Online Casinos Directory

In the world of gambling one of the most lucrative contracts to get is an exclusive one. These happen when one company agrees to provide a service and the other company agrees to use them solely for that service. It’s a great way for a company to build their business and come up with a wider revenue stream, while shutting out the competition. It’s happened in a wide range of businesses throughout the history of development. Companies look for that cost-efficient way of getting their name out there without having to worry about other companies in their same market. Now it is starting to happen in the world of gambling. VeriFone Systems Inc just announced that it is going to be the exclusive payment solutions provider for the Marina Bay Sands Hotel in Singapore. This is huge news, especially due to how quickly the Asian market is booming right now. The casino hotel has over 2,500 rooms and suits, three towers and it is the largest hotel in the country. It also is becoming a hub for business within the country.

The Asian market is growing exponentially right now and it is becoming a gambling center of the world- quickly replacing places like Las Vegas and Atlantic City. The Asian market recently showed a 56% growth rate which is unheard of in any market much less gambling. VeriFone is going to be integrating to the Marina Bay Sands Hotel systems in coming weeks by using an EMV-approved solution system, along with a multimedia device, check-in and check-out system called MX870, and other systems that allow for government-only clearance. Part of the company’s offerings are their Vx series of pinpads that allow for hands-free and signature capture devices. They allow people to sign in and pay via their MasterCard, Visa, American Express, JCB, NETS Debit, NETS FlashPay and Diner’s Club cards. This is a lucrative deal for VeriFone and should allow them to move into the Asian market even more as the coming months go by and as their success as a provider spreads throughout the world gambling market. With technology on their side, it is only a matter of time for them to move up in the world of gambling and get more contracts with big name casinos.

Four of Nevada’s top casino companies — Las Vegas Sands Corp., Wynn Resorts Ltd., MGM Mirage and Harrah’s Entertainment — could be hurt by a move made Tuesday by Macau’s top leader. Land that was once set aside for casino development is being considered for other purposes due to the struggling casino industry. Several analysts and gaming company insiders wrote off the comments as political posturing. But others thought Chui, who replaced Edmund Ho as Macau’s top government official in December, was looking to slow casino development, telling Las Vegas-based gaming operators they need to submit plans for the sites, predominately on Macau’s Cotai Strip region, or lose the locations.

“The whole process will be made very transparent, but the land has to be taken back and some of it will be used for social housing,” Chui said. Each of the Las Vegas companies may feel the impact differently. “Other than those casino developments already approved, any further applications for casinos will be tightly controlled,” Pinge said in a research note. “We believe that the underlying message is no further casinos will be built on Macau in the foreseeable future.”

Gaming analyst David Bain said casino company shareholders are concerned “the new chief executive may be utilizing some specific language about needing to diversify or cap the growth in Macau.” Macau casinos, while up for the year, do not show the same size gains seen in past years. In 2009, Macau casinos collected $15.5 billion in gaming revenues, a 14 percent increase over 2008. However, 2008 had a 31 percent increase in gaming revenues following revenue growth of 47 percent in 2007 and 23 percent in 2006. Only one of the original four casinos is still scheduled to open in Macau this year, Wynn’s $650 million Encore project. Chui said Macau would allow new casinos as long as construction plans had been approved. “Apart from those we have agreed in principle in the past, in construction and those already approved, we will regulate (the building of new casinos) in the future,” Chui said . “We can’t think of a better place to build it, all things considered, namely the work force and government policy,” Wynn said. “We are constrained by the political process itself of getting the entitlements and the details done through planning and public works in Macau. We’re full tilt at that and our own planning process.”

The recession has been difficult on casinos nationwide. Most casinos have posted losses in the past twelve months and have done a lot to turn things around. Finally, Las Vegas Sands may be seeing some positive results. The casino said on Wednesday that the company narrowed its Q4 net loss. Though that didn’t bring in huge revenues, it was still great news for the economy due to the huge losses it’s suffered thus far since the recession took hold. The casino attributes the minor gain to the performance of its Macau-locasted division.

Back in 2009, losses were almost 10 cents per share less than those of 2008. This adds up to about twenty million dollars less in losses in 2009 that in 2008.  And the casino is expected to gain approximately two cents a share in the first quarter of 2010. Net revenue rose 17.4 percent to $1.28 billion from $1.09 billion. In Macau during the quarter, net revenue jumped 15.3 percent to $284.9 million at the Sands Macau, 20.9 percent to $570 million at The Venetian Macau, and 131.8 percent to $97.8 million at the smaller Four Seasons Macau. The Venetian, on the other hand, was not so lucky as losses topped eighty million dollars, net revenues were $263.7 million, a 19.4 percent decline from $327.1 million in the year-earlier fourth quarter. Las Vegas Sands’ Chairman and CEO Sheldon Adelson said, “While our current quarter’s results in Las Vegas reflect lower room and food and beverage revenues, prinLacipally because of less group business in Las Vegas, our gaming volumes have stabilized.”

The casino worked hard to counteract the recession’s effect by cutting back and slashing its budgets drastically.  They resulted in an increased revenue of $306.2 million, a 25.5 percent increase from $244 million a year ago. Adelson added, “We believe 2010 will reflect a recovery in the group business in Las Vegas, as recent booking trends reflect increases compared to 2009.” He also said that the Sands casino is finally choosing proper cost cutting and revenue boosting methods to turn around the recent history of giant losses.   Most of the trouble began when the previous attempts to dig out the sinking casino failed and the project was halted in November 2008 when the company ran into financial issues.

The Las Vegas Sands is a casino that is having a hard time. Recently Moody’s Investors Service announced that the casino organization’s ratings were not looking good. Moody’s Investors Service confirmed Las Vegas Sands “B3″ junk corporate family rating, probability of default rating, and long-term debt rating. The agency also raised the company’s grade liquidity rating to “SGL-2″ from “SGL-3.”

The ratings took into consideraton many positive movements by the company. They have a good liquidity margin, debt position and ability to remain compliant with debt contracts. Other events include converting $600 million of exchangeable bonds into equity, the repayment of $500 million in debt for its Macau subsidiary and amendments to the credit facility for its unit in the Chinese gambling gathering. Keith Foley, Moody analyst, said, “In Macau, more friendly gaming policies from the local government, limited supply of new gaming tables in the near term, and expectation of no further stringent enforcement by the Chinese government over tourist visitations to the enclave support stable growth for the sector’s revenues.”  That’s good news for the organization. They are hoping for a turnaround now that the economy is set to begin leveling itself off. For a long time the recession made growth in the land-based casino market next to impossible. This is being taken as confirmed truth that the company will survive and make a profit in years to come.

Despite the good news, there are still some financial challenges. Part of it is the Las Vegas economy that is overall distressed. The Las Vegas community as a whole is having difficulty maintaining itself and a turn-around is no where in sight. In fact, the housing market is one of the worst in the country. The number of foreclosures in the city and neighboring areas is astounding. Defaulting loans are still a main issue in the state and they are coming one by one into the market. Each one is bringing the Las Vegas market down even further.

The Las Vegas Sands is a casino that is trying to make a comeback. Despite bad news, there is still some light at the end of the gambling tunnel. The City Center in Las Vegas is a new facility being built and everyone is hoping it will have the power to help turn Las Vegas around.