gaming Industry, thus creating an "Asian" Las Vegas-like city of Entertainment. The project would include resort hotels, money-spinning lavish casinos, convention centers and a golf course. Last February, Stephen A. Wynn and Sheldon G. Adelson, Vegas's prodigious power figures, were granted gaming licenses therefore ending the Hong Kong Billionaire, Stanley Ho's forty year control over the Asian gambling arena. Mr. Adelson, who owns the $1.2 billion Venetian in Vegas, commented on the new plan, saying, "We are going to transform Macau. We want it to be known not just as a gambling resort but as an Asian Las Vegas." A number of affluent Hong Kong associates along with a prominent Macau lawyer and Galaxy Casino Co., powered by Adelson, pledged to the Macau government that it would guarantee the funding for the new project. It is estimated that the Vegas power holders will spend over $1 billion on the construction of an arena, a convention center and a number of hotels resembling the Venetian Casino Resort in Vegas. At present, Mr. Adelson is working on a smaller type casino project. The Las Vegas Sands Inc. is expected to open sometime around the end of 2003. However, Adelson has not as of yet purchased any property for the new Vegas like project. In the interim, it was reported that Wynn's cluster has leased the property next to the famous Lisboa and has stead- fasted itself to pay out $497 million on facilities in a seven year time frame.
The casinos would be built in Mexico's Tourist hot spots and border cities, such as Cancun, Puerto Vallarta, Acapulco and Tijuana. Even though most kinds of gambling are illegal in Mexico, approximately $500 million is spent yearly on certain gambling activities. Sports betting, cockfights, horseracing and some casino gambling function can be found in a legal designated seedy location. Gary Thompson, a representative for Harrah's Entertainment said that they would mull over teaming up with Mexican backers on introducing a multiple casino resort in Mexico. However, no definite campaign to start building has been decided. Mr. Thompson commented on the new idea, saying," In the past, there have been periodic talks by the Mexican government about legalizing casinos but they have never proceeded. "We are taking a wait-and-see attitude." President Vicente Fox, Mexico's main political parties, the hotel and tourism Industry and chief labor unions are all in support of the new bill, legalizing Casinos, Sweepstakes and Gambling games, as opposed to the previous law. Though, those who are against the bill, fear that gambling activity would cause gambling addictions, draw in drug gangs and would fuel money laundering activity. On the other hand, a number of business executives believe that the law would benefit and boost today's wilting Mexican tourism trade.
Many online betting venues feel that the new guidelines are a positive step in the right direction, while international "gaming goers" too, have observed the gaming sites as reliable and unfailing. Mark Blandford, from Sportingbet, a prime wagering group, said, "The UK is setting out its stall to become the gambling capital of the world." Consequently in August, Sportingbet packed up its saddle and made the move from Alderney to the UK. Mr. Blandford believes that this move will give the company "an open route to the market" and the skills to partner up with new betting venues. A study was done by Nottingham Trent University on the UK's stepping ground in the gaming industry, foreseeing a continual increase in betting profits amid bookie earnings reaching up to 70% as we speak. The director of the study summed it up by saying, "The UK is set to establish itself as the key player on the international stage for betting on sports events."
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