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Archive for May, 2010

Kansas Lottery Officials Make Moves for Expansions

Monday, May 3rd, 2010

The state of Kansas is in the midst of debates over gambling expansion. Gambling within the state is available, without question. It has already brought in millions of dollars to the state and that is a welcomed difference in revenue than it was during the recession. Of course, the recession put a damper on all forms of revenue but gambling in particular took a hard hit. With little discretionary money and a heightened unemployment rate, it was hard for people to maintain their gambling activities. Most gambling activities came to a screeching halt and have yet to return to the levels they were prior to the recession.

That doesn’t mean that there aren’t changes in the world of gambling for Kansas. Operators of a casino to be located in Wyandotte County have already submitted their two initial payments to county officials. It’s a welcomed added revenue source for Wyandotte County officials who have been suffering a while now due to the recession. Counties all over the US are hurting for cash and looking to a new year of major cutbacks and postponement of plans for development. In particular, education, building and police expansion efforts are the most targeted aspects of budgets over the US territory. Each county is looking to come up with money-generating efforts and bringing in casinos is one of the most popular and viable options in today’s market.

Kansas has particularly been plagued over the years with developers who made plans to bring in casinos and then pulled out. Penn Hollywood Kansas and Speedway Development company are both corporations that have made inroads to build casinos in the area. They were turned down for development a few times in the past and it isn’t until recently that they officially partnered to come up with a viable project. Kansas Lottery regulators are excited about the move and are hoping that it will bring in revenue to the state. They also are focused on expanding the market and bringing it to a new level of profitability. It will take a few months, but hopefully regulators will see how lucrative gambling is and how it is able to turn the economy around.

Gambling Stock Values on the Rise for the First Time

Monday, May 3rd, 2010

Part of the problem the recession left the market with is diminishing stock values. Casino companies that are traded on the stock market lost a lot of value over the past 18-months and that means that they have yet to recover. Namely MGM Mirage took a huge hit. The company is one of the leaders in the world of Las Vegas casinos and has proven its strength as a gambling entity over the past few decades. Once the recession began, companies throughout the Las Vegas area, one by one, took a big hit financially due to people stopping their gambling routines. With home values declining, unemployment rates soaring and the credit burst, there was wide range of problems created in the market. One was that gambling companies no longer had the customer base to sustain their revenues as high as they once were.

There is some good news though. Las Vegas Sands is showing a high in stock price—in fact it is the highest it has been since 2008. It still isn’t up to what it was pre-recession, but it is still a welcomed change for the city that has taken a huge hit over the past few months. In addition, the MGM Mirage is moving to sign a deal that would be a public offering in the country of Asia. That means that the company should find a completely different investment market that will help it to recover from the recession and hopefully build value in the future. It also puts a tab on the global market and helps the company to set its own footing in the fast-growing Asian gambling market. One of the biggest growths within the market is in the Asian culture. Macau is a huge gambling hotspot that is showing no signs of slowing down in terms of gambling growth. It also has the advantage of being in an exotic locale and that only adds to its appeal. Although it is huge, hopefully gambling companies located within the US boarder will be able to regroup and revitalize themselves. It may take some time, but with the most recent stock numbers, gambling companies may be well on their way to recovery.

Pennsylvania Opens Door for Gambling Expansion

Monday, May 3rd, 2010

One thing that has continued to happen within the US is gambling expansion. Some states have tampered with gambling law to varying degrees of success. They are not willing to eliminate it, even if it doesn’t work, due to the huge potential revenue dollars available. Rather than eliminating it, they are rewriting laws and bills to acclimate better to the market. Few legislators are willing to overlook the financial potential of gambling. Much like the US as a whole, state legislators are trying to come up with a viable law that meets the needs of every party involved. They need a law that legalizes gambling, but also regulates it so that people are still protected. The main argument of anti-gambling lobbyists is that the laws, as they are written now, are not sufficient to protect the public. They believe that inevitably problems will arise as a result of legalizing gambling and the states are not ready to handle the aftermath, that includes an increase in crime, addictions and money laundering.
The state of Pennsylvania is one state that is looking forward in the field of gambling. It has already overcome one big hurdle when in January of this year, slots gambling and table games were legalized in the state. This was great news for casino operators who know how much slots gambling can bring to their revenues in coming months. For example, Rivers Casino is one of the most recently built casinos in the state, but they couldn’t have picked a better time to open their doors. It was just a few months after they did that the state decided to change its laws. The casino even talked to the gaming board, wanting to expand the current laws.

Part of the Rivers Casino’s pitch is that expanded gambling will bring more jobs to the casino. The state has been particularly hard-hit by unemployment and any news regarding building new jobs may be welcomed by legislators. There still has to be a public hearing to settle the details, but most likely the gambling expansion initiative will push ahead. As of now, Pennsylvania is looking to take over the gambling market from Atlantic City and New Jersey.

Iowa’s Gubernatorial Candidate Decries Gambling

Monday, May 3rd, 2010

When looking at the state of gambling throughout the US, some states stand out as forerunners in the market. Gambling is a difficult market to move into immediately because there are no former blueprints to follow. Many states are writing the rules as they go in terms of legalization and regulation of online gambling. Some rules have not yet worked, and have already had to be amended and others have worked and are being strengthened in coming years of implementation. Iowa is one state where casino gambling has taken off and it is a state that is still in the midst of debates over the issue despite its success in the industry.

Bob Vander Plaats, gubernatorial candidate, is coming into his campaign with an anti-gambling stance. He has been very adamant about his disdain for the industry. His main criticism is that the state is well on its way to becoming too dependent on gambling for its revenue-generating activities. His fear is that like Las Vegas, Iowa could potentially make a big mistake by relying on gambling. Las Vegas has built itself up as a gambling Mecca over the years, but once the recession happened, the city was hit hard. It relied mostly on gambling and tourism as its almost sole revenues. Now, it is difficult for the state to regroup and it has yet to recover. During the height of the recession, the city’s legislators noted that 60% of homes in the city were either in foreclosure or owners were already defaulting. Vander Plaats main argument is that if Iowa relies on gambling, it will fall into the same problems as Las Vegas did if any type of financial turmoil happens in the market.

It will be a difficult position for Vander Plaats to stand on because much of the benefit of gambling cannot be denied. Expansion of gambling within the state of Ohio could mean that millions of dollars may be brought in. The state, like others in the US, cannot reasonably deny the huge potential dollars that could be available. Thus far the state has benefited from gambling and it will be hard to change public perception of the value of gambling.

Illinois Race Tracks Still Pining for Slots

Monday, May 3rd, 2010

One industry that quickly suffered during the recession was the horse racing market. Over the years, it took a particularly hard hit. When the unemployment rate soared, people stopped spending and that meant that they cut out any discretionary spending. Most people were focused on paying their bills and just getting by, rather than using funds to pay for gambling at horse racing tracks. This put track owners in difficult positions. Their own revenues declined sharply and they had problems keeping customers from coming in.

Some race tracks looked to bringing in slots gambling to try to spur more customers to return to the market. Throughout history, slots have been a very effective money-generating hobby for businesses, including pubs and bars in the country. That means that if a race track can implement a slots parlor onto their floor, they may have a shot to remain relevant in the market. Race track owners have long been petitioning legislators to allow the move of bringing slots in. They are hoping that the change would bring in millions of much-needed dollars in funding to the market. It also can potentially save many race tracks from closing down altogether. Lawmakers are divided though.

Like most issues with gambling, legislators in Illinois are divided. On one side, legislators believe that slots would help to spur in more business and believe that with the right taxation, all parties could benefit from the move. On the other hand, some legislators are not as supportive of the move. Their reasoning is that bringing slots into race tracks would considerably infringe on their own revenue-generating capability by using slots. The pie would have to be split between the race tracks, the state, the city and the federal government. On the other hand, if the state just put slots in themselves, then race tracks would not have to be cut into the deal.

In the end, it is money that is spurring the debates over allowing Illinois race tracks to bring in slots. There are millions of potential dollars to be had in the market and everyone involved knows well how lucrative the move could be. It will take time for legislators to make their minds, but race tracks in the state are hoping it doesn’t take too long and they truly are able to benefit from the changes.

Ohio Mulling Over New Casino Location

Monday, May 3rd, 2010

Ohio has long been in debate over casino gambling. Over the past few years, the state has taken the normal two positions on the issue. On one side legislators are concerned that legalizing gambling will bring in more problems like crime, corruption, and addictions to the state. Then the other side believes that legalizing gambling will bring the money needed to overcome the difficult financial state of the economy. Most of the gambling issue within Ohio has been put into the hands of the voting public. It has been a long-standing issue and over the past year has taken on many different faces. It will take time to sort through the issue for the state, but it is difficult to say where it is going in the future.
It was November of 2009 when voters approved a casino to be built in the state of Ohio. Prior to that vote, there were many surveys and polls taken to gather information on the voting public’s vision of gambling and whether or not they were predominantly pro or con for the issue. Though there was some opposition at first, in the end when the vote took place voters spoke and said that they were in favor of a casino being brought to their borders.
Much of the built-up support for gambling came from the hefty efforts of pro-gambling groups and organizations that campaigned heavily for the issue. The groups were tasked with bringing a new education to the voting public on what gambling in the area would mean, what changes would be made and what they needed to be concerned with. Obviously these campaigns were effective and swayed the voters. Prior to the heavy campaigning thousands of voters were either undecided or against bringing in gambling and legalizing it for the state.
Now that the plan is gaining public support, Columbus is being vetoes as a location for a casino. Business owners in the area were not supportive of the changes and opted to decry the addition of a casino in the area. The only issue left to rethink is where the casino will be erected. It will take time to find a new location, but now that the majority of the citizens in the state are on board, it should not be a difficult task.

Kansas Still Debating Over Casino Project Approval

Monday, May 3rd, 2010

States throughout the US are in the midst of serious debate when it comes to gambling. Many legislators believe that legalizing gambling is one of the few ways to generate the millions of dollars needed to overcome budget shortfalls and deficits. The recession was particularly hard on cities with few industries, like Las Vegas and Detroit. These cities built their industries mainly on gambling and manufacturing, respectively. When the recession happened, they both had difficult time with recovery. Detroit is a city that experts conclude will never return to its former ways of operations due to the permanent loss of jobs in the manufacturing market.

Kansas is another state that is in the debate process. Recently state legislators approved Sumner County Casino initiative, then denied it and then changed their minds again. Their indecision is proving to be a harrowing one for operators who want to get the project completed. The state is hoping that this time, the plan will go on without a hitch. Then they need to find the appropriate developer to build the facility. Coming up, the state Lottery commission is going to reopen bidding on the project. Experts are concerned though that with the rough start of the project, developers may be less likely to take it on for fear of having to stop mid-building due to legal changes in the future.

So far developers are being given until July 22nd to submit their decision. It will be interesting to see how the developers view the project now that the state lottery has been so indecisive about the project. Chisholm Creek originally pulled out of the plans for the casino due to the problems with decision-making. The state is hoping that once the legalities are sorted out, a casino will come to the state and it will bring in millions of dollars in tax-revenue dollars. The state is in need of additional money to overcome its budget shortfall. It is imperative some proactive measures are taken to bring in millions of dollars so further cutbacks don’t have to be made to shore up budgets for the 2011-2012 fiscal year.

Check Out Casino Tropez for Outstanding Gaming

Monday, May 3rd, 2010

Casino Tropez is one of the most popular online casinos but that doesn’t mean they are taking it easy in terms of promotions and specials. In fact, the company is working to build new events every day. If you love online gambling then no doubt you know the value of a good bonus promotion. Casino Tropez knows full well how to build them. Of course when you go to the casino, you can participate in gaming on the “real money” level or the immediate-play level. If you play the immediate play option, you will have a hassle-free way of using the casino’s Flash application for gaming. You can enjoy all the perks of “real” play without spending your money. Of course, you won’t be eligible for online wins other than those that are special event promotions, but if you are just looking for a great gaming session without a hefty download, this could be the perfect option for you.

Of course if you are ready for some serious gaming, the check out the “real money” option. There is a download, but it is safe. Casino Tropez is respected and well-known within the market. It should not take long to install—depending on the speed of your computer—and you should be up and running in no time. Add to the great play the fact that there is a 100% match-bonus for all new players, of up to £200. That’s great news for gamers who want the most for their buck.

On top of the great bonuses, remember that Casino Tropez has been around for a while now. That means that their customer service is premiere within the market. You will also have access to a wide range of tournaments to enjoy. This company is great at building outstanding tournaments to enjoy so it will be easy to find some that meet all your gaming needs. Finally, the Casino Tropez website also offers any game from blackjack, roulette, baccarat and poker to its visitors. If you want a website that offers a mobile option, this also can work for you. The casino has a top-notch mobile option that allows you to the opportunity to play while on the road. Overall Casino Tropez is a great casino to test out for your gaming needs. Give it a try and take advantage of the benefits and bonuses it has to offer.

Las Vegas Still in the Midst of Financial Recovery

Saturday, May 1st, 2010

The market of online gaming has suffered a big hit due to the recession. The unemployment rate and foreclosure rates both rose quickly. It put consumers in difficult financial situations and gambling was quickly pushed out of their budgets. That was horrible news for casinos that depend on consumers having and spending their discretionary funds. When those funds were eliminated from most budgets, casinos quickly lost huge revenue dollars. In particular, markets where gambling was a primary source of income felt the cash crunch. Gambling revenue brought in $10.5 billion, or 47.8 percent of total revenue brought into the state. There are two-hundred casinos in the state and they contributed a reported $778.7 million in gaming taxes and fees combined. The totals added together make up about 7% of the gaming totals.

Las Vegas is a city that did not fare well during the recession due to its overwhelming dependence on gambling as a money-generating activity. The entire state of Nevada was hit hard by the recession and is having a different time rebounding. The job situation in America is slowly turning around but only nascent signs of reinvigorating. In the mean time Nevada operators are hoping to bring more consumers in with specials and outstanding bonus offerings. If you are looking for a deal, now is the time to look at Las Vegas and see all the specials available. As a market, the city is coming together and looking to its own future as a gambling center of the world. Most notably, Harrah’s has gained some recent publicity due to its move to the online gambling world. In fact, Harrah’s is the first company to make tangible moves to prepare itself for the future of virtual gambling.

The online world is where the market seems to be moving and companies want to be ready with the infrastructure to handle the change. If predictions are accurate, online gambling will grow exponentially throughout the coming months. In particular since the US is moving closer and closer to regulating and legalizing online gambling as a means of bringing in tax-dollar revenues. Las Vegas and the entire state of Nevada are hoping to be on the cuttign edge of the changes and be ready to capitalize on them quickly.

Caribbean Gold Casino Offers Monthly Tournaments

Saturday, May 1st, 2010

Caribbean Gold online casino is one virtual location where the Slottery online tournaments are the number one draw. At the casino you will find one tournament a week to enjoy. Players who manage to get onto the leader board are the ones who are going to be splitting the prize pool. The best thing about the tournaments is that they have a buy-in fee of just $5. That means that everyone can participate in the fun. If you are new to gaming and still have to set a bankroll, it is best to put together smaller limit tables for possible visits. The risk should be minimized until you feel comfortable enough with the game you are participating into not lose a considerable investment.

The online slot that is going to be featured is Safari. Of course this is an already popular slot game that has proven its payout potential over the past few months. The game has an African-theme and you’ll find all the appropriate symbols along with the game. The reels are filled with animals and objects you would find in the jungle. If you manage to get the jackpot you can walk away with a payout of 10,000 credits. All you have to do is line up the five wild symbols on the paylines. You can also get the free spins that come along with the game. There are fifteen to be had and if you do manage to spin them, then you get a 2X multiplier for your wins. The fun thing about this game is that there are so many different screens within it, you won’t be bored easily with the game. Add to that the fun of a tournament, and you can’t go wrong with this game or the Caribbean Gold online casino.

The tournament closed the end of April and the payout was a total prize pool of $100,000. The number one person on the leader board walked away with a $50,000 prize. If you are in the market for a great tournament, visit the casino. Remember that they come up with a new series every month—that means you will have four chances to get in on the tournament fun.