Online Casino Edition – Casino News News about online casinos and gambling

April 14, 2013

Singapore’s Growing Gaming Industry Booming Quickly

Filed under: Casino — Tags: — OCE News @ 2:48 am

In recent years, Singapore has managed to become one of the largest centers of gambling in the world. A number of different resorts have popped up in recent years, most notably the Sheldon Adelson funded resort, the Marina Bay Sands. The property is owned by the Las Vegas Sands company, and is the most impressive casino within the area. It contains three different 57 story towers, including a sky Park on each of the towers with swimming pools, restaurants, and other entertainment. The three observation points created by the towers have become a staple in the community, helping the area to become an economic hub in the gaming industry.

As of right now, there are currently only two different casinos located in Singapore. In 2004, the government of Singapore approved the first casinos in the area, granting only to integrated resorts, which I federal approval. There were a number of other stipulations that were made by the Singapore government when the casinos opened up including the fact that they must contain various forms of entertainment, have many different retail stores available for shopping, a convention space to attract business meetings, cultural exhibits to promote the culture, and of course the casinos themselves.

The Las Vegas Sands Casino began construction, focusing mostly on the facilities that they were providing. The other company that had thrown its name into the ring, the Genting company, was focusing more upon creating a family-friendly environment. The Genting company would go on to name their resort Resorts World Sentosa, which contain six different hotels within the complex. The hotels are designed to serve a wide range of different sought after environments, including higher-end hotels, and lower end hotel rooms.

The resort is also home to Universal Studios theme park, and a Marine life Park that is comparable to see world. It has been called the world’s largest oceanarium, which help to facilitate the family-friendly environment. As you will find in many of the casinos throughout Asia, the gaming floor at the Resorts World casno is mostly filled with table games, which are a popular gaming option in many aging countries. The most popular game found in the casinos Bacharach. There are number of different Asian games that are not normally seen in American casinos, and it will be interesting to see if the area continues to gain popularity as a tourist destination, even though it is not a typical western style casino.

Although Singapore has essentially become one of the largest gaming destinations in the world, it is populated by only two different government-backed casinos. Each of them provides a very different environment, with the Las Vegas Sands company providing an environment that is more typical of Western-style casinos, while Resorts World provides an environment that is much more family-friendly overall, making it a popular option for tourists looking to take a family vacation. It will be interesting to see how the casinos continue to perform in the future, and what types of issues they run into moving forward.

March 30, 2013

Old Stardust to Become Asian Themed Mega Resort

Filed under: Casino — Tags: , — OCE News @ 2:36 am

Genting has announced that they will be launching a one million-dollar mega-resort, located on the site of the old Stardust in Las Vegas. Although the gambling industry took a huge hit during the financial crisis of 2008, they have been slowly crawling back to fiscal viability throughout Las Vegas. Now, with the company announcing the new mega-resort, and he has been up for other developments located on the strip. The old Stardust, located in northern Las Vegas, shut down after years of financial issues.

The company announced that it is planning on spending anywhere between $2 billion and $7 billion, in order to build a 3500 hotel room resort, that will have an Asian theme. The land had previously been sought after by Boyd gaming, who were planning on launching their Echelon product on the same ground.

There are many analyst that have worried as to whether or not southern Nevada has recovered enough from the 2008 financial collapse to warrant such a big investment on the strip. The new mega-resort could cannibalize the high-end market, and shut down some of the smaller casinos located in the general area. However, it is seen is a good thing by most of the northern strip, which has not fully recovered from the 2008 financial collapse.

However, most analysts oh state that the mega-resort would be a big boost for the economic landscape not only in Las Vegas, but in Nevada as a whole. It is estimated that Asian, and Asian-American visitors make up anywhere between two and 3% of the total tourist traffic in Las Vegas from 2007 through 2011. This gives them a good target market to go after with the new Asian themed mega-resort, while still making it appealing to the broader market. Will be interesting to see what kind of revenue the mega-resort is able to generate during its first few years of operation, as construction will still be ongoing one adores her first open.

The company is still taking on estimates from various developers, for a wide range of different projects within the mega-resort. It is expected that the company will be hiring several firms that have worked on other casinos for renovations in the past, and delivered high-powered results. Presentation is everything Las Vegas, and the choice of developer is a very important consideration for every company.

There has been much debate about what to do with the land that the Stardust used to stand on. With no chance of the Stardust returning, multiple companies put in bids for the land, and ownership of land has been passed around on several occasions. However, since 2008, no one has been willing to pull the trigger on developing the large, costly piece of land. However, Genting a step to the plate, agreeing to invest as much is $7 billion if everything goes to plan. It remains to be seen whether the new mega-resort be the economic boost that Las Vegas has been hoping for, or whether it will turn into another failed project on the Las Vegas strip.

March 24, 2013

New Jersey Sports Gambling Because Much Less Likely

Filed under: Casino — Tags: , — OCE News @ 2:33 am

New Jersey has made it no secret that they are looking to get deeper into the gambling industry in order to increase the amount of tax revenue that they are able to bring in. It was recently ruled that the 21-year-old law that prohibited sports betting in all but four states were not completely legal. As the state look to become one of the for states to adopt what is a multibillion dollar industry, there were shut down and the Supreme Court.

The ruling was originally published on late Thursday, and is the second time that New Jersey failed in their lawsuit in order to establish themselves as a sports betting state. They are looking to allow betting at four major professional sports leagues, as well as the NCAA. The state is Heather claims denied in the past as well. It will be interesting to see if any changes are made to the legislation, before they attempt to pass it once again in order to give it a better shot of being accepted.

Gov. Chris Christie responded to the ruling of the judge, saying that he believed that the principles on their position on sports betting and the federal ban is illegal one. It is not expected that the ruling by the judge will be the last time that this is brought up within the state, as the state.to continue to fight for their right to have sports betting legal within the state. For many, the ruling was a huge display meant. To allow sports betting would bring in millions in potential revenue for the state, allowing them to you better recover from the recent tragic storms that have fallen over the area. The first New Jersey sports betting referendum was passed in 2011. It is clear that the citizens of New Jersey are behind me expansion of betting within the state, both in online poker, as well is in sports betting, should the right legislation make it to a judge.

Betting would be open for the NFL, NBA, NHL, major league baseball, and all sports played in the NCAA. A number of other states have attempted to legalize sports betting as well, only to be shut down in the Superior Court before became legal. It is clear that many states see a huge surge in revenue possible from beginning to accept sports betting, and running it as a state function.

It will be interesting to see whether not in the future, sports betting is allowed in New Jersey. As the state continues to push through new legislation, it becomes clear that they are uninjured in their fight to get the legislation that they believe is legal, passed through the upper courts. Each year, billions of dollars are better legally in the state of Nevada, and New Jersey has been slowly but surely attempting to become the next eight to be a gambling hub within the United States. Although they are known for their gambling, it is clear that the state would like to take their operations online, and also towards sports betting, as sports are quite popular throughout the state and would likely generate a large amount of revenue

December 23, 2012

Colliers Gaming Group Analysts See Bright Future For Strip Revenue

Filed under: Casino — Tags: , — OCE News @ 3:06 am

Colliers Gaming Group is a gambling analysis group that is known for accurately predicting the trends of the Las Vegas area. The company recently stated that they believed that $1.5 billion will be invested in the Las Vegas gaming market over the course of the next two years, allowing for strip revenue to continue to grow at a fast pace. The prediction specifically came from Mike Mixer, the head of a new national gaming group that was established last summer by Colliers International. The firm is known throughout the Las Vegas area as being a major company in the hotel, office, and retail sectors. Now, the company is looking to add gaming to that list, and get into the gaming industry as well.

The team includes executives that have been in the area for a long time, including executives Josh Smith, and Gabe Telles, both of whom work for competitor CBRE before coming over to the company. The investments that they are currently anticipating include the sale of a few new casinos as well as construction that will be fired for the updates, the renovation of the Sahara hotel and casino, which is being heavily invested into and renovated on its way to becoming the SLS Las Vegas.

Other huge investments in the coming years will be the transformation of the Imperial Palace, in the Quad, Caesar’s investment into the Linq entertainment promenade at the Flamingo, and the redevelopment of Bill’s Gamblin’ Hall.

With many of the largest casinos throughout the strip and Las Vegas areas seeing a huge increase in revenue this year over previous years, it is no surprise to see predictions of huge money flowing into the region in the coming months. Also, a number of companies that have been previously unable to sell during the downturn in economic times, have found new buyers were willing to invest in the properties. It will be interesting to see if the totals reached the number that was predicted by Mixer, whose predictions are much higher than some of the other analysts in the area. While most are predicting that huge amounts of money will be flowing into the region now that casinos and resorts in the area have once again become profitable for the first time since 2008, not many are willing to go as far as the $1.5 billion estimate that Mixer handed down.

When asked about why his prediction was so bold, Mixer stated that ” The light switch was off in 2009 and 2010. As our visitor volume has rebounded to peak levels or near-peak levels, it’s a strong catalyst that begins the discussion. Seeing our occupancy level at a number that’s the highest in the nation with 151,000 rooms, that’s impressive.”

It is clear that sources of investment from around the United States are once again becoming interested in investing in Las Vegas area properties. In 2008 and 2009, the area saw far less dollars from tourism, the main attraction the Las Vegas. These types of estimations from large, well-known companies have helped to show that the area is beginning their true recovery. Although Nevada still sees foreclosure rates and unemployment rates higher than the rest of the nation, a turnaround in the health of the casinos could greatly help the company.

December 17, 2012

Bill’s Gamblin’ Hall To Close For One Year For Renovations

Filed under: Casino — Tags: — OCE News @ 2:57 am

Bill’s Gamblin’ Hall has been a staple of the Las Vegas strip since it was first opened. However, it was recently announced that it will close down on February 4 for renovation, and will be renovated into a boutique property that is expected to open in early 2014. You now spent was made by the owner of the Caesars Entertainment Corp., the company that owns the property. The company had lined up as much as $185 million in financing in order to renovate the property. The property currently has 199 rooms available for rent, and is a lifestyle gaming hotel and casino that features a 65,000 ft.rooftop pool, and also functions as a day club and nightclub.

The excitement around the funding that they were able to receive was apparent throughout the announcement. The newly renovated property will utilize the services of the Victor Drai’s Drai Management Group, a popular nightclub management group that has been involved in some of the largest nightclubs throughout the Las Vegas area. Details released include that the property will be closing down on February 4, and a projection that the property will be able to employ more than 1000 people in total. In all, the renovations are going to include the remodeling of all of the guest rooms in the building, the casino floor will receive a revamping and many new additions, and many of the common areas such as the second-floor restaurant are going to be receiving a complete renovation throughout the process.

“This project exemplifies our strategy to develop new experiences that will help attract a broader spectrum of visitors to Las Vegas and our properties,” Caesars CEO Gary Loveman said in a statement. “The renovated property will provide visitors with a sophisticated, upscale experience, including a unique rooftop pool and club, which will have a panoramic view of the Las Vegas Strip.”

Currently, there are about 600 people that are employed at the property. The company also announced that they are helping the 600 people that are currently working at the property to find alternate employment during the closure. They have filled positions at other resorts within Las Vegas, and have more than 10,000 open positions nationwide, meaning that they should be able to accommodate all 600 employees from Bill’s Gamblin’ Hall during the year-long closure. They are also reaching out to neighboring resorts in Las Vegas to see if they have positions for experienced individuals that are open. Also, when the property reopens, all previous employees will be invited to apply for a variety of different jobs that will be available at that time.

The analysts at Standard and Poor’s responded to the news of the renovation project by stating that while there were some risks involved as there is with almost any development project, this particular project has many advantages including the location and plans by Caesar’s to included in its national rewards customer loyalty program, which allows the company to attract visitors that are interested in growing the rewards that they receive through the customer loyalty program that is been so effective for the company since being implemented.

« Newer Posts — Older Posts »

Powered by WordPress