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Gambling revenues in Macau reportedly rose by 48 percent during December compared to one year ago indicating sustained growth. This is welcome news as many companies in Macau had been forced to cut costs during the difficult times of 2009. Gambling revenue in Macau totaled 119 billion patacas ($1.4 billion) last year and the overall on-year growth was 10 percent. This week's positive announcement for the world's largest gambling market also caused a sharp rise in the share prices of many Macau-based casinos such as Sands China, the Macau unit of Las Vegas Sands, Wynn Macau and SJM Holdings. Some casino stocks gained more than 5 percent in value. The first half of 2010 is expected to be very strong and build on this revenue growth. In fact, it is predicted that Macau gambling revenues will rise by a further 17 percent during 2010 provided the Chinese government doesn't introduce visa restrictions. The highlights are tipped to be Wynn Macau which will be opening a new resort in April and SJM which just opened ‘Casino Oceanus'. Meanwhile in Las Vegas The outlook, however, for Las Vegas-based casinos is unfortunately not so optimistic. The Las Vegas strip has already suffered 22 consecutive months of declines in gambling revenue. Markets in Atlantic City, Connecticut, Southern California and Southeast Florida have also been hit hard and a few casinos are even expected to close. Analysts speculate that unemployment and reduced demand throughout 2010 will continue to affect Las Vegas.
The prime minister of Thailand has vowed to put an end to the country's online lottery, but his opponents have accused him of being motivated by politics and not by facts. Abhisit Vejjajiva said Monday that he wanted to find a way out the contract, adding: "From my point of view, I see the cons of the online lottery. If it can be avoided, it should be." Abhisit said the online lottery would have negative impacts on society, claiming that it would bring about an increase in gambling and would be difficult to stop minors from participating. The matter will now be studied by a working group headed by a member of the PM's own ruling Democrat Party, to look into ways to get out of the contract without financial ramifications. Staying the Course But opposition leaders accuse Abhisit of turning against the lottery because it wasn't his idea in the first place. They point to the fact that the program was established in the first place by the administration of ousted former PM Thaksin Shinawatran for the exact purpose of putting to ticket overpricing and illegal underground betting. Shinawatra was ousted from power in a 2006 coup. Shares in Loxley Technology, the trading and telecoms group that runs the lottery, dropped around 21 percent following the PM's comments, prompting the company to threaten a lawsuit against the Thai government. The company signed a contract with the Thai government in 2005 to run the national online lottery.
It seems likely that Switzerland is about to liberalize its legal stance on online gambling and start licensing internet gambling sites. Economists predict that proper regulation of the Swiss internet gambling industry such as that being proposed could net more than $22 million every year for the government. It's hoped that this tidy profit alone will influence other European countries to follow suit. Online Casinos, Particularly Switzerland has decided to rethink its existing policy because of stiff commercial competition from foreign online companies and loss of revenue in taxes and not because of outside pressure from the European Commission or the World Trade Organisation. Further, Switzerland is focusing its attention primarily on regulating the online casino segment rather than on online betting and poker like many other countries. It is interesting to note that online lotteries and sportsbooks are already legal in Switzerland. Nest: USA? Given the many similarities between the two markets, Switzerland is being touted as a role model for the United States (along with other non-European Union countries). Firstly, neither are subject to external interference by third parties such as the European Commission (Switzerland is not a member of the EU) when reviewing and drafting their regulations. Plus, both countries are based on a federal system meaning that each state is allowed to draft its own gambling regulations and the challenge to negotiate a nationwide regulation can be avoided altogether.
The legal saga that featured the US ban on online gambling and the former CEO of internet gambling company BetonSports has come to an end. David Carruthers, who was indicted in 2006 and accused of accepting bets from US punters online, was sentenced Friday to 33 months in prison. Carruthers pleaded guilty to one count of racketeering conspiracy, following a plea deal he has reached in April 2009, which had him admit to knowingly breaking the law and all other charges being dropped. BetonSports grossed an estimated $1 billion plus a year in its peak, 98% from US players. Carruthers Case Closure: Carruthers had spent three years and five months under house arrest He had spent 32 days in jail He will serve 33 extra months following the sentence Carruthers agreed to forfeit $43 million to the US BetonSports was fined $28 million The site was shut down BetonSports founder Gary Kaplan has also accepted a plea bargain, receiving a 51 month sentence in November.
A massive settlement that stretches well beyond the borders of the province of Quebec is being hammered out and it's lottery problem gamblers who are going to benefit immeasurably from the deal. Loto-Quebec lends muscle to the fight There can be no mistaking Loto-Quebec's commitment to the issue: problem gambling is a no-no. As a responsible gaming organization, Loto-Quebec works hard to maintain its core principles and values and to promote an atmosphere of ‘good gaming governance' throughout Quebec. Their pursuit of addiction-free gambling is now being achieved with a legal settlement to the tune of millions of $. Furthermore, it's not only Quebec which is being affected by the news, its other provinces too. The out-of-court settlement is still being finalized and a hearing is scheduled in Quebec City for March 2010. It is all the result of a class-action suit which was filed in 2001 by a group of thousands of pathological gamblers. The large group of gamblers numbers 119,000 and they are seeking compensation in the province of Quebec. Assist in problem-free gambling At stake is the issue of Video Lottery Terminals (VLT). The thousands of gambling addicts and their lawyers are blaming these VLTs for the gambling addiction which has resulted in the lawsuit. It is hoped that the out-of-court settlement will send a strong message and go a long way towards combating problem gambling. The financial compensation of $5,000 per claimant would result in around $700 million worth of payouts from Loto-Quebec. By all accounts and purposes, the final settlement figure is expected to be closer to $50 million. All claimants are to provide evidence of addiction - in the form of discharge sheets from treatment clinics or receipts etcetera. It's an uphill battle, but treatment is on the cards.
PartyGaming has reached a five-year deal with the Danish government's gaming group, Danske Spil, under which it will provide an online gaming platform for poker and casino games. The online gambling giant made the announcement Monday, adding that the terms of the deal would be finalized in the coming weeks. The Danske Spil Group is one of the European Union's largest betting organizations, with an annual turnover of more than one billion Euros and more than half-a-million registered online customers. However the group had admitted that it needed to sign with one of the big online gaming companies in order to realize its full potential in anticipation of new gambling laws that are likely to come into effect in 2011. The Danish government published draft legislation in 2009 for a partially liberalized gaming market. If the legislation becomes law, poker and casino games will be opened to competition in the Danish market. PartyGaming are also waiting now for the changes, with CEO Jim Ryan saying that the company is looking forward "to building a significant and profitable enterprise as soon as the regulated Danish online gaming market opens." Visit Online Casino Reports for a world of Danish Gambling.
The poker community is in mourning this week following the death of World Series of Poker bracelet winner Amir Vahedi, who passed away on Friday at the age of 46. The Iranian-born poker professional is reported to have died from diabetes-linked complications. His death drew reactions from the biggest names in the poker world, including poker pro Phil Hellmuth, who called him "one of the nicest, gentlest guys on tour." The news was made public by fellow poker pro Mark Seif, who was a close friend of Vahedi. "Amir was a gentle and kind man who always made me laugh. I will miss him terribly," Seif said when announcing his death. Vahedi fled Iran after serving in its eight-year-long war with Iraq in the 1980s, eventually moving to California where he began his career as a poker pro. He was named no-limit Texas hold'em player of the year in 2001, but his best performances came in 2003, when he won his first WSOP bracelet and finished sixth on the final table at the WSOP Main Event, collecting $250,000 prize money for his effort. He later finished second behind Men Nguyen for Card Player Magazine's player of the year. Vahedi also made a name for himself as a celebrity. He won the third season of the Ultimate Poker Challenge and taught the trade to many others, including Hollywood actor Ben Affleck. Amir Vahedi won over $3,250,000 dollars in live tournament play over his career.
There was a time that opening up an account at an online casino was intimidating. People just didn't know what to expect. Nowadays, online casinos employ some of the most sophisticated web security measure, which protects your privacy, banking, and all activities online. Microgaming software, for example, comes fully equipped with SSL (Secure Socket Layer) Digital Encryption to its casinos. Today? Players roam the streets with smart-phones, tweeting to friends, downloading MP3s, playing casino games, managing their bank accounts, and many other activities. Mobile Casino Signup All Slots Mobile is not only a version of All Slots Casino that fits a small screen. Oh no. It's much more than that. And in some cases it's much less (which too is a good thing). The mobile casino - all 18 Java games of it - offers a simple signup process. Logging on you will be asked only for your country and phone number (or email address if you're an iPhone user). You are then emailed a code which you can enter to activate your account. As a loyal descendant of the actual online casino, the mobile version account, once opened, can serve you in logging on to the online casino itself. In doing so you actually simplify the process that's simple to begin with!
The United Kingdom could be set to begin licensing foreign-based online casinos, if a new proposal by the Department for Culture, Media, and Sports is enacted into law. The proposal, which was released last week, came in response to claims from locally based online gambling companies that they face an uneven playing field. Under the proposals, offshore online casinos would have to follow a series of rules to qualify for a license, including agreeing to share suspicious sports betting patterns, and to commit to protecting children and problem gamblers. Some industry experts have challenged the government's motives. Among them is PricewaterhouseCooper's head of gaming, David Trunkfield, who said: "You don't have to be too cynical to think that this is also going to be a way of raising tax." But others have backed the government's proposal, including Right2bet, an online group running a campaign in support of a free gambling market across the European Union. In a press release Monday, the group backed the assessment of British sports minister Gerry Sutcliffe, who said that the Gambling Act is among the best regulatory frameworks in Europe, because it allows open competition between companies, therefore giving consumers the best possible value and choice. For more on the UK gambling market and the Gambling Act, visit Online Casinos Reports UK.
Slots Club has announced its doors will close on January 31, 2010. In a couple of weeks the online casino will complete a short run of just under a year. The online casino, based on the NetEntertainment software and owned by Affiliate Club, was launched in February 2009. By shutting down at the end of the month it will complete a run that has lasted under a year. In fact, the casino has even undergone redesign efforts halfway through its life, back in July. In a note to players - though it does not appear on the casino's site - Slots Club addressed its players. "Dear Players," it opened. "The Management of Slotsclub.com is sorry to announce that SlotsClub.com will be closed on the 31 of January 2010. We would like to thank you for your loyalty during the year." Casino management urges its registered players to remove funds from their accounts before the day of closing. January 31 is the day the casino - and players' accounts - will all be closed.
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