Progress to bring integrated resorts (IR) to Japan continues to advance, albeit not always without having to cross a few hurdles. There are still a lot of questions that need to be answered before the image on the canvas comes into focus, but the paint brushes are constantly flying. Nagasaki has closed its request-for-proposal (RFP) as expected, while things in Yokohama are both up and down at the same time. That’s potentially good news for certain operators hoping to win over the local government as they present their cases to be the chosen casino operator.

Nagasaki began receiving RFPs on January 7, anticipating the process to last for three weeks. According to Masahiko Kunihiro of Nagasaki’s IR planning department, last Thursday was the last day for submissions and five applications were received. The names of the candidates haven’t been released, and Nagasaki’s IR committee will now spend the next few months reviewing the applications. In August, it is expected to announce the winner, with a goal of having a resort ready to welcome guests sometime in the last half of the decade.

The governor of Nagasaki, Hodo Nakamura, added in a statement, “The public tender for the Kyushu-Nagasaki IR started on January 7 and the application period that closed at 5 PM on January 28 resulted in five groups spanning the U.S., Europe and Asia applying. I would like to express my sincere thanks to the applicants and their partner companies for their applications during a time when the world continues to fight COVID-19. We will continue to follow the national basic policy and proceed with a rigorous review for our IR operator selection.“

The Yokohama prefecture, which has had to deal with more resistance to the IR concept, isn’t planning on backing down from its goal of becoming one of the first three locations to host a casino resort. Amid attempts to oust the mayor of the city of Yokohama, Fumiko Hayashi, the local government has set aside $3.43 million in its new fiscal year budget to promote the benefits of an IR. Last year, it had spent $3.8 million on marketing the idea, but is putting more money into overcoming COVID-19. It has almost $2.3 billion of its annual budget allocated for various projects, including support for small- and medium-size companies, welfare and more. Hayashi explained of the budget layout, “The budget proposal puts both measures against infectious diseases and economic revitalization as a top priority, and Yokohama will make strong progress toward future growth.”

With casino’s closed half the year, the Philippine Amusement and Gaming Corporation (PAGCOR) saw a very dismal income for 2020. The regulator-operator brought in P1.57 billion ($32.7 million), dropping nearly 84% from P9.66 billion the year before.

The take for 2020 declined largely due to gaming operations, which dropped 60% year over year to P30.00 billion from PHP75 billion. Of that, P7.14 billion came from casino customers, and over P27 billion from other sources, such as junkets, non-casino customers and “other” income.

Licensed casino revenue fell just as much, dropping to P11.52 billion. Junket operations were halved to P397.8 million. Finally, Philippine Offshore Gambling Operators (POGOs) dropped the least, down 18.7% to P4.66 billion.

Close to P16 billion were deducted in taxes and government contributions. One benefit of 2020 was reduced costs, which fell 42% to P18.68 billion from the previous P32.24 billion. But a repercussion of the cut costs were less payments to “corporate social responsibility projects,” which fell to P4.75 billion from P13.62 billion.

Last December, casinos in Macau enjoyed a small boost in activity over what they had reported a month earlier. Gross gaming revenue (GGR) was still way below what everyone wanted, 65.8% lower than it was in December 2019, but was still a 16% month-over-month improvement. Even though 2021 hasn’t gotten off to an overwhelmingly successful start, there is still movement in the right direction, and Macau’s casinos reported GGR that was better than it was last month.

Since February of last year, Macau’s casinos have seen nothing but extremely weak performances, with just a few minor spikes throughout the year. Two consecutive months of improvement can be seen as a small victory for the gambling properties, as well as the city, and January’s GGR was 2.6% better than it was in December. Approximately $1 billion, according to Macau’s Gaming Inspection and Coordination Bureau (DICJ, for its Portuguese acronym), was reported by the city’s casinos.

The uptick isn’t enough to cause massive celebrations, especially since it has already been predicted that the upcoming Chinese New Year (CNY) won’t bring any kind of relief. As COVID-19 continues to find new ways to threaten populations, Macau, as well as other areas, has been forced to tighten travel rules, which is limiting the city’s ability to expand. China, the largest feeder for Macau, has been taking additional measures, as well, and this is impacting any potential exercises to increase visitation to the city.

Based on the figures provided by the DICJ, analysts with the Sanford C. Bernstein brokerage were able to determine who is giving the city the biggest boost. They explained in an update released today, “On a relative basis, premium mass was the best performing segment during the month, while junket VIP was most hamstrung and base mass continued to be hampered by low levels of visitors and Hong Kong travel closure.” They added that January “continued to be negatively impacted by visitation bottlenecks due to visa processing and [COVID-19] test requirements, and by weakness in VIP volumes.”

Poker, to many, is the Cadillac of card games. Stretching out forever, perceived as cool by may outside the game, how can you always feel like a winner when you’re playing the game day in day out?  

Well, you can start by reading these super-cool poker quotes. From a swinging sixties singer to the Devilfish, being cool and playing poker is made to sound easy by these legends.

1. “If there is one ‘X Factor’ that unites all great poker players, it’s their willingness to play aggressive poker.” 

Phil Gordon hits the nail on the head when he speaks about the importance of aggression in poker. The game has gotten a lot more aggressive in recent decades, of course, and this call on what gives poker players their ‘X Factor’ still stands.

The life of a poker player can often be summarized by a style, a trophy or sometimes, a single hand. In the case of T.J. Cloutier, however, his is a legacy that is more of a consistent presence in the game, and one that will never be forgotten.

What is the background of Cloutier? It’s an at-times surprising rise to fame and fortune for a former sports star turned poker pro.

Let’s go right back to the beginning and find out about a true poker idol.

Born and Bred in Cali

Another entertaining week in the English Premier League saw some shock results, a first victory for Thomas Tuchel at Chelsea and a couple of extremely disappointing performances from the Manchester clubs.

Elsewhere, however, Leeds United won away at Leicester, Newcastle got a vital three points on the road too at Goodison Park and West Ham and Liverpool played out a bruising encounter in East London.

Let’s take a look back at all the action of a very busy weekend full of English Premier League fixtures.

Everton 0-2 Newcastle United

The Americas

Two teams are left to fight out Super Bowl LV in 2021, with the Tampa Bay Buccaneers set to take on the Kansas City Chiefs; Former U.S. Presidential candidate Andrew Yang remains the favourite to win the New York City Mayoral elections. Yang has taken an early lead in the race thanks to name recognition and door-to-door campaigning; Former NBA star Shaquille O’Neal has signed a deal to become an ambassador for Australian sportsbook PointsBet in the U.S. O’Neal will be the face of the company as it continues to expand its presence in the U.S.; Massachusetts is set to remove curfews in a move welcomed by the casino industry; Winamax Pro Ivan Deyra has been dismissed as an ambassador and forced to pay back winnings after being exposed as a multi-accounting cheat. The French player was busted using multiple accounts during a World Series of Poker event; Casino operator Bally’s Corporation has further diversified its offering by acquiring daily fantasy sports operator Monkey Knife Fight (MKF), while rival Caesars Entertainment has made its own DFS play; Great Canadian Gaming Corp CEO Rodney Baker has been forced to resign in the wake of growing scandal. The CGC CEO and his wife were caught out breaking health protocols in a bid to receive the COVID-19 vaccine; Google is set to permit real -money gaming on a host of apps on its Google Play marketplace. The internet giant will relax its stance from March 1 and expand their policies to include real-money gambling apps in several new territories; BetMGM have continued their campaign of exclusive media partnerships. The company announced a new deal that will see it partner with The Athletic on a new betting content collaboration.

Europe

Spanish gaming company Codere continues to work with creditors to avoid bankruptcy. The casino operator has struggled under the weight of COVID restrictions and huge changes in currency conversion rates; Swedish authorities have come down hard on online casino licensee Videoslots. The slots operators received a fine for their conduct over customer deposit limits; The Malta Gaming Authority (MGA) have found their new CEO. The MGA announced that Dr Carl Brincat has been appointed to take on the top role; U.K. sportsbook William Hill has made the decision to embrace renewable energy. The company has made a commitment to reduce its carbon footprint in the U.K. over the next 24 months; U.K. gambling regulators have reached a £1.3m settlement with licensee White Hat Gaming. The U.K. operator was found to have inadequate policies towards anti-money laundering and social responsibility

Super Bowl LV is right around the corner. On February 7, the Kansas City Chiefs and Tampa Bay Buccaneers will battle to determine for the NFL championship in what is expected to be a highly competitive game. It will also be the biggest Super Bowl in terms of sports gambling, and everyone is looking to make things as exciting as possible. VSiN, the network dedicated to sports gambling, is ready to kick things up a notch, promises to offer the “deepest Big Game coverage ever available.”

VSiN has been covering the Super Bowl for five years and continually introduces new ways to enjoy the event. This year, it will offer extensive coverage of the Big Game, including dozens of sports gambling pros, analysts and personalities, as well as NFL insiders and bookmakers. VSiN founder and CEO Brian Musburger explains, “Sports betting in the U.S. has exploded since we hosted our first Super Bowl special in 2017. Four years later, VSiN has assembled our strongest lineup and a team with unmatched sports betting expertise to cover sports betting markets across the country and around the world.”

To keep football – and gambling – fans entertained, VSiN has put together the Super Dashboard, which will provide access to stats tied to Super Bowl markets. This includes line movements, where sports gambling money is being spent and more. In addition, Brent Musburger will host Betting The Big Game with Brent Musburger, a one-hour show that will include exclusive insights and analysis. It will air all next week and will be available on demand as of next Tuesday.

Sports gamblers will want to check out VSiN’s live BetCast during the Super Bowl. This will be hosted by the network’s gambling experts, who will analyze the game from a gambling perspective as it happens. In addition, VSiN plans on having its in-house crew running live events for the network’s halftime show, which will give an update on how the gambling markets are running. These shows are expected to be held at the South Point Hotel & Casino, Circa Resort, and Mandalay Bay in Las Vegas, MGM Grand in Detroit, BetRivers in suburban Chicago and the Borgata in Atlantic City.

Germany is putting together its plans for online gaming and a recent effort by finance ministers in the country resulted in new tax proposals that are already causing problems. They suggested a tax of 5.3% for online poker stakes and 8% for online slots, just for a gambler to pull the handle. The Düsseldorf Institute for Competition Economics (DICE) studied the data and came to the conclusion that the tax rates would have an adverse effect on Germany’s gaming efforts, leading to more gamblers taking their business underground. 

The Deutscher Sportwettenverband and the Deutscher Online Casinoverband, two gaming operator associations, asked DICE to conduct the study to determine if the tax rates were feasible. The economics group returned its diagnosis, asserting that higher taxes would be detrimental to Germany’s regulated gambling market and, as a result, could possibly create a larger illegal gambling market. Eliminating underground gambling is one of the key reasons governments move to legalize gambling in the first place.

DICE explained that the 8% slot tax would make payout ratios potentially smaller and suppress competition. These two problems, combined with forcing players underground, would create a trifecta of issues that would keep Germany’s legal gambling market from flourishing. Not only would this harm the revenue possibilities, according to DICE, but it would also make it more difficult for the country to offer gambling protection and addiction programs. That is the second key reason many governments have been willing to legalize gambling.

DICE believes that the finance ministers settled on their proposed tax rates without looking at the bigger picture. They assumed that the volume of illegal gambling wouldn’t grow; however, the economic group points out that this is contrary to what has already proven to have occurred in other countries and that the assumption is “unrealistic and incorrect.” It also asserted that there isn’t much of a need to include a higher tax rate in order to offer greater player protection since the existing framework is being crafted in such a way to offer security against addiction. 

The build up to a potential Nagasaki Integrated Resort (IR) bid is getting interesting. Mohegan Gaming & Entertainment have announced a partnership with Oshidori International Development, a local firm, to pursue a coveted casino bid. The casino operator announced the partnership in a January 27 press release.

The two companies emphasized their intention to create a “dynamic community for Nagasaki to become a premium travel destination and premier residential choice.”

Oshidori CEO and Chariman Alex Yemenidjian, formerly CEO of MGM Resorts, celebrated the partnership. “Through our joint bid, we aim to highlight the rich culture and diversity of the Nagasaki area, and look forward to the positive impact this project will have on the entire Kyushu region.”

This is the second attempt at a Japanese bid by Mohegan. Previously, they were interested in a Hokkaido resort before the governor of that prefecture withdrew from the race in 2019. Although its hard to know when the national Japanese IR process will be decided, Mohegan’s upcoming Inspire Korea, launching in Incheon in 2023, will likely help their bid. Mohegan CEO Mario Kontomerkos commented:

BetMGM have continued their campaign of media partnerships, announcing an exclusive sports betting partnership with The Athletic, a premium, subscription-based sports website. The companies announced their collaboration in a January 28 press release.

As part of the deal, The Athletic will have a new content vertical dedicated to the collaboration called the Betting Hub, as well as offer in-depth content and product integrations.

“BetMGM has pioneered the online gaming industry and as we sought to establish The Athletic as a home for great betting content, we knew there would be no better partner,” said Evan Parker, The Athletic’s General Manager of Content Operations. “As we collaborate on this new venture, we share a joint vision for how to seamlessly blend media, analysis and betting into unique, premium experiences for The Athletic subscribers.”

Matt Prevost, BetMGM’s Chief Revenue Officer, explained why The Athletic appealed to them as a partner, “The Athletic has an incredibly engaged and loyal readership and we look forward to introducing their fans to the BetMGM sports betting brand. They also have an outstanding product and, through integrations and collaboration, this partnership complements The Athletic’s premium offering.”

The line in the sand that has kept Imperial Pacific International (IPI) in control of the Imperial Palace casino resort project in Saipan has moved several times, but not anymore. Amid investigations that have spanned more than five years and acknowledgments by the company that it is both clueless and powerless, it appears that someone is finally taking the bull by the horns to force IPI into carrying itself like a reputable and ethical company. As the Commonwealth of Northern Mariana Islands (CNMI) spends much more time than it should dealing with IPI’s issues, CNMI Chief Judge Ramona Manglona is laying down the law. The embattled company needs to either make good on its outstanding obligations to employees or it will face receivership. She gave IPI until March 1 to comply, according to Asian Gaming Brief. 

IPI, after finally being painted into a corner, began paying its employees all of the money they’re owed, which covers several months’ worth of work. It didn’t explain where the money came from or why it wasn’t able to get it sooner, but IPI still owes. In addition, the company has to find $800,000 that it can put into an escrow account in order to be able to pay employees when IPI repeats itself. If the company can’t make good on its financial obligations by the beginning of March, Judge Manglona is ready to send the company into receivership and liquidate its assets, something others have wanted for several months. 

Not only does IPI have to scramble now to cover its debt, but Judge Manglona denied a request by the operator to lift her stop-work order. Construction equipment at Imperial Palace will stay immobilized for now, although administrative employees and other workers can get back on the clock. This decision to keep the construction stop-work order in place is almost a guarantee that IPI won’t be able to meet its February 28 launch deadline, which would mean the company would be in trouble once more. Any delays could lead to a breach of contract, although, given IPI’s track record, it will try to deny responsibility. 

As an example of the company’s failure to own up to its mismanagement, IPI’s acting CEO, former senator Ray Yumul, completely deflected any responsibility the company may have for the issues related to its inability to pay its obligations to the CNMI government. He blames that government and regulators for the problems, ineffectively arguing that the government has made too many demands of the company and that IPI’s required contributions to the local Community Benefit Fund are “ridiculous.” In remarks to the House Gaming Committee, Yumul asserted, “It should have just been a simple bid—highest bidder takes the license, builds the building,” adding that the local government’s demands are “how IPI went from a promising industry to a struggling one today.” He neglected to mention the part where IPI could have refused to accept the terms of the licensing agreement and sought new business ventures elsewhere, and the fact that IPI has yet to “build the building” it promised to have ready three years ago.

It’s not like anyone enjoys continuing to dredge up the issues caused by COVID-19, but the statistics still have to be revealed in order to bring the larger picture into focus. Macau’s casino and hospitality segments took a massive hit last year because of the global pandemic, with the city coming to a virtual standstill for most of the year. Things started to tick upward in December, albeit slightly, and there was a little more activity than what had been seen in months. While it certainly wasn’t enough to turn things around and predictions for this year indicate continued distress, Macau’s hotels saw an average occupancy rate of 53.1% last month, 9.2% more than what it was just a month earlier. However, that figure carries a huge red asterisk that skews the results drastically.

December gave Macau’s hotels their best month since last January, when the average occupancy was 79.4%. That was just as the true nature of the threat caused by COVID-19 was starting to be understood. It didn’t take long for health officials around the world to slam on the breaks and bring entire industries to a grinding halt. What was initially expected to be just a momentary break that would potentially last a couple of months has turned into a major nightmare for businesses everywhere.

Macau’s casinos reported gaming revenue of $978 million in December, which was almost 66% lower than it was a year earlier. However, like the hotel activity, it was the best month since last January. It was also a 16% improvement over what was recorded in November. However, the improvements in the two are not completely related. In December, according to Macau’s figures, there were 35,100 hotel rooms available – 3,900 fewer than there had been in January. This alters the results in favor of improved performance, but it still looks good on paper. 

The average occupancy for five-star hotels in Macau settled at 51.9% in December, 41.4% less than it was a year earlier. Four- and three-star hotels averaged 56.8% and 63.4%, respectively, with both losing over 30% of the business they had enjoyed in December 2019. In total, 578,000 check-ins were recorded last month; however, many of these were Macau residents. 

Genting Hong Kong (Genting HK) is busy trying to overcome obstacles that are preventing it from advancing its dreams. Most notably, the COVID-19 pandemic has led to unexpected losses that resulted in the company’s chairman, Lim Lok Thay, using his stake as collateral to keep things going. Apart from its cruise ship business, the Genting Group subsidiary had been involved in a project to add a casino resort to Macau, but Genting HK gave up half of its position last November in order to pick up some cash. Now, it expects to sell the remaining 50% to the same buyer, possibly by the end of this year.

Genting HK indicated yesterday that it successfully handed over the 50% stake to White Supreme Corp. as planned on December 2, 2020. As part of that agreement, White Supreme has a Call option that would allow it to agree to purchase the other 50%, with the stipulation that it make its decision within 12 months of the signing of that agreement. If it doesn’t decide or decides not to purchase the stake, Genting HK has a Put option in the contract that it can use to require White Supreme to buy it. That Put option is in effect until December 1, 2022. 

The sale offers Genting HK a little breathing room, at least for now. The Macau project has already cost the company around $136.7 million since it began almost four years ago, and still needs more than $350 million invested in order to bring it to life. However, the sale also cost Genting HK around $156.7 million in total due to “consolidated net liability value of the target group of approximately US$51.8 million” and around $304.7 million due to a loss on the assignment of a sale loan and other impairments.

Genting isn’t the only company with operations in Macau that is hurting right now because of COVID-19. Studio City Co., a subsidiary of Studio City International (SCI), can’t survive as it stands right now, according to Lucror Analytics, and will have to find a way to generate money by next year so that it can cover its “liquidity needs.” SCI is controlled by Melco Resorts and Entertainment, which is facing problems of its own. 

Ed Pownall looks into the error of DFS investments, Nevada’s surprising figures, Dutch regulators & Finalto’s sale.

https://www.youtube.com/watch?v=O8tLrY5BNY

The post The Industry Eye – Season 8 Episode 8 appeared first on CalvinAyre.com.

From The Simpsons to the poker table, Hank Azaria commands to a heap of respect. So the news that the Hollywood movie star, who has starred in films such as Run Fatboy Run and The Simpsons Movie and television such as Friends, Ray Donovan and Brockmire, will lead the star-studded cast at the felt in PokerStars’ new Hank’s Home Game series can only be a good thing.

Back in May, the PokerStars ‘CALL for Action’ event saw more than $1 million donated to charities with 90 celebrities coming together before David Costabile won $100,000 for his chosen charity – World Central Kitchen. This time, Azaria has a series to offer.

Each episode of Hank’s Home Game will feature six celebrities butting egos at the online felt, with cameras on each superstar bringing the banter to life. What are they playing for? Well, their share of a $50,000 donation the charity of their choice. It could be a life-changing donation.

So, who else will be taking each other on via the PokerStars YouTube channel? Well, some absolute A-listers. Actors Don Cheadle, Jon Hamm, Josh Charles and Michael Cera will join Azaria and comedian Michael Ian Black at the felt from 6pm GMT (United Kingdom time) on this Sunday, January 31st.

Technology giant Google will permit real-money gambling apps in its Google Play marketplace in a host of new countries as of March 1, as the company continues to relax its formerly strict anti-gambling stance. 

On Thursday, Google announced updates to its Google Play Policies, dramatically expanding the number of countries in which real-money gambling apps, gambling-related ads and daily fantasy sports apps are permitted. At present, real-money apps are permitted only in the UK, Ireland and France, as well as Brazil (but only for state lottery operator Caixa Economica Federal).

As of March 1, real-money gambling apps will also be permitted in (deep breath) Australia, Belgium, Canada, Colombia, Denmark, Finland, Germany, Japan, Mexico, New Zealand, Norway, Romania, Spain, Sweden, and the United States. 

While Google’s real-money policy encompasses online casino, sports betting, lotteries and DFS, there are market-specific restrictions for each of the above countries (listed here). For example, Australian law doesn’t allow online casinos, so those are out, while Canada’s real-money apps are restricted to “governmental operators only” (at least, for the time being).

Nevada casinos took a gaming revenue gut punch in December 2020, with sportsbooks the only gaming vertical to post year-on-year growth. 

Figures released Thursday by the Nevada Gaming Control Board show the state’s casinos generated combined gaming revenue of $683.7m in December, a 35.3% decline from the same month last year and $87.5m below November 2020’s total. It’s the lowest monthly total the state has endured since August 1997.

The figures were laid low by Gov. Steve Sisolak’s November decision to halve the casinos’ already restricted capacity to just 25% of normal. The fallout was most apparent on the Las Vegas Strip, which saw its December gaming revenue fall by more than one-half to $292m, while Downtown Vegas was down a comparatively mild 28% to $45.5m. 

December’s statewide slots revenue was down more than one-third to $459m, while the ‘table, counter & card games’ segment fell 37% to $224.7m. Every single product in that latter category suffered double-digit declines, led by baccarat ($63.2m, -17%), blackjack ($48.4m, -54.9%), craps ($19.6m, -48.5%) and roulette ($14.8m, -42.4%).