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Chairman and CEO Lawrence Ho offered us his perspective on the changes taking place and his views on wider market prospects. At home in our core gaming market of Macau, the flagship integrated resort City of Dreams continues to progress towards the launch of its third phase.
On track for completion in the first half of , the rollout of City of Dreams Phase III will coincide with the opening of its new signature hotel, Morpheus, the world-first free-form exoskeleton high-rise designed by the late Dame Zaha Hadid, DBE. Conceptualized by Melco, this hotel brand exemplifies our mission to deliver an ever-improving and holistic customer offer that spans the entirety of the gaming, entertainment and hospitality space.
Morpheus will add almost new luxury rooms, suites, and villas, on top of new restaurant, retail and entertainment concepts. Together, they capture the increasing non-gaming demands from both gamers and tourists. Meanwhile at Studio City, we will continue upgrading entertainment offers and resort accessibility throughout the year, such as exploring plans for a Phase II expansion.
In particular, mass luxury tourists and the premium mass segment will be its core demographic. Morpheus is more than another building in Macau. An icon for quality, taste and vision, it is an architectural masterpiece and will become a tourist attraction in Macau. We are currently reviewing the development plan and schedule for the remaining land for Studio City.
It is expected that the additional development will include a hotel and related amenities. AGB: How is the Cyprus project progressing? We are developing our first European integrated resort in Cyprus and recently began our year casino gaming license, the first 15 of which are exclusive. City of Dreams Mediterranean will be developed in western Limassol and launched by early A temporary casino will operate. Also, in order to attract conference tourism, City of Dreams Mediterranean will offer 9,sq.
We will do in Japan what we have done since our very first day, what we have delivered in Macau, the Philippines and Cyprus: build with local partners, invest in extraordinary world-first architecture and design, create sophisticated entertainment experiences, and embed stateof-the-art technology into everything we do. Melco delivers better tourists. AGB: How will the opening of the Morpheus hotel help the business?
Melco improves communities, our properties have all-around economic impact immediately and consistently boosts the economy. City of Dreams Mediterranean is a good example, it is expected to attract an additional , tourists a year and will promote Cyprus internationally as a conference destination.
It will also offer around 4, local job opportunities during the construction phase and around 2, permanent jobs once it is fully operational. AGB: What is your view on the outlook for Macau? Rebounding to register consecutive monthly growth throughout , Macau gaming revenues improved in both the VIP and mass market segments, followed by another year of expected robust growth in These developments include the opening of the new Pac On Ferry Terminal, the ongoing development of Hengqin Island, the completion of the Hong Kong-Zhuhai-Macau Bridge, the build-out of the Cotai Strip and the rollout of a light rail transit system throughout Macau.
While VIP gaming registered strong performance over the year, we maintain our long-term thesis that future growth in Macau will be driven by the premium-mass and mass segments. Accordingly, we will continue to invest. AGB: Is the concession renewal process a concern? We listened to the Macau government ten years ago in terms of what they wanted, so I think we want to continue to be good partners and again, continue to do more for our colleagues and do more for the community as well.
The Wynn Palace has 1, hotel rooms and 90 percent of the resort will be non-gaming. Both mass revenue and VIP performed strongly, gaining 36 percent and 20 percent respectively. Representatives from the Gaming Inspection and Coordination Bureau reportedly met with top executives to discuss the situation. Paradise loss narrows, seeks expansion ops. Paradise said the decreased revenue was partly due to the change of cooperation mode at the Casino Macau Jockey Club - which changed from the provision of casino management services to revenue sharing from LMG terminals, which took place on January 1, Paradise also noted a decrease in sales of electronic gaming equipment and systems in the year compared to that of , which saw more flagship property openings.
Regarding its two satellite casinos in the Macau Peninsula, which includes Casino Kam Pek Paradise and Casino Waldo, the group said they maintained stable growth in gaming revenue and provided stable and strong cash inflows to the group. Accept no imitations. Accept no limitations. It features a scale replica of the Eiffel Tower, nearly 13, hotel rooms, two million square feet of retail-mall offerings and two million square feet of MICE capacity.
Total net revenues increased Net income increased Bernstein Research noted the company is optimistic about further growth in the premium sector, which is being driven by more younger players coming from provinces outside Guangdong and higher average spend per customer. Revenue from main floor table games was up 21 percent, helped by a 10 percent increase in volume and a gain in the hold to 21 percent from 19 percent in the same period a year earlier.
VIP revenue fell 5 percent, even though turnover was up 23 percent, as the hold fell to 3. The company said the initial demand and customer feedback to the resort has been positive. Like its main competitors MGM is also actively seeking a license to operate in Japan. HK has three casinos and the Mocha Clubs. In January, the company announced a. The company is now exploring possible Phase 2 expansion for Studio City and has been granted an extension of the development period under the Studio City land concession contract.
HK has three main properties and runs three City Club casinos inside hotels. The property is viewed by analysts as one of the best placed in Macau, having made considerable efforts in recent years to boost its mass market appeal.
The Nikkei Asia Investable Index comprises Asian listed companies, with constituents picked by Nikkei as companies to watch in Asia. The company has been losing market share while it completes construction of its Cotai IR, which most analysts now expect to open in The company has announced that its Chairman Stanley Ho, known as the father of gaming in Macau, will retire to be replaced by his daughter Daisy.
Analysts were sceptical the changes at board level would help the company to regain ground in Macau, where it has been losing market share. It was the first international eSports competition held in Macau, with nine teams of contestants coming from around the world. The company said the opening of the resort has been further delayed and it now expects to receive a Macau Government Tourism Office license somewhere between mid-May and June and to open the property on June 30th.
Gaming consultants woo local governments Four major companies, all of them related to the auditing industry, have been competing to offer gaming-industry consultancy services to Japanese local governments as they take their first steps toward becoming hosts of integrated resorts.
PwC is the main advisor to the Osaka municipal governments. This list could very well change in the next round of bidding as local governments may choose a different partner at different stages of their IR development. The tasks that these consultancies have been hired to perform have related mainly to basic studies about overseas integrated resorts and the global gaming industry in general, and well as conducting the RFI processes on behalf of some of the local governments.
This contract continues through March , by which time the IR consortium should have been selected and, hopefully, a license granted by the central government. Theoretically, consultancy services to local governments in Japan might be offered by companies other than the four major auditing firms. However, there are some distinct reasons why they have jumped out in front. Some of the initial gaming business was funneled to them from overseas due to existing relationships between IR operators and overseas branches of the same auditing firms.
They have leveraged these international connections to market themselves inside Japan. In the United States, for example, market size calculations can depend heavily on potential automobile traffic. Most Japanese public transport stops operating at around midnight. This lack of expertise is compounded by the fact that public employees in local governments tend to circulate to different departments every few years or so.
Talented officials should not be expected to long remain where they are now, but rather to be promoted to unrelated but higher status posts. High turnover Unless unusual steps are taken to rectify this aspect of the typical Japanese bureaucratic culture, most institutional knowledge that local governments may accumulate is likely to be bled away each April 1st as new work assignments are handed out. IR operators have privately grumbled that it is difficult to find useful consultancy in Japan with only four firms in the field.
They have understandable concerns that proprietary information provided to the consultancy companies might end up making it to the desks of competing operators, either because key employees might move to another firm or simply because the gaming consultancy community is presently too small for secrets to be effectively kept. The advertising industry in Japan, with only two big players, Dentsu and Hakuhodo, presents similar concerns for the competing IR operators.
While it is possible for each consulting firm to set up more than one team under its roof to serve their various clients, concern about how high the walls are between these teams is likely to endure so long as so many local governments and IR operators are forced to knock on the same very limited number of doors as they shop for Japanese gaming expertise.
In time, of course, gaming industry consultancy in Japan will move beyond the walls of the four audit-related firms and will become richer and more experienced. Moreover, the players who make such exchanges will have their names, birthdays, and addresses recorded and passed on to the Casino Management Board. This is intended as an AML measure, particularly in light of the fact that Japanese newspapers have already reported that yakuza groups are considering how they might use casino chip-cash exchanges for the purposes of money laundering.
This reporting requirement is said to be similar to regulations in Nevada and Singapore. Seidanren consists of companies and associations with the stated purpose of securing items like clothing, food, and housing that are essential for Japanese to live stable lives. Japan is not an impoverished nation with few resources, so the promotion of tourism should not be based on the same kind of strategies that might be apt for lesser countries, it says. The figures reflected a boost from additional visitors to Winter Olympics, which were held about 30 miles north of Kangwon Land, the only place in the country where locals are permitted to gamble.
The state-owned resort had been widely expected to be a key beneficiary of the games. The number of Chinese visitors continued to decline, with a fall of 3. According to Korea Tourism Organisation figures, the number of Chinese visitors to South Korea plunged by 48 percent in The sector makes up almost a third of its total tourism base.
Much of the optimism that had surrounded the expansion of the casino sector in the country came from the rising tide of tourists from China, for whom the K-pop phenomena and Korean culture hold a strong appeal. Seoul is also just a two-hour flight from Beijing, making it much closer for travellers from Northern China than Macau.
The prospects attracted a flurry of interest from foreign investors, including Caesars Entertainment, the Mohegan Sun, Genting and Landing International. However, an outbreak of Middle Eastern. The installation is composed of a thirty-seat stadium offering two live baccarat games and one automated roulette that provides players the opportunity to play up to three games simultaneously. This multigame configuration creates a great introduction to Interblock ETGs for both new and advanced table games players.
The gaming space is composed of thirty playstations with inch monitors that allow players to wager on up to three games at a time; four LCD displays that show live game play, game history and trends; one live baccarat table equipped with two shoes that deliver two baccarat games; and one automated generator that delivers roulette. Respiratory System in shut down the tourism industry, highlighting the risks of reliance on foreign revenue. The missile spat came just as the operators had begun to rebound.
Genting has since pulled out of its project on the southern island of Jeju, selling to its joint venture partner Landing. Mohegan Sun has pushed back the groundbreaking on its project, also near the airport, to the first half of this year, due to delays in receiving necessary permits.
It was also told to reduce its opening times from 20 hours a day to 18 hours and will now be open from 10 am to 4 am. Government fires illegal Kangwon workers The South Korean government has decided to fire all employees of Kangwon Land who were found to have obtained their jobs through nepotism. Last year, Kangwon Land admitted that between July and February , 95 percent of all staff hired — some people — were selected either for their political connections or because of their personal relationship to former CEO Choi Heung-jip.
The probe into the casino operator, which is the only property in South Korea where locals are allowed to gamble, comes amidst rising frustration at youth unemployment levels. As part of those changes, the central government also announced it would force casinos to collect tax on client winnings, though did a subsequent U-turn on that measure following an outcry from the industry. After listening to representations from operators, the government of the Primorye region, where the Primorye Integrated Entertainment Zone is based, chose to maintain the current tax regime to keep investors happy.
Unlike most other jurisdictions, Russia does not levy tax on gambling revenue, but on each table and machine in operation. Primorye currently charges RUB, per table and RUB7, per slot machine and the relatively low fiscal regime has been a key draw for foreign investors. Two more major gaming and entertainment facilities have begun construction - including Selena, operated by Diamond Fortune Holdings, and Naga Vladivostok, owned by Cambodian gaming company NagaCorp - both set to open in The local government met with investors earlier this year to hear their plans.
Officials are said to be frustrated at the slow pace of expansion in the zone and want to speed up progress. The company charged with developing the zone is also planning to auction off new plots in the near future after suspending efforts to attract further investment last year.
Tigre De Cristal is the only casino in operation in the zone and its performance is improving after a slow start amidst regulatory uncertainty and geopolitical tension. Mass revenue was up just 13 percent. In the past, management has expressed frustration at rampant illegal gambling in the zone, which is syphoning off local clients leaving the IR reliant on the foreign VIP. In our opinion, this will be useful both for the development of the gambling zone and for the social and economic development of the entire region.
We plan that in summer the draft plan of our new entertainment complex. According to previously announced information, the second phase of the project development will include hotel rooms, areas for negotiations, as well as restaurants and bars. Tsifetakis noted that during the second stage of the construction, the expansion of the shopping area is planned, and the possibility of improving the site for sporting events is also being considered. These are the kinds of entertainment that will allow you to relax at Primorye all year round.
In addition, our new Taiwan shareholder plans to create one of the largest shopping centres in the Far East in the seaside gambling zone. The decision to create a large shopping area was influenced not only by potential demand but also by the possibility of introducing a duty-free trade zone in the region, where foreign citizens would be able to get tax relief.
Azov-City closure reprieve? According to Smolentsev, the decree leaves only 34 land lots, of which the Azov-City Development Agency owns Investors have In January , local residents wrote a letter to Russian President Vladimir Putin, asking him to save the zone, which has been scheduled for closure in Jan. Operators form professional association Casino investors in the Primorye gaming zone have decided to create a professional association of gambling companies of the Far East to protect investors and promote the development of tourism, according to the Primorsky Krai Development Corp.
All companies that implement their projects in the resort will become members of the association. Yet, it will hinge growth in the mass market. Instead, the biggest draw betting, according to Morgan Stanley. VIP revenue to increase. With a an alternative revenue stream. Despite the new small local market, Singapore depends more regulatory framework announced in Oct , on foreign visitors, which makes gaming under the AML, proxy betting continues to revenue more volatile. The drop in incoming VIP traffic led to the development of more accommodation options for budget travelers and the rise of non-gaming entertainment.
Despite their woes, the two casino operators were estimated to account for between 1. While the consensus is that the frontrunners are Macau and the Philippines, other countries such as Japan, Australia, South Korea, Cambodia, Singapore and even Thailand may present future competition.
Looking ahead, the future looks rosy. In a statement posted on the Pagcor website, the regulator set out the accreditation process for live dealer studio and production facilities seeking to offer services to the gaming terminals of licensed electronic gaming sites. Pagcor said the license will be known as a Permit to Possess and applies to providers of a studio gaming setup. The memorandum also sets out a variety of other fees connected with the license.
At 44 hectares, the property is by far the biggest in the complex and the rollout of hotels and other facilities is continuing. At its completion of Phase One, Okada will have hotel rooms and operate tables and about 3, slots. The casino floor will have about table games and 3, electronic gaming machines, a 90, square-feet nightclub and beach club entertainment complex.
It will also have an 8, square-meter retail promenade, a world-class spa and 40 restaurants ranging from casual, buffet, and international dining. The Bay Tower of Solaire consists of a casino with an aggregate gaming floor area of approximately 18, square meters including approximately 6, square meters of exclusive VIP gaming areas , with approximately 1, slot machines, gaming tables and 88 electronic table games.
Bay Tower has hotel rooms and 15 specialty restaurants. Contiguous to the existing Solaire Resort and Casino, the Sky tower consists of a all-suite hotel, additional ten VIP gaming salons with 66 gaming tables and slot machines. It also includes a certified 1,seat lyric theatre. The group reported record results for , though its performance in the final quarter was held back by a low hold percentage.
For the full-year. The property is currently in the third phase of its expansion. It will also include new gaming and retail spaces, as well as six basement parking decks. Further down the road, it will open the fourth and final IR planned for Entertainment City, which is scheduled to open in As the first IR in Manila, the company has built up a loyal base of customers, especially in the local mass market.
For , net revenues declined to P Gaming revenues fell to P However, while third quarter results were down as a result of the casino closure, Travellers reported a strong Q4 recovery, with a 5 percent increase in revenues from its non-gaming segment to P4 billion during the year driven by hotel and MICE operations. The project also includes the renovation of the existing Quest Hotel, the two championship golf courses and villas, the reports said. It is a plug and play solution which retrofits to existing tables that does not require changes to layouts, chips, dealer or player behaviour.
It is inconspicuous and cost effective which is easy to install, calibrate and maintain. Ramp up seen as theme parks draw in crowds An increase in visitation is expected to drive gaming business at Resorts World Genting this year, although analysts say the two key attractions in its multi-billion dollar revamp are unlikely to be available until the end of this year. The company expects to invest a total of RMB Genting has operations in the U.
S; Bahamas and Egypt, though gets the bulk of its revenue from its Malaysian operations. In Q4, Resorts World Genting attracted 6. Revenue gained 11 percent in the period to RM2, The brokerage estimates visitation in is likely to hit 25 million, up from The group has been progressively rolling out upgrades since the end of , when it launched its Sky Avenue and Sky Plaza shopping malls.
The first and second floors cater to mass, while third and fourth are reserved for VIP visitors. Tourism Malaysia and Tencent to create digital ecosystem Tourism Malaysia has teamed with Tencent Holdings to create a digital tourism ecosystem in Malaysia aimed at boosting tourism numbers to the Southeast Asian nation. Malaysia Smart Tourism 4. Berjaya revenue driven by auto unit Berjaya Sports Toto, a Malaysian lottery company and car sales dealer, said its Q3 revenue edged up 2.
Overall group revenue came in at RM 1. Revenue at its Sports Toto unit fell 3. Net profit gained Results from the Philippine Gaming Management Corporation were hit by the unfavorable exchange rate between the Philippine peso and Malaysian ringgit. STC initiatives fire up racing prospects Singapore Turf Club, under new leadership, has embarked on a series of initiatives to help racing in the island state return to its glory days, with a focus on on-track product and attracting international talent.
While Asian giants Hong Kong and Japan, with heavily protected pari-mutuel models, have remained immune to the challenges facing racing in other parts of the world — most notably plummeting betting handles and dwindling crowds — Singapore has suffered through more than a decade of decline. Even Korean racing, boosted by a similar system to Japan and thus steadied by a stringent government structure, has built a massive gap in betting figures ahead of Singapore. In , racing in Singapore looked relatively healthy, helped by a champion horse called Rocket Man, a gifted jockey named Joao Moreira and blessed with a modern facility at Kranji.
By Rocket man had retired, Moreira had bolted for greener pastures in Hong Kong and betting numbers were falling at an alarming rate. Meanwhile, the casinos were already among the most profitable in the world. Prize money was down too, plus the number of races and quality of the horse flesh had fallen considerably. Singapore may not enjoy the same advantages as Hong Kong, Japan and Korea, but Twomey believes an improving on-track product and a fresh outlook from incoming leadership can revitalize racing in the Lion City.
A restructure of the racing calendar and system; a boost in prize money at top level to encourage owners to spend more on better horses and, perhaps most importantly, the reintroduction of international racing.
The return of international racing to Kranji is the initiative that has attracted the most attention. Convincing some officials, and in particular owners and trainers, to pay for overseas horses to come to Singapore can be a hard sell — especially when year-after-year the visitors prove far superior to local horses and dominate the races.
Former champion jockey and now trainer Saimee Jumaat was one local to speak up in favour of the reintroduction of the big money events. But there is method to the apparent madness — fewer races can actually equate to more money — with worldwide studies showing that reducing the numbers of races increases the runners per race and that larger field sizes are a key driver of wagering. The survey, which is run every three years, showed that 52 percent of Singaporean residents aged 18 had participated in at least one form of gambling activity last year, up 8 percentage points compared to 44 percent in The increase in gambling participation was attributed to an increase in gambling among the Chinese population as well as players of 4D, Toto and social gambling, said NCPG.
However, the number of calls and web chats to the Problem Gambling Helpline dropped to a five-year low in Kicking sports betting regulation over the finish line With two major events on the doorstep in the sports betting world, we take the chance in the focus section of this edition of Asia Gaming Briefings to examine some key trends in this growing gaming sphere.
Within Russia itself, bookmakers are expecting monthly volumes to be percent higher than usual. Although some changes to the law are in the works, the industry fears they will not be passed in time to capture the World Cup traffic. The U. Supreme Court is scheduled to rule before the end of June in a case that could result in sports betting being legalized for the first time in the U.
Some leading industry figures have postured that the legalization of sports betting in the U. The HKJC is one of the most successful clubs in the world and has been introducing new technology and club-style lounges to increase its appeal. However, even here, the club faces challenges from rising illegal online gambling. And lastly we go to India, where a recent sports betting seminar discussed the possibility of potential legalisation of the giant untapped market.
Illegal gambling there has been rife, coupled with highprofile match-fixing scandals among its revered cricket players. Proponents are arguing that a properly regulated and legal gambling industry would help generate revenue for the government and help to prevent further scandals. Will U. When in the U. Supreme Court accepted to hear the appeal in the Christie v.
National Collegiate Athletic Association case later renamed Murphy v. National Collegiate Athletic Association no one expected New Jersey ever to be allowed to offer sports betting to its residents. In court hearings, New Jersey admitted that its. A possibility no longer remote after the presentation. That, however, is not as practical as indicated eventual sports betting revolution in Asia, by the wishful thinking of industry stakeholders.
The Sociedade de Lotarias e Apostas have the monopoly on all sports betting activities, the illegal market is understood to be many Mutuas de Macau currently accepts bets on football and basketball at a handful of times larger than the regulated market. For a system built around betting on locations as well as via phone and through credit through agent sites, the primary a somewhat old website from players that are within the city limits.
Only a significant shift in about regulation when it has experienced the cultural approach. State-owned Philippine Amusement gambling and to target new demographics. Despite the availability of a regulated betting bookmakers. Elsewhere, Islamic law governs Indonesia is going to stop players from placing their bets with black market operators offering better and Malaysia, strictly prohibiting most types odds on the few selected sports that bettors care of gambling, although the local governments about.
In a similar situation are bettors in Buddhist one passed in Singapore. Thailand, where all forms of sports betting are However in Singapore the state-owned prohibited, except for betting on horse racing. While there is no doubt that a repeal of tote operator, Singapore Pools, has been operating since the late sixties and all it did PASPA will change the US sports betting market in recent years was to extend its offering to forever, industry observers say that it will have a limited effect on sports betting in Asia.
Not a week goes by without a report of igaming industry. More recently, he managed arrests for illegal sports betting in the city-state gambling domains marketplace GamblingInvest. Macau, the other candidate to lead an com and served as Editor at BookmakerList. But the ramifications of such a groundbreaking decision would extend well beyond the US borders, with industry observers believing the radical decision is likely to trigger a domino effect with far-reaching consequences.
Will Asia follow suit? Red tape kicks World Cup prospects Russian bookmakers are hoping for a bonanza from the FIFA World Cup, which will be held in the country less than two months from now, but many fear regulatory hurdles and slow-moving legislation will mean that legal operators will lose out. However the current laws do not.
Amid the ongoing crackdown on illegal online bookmakers, with hundreds if not thousands of websites. However, to do this punters need to go through a complex identification process that is likely to be particularly daunting to foreign players.
As a result it may mean that their money goes to well recognized foreign brands, which mostly do not have any official presence in Russia. Gambling expert Araik Tonyan, who heads the Bookmakers Rating analytical website, estimated the annual turnover of the. According to special research presented by the website in December , the volume of bets during the World Cup will be percent more than the average volume of bets on football a month, but it did not give precise figures.
He also pointed to the complex identification procedure for players and a lack of a clear state strategy for regulating the industry. Under the current system to make a bet, double registration is required, both with the actual bookmaker and with an e-bet processing centre, known as a TSUPIS. Tonyan welcomed a law banning money transfers to illegal bookmakers that will come into force just ahead of the World Cup, but also called for foreigners to be exempt from the requirement for offline identification.
According to gambling lawyer Maria Lepeshchikova, the government has shown little enthusiasm for promoting regulation to benefit the industry. She pointed out at several inconsistencies in the law, which are working against Russian bookmakers. This makes it impossible for Russian bookmakers to operate online only, because they need to set up centres where client identification can take place.
Participants at the Betting Trends Forum said lifting of the double identification process and replacing it with single identification with a TSUPIS only was key obstacle to growth. There is a bill tabled in the Russian parliament that aims to address the issue, but it will only be considered in June, so is unlikely to be in place before the World Cup kicks off on June 14th.
But there are also some initiatives which may help Russian bookmakers if they are properly implemented. For example, a law which forbids banks and paying agents to process and transfer money to illegal bookmakers - both Russian and foreign - is expected to come into force just before the World Cup in late May. Lepeshchikova pointed out that this law may be bypassed by using a third-party websites, however this would increase the price of a transaction.
In January there was a 1. The one in Crimea currently exists only on paper, with local authorities constantly delaying its opening and changing its potential location. Out of all Russian gambling zones, the ones near Sochi, Rostov-on-Don and Kaliningrad — all situated in western Russia — are likely to benefit from the tournament as they are situated relatively close to the stadiums where games will be held.
The zones in the east — Primorye and Siberian Coin — will likely be below the radar of punters as no games will be held there throughout the World Cup. Before the start of the World Cup, it was reported that the Russian oldest gambling zone Azov-City in Krasnodar Region proved to be less popular than its younger competitor, Krasnaya Polyana in Sochi, at the ratio 50, vs 39, visitors.
Yantarnaya is just 30 minutes away from Kaliningrad, where four games will be played. It is said to have attracted 15, punters monthly as of the end of The zone in Sochi has demonstrated steady growth despite initial pessimistic forecasts, having received , clients in , and deputy manager of its only casino Dmitry Anfinogenov expecting this figure to rise by 25 percent in the coming years.
None of the zones observed appears to be offering special events dedicated to the World Cup. Racing to win the millennials Attracting younger demographics has long been the challenge for horse racing and Asian racing clubs are leading the way when it comes to ensuring they corner the hard-to-catch, but much sought after millennial market. It was the sport of kings and jockeys, trainers and horses were household names and crowds crammed into racetracks to watch their heroes and, of course, bet.
Then began a sharp decline in popularity for the sport — at least in the west — with different gambling and entertainment options attracting the attention of Generation X children born in the late sixties and through to the seventies. Asian racing, with its gambling monopolies and structured administration, has been spared much of the damage done in the west but the challenges are still mounting as the internet facilitates the growth of sports betting and other online gaming options.
There is a sense that the generation born between and , known as millennials — or generation Y — would rather bet on football or even eSports. It helps that the iconic Happy Valley Racecourse is situated minutes from downtown Causeway Bay, one of the most heavily populated commercial districts in the world. Happy Valley is now heaving with fans, live bands, cheap beer and a festival atmosphere. It has ensured. Getting the kids to the track is one thing but the Hong Kong Jockey Club has attempted to parlay the presence of youthful faces into betting turnover in a range of ways.
The Korean Racing Authority is restricted in how it can promote the sport, among other serious obstacles, in a country where anti-gambling lobbyists hold considerable sway. At Seoul Racecourse the KRA has not only organized regular appearances from leading K-Pop groups and thrown the gates open for free at times, but provides a space for young couples to enjoy the races away from the smoke-filled public section.
Customers are kept connected with super-fast wi-fi and tablets that are available to rent for free and provide information on the sport. In fact the only way to bet in the NOL Lounge is through. In Japan, the Japan Racing Association has not only targeted younger customers, but made a special effort to attract female fans.
The JRA is also big on educating inexperienced racegoers through the Umabi promotion and. Severe restrictions on signage and advertising mean getting the message out to the general public to raise the profile of the sport is almost impossible. The event, led by Eventus International at the Park Hyatt Goa Resort and Spa, was well attended considering the gaming market is largely in its infancy. As Japan and Brazil have taken the mainstage and much of the attention at other industry events, this India specific event allowed participants to educate themselves about the existing and potential gaming opportunity in the market.
The conference also provided attendees with one of the first opportunities to hear from various experts focused on recent market developments in India. Online, skill-based cash games, including rummy and poker, are currently allowed in several states in India. The legality of these games is primarily due to ambiguous regulatory environments.
However, certain states have taken steps to define regulations. In Telangana, no online, skill based games are allowed. In Maharashtra, the Bombay High Court recently declared that poker is not a game of skill, effectively outlawing online poker in the state. Ranjit Patil, recently stated that the government is planning to introduce new legislation to further address online gaming in the state.
In other states, like West Bengal and Karnataka, poker has been included as a game of skill and operators are vying for the wagers of patrons in those markets today. Sports betting remains illegal in every state, but several stakeholders are working to change that. In an. Nationally, the Law Commission of India has spent the last year and a half reviewing the potential impact of nationwide legalization of betting and gaming in an effort to provide a recommendation to the government.
In response, the Law Commission stated that it has no timeline for the issuance of a recommendation, but some experts expect a response could come this June or July. Even so, stakeholders are wary that a recommendation, let alone a positive one, will actually occur. Regardless, a positive recommendation would still need to be approved and accepted by the government. This move onshore would allow for the first large scale, land-based casinos in India and could provide operators with an opportunity to develop a more attractive product with non-gaming amenities that appeal to the casual gamer and non-gaming patrons.
The policy is still awaiting the approval of the cabinet and legislative assembly. With political uncertainty in the state, it is still unknown as to if and when the casinos will be allowed to relocate onshore. In Daman, Delta Corp. It is still unclear whether Delta Corp. Several other states are currently contemplating.
While the market in India still seems far from presenting large opportunities to major industry stakeholders, existing market movements in India, as well as in other markets like Japan, have created some momentum in the marketplace.
Stakeholders have taken hold of that momentum and have begun to implement strategies to mobilize public opinion. As market developments continue to occur, stakeholder interest will grow due to the immense market opportunity. He can be reached at kszybala globalmarketadvisors. Tiger Palace has its eye firmly on the potential of neighbouring India with its large and rapidly expanding middle class and its high propensity to gamble.
The immediate target market for the resort comprises of the more than 15 million aspirational middle-class Indian citizens living within six hours of travel from the resort, in states including Delhi, Uttar Pradesh, Bihar and West Bengal. Spread over 22 acres of land, Tiger Palace Resort offers guest rooms and suites along with two private villas, offering views of the mountains and forests surrounding the resort.
It also features 2, sqm of live gaming with 44 gaming tables and more electronic gaming machines. It features a spa, gym, meetings and wedding spaces, including a ballroom and an expansive function lawn that can accommodate up to 1, guests. The resort also features a yearold Rana temple. However, recent months have not been.
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Try again. Accept Cookies Customise Cookies. Close Menu. Travelling or based outside United Kingdom? Video availability outside of United Kingdom varies. Sign in to see videos available to you. A seventeen-year-old boy. All he wants is to feel something. One day he pushes his longing to the limit Watch with Filmbox Live Start your 7-day free trial.
By ordering or viewing, you agree to our Terms. Related Details. Customers who watched this item also watched. Unlimited One-Day Delivery and more. There's a problem loading this menu at the moment. Learn more about Amazon Prime. When he was 18 years old, his parents returned to Brazil. Batista remained abroad and began selling insurance policies door-to-door to make his living.
In interviews, he often mentions that the "stress" and the lessons learned from this experience were essential for his education. Batista returned to Brazil in the early s and focused his attention on the gold  and diamond trades. He established himself as a salesman, contacting producers in the Amazon area and buyers in large metropolitan centers in Brazil and Europe.
When he was 23 years old, he started a gold trading firm, called Autram Aurem, using the Inca Sun as the company trademark and symbol. He implemented the first mechanized alluvial gold mining plant in the Amazon, marking the beginning of the EBX Group. Between and , the value of his company more than tripled. Batista married the model Luma de Oliveira in , and divorced her in They had two boys, Olin and Thor.
In the 90s, he was the Brazilian, U. In , he covered the nautical miles between Santos and Rio de Janeiro in 3h01m47s and beat the record for the course in his boat, the Spirit of Brazil. Batista  maintains an active digital life, with a personal site with articles, videos and news about his companies.
The digital channel that Batista has chosen as his primary means of personal communication is Twitter. In , Batista was listed by Forbes magazine as the 8th richest person in the world  and the richest person in Brazil as well as on the entire continent.
At the end of , the magazine ranked Batista as the 58th most powerful person in the world,  placing him as Brazil's most powerful person after the then-president of Brazil, Dilma Rousseff. Paulo described Batista as a " self-made man ",  an entrepreneur with a fortune acquired primarily through his own efforts, not inheritance.
Another 17 Brazilians were on the list, including Batista who in said his goal was to become the richest man in the world in five years. By , he had moved up to the 61st position and was considered the richest  man in Brazil. All of Batista's companies were named with 3-letter combinations ending in the letter "X", which Batista believed was a symbol for the multiplication of wealth.
As of , due to falling commodity prices, none of his enterprises were profitable despite substantial infusions of cash by the Brazilian government, and Batista was engaged in desperate efforts to shed assets and meet the demands of creditors. There were 20, people working in the construction and operation of the group's projects in Since the early s however, Batista has focused primarily on natural resources, energy and infrastructure.
The company has complementary businesses in power generation , coal mining  and exploration and production of natural gas. ON SE and Batista. The company's wells turned out to be duds, however, and OGX filed for bankruptcy protection on 30 October On 26 July , Bloomberg News reported his losses as "historic.
Other economic issues and management decisions factored in as well. Bloomberg News likened events leading to the failure as a "Perfect Storm. He publicly boasted several times that he would overtake Mexican baron Carlos Slim to become the world's richest man by Batista pledged that he would leave no creditor unpaid, and would fulfill all of his debt obligations.
On 9 February , Brazilian police seized cash and seven cars, including a white Lamborghini Aventador , from Batista. Batista's lawyer, Fernando Martins, expects to appeal the verdict. From Wikipedia, the free encyclopedia. This name uses Portuguese naming customs : the first or maternal family name is Fuhrken and the second or paternal family name is Batista da Silva.
Governador Valadares, Minas Gerais , Brazil. Luma de Oliveira. European CEO. Archived from the original on 20 July Retrieved July 9, March Bloomberg Businessweek. Retrieved 1 August Archived from the original on 1 September Archived from the original on 1 March The Guardian.
Retrieved 14 July Retrieved 8 August Financial Times. Retrieved 5 January Folha de S.