Online Casino News From Around the Globe

PokerStars Look To Enter New York Online Gambling After NJ Rejection

The rejection of the world’s largest online poker company PokerStars by New Jersey was a serious blow to this formidable giant. At the time many speculated that due to their “sultry past” they may encounter problems in other U.S. states considering legalizing online gambling. With over 50 million registered users worldwide PokerStars are not to be taken lightly and where one door closes PokerStars will attempt to break down another. An article in reported on some fascinating behind the scenes lobbying. Jimmy Vielkind reports that a lobbyist with connections to PokerStars met with a senior official from Gov. Andre Cuomo’s administration in November. As we reported New Yorkers voted in favor of adding seven casinos to the existing state run casinos. The story goes that Cuomo’s chief advisor on gambling matters told the lobbyist from PokerStars’ parent group Rational Group Stuart Shorenstein that it was that it was “a good time for an open architecture.” The logic of Rational Group is to ride on the momentum of gambling expansion by incorporating the online element at the same time. It remains to be seen if this bold move will bear fruits or further enrage legislators who like in New Jersey are wary of the founder Isai Scheinberg’s illicit past and uncertain future. It will be hard for supporters of this proposal to ignore the moral issues raised as what applies in New Jersey surely applies to other states. Whatever the outcome is one cannot but be impressed with the brazenness of this bold...

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Sheldon Adelson Looking For Investments After Withdrawl From Spain

Gambling friendly countries and locations like the Philippines are exactly what gambling moguls like Sheldon Adelson look for when deciding where to invest their billions. We recently reported that Spain lost out to a $30 billion investment from Adelson due to their unwillingness to go the extra mile needed when looking to attract global gambling investors. The Spanish government reportedly refused to give guarantees that taxes would not change by future governments and even were unwilling to lift a ban on smoking in casinos. This short sightedness of certain governments is baffling especially in times where tax revenues are hard to come by. With the global economy slowly starting to recover you would think that countries would be clamoring for investors like Adelson. In fact the man himself addressed the issue of expansion at a ceremony in Herzliya Israel where he addressed an audience at the Adelson School of Entrepreneurship. Adelson is looking for alternative spots to invest after abandoning Spain and mentioned areas in Europe and Asia that could be his next target. He was quoted as saying,” I’m looking at a different model of doing Singapore-like or Japan-like or Korea-like individual IRs in individual cities. We will just take the major cities in Europe and see whether or not there is a possibility to pursue that.” In Europe Adelson mentioned places like Milan, Athens, Rome, Barcelona and Madrid which all have extensive tourism infrastructure that includes transportation, hotels and exhibition facilities.In Asia Adelson mentioned that Japan, Korea, Taiwan, Thailand could be examples of locations for investment on the model of integrated...

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Fitch Ratings Optimistic Over Philippine Gambling Market Potential

Gaming companies are always looking for new global hotspots that show potential for growth. Gambling in Asia is huge with Macau of course being the biggest casino location on the globe. There are however smaller countries in South East Asia which are worth following. The global rating agency Fitch Ratings has just released an optimistic projection report on the Philippine gambling market. The projections are impressive as according to Fitch the Philippine gaming market could reach $3.3 billion by 2020 which is more than double the projected $1.45 billion it is set to generate by next year. One of the main reasons for such a positive forecast is the fact that the Philippine government are not clamping down on gambling which is a far cry from many other countries. Other reasons contributing to potential growth are the growing number of integrated resorts in the country as well as tourists. Fitch believe that the Philippines is capable of a growth rate of 4.5 to 5 percent in the next three years which is higher than the 3.3 percent current...

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Ed Miliband Plans Crackdown on FOBTs

British bookmakers could be in for some major changes in 2014. There are two main challenges that could affect their bottom line. The first is that of the planned offshore betting taxes which are set to come into play from late 2014. The second issue is the much talked about planned crackdown on fixed odds betting terminals or FOBT’s as they are commonly known as. By cracking down of British bookmakers using offshore tax havens like Gibraltar the government plans on collecting hundreds of millions of pounds in tax revenues. While many non-gamblers are quick to point put the benefit of additional government revenue which can be poured into social upliftment. There is another side of the coin which has to be considered. Tax havens like Gibraltar who are largely dependent on offshore gambling companies doing business in their backyard may well feel the pinch and there are growing fears of massive job losses if the planned changes come into play. The issue of the FOBT’s is even more interesting to follow as the very Labour government that allowed the proliferation of these machines a decade ago are now calling for tighter controls and limits on what many dub an “epidemic” and even go as far to call the FOBTs the “crack cocaine of gambling”. For anyone not having heard of a FOBT they are capable of taking bets of £100 every 20 seconds and are highly addictive to many. It is worth pointing out that Labour government turned a blind eye to these machines when they were in power ten years ago in order to help British bookmakers deal with the advent of online gambling which was affecting their profits. Labour leader Ed Miliband has now changed his tune and says that the Labour Party wants to empower local councils to control the number of sites a bookmaker can open. Miliband also wants to limit bookmakers to four machines per shop as well as to double the time between bets to 40 seconds. Other measures include pop-up warnings to inform the players how much they have lost. The timing of Labour’s renewed interest in tackling the FOBT issue and gambling in general has got many cynics citing the 2015 upcoming election.  The current government in power has also announced their intention to research the impact of these high-speed machines which many believe are nothing less than mini casinos. A spokesman for the Department of Culture, Media and Sport stated,” We have been crystal clear with the betting industry that if it doesn’t improve player protection measures on fixed-odds betting terminals by March 2014, or provide data to inform...

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Sheldon Adelson Takes Third Place For Top Billionaire Earners In 2013

If you are looking for an indication of just how big gambling is as a global business then one only has to look to Sheldon Adelson. This gambling mogul has made it to the exclusive list of the top earners of 2013.  Only Warren Buffet and Bill Gates earned more in 2013. The Chairman of Las Vegas Sands Corp. made $11.4 billion in 2013 due to his global reach which includes casinos in Las Vegas, Macau and Singapore. As we have reported extensively Macau is currently the largest gambling market on the globe and it is continuing to break all records. To add to Adelson’s reasons to smile is the fact that the share price of his Las Vegas Corp, are at a five-year high which has resulted in Adelson’s net worth being  $35 billion. Adelson had plans to invest $30 billion in Spain with a “Eurovegas” mega casino which would have included multiple casinos and resorts. As we reported Adelson encountered problems which included a ban on smoking. Due to this and other political problems Adelson scrapped his plans. Another shrewd move by Adelson according to Bloomberg was that the mogul managed to save almost $3 billion in U.S. gift stocks by using over 30 trusts. The full list of the top 10 earners for 2013 were: 1.    Warren Buffet 2.    Bill Gates 3.    Sheldon Adelson 4.    Jeff Bezos 5.    Mark Zuckerberg 6.    Masayoshi Son 7.    Sergey Brin 8.    Larry Page 9.    Lui Chee Woo 10.    Carl...

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