30th
April Sydney Source:
SMH
The
Sydney Morning Herald carried two stories on the 26th and 28th that highlight
casinos are far from immune from the problems that face the wider society.
The articles also show the problems states face when they perhaps rely
too heavily on gaming revenues. The NSW Gaming Authority chairwoman has
been asked to explain remarks made apparently regretting the barring of
drug dealers and criminals from the Sydney Harbour Casino in 1997. One
player subsequently found guilty of Heroin smuggling had a turnover of
A$94 million during 1996.
Casino
loses Face with high roller
Country
clubs for high-rolling crooks? You can bet on it
26th
April Antigua/Philippines Source:
Press release
Another
tie up between the traditional gaming world and Internet casino operators
has been announced. Waterfront Promotions Ltd. that operate luxury hotels
and casinos in the Philippines is linking with Antigua based InterContinental
Casinos Ltd(ICC).
ICC operate among other sites the New
York Casino & USA
Casino websites that both use software provided by Sweden's Boss Media.
The initial plan is for a branded "play for fun" casino with the
version coming online later in the year.
12th
April Sydney Source:
Dow Jones
Staff
at the Star City
Casino in Sydney have voted to strike for 24 hours in support of their
pay claim. The Strike starting on Saturday at 4am is in protest at the
companies pay increase offer of 8.75% over 3 years. Star City is owned
by Tabcorp Holdings Ltd and 1,850 union members work at the property.
Workers
At Tabcorp's Star City Vote To Strike
3rd
April Korea Source:
Asia Pulse
Statistics
relating to entertainment spending released by the Bank of Korea show that
the countries citizens spent 1.21 trillion won ($1.1 billion) on casinos,
lotteries and other gambling during 1999 a rise of 11% on 1998's figures.
Expenditure on entertainment and leisure services as a whole was 18.9 trillion
($17.15 billion) up 15% from 1998.
30th
March China Source:
Yahoo Asia News
Police
raids in the Chinese province of Chengmai in the Hainan province have led
to the closure of three casinos. They also resulted in the sacking of the
towns Communist party leader for "turning a blind eye to gambling". In
the raids, police found HK$940,000 and arrested 1,377 people.
Town's
boss sacked after casino raids
25th
March Singapore Source:
Yahoo Asia
Three
men who had conspired with the casino manager of Star
Cruises ship the Superstar Aquarius to steal $880,000 have had their
sentences increased.
The manager who had already been sentenced, stole warrants for chips that
were then forged and handed to the three acomplices. They then collected
the cash chips and plaques from the cashier. After gambling for a while
the chips were cashed in for company cheques and $180,000 in cash.
Chief
Justice increases sentences of three men in Star Cruises scam
13th
March Brisbane Source:
Dow Jones/Yahoo Asia
Casinos Austria International
Ltd.
posted gross revenues of A$68.7 million for 1999 and a net profit of A$11.3
million. The Palestine & Canada results were said to be "outstanding".
The company owns or manages 14 land based casinos plus cruise ship concessions
and is 67.5% owned by Australian listed Casinos Austria International Holdings
GmbH. (Quote)
13th
March Tokyo Source:
Yahoo Finance Asia
Casinos in Tokyo!.
That could be a future possibility as Governor Shintaro Ishihara is apparently
looking for innovative plans to raise much needed tax revenue for the city.
"Mr Ishihara has now broached the idea of building casinos in Tokyo, undeterred
by the need to revise existing laws if gambling is to become legal in Japan."
Tokyo's
governor proposes casinos in new reform plans for metropolis
10th
March Australia Source:
AFR
Lasseters
Holdings Ltd. the owners of Lasseters online casino are planning a
floatation of the company. One third of the total stock will be offered
to the public. For the financial year the traditional casino in Alice Springs
is expected to contribute A$22.6 million of the companies A$29 million
gross revenues with Lasseters online $6.6 million.
Surprising is that Lasseters online that opened in April 1999 will show
a loss after expenses and taxes despite having over 37,000 registered customers
and recording over A$47 million in bets. Lasseters traditional casino
originally opened it's doors in 1981 and was bought out of bankruptcy in
1997.
Lasseters
aims at $40m in float
Also
from Australia on the 7th March software developer Online
Gaming
Systems was very up upbeat about the companies future in an article
in the Sydney Morning Herald. With 3 contracts already signed and a further
5 pending.
Australia has 5 states presently where online gaming is permitted but with
stricter licensing regulations than the Caribbean. Tax rates varying significantly
from 50% in Queensland, 25% in Tasmania and only 4% on Norfolkisland.
OGS
finds a gambler's delight
9th
March Wellington, NZ Source:
Dow Jones
New
Zealand's Sky City, the recent successful bidder for the Adelaide casino
has announced that construction will begin on the Hamilton Casino. Located
on the north island it is approximately 100 km south of the companies showcase
Auckland Casino. Sky will have a part share in the project along with Perry
Developments and Maori Indian groups.
Sky
City Begins Hamilton Casino Build
6th
March Australia Source:
Sydney Morning Herald
The
guilty verdict in New York against internet casino and sportsbook operator
Jay Cohen on the 29th February will not affect Australian operators. That
is the theme of an article in the SMH from March 1st revealing that Australia's
sole licensed casino Lasseters
has taken A$47 million in bets from 37,000 customers in its first 10 months
of operation. Lasseters is licensed by the Northern Territory State Government,
several other companies are presently waiting for approval in other states.
US
applies betting law to Antigua operation
6th
March Kuala Lumpur Source:
Dow Jones
Genting
Bhd. the Malaysian casino operator on March 1st revealed 1999 profits
higher than expected. The company that also has interests in property and
paper made a combined profit of MYR 1.1billion ($290 million). The Genting
Highlands casino outside Kuala Lumpur showed results down 19% in the first
half but up 4% in the last six months. Visitors for the year were down
2% on 1998.
Malaysia's
Genting Casino Revenue Up In 2H '99 -Analysts
4th
March Melbourne Source:
Reuters
The
Victoria State Government proposes to introduce legislation that will cap
the number of gaming machines in the state at 30,000 Reuters reported on
March 1st. There are also set to be limitations on the location of 24 hour
gaming venues. The Melbourne Crown casino presently has 2,500 machines.
Ownership is split between Tabcorp Holdings Ltd and privately owned Tattersalls
for the other 27,000.
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