Asian Casino Boom Energized By Huge Economic Growth

Posted by Gambling News | Gambling Industry News,Gambling News | Friday 28 September 2012 6:24 pm

Things are changing rapidly in Asia, in particular in the economic sector. This is no longer one of the poor Global territories, and there is a rising middle class, which means various economic sectors are operating in over-drive. For example – the manufacturing industry in China – is there anything new you have purchased recently that has not been manufactured in China. In response to this, the new middle class Asian resident also demands their fair share of recreation. One of the most popular forms of recreation is gambling.

Therefore, not only the online gambling industry is experiencing a boom. The live gambling industry, in particular in Asia, is booming. Macau offers us a dynamically clear picture of just how rapid economic growth has been. This part of the world has benefitted hugely from the gambling industry, but they are also now taking a closer look at the social impact of gambling as an industry. While there is no gambling per se on Mainland China. Millions of Chinese tourist, save up every penny they can to spend in Macau taking a gamble.

After Macau was monopolised by the Chinese for a period of time (four decades), it has now been opened up to the rest of the world to develop this booming business, although there are moratoriums on certain pieces of property. Manila Bay, Macau, is the home to reclaimed land. Yes, they have re-claimed land from the sea to create a home for a $4 billion casino-resort. This will soon rise like the lost land of Atlantis, funded by foreign investors. US companies such as Las Vegas Sands, MGM, and Wynn Resorts have also flocked to this former Portuguese colony.

Foreign investors in the gambling business, are also currently breaking ground in South Korea. There are plans afoot here to hatch a whole clutch of casino-type resorts. Then on the Eastern edge of Russia, a casino resort area has also been planned to provide a catchment for Chinese gambling high-rollers. And when we talk about Chinese high-rollers, we refer to nose-bleed spenders.
Up-scale, glitzy, Las Vegas styled resorts are the name of the game for casino developments catering to the needs of Asian tourists. As they increasingly become more affluent, so to, do their needs change. Gambling is the order of the day, but then so too is a stay in an up-market resort.

Most areas are working on emulating the Macau business principle; understandably so. For every $1 spent in Las Vegas today, $4 is spent in Macau. This makes it the largest casino game marketplace in the world. However, Singapore is catching up rapidly, and a year after the first casinos had opened, they had already raked in about $6 billion.

We all know there is massive amounts of money to be made in the gambling business if it is done in the right way. The Asian market it seems, is doing it in the right way, and Beijing seems to be happy to allow its wealthy togamble their fortunes away.

VN:F [1.9.22_1171]
Rating: 5.0/5 (24 votes cast)
VN:F [1.9.22_1171]
Rating: +24 (from 24 votes)

Republicans Punt Prohibition For Online Gambling

Posted by Gambling News | Gambling Industry News,Gambling News | Monday 17 September 2012 7:30 am

Historically it is a fact that prohibition does not work, in particular prohibition does not work in countries where politics dictate that people supposedly have the freedom of speech, freedom to information, freedom of association, and so on. The USA is a country where its citizens supposedly have these freedoms. In fact they call it "the land of the brave and the home of the free" in their very National Anthem.

Millions of Americans however, still gamble online. They do this at offshore sites and billions of dollars go into the coffers of what could be called unscrupulous websites, although some are quite above board – they are still offshore sites. The Government collects no tax revenue because the industry is not regulated, and the American Citizens who gamble at these sites, do so at even greater risk. In other words, they have very little to fall back on in the form of consumer protection.

Now that state-wide momentum is growing to legalize "intrastate" online gambling, the Presidential elections are also just around the corner, and this is where we get to the prohibition factor. Now that momentum is building in the fight "FOR" online gambling, we get statements in the news from the Republican party that online poker will be banned. This despite the fact that a recent court ruling from a NYC judge had the game declared one of skill.

Unfortunately, progress dictates two steps forward, and occasional steps back, this is the way of the world, and also the human condition. What is even more unfortunate is the fact that because prohibition does not work – millions of Americans will continue to play poker and/or gamble online. And by the same token, this money, which could be generating tax revenue, will still pour out of the country.

It is a well-known fact that the USA is cash-strapped. Every state is short of funding, and instead of looking at innovative ways to stimulate the economy, the Republicans seem to be determined to stand on moral high ground and send the United States even deeper into debt.

Online gambling is a proven money-spinner, and with mobile gambling taking off in popularity like the proverbial rocket-ship; this industry is going to grow from a multi-billion dollar industry; to a multi-multi-billion dollar industry. One of the most dynamic things about the online gambling business, is it has proven to be recession-proof. Not many businesses can boast of that.

While Republicans want to make the Internet ”Family-Friendly”, perhaps they do not realise that the Internet is a Global phenomenon, not just an American convenience that they can manipulate as they see fit. It is up to parents to ensure that their internet access is family friendly, not up to the US Government to decide what family friendly is. The government needs to stick to the bigger issues at hand such reducing the Chinese debt, we hardly think online gambling needs to be banned in the light of this.

VN:F [1.9.22_1171]
Rating: 4.9/5 (18 votes cast)
VN:F [1.9.22_1171]
Rating: +18 (from 18 votes)