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Will Gamblng Enter the Dutch Market?

Tuesday, October 26th, 2010

The Dutch are debating the question of online gambling and its legalization. It’s no secret that countries around the world are using online gambling to shore up their coffers. The recession was a difficult time for every country and now they are left with hefty deficits and huge shortfalls in budgeting. It isn’t an easy time, but things are on the upswing according to research. The Dutch government is now revisiting the issue of legalizing online gambling but has yet to issue a formal statement on the issue. So far countries like Italy, France and Belgium have already legalized online gambling. They all have regulations they are still toying with, but they are well on their ways to bringing gambling into their markets. Holland is now on the brink, but there may be some additional need for time to sort through rules prior to a formal announcement.

Right now Holland has monopolistic policies on internet gambling…or at least that is where they are pointing. The problem is that it won’t be allowed in the country due to open trade laws the EU already has instated. Though it is only speculation, most likely the government will start debates over the issue. A newspaper estimate published recently showed that Holland could benefit to the tune of €270 million in tax revenue dollars over the course of the next five years. Holland, like other countries, has a long list of financial problems. If the country can institute a viable gambling plan then they could answer the problem of financial shortcomings. Most likely, experts are saying, that Holland would follow the model already built by the French. It too is a monopolistic system that dictates the rules for online gambling protocols. Holland has a lot of potential tax revenue dollars to enjoy and this could be the best solution for them to overcome. So far the Dutch Justice Ministry has proposed that the country has to begin some legislation that deals with online gambling and its rules. It also has a licensing plan to work with. Only time will tell what is going to happen with the gambling in the state, but it should take formation within the next few months. The financial state of the market is harrowing and it could take something as lucrative as gambling to turn things around.

Gibraltar Offering Great Tax Benefits for Gambling Companies

Thursday, October 14th, 2010

Betfair.com has been in the midst of changes for some time now. The company recently took pains to be listed on the London Stock Exchange—no small task for any gambling company, much less an online one. It is a sign though of how big online gambling is becoming. You can expect more and more online companies to come into the mix of stock trading now that they are seeing so much success in the market. one of the company’s recent changes though is to make its new office in Dublin, Ireland. This may seem like a small move, but it could be a sign of things to come in. There is some hubbub that the UK will be shortly increasing their taxes on gambling companies. This isn’t written in stone, but it is highly likely considering how much success the gambling market has found in the world today. Most likely the UK is going to want a bigger piece of the pie now that it is sure how lucrative the market is proving to be. If that does happen, Betfair.com is ready. The company could be planning on moving offices out of the UK to take advantage of the lower taxation.

This isn’t unheard of in the world. Last year both Ladbrokes and William Hill, two other gambling companies online, moved their headquarters to Gibraltar. This has long been a gambling company’s dream come true because of the lower tax laws in Gibraltar. More and more companies are finding solace here and finding gambling much more affordable. Gibraltar offers a tax rate that is just about 10% lower than the tax rates of the UK. Just like everything else in the gambling market, finding a location to call home is a competitive decision these days. More and more companies are looking for better deals to change their tax rates. There is no universal tax rate to work off of, so countries are left to decide on their own what they want to do in terms of finding out what to set their rates at. Regardless of what changes happen in the market, Betfair.com is ready for managing in the most cost efficient way possible.

Columbus Day Was Big Money Maker for Casinos

Wednesday, October 13th, 2010

One of the interesting things about the casino market is that it changes in revenue with the calendar. For example, if you want to see huge amounts of bonuses and specials, then you need to watch out for the holidays. The holiday season is when a long list of specials and bonuses come out. Not only do they bring in a long list of bonuses, but the payouts are much bigger than normal. If you love to get something back, then these are the games you want to get in on. Also, with the New Year right after the holidays, it also is a time when gambling companies continue to build promotions that are equally as dynamic and create the biggest returns. Surprisingly there are other times of returns too—this past Columbus Day was one of those days that brought a huge revenue stream to the world of gambling.

Casinos believe that Columbus Day is one of those days when they are going to have a lot of customers. They know that they have another chance to capture a market share with some great casino games and specials. Traditionally it is a great money making weekend for casinos and they take full advantage of it by not only creating bonuses, but elevating all the payouts given to customers coming into their gaming floors. Casinos from Atlantic City to Las Vegas know that the key to bringing in gamers is to offer big specials. Now the casino market is expanding to bring those bonuses to the gaming public. The world of gambling is highly competitive and if gaming companies don’t create specials for gamers to benefit from, other companies will. They know full well that they could potentially lose a market if they aren’t up on their games and ready to keep on pushing the level of gambling to new heights in the market. Expect the future of gambling to come up with even better bonuses and more to offer. Las Vegas in particular is going to be pushing the envelope of what is happening. They want to bring the market back in and have suffered in numbers since the recession.

Kansas Lottery Coming Up Against Criticism

Wednesday, October 13th, 2010

States are looking to capitalize on their lotteries. Since their creation, lotteries have seen a lot of success in the market. Everyone wants to purchase those tickets. Normally it takes just $1 and you have a shot at winning a life changing amount of a payout. Gambling officials in Kansas are looking to change their own lottery now that the state’s 150th birthday is coming up. The lottery is going to be titled “Celebrating Our Statehood” and it starts with the normal $1 ticket sale for residents and non-residents alike. Retail outlets have already received 600,000 tickets to sell in a couple of weeks. In January there also will be additional $2 tickets ready for the market. So far the payout is scheduled to reach new heights beyond what it ever has been so far.

Though the lottery is big news for the gaming public there are still some people who believe that it is a cheap way for the state to push their ticket sales. They believe that it is reprehensible for the gaming control board to push their tickets in this way. Despite critics though, the lottery is still going to happen and is expected to bring in a lot of cash to state coffers. It isn’t that far from what normally happens in the market. gambling is something that every state is using to shore up its revenue stream. States know how lucrative gambling can be—whether that is involving a casino that is land based, a casino online or the lottery. All these tools are being used more and more readily to create revenue streams. People are showing no signs of curbing these activities either. Though during the recession many gambling companies suffered, that is showing a surefire sign of a turnaround now. Gamblers are returning to their older ways of wagering and getting excited about the many different specials that are available in the market. States are equally excited because they know that the numbers are telling of what revenues they can build for themselves. Now that the recession is over, it is time for states to come up with viable options for bringing in more and more revenue as the market continues to regulate itself back to normal.

Nevada Finally Sees Some Growth in Revenue

Wednesday, October 13th, 2010

It has been a long time coming, but Nevada may finally have some good news. Officials are watching their revenue changes closely and hoping that the numbers continue moving upwards. The month of August may just be the beginning of something good. Numbers are in and showing an increase of 11.5% since last year the same time. That translates into $945 million in revenue. This is great news because of the harrowing time the city has had with recovery. Though it used to be a gambling Mecca, it now has seen decreasing numbers and had to go through a total cutback to maintain budgets and overcome the deficit. Some companies in the state have tried to focus on expansion to other cities and other countries. They are hoping that they can bring up revenue in these other areas to help defray losses in Las Vegas.

Of course Las Vegas used to be a center for gaming, but now that the market has opened up so much, it isn’t the case anymore. In fact, the Macau area is pushing to take over all of the gambling industry and doing it relatively easily. In fact in one month the city showed a 40% growth in revenue! That is huge in any market, and even in the billion dollar industry of gambling it is a huge growth rate. Las Vegas is having a hard time to compete and maintain its own position in the market. Officials are hoping that the recent changes are enough to push for a return to the old numbers. So far City Center and Cosmopolitan Hotel’s expansion are both coming together to help the economy take on the competition. Though City Center has not performed as officials had hoped, it still isn’t something that they are giving up on easily. They are still hoping that the market is able to recover quickly and come back to revenue streams that were received pre-recession. Now that more areas are open to the gambling market, this is pushing it to a mainstream activity. No longer is gambling just a pastime for a select demographic. Now it is one of those things that everyone can take part in. Hopefully the future will be bright for Las Vegas.

Macau Proving to be a Gambling Force Like No Other

Wednesday, October 13th, 2010

It is no secret that all parts of the world are moving in on gambling. Gambling is a $3 billion business and that number is expected to more than double in the coming years. In the end gambling is the biggest market right now and most legislators are pushing for gambling to be legalized and regulated in their jurisdictions. The US is pushing hard for gambling regulations because they know of past offences. With the UIGEA of 2006 the US lost billions of gambling dollars. Residents of the US did not stop gambling as the US had hoped. Instead they moved to offshore gambling companies and channeled millions out of the country as a result. Unfortunately this is money that the US will never recover. Not that states aren’t rallying and doing their best to turn things around. They are all hoping that their new gambling initiatives prove to be as lucrative as hoped. Since the recession, gambling has become the most viable option for turning things around financially. With huge deficits and budgetary shortfalls it is hard to find options for overcoming them. Gambling seems to be the most realistic. The US has a problem though: Macau.

Macau is a gambling Mecca and that is not an exaggeration. The country is one of those countries that has taken the world by storm. In fact, recently they saw an increase in gambling revenue that was 40%…and that was for just one month. This is a startling amount of revenue and translates as $1.9 billion! Macau is quickly taking over as the gambling center of the world and places like Atlantic City and Las Vegas no longer have a shot at reclaiming the title. Both locations have suffered greatly since the recession and are still having problems rallying. Macau on the other hand is indicative of how much gambling has taken off in the Asian countries and taking full advantage of the money they are privy to now. Casinos are being built that outshine anything that Las Vegas or Atlantic City have put together. The small island is a leader in the market and showing no signs of slowing down as gambling changes. Expect Macau to take on an even bigger role in growth over the next few years.

Bad Weather Affecting Gambling Numbers

Wednesday, October 13th, 2010

One of the natural repercussions of bad weather is gambling casinos losing patrons. It is a problem that a lot of casinos are having now that there are more and more natural disasters on the rise. Namely the big news right now are casinos in the South Florida are—they were recently affected by Tropical Storm Nicole that hit the southern east peninsula hard. Casinos run along the coast because of the beautiful weather and the ocean views. It is a tropical paradise attached to the states that millions of gamblers venture to in hopes of a great time. Now the weather is proving to be too hard to contend with. Attendance has been down at all of the casinos in the area. Most local gamblers in the area are well aware of the difficult rains, winds and travel conditions and want no part in it. This cuts down on the casinos’ normal revenue stream. Add to that the travelers and tourists also have heard about the storm and are opting for other locations to wager at or to cut out gaming altogether for the next few weeks.

This is a difficult time for land based casinos. They are getting stiff competition as more and more states are opening up the door to legalizing and regulating gambling. This is allowing more companies to step into the market and make their own mark with state of the art casino gaming. One casino after another is trying to outdo the last one too. It is a hard time for gamers because they know that the options are vast and getting better. Not to mention the introduction of the online market to the world of gambling too—that is creating even more competition and now the revenue stream by gamers is getting thinner and thinner by the month. It is a hard time for land based casinos to maintain their market shares and the difficult weather that is cutting in on their patrons is not helping. The best they can hope for is better weather and creating some great promotions to bring more gamers in. Hopefully that will enable them to stay in operations and start building up their money yet again.

Positive Change for Las Vegas Market

Wednesday, October 13th, 2010

For a long time now the Las Vegas gambling market has been suffering. The recession was difficult on the gambling industry because people’s discretionary funds were severely cut. Consider that the recession brought a lot of problems for the consumer. Not only did millions lose their jobs, but they also were cut off of credit cards. Credit card companies shut down a lot of their lending policies and shored up rules on lending. They suddenly closed doors to consumers. We were in a credit-dependent society and the lending freeze all but stifled the market. Consumers were left to manage their finances without the help of credit. With job losses even bigger, they also were left without the necessary funds to pay every day bills. People had to cut back on spending and that included leaving their gambling lifestyles behind. This was a particularly hard problem for the Las Vegas market because it had no secondary industry to rely on. The city had long been a gambling city and officials considered it impervious to changes in the market. That was not the case. For a long time now Las Vegas has been looking for some turnaround and hoping that the market would regulate itself. That time may be coming now that new numbers of growth are finally in.

Recently there were positive changes in the market when Las Vegas operators posted rises in stock prices. This was a welcomed report and there was an increase of 12% in the market prices. Gambling revenue cake up 21%, which translated to a $544 million rise in revenue. Again—this is great news for gaming operators because it could be the nascent sign of growth they have been hoping for since the beginning of the recession when things declined so sharply. They know that there is huge and exciting revenue to be had with gambling and are hoping that this is the time when things are going to truly turn around. If this is the beginning of the end of the recession, we could see Las Vegas’ numbers rise and reach the former levels of revenue stream they had prior to the recession. Only time will tell whether or not this was a one time change, or if it is something here to stay.

MGM Resorts International Show Income Growth

Wednesday, October 6th, 2010

Every company has to deal with debt whether they are a small mom-and-pop or a huge corporation. There have been various ways to deal with debt over the course of a business’ lifespan. MGM Resorts International is the latest casino organization to toy with its gambling debt. The company has not been secretive about its $13 billion in long-term debt and now wants to do something about it. Company directors stated that they are going to put all revenue to paying down that debt and it is a priority for the coming year. CEO Jim Murren said that the mission of the company is to handle that debt and quickly see it down to a more manageable and acceptable level for the gambling giant.

Although the casino notes its huge debt, this is a sign of good things to come or so say gambling analyst. They are saying that the announcement is a positive one because it means that MGM Resorts International believes that the recession is over and they are soon going to start building revenue once again. For a long time now the market has been poor as a result of the recession. Even gambling that was previously thought to be impervious to the economic downfall, took a huge hit. This was due to people’s discretionary funds being at an all time low. They had little money to pay bills, much less participate in gambling like they used to. This caused a lot of strain for gambling companies who relied on discretionary funds from their customers to sustain them. With this move by MGM Resorts International it could be a sign of positive changes in the market. No longer will companies be strained, but rather they are seeing a light at the end of the tunnel in terms of revenue streams. With this commitment to pay down debt, it also means that the company knows it is going to have consistent revenue, rather than just a one time spike in revenue. Overall this is a huge benefit for the gaming public and it means that gamers may be on the verge of their own financial revivals soon. Now that the recession is over, it is a great time to start celebrating and spending once again.

Mississippi Looking for Gambling Dollars

Friday, October 1st, 2010

Gambling is a practice that most legislators are looking to for aid in turning around their economies. It’s no secret that gambling is a billion-dollar business and growing. It is difficult to manage the huge deficits left by the recession and gambling is one of the most viable options for spurring recovery. There are some hopefuls though. Carl Icahn, billionaire investor, stated that he believes the gambling market in Mississippi is ready for a turnaround. Icahn recently bought out eight different Tropicana casinos that originally filed for bankruptcy protection. His optimism is unique in the market and hopefully is a sign of what is to come.

Mississippi like other states has suffered huge losses since the recession. The unemployment rate within the state is one of the highest. Possibly natural disasters in the area plus the recession are the cause of the added stresses put upon the area. If these areas are to move to recovery, there is going to have to be some kind of proactive change in the market. Most legislators are hoping that the implementation of gambling is the way to create that proactive change. If gambling can do for states what it has done for others, it may be the savior needed. The post recessionary market is still hampered and it will take more time to turn around. Despite the financial climate, Icahn and others are hopeful. They believe that gamblers are going to be what saves the markets involved. If they can create the best games and specials, then they can bring in enough gamers to fuel their money into the gambling casinos in the area. That in turn will provide enough tax revenue money to fund and recharge the economies involved. Icahn is in the prime position now to benefit personally from the changes too. As owner of eight defunct casinos, he can easily start recharging them and creating streams of income slowly but steadily. Once the economy recovers, he will be in the perfect position to reap the benefits of those changes. His casinos are most likely going to turn around and bring in gaming numbers needed for recovery.