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Macau Casino Revenues Down for Third Straight Month

Macau Casino Revenues Down for Third Straight Month

Macau casinos’ gaming revenues were down for the third consecutive thirty days in August. (Image: TripAdvisor.com)

Macau casino revenues may well not be as dazzling as in years past, but the Chinese enclave is in no risk of losing its place as the globe’s gambling hub that is largest. In terms of pure revenues, Las Vegas as well as other metropolitan areas simply can’t compete with the tremendous amounts of money that are thrown around at Macau’s baccarat tables every day. But in terms of what seemed like the endless development for the area, it appears that the party could be over.

For the 3rd straight month, Macau’s gaming revenues dropped on a year-over-year basis. For August, the drop was 6.1 percent when put next to 2013, a tumble blamed on a continued campaign against corruption that has hurt the movement of cash from mainland China.

Raw Figures Still Good, But Growth Has Stopped

That drop will not be making the gambling enterprises in Macau cry poor anytime soon, however. They still introduced 28.9 billion patacas ($3.6 billion) the thirty days. But analysts had predicted only a 2 percent decrease in gambling revenues, making the size of the decrease something of a surprise at a lot more than 3 times that number.

The casino market in Macau has usually relied heavily on VIP gamblers whom might spend hundreds of thousands or even an incredible number of bucks in a solitary visit. That market is feeling the strain o Continue reading

5 Million Japanese Gambling Addicts, Research Claims

5 Million Japanese Gambling Addicts, Research Claims

A favorite Japanese Pachinko parlor: Pachinko is a pinball / slot hybrid gambling game unique to Japan. (Image: tokyo-foreigners.com)

We may not think of Japanese gambling addicts whenever we think for the mostly formal, extremely courteous island nation, but that doesn’t mean there aren’t any. Has Japan got a gambling problem?

As the country prepares to open up itself up to legalized and regulated casino gambling, a brand new study may provide lawmakers pause for thought. Some 5.36 million individuals in Japan, or 4.8 percent of the adult populace, may be problem or pathological gamblers, claims a study commissioned by the Japanese Ministry of Health, Labor and Welfare, and that’s a lot more than any other country that is developed.

The Kurihama healthcare and Addiction Center quizzed 7,000 arbitrarily opted for adults about their gambling practices with regard to popular Japanese betting pastimes, such as horse race, online casinos, Pachinko, slots and boat racing. They were expected concerns such as for example if they had ever lent cash for gambling, or whether gambling had ever caused disruptions inside their family life.

Of the 7,000 participants, 4,153 gave answers that are valid which researchers were in a position to extrapolate that 8.7 percent of males and 1.8 per cent of women in Japan could be described as being addicted to gambling.

The amount of gambling addiction in its population than most developed econ Continue reading

Macau Casino Workers Want Better Pay. Macau workers are demanding better pay

Macau Casino Workers Want Better Pay. Macau workers are demanding better pay from the gambling enclave’s casino operators.

Macau gambling enterprises are consuming money hand over fist. Even though the rate of development is slowly, revenues continue to rise in the Chinese gambling enclave, which ingests about seven times as much in casino winnings as Las Vegas each year. This suggests that there should be enough money to go around for everybody on the market, but casino workers say that the wealth isn’t finding its means into their pouches.

Workers at Galaxy Macau planned a protest week that is last the resort in reaction to a neighborhood trade union’s allegations that salaries at the resort were ‘disrespectful’ to some employees. That follows protests a week early in the day at the venetian, which is owned by the las vegas sands.

‘For both Galaxy and Sands we aren’t governing away a strike,’ said Ieong Man Teng, president of a local labor group known as the Forefront of Macao Gaming. Local media reports have actually suggested that August 28, which is the Venetian’s anniversary, could possibly be a strike.

Foreign Workers Barred From Numerous Jobs

In Macau, casino employees have a amount that is fair of thanks to labor regulations that do not enable foreigners to work at casino tables. Which includes created an environment where locals enjoy a jobless rate of simply 1.7 %, plus in which casinos must offer wages that are competitive purchase to retain their staff. T Continue reading

Chauffer Suspect in Murder of Taiwanese Mogul Shih Chia-chin

Chauffer Suspect in Murder of Taiwanese Mogul Shih Chia-chin

Hsieh Yuan-hsin may be the suspect that is main the kidnapping and murder of Shih Chia-chin. (Image: Taiwan police)

Taiwanese online gambling ringleader Shih Chia-chin may not be a household name in the net betting community, but he was infamous in his home country for the wealth he obtained by running his sites. Now, their kidnapping and murder have actually shocked the area nation. Shih’s body was found evening in Tainan County by police sunday. He was allegedly murdered after being kidnapped by his chauffeur and several others on August 18.

Chauffeur Abducted Shih at Airport

On that day, Shih was picked up at the Taoyuan airport near Taiwan by his chauffeur, Hsieh Yuan-hsin. Just three hours later on, the accountant at Shih’s company received a call saying that Shih had been demanding and kidnapped a ransom of TW$50 million ($1.67 million). Shih’s family attempted to negotiate with the kidnappers, eventually agreeing to wire TW$30 million ($1 million) to three separate bank accounts.

Whenever the family still didn’t hear from Shih, they contacted the police for assistance later that day. Hsieh apparently made a make an effort to withdraw the transferred ransom soon thereafter, but fled when he had been asked to provide identification at the bank.

Hsieh Flees to Thailand

Despite efforts from prosecutors whom issued a warrant to bar him from leaving the country, Hsieh managed to board a flight to Thailand just ho Continue reading

Caesars Interactive Grows, But Caesars Overall Still Stalled

Caesars Interactive Grows, But Caesars Overall Still Stalled

Caesars presently holds over $24 billion in financial obligation.

Caesars Interactive Entertainment (CIE), as a part of Caesars Growth Partners (CGP), has been lauded being a bright spot for the Caesars brand. At any given time as soon as the business is working with tremendous debt and lawsuits with bondholders, CGP is overseeing online operations along with other areas of growth as an ingredient of a strategy to reorganize Caesars and result in the business’s funds sustainable for the long haul. It’s a bit early to express if that’s going to work, but one this is clear: CIE is holding up their element of the discount.

In the half that aussie-pokies.club is first of, CIE brought in $268.8 million, an increase of nearly 90 percent within the $142.1 million they introduced last 12 months. The increase ended up being slightly more dramatic into the quarter that is second, with net revenues up more than 95 percent to $144.6 million.

Positive Money Flow for CIE

Right now, CIE is still posting losings for the year. The company is down $16 million for 2014, though that’s still a marked improvement over the $27.1 million they lost into the half that is first of. But with 20.5 million in profits in the quarter that is second it is quite feasible that the organization could be in the black by the end of the season.

‘With the Interactive Entertainment segment generating positive income, we remain confident that our strategy to build Continue reading