Macau’s Chief Executive Fernando Chui had good news/bad news in his end-of-year address to the region (Image: MacauBusiness.com)
Want a Macau casino license? Too bad and go on it off your holiday wish list; the country’s main executive has made it clear that no new ones will be forthcoming anytime quickly.
Fernando Chui Macau’s chief executive told the 2014 Legislative Assembly in his annual presentation that nothing will be changing vis-a-vis the special administrative region’s certification for video gaming establishments; the existing setup of three concessions and three sub-concessions will continue as is, the in an identical way it has since the area first opened to international casino operators in 2003.
Read My Lips: No New Licenses
This despite the reality that do not only is gaming doing booming business in the Asian enclave, infrastructure improvements and massive capitalization are enabling millions more mainland Chinese tourists to come over and lose their money. Where visa restrictions once limited the quantity of that time period a national that is chinese come over, no restrictions on numbers of visits exist anymore; or at the least, they’ve been not any longer enforced.
Similarly, although only two American casino companies were expected to be allowed to build on Macau’s Cotai Strip 2 yrs ago, in fact, three are now within the works: Wynn Resorts, nevada Sands and MGM Resorts all have luxury projects rising there, and all are expected to open their doors about couple of years down the line, in 2016.
But while the Macau powers-that-be might be loosening up in these areas, they haven’t any intention of issuing more licenses, period. That will be why Caesars Entertainment ultimately made the decision not to throw anymore good money after bad, and put their $483 million greens property up for sale, a property they purchased back in 2007, hoping, wishing and waiting.
Regardless of the area’s booming gaming economy, Macau was eyeing the Las Vegas non-gaming model (las vegas now makes more revenue on non-gaming attractions such as nightclubs, retail shops, restaurants and sporting and theatrical activity than it does strictly on video gaming) and authorities want gaming houses to incorporate more non-gaming tourist attractions into their properties. In addition they have not been shy about telling casino owners doing so at their behest.
Whenever Macau authorities talk, gaming moguls listen; MGM’s business partner Pansy Ho set up the main One Central Mall next to the MGM Macau and the Las Vegas Sands made sure it had 10,000 yes, you read that right guest spaces to offer gamblers, sprinkled among five properties they run: Venetian Macau, Four Seasons Macau, Conrad, Holiday Inn and Sheraton. All these available rooms are located within Sands’ Cotai Central complex, and complement the company’s 1 million square feet of retail and dining, along with an additional 1 million square foot of meeting area.
And whether they have actually built it so they came, or the other method around, Chinese middle-class tourists are flocking to Cotai now for overnight gambling junkets that include, it appears, plenty of shopping, dining and entertainment, so chalk up a score for the vegas paradigm indeed.
‘They remain longer, come from farther away and require sleeping rooms,’ said Las Vegas Sands President of Global Operations Rob Goldstein. ‘So (the) rooms in Cotai ended up to be a fairly good concept.’
Besides clarifying the no-new-licenses situation, Chui who grew up in a prominent macau family and obtained a doctorate at Oklahoma State University before becoming a culture minister in his homeland had some popular concepts to throw out to your public. He said that the region’s 2012 record-breaking $38 billion intake from casino revenues followed by more record-breaking this year with $37.13 billion taken in just through to your end of October will mean a sort of holiday bonus of sorts for every and each of Macau’s residents of $1,127; which will come through the $11.89 billion brought in via gaming taxes this year, with two months left to go yet.
Chui’s role as ‘chief executive’ in Macau is similar to being a governor in the U.S.; he mediates between Macau and Beijing. Which we are confident is not very much like anywhere in Oklahoma.
Suffolk Downs Faces More winner million casino Massachusetts Gaming Commission Hurdles
The Massachusetts Gaming Commissioners and don’t they appear like a bunch that is fun-loving some tough decisions in front of them (Image: Josh Reynolds/AP)
Is it dead, or could it be alive? That’s the question everyone else in Massachusetts is asking about the Suffolk Downs casino plan, which is currently in a state of limbo reminiscent of Schrödinger’s cat. And while a meeting that is recent of Massachusetts Gaming Commission might have provided a few clues as to which way that board is leaning, it still provided no firm answers on whether or otherwise not the project is being considered as viable.
Whose Casino Is It, Anyway?
That conference, which happened previously this week in a South Boston meeting center, ended up being meant to see whether or not Suffolk Downs and partner that is new Sun could move ahead with an alternative solution plan to build a casino. Whilst the initial plan to construct in East Boston was shot down by that community, the neighboring town of Revere also designated as being a host for the project voted in favor, which includes led the race track to try to alter the project and locate it totally in Revere instead.
That has left the state’s gaming commission with two concerns to answer. First, they have to determine whether it is ok for Suffolk Downs to appear having an alternate plan after their very first plan was defeated during the ballot package. According to reports, it showed up as although the bulk associated with the commission had been okay with that move; after all, if one community approved the master plan, there is likely at minimum some interest.
However a question that is second proving thornier. The commission additionally needs to see whether or not the Revere vote can be placed on a project that is new one that has a brand new partner in Mohegan Sun, and which will require place entirely on land in Revere. This had not been the master plan voted on when residents took towards the polls on November 5th, yet it seems as though at least some payment members were willing to assume that Revere would have approved the new plan as well.
‘What they voted on is demonstrably not exactly what’s on the table now,’ said Gaming Commission chairman Steve Crosby. ‘But exactly what they didn’t know wouldn’t have changed their vote.’
Re-Vote Could Be Necessary
That statement doesn’t sit well with everyone, with at minimum one commentator saying that Crosby would require to have clairvoyance to understand exactly what the total outcome is on a vote that never happened. Gaming Commissioner James McHugh suggested that a vote that is second Revere might be necessary to be able to determine the will regarding the voters.
But that seemed to be a minority opinion in the five-member panel, which left some observers with all the impression that they might come down regarding the side of Suffolk Downs. One last decision comes at the gaming payment’s meeting in the coming week.
Addititionally there is the issue of whether Boston would still be described as a host community if the payment were to approve the plan that is revere-only. At least one prominent voice says that they must be.
‘I’m at a little little bit of a loss to see how Boston would still never be a host community, given the undeniable fact that the casino proposition is just sliding some buildings over a few hundred feet,’ said lawyer Brian Leary, who chaired the committee that negotiated the original East Boston host community contract with Suffolk Downs. ‘If Boston’s not a host community to them, i want to see why they think that.’
Then Suffolk Downs would have to negotiate with the city again over revenue-sharing and other issues before they could move forward with applying for the area’s casino license if Boston were granted host community status (as opposed to ‘surrounding’ community status. It’s worth noting that Revere was considered a host community for the East Boston casino plan, despite the fact that no buildings with no main parking areas would have now been located in Revere.
New Jersey Wants to Lure Offshore Online Gambling Operators
Hoping to entice more offshore gambling operators to set up shop in Atlantic City, New Jersey presents new legislation compared to that end
What locales spring to mind when you see on line gambling operators? Malta, Gibraltar, and the Isle of Man: all of these are jurisdictions understood for hosting countless Internet gambling businesses that do business around the planet. Now, nj-new Jersey legislators are hoping Atlantic City can be added to that eclectic mix of worldwide online gambling hotspots.
The legislation originates from State Senator Ray Lesniak, the man that is same had been behind the push for on the web gambling in nj within the last couple of years. While Lesniak had originally mentioned their idea for luring worldwide companies to New Jersey last month during a press seminar, he only introduced the legislation late last week, which finally allowed the general public to understand the main points of his proposal.
It should be made clear that this is perhaps not legislation that will allow for the sharing of player pools for poker or other casino games, though nj has suggested which they may look into that as time goes on (especially along with other states which have regulated online poker). Instead, this bill allows companies to create shop in nj-new jersey, and then provide gambling that is online to players around the globe.
Ironically, that wouldn’t mean they could fundamentally offer their services to players in New Jersey, however. These organizations would nevertheless have to feel the licensing that is same and partner having an Atlantic City land casino to offer Internet wagering into the state.
The change that is biggest from Lesniak’s initial proposal to usually the one unveiled this past week had been a change in location. Originally, their plan was to allow companies to set their operations up anywhere into the state. But, after talking to other State Senator Jim Whelan, he made a decision to replace the statutory law and require companies to base their online gambling operations in Atlantic City.
‘Obviously from Atlantic City’s perspective, the casino organizations and the like, it is great for the city also it avoids any possible constitutional dilemmas,’ Whelan said. ‘Do it in Atlantic City. The organizations are likely to be right here anyhow.’
‘Do It in Atlantic City’: we smell a brand new marketing slogan for yes.
While it might not be instantly obvious why businesses would want to relocate to the Jersey Shore, Lesniak believes that at least some firms would wish the benefits that can come with Atlantic City’s trusted name for controlled gambling.
‘The Atlantic City casino industry is well-regulated and highly respected, which provides a benefit,’ he said. ‘ We can capitalize on our strengths and attract business to construct and invest in our state. We shouldn’t allow these opportunities to migrate overseas to other countries.’
Welcome, Now Pay Up
That types of regulation and stability comes with a price, however. Gaming revenues would be taxed by nj-new jersey at 15 percent, which can be higher compared to numerous non-American jurisdictions that currently license Internet gaming companies. But, those organizations would be capable of getting credits for any taxes paid to their home countries. Lesniak acknowledges, of course, that some trade organizations as well as others might oppose agreements between nj and foreign jurisdictions that would be essential for the online gambling plan to work.
Still, an estimate by Econsult possibilities says that the city and state could rake in the maximum amount of as $5 billion to $8 billion each 12 months were this legislation become passed. A compelling selling point for pushing this legislation through in addition, becoming an international online gambling hub could create 11,000 to 16,000 new jobs for the state.