Месяц: Январь 2015

Cazinos

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Cazinos

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Our players always enjoy the best games and biggest jackpots in a gaming environment that constantly exceeds all expectations. We launched Cazinos in 2001 and have developed a strong reputation as one of the most popular online Cazinos in existence.

With players from all major regions around the globe including Europe, Asia, Australasia and the Americas. Cazinos brand is internationally recognised and instantly synonymous with quality gaming. With an average payout ratio of 97%, as well as a selection of over 450 online casino games, including casino classics such Blackjack (of which we have over 30 varieties), Craps, online Slots, Baccarat, Video Poker and Roulette we have something for everyone. Spin Palace Cazinos has one of the most comprehensive collections of online slots in the world and offers over 250 games including all of the latest releases from Microgaming. Try our innovative Video Feature Slots, our Progressive Jackpot Slots (which offer multi-million Dollar Jackpots) or our classic 3-Reel slots for the ultimate in online gaming pleasure.
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Casinoz

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Casinoz

Michigan's casino gaming industry generated $2.8 billion in economic impact and created more than 17,000 direct and spin-off jobs in 2013, a new industry-financed study has found.

Done by Oxford Economics and paid for by the American Gaming Association, the study titled "Impacts of the Commercial Gaming Industry in Michigan" looked at Michigan's gaming industry for that year.

That $2.8 billion included nearly $897 million in total labor income, supporting more than 17,000 total jobs. Without those jobs, Michigan's unemployment rate would rise by about 1 percentage point, the study said. Michigan's jobless rate stood at 6.7% in November.

"The commercial casino industry in Michigan supports approximately one out of every 239 jobs statewide," the report said.

"This study shows that gaming is driving big results in Michigan," said Geoff Freeman, president and CEO of the American Gaming Association. "However, given increased competition and changing consumer demands, our future success depends on strong partnerships with policymakers that allow us to innovate, reinvest and create more jobs."

dfp casinoz impact (7).JPG
MGM Grand Casino and Hotel in Detroit, photographed on Wednesday, Dec. 18, 2013. Casino revenues are down this year. Kimberly P. Mitchell/Detroit Free Press(Photo: Detroit Free Press)
The commercial gaming industry generated about $730 million in total tax revenues in 2013, the study found. Of that, the industry generated about $306 million in gaming taxes in 2013 that supported municipal services. The balance of the $730 million was in the form of various sales taxes, income taxes, and so forth.

Michigan is home to 26 casinoz. That includes three state-regulated casinoz in Detroit — MGM Grand Detroit, MotorCity Casino and Greektown Casino-Hotel — and 23 tribal casinoz owned by Indian tribes.

The Native American tribal casinoz have resulted from state gaming compacts signed with individual tribes. Some of the compacts date to 1993, while others are more recent.

The three casinoz in Detroit stem from a November 1996 vote in which Michigan voters approved Proposal E, authorizing three licensed casinoz to be built in Detroit. Proposal E was later revised and signed into law as the Michigan Gaming Control & Revenue Act.

Through November, the three Detroit casinoz reported total revenue of more than $1.2 billion for the first 11 months of 2014, generating state wagering taxes of $98.3 million.

dfp casinoz impact (3).JPG
People play the slot machines at Greektown Casino Hotel in Detroit on Friday, Dec. 20, 2013. The casino is located in downtown Detroit's historic Greektown Entertainment District and features 2,850 slot machines. Kimberly P. Mitchell/Detroit Free Press(Photo: Detroit Free Press)
Casino tax revenues have become an essential part of the City of Detroit's fiscal planning in recent years.

Cazino

 

The key defender of Sri Lanka's controversial cazino policy has quit the government and will support the opposition presidential candidate, despite his promise to end tax holidays for gambling.

Faizer Mustapha, a president's counsel and deputy minister of investment, switched allegiance before next week's presidential election in which Maithripala Sirisena is challenging the incumbent Mahinda Rajapakse.

Mr Sirisena, who himself defected last month to take on Mr Rajapakse, has vowed to withdraw generous tax concessions granted to foreign-funded cazinos.

Mr Mustapha has been a strong proponent of three mega "integrated resorts cazino" - a government euphemism for plush cazinos - and has been the public face of Mr Rajapakse's controversial policy both in and outside parliament.

"When I was in the government I supported integrated resorts, but now that I want Mr Sirisena to be the president, I will abide by his policies [against gambling]," Mr Mustapha told reporters.

His defection brought to 24 the number of ruling party lawmakers who have joined the opposition to Mr Rajapakse, South Asia's longest serving leader.

Mr Rajapakse called the election two years ahead of schedule before his popularity waned further, after his party suffered a 21-point decline in September local polls.

Parties representing Tamils, the country's largest minority ethnic community, as well as the group representing Muslims, the second largest minority, announced support for Mr Sirisena.

He has also secured the support of the main political party of Buddhists monks.

After crushing Tamil guerrillas and ending a 37-year separatist war in May 2009, Mr Rajapakse abolished the two-term limit on the presidency, tightened his grip on the police, the judiciary and the civil service and also legalised cazinos and other forms of gambling.

Sri Lanka's influential Buddhist clergy had opposed cazinos, including one with investment from Australia's gambling mogul James Packer.

None of the proposed gambling resorts have opened in Colombo yet, but several local cazinos have been in operation for decades, exploiting legal loopholes.

Casio

Dual-listed Casio operator Melco Crown Entertainment Ltd. Friday applied to delist from the Hong Kong Stock Exchange just three years after listing its shares in the Chinese financial hub, citing limited fundraising opportunities and onerous compliance obligations and costs.

The gambling company, which operates Casios in Macau and a newly opened property in the Philippine capital of Manila, said it would maintain its primary listing of American Depositary Shares on the Nasdaq, where Melco Crown has been listed since December 2006.

The news comes after a disastrous year for Casio stocks caused by a sharp downturn in Macau, the world’s largest gambling market, as China’s corruption crackdown scared off highrollers. Shares of Macau’s six licensed Casio operators fell an average 40% in 2014 as Macau experienced its first recorded annual decline in gambling revenue—a 2.6% drop after a decade of booming growth.

Las Vegas Sands Corp. unit Sands China Ltd. and Galaxy Entertainment Group Ltd. —the only two Casio stocks that are part of Hong Kong’s blue-chip Hang Seng Index—were two of the three worst-performing stocks on the index last year, weighing down the entire market. Both listed Melco Crown entities fell about 35% in 2014.

By contrast, in 2013, when Macau gambling revenue rose 19%, the share prices of Nasdaq-listed Melco Crown, as well as Hong Kong-listed MGM China Holdings Ltd. and Galaxy, all more than doubled.

ENLARGE
Melco Crown—which has as its co-chairmen Lawrence Ho, son of Macau gambling mogul Stanley Ho , and James Packer , son of the late Australian Casio-and-media magnate Kerry Packer—said in a statement to the exchange late Friday that it wanted to leave the market because “appropriate opportunities to raise additional equity in Hong Kong have not arisen, and the volume of trading in the shares on the stock exchange remains very limited.”

It added that “maintaining the listing of the shares on the stock exchange requires additional ongoing regulatory compliance obligations and such requirements involve significant additional costs and administrative burden.” A spokeswoman for Melco Crown declined to comment beyond the announcement.

CLSA analyst Aaron Fischer told The Wall Street Journal that the delisting plan made business sense. “I don’t think there is any point having an extra listing if that stock doesn’t trade due to limited investor demand, and therefore it’s not worth incurring the costs of the listing,” he said, adding that he didn’t believe there were any other reasons behind the company’s decision to leave the Hong Kong market.

According to data on exchange operator Hong Kong Exchanges & Clearing Ltd. ’s website, the average daily trading volume of the Hong Kong-listed Melco Crown for the past three months was 34,000. On Nasdaq, Melco Crown’s average daily trading volume over the past 50 days was 3.88 million, according to the U.S. exchange’s website.

A spokeswoman for HKEx said that while she wouldn't comment on individual companies’ business decisions, “we trust our market is attractive to issuers due to its liquidity and competitive in terms of compliance cost.” She said that the total funds raised from new issues and issues in Hong Kong’s secondary market reached $935.8 billion Hong Kong dollars (US$120.6 billion) in 2014, a record high. In 2014, Hong Kong also set a record with 96 main board listings, she said.

Melco Crown said in its statement that shareholders would have two options after the proposed delisting: continuing to hold the delisted shares or holding their interest in the form of the Nasdaq-listed ADS. The company said the timing of the proposed listing, which would require the approval of shareholders and the Hong Kong Stock Exchange, was unclear.