Select Page

PricewaterhouseCoopers 2015 Outlook Missed Macau Meltdown and DFS Emergence

One of the ‘Big Four’ audit companies, the accuracy of PwC’s five-year Global Gaming Outlook published in 2011 is gradually coming to light.

PricewaterhouseCoopers’ (PwC) Global Gaming Outlook, published in 2011 forecasting the half-decade leading for this, hit the nail on the head regarding much of the gambling industry’s economics, but the firm missed the mark on two key issues.

PwC got a lot right in its five-year outlook on gambling, but failed on what has emerged while the two most predominant issues in worldwide gambling news: Macau’s economic issues and day-to-day dream sports (DFS).

To its credit, PwC rightly foresaw on line gambling in america, saying states would legalize online gambling enterprises independently before Congress would intervene.

That had been a bold projection in 2011, thinking about the Department of Justice and FBI had just lately seized the assets of PokerStars and Full Tilt Poker, but nonetheless a prediction that came true.

PwC also correctly hypothesized Internet gaming would be used to complement land-based gambling enterprises, a prophecy that came to pass through as Nevada, nj-new jersey, and Delaware all require online operators to work in tandem with brick-and-mortar casinos or race tracks.

The audit and assurance, tax advisory, consulting, legal, and actuarial company disclosed that the worldwide Gaming report had not been meant to offer legal or investment advice, but did state that its aim was to guide stakeholders in the company and help them decide unique future plans.

Macau Misjudged

The truth is that Macau has produced greater gambling revenues than Las Vegas since 2008, also it hasn’t even been close. Accounting for roughly 50 % of its overall economy, Macau generated $45 billion in video gaming revenues in 2013 and $43.9 billion in 2014.

By comparison, Nevada reported gaming that is statewide of $11.1 and $11 billion during those same two years.

From when Macau legalized gaming that is commercial 2002 until 2014, the marketplace increased a staggering 1,485 percent. But, profits dropped for the time that is first 2014 towards the tune of $1 billion.

the decrease was the government that is chinese crackdown on VIP junket operators transporting gambling whales and billionaires from the mainland to casinos in Macau. Junkets organize private rooms in venues where the China’s elite can play away through the prying eyes of this government that is chinese jurisdiction.

In its Global Gaming Outlook, PwC acknowledged harsher junket regulations could be forthcoming, but still predicted that Macau would create $62.5 billion in 2015 alone. That presumption probably would attended to fruition if it weren’t for Chinese President Xi Jinping’s relentless suppression of operators wanting to help the evade that is rich by the folks’s Republic.

Instead, Macau will actually come in under $30 billion this year, a $14 billion decrease in simply 12 months.

Daily Fantasy Sports: From Fantasy to Reality

Technology makes the global globe in which we live ever-changing. It’s difficult to believe today, but last year gaming analysts and industry insiders could not comprehend the notion of daily dream recreations.

In PwC’s exhaustive 39-page report on the continuing future of gambling, DFS ended up beingn’t even mentioned when.

That leads us to this festive season and the approaching New Year.

DFS leaders DraftKings and FanDuel will carry on pushing their legal status by way of a loophole in the Unlawful Internet Gambling Enforcement Act (UIGEA) of 2006, while opponents will advocate the law didn’t address daily fantasy because it simply don’t exist at the time.

It’s really a dispute with an outcome that is ensuing may have been instead impossible to predict in 2011.

American Gaming Association Study Seeks ‘Rational Alternative’ to US Sports Betting Regulation

United states Gaming Association’s Geoff Freeman says the trade association is stepping up its fight unlawful activities betting and exploring solutions that are new America’s unregulated gambling problem. (Image: yogonet.com)

The American Gaming Association (AGA) has vowed to devote its resources throughout 2016 to the pursuit of ‘a rational alternative’ to the united states activities betting status quo.

The trade association said it would ‘build a broad coalition’ that would explore different approaches to the current law through ‘robust research, aggressive communications and partnerships by having a variety of voices with interest in sports betting.’

The AGA’S place is that while just four states are permitted to offer some type of recreations betting, because of the vast most of legal bets place that is taking the gambling enterprises of Nevada, elsewhere a thriving black market in bookmaking helps you to fund organized crime.

According to AGA estimates, Americans will spend $138.9 billion on illegal activities betting this alone year.

Crusade Against Illegal Betting

The organization has hardened its stance against illegal recreations betting in recent months. Speaking at the recent Global Gaming Expo, AGA President Geoff Freeman presented a brand new study to show that illegal gambling had not been a crime that is victimless.

Examining 40 federal gambling convictions throughout 2014, which included on line and land-based sports betting, unregulated gambling enterprises and animal fight rings, the research found that the quarter of all cases were connected to organized criminal activity gangs, from the New York and Philadelphia Mafia to Texas drug traffickers.

An average of $3 million was seized, some of which would surely have been plowed into other criminal enterprises, said Freeman in each of these cases.

‘The casino gaming industry is aligned that the status quo is unsustainable,’ he said in a press release earlier in the day this month. ‘We look forward to working with police, activities leagues and other interested parties to consider effective methods to protecting consumers therefore the integrity of sports.’

Threat to Consumers

In line with the AGA, possible solutions might consist of ‘strict regulation, rigorous customer protections and robust tools for law enforcement to eliminate illegal sports betting and strengthen the integrity of games.’

‘The culmination of a thorough process within our industry positions us to make use of a wide selection of stakeholders who agree that rampant, unregulated and illegal recreations gambling is a threat to consumers and the recreations we enjoy,’ stated Jim Murren, AGA chairman and MGM Resorts Overseas president and CEO.

‘As the head associated with largest personal sector company in Nevada, I’m confident that the entertainment experience we provide in Las Vegas, which will be unmatched anywhere else in the globe, can continue steadily to excel even while our country has a fresh look at our approach to sports betting.’

The AGA said it might work with gaming leaders, police, regulators, legislators, and professional recreations leagues throughout the year that is coming order to achieve its aims.

Russian Mega Resort Tigre de Cristal Faces Backlash Over Heavily Drugged Tiger Cub

Tigre de Cristal, the first Las Vegas-style casino to open in Russia’s Primorsky Krai special financial zone, was loaded to the rafters on the opening night of its soft launch last month.

A heavily drugged tiger cub was the star attraction at the opening night of Russia’s Tigre de Cristal casino, a reality that caused outrage among the populace that is local it got out. Siberian tigers are endangered and revered. (Image: Alexander Khitrov/Siberian Occasions)

Dignitaries mingled with Russian celebs and journalists from Moscow, all of who had come to feast their eyes on the opulence of Lawrence Ho’s $900 million resort on the country’s south coast that is east close to the edge with Asia and North Korea.

But an outcry has erupted in the area’s regional press over one of the ‘acts’ that evening, a Siberian tiger cub called ‘Crystal’ that had been paraded around the casino under bright lights and music that is blaring which the casino has admitted was heavily sedated.

A casino supply told PrimaMedia that ‘for security purposes, so Crystal would not bite anybody, she was given a sedative.

‘The tigress ‘s still small,’ included the source, ‘so it had been impossible to do an injection. The vet came and gave her medicine that is liquid a bottle. She slept all the right time.’

Put At Risk Species

But, regional news source Vostokmedia accused the casino management of misjudging the public mood, because many people in Primorsky region revere the jeopardized Siberian tiger, of which you can find only 500 or therefore kept in the crazy, and are devoted to its conservation.

‘It is unlikely that locals comprehend when a live tiger cub is carried around and put underneath the limelight with noisy music towards the delight of the crowd,’ said Vostokmedia, adding that the incident will damage the casino’s reputation in the region.

Sergei Aramilev, of the Amur Tiger Centre, demanded to learn what type of sedative was used on the tigress.

‘There are cases when pet owners offer a sleeping pills to the animals. We must understand precisely in each full situation, to learn from veterinarians, just what had been the medicine and what might be the effects. Is it bad for the animal, could it be addictive? In terms of moral and aspects that are ethical it is really not good.’

Local police are currently investigating exactly which medications were administered to the animal, that will be currently housed in a regional zoo.

Casinos Vs. Animal Rights

The case highlights the wider issue of animals being kept by casinos for activity purposes, something that is certainly opposed by animal liberties groups.

The legislation left many such animals on the career scrapheap while Russia recently banned the practice of using chimpanzees as ‘casino mascots,’ for example. Media recently highlighted the case of one such ex-casino chimp that was in fact sent to ‘rehab’ for their addiction to alcohol and tobacco.

In the US, there has been present demonstrations against the Mirage’s Dolphin Habitat, which protesters say is too tiny and, according to at least one, comparable to peoples beings investing their life in a bath.

And early in the day this month, Daniel Negreanu, who works closely with animal rights group PETA, wrote to Harrah’s Cherokee Casino demanding it denounce the nearby Cherokee Bear Zoo’s ‘concrete prison,’ where bears, he stated, are kept in ‘horrendous conditions’ in barren pits.