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June 19, 2011

Wsop 2011: Old Game In New Style

Filed under: Casino — Tags: , — OCE News @ 12:00 am

The World Series of Poker or WSOP is the most renowned poker tournament in the world and has been around since 2005. It comprises a series of games that are held annually in Las Vegas. The 2010 World Series of Poker tournament was held at the Rio All Suite Hotel and Casino, Las Vegas. The tournament lasted from May 27 to July 17. The winner of the 2010 WSOP was Jonathan Duhamel, who also became the first Canadian to win the event. He won a whopping 8.94 million US dollars in prize money.

The 2011 WSOP event is slated to start from May 31 and will last through July 19. The location for the WSOP 2011 remains the Rio All Suite Hotel and Casino in Las Vegas. November will see the return of the final table game of the main event, as has been the trend since 2008. The WSOP 2011 has been in news for the fresh changes that have been introduced.

Slated Changes for Better Viewership

WSOP directors had promised to viewers that the visual experience pertaining to WSOP 2011 will be richer than ever before. Poker fans, who were earlier either attached to online casinos or their land-based cousins, are assured a wider coverage of all the games that would be played during the course of the tournament. They have been promised a comprehensive television broadcast of the event and various facets associated with it.

Therefore, gambling enthusiasts would now be able to see the poker tables and players. In addition, visual aids would also be provided for better understanding of the game. An announcer will explain the developments during the wagering session in case the viewers find it difficult to understand and follow. This style of broadcasting is a first in the history of poker gaming and WSOP.

Contract with ESPN

Naturally, WSOP directors had to engage themselves in a contract with a sports channel broadcaster for comprehensive coverage as desired. The contract for television coverage was established with ESPN, and the term lasts up to the year 2017. Apart from showcasing events that occur on the same day, ESPN will also be providing additional coverage during the course of the principal event of the tournament. The experience would be quite similar to enjoying events at online casinos, which is very much a part of the virtual gaming experience.

Internet televisation will allow maximum coverage of the events, and WSOP fans can instantly receive the coverage on their television sets. However, WSOP director Ty Stewart has clarified that televising all 58 events might not be an achievable feat. But visual accounts of all events will be surely provided.

Changes in Game Rules

Apart from the broadcasting rights that have been provided to ESPN, several other changes are also slated for the 2011 WSOP event. To begin with, the rules of the Poker Hall of Fame will change this year. In addition, the venue for the WSOP will be provided with Smartphone charging stations, and there will be free internet access at the venue as well. All these facilities are bound to benefit players at online casinos. Satellite services have also been enhanced and additional games have been added to the list. Such changes will definitely enhance and enrich the experience of enjoying the WSOP even more from this year on.

Given the huge popularity of poker, organizers of the 2011 World Series of Poker have signed with a contract with ESPN to provide better and more elaborate coverage of the game to viewers.

June 15, 2011

Huge Resort Expansion In Idaho Revealed

Filed under: Casino — Tags: — OCE News @ 12:00 am

On Tuesday, May 24, 2011, Coeur D’ Alene Casino Resort Hotel announced that they are to seriously expand their premises. The casino resort, which is tribally owned, will incorporate a range of new and exciting features. It’s already home to one of the country’s top 100 best public golf courses according to Golf Magazine and Golf Digest: the Circling Raven Golf Club. It’s based in the Idaho panhandle, close to Washington’s Spokane Airport.

The resorts Tribal Chairman stated: “When we announced we were going to undertake a $75-million expansion, many thought we were crazy. The Tribe didn’t sit back and wait to be victimized by the economy. The Tribe took control of its own destiny. We moved forward with a vision, the results of which can now be found inside this beautiful resort.”

Past Expansions

The resort originally opened as a bingo hall, measuring 30,000 square feet in 1993. In May 2009, the project completed its seventh expansion. This brought with it over 200 new jobs and managed to increase employment in the tribe over 2,000. This made the resort North Idaho’s biggest employer.

Chief Executive Officer of the casino resort, Dave LaSarte Meeks, is quoted as saying: “The amenities we added have dramatically expanded the resort and the overall experience our guests can expect here.”

The New Features

A number of features are to be added to the Coeur D’Alene Casino Resort Hotel. These include the following.

Approximately 100 new hotel rooms which will be located in two separate wings. These will have a view over Circling Raven which consists of native wetlands and the Palouse hills. Each room will be spacious and contain up-to-date conveniences and technology. The design will consist of 10 feet doors and windows stretching from the floor to the ceiling.

Ts’elusum, which means “stand before the fire,” is the name of the gourmet steakhouse. While deciding on which wine to pick from a wide selection, diners will be able to observe the chefs as they prepare Kobe beef and finest prime above an open wood fire. Alternatively, they can take in stunning views of the meadows surroundings.

A full-service spa, named Ssakwa’q’n, will stretch out over 15,000 square feet. The names refer to a little, refreshing lake located on the top of a mountain. This will incorporate an open-air swimming pool, cedar saunas, Vichy shower, treatment rooms, and a tea lounge.

A “Front Yard” will be home to an outdoor amphitheater. Here, concerts and other events will take place.

“Yap kee num” will be a sport bar and cafe. It will offer a wide range of wines, beers, and spirits as well as “pub food.” Outdoor seating will also be available.

All in all, the expansion is set to be beneficial not only for the resort, but also for the area in general. It should generate a multitude of new jobs and entice in more players.

June 5, 2011

Macau To Attract Mass Market Through Casino Resorts

Filed under: Casino — Tags: , — OCE News @ 12:00 am

Macau, the favorite destination of the world’s gamblers, is broadening its consumer base. It is shifting its focus from the rich and celebrities to the mass market of Chinese gambling. Macau is just a short distance away from Hong Kong. It generated approximately $24 billion revenue in 2010. Seventy percent of this revenue came from affluent Chinese families.

To provide a more rewarding and reliable option, Macau is looking at the newly built world-class casino resorts that target the affluent middle class people of China. This serves the double purpose of promoting Macau as a tourist destination for shopping, sightseeing, and other activities in addition to gambling.

More Affluent Middle Class in China

When Portugal handed over Macau to China in 1999, it became the only part of China where gambling was legal. The wealthy and affluent Chinese started heading for Macau to enjoy a lavish lifestyle and spend money on gambling, which was not possible in the mainland. But this also started the problem of licensed middlemen who financed rich mainland Chinese and they assumed the responsibility of paying off their gambling debts. Due to PRC becoming more active in world trade, the source of funds for gamblers became highly volatile. On the other hand, the Chinese middle class has become more prosperous, therefore a more reliable market for the gambling industry in Macau.

Annual growth of Macau gambling market is estimated to be 27 to 35 percent. Analysts expect that mass market segment will grow by 30 percent in the next three years. It is more than double the growth of the VIP market segment. Michael Joaquim das Neves, the Director of Macau’s Gaming Inspection and Coordination Bureau (DICJ), has pointed out, “ the

VIP market depends on a few numbers of people, whereas mass market is a big number. We prefer and encourage the faster growth of mass market.”

Infrastructure Support to Develop Macau

The travel time between Macau and mainland of China will be significantly shortened by a Guangzhou–Zhuhai high-speed railway network. This infrastructure upgradation will help in expansion of Macau as a tourist and gambling resort. Further access will be facilitated by expansion of the Gongbei gate at the border. By 2015, a light transit railway and a bridge will connect Hong Kong to Zhuhai and Macau.

With all these support and changes, analysts are very positive about the prospects of Macau and its gambling industry. In the current scenario, casino-resorts developers and operators are excessively expanding their presence in Macau and building new resorts. Among the latest projects is the Galaxy Entertainment Group’s new facility, opened on May 15, which costs $1.9 billion.

This Galaxy resort has a 350-ton man-made beach, a multiplex cinema, and a sky-top wave pool among other attractions. Within next 9–12 months, the number of hotel rooms in Macau is expected to increase by 41 percent, which means 8200 hotel rooms. In spite of the massive increase in hotels and resorts, it is expected that these will be fully booked once they come into full operations. Other major companies on the expansion scene are Sands china, Wynn Macau, MGM resorts International, and Stanley Ho’s SJM.

June 3, 2011

New Casino Constructions On Hold In Ohio As CAT Is Too High

Filed under: Casino — Tags: , — OCE News @ 12:00 am

To help the budget, Ohio State is looking at construction of new casinos to raise revenues. But the imposition of Commercial Activity Tax got these plans derailed. This law was promulgated in 2005. It replaced the state’s Corporate Franchise tax and property taxes levied on the inventory, equipment of businesses, and fixtures. The new CAT system was supposed to be simple as compared to the old tax scheme which generated about $1.3 billion annually for state and local schools. The older system was considered too high and too complicated because too many exemptions over time have been incorporated.

CAT for New Casinos of Ohio

The new CAT system would reduce the tax on Ohio’s declining manufacturing industry and shift the burden to the growing service industry. This means CAT would apply to the state’s new casinos. CAT is 0.26 percent for every $10,000 in revenue. The problem is not the rate but the disagreement between Ohio Department of taxation and Casino owners regarding exactly what constitutes taxable revenue for casinos.

The casino industry defines the revenues as the total loss by gamblers in that casino or the NET winnings of the casino. But a March 2010 memo of Department of Taxation stated that tax should be applied on total bets placed in the casino. If a gambler bets $100 in total, but loses only $19, the CAT is applied to $100.

Early this month, the Ohio House of Representatives approved a proposal to its effect. This means the difference between an estimated $5.2 million and $59 million that needs to be paid by the casinos every year. This amount is enough to turn a profitable casino into a losing one. These extra taxes could make a casino a bad investment or an unprofitable one.

The American Gaming Association, a gambling trade group, points out that other casino states like Illinois, Pennsylvania, and West Virginia base the tax on what the casino wins, not on total betting as Ohio wants to. But the Government argues that “The CAT was designed to apply to a business’ total gross, not a net calculation of receipts after expenses.” There is a strong argument that the CAT should extend to a casino’s gross wagers.

Other Forms of Gambling Have Different Rules

In case of racetracks, taxes have been levied based on commissions the track makes on bets, not on the bets placed. The Department gives the argument that gambling system on racetracks is different from that in a casino. The racetrack gamblers bet against each other and the track only collects the commission. But in casinos the gamblers bet against the casino. Therefore, CAT is applied only on commission in racetracks, but on all bets at casinos.

As far as lotteries are concerned, they are not taxed because they are run by state, therefore are tax-exempt. Lottery sellers pay CAT only on the commissions they make from ticket sales. As compared to other forms of gambling, casino gambling is at a loss, tax-wise. Therefore, casino owners have placed construction of new casinos on hold until the issue is resolved. For example, a Cincinnati-based casino’s opening, which was supposed to be done in a few months, has been pushed back to 2013.

June 1, 2011

Online Gambling Can Increase Popularity Of Land-Based Casinos

Filed under: Casino — Tags: , — OCE News @ 12:00 am

The fear of traditional casino operators regarding loss of business due to online casinos has been given a break following the results of a recent research. This research shows that online gambling does not pose a threat to the business of traditional land-based casinos. Presented at the recent iGaming North America 2011 conference, the research showed that online gaming can actually increase the popularity of the traditional gambling houses. This conference was held in Las Vegas in May for three days and was an inaugural event that aimed at giving the traditional casinos a venue to network. They have a place to examine and discuss different aspects of online gaming now.

A Venue Where Representatives of Different Sectors Met

Representatives of different sectors of the gambling industry like vendors, suppliers, operators, government regulators, and consultants came together. In iGaming North America 2011 conference, various topics were discussed. These included global reach, opportunities, technological issues, commercial success, and many more topics that most land-based casino owners had never discussed or known before.

This conference was organized by Bola Verde Media Group, Lewis & Roca, and the Innovation group. Bola Verde is a St. Louis-based consultancy group which provides its clients with research and analytics of the online gaming industry. Lewis & Roca is a law firm that represents clients in the industries including casino operators, gaming equipment suppliers, investors, and other collateral business dealing with the casino and gaming industry.

The Innovation group provides consultancy and advisory services and is deeply involved in evaluating market opportunities and helping to draft

gambling laws. This company has conducted a primary research to find out the impact of internet casinos on traditional gambling houses.

The conference was attended by over 300 delegates and featured well-known figures in the online casino industry. The delegates expressed the desire for the coexistence of both online gambling and land-based casinos. This has been the main concern showed in the conference.

Debate on the Issue of Online Gambling vs. Traditional Casino Gambling

One of the prominent delegates Jan Jones, Senior VP of communications and Government relations for Caesars Ltd., emphasized the need for responsible business strategies to strengthen the relationship between online gaming and land-based gambling establishments. She noted that younger people are also getting interested in gambling, with majority choosing online gambling, though the average age of the gambling patron was 50 years. Therefore, instead of fearing the online gambling industry, its better to develop an online presence as it works to boost the total number of people interested in gambling.

Traditional casino owners were not totally convinced by the arguments. They expressed contrary opinion that there is a declining trend in the number of land-based poker players as a consequence of rising number of internet gambling games. Though Steve Rittvo estimated that if the United States legalizes online gambling, the gambling market could double in the next five years.

The results of the research are not withstanding, and the debate will go on, it seems. Looking at the present scenario, it seems the traditional casino owners will have to come in terms with the online gambling industry and be prepared for peaceful coexistence in near future.

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