World’s Top 20 Biggest Casinos

[...] Los 20 casinos más grandes del mundo [eng] thewondrous.com/worlds-top-20-biggest-casinos/  por Torosentado hace 4 segundos [...]

[...] This week, Inside Gaming scanned the globe to bring you essentially the most interesting gambling-related business stories from world wide. And these stories have everything — government intrigue, eccentric financiers, dollar amounts with nine zeros after them, or even Black Friday, Latin American style.Casinos in Ecuador Given Six Months to close DownBrick-and-mortar casinos in Ecuador got just a little more warning about their closure than American online poker players got on Black Friday, but last Friday’s announcement giving Ecuadorian casinos six months to near their doors was still a shock. A referendum passed in May banning gambling in Ecuador, but casinos were told they’d receive one to 2 years to close, and lots of have been lobbying for a sunset provision to shop for them as much as five more years.President Rafael Correa signed a decree last week setting a six-month deadline for the closing of all licensed casinos and bingo halls in Ecuador. The decree stated that no requests for delay might be granted and no compensation could be given to owners or operators. It’s going to even be illegal to import new slot machines or gaming products into the rustic. One local chain of gambling parlors solved the issue by signing a deal last month to transform their properties into upscale fitness centers, but most are struggling to determine their next step. Some need to move their businesses to Costa Rica, Puerto Rico or Colombia.The shutdown will cost the rustic 3,200 jobs. President Correa has said that job losses aren’t an issue to continue to permit gambling. Last year he told reporters, “If we followed that argument we might also keep allowing arms production because people would lose their jobs. We’d allow loan-sharking for a similar reason.” Ecuador’s Ministry of work Relations is needed to supply training courses to all casino workers who’re losing their jobs.In early May, voters voted, by a small margin, that they agreed the rustic should prohibit gambling “with a purpose to avoid…causing social problems, especially among more vulnerable people.” The various casinos in Ecuador can be found in hotels in tourist areas and owned and operated by foreign companies. Ecuador follows Cuba and Brazil in banning most varieties of gaming. Venezuela will not be far behind in enacting similar restrictions.The Straits Times and Gambling Compliance have more.Former Hungarian PM Loses Immunity in Casino Land-Swap ScandalHungarian Parliament voted on Monday to revoke former Prime Minister Ferenec Gyurcsány’s immunity from prosecution for his alleged abuse of office associated with a $1 billion casino development project in Budapest. Gyurcsány, who served as prime minister from 2004 to 2009, says there is not any evidence to link him to the shady deal and the costs are the entire work of long-time political nemesis, current Prime Minister Viktor Orbán.Bloomberg reported that the Parliament voted 306-52 to raise Gyurcsány’s immunity, easily reaching the required two-thirds majority. Only his fellow Socialist Party members voted against the measure. Gyurcsány was implicated in a 2008 scandal involving a land transfer for the King’s City casino project. Investors acquired a valuable piece of state-owned lakeside real estate in exchange for a plot of far less valuable farmland. The land swap and the entire casino project were canceled after the transaction was investigated by Prime Minister Gordon Bajnai, who succeeded Gyurcsány in 2009.Read more concerning the dispute in The Budapest Times.Packer and Ho Consider $1 Billion Manila Casino InvestmentLawrence Ho, son of elderly Macau gaming mogul Stanley Ho, and Australian financier James Packer are looking into investing in a casino project in Manila. A Philippine gambling regulator said the pair’s company, Melco Crown Entertainment Ltd., could invest $1 billion or more. “I FEEL they’re serious,” said chairman of the state-owned Philippine Amusement & Gaming Corp., Cristino Naguiat.The Philippines awarded four gaming licenses in 2008 and 2009, though just one license holder has begun construction on a project. The federal government is asking to accelerate the industry’s growth to compete for a share of the revenues soaring in Singapore and Macau.Bloomberg has more at the billionaires’ visit and on all the casino projects under development within the Philippines.Wynn to Pay Macau Govt. $193 Million Premium to Secure New Land and Resort ConcessionWynn Macau Ltd. made a maintain the Macau government to pay a premium of 1.55 billion patacas, comparable to $193 million, over market value for 51 acres at the island’s Cotai Strip. The agreement features a concession allowing the land for use for a gambling resort and retail stores. The earliest Wynn Macau could open a brand new property can be 2015.Macau was the golden goose for Wynn, MGM International, and Sands China, but its astronomical growth may well be at the decline, in line with some industry insiders. Wynn Macau stock fell 4.1 percent Monday as Hong Kong’s Hang Sen Index dropped by nearly the similar amount.See what analysts need to say about Wynn Macau’s future at Bloomberg.com.Follow us on Twitter for up-to-the-minute news.*Photo courtesy of TheWondrous.com [...]

[...] This week, Inside Gaming scanned the globe to bring you probably the most interesting gambling-related business stories from world wide. And these stories have everything — government intrigue, eccentric financiers, dollar amounts with nine zeros after them, or even Black Friday, Latin American style.Casinos in Ecuador Given Six Months to close DownBrick-and-mortar casinos in Ecuador got slightly more warning about their closure than American online poker players got on Black Friday, but last Friday’s announcement giving Ecuadorian casinos six months to near their doors was still a shock. A referendum passed in May banning gambling in Ecuador, but casinos were told they’d receive one to 2 years to close, and plenty of have been lobbying for a sunset provision to shop for them as much as five more years.President Rafael Correa signed a decree last week setting a six-month deadline for the closing of all licensed casinos and bingo halls in Ecuador. The decree stated that no requests for delay could be granted and no compensation can be given to owners or operators. It’s going to even be illegal to import new slot machines or gaming products into the rustic. One local chain of gambling parlors solved the issue by signing a deal last month to transform their properties into upscale fitness centers, but most are struggling to determine their next step. Some need to move their businesses to Costa Rica, Puerto Rico or Colombia.The shutdown will cost the rustic 3,200 jobs. President Correa has said that job losses aren’t a controversy to continue to permit gambling. Last year he told reporters, “If we followed that argument we’d also keep allowing arms production because people would lose their jobs. We’d allow loan-sharking for a similar reason.” Ecuador’s Ministry of work Relations is needed to provide training courses to all casino workers who’re losing their jobs.In early May, voters voted, by a small margin, that they agreed the rustic should prohibit gambling “with a view to avoid…causing social problems, especially among more vulnerable people.” The various casinos in Ecuador can be found in hotels in tourist areas and owned and operated by foreign companies. Ecuador follows Cuba and Brazil in banning most kinds of gaming. Venezuela is probably not far behind in enacting similar restrictions.The Straits Times and Gambling Compliance have more.Former Hungarian PM Loses Immunity in Casino Land-Swap ScandalHungarian Parliament voted on Monday to revoke former Prime Minister Ferenec Gyurcsány’s immunity from prosecution for his alleged abuse of office associated with a $1 billion casino development project in Budapest. Gyurcsány, who served as prime minister from 2004 to 2009, says there’s no evidence to link him to the shady deal and the fees are the entire work of long-time political nemesis, current Prime Minister Viktor Orbán.Bloomberg reported that the Parliament voted 306-52 to raise Gyurcsány’s immunity, easily reaching the mandatory two-thirds majority. Only his fellow Socialist Party members voted against the measure. Gyurcsány was implicated in a 2008 scandal involving a land transfer for the King’s City casino project. Investors acquired a valuable piece of state-owned lakeside real estate in exchange for a plot of far less valuable farmland. The land swap and the entire casino project were canceled after the transaction was investigated by Prime Minister Gordon Bajnai, who succeeded Gyurcsány in 2009.Read more concerning the dispute in The Budapest Times.Packer and Ho Consider $1 Billion Manila Casino InvestmentLawrence Ho, son of elderly Macau gaming mogul Stanley Ho, and Australian financier James Packer are looking into investing in a casino project in Manila. A Philippine gambling regulator said the pair’s company, Melco Crown Entertainment Ltd., could invest $1 billion or more. “I BELIEVE they’re serious,” said chairman of the state-owned Philippine Amusement & Gaming Corp., Cristino Naguiat.The Philippines awarded four gaming licenses in 2008 and 2009, though just one license holder has begun construction on a project. The federal government is asking to accelerate the industry’s growth to compete for a share of the revenues soaring in Singapore and Macau.Bloomberg has more at the billionaires’ visit and on the entire casino projects under development within the Philippines.Wynn to Pay Macau Govt. $193 Million Premium to Secure New Land and Resort ConcessionWynn Macau Ltd. made a maintain the Macau government to pay a premium of 1.55 billion patacas, corresponding to $193 million, over market value for 51 acres at the island’s Cotai Strip. The agreement features a concession allowing the land for use for a gambling resort and retail stores. The earliest Wynn Macau could open a brand new property can be 2015.Macau have been the golden goose for Wynn, MGM International, and Sands China, but its astronomical growth might be at the decline, consistent with some industry insiders. Wynn Macau stock fell 4.1 percent Monday as Hong Kong’s Hang Sen Index dropped by nearly the similar amount.See what analysts need to say about Wynn Macau’s future at Bloomberg.com.Follow us on Twitter for up-to-the-minute news.*Photo courtesy of TheWondrous.com [...]

[...] This week, Inside Gaming scanned the globe to bring you probably the most interesting gambling-related business stories from world wide. And these stories have everything — government intrigue, eccentric financiers, dollar amounts with nine zeros after them, or even Black Friday, Latin American style.Casinos in Ecuador Given Six Months to close DownBrick-and-mortar casinos in Ecuador got just a little more warning about their closure than American online poker players got on Black Friday, but last Friday’s announcement giving Ecuadorian casinos six months to near their doors was still a shock. A referendum passed in May banning gambling in Ecuador, but casinos were told they’d take delivery of one to 2 years to close, and plenty of were lobbying for a sunset provision to shop for them as much as five more years.President Rafael Correa signed a decree last week setting a six-month deadline for the closing of all licensed casinos and bingo halls in Ecuador. The decree stated that no requests for delay might be granted and no compensation could be given to owners or operators. It’s going to even be illegal to import new slot machines or gaming products into the rustic. One local chain of gambling parlors solved the issue by signing a deal last month to transform their properties into upscale fitness centers, but most are struggling to determine their next step. Some want to move their businesses to Costa Rica, Puerto Rico or Colombia.The shutdown will cost the rustic 3,200 jobs. President Correa has said that job losses don’t seem to be a controversy to continue to permit gambling. Last year he told reporters, “If we followed that argument we might also keep allowing arms production because people would lose their jobs. We’d allow loan-sharking for a similar reason.” Ecuador’s Ministry of work Relations is needed to supply training courses to all casino workers who’re losing their jobs.In early May, voters voted, by a small margin, that they agreed the rustic should prohibit gambling “with a view to avoid…causing social problems, especially among more vulnerable people.” A number of the casinos in Ecuador can be found in hotels in tourist areas and owned and operated by foreign companies. Ecuador follows Cuba and Brazil in banning most varieties of gaming. Venezuela is probably not far behind in enacting similar restrictions.The Straits Times and Gambling Compliance have more.Former Hungarian PM Loses Immunity in Casino Land-Swap ScandalHungarian Parliament voted on Monday to revoke former Prime Minister Ferenec Gyurcsány’s immunity from prosecution for his alleged abuse of office associated with a $1 billion casino development project in Budapest. Gyurcsány, who served as prime minister from 2004 to 2009, says there is not any evidence to link him to the shady deal and the costs are the entire work of long-time political nemesis, current Prime Minister Viktor Orbán.Bloomberg reported that the Parliament voted 306-52 to raise Gyurcsány’s immunity, easily reaching the required two-thirds majority. Only his fellow Socialist Party members voted against the measure. Gyurcsány was implicated in a 2008 scandal involving a land transfer for the King’s City casino project. Investors acquired a valuable piece of state-owned lakeside real estate in exchange for a plot of far less valuable farmland. The land swap and the entire casino project were canceled after the transaction was investigated by Prime Minister Gordon Bajnai, who succeeded Gyurcsány in 2009.Read more in regards to the dispute in The Budapest Times.Packer and Ho Consider $1 Billion Manila Casino InvestmentLawrence Ho, son of elderly Macau gaming mogul Stanley Ho, and Australian financier James Packer are looking into investing in a casino project in Manila. A Philippine gambling regulator said the pair’s company, Melco Crown Entertainment Ltd., could invest $1 billion or more. “I FEEL they’re serious,” said chairman of the state-owned Philippine Amusement & Gaming Corp., Cristino Naguiat.The Philippines awarded four gaming licenses in 2008 and 2009, though just one license holder has begun construction on a project. The federal government is asking to accelerate the industry’s growth to compete for a share of the revenues soaring in Singapore and Macau.Bloomberg has more at the billionaires’ visit and on all the casino projects under development within the Philippines.Wynn to Pay Macau Govt. $193 Million Premium to Secure New Land and Resort ConcessionWynn Macau Ltd. made a take care of the Macau government to pay a premium of 1.55 billion patacas, similar to $193 million, over market value for 51 acres at the island’s Cotai Strip. The agreement features a concession allowing the land for use for a gambling resort and retail stores. The earliest Wynn Macau could open a brand new property can be 2015.Macau was the golden goose for Wynn, MGM International, and Sands China, but its astronomical growth may well be at the decline, in line with some industry insiders. Wynn Macau stock fell 4.1 percent Monday as Hong Kong’s Hang Sen Index dropped by nearly the similar amount.See what analysts must say about Wynn Macau’s future at Bloomberg.com.Follow us on Twitter for up-to-the-minute news.*Photo courtesy of TheWondrous.com [...]

[...] This week, Inside Gaming scanned the globe to bring you essentially the most interesting gambling-related business stories from world wide. And these stories have everything — government intrigue, eccentric financiers, dollar amounts with nine zeros after them, or even Black Friday, Latin American style.Casinos in Ecuador Given Six Months to close DownBrick-and-mortar casinos in Ecuador got somewhat more warning about their closure than American online poker players got on Black Friday, but last Friday’s announcement giving Ecuadorian casinos six months to near their doors was still a shock. A referendum passed in May banning gambling in Ecuador, but casinos were told they’d take delivery of one to 2 years to close, and plenty of were lobbying for a sunset provision to shop for them as much as five more years.President Rafael Correa signed a decree last week setting a six-month deadline for the closing of all licensed casinos and bingo halls in Ecuador. The decree stated that no requests for delay can be granted and no compensation may be given to owners or operators. It’s going to even be illegal to import new slot machines or gaming products into the rustic. One local chain of gambling parlors solved the issue by signing a deal last month to transform their properties into upscale fitness centers, but most are struggling to determine their next step. Some need to move their businesses to Costa Rica, Puerto Rico or Colombia.The shutdown will cost the rustic 3,200 jobs. President Correa has said that job losses don’t seem to be a controversy to continue to permit gambling. Last year he told reporters, “If we followed that argument we’d also keep allowing arms production because people would lose their jobs. We might allow loan-sharking for a similar reason.” Ecuador’s Ministry of work Relations is needed to provide training courses to all casino workers who’re losing their jobs.In early May, voters voted, by a small margin, that they agreed the rustic should prohibit gambling “as a way to avoid…causing social problems, especially among more vulnerable people.” Most of the casinos in Ecuador can be found in hotels in tourist areas and owned and operated by foreign companies. Ecuador follows Cuba and Brazil in banning most varieties of gaming. Venezuela is probably not far behind in enacting similar restrictions.The Straits Times and Gambling Compliance have more.Former Hungarian PM Loses Immunity in Casino Land-Swap ScandalHungarian Parliament voted on Monday to revoke former Prime Minister Ferenec Gyurcsány’s immunity from prosecution for his alleged abuse of office associated with a $1 billion casino development project in Budapest. Gyurcsány, who served as prime minister from 2004 to 2009, says there is not any evidence to link him to the shady deal and the fees are all of the work of long-time political nemesis, current Prime Minister Viktor Orbán.Bloomberg reported that the Parliament voted 306-52 to raise Gyurcsány’s immunity, easily reaching the required two-thirds majority. Only his fellow Socialist Party members voted against the measure. Gyurcsány was implicated in a 2008 scandal involving a land transfer for the King’s City casino project. Investors acquired a valuable piece of state-owned lakeside real estate in exchange for a plot of far less valuable farmland. The land swap and the entire casino project were canceled after the transaction was investigated by Prime Minister Gordon Bajnai, who succeeded Gyurcsány in 2009.Read more concerning the dispute in The Budapest Times.Packer and Ho Consider $1 Billion Manila Casino InvestmentLawrence Ho, son of elderly Macau gaming mogul Stanley Ho, and Australian financier James Packer are looking into investing in a casino project in Manila. A Philippine gambling regulator said the pair’s company, Melco Crown Entertainment Ltd., could invest $1 billion or more. “I FEEL they’re serious,” said chairman of the state-owned Philippine Amusement & Gaming Corp., Cristino Naguiat.The Philippines awarded four gaming licenses in 2008 and 2009, though just one license holder has begun construction on a project. The federal government is asking to accelerate the industry’s growth to compete for a share of the revenues soaring in Singapore and Macau.Bloomberg has more at the billionaires’ visit and on the entire casino projects under development within the Philippines.Wynn to Pay Macau Govt. $193 Million Premium to Secure New Land and Resort ConcessionWynn Macau Ltd. made a maintain the Macau government to pay a premium of 1.55 billion patacas, similar to $193 million, over market value for 51 acres at the island’s Cotai Strip. The agreement features a concession allowing the land for use for a gambling resort and retail stores. The earliest Wynn Macau could open a brand new property could be 2015.Macau was the golden goose for Wynn, MGM International, and Sands China, but its astronomical growth may well be at the decline, consistent with some industry insiders. Wynn Macau stock fell 4.1 percent Monday as Hong Kong’s Hang Sen Index dropped by nearly the similar amount.See what analysts must say about Wynn Macau’s future at Bloomberg.com.Follow us on Twitter for up-to-the-minute news.*Photo courtesy of TheWondrous.com [...]

[...] This week, Inside Gaming scanned the globe to bring you essentially the most interesting gambling-related business stories from around the globe. And these stories have everything — government intrigue, eccentric financiers, dollar amounts with nine zeros after them, or even Black Friday, Latin American style.Casinos in Ecuador Given Six Months to close DownBrick-and-mortar casinos in Ecuador got somewhat more warning about their closure than American online poker players got on Black Friday, but last Friday’s announcement giving Ecuadorian casinos six months to near their doors was still a shock. A referendum passed in May banning gambling in Ecuador, but casinos were told they’d receive one to 2 years to close, and plenty of have been lobbying for a sunset provision to shop for them as much as five more years.President Rafael Correa signed a decree last week setting a six-month deadline for the closing of all licensed casinos and bingo halls in Ecuador. The decree stated that no requests for delay may be granted and no compensation could be given to owners or operators. It’ll even be illegal to import new slot machines or gaming products into the rustic. One local chain of gambling parlors solved the issue by signing a deal last month to transform their properties into upscale fitness centers, but most are struggling to determine their next step. Some want to move their businesses to Costa Rica, Puerto Rico or Colombia.The shutdown will cost the rustic 3,200 jobs. President Correa has said that job losses don’t seem to be a controversy to continue to permit gambling. Last year he told reporters, “If we followed that argument we’d also keep allowing arms production because people would lose their jobs. We might allow loan-sharking for a similar reason.” Ecuador’s Ministry of work Relations is needed to supply training courses to all casino workers who’re losing their jobs.In early May, voters voted, by a small margin, that they agreed the rustic should prohibit gambling “in an effort to avoid…causing social problems, especially among more vulnerable people.” A number of the casinos in Ecuador can be found in hotels in tourist areas and owned and operated by foreign companies. Ecuador follows Cuba and Brazil in banning most kinds of gaming. Venezuela might not be far behind in enacting similar restrictions.The Straits Times and Gambling Compliance have more.Former Hungarian PM Loses Immunity in Casino Land-Swap ScandalHungarian Parliament voted on Monday to revoke former Prime Minister Ferenec Gyurcsány’s immunity from prosecution for his alleged abuse of office associated with a $1 billion casino development project in Budapest. Gyurcsány, who served as prime minister from 2004 to 2009, says there is not any evidence to link him to the shady deal and the costs are the entire work of long-time political nemesis, current Prime Minister Viktor Orbán.Bloomberg reported that the Parliament voted 306-52 to raise Gyurcsány’s immunity, easily reaching the mandatory two-thirds majority. Only his fellow Socialist Party members voted against the measure. Gyurcsány was implicated in a 2008 scandal involving a land transfer for the King’s City casino project. Investors acquired a valuable piece of state-owned lakeside real estate in exchange for a plot of far less valuable farmland. The land swap and the entire casino project were canceled after the transaction was investigated by Prime Minister Gordon Bajnai, who succeeded Gyurcsány in 2009.Read more concerning the dispute in The Budapest Times.Packer and Ho Consider $1 Billion Manila Casino InvestmentLawrence Ho, son of elderly Macau gaming mogul Stanley Ho, and Australian financier James Packer are looking into investing in a casino project in Manila. A Philippine gambling regulator said the pair’s company, Melco Crown Entertainment Ltd., could invest $1 billion or more. “I FEEL they’re serious,” said chairman of the state-owned Philippine Amusement & Gaming Corp., Cristino Naguiat.The Philippines awarded four gaming licenses in 2008 and 2009, though just one license holder has begun construction on a project. The federal government is calling to accelerate the industry’s growth to compete for a share of the revenues soaring in Singapore and Macau.Bloomberg has more at the billionaires’ visit and on the entire casino projects under development within the Philippines.Wynn to Pay Macau Govt. $193 Million Premium to Secure New Land and Resort ConcessionWynn Macau Ltd. made a take care of the Macau government to pay a premium of 1.55 billion patacas, akin to $193 million, over market value for 51 acres at the island’s Cotai Strip. The agreement features a concession allowing the land for use for a gambling resort and retail stores. The earliest Wynn Macau could open a brand new property can be 2015.Macau have been the golden goose for Wynn, MGM International, and Sands China, but its astronomical growth may well be at the decline, consistent with some industry insiders. Wynn Macau stock fell 4.1 percent Monday as Hong Kong’s Hang Sen Index dropped by nearly the similar amount.See what analysts must say about Wynn Macau’s future at Bloomberg.com.Follow us on Twitter for up-to-the-minute news.*Photo courtesy of TheWondrous.com [...]

[...] This week, Inside Gaming scanned the globe to bring you essentially the most interesting gambling-related business stories from around the globe. And these stories have everything — government intrigue, eccentric financiers, dollar amounts with nine zeros after them, or even Black Friday, Latin American style.Casinos in Ecuador Given Six Months to close DownBrick-and-mortar casinos in Ecuador got slightly more warning about their closure than American online poker players got on Black Friday, but last Friday’s announcement giving Ecuadorian casinos six months to near their doors was still a shock. A referendum passed in May banning gambling in Ecuador, but casinos were told they’d accept one to 2 years to close, and lots of were lobbying for a sunset provision to shop for them as much as five more years.President Rafael Correa signed a decree last week setting a six-month deadline for the closing of all licensed casinos and bingo halls in Ecuador. The decree stated that no requests for delay could be granted and no compensation can be given to owners or operators. It’ll even be illegal to import new slot machines or gaming products into the rustic. One local chain of gambling parlors solved the issue by signing a deal last month to transform their properties into upscale fitness centers, but most are struggling to determine their next step. Some want to move their businesses to Costa Rica, Puerto Rico or Colombia.The shutdown will cost the rustic 3,200 jobs. President Correa has said that job losses aren’t a controversy to continue to permit gambling. Last year he told reporters, “If we followed that argument we might also keep allowing arms production because people would lose their jobs. We’d allow loan-sharking for a similar reason.” Ecuador’s Ministry of work Relations is needed to provide training courses to all casino workers who’re losing their jobs.In early May, voters voted, by a small margin, that they agreed the rustic should prohibit gambling “in an effort to avoid…causing social problems, especially among more vulnerable people.” A number of the casinos in Ecuador can be found in hotels in tourist areas and owned and operated by foreign companies. Ecuador follows Cuba and Brazil in banning most sorts of gaming. Venezuela is probably not far behind in enacting similar restrictions.The Straits Times and Gambling Compliance have more.Former Hungarian PM Loses Immunity in Casino Land-Swap ScandalHungarian Parliament voted on Monday to revoke former Prime Minister Ferenec Gyurcsány’s immunity from prosecution for his alleged abuse of office associated with a $1 billion casino development project in Budapest. Gyurcsány, who served as prime minister from 2004 to 2009, says there’s no evidence to link him to the shady deal and the fees are the entire work of long-time political nemesis, current Prime Minister Viktor Orbán.Bloomberg reported that the Parliament voted 306-52 to raise Gyurcsány’s immunity, easily reaching the mandatory two-thirds majority. Only his fellow Socialist Party members voted against the measure. Gyurcsány was implicated in a 2008 scandal involving a land transfer for the King’s City casino project. Investors acquired a valuable piece of state-owned lakeside real estate in exchange for a plot of far less valuable farmland. The land swap and the entire casino project were canceled after the transaction was investigated by Prime Minister Gordon Bajnai, who succeeded Gyurcsány in 2009.Read more concerning the dispute in The Budapest Times.Packer and Ho Consider $1 Billion Manila Casino InvestmentLawrence Ho, son of elderly Macau gaming mogul Stanley Ho, and Australian financier James Packer are looking into investing in a casino project in Manila. A Philippine gambling regulator said the pair’s company, Melco Crown Entertainment Ltd., could invest $1 billion or more. “I BELIEVE they’re serious,” said chairman of the state-owned Philippine Amusement & Gaming Corp., Cristino Naguiat.The Philippines awarded four gaming licenses in 2008 and 2009, though just one license holder has begun construction on a project. The federal government is calling to accelerate the industry’s growth to compete for a share of the revenues soaring in Singapore and Macau.Bloomberg has more at the billionaires’ visit and on the entire casino projects under development within the Philippines.Wynn to Pay Macau Govt. $193 Million Premium to Secure New Land and Resort ConcessionWynn Macau Ltd. made a take care of the Macau government to pay a premium of 1.55 billion patacas, similar to $193 million, over market value for 51 acres at the island’s Cotai Strip. The agreement features a concession allowing the land for use for a gambling resort and retail stores. The earliest Wynn Macau could open a brand new property can be 2015.Macau have been the golden goose for Wynn, MGM International, and Sands China, but its astronomical growth may well be at the decline, consistent with some industry insiders. Wynn Macau stock fell 4.1 percent Monday as Hong Kong’s Hang Sen Index dropped by nearly the similar amount.See what analysts need to say about Wynn Macau’s future at Bloomberg.com.Follow us on Twitter for up-to-the-minute news.*Photo courtesy of TheWondrous.com [...]

[...] This week, Inside Gaming scanned the globe to bring you probably the most interesting gambling-related business stories from world wide. And these stories have everything — government intrigue, eccentric financiers, dollar amounts with nine zeros after them, or even Black Friday, Latin American style.Casinos in Ecuador Given Six Months to close DownBrick-and-mortar casinos in Ecuador got somewhat more warning about their closure than American online poker players got on Black Friday, but last Friday’s announcement giving Ecuadorian casinos six months to near their doors was still a shock. A referendum passed in May banning gambling in Ecuador, but casinos were told they’d take delivery of one to 2 years to close, and plenty of have been lobbying for a sunset provision to shop for them as much as five more years.President Rafael Correa signed a decree last week setting a six-month deadline for the closing of all licensed casinos and bingo halls in Ecuador. The decree stated that no requests for delay might be granted and no compensation might be given to owners or operators. It’s going to even be illegal to import new slot machines or gaming products into the rustic. One local chain of gambling parlors solved the issue by signing a deal last month to transform their properties into upscale fitness centers, but most are struggling to determine their next step. Some want to move their businesses to Costa Rica, Puerto Rico or Colombia.The shutdown will cost the rustic 3,200 jobs. President Correa has said that job losses don’t seem to be a controversy to continue to permit gambling. Last year he told reporters, “If we followed that argument we’d also keep allowing arms production because people would lose their jobs. We might allow loan-sharking for a similar reason.” Ecuador’s Ministry of work Relations is needed to provide training courses to all casino workers who’re losing their jobs.In early May, voters voted, by a small margin, that they agreed the rustic should prohibit gambling “in an effort to avoid…causing social problems, especially among more vulnerable people.” A number of the casinos in Ecuador can be found in hotels in tourist areas and owned and operated by foreign companies. Ecuador follows Cuba and Brazil in banning most types of gaming. Venezuela might not be far behind in enacting similar restrictions.The Straits Times and Gambling Compliance have more.Former Hungarian PM Loses Immunity in Casino Land-Swap ScandalHungarian Parliament voted on Monday to revoke former Prime Minister Ferenec Gyurcsány’s immunity from prosecution for his alleged abuse of office associated with a $1 billion casino development project in Budapest. Gyurcsány, who served as prime minister from 2004 to 2009, says there’s no evidence to link him to the shady deal and the costs are all of the work of long-time political nemesis, current Prime Minister Viktor Orbán.Bloomberg reported that the Parliament voted 306-52 to boost Gyurcsány’s immunity, easily reaching the required two-thirds majority. Only his fellow Socialist Party members voted against the measure. Gyurcsány was implicated in a 2008 scandal involving a land transfer for the King’s City casino project. Investors acquired a valuable piece of state-owned lakeside real estate in exchange for a plot of far less valuable farmland. The land swap and the entire casino project were canceled after the transaction was investigated by Prime Minister Gordon Bajnai, who succeeded Gyurcsány in 2009.Read more in regards to the dispute in The Budapest Times.Packer and Ho Consider $1 Billion Manila Casino InvestmentLawrence Ho, son of elderly Macau gaming mogul Stanley Ho, and Australian financier James Packer are looking into investing in a casino project in Manila. A Philippine gambling regulator said the pair’s company, Melco Crown Entertainment Ltd., could invest $1 billion or more. “I BELIEVE they’re serious,” said chairman of the state-owned Philippine Amusement & Gaming Corp., Cristino Naguiat.The Philippines awarded four gaming licenses in 2008 and 2009, though just one license holder has begun construction on a project. The federal government is asking to accelerate the industry’s growth to compete for a share of the revenues soaring in Singapore and Macau.Bloomberg has more at the billionaires’ visit and on all the casino projects under development within the Philippines.Wynn to Pay Macau Govt. $193 Million Premium to Secure New Land and Resort ConcessionWynn Macau Ltd. made a maintain the Macau government to pay a premium of 1.55 billion patacas, comparable to $193 million, over market value for 51 acres at the island’s Cotai Strip. The agreement features a concession allowing the land for use for a gambling resort and retail stores. The earliest Wynn Macau could open a brand new property could be 2015.Macau have been the golden goose for Wynn, MGM International, and Sands China, but its astronomical growth may well be at the decline, in keeping with some industry insiders. Wynn Macau stock fell 4.1 percent Monday as Hong Kong’s Hang Sen Index dropped by nearly the similar amount.See what analysts need to say about Wynn Macau’s future at Bloomberg.com.Follow us on Twitter for up-to-the-minute news.*Photo courtesy of TheWondrous.com [...]

[...] This week, Inside Gaming scanned the globe to bring you probably the most interesting gambling-related business stories from around the globe. And these stories have everything — government intrigue, eccentric financiers, dollar amounts with nine zeros after them, or even Black Friday, Latin American style.Casinos in Ecuador Given Six Months to close DownBrick-and-mortar casinos in Ecuador got a bit more warning about their closure than American online poker players got on Black Friday, but last Friday’s announcement giving Ecuadorian casinos six months to near their doors was still a shock. A referendum passed in May banning gambling in Ecuador, but casinos were told they’d receive one to 2 years to close, and lots of were lobbying for a sunset provision to shop for them as much as five more years.President Rafael Correa signed a decree last week setting a six-month deadline for the closing of all licensed casinos and bingo halls in Ecuador. The decree stated that no requests for delay can be granted and no compensation may be given to owners or operators. It is going to even be illegal to import new slot machines or gaming products into the rustic. One local chain of gambling parlors solved the issue by signing a deal last month to transform their properties into upscale fitness centers, but most are struggling to determine their next step. Some wish to move their businesses to Costa Rica, Puerto Rico or Colombia.The shutdown will cost the rustic 3,200 jobs. President Correa has said that job losses don’t seem to be an issue to continue to permit gambling. Last year he told reporters, “If we followed that argument we’d also keep allowing arms production because people would lose their jobs. We’d allow loan-sharking for a similar reason.” Ecuador’s Ministry of work Relations is needed to supply training courses to all casino workers who’re losing their jobs.In early May, voters voted, by a small margin, that they agreed the rustic should prohibit gambling “to be able to avoid…causing social problems, especially among more vulnerable people.” Most of the casinos in Ecuador can be found in hotels in tourist areas and owned and operated by foreign companies. Ecuador follows Cuba and Brazil in banning most types of gaming. Venezuela might not be far behind in enacting similar restrictions.The Straits Times and Gambling Compliance have more.Former Hungarian PM Loses Immunity in Casino Land-Swap ScandalHungarian Parliament voted on Monday to revoke former Prime Minister Ferenec Gyurcsány’s immunity from prosecution for his alleged abuse of office associated with a $1 billion casino development project in Budapest. Gyurcsány, who served as prime minister from 2004 to 2009, says there’s no evidence to link him to the shady deal and the costs are the entire work of long-time political nemesis, current Prime Minister Viktor Orbán.Bloomberg reported that the Parliament voted 306-52 to raise Gyurcsány’s immunity, easily reaching the required two-thirds majority. Only his fellow Socialist Party members voted against the measure. Gyurcsány was implicated in a 2008 scandal involving a land transfer for the King’s City casino project. Investors acquired a valuable piece of state-owned lakeside real estate in exchange for a plot of far less valuable farmland. The land swap and the entire casino project were canceled after the transaction was investigated by Prime Minister Gordon Bajnai, who succeeded Gyurcsány in 2009.Read more concerning the dispute in The Budapest Times.Packer and Ho Consider $1 Billion Manila Casino InvestmentLawrence Ho, son of elderly Macau gaming mogul Stanley Ho, and Australian financier James Packer are looking into investing in a casino project in Manila. A Philippine gambling regulator said the pair’s company, Melco Crown Entertainment Ltd., could invest $1 billion or more. “I FEEL they’re serious,” said chairman of the state-owned Philippine Amusement & Gaming Corp., Cristino Naguiat.The Philippines awarded four gaming licenses in 2008 and 2009, though just one license holder has begun construction on a project. The federal government is calling to accelerate the industry’s growth to compete for a share of the revenues soaring in Singapore and Macau.Bloomberg has more at the billionaires’ visit and on all the casino projects under development within the Philippines.Wynn to Pay Macau Govt. $193 Million Premium to Secure New Land and Resort ConcessionWynn Macau Ltd. made a maintain the Macau government to pay a premium of 1.55 billion patacas, similar to $193 million, over market value for 51 acres at the island’s Cotai Strip. The agreement features a concession allowing the land for use for a gambling resort and retail stores. The earliest Wynn Macau could open a brand new property can be 2015.Macau was the golden goose for Wynn, MGM International, and Sands China, but its astronomical growth might be at the decline, in line with some industry insiders. Wynn Macau stock fell 4.1 percent Monday as Hong Kong’s Hang Sen Index dropped by nearly the similar amount.See what analysts must say about Wynn Macau’s future at Bloomberg.com.Follow us on Twitter for up-to-the-minute news.*Photo courtesy of TheWondrous.com [...]

[...] This week, Inside Gaming scanned the globe to bring you essentially the most interesting gambling-related business stories from all over the world. And these stories have everything — government intrigue, eccentric financiers, dollar amounts with nine zeros after them, or even Black Friday, Latin American style.Casinos in Ecuador Given Six Months to close DownBrick-and-mortar casinos in Ecuador got a little bit more warning about their closure than American online poker players got on Black Friday, but last Friday’s announcement giving Ecuadorian casinos six months to near their doors was still a shock. A referendum passed in May banning gambling in Ecuador, but casinos were told they’d accept one to 2 years to close, and plenty of have been lobbying for a sunset provision to shop for them as much as five more years.President Rafael Correa signed a decree last week setting a six-month deadline for the closing of all licensed casinos and bingo halls in Ecuador. The decree stated that no requests for delay might be granted and no compensation might be given to owners or operators. It’s going to even be illegal to import new slot machines or gaming products into the rustic. One local chain of gambling parlors solved the issue by signing a deal last month to transform their properties into upscale fitness centers, but most are struggling to determine their next step. Some wish to move their businesses to Costa Rica, Puerto Rico or Colombia.The shutdown will cost the rustic 3,200 jobs. President Correa has said that job losses don’t seem to be a controversy to continue to permit gambling. Last year he told reporters, “If we followed that argument we might also keep allowing arms production because people would lose their jobs. We’d allow loan-sharking for a similar reason.” Ecuador’s Ministry of work Relations is needed to supply training courses to all casino workers who’re losing their jobs.In early May, voters voted, by a small margin, that they agreed the rustic should prohibit gambling “as a way to avoid…causing social problems, especially among more vulnerable people.” Some of the casinos in Ecuador can be found in hotels in tourist areas and owned and operated by foreign companies. Ecuador follows Cuba and Brazil in banning most types of gaming. Venezuela is probably not far behind in enacting similar restrictions.The Straits Times and Gambling Compliance have more.Former Hungarian PM Loses Immunity in Casino Land-Swap ScandalHungarian Parliament voted on Monday to revoke former Prime Minister Ferenec Gyurcsány’s immunity from prosecution for his alleged abuse of office associated with a $1 billion casino development project in Budapest. Gyurcsány, who served as prime minister from 2004 to 2009, says there’s no evidence to link him to the shady deal and the costs are all of the work of long-time political nemesis, current Prime Minister Viktor Orbán.Bloomberg reported that the Parliament voted 306-52 to boost Gyurcsány’s immunity, easily reaching the mandatory two-thirds majority. Only his fellow Socialist Party members voted against the measure. Gyurcsány was implicated in a 2008 scandal involving a land transfer for the King’s City casino project. Investors acquired a valuable piece of state-owned lakeside real estate in exchange for a plot of far less valuable farmland. The land swap and the entire casino project were canceled after the transaction was investigated by Prime Minister Gordon Bajnai, who succeeded Gyurcsány in 2009.Read more concerning the dispute in The Budapest Times.Packer and Ho Consider $1 Billion Manila Casino InvestmentLawrence Ho, son of elderly Macau gaming mogul Stanley Ho, and Australian financier James Packer are looking into investing in a casino project in Manila. A Philippine gambling regulator said the pair’s company, Melco Crown Entertainment Ltd., could invest $1 billion or more. “I FEEL they’re serious,” said chairman of the state-owned Philippine Amusement & Gaming Corp., Cristino Naguiat.The Philippines awarded four gaming licenses in 2008 and 2009, though just one license holder has begun construction on a project. The federal government is calling to accelerate the industry’s growth to compete for a share of the revenues soaring in Singapore and Macau.Bloomberg has more at the billionaires’ visit and on the entire casino projects under development within the Philippines.Wynn to Pay Macau Govt. $193 Million Premium to Secure New Land and Resort ConcessionWynn Macau Ltd. made a care for the Macau government to pay a premium of 1.55 billion patacas, comparable to $193 million, over market value for 51 acres at the island’s Cotai Strip. The agreement features a concession allowing the land for use for a gambling resort and retail stores. The earliest Wynn Macau could open a brand new property can be 2015.Macau have been the golden goose for Wynn, MGM International, and Sands China, but its astronomical growth may well be at the decline, in step with some industry insiders. Wynn Macau stock fell 4.1 percent Monday as Hong Kong’s Hang Sen Index dropped by nearly the similar amount.See what analysts need to say about Wynn Macau’s future at Bloomberg.com.Follow us on Twitter for up-to-the-minute news.*Photo courtesy of TheWondrous.com [...]