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Gambling in the USA

Las Vegas Sands wants to open new casino in Brazil

Niji Ng

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Photo credits: www.sands.com
Reading Time: 2 minutes

Sheldon Adelson, the CEO of Las Vegas Sands (LVS), has expressed the company’s wish to start a new casino in Brazil. He travelled to the country this past week with plans to build an integrated resort (IR).

Adelson visited Brazil’s most populated city, Sao Paulo, where he was asked by a local media outlet about his purpose in the country. Adelson, who has an estimated net worth of about $40 million, replied that he was considering “investing in one or more integrated resorts.” The visit followed one made by the casino mogul to Rio De Janeiro in May of last year. During that visit, he met with Brazilian President Michel Temer to discuss the possibility of constructing an $8-billion IR in the country.

Adelson faces an uphill battle. Gambling has been illegal in the country since 1941, but there have been recent pushes to change legislation in favour of allowing casinos. Proponents argue that the casinos will provide much-needed revenue to the country, giving it the ability to pay down its growing debt. There are two bills currently being reviewed by legislators on different levels, but passage of any gambling laws would not come immediately.

According to Forbes Magazine, the 84-year-old Adelson is ranked 21 on the list of the world’s billionaires. He continues to expand his empire, and does not show any signs of stopping.

LVS owns five casinos in Macau, as well as its property in Las Vegas and the Marina Bay Sands in Singapore. The majority of its revenue comes from the operations outside of the US. Last year, 90 per cent of the company’s total pre-EBITDA (earnings before interest, taxes, depreciation and amortisation) earnings came from the overseas operations.

LVS is currently investing $1.1 billion in a major renovation project at its Cotai Central resort in Macau. Adelson has repeatedly said that there is still a lot of opportunity in the market due to its continued growth and additional expansion in the area is not off the plate.

In its first-quarter filing for 2018, LVS reported a 16.7 per cent increase in revenue. The first three months of the year brought in $3.58 billion for the company, up from $3.11 billion during the same period last year. Its earnings before EBITDA climbed 30.7 per cent to $1.5 billion.

 

 

Source: CalvinAyre

Niji has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. Besides reporting industry headlines from all around the globe, Niji is also head of the content management team at Impressions Content Management, based in Kerala, India, which offers writing and editing services to clients around the world.

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Gambling in the USA

AGA Releases New Research On Economic Impact Of Gaming Industry

George Miller

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AGA Releases New Research On Economic Impact Of Gaming Industry
Image Credit: AGA
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Report shows 9.5 percent increase in economic output; industry now supports 1.8 million jobs nationwide

 

The American Gaming Association (AGA) released a new study examining the striking impact the gaming industry has on the U.S. economy – providing stable jobs to nearly two million Americans and generating billions of dollars in tax revenue. This is the first comprehensive report on the gaming industry’s national economic impact since 2014.

Oxford Economics’ 2018 study found that the U.S. gaming industry:

  • Contributes $261 billion to the U.S. economy, a 9.5 percent increase since 2014;
  • Supports nearly 1.8 million jobs, up from 1.7 million jobs in 2014; and
  • Generates $40.8 billion in tax revenues to federal, state and local governments.

“Gaming companies across the country are enabling long-lasting careers for their employees and making a huge impact on their communities through innovative partnerships with local nonprofits, volunteerism and the generation of revenue that supports critical services. The industry’s tax revenue alone provides enough funding to hire 692,000 new teachers,” said Sara Slane, senior vice president of public affairs for the American Gaming Association. “Since our last study in 2014, casino gaming has expanded into new markets, offered innovative new entertainment options and enhanced its position as a key contributor to local, state and federal economies.”

The research was commissioned by AGA and conducted by Oxford Economics. More information about the study can be viewed here.

About AGA: 

The American Gaming Association is the premier national trade group representing the $261 billion U.S. casino industry, which supports 1.8 million jobs nationwide. AGA members include commercial and tribal casino operators, gaming suppliers and other entities affiliated with the gaming industry. It is the mission of the AGA to achieve sound policies and regulations consistent with casino gaming’s modern appeal and vast economic contributions.

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Compliance Updates

DC Council member introduces sports betting bill

Niji Ng

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DC Council member introduces sports betting bill
Photo Credit: John Locher/AP
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In a significant development in the US state of District of Columbia (DC), a council member Jack Evans has introduced the Sports Wagering Lottery Amendment Act of 2018 in the council. The bill is aimed at legalising sports betting in the state. Evans presented the bill during the Council of the District of Columbia’s regularly scheduled Committee of the Whole meeting.

The US Supreme Court lifted the federal ban on sports betting on May, when it struck down the PASPA Act that prohibited states from regulation the gambling modality. Since then a number of states have decided to take a step forward and act on the growing industry, and as close states such as Delaware, West Virginia and New Jersey have already legalised sports betting, the country’s capital does not want to be left behind.

The Council member’s office said that it has worked closely with the District’s Lottery in order to craft the legislation that would regulate and maximise the revenue made in the state. The bill establishes that residents and visitors would be able to bet both online and in person, and the Lottery would have more authority to ensure the integrity of the system.

“Today, we take the first steps towards capturing this exciting new stream of revenue, instead of watching District resident dollars fill the coffers of other jurisdictions,” said Councilmember Evans. “The District of Columbia will be the leader in a fast-growing industry. The city should take advantage of our ability to act before the Maryland or Virginia legislatures to create a thriving sports betting market, which will attract consumers to the District and generate revenue for District residents.”

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Gambling in the USA

IGT’s Blake Shelton Video Slots to Make World Debut At Seminole Hard Rock Hotel & Casino Tampa

George Miller

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IGT's Blake Shelton Video Slots to Make World Debut At Seminole Hard Rock Hotel & Casino Tampa
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Seminole Hard Rock Hotel & Casino Tampa will be the first casino in the world to receive IGT’s Blake Shelton Video Slot machines.

The machines will be available for use beginning Tuesday, September 25, in the art deco-inspired Mezzanine Level Casino.

To celebrate the arrival of the new slots, the property will be holding a contest where 10 lucky guests will win $500 each to play on one of the four machines. Contestants can enter online from September 20 to September 24.

The new video slots were created by IGT to feature Country Music Association’s “Entertainer of the Year,” five-time Male Vocalist of the Year winner and seven-time GRAMMY nominee, Blake Shelton. He’s known for his success in country music and his role as a coach on the Emmy Award-winning television show “The Voice.”

The Blake Shelton Video Slots is a low-denomination, 40 pay-line game and features a 375-credit maximum bet. The game offers a jukebox that includes many of Shelton’s 25 number one radio singles and other favorites.

There are a handful of bonuses that the game offers including the “Light up the Night” free games bonus, “I’ll be your Honey Bee” bonus and the “BS’ers” bonus, which offers players the chance to win a jackpot along with an official Blake Shelton autographed guitar.

All usage of Blake Shelton’s name, image and likeness is under permission from Ten Point Ventures, Inc. All rights reserved.

 

Source: Seminole Hard Rock Hotel & Casino Tampa

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