{"id":16773,"date":"2015-09-17T10:36:33","date_gmt":"2015-09-17T18:36:33","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=16773"},"modified":"2021-02-26T05:10:26","modified_gmt":"2021-02-26T13:10:26","slug":"asia-land-of-opportunity","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/asia-land-of-opportunity\/","title":{"rendered":"Asia, land of opportunity"},"content":{"rendered":"

Asia<\/strong> “can comfortably absorb” the 30 new casinos that are slated to open between now and 2020, says a CLSA Ltd<\/strong>. report. The region is \"macau-casinos_1\"<\/a>trending toward the bigger-is-better approach, as many of the new casinos are megaresorts that could easily stomp smaller operators. The growth potential could be greater still, but Cambodia<\/strong>, Vietnam<\/strong> and South Korea<\/strong> do not like for their own citizens to be gambling, and the Japan<\/strong> market seems as far from opening as ever, maybe farther, with enabling legislation unlikely to pass before 2017<\/a> at the earliest.<\/p>\n

Unlike the U.S.<\/strong>,\u00a0\u201cAsian countries also tend to limit gaming licences to just a few operators who are willing to build massive integrated resorts,\u201d read the report. The $50 billion currently invested in Asian gaming growth will ramp up to $90 billion in five years. There are 17 projects set to go, six\u00a0in Macao<\/strong> alone and a possible two or more in South Korea<\/strong>. While return on investment in Macao is projected to fall from 34% to 21%, that’s still better than you can make from a U.S. casino, generally speaking.<\/p>\n

* Well, that was a heckuva short honeymoon. Plainridge Park Casino<\/strong> was down 8% as Massachusetts<\/strong> players either stayed home more or gravitated back to old casino habits. The Penn National Gaming<\/strong> racino generated over $15 million in revenue<\/a>, down from July’s $18 million.<\/p>\n

* Online poker gave Delaware<\/strong> racinos a boost last month, up 11% from July for a $31,248 gross. However, it’s a 19% drop from last year. The tracks are having to tough it out after a package of fee cuts and tax credits died in the Legislature<\/a> earlier this summer.<\/p>\n

* A Michigan<\/strong> tribe has won an important skirmish in what looks to be a long war to open a casino in Lansing<\/strong>.\u00a0U.S. District Judge \"Kewadin<\/a>Robert Jonker<\/strong> dismissed a lawsuit by Michigan Attorney General Bill Schuette<\/strong>, who was trying to block the Sault Ste. Marie Band of Chippewa Indians<\/strong> from asking Uncle Sam to put land into trust for them in downtown Lansing. Mayor Virg Bernero<\/strong> sided with the tribe, saying,\u00a0\u201cToday\u2019s ruling reaffirms that right and represents another significant step along the path to success, which will bring thousands of good-paying jobs to Lansing.\u201d<\/p>\n

While evaluating their next move, Schuette and Gov. Rick Snyder<\/strong> \"Snyder\"<\/a>(right<\/em>) shook a fist at the court.\u00a0“We continue to believe that the tribe\u2019s unprecedented efforts to open a casino located hundreds of miles from its reservation is a violation of our mutual Tribal-State Gaming Compact<\/strong>, establishes a dangerous precedent, and poses serious consequences for the state and other Indian tribes within Michigan,” sputtered a gubernatorial spokeswoman. Don’t be deceived by this court victory. The Chippewa casino is far from a sure thing. The tribe must …<\/p>\n