US casino operators split over internet gambling

Casino mogul Sheldon Adelson, the chief executive of Las Vegas Sands, says he is willing to spend "whatever it takes" to stop the spread of internet wagering. Photo: Bloomberg

Many experts believe online wagering is the future of gambling, but the casino industry is increasingly divided on the issue.

Wednesday, 12 February, 2014, 3:02am 1 comment

Las Vegas casinos to accept bitcoin virtual currency

Bitcoin aficionados can now go all in with the virtual currency in Vegas. Photo: Reuters

Two Las Vegas casino hotels will become the first known US commercial gambling houses to allow the use of the unregulated digital payment system bitcoin, casino officials said on Tuesday.

23 Jan 2014 - 12:37am

Junket firms milk their 'big whale' contacts

Macau's junket operators bring the local casinos more than two-thirds of their revenue, but are now branching out. Photo: EPA

When junket operator Suncity opened its first high roller baccarat table at Steve Wynn’s Macau casino in 2007 to lure China’s wealthiest punters, the firm had fewer than 30 employees and no computers or equipment other than pen and paper.

2 Jul 2013 - 2:33am

Macau Legend delays offering

Macau Legend and shareholders Lam Fog Neo and Grand Bright had planned to sell 2.05 billion shares. Photo: AP

Choppy markets have prompted casino-hotel operator Macau Legend Development to delay its HK$6.1 billion flotation, increasing pressure on other listing candidates to reconsider their plans.

22 Jun 2013 - 2:50am

Casinos in US ban Google Glass over cheating concerns at gambling tables

An attendee tries Google Glass during the Google I/O developer conference in San Francisco, California. Photo: AFP

Casinos in the United States are forbidding gamblers from wearing Google Glass, the tiny spectacles-mounted device capable of shooting photos, filming video and surfing the internet.

Regulators say the gadgets could be used to cheat at card games.

7 Jun 2013 - 1:51am

Italy's gambling addiction set to worsen

Italy's per capita spending on gaming is among the highest in the world and the economic downturn has led to more interest in gambling. Photo: Corbis

Italy is to press on with plans to open 1,000 new gambling arcades despite mounting national anguish over the spread of pathological gambling in what until recently was a nation of frugal savers. Silvio Berlusconi's last government authorised the new video-poker saloons in 2011. A contest to decide who should get the licences will be held by February.

7 Jan 2013 - 4:31am

Macau casinos' revenue climbs to HK$290b in 2012

For the full year of 2012, Macau's casino industry recorded gross gaming revenue of 304.1 billion patacas. Photo: Bloomberg

Macau's casino industry put in a stronger-than-expected performance in December, ending the year with record gross gaming revenue both in annual and monthly terms.

3 Jan 2013 - 4:36am

Macau posts record gambling revenue for October

Lights are on for the middle-class sector of visitors to Macau’s casinos. This group helped to counter the lack of high rollers. Photo: Bloomberg

Gambling revenue in Macau rose 3.2 per cent last month year on year to a record high, buoyed by an eight-day National Day holiday during which mainland gamblers flocked to bet in the world's largest casino hub.

2 Nov 2012 - 5:30am

Macau posts record gambling revenue for October

Under-21s are now barred from Macau's casinos. Photo: Jolie Ho

Gambling revenue in Macau rose 3.2 per cent last month year on year to a record high, buoyed by an eight-day National Day holiday during which mainland gamblers flocked to bet in the world's largest casino hub.

2 Nov 2012 - 3:48am

British casino refuses to pay poker star Phil Ivey his baccarat winnings

Phil Ivey

One of the world's top professional poker players has been denied £7.3 million (HK$91.32 million) in gambling winnings from Britain's oldest gaming club, reports said, as it investigates possible misconduct.

8 Oct 2012 - 4:43am

Sands gaming group to stake US$2.5 billion more on Macau

Work continues on the Sands casino in Macau. Sands China has four projects on the island. Photo: AFP

Gaming mogul Sheldon Adelson's Las Vegas Sands plans to stake US$2.5 billion in new investment to expand its growing gambling empire in Macau.

The new project, to be called The Parisian, will be located on Cotai and developed by Sands China - the Macau unit of Las Vegas Sands.

21 Sep 2012 - 2:46am

Macau casino 'crime watchdog' is shut down

Jailed Wan Kuok-koi

A US-based website which pledged to lift the lid on organised crime in Macau's casinos has been shut down after just seven months. said it would expose "dangerously weak" regulatory curbs on the influence of triad gangs in the city's gaming industry. But it has closed amid allegations of political dirty tricks and legal threats from top gaming industry figures.

16 Sep 2012 - 10:20am

Macau casinos enjoy 5.5% surge in revenue

The political power reshuffle set for later this year on the mainland is expected to have an impact on Macau's casino industry. Photo: AFP

Gaming revenue in Macau grew 5.5 per cent last month over the same month last year and was up from July's 1.5 per cent year-on-year growth, which was the slowest pace since the effects of the global financial crisis.

4 Sep 2012 - 2:34am

Under China's watch, Macau won't return to 'gangsters' paradise'

An aerial shot of central Macau. Photo: Xinhua

Three murders, hammer-wielding heavies, and a high-profile police swoop have raised concerns that Macau, the world's casino capital, may be backsliding to the bad old days of the late-1990s. And that's even before ex-triad boss "Broken Tooth" ends a 15-year jail sentence in December.

27 Aug 2012 - 4:15pm

Using maths to parlay a small edge into billions

How did Stanley Ho Hung-sun, Steve Wynn and all the other casino kingpins get so rich? You may think it's because their casinos have overwhelming odds against the gamblers. In fact, the casino's edge is tiny. You may think the gaming business generates high returns with each transaction. In fact, some games produce a return of only 0.5 per cent to 2.7 per cent on average in each round of play.

21 Aug 2011 - 12:00am