Even if you’re not a big gambler yourself, the business dynamics of this sector are influenced by such a diverse range of factors that predicting performance is far from easy and requires a bit of gambler’s luck.
In this article we bring you a wrap-up of some of the casino sector developments and news stories from around the world.
South Korea heats up
South Korea’s Ministry of Culture, Sports and Tourism is expected to award up to three casino operators licence in 2016. Nine sites across the country have been short-listed as potential locations for casinos, and so far the ministry has confirmed that it has received thirty-four submissions from interested operators. As you would expect, it’s not just local operators who are interested in taking a stake in South Korea’s casino sector, international operators are also queuing up to lodge submissions. The ministry has confirmed that so far submissions have been received from Las Vegas Sands, Genting Group, Galaxy Entertainment Group, Grand Korea Leisure, Naga Corp, SunCity Group, Imperial Pacific International Holdings, and Global Gaming Asset Management. Just ahead of the closing deadline Mohegan Sun have also lodged a bid to include a casino within the USD$1.6billion development that they are working on with the Incheon International Airport Corporation. South Korea’s casino sector is a bit of an unknown prospect, but this is definitely a region to watch.
Goa comes under pressure
Often referred to as the Las Vegas of India, Goa is one of only three regions within India that allows legal casinos to operate, and of those three Goa is the only location that allows live gaming (meaning that there is an actual person at the gaming table dealing you the cards). The live gaming at Goa is restricted to off-shore casinos which are situated on boats on the river near the city of Panaji in Goa.
Upping the security in Las Vegas
Reports are emerging from Las Vegas of regular security alerts as the security staff of the casinos are on high alert for any suspicious packages or potential threats to the safety of patrons. So far alerts seem to have been limited to baggage left unattended by casino patrons, but it seems likely that a heightened state of alert will continue in Las Vegas for the foreseeable future. While popular with domestic tourists, the casinos of Goa are coming under pressure from opponents who see them as a bad influence and promoting undesirable behaviour. Local casino operators have ambitions of building Goa’s profile into an international gambling destination similar to Singapore or Macau, moving from the boat-based casinos into larger resort-style entertainment complexes, but this seems to be placing the government in a difficult position as they try to balance the economic benefits that casino-based developments will bring against local opposition to gambling.
Are you ready to place some bets on the world’s casino and gaming sector? Make sure you do you research and don’t risk your investments on lady luck.