Archives for : Gambling Fun

Celebrities Stay Sheltered in Las Vegas

celebrities in la casinoEverybody knows that celebrities have a complicated relationship with paparazzi. For example, celebrities often despise how paparazzi follow them around taking constant pictures and asking question after question. They also hate it when paparazzi leak private matters to the press. However, there is a place in the country where celebrities can go and find a bit of a vacation from paparazzi. Do you know where it is? It’s Las Vegas. It’s true! People in Las Vegas tend to respect the privacy of visiting celebrities.

Las Vegas is great place for celebrities to visit. They can network with other famous people. They can also gamble for days on end in one of the many casinos. They are also generally left alone. For example, the superstar Michael Jackson was holed up in a resort in Las Vegas in 2008. He lived in the resort for two whole months before a local gossip columnist wrote a small blurb about it. Even after the blurb was published, few people seemed to care. Why is Las Vegas like this? Part of the reason stems from the professionalism of the staff at the numerous resorts and casinos. They are able to make arrangements discretely. The private nature of resorts also make them easy to defend against reporters and photographers. Celebrities can reserve entire floors of resorts and station bodyguards wherever they decide to go.

There is also a business side as well. Celebrities often go to Las Vegas to help open a new resort or a restaurant he or she may partly own. This gives them much more control. It’s nice to know there is a place in the country where celebrities can go to feel safe!

James Packer’s Macau Casino Investment Backed by Goldman Sachs

While most other casino investors in Macau are going through tough times to retain customers, Crown Resorts has a shot in the arm by way of public support from its largest investor Goldman Sachs Asset Management. The firm has invested in a large casino christened Melco Crown at Macau, in partnership with Lawrence Ho who runs City of Dreams and is also planning to be a part of Studio City. While some investors have backed off from investments in Macau due to the government crackdown on corruption, Melco Crown still stands by its investment stating that it is a onetime investment and half of its total profits are contributed by this branch.

City-of-Dreams-Macau-Melco-Crown_James Parker

Goldman Sachs supports James Packer

Goldman Sachs’ local head of Australian Equities has stated that though there is more volatility in the gambling market of Macau, it will stabilize within a few quarters and Melco Crown will witness long term growth. He further stated that Goldman Sachs has always been a long term investor and since inbound tourism in China is still at a nascent stage there is room for tremendous growth for Melco Crown which is a top class resort cum casino. As a regular investor in Crown group’s innovative business plans, Goldman Sachs is confident about long term profitability at Macau.

Financial Status of Melco Crown

The net revenues of Melco Crown fell drastically by 22 percent during initial quarter of 2015 shaking the investors as sales in both regular and VIP market segments. James Packer too admitted that the shakedown was worse than expected and profits have fallen more heavily than during early part of economic breakdown in 2008. But growing interest of inland tourists from China that are visiting the island with families to enjoy the luxuries of five star hotels, has broadened the clientele of resorts cum casinos in Macau like Melco Crown Resorts.

Online Gambling Tips From The Legends

You may be an occasional gambler or may have started playing a few rounds of poker or roulette lately, but have you ever thought of making a career out of gambling? If nothing, you can always think of gambling as a quick way of making some money. However, is it always so? What if you even lose whatever little you have, leave alone winning big. However, with these tips from the legends, you do not have to worry about losing it all while gambling.

Learn to manage your money

Online Gambling TipsYes, that’s the first rule. To make money, you need to know how you manage it well. When you start online gambling, ascertain the amount you would be spending on the game. If you will be trying a variety of games, divide your funds for each game accordingly. In any case, you should not gamble with more than what you had decided in the first place. It’s the key to not losing.

Don’t be afraid to go a level lower

If you are good at a certain game, you may tend to play its high-skill levels. However, you can also take home a considerable amount if you play low-level games. Or you can again use the strategy to divide you cash and use some for low-skill games and some for higher ones.

Don’t burn-out!

You may be tired of losing, but may still continue playing just in the hope of getting lucky in the next game. You may not even think much and may continue staying with a ‘not so good’ hand. That is when you are said to be burning out. If you are losing much, it probably is not your day, in which case you should try your luck some other day. Knowing when to stop, irrespective of whether you are winning or losing is also equally important.

Compulsive Theft and Frequent Lying Could be Signs of Gambling Addiction

A school superintendent in Dayton, Ohio is being accused by city officials of skipping his school-related work duties to gamble at local casinos. Brad Martin, the superintendent of the Tecumseh School District, allegedly stole money from the district’s bank accounts. Reports also suggest that Martin visited casinos over 100 times during his tenure as the district’s superintendent.

slot machineDuring a school board meeting held on January 5, Tecumseh city officials listed several grievances against Brad Martin. Most members of the school board want Martin to be terminated. Colleagues claim that Martin’s frequent work absences and gambling addiction make him unsuitable in the role Tecumseh’s superintendent.

Problems with Gambling Addiction in Ohio

According to addiction experts, Brad Martin’s story is indicative of a larger problem in Ohio. Casinos and gambling complexes are extremely common in the state, and gambling is a favorite past time of many of Ohio’s residents.

One such expert, Rob Walgate, says that Martin’s story is becoming an all-too-common story in Ohio. Walgate claims that theft, gambling addiction, and poor work habits can be explained by the amount of casinos in the state. Casino owners oppose Walgate’s assertions, and suggest that gambling addiction and crime are only isolated incidents.

Behavioral Experts Examine Addictive Behavior

Employees working for the Ohio Department of Addiction Services have been looking at the links between criminal behavior and gambling addiction. The department reports that compulsive lying, frequent absences from work, and theft are all linked to problem gambling.

Although he hasn’t met Brad Martin personally, Scott Anderson believes that the superintendent’s behavior is indicative of compulsive gambling. Anderson, who works for the Ohio Department of Addiction Services, says that Martin’s behavior is not logical.

Money Laundering Issues Continue to Plague Casinos

It’s not just a modern myth or a story that makes for interesting movie plots and dramatic police procedurals; casinos have long been plagued by money-laundering schemes. Compared to other industries, exchanging dirty money for chips and then chips for clean money is almost trivial as a means of laundering ill-gotten funds — even with modern technology working to undermine such efforts, it still remains highly viable for the criminally inclined. And while some may shrug their shoulders and suggest that the responsibility lays with police agencies, casinos face real consequences from this seemingly unsolvable problem.

gamblingGlobal banks are seeing fierce pressure from the United States and other governments to act against casino laundering activities, pressure that banks pass along to their client institutions in the gambling industry. Errors in enforcement of these laws can cost casino operators big and the new attention from banks makes those errors all the more likely to be noticed — and punished. Just last year, the U.S. Department of Justice fined the Las Vegas Sands Corp. almost $50 million for various errors in money-laundering policies.

Even institutions not directly exposed to the heightened focus on casino money laundering by the United States will likely find themselves facing harder questions from international banks working under pressure from the U.S. Understanding the potential threats of money laundering, how to avoid errors, and what can be done to meet all legal and financial obligations in the face of constantly evolving criminal conspiracies will only become more important as the push against money laundering grows.

Of course, little of this is likely to affect the average gambler. At worst, the push for stricter, more cautious observation may add a few hoops to jump through when cashing in or cashing out, but daily gambling will likely see little change — unless casinos decide to pass along their losses to the customer.

Organized Crime in Australia Has Ties to Gambling High Rollers

The imminent opening of new high roller casinos in Australia is raising questions about the suitability of such establishments. Sydney and Brisbane will welcome top class casinos over the next five or six years. The main clientele at these establishments will be VIPs. The casinos are keen to cash in on high profile guests in a similar manner to Macau.

australia gamblingVIPs and high rollers are known for their expensive tastes and extravagant betting habits. It is not uncommon for a high roller to spend $100,000 or $200,000 in a few hours of gambling. Whether it is craps, baccarat, poker or blackjack, they like to bet big.

The main type of customer at these casinos will be high rollers from China. These are people with very deep pockets and an even deeper love of elite gambling.

Unfortunately, there has been a report on ABC in Australia that links many high rollers to organized crime in their countries. These individuals have been linked to operating criminal enterprises, laundering money and even extreme violence. People are worried that opening these casinos will attract such trouble to Australia.

Importance of VIP Casinos –

Australian casinos already make a lot of money. Reports say that around $5 billion is generated on a yearly basis. People want more. Casino owners and local governments are working together to expand casino projects and develop VIP casinos. Owners would see a huge rise in profits, while the state would benefit through taxation policies. Billionaire James Packer is building a SIX star casino over the coming years.

When states do not have a base of taxation, they look to casinos. VIP casinos bring the possibility of millions of dollars in tax money for the governments of Brisbane and Sydney. It may be a risk to invite VIP clientele from China and other parts of the world, but Australian governments seem willing to take the punt. They are desperate to build a lucrative long term tax base for their states, and VIP casinos fit the bill.

For more on this story, click here.