The king of NJ online sports betting, DraftKings Sportsbook, opened up a new permanent retail sportsbook location inside Resorts Casino in Atlantic City.
The post Resorts Casino Unveils New Permanent DraftKings Sportsbook In Atlantic City appeared first on .
The Chinese National Day holiday period and the opening of the Hong Kong-Zhuhai-Macau (HKZM) Bridge spurred October growth in the tally of inbound visitors to Macau. The city’s Statistics and Census Service claimed so in a Friday announcement. October visitor arrivals totalled over 3.15 million, up by 9.2 percent year-on-year.
That figure represented a 23.2 percent sequential increase on the September tally, which had stood at over 2.56 million, according to the official data.
Since its opening on October 24 - to the end of October – inbound visitor arrivals to Macau via the HKZM Bridge totalled 71,640, according to the census service. The statistics did not include a breakdown of visitor arrivals by nationality.
“Information from the Statistics and Census Service indicated that in view of the National Day holiday and the opening of the Hong Kong-Zhuhai-Macao Bridge,” the aggregate monthly number of visitor arrivals to Macau “surged by 23.2 percent month-to-month,” the statistics bureau said in a press release.
The document did not clarify how the bureau determined that the new bridge was providing incrementally more visitors to Macau, rather than possibly providing an alternative route for those visitors already planning to come.
In October as a whole, the number of visitors from mainland China to the coastal casino hub expanded by 12.1 percent year-on-year to approximately 2.31 million. The tally of visitors under the Individual Visit Scheme – mainland China’s exit permit system for outbound tourists travelling independently rather than in tour groups – was up 15.2 percent year-on-year in October, to approximately 1.11 million.
Macau welcomed “more than 890,000” visitors during the National Day holiday – a period also known as the October 1 Golden Week – according to Macao Government Tourism Office (MGTO) data. The tally – more than 80 percent of it stemming from visits by mainland Chinese – represented a year-on-year increase by 7.2 percent.
China’s State Council declared October 1 to October 7 as this year’s National Day holiday period.
In October as a whole, several of Macau’s other major feeder markets in Asia saw year-on-year decreases in visitor numbers. They were Taiwan, South Korea, the Philippines, Thailand, India, Malaysia and Singapore. The exception was Hong Kong, where the number of visitors to Macau in the month grew by 9.3 percent year-on-year to 509,369.
Macau’s visitor arrivals in the ten months to October 31 increased by 8.4 percent from the prior-year period to 28.97 million. Mainland Chinese accounted for 70.9 percent of the aggregate number of visitors in the first ten months this year – or 20.53 million visitors, up by 13.1 percent year-on-year.
Investment analysts have said that headline visitor numbers are not directly correlated to overall gaming demand, as gross gaming revenue (GGR) in the Macau market has been typically skewed to high-end play.
Official data show that Macau’s monthly casino gross gaming revenue (GGR) rose by 2.6 percent year-on-year in October, to nearly MOP27.33 billion (US$3.38 billion). It was also the highest monthly tally since October 2014, when casino GGR in the city stood at MOP28.03 billion.
The number of overnight and same-day visitors to Macau in October rose by 5.4 percent and 13.2 percent year-on-year respectively, to nearly 1.55 million and 1.60 million. The average length of stay of visitors in that month held steady year-on-year at 1.2 days.
Vietnam’s authorities have reportedly approved the inclusion of a casino in a resort on the island of Phu Quoc, local media reported. Significantly, the project has been allowed to join a three-year trial scheme permitting Vietnamese into selected casinos, reports added.
Online media VnExpress reported on Thursday that the People’s Committee of Kien Giang Province – where Phu Quoc is located – had announced that the country’s Prime Minister Nguyen Xuan Phuc had approved in principle the inclusion of a casino in the resort. It added the overall investment in the project – including the casino portion – was now set at VND50 trillion (US$2.14 billion).
It was unclear from the media reports as to when the casino portion would open to public. The overall resort – to also include hotels, shops and conference facilities – is to be completed by 2021.
The Phu Quoc casino is reportedly promoted by Phu Quoc Tourism Development and Investment JSC. The latter is controlled by Vietnamese conglomerate Vingroup, which owns 50 percent of the company.
The government lifted a ban on Vietnamese gambling in casinos in March 2017, following a decree in January 2017 allowing a trial project for gambling by economically-qualified locals at certain venues. But the market had still been awaiting news of how that policy would be applied in practice.
Customers must be older than 21 and have a monthly income of at least VND10 million. Only casino resorts with a total capital investment of at least US$2 billion – including gaming and non-gaming facilities – are eligible to welcome Vietnamese to gamble.
In November 2017, Augustine Ha Ton Vinh told GGRAsia the Vietnamese government was likely to open two casinos to local customers. Mr Ha, an academic who has advised the government on liberalising Vietnam’s gaming industry, said a resort in Northern Vietnam at Van Don and a second one on Phu Quoc Island would be among the first to admit locals.
A self-branded hotel named “Shinhwa Resort” at the Jeju Shinhwa World casino complex on the South Korean holiday island of Jeju, is likely to be ready next year rather than this year, the entire site’s promoter Landing International Development Ltd has confirmed to GGRAsia.
The new hotel facility still needs to get local-government permits confirming it can be occupied, a representative of the firm told us. The person declined to be identified by name.
The previously-publicised opening schedule for the Shinhwa Resort hotel was within the current quarter. The new hotel is part of Hong Kong-listed Landing International’s plan to launch in stages non-gaming elements at its Jeju resort.
“We have obtained the temporary occupation permit for one building of the Shinhwa Resort hotel. It is expected that permits for the remaining two buildings of Shinhwa Resort hotel will be issued in the first half of 2019,” the Landing International source told us.
Issuance of occupation permits would happen “after the Jeju government completes re-examination of the environmental impact of major development projects in Jeju,” said the person. “We will wait until all the three buildings [of Shinhwa Resort hotel] get permits, and then open in one go,” the representative added.
Shinhwa Resort hotel would target family visitors, and will have 533 rooms, the firm’s representative also noted to us. The hotel would provide “easy access” to the “Shinhwa Water Park” and a theme park at the resort complex. Shinhwa Water Park is an outdoor entertainment area launched in early August this year.
The guest room inventory of the entire Jeju Shinhwa World complex will total over “2,000” units once Shinhwa Resort comes into operation, according to Landing International’s interim report 2018 filed in September. By 2020, the group aims to open a Four Seasons Resort and Spa, with about 200 guest rooms, and a theme park called Lionsgate Movie World.
Businessman Jay Chun, head of the main promoter of the MGS Entertainment Show, a three-day Macau event that features a casino industry trade exhibition and conference, told GGRAsia he was “satisfied” with the 2018 edition.
Several casino sector exhibitors – that asked not to be identified – had expressed to GGRAsia concerns about a lack of foot traffic and more importantly a dearth of qualified buyers at this year’s event, which concluded on November 15.
Mr Chun told GGRAsia “no complaints” had been received by the organisers. “We did see management buyers that were from South Korea, Vietnam and Cambodia,” he told us.
The businessman is chairman of the trade show’s primary promoter, the Macau Gaming Equipment Manufacturers Association (MGEMA). He is also the chairman of Hong Kong-listed gaming equipment and casino services firm Paradise Entertainment Ltd, which makes and sells casino equipment under the LT Game brand and is a major exhibitor at the MGS event.
This year, the trade show had seen a total of 16,800 “entries and exits”, compared to approximately 15,270 “entries and exits” last year, said a reply sent by the main organiser. Its preliminary statistics did not include an estimate of unique visitors.
The 2018 edition covered 14,000 square metres (150,700 sq feet) of exhibition space, and attracted 163 exhibitors, said the hosts. That was almost at par with the exhibitor tally for last year. A total of 40 out of the 163 exhibitors at the 2018 event were gaming equipment suppliers or providers of gaming-related technology and services; the tally of this type of exhibitors stood at 35 in last year’s edition, the trade show organiser noted to GGRAsia.
The annual MGS event, first held in 2013, was originally known as the “Macao Gaming Show” and was initially presented as a localised alternative to Global Gaming Expo Asia, a Macau trade event usually held in May by Reed Exhibitions and the American Gaming Association, a casino industry trade body.
Mr Chun told GGRAsia he was satisfied with the overall 2018 offering, “especially the two summits” at the event. That referred to two conference tracks: one focusing on Asia’s land-based gaming industry; the other on digital entertainment and blockchain technology.
The trade show organiser told us an aggregate of 2,502 “attendees” was recorded for the two summits at this year’s MGS Entertainment Show.
A previous edition of MGS had featured online gaming companies on the trade show floor but such exhibitors were absent this year.
“For our show, we did not feature online [gaming] suppliers, but only the land-based ones… basically most of the Macau-licensed [gaming equipment] supplier firms have taken part in our show,” Mr Chun noted to us.
He said there would be a further expansion of non-gaming content in upcoming editions of MGS.
“Our new direction is that the show can become a one-stop shopping platform for integrated resorts, especially those that are looking for hotel supplies,” Mr Chun told GGRAsia.
For this year’s edition of MGS, the trade show had adopted a new name in Chinese, that translates as the “2018 Macau Leisure Technology Show”.
In 2018 – and for the first time – the event was jointly organised with several of China’s state-owned enterprises, namely Nam Kwong Culture and Creativity Industry Co Ltd, and China National Machinery Industry International Co Ltd. Mr Chun had noted in a September press briefing that the partnership with the state-owned companies would be for three years.
DraftKings Sportsbook looks in on the upcoming NFL Week 12 games on Thanksgiving. The NJ sports betting site has a few lines and odds to consider.
The post Hitting Paydirt: Giving Thanks During NFL Week 12 With DraftKings Sportsbook appeared first on .
As Thanksgiving approaches, NFL games are in the spotlight for NJ sports betting enthusiasts and BetStars NJ offers some info about the upcoming games.
The post BetStars NJ Sheds Light On Trends, Lines For NFL Thanksgiving Games appeared first on .
DraftKings Sportsbook offers new players an exclusive $60 in free bets just for signing up, no deposit required. The limited time offer ends Nov. 26!
The post DraftKings Sportsbook’s $60 Free Bet Is The Best Thing Since Apple Pie appeared first on .
Macau’s Judiciary Police has requested web hosting companies working outside Macau to block or remove so far a total of 237 alleged illicit gambling websites. So said on Tuesday Macau’s Secretary for Security, Wong Sio Chak (pictured in a file photo).
It was unclear from Mr Wong’s comments whether the figure referred only to 2018.
The official added that so far more than 130 of these websites had been blocked or removed.
Mr Wong reiterated that illicit gambling websites that pirated Macau casino brands “seriously damaged” Macau’s image as an international tourism and gaming destination.
The Judiciary Police had investigated and analysed these gambling websites, and had subsequently requested web hosting companies to block or remove these websites, Mr Wong said in a press briefing.
He added that the Macau government was preparing new legislation to curb spam text messages being sent by illegal telecoms equipment. Spam text messages are often used in Macau by criminal organisations to promote illegal gambling websites to mainland Chinese tourists. Mr Wong said he expected the new legislation to be ready next year.
During the first nine months of 2018, Macau’s Judiciary Police conducted a total of nine operations against spam text messages. These operations had resulted in a total of 22 arrests, Mr Wong noted.
Macau’s Judiciary Police recorded a total of 1,338 suspected gaming-related crimes during the January to September period, up by 1.1 percent when compared to the prior-year period, according to Mr Wong. The Macau authorities typically label cases as gaming-related when they take place inside a casino or in its surroundings.
More loansharking cases
During the January to September period, the police recorded a total of 390 gaming-related cases of suspected usury – unlawful lending of money and commonly known as loan-sharking. The tally represented an increase of 24.2 percent increase in year-on-year terms. The number of illegal confinement cases linked to gaming-related usury totalled 218, down by 34.7 percent when compared to the same period of last year.
Mr Wong said the year-on-year rise in the number of gaming-related loan-sharking cases was related to an increase in police investigations.
Macau’s Secretary for Security stressed that local authorities remained “highly on alert” to illicit money exchange activities in and around the city’s casinos. Such activities posed a “direct risk” to Macau’s security, in some cases leading to scams and cases of robbery, he added.
In October alone, police operations and police patrols in and around casinos resulted in the arrest of 670 suspects. Of those, 412 people were suspected of involvement in illicit money exchange activities, Mr Wong added.
In the first nine months of this year, gaming-related cases involving a total of 1,601 suspects were sent to the city’s Public Prosecutions Office, up by 0.2 percent year-on-year, the government official said.
Macau-based casino operator MGM China Holdings Ltd is likely to increase its share of the city’s gaming sector in 2019, says the Instinet LLC research arm of Japanese brokerage Nomura. That is despite a potential contraction of overall gross gaming revenue (GGR) in Macau next year.
MGM China operates two casino properties in Macau: MGM Macau on the peninsula and MGM Cotai (pictured) in the city’s Cotai district. The latter resort opened its doors on February 13.
“Investors should expect MGM Cotai’s ramp to be gradual through 2020,” analysts Harry Curtis, Daniel Adam and Brian Dobson wrote in a Monday note.
They added: “However, two new junkets opening in the next few weeks and the expected opening of the Mansion [villas] by Chinese New Year (February 5, 2019) should help MGM Resorts International be a share gainer in a declining Macau market next year.”
Their comments were made after a meeting on Sunday with the chief strategy officer of MGM Resorts, Aaron Fischer. MGM Resorts is the parent company of MGM China.
MGM Cotai contributed approximately US$172 million of net revenues for MGM China in the third quarter, with all gaming segments recording sequential growth in volume albeit at lower hold rates, the firm announced in October.
At the time, MGM China said it planned to launch MGM Cotai’s President’s Club – an exclusive premium mass gaming area – in December. The firm’s chief executive, Grant Bowie, also confirmed that the company aimed to have some of the Mansion villas – a high-end accommodation product also at MGM Cotai – ready in time for the upcoming Chinese New Year period, traditionally a peak season for Macau’s casinos.
Junket operations at MGM Cotai officially commenced in September, with the opening of two VIP rooms. Tak Chun Group, a major Macau junket investor, opened a club at MGM Cotai – its 17th in the Macau market – on November 1.
Mr Bowie mentioned to media in August that the casino operator expected to see a total of five junket operators establish VIP rooms at MGM Cotai between September and early 2019.
In a previous note issued last week, Nomura had forecast a scenario in which Macau GGR next year could shrink by 3 percent, with VIP revenue declining 10 percent, mass revenue up by 4 percent and slot revenue increasing 3 percent. The brokerage did its calculations in the light of the slide in shares in Wynn Resorts Ltd after the company gave a gloom-laden outlook for its Macau operations for the fourth quarter of this year.
‘Best positioned’ for Japan
Monday’s Nomura note also discussed MGM Resorts’ aspirations for a casino licence in Japan.
“Given MGM Resorts’ willingness to partner and its successful track record partnering with third parties such as Pansy Ho [Chiu King] in Macau and Dubai World at CityCenter, we believe MGM Resorts is one of the best-positioned, if not the best-positioned global gaming operator” when it came to winning a licence in Japan, the note said.
MGM Resorts’ US$9-billion CityCenter complex, launched on the Las Vegas Strip in December 2009, was developed in partnership with the Dubai World group, a holding company controlled by the government of Dubai. Macau-based casino operator MGM China was initially a 50-50 joint venture with local businesswoman Ms Ho. MGM Resorts now controls the firm, but she remains a significant shareholder.
The Nomura note indirectly quoted comments by Mr Fischer stating however that expectations for return on invested capital for a Japan casino resort should not be much higher than low double digits of percent “when infrastructure spending requirements are included.”
Several major global gaming operators have in recent months reaffirmed their respective interest in developing a casino resort in Japan. A number of industry executives expect the first casino licences to be issued in around the year 2020, with the first resorts to open for operation in circa 2025.
Last week a representative from the Tokyo office of business services firm EY told the a conference panel at the MGS Entertainment Show 2018 in Macau that it could be 2023 before licences are issued, with a four-year construction timetable pushing back the first opening to as late as 2027.
As reported last month by GGRAsia, Japan’s central government body coordinating casino liberalisation policy is contacting 67 major local governments across the nation asking what plans, if any, they are making for bids to host a casino resort. The central government wants by July next year to announce the policy framework under which those local governments can make their respective pitch to the national authorities.
“Within six to 12 months, MGM Resorts should know which cities will have integrated resorts in Japan,” stated the latest note by Nomura. “The front runners are currently Osaka, Yokohama and Tokyo,” it added.
A statute legalising the concept of Japanese casino gaming venues – the IR Promotion Bill – came into effect in December 2016. The second enabling bill – the IR Implementation Bill, approved in July – clarified several key points regarding the country’s nascent industry including: an initial cap of three casino resorts nationwide; a 30 percent tax on casino gross gaming revenue; and an entry levy of JPY6,000 (US$53) for Japanese citizens and residents of Japan wishing to enter such venues.
Gaming technology provider Scientific Games Corp says 2018 has been a “good” year in terms of performance in Asia, but the firm is already eyeing further growth across the region in 2019. So says Ken Jolly, its vice president and managing director – Asia.
Mr Jolly (pictured) told GGRAsia that Scientific Games’ priority in Asia for next year was to “continue to grow” sales across the region, helped by some new casino openings planned in several markets.
“We are bringing more games to our electronic table games and putting more functionalities in our systems,” he stated. “We will be bringing another link product next year.”
He was speaking at the MGS Entertainment Show 2018, held last week at Cotai Expo at the Venetian Macao.
Mr Jolly said 2018 had “been a good year overall” for Scientific Games in Asia.
“We have had some good advances in the Cambodian market,” he said. That included supply of product to Australia-listed Asian casino operator Donaco International Ltd. The latter operates the Star Vegas Resort and Club casino property, located in Cambodia’s Poipet region.
Mr Jolly added: “There is a lot going on in Singapore at the moment and, in addition to that, you have got a couple of openings in Vietnam.”
Scientific Games also increased its footprint in the Philippines during 2018, the executive said.
“As a big company in the gaming industry globally, we have always monitored all markets,” Mr Jolly explained. “There seems to be more action particularly in Cambodia right now, and obviously in Vietnam, and in [South] Korea’s Incheon with the projects that have been going on there.”
Incheon is home to a number of gaming venues. Last year, the Paradise City casino resort opened there, and two other casino resorts – the Inspire by Mohegan Gaming and Entertainment and the US$700-million Caesars Korea – are being built there.
Scientific Games’ gaming segment – which includes gaming operations, gaming machine sales, gaming systems, and table products – recorded total revenue of U$447.9 million for the quarter ended September 30, down 1.5 percent in year-on-year terms, the firm announced earlier this month. The company shipped 7,663 new gaming machines between July and September, including 5,038 new units shipped to North America customers and 2,625 units to international customers – the latter down 10.7 percent from the prior-year period.
At its MGS stand, Scientific Games displayed some of its latest product available for Asia. That included a new standalone title under its “Super Series” called “Super Flower of Riches”, derived from the company’s popular “Duo Fu Duo Cai” link series.
“It was just approved for Macau,” Mr Jolly highlighted.
Taiwan-based Jumbo Technology Co Ltd, a supplier of electronic table games, is exploring the chance for some forms of gaming operation in Cambodia and the Philippines, its business development director Allen Hsu (pictured) told GGRAsia.
He was speaking at the MGS Entertainment Show 2018, held last week at Cotai Expo at the Venetian Macao.
Referring to the Philippine Amusement and Gaming Corp (Pagcor), the casino regulator in that country – which also operates some state-owned casinos under the Casino Filipino brand – Mr Hsu said: “Pagcor has this new business strategy where the Pagcor-operated casinos are no longer buying machines.”
He added that instead Pagcor was using a “five-year leasing” system whereby the gaming machine manufacturer provided the product, and in return got a percentage share of economic benefit from operations.
“We are also looking to that,” he told GGRAsia. Mr Hsu indicated that were such deals to be struck, Jumbo Technology would be likely to have an active marketing role regarding placed products.
The executive noted that Jumbo Technology already had experience of running marketing campaigns for its products, in collaboration with several Philippine casino operators.
In Solaire Resort and Casino, run by Bloomberry Resorts Corp, and at City of Dreams Manila, operated by a unit of Melco Resorts and Entertainment Ltd, Jumbo Technology has had “experience of sponsoring marketing,” Mr Hsu said.
“For example, we sponsored a raffle draw for an iPhone; we sponsored a lottery. And it worked out very well.”
He added: “We are definitely confident that the marketing strategy that we have, can work with Pagcor as well.”
Gaming operations business in Asia-Pacific was “definitely getting more competitive,” from the manufacturers’ perspective, noted Mr Hsu.
“But in the long term I think it’s good, because it is recurring business, with recurring revenue,” he added.
VIP Baccarat game
The executive also explained some of the product on display at the MGS stand it was sharing with its Macau-based distribution partner Asia Pioneer Entertainment Ltd.
One of them was the electronic table game (ETG) branded VIP Baccarat. “It is a standalone game that offers one-on-one experience,” stated Mr Hsu.
The “VIP” tag is currently popular among equipment suppliers to describe certain customised games, even if such products are essentially aimed at what casino marketing people call “base-mass” customers – i.e., those likely to be playing HKD20 per hand, rather than the typical HKD300 minimum seen on Macau mass-market live-dealer tables.
Jumbo Technology and some other makers have nonetheless added features to certain such electronic table games that give the feeling of control to the player, in the manner of their more pampered fellow customers, the high rollers.
“We want every player to feel that VIP treatment,” Mr Hsu explained, referring to Jumbo Technology’s VIP Baccarat.
“Every hand you play, you can have three free hands. You can also ask the dealer to open [reveal] their cards first,” Mr Hsu added. The product additionally offers a virtual ‘card squeeze’ feature, to mimic the way players at traditional live-dealer baccarat tables like to manipulate their drawn hand before turning over the cards.
The game features a virtual dealer, and players have the option of changing the dealer in order to change their ‘luck’ – a common belief among Chinese players and a service that is often offered to live-table VIPs.
The product is already in the Macau market, at MGM Macau and MGM Cotai.
Also on display at MGS was Jumbo Technology’s Multi-Game ETG in round format, offering baccarat, sic bo, and roulette.
A special feature on the roulette game is a random pay feature, created by a tweaking of the roulette odds.
The executive also gave some commentary on the firm’s long-standing relationship with APE.
“APE has been our distributor for a long time, especially in Macau,” he noted.
“They started exclusively with Jumbo Technology… We see APE exploring different markets as well in Southeast Asia and we see them trying to enter into Cambodia as well as Vietnam. So I think that is a good opportunity for us to have more exposure of our product as well.”
Jumbo Technology “no longer has exclusivity to any distributor,” noted Mr Hsu, but he added his firm was “very, very comfortable with APE as our representative in Macau”.
Approximately 1,000 people were said to have gathered in Macau on Sunday to protest against a new, voluntary scheme regarding enjoyment of public mandatory holidays. The scheme is being proposed by the local government as part of a wider revision to the city’s Labour Relations Law.
The attendance estimate came from the protest organiser, local activist group New Macau Gaming Staff Rights Association. The police estimated about 400 took part in the rally, according to local media.
It is unclear if all those protesting were workers in the gaming industry. The proposed new scheme is to be applied to all people in Macau working in the private sector.
Protesters demanded the new public holiday scheme to be dropped. The rally participants also called for Christmas to become a mandatory holiday and urged the government to increase the statutory minimum number of weekly rest days for workers from one to two days.
The suggested amendment to the current Labour Relations Law would make it possible for the employee to choose – via a written agreement between the employer and the employee – to designate three mandatory holidays as normal work days. The employee would then be able to select three non-mandatory holidays as effectively “mandatory” leave.
For historical and administrative reasons, Macau has a public holiday calendar that includes “non-mandatory” days as well as mandatory ones. Mandatory holidays usually include festivals important in Chinese culture, and are times when friends and family are also likely to be on leave.
As stipulated by the current terms of the Labour Relations Law, those employees paid by the month and that are required to work on a mandatory holiday should be entitled to receive an additional day’s basic remuneration on top of their monthly pay, plus a compensatory rest day designated by the employer within 30 days following the performance of work. Such compensatory leave can be substituted – by agreement with the relevant employer – for a day’s basic pay.
Employees required to work on a non-mandatory holiday are not entitled to any additional remuneration or compensatory leave.
Several Macau gaming labour groups fear that, if the proposal is passed, workers could face pressure from their respective employers into agreeing to work on mandatory holidays. But Macau’s six casino operators reportedly pledged to the Macau government not to force employees into accepting the scheme.
Commenting on the casino operator pledge, the head of the New Macau Gaming Staff Rights Association, Cloee Chao (pictured in a file photo), said, as quoted by local Portuguese-language newspaper Jornal Tribuna de Macau: “Is it that the bill won’t be able to protect workers, and therefore the government must ask casinos to be become our protectors?”
Atlantic City casinos brought in $239.1 million total revenue in October, a 15.8 percent increase over last year's figure of $206.4 million.
The post Atlantic City Casinos Boast Another Good Month Of NJ Gambling Revenue appeared first on .
According to Betstars NJ, the Kansas City Chiefs have covered the point spread 80% of the time this season. But still, NJ bettors favor the NY Giants.
The post Chiefs May Be The Best Bet, But NJ Sports Betting Favors NY Giants At BetStars appeared first on .
BetStars NJ has a $50 free bet available for new users (no deposit required). But this NJ sports betting offer is only available Saturday and Sunday.
The post BetStars Rolls Out Limited Time $50 Free Bet Offer For NJ Sports Betting Users appeared first on .
Bringing e-Sports or virtual reality (VR) games into casinos is a “meaningful” experiment in diversification for casino operators, even in the Macau context, where the city’s casinos are famous for a focus on gambling via traditional games, said Michael Zhu (pictured), senior vice president of international operations planning and analysis at The Innovation Group, a consultancy.
He acknowledge that diversification into digital forms of non-gambling entertainment might not be as lucrative for the casino operators.
Mr Zhu was speaking at a conference at MGS Entertainment Show 2018 in Cotai Expo at the Venetian Macao.
His topic was how operators of modern casino resorts were using new non-gaming attractions to differentiate their properties and their corporate branding.
“These can be a meaningful tryout for diversifying offerings at integrated resorts. It is at least a good option to spread risks,” said Mr Zhu. He was giving commentary on some local examples such as e-Sports and virtual reality games designed to appeal to so-called millennials – young adults born at the turn of the current century.
The Innovation Group is a U.S.-based firm that provides consulting and management services for the gaming, entertainment, hospitality, sports and leisure, food and beverage and retail industries.
“It is hard to attract [some] visitors with just the traditional amenities… we did a lot of surveys on this topic… for the millennials, they are not very interested in bricks-and-mortar gaming,” Mr Zhu remarked to us on the sidelines of the conference.
“We cannot just let this type of customer go… Even though financially, compared to gaming or other types of amenities, this [e-Sports or virtual reality games] is not as lucrative but the tryout is meaningful,” Mr Zhu added.
Melco Resorts and Entertainment Ltd launched in July at its Cotai property Studio City a new e-Sports venue branded as “Macau EStadium”, which has an area of 10,000 square feet (929 sq metres) and is to host multi-player tournaments and live streaming of e-Sports events taking place elsewhere. Studio City is also to feature “Asia’s largest virtual reality zone” – a project that is to be launched around the time of Chinese New Year next year, property president Geoff Andres told us in late July.
Rival operator Galaxy Entertainment Group Ltd launched in late June a virtual reality gaming arena branded as “Zero Latency Macau” at Broadway Macau, in a 200-square-metre gaming zone featuring “zombie attacks, galaxy space missions and family fun adventures” that are for up to eight players at one time.
“With mass gaming gaining more importance and a rise in the number of tourists coming here [Macau], there are many new concepts that can be tried,” Mr Zhu remarked, referring to casino management efforts.
“… I think the most important thing is to integrate the [non-gaming] offerings with local elements, and make it a unique experience that cannot be found elsewhere.”
NJ online gambling revenue hit $26.8M, beating the previous online casino record of $25.9M in July. The champion Golden Nugget inched close to $10M.
The post NJ Online Gambling, Golden Nugget Shatter Revenue Records In October appeared first on .
This story is developing and will be updated. The sports betting industry in New Jersey seems to not recognize any limitations. According to NJ sports betting figures released Thursday by the NJ Division of Gaming Enforcement, retail and mobile sportsbooks took in more than $260 million in wagers in October. Online handle totaled $174 million. Of the $8.8 million in mobile revenue last month, DraftKings Sportsbook and BetStars … Continue reading "NJ Sports Betting On Fire With $260M In Handle In October, $174M From Online"
The post NJ Sports Betting On Fire With $260M In Handle In October, $174M From Online appeared first on .
Macau’s Chief Executive, Fernando Chui Sai On (pictured), delivered on Thursday the local government’s policy address for 2019, but the city’s leader provided no guidance regarding what will happen in the run up to when the licences of the six current Macau casino operators expire.
“Taking into consideration that the existing gaming concession contracts expire in either 2020 or 2022, we will strengthen the studies on this matter, and garner the community’s opinion about this issue,” Mr Chui said during his policy address.
In a press conference following his policy address speech, Mr Chui was asked about the casino licence refreshment process for at least two times, but he provided no additional concrete detail.
“Before the licences expire by 2022, we will be launching the tender process. Regarding those licences that expire two years earlier [2020], we’re studying how to deal with it,” he said. “There is still some time to go before 2020 and 2022. We will inform the public about this matter in an open and transparent manner.”
In the previous policy address, delivered in November 2017, Mr Chui had said that mid-2018 would be an “appropriate” time to provide more details regarding any extension of gaming rights for Macau’s current gaming concessions and sub-concessions.
The Macau government has commissioned at least two studies on the possible development of the city’s gaming sector in the period between 2020 and 2030, confirmed in December last year the city’s Economic Bureau in response to enquiries from GGRAsia. The studies were to be completed by the third quarter of 2018, but so far no information on the respective results has been made public by the government.
In May 2016, the Macau government published what it called a “mid-term” review of the local gaming industry. It amounted to 254 pages in the Chinese version. Some industry commentators had suggested prior to its publication that it might give some clues about the industry landscape after expiry of the current concessions. But the published document shed little light on whether the existing concessionaires might be allowed to stay in the market after the expiry of their current rights.
According to the current legal framework, a new public tender process should occur at the expiry of the current rights.
The first two casino licences to expire, namely in 2020, are those held respectively by SJM Holdings Ltd and MGM China Holdings Ltd. Ambrose So Shu Fai, chief executive at SJM Holdings, confirmed in June the firm’s intention to seek a two-year extension for its Macau gaming concession.
He said at the time the reason was to allow the firm to compete for fresh Macau gaming rights “at the same pace” as the four other gaming operators in the city. They see their current rights expire in 2022.
More non-gaming, tighter junket oversight
During Thursday’s address, Mr Chui said the Macau government would continue to promote in 2019 inclusion of more non-gaming elements in the city’s casino industry. He also said local authorities would continue to push casino operators to procure more services and products from local small- and medium-sized companies.
Mr Chui said his administration would also “strengthen supervision of junket operations” and continue to conduct audits on junket activities.
According to the policy address document presented by Mr Chui, the Macau government would continue to “strictly assess” applications for the importation of foreign workers based on prevailing economic conditions, and encourage large-scale enterprises – including the city’s casino operators – to hire a greater number of local workers.
The Macau government wants the share of locals working in middle- and upper-level management positions in the city’s casino industry to remain above 85 percent of the total, said the document.
(Updated at 9.00pm, Nov 15)
For now, there are 8 retail sportsbooks and 8 online sports betting apps in New Jersey. But NJ sports betting is just getting started.
The post Your Guide To NJ Sports Betting As NFL And NBA Games Pick Up The Pace appeared first on .
Japanese gaming equipment brand Konami has gained Macau regulatory approval for its “Fortune Streams” family of linked progressive video slot machine games.
The news was given to GGRAsia by Matthew Loon (pictured), product and marketing manager for Konami Australia Pty Ltd. “We are very excited about that,” he said.
The video slot has a four-level jackpot and a game theme based on traditional arcade coin pusher machines, a format popular around the world, including Asia.
Another key slot product for the Macau market – and already approved – is the standalone progressive “Cai Lai Si Ji”. “We are starting to roll that out in Macau casinos,” Mr Loon noted.
He was speaking at the MGS Entertainment Show 2018, a trade event featuring casino equipment and a conference about the regional casino industry.
In the Macau market, Cai Lai Si Ji and Fortune Streams are being offered via the dual-screen upright version of Konami’s Concerto cabinet.
“We also have four titles which weren’t approved at the time of the last [Macau] trade show, but are now,” Mr Loon said.
They are: “Year of Best Wishes”, “Orbs of Fire”, “Dragon’s Glory”, and “Golden Power Ingots”.
Mr Loon stated: “These are standard games. With their own title and their own feature; not progressive [style of play].” Each is said to have a unique free game feature.
Golden Power Ingots is already a “top performer” for Konami, said the company representative. “We have seen it perform well in multiple markets” in Asia, including Singapore, he added.
The brand is also “promoting heavily” Fortune Cup – a horse racing game that combines the mechanics of traditional arcade horse racing games with the sophistication of digital technology for betting and game presentation.
He mentioned additionally the brand would soon be “heavily promoting” the “stack” Concerto cabinet, a tall-screen version of Concerto. The firm hopes to receive relevant regulatory approvals before long.
Gaming and amusement conglomerate Konami Holdings Corp operates outside Japan via Konami Australia and U.S.-based Konami Gaming Inc.
At this year’s MGS Entertainment Show, Konami is exhibiting at the stand of Macau-based gaming equipment distributor Asia Pioneer Entertainment Ltd, with which it has a commercial agreement.
Slovenian maker of electronic table games Interblock DD says it is aiming to install its first multi-game machines in the Macau market “by the end of the year”. “It’s a great achievement for us as we can grow our presence” in Macau, said Michael Hu (pictured), Interblock’s vice-president for Asia, in comments to GGRAsia.
In August, Paradise Entertainment Ltd, a Hong Kong-listed firm specialising in supplying gaming machines for the Macau market, said it had given Interblock the licence to intellectual property rights for certain multi-game gaming machines in Macau that do not involve use of a live dealer. Paradise Entertaiment’s gaming equipment brand LT Game Ltd claims privileged commercial rights in Macau on live-dealer multi-game machines.
Mr Hu said Interblock was now able to grow its market share in Macau. “Automatic, virtual, video, we can put in as many games as our customers want, as long as it is non-live,” he stated.
He added: “I expect to have by the end of the year our first multi-games installed in Macau.”
The executive said the firm was currently negotiating “with several properties in Macau,” adding that there were advanced negotiations with venues operated by Melco Resorts Entertainment Ltd. “They [Melco Resorts] are very keen in reconfiguring their games offering,” he added.
Mr Hu was speaking at the MGS Entertainment Show 2018, a Macau-based trade event featuring casino equipment and a conference about the regional casino industry.
Despite the possibility of expanding its installed based in Macau, Interblock’s Mr Hu does not expect a huge growth in the market, but “some steady progress”.
Interblock has been very active in other jurisdictions across Asia, announcing this year new installations in South Korea, the Philippines and Vietnam.
“We are growing very fast in Vietnam and have more than 2,600 machines installed in that market,” said the executive, adding that the company holds a market share “of about 95 percent” in Vietnam.
The Philippines is also an expanding market said the company. That was particularly the case since Interblock struck a lease agreement with the Philippine Amusement and Gaming Corp (Pagcor), that country’s gaming regulator-cum-operator.
Pagcor directly operates a suite of state-run casinos and oversees a number of private-sector ones. Its own brand of casinos is called “Casino Filipino”. According to Pagcor’s website, the brand operates venues in nine locations across the country, and has a further 31 so-called “satellite” sites across the Philippines.
“We are now moving to a lease agreement with Pagcor, covering 14 of their venues,” Mr Hu told GGRAsia.
“We have about 200 gaming machines under this lease agreement. We expect to expand this agreement and increase the number of machines next year,” he said, adding that Interblock also had “a great presence” in the large-scale casino resorts in Manila.
Mr Hu said the company anticipated announcing soon “something big” with Cambodia casino operator NagaCorp Ltd. “We expect that to be announced next year,” said Interblock’s vice president for Asia.
The executive said additionally that the company continued to invest heavily in research and development, “in order to incorporate more entertainment features” into the firm’s gaming products.
The company has updated its Interblock Stadium product to add ‘mood’ music for different phases of the table games that can be played on the platform. Interblock Stadium can offer up to five game types: mechanical roulette, mechanical sic bo, virtual roulette, virtual baccarat, and keno.
Pennsylvania's Parx Casino partners with gaming tech company Kambi Group and could make a possible move on the NJ online sportsbook market.
The post Pennsylvania Casino Parx Could Join NJ Online Sports Betting Market In The Future appeared first on .
PokerStars launched its new customer loyalty program, Stars Rewards, in New Jersey for its online casino, sportsbook (BetStars NJ), and poker room.
The post Stars Rewards Rolls Out For New Jersey PokerStars And BetStars Players appeared first on .
The Macau Statistics and Census Service estimates that Typhoon Mangkhut caused economic losses to the city amounting to MOP1.55 billion (about US$192.1 million), including MOP960 million in losses to the gaming industry.
A written statement posted online on Monday by the Statistics and Census Service said the storm is estimated to have caused direct losses of MOP520 million and indirect losses of MOP1.03 billion. All the losses to the gaming industry were considered indirect.
Casinos in Macau were closed from late on Saturday, September 15 until the following Monday morning while Typhoon Mangkhut passed close to the city – something that had never happened before since the casino industry liberalisation in 2002.
The precautionary closure of all casinos was agreed by the government and the six operators of Macau casinos. The government said afterwards that it had yet to consider whether to make such closures mandatory when a strong storm threatens Macau.
The Statistics and Census Service said its estimate covered economic losses of businesses, and losses caused to homes and vehicles of households, municipal facilities and certain public service systems, among other things. The statement said the government and the community in Macau were well prepared for Typhoon Mangkhut, so curbing the harm the storm did to the economy.
Mangkhut was one of the fiercest recorded storms ever to hit Macau. It passed over the city with wind speeds of about 160 kilometres per hour (99.4 mph), causing serious flooding in the city and damage to infrastructure. Floodwater levels reached up to 1.9 metres (6.2 feet) above road level in some areas.
Several Macau gaming labour groups – including one usually seen as the most aligned with the local government’s thinking – have requested withdrawal of a law amendment proposal on compensatory leave for working any of four specific locally-designated mandatory holidays. The workers fear the proposal could leave them with less attractive compensatory leave rights than they enjoy under existing practices.
The holidays in question are: the Lunar New Year holiday, Cheng Ming Festival, the day after the Mid-Autumn Festival and Chong Yeong Festival.
The suggested amendment to the law would make it possible for the employee to be able to choose – via a written agreement between the employer and the employee – to designate three mandatory holidays as normal work days as well. The employee would then be able to select three non-mandatory holidays and enjoy the mandatory leave.
The Macau government’s proposal is part of a a wider revision to the Labour Relations Law.
For historical and administrative reasons, Macau has a holiday calendar that includes “non-mandatory” days as well as mandatory ones. Mandatory holidays usually include times when friends and family are also likely to be on leave.
“We’re disappointed with the government proposal,” said Lei Iok Po, director of labour group Power of Macau Gaming in comments to GGRAsia. His group voiced its opposition at a press conference on Monday and via a petition to the Labour Affairs Bureau on Friday.
Several other local labour groups, such as the traditionalist Federation of Trade Unions – usually the local labour grouping most amenable to local government public policy – and activist group New Macau Gaming Staff Rights Association, also voiced similar views during the past week.
As stipulated by the current terms of the Labour Relations Law, those employees paid by the month and that are required to work on a mandatory holiday should be entitled to receive an additional day’s basic remuneration on top of their monthly pay, plus a compensatory rest day designated by the employer within 30 days following the performance of work. Such compensatory leave can be substituted – by agreement with the relevant employer – for a day’s basic pay.
Local labour groups fear that the proposed amendment would mean that workers who agree to work on mandatory holidays and to select three non-mandatory holidays to enjoy the respective mandatory leave, could have their benefits for working on a mandatory holiday reduced.
Mandatory vs non-mandatory
Currently Macau has 20 public holidays, 10 of which are mandatory holidays. The latter are: New Year’s Day; Lunar New Year’s Day; the second and third day of the Lunar New Year; Cheng Ming Festival; Labour Day; the day following Mid-Autumn Festival; China’s National Day; Chong Yeung Festival; and the Macau SAR Establishment Day.
The Labour Affairs Bureau said in a November 9 statement that its legal amendment proposal spells no change to the existing compensation terms for employees working on a mandatory holiday as stipulated by the Labour Relations Law.
“The purpose [of the legal proposal] is to allow employees from different nationalities and cultural background to negotiate with their respective employee, and shift the compensatory rest days to public holidays for working on designated mandatory holidays; that can also facilitate the companies in managing better their operation and human resources,” the Labour Affairs Bureau’s statement reads.
“We’re not very convinced by the [Labour Affairs] Bureau’s remarks. Because the existing compensatory terms for working on mandatory holidays are good enough for the employees,” Mr Lei remarked to GGRAsia, “We’re also not very sure that the workers have enough negotiation power if disputes happen [with the employer] once the government’s proposed arrangement is in practice.”
“The workers mainly fear that they cannot get the compensation [for working on a mandatory holiday] as promised by the [Labour Relations] law, if the companies go by the government proposal to give them an option to get a compensatory rest day on a public holiday,” Mr Lei said of his group’s concern, referring to the scenario of an employee’s getting a compensatory rest day on public holiday by having worked on three of the four mandatory holidays as the Macau government proposed.
Japanese gaming conglomerate Universal Entertainment Corp reported third-quarter profit of JPY167.97 billion (US$1.47 billion) on net sales of JPY67.01 billion.
In 2017 the firm had changed its fiscal year end from March 31 to December 31, so year-on-year comparisons were not possible regarding the latest numbers filed to Jasdaq.
Group net income per share for the third quarter and diluted net income per share were JPY2,124.82 and JPY2,120.74 respectively, the firm said in a Friday release.
Universal Entertainment makes much of its income from pachinko games, a product class largely confined to the Japanese domestic market.
But the group has also made a significant foray into the regional casino market, via Okada Manila (pictured), a casino resort in the Philippine capital, which had a soft launch in December 2016. The property subsequently opened a number of additional facilities in stages.
The operating loss at Okada Manila grew in the third quarter, by JPY125 million, to nearly JPY1.74 billion, driven by an increase in depreciation and amortisation.
The casino resort business generated adjusted segment earnings before interest, taxation and amortisation (EBITDA) of JPY1.08 billion in the third quarter of 2018. That was up 302 percent sequentially compared to JPY269 million in the second quarter of 2018. In the first quarter such adjusted earnings had been JPY20 million.
Nonetheless, VIP rolling chip volume in the three months to September 30 – recorded in Philippine pesos from an installed base of 153 tables – was down 30 percent sequentially. Such chip volume was nearly PHP100.47 billion (US$1.89 billion), compared to nearly PHP143.50 billion in the second quarter.
Mass table and gaming machine sales increased sequentially in the third quarter, due to “a number of new marketing initiatives,” said the group. These included “improvements in loyalty programmes and promotions” and also due to “better operation of tables and gaming machines of which we have installed the largest numbers in Philippines”.
Mass table drop – from an installed base of 232 mass tables – was nearly PHP4.43 billion, compared to PHP3.88 billion in the second quarter, an increase of 14.1 percent.
Gaming machine handle was PHP31.86 billion in the third quarter, compared to PHP29.10 billion in the second quarter, an increase of 9.5 percent.
The firm said in some commentary accompanying the third-quarter casino results: “In the fourth quarter, additional hotel rooms are expected to be open. This will help support continued growth in the casino business as well as better position the resort to host large group events and foreign tour groups.”
It added it anticipated VIP casino revenues would “continue growing driven by the addition of new junkets, and improved room supply and amenities attracting more demand from existing junkets”.
Bloomberry Resorts Corp, operator of Solaire Resort and Casino (pictured) in Manila, the Philippine capital, reported consolidated net profit down 38.9 percent year-on-year in the third quarter.
Such profit was PHP1.13 billion (US21.3 million), compared to PHP1.86 billion in the prior-year quarter.
The firm said the decline was due to lower earnings before interest, taxation, depreciation and amortisation (EBITDA) and a 159-percent increase in interest expense relating to a “new syndicated loan”.
The firm said its third-quarter VIP gambling volume went up 10 percent year-on-year, but due to a lower than normal hold rate, Solaire’s VIP gross gaming revenue (GGR) went down 26 percent, to PHP3.98 billion.
The firm reported that mass-table drop and electronic gaming machine coin-in posted “strong” year-on-year growth rates in the three months to September 30, namely 27 percent and 9 percent respectively.
Mass-table drop was PHP12.27 billion, while electronic gaming machine coin-in was PHP54.31 billion. Bloomberry Resorts said the numbers were record quarterly highs.
The company’s third-quarter consolidated EBITDA was PHP3.18 billion, 8 percent lower year-on-year, due to a “low VIP hold rate of 1.91 percent for the quarter,” it said.
“The proceeds of the new syndicated loan were used to retire previous debt facilities and finance the acquisition of land from Pagcor where Solaire and its expansion area is located in Entertainment City,” said the firm. It was referring latterly to a deal made earlier this year with the country’s regulator, the Philippine Amusement and Gaming Corp, also known as Pagcor.
As of September 30, Bloomberry Resorts had PHP3.58 billion in gross receivables, 36.5 percent or PHP958 million higher than at the beginning of the year “mainly due to additional credit issuances”. Receivables aged more than 90 days decreased very slightly – by PHP19 million – from the previous quarter, to PHP356 million.
Bloomberry Resorts also owns the Jeju Sun Hotel and Casino – which has a foreigner-only gaming facility – in Jeju, South Korea. The property generated GGR of PHP297.0 million, down 8.3 percent from last year.
“Jeju Sun continued to be challenged by the effects of competition and the decline in Chinese tourist arrivals in Jeju,” Bloomberry Resorts stated.
The South Korean market for inbound tourism has been facing headwinds due to a political row between that country and China over the siting on South Korean soil of a U.S.-supplied missile system – known as Terminal High Altitude Area Defense (THAAD) – designed to counter North Korea’s ballistic missile programme.
BetStars NJ has a $50 free bet available for new users (no deposit required). But this NJ sports betting offer is only available Sunday and Monday.
The post BetStars Rolls Out Limited Time $50 Free Bet Offer For NJ Sports Betting Users appeared first on .
In its earnings call last week, Paddy Power Betfair's CEO Peter Jackson called FanDuel Sportsbook a success with optimism for NJ sports betting.
The post Optimistic Betfair Pleased With FanDuel’s Performance In NJ Sports Betting appeared first on .
Macau’s Court of Second Instance has ruled that casino operator Wynn Macau Ltd was jointly liable for the refund of a chip deposit worth HKD6 million (US$766,440) lodged with Dore Entertainment Co Ltd, an operator of Macau gambling junkets.
The case is related to a high-profile 2015 incident of alleged theft of large amounts of Dore Entertainment money by an ex-cage manager from a VIP room at the Wynn Macau casino hotel (pictured). At the time, a number of people came forward claiming they had invested with Dore Entertainment on the promise of higher returns than those offered by regulated banks but had lost their money because of the alleged incident.
In April, the Court of First Instance ruled that Dore Entertainment had to repay the HKD6-milliong chip deposit to a client, but it held that Wynn Macau Ltd bore no responsibility in that particular case.
In the decision released last month – and first reported by the Chinese-language newspaper Macao Daily News earlier this week - the Court of Second Instance decided that Wynn Macau Ltd was jointly liable for repaying the deposit plus interest at the legal – i.e., regulated bank – rate. That was because Wynn Macau Ltd is the gaming concession holder that was overseeing at the time the VIP room where the alleged theft took place.
In an email reply, Wynn Macau Ltd told GGRAsia that the company does “not comment on litigation matters”. The company did not say if it intended to appeal.
According to the court’s latest decision, the existing regulations in Macau aim to give more responsibility to the concessionaires in terms of oversight of the activities of junkets, their administrators and collaborators.
“It is reasonable and logical to demand [from the concessionaires] the duty of monitoring those [junket] activities,” as well as there to be jointly liability for the outcomes of those activities, wrote the judges.
As such, even though a gaming promoter might have obtained financing via illegal means in order to keep operating a VIP room, “such activity reflects directly on the operations of the concessionaire”.
In their judgment, the court said Wynn Macau Ltd should be jointly liable for the damages caused by the Dore Entertainment’s activities, for neglecting its oversight duty, thus “allowing or even tolerating that a gaming promoter ran such activities in its casino”.
Dore Entertainment never publicly disclosed how much the employee allegedly stole. The firm only stated it ranged from HKD200 million to HKD2.0 billion. Complaints made to the Macau police from those claiming to be investors in the cage operations of Dore Entertainment amounted to at least HKD520 million, according to previous media reports.
On Thursday, Ambrose So Shu Fai, chief executive of Macau market rival SJM Holdings Ltd, was asked by reporters to comment on the court’s decision.
Mr So reportedly said that he didn’t believe that the ruling from the Court of Second Instance would become a legal precedent for other eventual cases involving the liability relation between casino concessionaires and junket operators.
The executive added that any court decision should take into consideration the specific arrangements between casino operators and junkets.
The SJM Holdings CEO noted however that the ruling would make casino concessionaires “more cautious” in their arrangements with junket operators. Mr Ho added that he expected the government to introduce specific guidelines regarding these matters, in order to reduce the chances of such cases happening again.