Monthly Archives: August 2015

The Junkets Have Moved to the Outback, Low Taxes, Just Right

Where have all the Macau VIP’s gone? How much debt is the West really in? Are there any governments in the world anymore that live within their means?

These are questions that have been on my mind for a while. The answer to all three is a desert island continent on the other side of the world (from most of us), where summer is winter and winter is summer and the water spins the wrong way down the toilet. A former prison colony that very well may be the last bastion of pseudo-sanity in the Western world. The answer is Australia.

Not everything there is raindrops on roses and whiskers on kittens. Australia is more like the most stable patient in the global psych ward, one that has its bouts of insanity but it’s still possible to have a normal conversation with it, if you discount the occasional random bout of screaming out of context like a Tourette syndrome patient. Compared to everyone else that is drooling all over themselves catatonic, you definitely want to hang out with Australia and skip the forbidden upper floors where all the lobotomies and electroshock therapies take place.

And is it any coincidence that Australia, of all nations, has the highest gambling rate in the world at over 80%? Probably not, because on an individual level, someone who can enjoy gambling responsibly, or any other so-called vice like junk food or alcohol or marijuana or whatever it is without becoming addicted to it, tends to be a more balanced person than the ascetic. So, too, with a nation.

Sands China Lowered to Sell at Zacks

According to Zacks, “Sands China Ltd. operates as a developer, owner and operator of integrated resorts and casinos in Macau and is a subsidiary of Las Vegas Sands Corp. The Company’s assets include The Venetian Macao, The Sands Macao and The Plaza Macau. It also provides human resources administration, travel and tourism agency, mall management, ferry transportation and leasing services, procurement, marketing and administrative services.

Michigan agency plans cuts after tribe halts casino payments

Michigan’s economic development agency said Monday it plans staff cuts in part because a tribal casino stopped paying a portion of its gambling profits after the state began selling lottery tickets and offering games online. The Match-e-be-nash-she-wish Band of Pottawatomi Indians, which in 2011 opened the Gun Lake Casino south of Grand Rapids, did not make a $7 million payment in June.

Britain’s bookies back in business with the return of Barclays Premier League

Betting volumes jump 16 per cent following Saturday/Sunday split for opening game

London, 17th August 2015 – Britain’s bookies have kicked off this year’s Barclays Premier League with a bang. Following a quiet two months , the opening weekend of the new season provided a timely reminder of how much love the nation and punters have for the ‘best football league in the world’.

Exclusive data from global payments leader, Worldpay, reveals that splitting the opening weekend’s games over Saturday and Sunday, rather than holding them all on Saturday as was done traditionally, contributed to a significant jump in betting volumes and transactions. Year-on-Year (YoY) transaction volume for the weekend increased by 16 per cent, while the average value of individual transactions was 15 per cent higher.

The data also shows there was a huge spike in both the volume and value of transactions processed by Britain’s online bookies during this year’s Barclays Premier League opening weekend. Compared to an average Friday to Sunday in the offseason, the volume of transactions jumped 32 per cent*.

Echo to boost Jupiters Gold Coast VIP business with $345m facelift

Australian casino operator Echo Entertainment is gussying up its Jupiters Gold Coast property in order to attract more Asian VIP gamblers.

On Monday, Echo chairman John O’Neill joined Queensland Premier Annastacia Palaszczuk in the ceremonial groundbreaking of the property’s new $345m, six-star, 17-storey, 80s-suite hotel tower. The VIP-focused flophouse will be ready by the time the Gold Coast hosts the Commonwealth Games in April 2018.

The upper levels of the new tower will feature plenty of attractions for the upper crust, including 400-square-meter ‘super suites’ that put the V in VIP, with mega-balconies, private karaoke parlors, in-room theaters and an infinity pool.

Echo is on a bit of a roll, having reported profits up by more than half in its more recent fiscal year thanks to a serious influx of Asian VIPs to its two Queensland properties and its flagship The Star casino in Sydney. The Star is undergoing its own $500m renovation and Treasury Brisbane will be replaced in 2022 by the new $2b Queens Wharf mega-resort, all of which left Jupiters Gold Coast as Echo’s ugly stepchild.

Record Breaking GUKPT Goliath: Miikka Toikka Dominates

The 2015 Grosvenor United Kingdom Poker Tour broke the live tournament attendance record for an event held outside Las Vegas. Finnish player Miikka Toikka earning the top prize. 

The Grosvenor United Kingdom Poker Tour (GUKPT) understands the utopian vision of the grassroots UK based poker player. Offer up a working class buy-in, stack the odds heavily against everyone, but create a first prize capable of carving credit cards to shards of nothingness.

The GUKPT Goliath is a monster. It gets bigger each year. This year was no exception. It was the largest live tournament ever held outside of the World Series of Poker (WSOP) in the history of the sport. There were 2,764 unique players and 1,446 re-entries morphing into a field of 4,120 entrants.

The tournament carried a £250,000 guarantee. It hit £421,000. 470 players were paid a minimum of £250 each, and the winner walked away with £70,800.

Michigan tribe objects to online lottery, withholds state’s share of casino revenue

A native group in Michigan is refusing to share its casino revenue with the state because the Michigan Lottery decided to take its action online.

The Gun Lake Tribe, more formally known as the Match-E-Be-Nash-She-Wish Band of Pottawatomi Indians, was due to make a $7m semi-annual revenue sharing payment to the state on June 1. But the tribe, which operates the Station Casinos-managed Gun Lake Casino in Allegan County, withheld the payment based on its belief that the Lottery’s online site violates the gaming compact the tribe negotiated with the state in 2007.

The Michigan Lottery launched its online site in November 2014, offering not only traditional draw ticket sales but also online scratch tickets, which critics have likened to online slot machines. The Lottery has estimated the online sales will total $480m over the site’s first eight years of operation.

The tribe’s withheld payment became public knowledge after the Michigan Economic Development Corp issued a statement warning that it was preparing to lay off an unidentified number of its 300 staff members as a result of its funding shortfall.

Alan Curl Wins the MSPT Main Event in Grand Falls

Alan Curl wins the Mid-States Poker Tour Main Event in Grand Falls after beating John Maras in heads-up action to capture the first prize of $64,655.

Alan Curl is the latest name to be bestowed the honor of winning a Mid-States Poker Tour (MSPT) Main Event after winning the $1,110 buy-in event at the Grand Falls Casino Resort in Larchwood, Iowa.

[Image Credit: PokerNews]

The Belle Fourche resident claimed a career highest haul of $64,655 after outlasting the 238 entrants. It was Curl’s third five-figure score in a career stretching back to 2007. The two earlier tours comprising of a runner-up spot in a 2016 Venetian Deepstack event for $15,639, and 253rd place finish in the 2012 WSOP Main Event for $38,453.

Daniel Cates Loses $5 Million Playing Cash in Manila

Daniel Cates took to Twitter over the weekend to express his mild annoyance at dropping $5 million at the high-stakes cash games taking place in Manila, Philippines. Said Jungleman12: “Sooo manila didn’t go well, only lost about 38m hkd (5m usd)… Gonna play some 5/10 online and take another shot.” That’s the spirit Dan, take […]

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PAGCOR still bullish on PH casinos despite poor performances

Philippine casinos are on a losing streak due to increasing costs resulting from business expansion but the Philippine Amusement Gaming Corp (PAGCOR) remained bullish as gaming revenues in the country are still going up.

PAGCOR Chairman Cristino Naguiat Jr. strongly believes that there is a revenue growth in Philippine gaming industry despite the downturn of gambling companies. He said that this has nothing to do with the gaming behavior of players; instead it has more to do with the bad results to costs related to casino business expansion incurred by companies.

Naguiat said last month that there is a “good chance” that casino gross gaming revenue in the Philippines could reach $3 billion in 2015, up by 20% from the previous year.

The statement of Naguiat appeared to be true as Bloomberry Resorts Corp that runs Solaire Resort and Casino in Manila’s Entertainment City incurred a net loss of PHP1.3 billion in the first six months due to higher expenses but posted gross gaming revenue (GGR) of PHP15.63 billion in H1, up 10.7% year-on-year.

Remembering Royal visit to reopen K&A's canal

On the morning of August 8, 1990, at the start of a bright sunny day, farmer’s son Russell Fletcher walked out of his home near Rowde, Devizes, up the hill past the 29 locks of the Caen Hill Flight, with his sister Shelley and his parents, to Lock 43. There, crammed up to 10-people deep on the towpath overlooking the canal, the 14-year-old witnessed the Queen travel by canal boat to open the Lock, and bring to an end 30 years of arduous, often thankless, repair work by thousands of dedicated volunteers. A subsequent A 25m Heritage Lottery grant, one of the biggest in its history, helped complete the waterway, which now attracts millions of visitors every year.