Author: Alan

Casinos Are Helping Macau To Meet 5-Year Plan Goals

Casinos Are Helping Macau To Meet 5-Year Plan Goals

The gaming industry of Macau has successfully maintained a “healthy“ development for the period of 2016-2018, according to the so-called “mid-term review” conducted by the local government last Wednesday. It was considered quite a progress when Macau’s first five-year development plan is considered. The central government of China has had many five-year plans intended for the mainland economy ever since the foundation of the Communist Party of China in 1949, but this was something completely new for the governmental system of Macau.

The before-mentioned phrase “healthy development” is typically used by the officials of the Macau government when they think of their casino sector, sometimes in the meaning of the pace of the expansion in Macau’s GGR ( Gross Gaming Revenue).

Five-Year Development plan of Macau was officially announced in September of 2016, and it had a couple of economical and social aspirations for this city. Several targets were completed when the first year of the development plan came to an end. This five-year plan is intended from 2016 to 2020. Limits or targets for casino gross gaming revenue weren’t set. Although the plan did mention a few aspirations regarding the local gaming sector.

Those aspirations were that the gaming sector should probably: strengthen gaming regulations and policies; expand the proportion of the revenue which is non-gaming in comparison to the whole revenue that they generate; they should definitely concentrate on the quality of jobs as well as the employment chances available to the ID holders of Macau at the nearby casino resorts.

As it is written in the mid-term review of the five-year-old Macau plan, the non-gaming revenue of NGR accounted for in the year 2018 is precisely 9.97% of the whole revenue, which was generated by the casino operators of Macau. In the previous year, it was 10.36% of the entire revenue, while in 2016, it was 10.7% of the total revenue.

The figures have definitely exceeded the expectations of the Macau government, as it was stated in the mid-term review. The grand five-year plan has noted that the NGR or the non-gaming revenue accounting for a minimum of 9% of the entire revenue generated by the casino resorts by the revenue of 2020.

Another goal of that plan is to boost casino operators’ acquirements of local services and products as a proportion of their entire spend on outsourced supplies. In the year of 2016, those local supplies were about 58% of that spend; in 2017, the supplies were %62.69 of that spend, and in 2018, they were 65.04%, according to the mid-term review.

In the five-year Macau plan, there was also an objective of reducing to 76% by the year 2020, the proportion of gaming workers in Macau without having higher education as opposed to 80% in 2015. That goal was almost a reality in 2016 when somewhere around 77.8% of the gaming workers in Macau were without higher education. In 2018, it stood at 75.9%. 

Betfred Fined £322k After Customer Deposits £210k of Stolen Money

Betfred Fined £322k After Customer Deposits £210k of Stolen Money

Betfred, an online bookmaker, has agreed to pay £322,000 or approximately $400,000 to settle the allegations.  It has granted a fraudster who has already been convicted for that felony to deposit £210,000 or $261,000 of stolen money on their online platform. That particular customer had lost approximately £140,000 or $216,000 to Betfred when it was gambling for twelve straight days.

An investigation was led by the well-known regulatory company, UKGC, or the UK Gambling Commission, and they have concluded that Betfred has managed to break the anti-money laundering rules when they’ve failed to check the exact source of the funds of the fraudster.

“The management of this particular customer regarding the AML has raised significant worries concerning the effectiveness of the procedures and policies that this online bookmaker had in place, and also it handling of risks in relation to the licensing objectives,” by the words of UKGC. “Ever since this incident, Betfred has made many improvements to its anti-money laundering procedures to prevent these failings from reoccurring.”

The regulator has noted that the Betfred operator made a request twice for SOF, which stands for the source of funds, in the duration of 12 days in November 2017, but still allowed the fraudster to gamble and make a huge six-figure sum loss, even though the reply never came.

The UK Gambling Commission didn’t find the fraudster’s identity, which was quite unfortunate. Although a search in the UK may have found one candidate who fits the entire scenario. This September, Joyce Baker, who was a financial manager at Light Corporation situated in Berkhamsted, Hertfordshire, was sentenced for five years and ten months for fraud when she embezzled over £2,000,000 from her ex-employer at this corporation.

Caesars Entertainment Corp Is Selling Rio For Less Money Than The Valuation From 2017

Caesars Entertainment Corp Is Selling Rio For Less Money Than The Valuation From 2017

Caesars Entertainment will soon sell the Las Vegas Rio for $516 million to a principal in New York called Imperial Companies, which is a real estate investment firm. That selling price for the Rio Casino and Hotel is quite lower than the initial valuation from 2017, which was between $636 and $836 million. That valuation for Caesars was conducted by Moelis & Co. The sale of the Rio Hotel and Casino was a matter of time because it wasn’t a part of the upgrades that Caesars made.

Big chances are that the transaction is going to happen in the fourth quarter of 2019, according to the word of investors from the Deutsche Bank. For the deal to happen, it has to be approved by regulators. This Friday, Imperial has put a substantial amount of money- $5 million in an escrow amount as the first payment for the Las Vegas Rio. The terms are these; the Caesers is going to operate the venue for a minimum of 2 years, and it will also pay $45 million in rent per year. Imperial has an option to pay Caesars Entertainment Corp $7 million in order to make an extension of the lease for one extra year. After, Caesars has an option to either provide types of services or manage the property to Imperial as the venue makes the new-owner transition.

Since the year 2005, the World Series of Poker has taken place at the well-known Rio. That event will have a new location in the Caesars Forum conference center. The worth of that conference center is $375 million, and it has 550 square feet. It will open in the year 2020.

Major news is that the Caesars will likely be bought by Eldorado Resorts Inc, based in Reno, for a whopping $17.3 billion. CEO of Eldorado, Thomas Reeg made a statement that one or even two out of nine Caesars properties are going to be sold, and foreshadowed the sale of Rio. The Ceo of Caesars, Tony Rodio said that with that deal, Caesars will focus its resources towards the newly renovated Strip properties and make some big money out of them. Rodio also said that it’s a great thing that they’ve held the right to be the hosts of the Caesars Rewards Customers and the World Series Of Poker.

Their official homepage: https://www.caesars.com/corporate

Latest Trends in Online Gambling

Latest Trends in Online Gambling

Brief History of Online gambling

Online gambling emerged during the mid 90’s, with the popularization of the internet. Though at first, it wasn’t that popular and not many gamblers played in online casinos, these online gambling houses quickly managed to catch on, and have been growing in popularity ever since. The appeal online casinos draw is in their convenience, flexibility and fast-changing trends. Trends change much quicker in online casinos than in classic land-based ones. In this article, we will go over some of the latest and most popular trends that are currently capturing the online gambling market.

Mobile platforms are slowly taking over

There are more and more gambling mobile apps that allow you to gamble for real money popping up each day. Recent studies have found that an average mobile user spends at least 30 hours per week on their smartphone, either for business or entertainment. With this being the case, it is becoming clear that mobile platforms are slowly being the new go-to option. Casino games developers have also realized this and are concentrating more and more on creating mobile optimized games. Moreover, in 2017 and 2018, there has been a huge spike in popularity for mobile exclusive casino slot games.

Possible changes in legal regulations

Law and taxation have always been a sore spot for online casinos. Many countries have strict laws and very high taxes that essentially prevent any substantial progress for online gambling houses.

In most European countries the laws are relatively friendly towards gamblers and gambling establishments, but in countries like the US online gambling is still frowned upon. In recent years an initiative has been started for a new gambling legislation in the US, and 2018 could be the turning point for online casinos in the US.

Virtual Reality

Virtual reality has always been a utopian dream for many players. With new and well-polished virtual platforms coming out in the last few years, it looks like this dream is well on its way to becoming a reality.

This concept is still in its trial phase for online gambling and does not yet have a general function, but it’s easy to imagine the possibilities such a technology can unlock. It can create a completely new segment of online gambling and bring players an even more immersive gambling experience than ever before.

Summary

Online gambling is constantly evolving and changing, and these were just a few most important trends you should watch out for in the coming year. Besides this, large online markets are also bound to change, as online gambling is becoming more and more popular in countries like Brazil, Germany, Japan and India. Gambling experts are also speculating that online gambling in the US is about to grow significantly under the presidency of Donald Trump, whose advisors initiate a leaner gambling policy. It is certainly a good time to be an online gambler, and we can’t wait to see what new and fresh trends await us in the near future.

How to win real money in Mobile Casinos

How to win real money in Mobile Casinos

Mobile casinos are the most popular thing in online gambling right now. They give you access to live tables, card games and of course slots. They are convenient, easy to use and accessible to anyone. Here are some tips and tricks you can use in order to win money when gambling at an online mobile casino.

What are Mobile Casinos?

A mobile casino works in the same way as a regular online casino, the only difference is that it is created for mobile and tablet devices. There are many different mobile casino types, but we will focus on the two most widespread and popular – app-based mobile casinos, and browser-based mobile casinos. The first ones are downloaded to your mobile or tablet device and are used in every part of the casino’s process- from registering to making a deposit and playing games. The other type of mobile casinos are the browser-based ones. They can be accessed directly from your browser without any additional apps or programs required. Though browser-based mobile casinos offer a much more convenient and faster user interface, they often lack in the visual department, so make sure you know which one you prefer when choosing a mobile casino.

Take Advantage of Exclusive Promotions

The mobile gambling scene is a growing market which features dozens of developers and hundreds of online casinos. All of this business competing against one another has lead to the market being oversaturated with bonus offers and exclusive promotions. There are exclusive promotions, available only to mobile players, and can range from free playing money to free spins at an online slot. Make sure you do your research and find the mobile casino which offers promotions and bonuses that suit you the best. This can significantly boost your gambling experience at the casino and give you a nice playing budget.

Practice on Free Games First

Before you start playing for real money at a mobile casino, you can play the same mobile games, just as demo versions. This will give you the chance to get familiar with the game and get to know the game’s mechanics. This is especially important if you want to play online mobile slots. You can play these free games for as long as you wish, and when you feel confident enough you’ve mastered the game, you can put a deposit, unlock that welcome bonus and start playing with real money.

Play Mobile Casinos Now

According to the most recent research conducted in the US, mobile devices have grown exponentially in the past few years, so much so that they’ve surpassed their desktop counterparts in some areas. This is certainly the case with online gambling, as mobile casinos offer flexible and free gambling options which you can enjoy wherever you want, all you need is a stable internet connection. Mobile casinos are quickly becoming the new normal when it comes to online gambling, and we can only look forward in anticipation of what this trend will bring us next.

How to win while playing in online casinos

How to win while playing in online casinos

Online casinos have become a billion-dollar industry and have taken the interest of many players in the last few years. Here are some of the most useful tips which will increase your success and tip the odds slightly more in your favor when gambling online.

Choose your casino carefully

When choosing the right casino, look at the offer and lineup of its games. Many casinos are heavily themed towards a certain genre or theme. See if the casino’s style and theme suit you and if you could enjoy playing in such a casino. If you don’t find a casino enjoyable, simply move on, there are hundreds of well-established online gambling houses present on the internet.

Besides the gaming aspect of the casino, you should also pay attention to the financial side of it. Look up if the casino has a reputation for offering safe transactions and if it’s fair to the players. Another important aspect of a reliable and trustworthy casino is accreditation by reputable online judicial authorities. The UK Gambling Commission and the Malta Gaming Authority are two of the most reputable gambling authorities.

Find a game that suits your style

There are tens of gambling genres and thousands of different games to choose from online, so you won’t have any trouble finding the right game for you. Like online casinos, online games also vary in rules and strategies. Focus on a game genre that interests you and improve your skill and knowledge of it.

The most popular game genre for online gamblers are the video slot type games. Besides them, there are also table games like online poker and blackjack and roulette-based games. Some casinos also support the option of live play against other gamblers online.

Understand the rules and learn the basics of playing

This is the most important tip and the thing you should always keep in mind when choosing a casino. Read the fine print and all the Terms and Conditions. Rules and terms tend to vary from casino to casino, and you don’t want to forfeit your money because of a small caveat you weren’t aware of. This mostly applies to the transaction and financial aspect of a casino, as well as the wagering requirements and playthroughs you are required to meet before you can cash out any winnings.

Take advantage of the bonuses

Many casinos offer large bonuses and promotions for new players. Watch out for them as well, as they are a great way to increase your starting budget. The bonuses vary from free gambling money to free spins and can be a nice addition to your experience. Besides the initial bonuses, you can also stumble upon cash backs, ongoing promotions and loyalty gifts.

Summary

Remember that no matter how well you know the game or the rules, you can always learn more. These were the most important things you should know and keep in mind while playing at an online gambling house of your choice.

Just keep in mind that the outcomes of casino games are always determined by computer programs that work on a random generator principle. This means that all of your games can’t be influenced by any sequences, be those winning or losing ones. Don’t throw a lot of money at once and know when to stop. Both winning and losing streaks can be over in a second, and you could end up flat broke or filthy rich in a matter of minutes.

Lastly, you are in it for the fun. Enjoy the game and the experience and you will have a good time playing in an online casino

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