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Updated: 17 min 38 sec ago
Linda Chen, the chief operating officer of Wynn Resorts, said Macau provided an opportunity for the Las Vegas firm to offer amenities beyond the gaming tables. "When we first came to Macau, the scene was more about gaming," Chen said. "And the aspiration for Macau, the reason we wanted to be here, is taking it to the next level." Chen oversaw Wynn Macau's opening in 2006 and the company is now building the multibillion-dollar Wynn Palace. CNN (7/10)
Jorge Godinho, a professor at the University of Macau, pointed out several gaps in gaming regulation in a research paper. Godinho said the practice of "side-betting" or "multiplying" in Macau casinos can lead to lower tax revenue. While side-betting may be unavoidable, he said, efforts should be made to limit the practice. Macau Daily Times (Macau) (7/10)
Casinos have a positive impact on the nation's economy. Commercial casinos:
Generate $37.34 billion in gross gaming revenue;
Inject $8.6 billion in direct taxes to state and local governments; and
Support more than 332,000 jobs.
More information about the impact of commercial casinos across the U.S. -- as well as state-specific data -- can be found in AGA's new fact sheets.
Join the G2E LinkedIn Group to partake in industry group discussions, stay up-to-date with important show news and receive special member benefits!
Angela Merkel, German chancellor
State Sen. Stephen Sweeney said casino expansion in New Jersey could be structured to boost Atlantic City casinos, possibly by setting different tax rates and giving a portion of funds back to Atlantic City. Sweeney has said gaming expansion in the state could be on the November 2015 ballot. "This conversation is going to be had because it has to be had," he said. "If anyone thinks that I'm not committed to Atlantic City, they're crazy." Meanwhile, casino developer Paul Fireman has proposed a casino in Jersey City, N.J., with views of the Manhattan skyline. The Press of Atlantic City (N.J.) (tiered subscription model) (7/8)
Caesars Entertainment said it would consider selling the Showboat Casino in Atlantic City, N.J., instead of shutting it down. "We're willing to sell if we receive a reasonable offer from a responsible buyer," Caesars spokesman Gary Thompson said. The company previously announced plans to close the Showboat on Aug. 31. The Philadelphia Inquirer (7/9)
State lawmakers approved stricter rules governing the use of electronic devices at casinos in Deadwood, S.D., following complaints of possible cheating. The "games protection" package prohibits cellphone use and texting, as well as speaking any language other than English at the tables. The use of headphones to listen to music is permitted. The Rapid City Journal (S.D.) (7/9)
The Oneida Daily Dispatch (N.Y.) (7/8)
The Boston Globe (tiered subscription model) (7/9)
The casino industry could proceed with a full slate of mergers and acquisitions in 2014, experts say, as companies including International Game Technology have put themselves up for sale or are rumored to be in acquisition talks. In 2013, three major acquisitions in the casino industry were completed. Las Vegas Review-Journal (7/9)
Jon Yarbrough, the founder of Video Gaming Technologies, offered advice for up-and-coming entrepreneurs. "I will say I faced failure about six times between starting out of college and the time I got into the Indian gaming market," said Yarbrough, who sold VGT for $1.28 billion to an Australian company. "Never ever give up." American City Business Journals (7/8)
Terry Rich, the CEO of the Iowa Lottery, said mobile gaming is the future of the lottery industry within the next few years. In a radio interview, Rich said he wants to allow customers to purchase lottery tickets on their mobile phones or other devices. WNAX-AM (Yankton, S.D.) (7/8)
Different factions of the Paskenta band of Nomlaki Indians have agreed to settle a dispute through a binding general election. The dispute is partly over the California tribe's casino, which generates $100 million annually in revenue. The election is scheduled for Sept. 13. The Sacramento Bee (Calif.) (free registration) (7/8)
Russia's parliament voted to allow casinos in Sochi, the home of the 2014 Winter Olympics, as a means to recoup some of the $51 billion invested in building venues and infrastructure. Specific locations for casinos will be determined within the next few days. ABC News (7/8)
Pachinko, a hybrid of pinball and slot machines, is a popular pastime in Japan, but pachinko manufacturers face an uncertain future if the country allows casinos, they say. Analysts argue, however, that casinos will simply represent a new -- and large -- market for pachinko companies. Bloomberg (7/9)
G2E 2014 has announced new general sessions with big names from inside and outside the industry, including: Know Your Customer: Behavioral Trends of American Gamblers; Modern Measures: Cybersecurity for the Gaming Industry; and Volume, Velocity, Variety: Conquering Big Data with Big Analytics. More general sessions will be announced soon -- Learn more and register to save with early bird discounts at www.globalgamingexpo.com.
Henry Ford, American industrialist
Kansas gaming representatives will begin accepting bids for new casinos next week, on the heels of the Legislature's recent approval of a lowered investment minimum from $225 million to $50 million. Residents of the state's southeast region are hopeful a casino will come their way. "We have one of the poorest regions of the state already. We need some jobs. This could bring about 300 jobs to the area," said state Rep. Julie Menghini. KSNF-TV/KODE-TV (Joplin, Mo.) (7/7)
Sources say Boston Mayor Martin Walsh and Mohegan Sun have reached a surrounding community agreement over a proposed casino at the Suffolk Downs racetrack in Revere, Mass., that voters approved in February. While numbers have not been released, the deal is reportedly similar to that reached last year when the proposed casino was located in both East Boston and Revere. As part of the agreement, East Boston residents cannot vote on the project as a "host community." MassLive.com (7/8)