Online Casino News From Around the Globe

Ladbrokes Exits More European Markets Due To Legal Issues
Jan04

Ladbrokes Exits More European Markets Due To Legal Issues

The legal status of online gambling in many parts of the globe has led to many operators being forced to withdraw from problematic markets. The UK’s second largest bookmaker Ladbrokes is a good example of this. Last year following a regulatory operational review Ladbrokes withdrew from Hungary, Norway and Switzerland which followed their withdrawal from Canada a month earlier. In a statement Ladbrokes announced that they will be withdrawing from Finland, Romania, Portugal and Russia as there are legal restrictions from UK and European online gambling legislation. This makes it problematic to operate unhindered in these countries. These four countries are all in the process of reviewing their online gambling legislation with countries like Russia seemingly making progress towards broader legalization. Countries like Romania and Portugal are expected to layout their new online gambling regulatory structures this year and Ladbrokes did not rule out the possibility of re-entering these regions when the legal issues are...

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Casino Moguls Lose $100 Billion In Macau Last Year
Jan03

Casino Moguls Lose $100 Billion In Macau Last Year

The full impact on the Macau casino stocks in 2014 is now becoming clearer. It is estimated that of the six Macau casino stocks listed on the Hong Kong exchange, an estimated market value of about $91.6 billion has been lost for the year 2014. As we have reported extensively, Macau has been hit hard in 2014 due largely to the Chinese government’s crackdown on corruption. Some of the richest gambling moguls in the world like Sheldon Adelson, James Packer and Stanley Ho have taken a huge knock in their bank balances. While some only see doom and gloom for Macau in the near future, Sheldon Adelson himself are amongst those who believe the current crisis is just part of the cyclical nature of gambling and Asia as a whole is where the big potential lies for growth. To demonstrate just how much the major casino stocks have fallen, James Packer’s joint venture in Macau with Melco Crown reported a 35 percent drop in the value of the stock. In a survey conducted by Bloomberg, eight analysts believe that gambling revenues in Macau in 2015 will drop anywhere between 9-10 percent with January expected to makeup an eight consecutive month of losses. Some of the “optimistic” forecasts like that if Morgan Stanley analyst Praveen Choudhary predict growth estimates to fall by 4 percent in 2015 which will be followed by a 10 percent rise in revenues the following...

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Macau Gaming Revenues Down 2.6 Percent for 2014
Jan02

Macau Gaming Revenues Down 2.6 Percent for 2014

The final figures are in for the world’s largest gambling hub Macau. According to the Macau Gaming Inspection and Coordination Bureau revenues for 2014 fell by 2.6 percent to reach $44.1 billion. Macau has had a tumultuous 2014 with December making for the seventh consecutive monthly drop in gaming revenues. Analysts forecast that December losses would be between 29-33 percent which turned out to be pretty accurate as the official figure was a 30.4 percent drop for the final month of 2014. The reasons for Macau’s steep drop in revenues is largely blames on China’s massive crackdown on corruption by party officials and government members who in the past made up a huge portion of Macau’s gaming revenues. As we reported Chinese President Xi Jinping has vowed to crackdown on corruption and seek other streams of revenues for Macau. Xi believes that the former Portuguese Colony has become too dependent on gaming alone and needs to diversify in order to sustain long term growth in the region. VIP’s are staying away from gambling in the fear that they will be dealt with by Chinese authorities. As a result Macau’s casinos have lost a combined $58 billion in market value over the last six months alone. To put the size of Macau’s gaming market in perspective, Macau generates more than seven times that of Las Vegas. The big question being asked is when or if the current crackdown on corruption will end and when will we see the high rollers return to the casino...

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