Monthly Archives: March 2015

Macau casinos can’t blame Australia, South Korea or the Philippines for decline

Macau casinos might want to blame other regional gaming jurisdictions for the downturn in VIP gambling activity, but a new report says this claim is overblown.

Morgan Stanley analysts issued a report this week examining the causes of Macau’s VIP decline. February’s VIP gaming revenue was off 50% year-on-year and analysts are expecting a similarly epic swoon when March numbers are released next week.

Beijing’s corruption crackdown is the prime culprit in Macau’s VIP decline, but competition from casinos in Australia, South Korea and the Philippines is routinely cited as a chief contributing factor. Leading junket operators like Suncity and David Group have made no secret of their plans to expand their presence in these markets, which are ramping up as Macau winds down.

Morgan Stanley acknowledges that these other jurisdictions have benefited from Beijing’s crackdown, but not to the degree many suspect. True, Australia’s VIP market rose 80% in the second half of 2014, while South Korea gained between 20% and 30% over the same period.

Industry vet Tony Mancini named CEO of Global Visual Group

Global Visual Group has appointed 30-year retailing veteran Tony Mancini as CEO. Mancini has held significant senior executive leadership positions, including Las Vegas Sands Corp., MGM Mirage Design Group and Walt Disney Parks & Resorts/Walt Disney Imagineering, leading its global capital development portfolios worldwide.

New Jersey publishes online gambling market responsible gambling study

New Jersey gaming regulators have published the first research report into the impact of the state’s regulated online gambling market on problem gambling.

The report (viewable here), which was submitted by Rutgers Center for Gambling Studies’ Lia Nower, covers the first full year of New Jersey’s online market. The study is the first of four annual reports that Gov. Chris Christie insisted upon when he approved the state’s online gambling legislation in February 2013.

Of the three states that have launched regulated online gambling operations, Nower says New Jersey’s regulations are “the most clearly directed toward aiding consumers in making informed choices about their gambling behavior and promoting responsible gambling (RG).”

In overall terms, Nower says “very few” gamblers utilized any of the RG features. Nower also said that the data couldn’t distinguish players who selected these options at multiple online skins, meaning the actual take-up rate could be even lower than the numbers indicate.

Dubai World Cup preview

Dubai World Cup preview
By Jerry Bossert @JerryBossert

Last year, California Chrome took trainer Art Sherman on an incredible journey, traveling across the country, winning the Kentucky Derby and the Preakness Stakes, before ending with a fourth-place finish in the Belmont Stakes.

Now, the 77-year-old trainer has his bags packed again as California Chrome has taking him halfway around the world to Dubai, where he’ll compete in the $10 million Dubai World Cup, the world’s richest horse race on March 28.

California Chrome drew the outside post in the field of nine and was made the 8-5 morning-line favorite in the mile-and-a-quarter race.

“I call him the California rock star,” Sherman said. “He’s got such a following all over the world. I thought nobody would know in Dubai but from the moment I stepped off the plane, people said ‘there’s California Chrome’s trainer’.”

California Chrome will try to become the third Kentucky Derby winner to win the Dubai World Cup in the race’s 20-year history, joining Silver Charm in 1998 and Animal Kingdom in 2013.

“He’s kind of push button,” Sherman said of the 4-year-old California-bred colt. “He’s not a one-dimensional horse and that’s important. Just keep him in the clear and have a place to go. That’s all I ask.”

California Chrome will once again be ridden by jockey Victory Espinoza, who rode the colt to victories in the Kentucky Derby and the Preakness last year.

“By a $2,500 stud out of a maiden $8,000 claiming mare, to come by and win all these races, it gives an incentive to the little guy,” Sherman said. “This is a game where you can buy your way into a lot of things, but we are proof that a dream can happen. You don’t have to be a millionaire or a billionaire to win these kinds of races. In the end, I’d like to leave some sort of legacy with him that says ‘wow, I remember California Chrome, he was a great horse and we had a lot of fun watching him run.”

African Story, who won the World Cup last year, will try to become the first repeat winner of the race and will break from post three looking to give trainer Saeed bin Suroor his seventh win in the World Cup.

Trainer Bill Mott, who saddled Cigar to victory in the inaugural Dubai World Cup in 1996, is back to try and win his second with Lea, winner of the 2014 Donn Handicap.
“It is great to be back with a serious contender,” Mott said. “We are drawn in the middle (post five) which is perfect.”

My selections: Lea, California Chrome and African Story.
Back in the United States, two important prep races will be held for the Kentucky Derby – the $1 million Florida Derby from Gulfstream Park and the $750,000 Louisiana Derby from the Fair Grounds.

In the Florida Derby, Upstart will try to get back into the winner’s circle after being disqualified from last month’s Fountain of Youth Stakes and placed second.

My selections: Upstart, Materiality and Itsaknockout.

International Star will be the one to beat in the Louisiana Derby seeking his third straight stakes score and is a perfect 2-for-2 over the Fair Grounds surface.

My selections: International Star, Stanford and Mr. Z.

Martin Jacobson, Liv Boeree Among European Poker Award Winners

The European Poker Awards were held on Wednesday at the Portomaso Marina Hilton Hotel in St. Julians, Malta, honoring the top performances by European poker players in 2014. The ceremony drew hundreds of individuals who were part of Europe’s vibrant poker community, and were sponsored by the Global Poker Index (GPI). Schemion, Boeree Named Players […]

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WSOP 2015 Makes 888poker Official Home for Event Satellites

WSOP 2015 has entered into an exclusive branding deal with online operator 888poker. The new deal will see the Internet site’s logo given exposure during the summer series, both inside the Rio and on ESPN broadcasts of the event. Additionally, 888poker will become the only platform officially allowed to offer World Series of Poker and […]

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Harry Reid won’t run for reelection in 2016

US Senate Minority Leader Harry Reid (D-NV) has announced he will not seek re-election in 2016, leaving gambling proponents mourning the loss of a key ally.

Reid, who first won election to the Senate in 1987, made the announcement in a video released early Friday morning. The 75-year-old Reid said his decision had “nothing to do” with the fall he suffered earlier this year in which he broke several ribs, facial bones and temporarily left him without the sight of his right eye. However, the downtime had given him the opportunity to reassess his situation and his conclusion was it’s time to hang up his spurs.

American Gaming Association CEO Geoff Freeman issued a statement calling Reid a “tireless supporter of gaming who solidified Nevada and the industry’s significance across the country.” Freeman said Reid had been “a visionary for what could be possible” and his “leadership and dedication will be missed.”

It remains to be seen what impact Reid’s decision will have on the likelihood of passage of the Restoration of America’s Wire Act (RAWA), the Sheldon Adelson-backed federal legislation that would ban most forms of online gambling except horseracing, fantasy sports and the types of closed-loop on-premise mobile gambling available in some US brick-and-mortar casinos.

What your business can learn from the Kforce CEO divorce and others

Among the latest examples: Elaine Wynn , the co-founder and third-largest shareholder at Wynn Resorts, is fighting to retain her seat on the board of directors of the hotel-casino. Other board members voted against nominating her for another term, after she filed suit to lift restrictions on the sale of the stock she awarded in their 2010 divorce, the New York Times reports .