Tunica, Mississippi
On June 2, 2014, after 18 years, Harrah’s closed its doors. Owned by Caesars Entertainment Corporation, the casino has been losing money in recent years and is now approximately $23 billion in debt. Caesars blames the lose mostly on the increase in competition. When Mississippi opened its door to the casino industry, people from surrounding states flocked there to try their luck. Over the years, many of those states have now have casinos, making the trek to Tunica less appealing. Closer to home, in West Memphis, Arkansas, is Southland Park Gaming and Racing. A relatively new venue, it reports a profit last year of $142 million, more than most Tunica casinos. The city of Tunica is also taking a lose due to Harrah’s closing. When Harrah’s closed, 1000 people became jobless. Also, Harrah’s had the largest convention center in the city and its closing will cost the city advertising revenue.
Las Vegas
On August 23, 2014, SLS Las Vegas Hotel and Casino will open. Located on the Las Vegas strip, it is the first casino to open in nearly five years and will bring more than 3,000 jobs to the city. SLS Las Vegas has erected a 10,000 square-foot lighted marquee that will count down the days to the grand opening. The SLS Las Vegas will offer five diverse restaurants for their patrons’ dining pleasure. The hotel has 1,600 rooms and suites and reservations are now being accepted on their website : http://slslasvegas.com/.
The Bellagio in Las Vegas reported that on June 7, 2014, a Florida resident won the “Wheel of Fortune” progressive slot jackpot in the amount of a whopping $1,094,560.56. The patron was visiting family in Las Vegas when lady luck struck.
Macau, China
Macau, with a population of about 600,000, is the only city in China where gambling is legal. Attracting millions of tourists each year, its revenue for 2013 was reported to be $45 billion, an almost 20% increase over the previous year. Compare that to Las Vegas, which will make an estimated $6.5 billion for the year. The casino industry in Macau became big business in 2002, when restrictions on foreign operators were lifted. This opened the door for the likes of the Las Vegas Sands and Wynn Resorts to invest there. Hong Kong gamblers rely on ferries to carry them to Macau and so the government is seeking to build an access bridge.
Tokyo, Japan
Japanese lawmakers are currently debating a bill that would legalize casinos. Japan has gambling in the form of “pachinko” pinball, slot machine arcades, lotteries and boat and horse racing. The casinos would be like resorts and offer a wide range of leisure and entertainment options. Supporters of the bill say that the casinos would attract more tourists, as they have in Singapore and Macau. Not everyone, though, is in favor of casinos. Many women in Tokyo fear the casinos will be a bad influence.