Florida Senator Gwen Margolis wants to allow lottery fans living in the Sunshine State to purchase their tickets online.While gambling bonuses are still a rarity in the US, offering lottery tickets via the internet is nothing new. Seven US states already sell tickets on their websites and Florida could soon join their ranks, if a bill proposed by State Senator Gwen Margolis passes.

However, the new bill has few details on how the web service would work. New York residents can buy tickets using credit cards; players living in Georgia use a prepaid lottery card system; Illinois limits online purchases to $150 a day and allows winnings to be deposited into an online account. In Florida’s case, these details haven’t been clarified yet.

In support of her proposal, Margolis argued that internet sales would help increase revenue for the lottery, which is among the state’s biggest fundraisers. On the other hand, many fear that stores will take a financial blow if players will be able to conveniently purchase tickets from the comfort of their own homes.

United Press International: Florida Lottery could sell tickets online if bill passes

Last week, Florida State Sen. Gwen Margolis, D-Coconut Grove, introduced a bill proposing that the Sunshine State allow players to purchase lottery tickets online. If the bill is approved, Florida will become the eighth state to legalize online ticket sales.

“[The lottery is] one of the biggest fundraisers we have,” Margolis said. According to the latest gambling news, the Senator believes that legalizing online ticket sales would be much more beneficial for the state than building a casino resort in South Florida. This is a project Las Vegas Sands Corp. has been lobbying for over the past months.

“This way, anybody who wants to buy them can buy them. Expand that instead of having big problems with major gaming in the community,” she affirmed.

Opponents of the bill fear that allowing people to purchase tickets online would create more problems for gambling addicts. Brian Kongsvik, the helpline director of the Florida Council on Compulsive Gambling, says being able to use a line of credit would cause people to lose that sense of pulling money out of their pockets. But Margolis argued that gamblers “like to sit at the table” and enjoy “the social part of it”.

All seven states offering online lottery tickets have their own payment mechanisms. The bill introduced by Margolis doesn’t mention which method would be used in Florida. Bill SB 120 is a one-page proposal stating:

“[The Lottery] shall have the authority to create a program that allows a person who is 18 years of age or older to make an online purchase of a Florida lottery ticket. The department may adopt rules to administer the program.”

Sun Sentinel: Florida Lottery may go online

Florida legislators could make playing the lottery a lot easier if they approve a bill introduced by state Sen. Gwen Margolis, D-Coconut Grove, and allow the lottery to sell tickets online. At present, tickets can only be bought at brick-and-mortar outlets and stores.

The Florida Lottery was founded in 1988, when voters passed a constitutional amendment that authorized the organization two years before. Over the years, lottery sales helped bring in $27 billion for education. Most of that profit was put in a trust fund to be divided up by the state legislature.

The proposal has some people worried about the harmful effects it might have on gambling addicts, but Margolis doesn’t think the online lottery would have a negative impact. Problem gamblers “like to sit at the table,” she said.

Brian Kongsvik, the helpline director of the Florida Council on Compulsive Gambling explained: “With any online gambling, and the potential to use a line of credit, it loses that physical pulling money out of pocket.”

When it comes to legalizing gambling, the organization is neutral. However, Kongsvik fears that making lottery tickets that easily accessible could result in more people needing the help of his organization.

“In theory, there is no doubt about it that some individuals that have a gambling problem, or the potential to develop one, could use credit lines to gamble more than they normally would,” he explained.

Florida Courier: Florida Lottery sales hit record-setting $5.3 billion

As Florida residents become more and more obsessed with scratch cards and lottery tickets, the state lottery reported it had reached record sales of $5.3 billion earlier in July. While part of that profit goes to the state budget and educational programs, the organization spends between $28 million and $30 million on advertising every year.

Even before the Powerball or Mega Millions rollover jackpot spurred sales, the Florida Lottery posted $5.36 billion at its last sales report. The year before that, it was just over $5 billion. About 60% of the money goes to winners, leaving $1.49 billion for the Educational Enhancement Trust Fund.

The increased revenues were generated by a growth in ticket sales. Scratch-off tickets are available in more than 13,000 locations across the state, with prices ranging from $1 to $25. Over the past year, sales went up by 12.7%. The $25 ticket is the most popular one, accounting for $13 million in weekly sales. Powerball sold $469 million, Mega Millions made $167 million and Lotto reached $349 million.

Lottery Deputy Secretary of Sales Tom Delacenserie said: “If we have a $600 million jackpot or $550 million jackpot, we just get out of the way and the sales take off. Last year we didn’t get up that high.”

Florida Senator Gwen Margolis wants to allow lottery fans living in the Sunshine State to purchase their tickets online.While gambling bonuses are still a rarity in the US, offering lottery tickets via the internet is nothing new. Seven US states already sell tickets on their websites and Florida could soon join their ranks, if a bill proposed by State Senator Gwen Margolis passes.

However, the new bill has few details on how the web service would work. New York residents can buy tickets using credit cards; players living in Georgia use a prepaid lottery card system; Illinois limits online purchases to $150 a day and allows winnings to be deposited into an online account. In Florida’s case, these details haven’t been clarified yet.

In support of her proposal, Margolis argued that internet sales would help increase revenue for the lottery, which is among the state’s biggest fundraisers. On the other hand, many fear that stores will take a financial blow if players will be able to conveniently purchase tickets from the comfort of their own homes.

United Press International: Florida Lottery could sell tickets online if bill passes

Last week, Florida State Sen. Gwen Margolis, D-Coconut Grove, introduced a bill proposing that the Sunshine State allow players to purchase lottery tickets online. If the bill is approved, Florida will become the eighth state to legalize online ticket sales.

“[The lottery is] one of the biggest fundraisers we have,” Margolis said. According to the latest gambling news, the Senator believes that legalizing online ticket sales would be much more beneficial for the state than building a casino resort in South Florida. This is a project Las Vegas Sands Corp. has been lobbying for over the past months.

“This way, anybody who wants to buy them can buy them. Expand that instead of having big problems with major gaming in the community,” she affirmed.

Opponents of the bill fear that allowing people to purchase tickets online would create more problems for gambling addicts. Brian Kongsvik, the helpline director of the Florida Council on Compulsive Gambling, says being able to use a line of credit would cause people to lose that sense of pulling money out of their pockets. But Margolis argued that gamblers “like to sit at the table” and enjoy “the social part of it”.

All seven states offering online lottery tickets have their own payment mechanisms. The bill introduced by Margolis doesn’t mention which method would be used in Florida. Bill SB 120 is a one-page proposal stating:

“[The Lottery] shall have the authority to create a program that allows a person who is 18 years of age or older to make an online purchase of a Florida lottery ticket. The department may adopt rules to administer the program.”

Sun Sentinel: Florida Lottery may go online

Florida legislators could make playing the lottery a lot easier if they approve a bill introduced by state Sen. Gwen Margolis, D-Coconut Grove, and allow the lottery to sell tickets online. At present, tickets can only be bought at brick-and-mortar outlets and stores.

The Florida Lottery was founded in 1988, when voters passed a constitutional amendment that authorized the organization two years before. Over the years, lottery sales helped bring in $27 billion for education. Most of that profit was put in a trust fund to be divided up by the state legislature.

The proposal has some people worried about the harmful effects it might have on gambling addicts, but Margolis doesn’t think the online lottery would have a negative impact. Problem gamblers “like to sit at the table,” she said.

Brian Kongsvik, the helpline director of the Florida Council on Compulsive Gambling explained: “With any online gambling, and the potential to use a line of credit, it loses that physical pulling money out of pocket.”

When it comes to legalizing gambling, the organization is neutral. However, Kongsvik fears that making lottery tickets that easily accessible could result in more people needing the help of his organization.

“In theory, there is no doubt about it that some individuals that have a gambling problem, or the potential to develop one, could use credit lines to gamble more than they normally would,” he explained.

Florida Courier: Florida Lottery sales hit record-setting $5.3 billion

As Florida residents become more and more obsessed with scratch cards and lottery tickets, the state lottery reported it had reached record sales of $5.3 billion earlier in July. While part of that profit goes to the state budget and educational programs, the organization spends between $28 million and $30 million on advertising every year.

Even before the Powerball or Mega Millions rollover jackpot spurred sales, the Florida Lottery posted $5.36 billion at its last sales report. The year before that, it was just over $5 billion. About 60% of the money goes to winners, leaving $1.49 billion for the Educational Enhancement Trust Fund.

The increased revenues were generated by a growth in ticket sales. Scratch-off tickets are available in more than 13,000 locations across the state, with prices ranging from $1 to $25. Over the past year, sales went up by 12.7%. The $25 ticket is the most popular one, accounting for $13 million in weekly sales. Powerball sold $469 million, Mega Millions made $167 million and Lotto reached $349 million.

Lottery Deputy Secretary of Sales Tom Delacenserie said: “If we have a $600 million jackpot or $550 million jackpot, we just get out of the way and the sales take off. Last year we didn’t get up that high.”

First, it was Macau that reported decreased gambling revenues due to a shrinking pool of big spenders, and now Singapore is dealing with the same problems.

As Chinese authorities started a campaign to crack down on corruption earlier this year, high-rollers are staying away from casinos. There are two glitzy casino resorts in the country and they both used to have special VIP tables reserved for their most loyal – and most generous – customers. Now they’re both struggling without them and things are beginning to get ugly between the two competitors.

The resorts are run by American casino operator Las Vegas Sands and Malaysia’s Genting Resorts. The former reported a 34% drop in VIP volume at its Marina Bay Sands resort, while the latter is expected to post a similarly painful slide in its third quarter financial report.

When combined, casino profits in Singapore reach $6 billion per year, and big spenders account for about half of this revenue. As gambling laws don’t allow casinos in China, players usually flee to destinations like Macau or Singapore. But in the first half of 2014, the number of Chinese visitors was down 30% to 871,000, and profits followed the same downward trend.

Business Insider: The Battle For Singapore’s Shrinking Pool Of High-Rolling Gamblers Is Getting Ugly

Casino mogul Sheldon Adelson, chief executive of Las Vegas Sands, has accused its rival of offering overly generous incentives and credit to draw high-rollers to its Resorts World Sentosa.

During a company earnings call last month, Adelson said: “Maybe one day, they will get used to competing on the basis of a quality product, if they ever build one, and they won’t have to buy the business.”

Tan Hee Teck, president of Genting Resorts, admitted that the company’s casinos in Singapore will be facing some financial difficulties during the next few months or possibly even longer.

“I suppose some operators may not want to admit it, but at least from our side, we believe that the situation will continue to be quite challenging at least for the next 6 to 12 months,” he said.

Ever since they opened in 2010, these two casinos have been reporting billion-dollar revenues, mostly based on business brought in by Chinese high-rollers, a category of players which came to be vital to the success of these gambling venues.

In a note published on October 31, Fitch Ratings wrote: “Growth in Singapore gaming revenue has stalled, and is likely to contract slightly in 2014 with macroeconomic and political factors in China being the principal cause.”

TheStar: S’pore casinos brace for battle as VIP volumes fall

The two gambling venues in Singapore have been trying to rely less on casino revenue and push to earn more from entertainment, conference facilities, hotels and shopping. But even so, gambling brings in 80% of total profits for both Las Vegas Sands and Genting Resorts. They both boast profit margins of about 50%, the highest in the casino industry.

One way to lure more foreign high-rollers to a casino is to offer credit. With Singaporean players, this strategy doesn’t work because the state has set stricter rules for locals. Sometimes casinos also use commission, a small rebate on the amount of money they’ve spent.

Terence Tay, a former general counsel for Genting Singapore who now runs a consultancy explained: “Credit checks can be very fast for some gamblers – in 15 minutes or so you can probably get approval for US$1mil, and with US$1mil you can still roll up to US$8 or US$9mil.”

This plan sometimes backfires, as credit collection can turn out to be tricky. Singaporean casinos are already waiting on hundreds of millions of dollars to be repaid by gamblers who lost huge amounts of money. And the majority of these players are based overseas, so recovering the cash is even more difficult.

For Genting, “trade and other receivables” – which represents the money owed by customers – has seen a 61% rise since June 2012. In the quarter ending July 2014, player debt stood at S$1.2 billion. Total revenue has increased 7% in the same period.

Vicky Melbourne, head of industrials for South-East Asia and Australasia ratings at Fitch said: “What’s going to be the greater challenge to the Singapore operators, and certainly more longer-term, is that across the region, there’s a lot more political momentum to legalize casinos.”

The Straits Times: Luck running out for Singapore’s two casinos?

Earlier this year, UOB Kay Hian analysts have pointed out that Singapore’s casino market reached saturation in 2012. A year before that, total gaming revenue had reached a record amount of $7.92 billion; after that, it started to decline and went down 8.3% to $7.26 billion in 2012. It wasn’t until last year that casinos have started to recover, but the rebound was modest – just 3%.

Core earnings are also stagnating, with Marina Bay Sands earnings before interest, taxes, depreciation and amortization (EBITDA) coming in at US$1.5 billion in 2013, compared to US$1.4 billion the year before. Net profit was higher during its second quarter, but VIP and mass-market business was declining.

For Genting Singapore, EBITDA dropped from $1.35 billion in 2012 to $1.15 billion in 2013. Analysts concluded the resort has reached its full growth potential. According to online gambling news, this was partially because of the local Government’s heavy regulation of the casino industry, which imposes a $100 entry fee for Singaporean players and punishes companies for marketing their services to locals.

First, it was Macau that reported decreased gambling revenues due to a shrinking pool of big spenders, and now Singapore is dealing with the same problems.

As Chinese authorities started a campaign to crack down on corruption earlier this year, high-rollers are staying away from casinos. There are two glitzy casino resorts in the country and they both used to have special VIP tables reserved for their most loyal – and most generous – customers. Now they’re both struggling without them and things are beginning to get ugly between the two competitors.

The resorts are run by American casino operator Las Vegas Sands and Malaysia’s Genting Resorts. The former reported a 34% drop in VIP volume at its Marina Bay Sands resort, while the latter is expected to post a similarly painful slide in its third quarter financial report.

When combined, casino profits in Singapore reach $6 billion per year, and big spenders account for about half of this revenue. As gambling laws don’t allow casinos in China, players usually flee to destinations like Macau or Singapore. But in the first half of 2014, the number of Chinese visitors was down 30% to 871,000, and profits followed the same downward trend.

Business Insider: The Battle For Singapore’s Shrinking Pool Of High-Rolling Gamblers Is Getting Ugly

Casino mogul Sheldon Adelson, chief executive of Las Vegas Sands, has accused its rival of offering overly generous incentives and credit to draw high-rollers to its Resorts World Sentosa.

During a company earnings call last month, Adelson said: “Maybe one day, they will get used to competing on the basis of a quality product, if they ever build one, and they won’t have to buy the business.”

Tan Hee Teck, president of Genting Resorts, admitted that the company’s casinos in Singapore will be facing some financial difficulties during the next few months or possibly even longer.

“I suppose some operators may not want to admit it, but at least from our side, we believe that the situation will continue to be quite challenging at least for the next 6 to 12 months,” he said.

Ever since they opened in 2010, these two casinos have been reporting billion-dollar revenues, mostly based on business brought in by Chinese high-rollers, a category of players which came to be vital to the success of these gambling venues.

In a note published on October 31, Fitch Ratings wrote: “Growth in Singapore gaming revenue has stalled, and is likely to contract slightly in 2014 with macroeconomic and political factors in China being the principal cause.”

TheStar: S’pore casinos brace for battle as VIP volumes fall

The two gambling venues in Singapore have been trying to rely less on casino revenue and push to earn more from entertainment, conference facilities, hotels and shopping. But even so, gambling brings in 80% of total profits for both Las Vegas Sands and Genting Resorts. They both boast profit margins of about 50%, the highest in the casino industry.

One way to lure more foreign high-rollers to a casino is to offer credit. With Singaporean players, this strategy doesn’t work because the state has set stricter rules for locals. Sometimes casinos also use commission, a small rebate on the amount of money they’ve spent.

Terence Tay, a former general counsel for Genting Singapore who now runs a consultancy explained: “Credit checks can be very fast for some gamblers – in 15 minutes or so you can probably get approval for US$1mil, and with US$1mil you can still roll up to US$8 or US$9mil.”

This plan sometimes backfires, as credit collection can turn out to be tricky. Singaporean casinos are already waiting on hundreds of millions of dollars to be repaid by gamblers who lost huge amounts of money. And the majority of these players are based overseas, so recovering the cash is even more difficult.

For Genting, “trade and other receivables” – which represents the money owed by customers – has seen a 61% rise since June 2012. In the quarter ending July 2014, player debt stood at S$1.2 billion. Total revenue has increased 7% in the same period.

Vicky Melbourne, head of industrials for South-East Asia and Australasia ratings at Fitch said: “What’s going to be the greater challenge to the Singapore operators, and certainly more longer-term, is that across the region, there’s a lot more political momentum to legalize casinos.”

The Straits Times: Luck running out for Singapore’s two casinos?

Earlier this year, UOB Kay Hian analysts have pointed out that Singapore’s casino market reached saturation in 2012. A year before that, total gaming revenue had reached a record amount of $7.92 billion; after that, it started to decline and went down 8.3% to $7.26 billion in 2012. It wasn’t until last year that casinos have started to recover, but the rebound was modest – just 3%.

Core earnings are also stagnating, with Marina Bay Sands earnings before interest, taxes, depreciation and amortization (EBITDA) coming in at US$1.5 billion in 2013, compared to US$1.4 billion the year before. Net profit was higher during its second quarter, but VIP and mass-market business was declining.

For Genting Singapore, EBITDA dropped from $1.35 billion in 2012 to $1.15 billion in 2013. Analysts concluded the resort has reached its full growth potential. According to online gambling news, this was partially because of the local Government’s heavy regulation of the casino industry, which imposes a $100 entry fee for Singaporean players and punishes companies for marketing their services to locals.

Macau has had a few rough months during and after the World Cup in Brazil, but its streak of bad luck reached its peak in October.

When June reports showed a 3.7% year-on-year drop, industry experts blamed it on the World Cup sports betting craze and said things would pick up. Then revenues came in at just $3.6 billion in July, showing a 3.6% drop from the same period last year and they said Macau needs a bit more time to get back on track.

But as Chinese authorities continue their crackdown on casino corruption, an initiative which scared away a number of VIP customers, things have gotten serious. In October, total casino revenue fell by 23.2% in October compared to the same month of 2013.

The city’s gaming authority said total revenue was at 28 billion Macau patacas ($3.5 billion) this October, marking Macau’s worst financial performance since the gambling hub started recording such data in 2005.

Despite its recent downward trend, Macau continues to be the world’s largest gambling centre, way ahead of Las Vegas. The bad news is that the region relies heavily on casino revenue –mostly on the money spent by high-rollers – which seems to be on the decline. Moreover, it’s the only area where China allows casinos, a type of entertainment otherwise forbidden under the country’s gambling laws.

Reuters: Macau Oct gaming revenues fall 23 pct, drop worst on record

October was the worst month for Macau’s casinos and the fifth consecutive month of declines. Industry representatives blame it on China’s passive war on corruption, as well as on a decline in the number of tourists and a general slowing of economic growth, which makes people spend less on gambling.

“It is worse in October than it was before October,” Steve Wynn, chief executive of Wynn Macau, told a recent earnings call. “I don’t know if it is a squall or if we are in the rainy season, or how long it will last, but we are still very bullish on Macau.”

The American casino developer has started construction on another Macau project – a $4 billion integrated resort, which includes a lake and air-conditioned gondolas.

According to online gambling news, about 80% of Macau’s revenues rely on gambling, but China’s two-year anti-corruption battle has taken its toll on the local casino industry. Big spenders are now avoiding the area and choosing other destinations where they can freely spend their money. Profits from VIP customers accounted for just 56% of total revenues in the third quarter, which was a new low for Macau.

Las Vegas Sands chief Sheldon Adelson said these trends are cyclical. “It is only a matter of time before the cycle reverses itself. No one has ever suggested that the behavior of Chinese and Asian people, which has been established over a 3,000-year history, is going to change.”

Wall Street Journal: Macau Gambling-Revenue Drop Divides Investors

Making smart investments in casino stocks used to be pretty simple. Investors would just choose those companies that had bigger exposure in Macau, knowing that those were the names with the best prospects. Things have changed now that Macau has had its fifth straight month of revenue declines.

Hong Kong-based Central Asset Investments portfolio manager Armand Yeung said: “We were short. Now we’re just staying away from it.” Though valuations have become more reasonable and dividend yields are attractive, “there’s still a lot of debate”, he added.

When an analyst casino magnate Steve Wynn if he thought things were getting worse in Macau, he replied: “Oh, well, that’s an easy question. It’s worse in October than it was before October. So if you’re asking what is the nadir of our experience, it is current.”

Wynn added that Beijing’s efforts to combat corruption in Macau “has put a lot of the wealthy businessmen in the fox holes.”

Credit analysts are expressing concerns about Macau expansion plans, claiming that casinos will not be able to repay their debts if the slowdown in revenue continues.

Forbes: Macau Casino Revenue Falls, VIPs Blamed, Investors Rejoice

Figures released by the Gaming Inspection and Coordination Bureau showed a 3.7% decline in year-on-year revenue in June, with profits dropping to 27.2 billion Macau patacas or $3.4 billion. Industry representatives claim it was caused by a 20% drop in VIP attendance.

This was the first time when Macau’s monthly revenue fell since June 2009, which marked a low point for the city’s casino sector. Union Gaming Research Macau analysts Grant Govertsen and Felicity Chiang pointed out that from the decline in 2009, “Macau went on an unprecedented run [with] tripling of GGR from approximately US$15 billion in 2009 to US$45 billion in 2013.”

Between 2008 and 2009, Macau’s problem was mainly a matter of politics, with an overlay of economic factors. It could be the same this time around, as the 20% drop in VIP revenue is believed to be caused by President Xi Jinping’s anti-corruption campaign in China.

On the other hand, a report released by Morgan Stanley Asia in June cited economic factors from the mainland, while others blamed it on the World Cup, which Union Gaming conceded “could be responsible for a few hundred basis points of the VIP decline.”

Macau has had a few rough months during and after the World Cup in Brazil, but its streak of bad luck reached its peak in October.

When June reports showed a 3.7% year-on-year drop, industry experts blamed it on the World Cup sports betting craze and said things would pick up. Then revenues came in at just $3.6 billion in July, showing a 3.6% drop from the same period last year and they said Macau needs a bit more time to get back on track.

But as Chinese authorities continue their crackdown on casino corruption, an initiative which scared away a number of VIP customers, things have gotten serious. In October, total casino revenue fell by 23.2% in October compared to the same month of 2013.

The city’s gaming authority said total revenue was at 28 billion Macau patacas ($3.5 billion) this October, marking Macau’s worst financial performance since the gambling hub started recording such data in 2005.

Despite its recent downward trend, Macau continues to be the world’s largest gambling centre, way ahead of Las Vegas. The bad news is that the region relies heavily on casino revenue –mostly on the money spent by high-rollers – which seems to be on the decline. Moreover, it’s the only area where China allows casinos, a type of entertainment otherwise forbidden under the country’s gambling laws.

Reuters: Macau Oct gaming revenues fall 23 pct, drop worst on record

October was the worst month for Macau’s casinos and the fifth consecutive month of declines. Industry representatives blame it on China’s passive war on corruption, as well as on a decline in the number of tourists and a general slowing of economic growth, which makes people spend less on gambling.

“It is worse in October than it was before October,” Steve Wynn, chief executive of Wynn Macau, told a recent earnings call. “I don’t know if it is a squall or if we are in the rainy season, or how long it will last, but we are still very bullish on Macau.”

The American casino developer has started construction on another Macau project – a $4 billion integrated resort, which includes a lake and air-conditioned gondolas.

According to online gambling news, about 80% of Macau’s revenues rely on gambling, but China’s two-year anti-corruption battle has taken its toll on the local casino industry. Big spenders are now avoiding the area and choosing other destinations where they can freely spend their money. Profits from VIP customers accounted for just 56% of total revenues in the third quarter, which was a new low for Macau.

Las Vegas Sands chief Sheldon Adelson said these trends are cyclical. “It is only a matter of time before the cycle reverses itself. No one has ever suggested that the behavior of Chinese and Asian people, which has been established over a 3,000-year history, is going to change.”

Wall Street Journal: Macau Gambling-Revenue Drop Divides Investors

Making smart investments in casino stocks used to be pretty simple. Investors would just choose those companies that had bigger exposure in Macau, knowing that those were the names with the best prospects. Things have changed now that Macau has had its fifth straight month of revenue declines.

Hong Kong-based Central Asset Investments portfolio manager Armand Yeung said: “We were short. Now we’re just staying away from it.” Though valuations have become more reasonable and dividend yields are attractive, “there’s still a lot of debate”, he added.

When an analyst casino magnate Steve Wynn if he thought things were getting worse in Macau, he replied: “Oh, well, that’s an easy question. It’s worse in October than it was before October. So if you’re asking what is the nadir of our experience, it is current.”

Wynn added that Beijing’s efforts to combat corruption in Macau “has put a lot of the wealthy businessmen in the fox holes.”

Credit analysts are expressing concerns about Macau expansion plans, claiming that casinos will not be able to repay their debts if the slowdown in revenue continues.

Forbes: Macau Casino Revenue Falls, VIPs Blamed, Investors Rejoice

Figures released by the Gaming Inspection and Coordination Bureau showed a 3.7% decline in year-on-year revenue in June, with profits dropping to 27.2 billion Macau patacas or $3.4 billion. Industry representatives claim it was caused by a 20% drop in VIP attendance.

This was the first time when Macau’s monthly revenue fell since June 2009, which marked a low point for the city’s casino sector. Union Gaming Research Macau analysts Grant Govertsen and Felicity Chiang pointed out that from the decline in 2009, “Macau went on an unprecedented run [with] tripling of GGR from approximately US$15 billion in 2009 to US$45 billion in 2013.”

Between 2008 and 2009, Macau’s problem was mainly a matter of politics, with an overlay of economic factors. It could be the same this time around, as the 20% drop in VIP revenue is believed to be caused by President Xi Jinping’s anti-corruption campaign in China.

On the other hand, a report released by Morgan Stanley Asia in June cited economic factors from the mainland, while others blamed it on the World Cup, which Union Gaming conceded “could be responsible for a few hundred basis points of the VIP decline.”

Supporters of casino gambling in Japan have agreed to consider imposing limits for local players.

After a very long debate, Japanese lawmakers are finally ready to agree on the details of the country’s new gambling laws. Politicians have long said they were considering following Singapore’s model, a state which allows casinos, but makes them off-limits for locals. This is seen as a solution to protect citizens from the potential harms of problem gambling and addiction, while at the same time making profits from a flourishing industry.

Politicians fighting for the legalization of casino games in Japan have had a lot of pressure to deal with from opponents, who threatened to block the entire process unless similar limits were set for locals. They said in order for the new regulations to pass, it was essential that lawmakers address the issue of problem gambling.

The revision would boost chances that the bill will be passed this year as proponents hope, although it is not yet clear whether enough anti-casino lawmakers will be persuaded to provide the support it needs in both houses of parliament.

Analysts have predicted that the Japanese gambling market would be worth tens of billions of dollars a year and local authorities are hoping the newly-opened industry will help revive and boost the economy. But experts added that these figures are based on the participation of Japanese players too, and without them casino resorts would struggle to make a profit.

Reuters: Japan lawmakers say open to limits on casinos in push for bill’s passage

The Japanese Parliament is expected to discuss the matter the next week. According to online gambling news, adopting the legislation would be an essential first step to unlocking a highly profitable gambling market. Amendments have been proposed to the draft bill, which was shown to reporters on Thursday.

“The government, for the purpose of preventing the negative effects of casino facilities by non-foreign visitors, will take necessary measures regarding admittance and capacity…,” said the amended section to the bill.

If the revised regulations pass, gambling venues will be limited to tourists. Japanese media wrote casino supporters might accept these terms, to make sure the law passes. But while Prime Minister Shinzo Abe is hoping that casinos will boost the economy, researchers say these businesses will struggle without Japanese players.

Sheldon Adelson, chief operating executive of Las Vegas Sands Corp said: “From our standpoint, I will say that we will not be interested in Japan or any other country on a foreigners-only basis. We can’t do that. Our business model won’t allow it.”

The Diplomat: Casinos and Japan’s Gambling Addiction

Pachinko parlors have been very popular in Japan for a long time now. These businesses make an estimated $187 billion every year, making them the most profitable leisure activity in the country.

Pachinko is considered to be “gaming” not gambling, but the Japanese are known to be huge fans of all forms of betting, which is why US investors are pushing for politicians to lift the ban and adopt new legislation favoring casinos.

Under the country’s current laws, playing pachinko for money is illegal. While parlors are not allowed to hand out cash, they have managed to find a loophole. Once players gather enough silver balls, they are allowed to trade them in for a “special prize,” usually consisting in small things like candy or a cigarette lighter. But when they leave the venue, winners can exchange their prizes for cash.

A recent government survey revealed that nearly five million people show signs that they might be addicted to gambling. The number represents almost 5% of the country’s adult population. Besides pachinko, players have the option to bet on horse racing, bicycles and speedboats, and these activities are perfectly legal.

Prime Minister Shinzo Abe is hoping to boost tourism by legalizing casino gambling in the country, but authorities will have to come up with a policy to minimize the negative impact of gambling. Given how problematic addiction has become, introducing casino games in addition to pachinko could be a risky move.

GamingZion: Government Task Force to Help Speed up Casino Projects in Japan

The Japanese Government doesn’t have too much time to get the country’s casino industry going, so the administration has announced it was going to set up a special task force to help push things forward. Prime Minister Shinzo Abe has promised to legalize casino gambling a long time ago, as part of a reform to revive the local economy.

The casino bill has been stuck in the Diet for several months, but the administration is hoping that the new task force will help hasten the process. Some believe the initiative was meant to show foreign investors that the Government is dedicated to the cause.

Major American gambling companies said they were willing to spend billions of dollars to build resorts in Japan, once the casino bill passes. However, things need to move forward fast, in order to get everything ready for the 2020 Tokyo Olympics. If politicians don’t hurry up with the new legislation, they might miss out on billion-dollar investments.

Supporters of casino gambling in Japan have agreed to consider imposing limits for local players.

After a very long debate, Japanese lawmakers are finally ready to agree on the details of the country’s new gambling laws. Politicians have long said they were considering following Singapore’s model, a state which allows casinos, but makes them off-limits for locals. This is seen as a solution to protect citizens from the potential harms of problem gambling and addiction, while at the same time making profits from a flourishing industry.

Politicians fighting for the legalization of casino games in Japan have had a lot of pressure to deal with from opponents, who threatened to block the entire process unless similar limits were set for locals. They said in order for the new regulations to pass, it was essential that lawmakers address the issue of problem gambling.

The revision would boost chances that the bill will be passed this year as proponents hope, although it is not yet clear whether enough anti-casino lawmakers will be persuaded to provide the support it needs in both houses of parliament.

Analysts have predicted that the Japanese gambling market would be worth tens of billions of dollars a year and local authorities are hoping the newly-opened industry will help revive and boost the economy. But experts added that these figures are based on the participation of Japanese players too, and without them casino resorts would struggle to make a profit.

Reuters: Japan lawmakers say open to limits on casinos in push for bill’s passage

The Japanese Parliament is expected to discuss the matter the next week. According to online gambling news, adopting the legislation would be an essential first step to unlocking a highly profitable gambling market. Amendments have been proposed to the draft bill, which was shown to reporters on Thursday.

“The government, for the purpose of preventing the negative effects of casino facilities by non-foreign visitors, will take necessary measures regarding admittance and capacity…,” said the amended section to the bill.

If the revised regulations pass, gambling venues will be limited to tourists. Japanese media wrote casino supporters might accept these terms, to make sure the law passes. But while Prime Minister Shinzo Abe is hoping that casinos will boost the economy, researchers say these businesses will struggle without Japanese players.

Sheldon Adelson, chief operating executive of Las Vegas Sands Corp said: “From our standpoint, I will say that we will not be interested in Japan or any other country on a foreigners-only basis. We can’t do that. Our business model won’t allow it.”

The Diplomat: Casinos and Japan’s Gambling Addiction

Pachinko parlors have been very popular in Japan for a long time now. These businesses make an estimated $187 billion every year, making them the most profitable leisure activity in the country.

Pachinko is considered to be “gaming” not gambling, but the Japanese are known to be huge fans of all forms of betting, which is why US investors are pushing for politicians to lift the ban and adopt new legislation favoring casinos.

Under the country’s current laws, playing pachinko for money is illegal. While parlors are not allowed to hand out cash, they have managed to find a loophole. Once players gather enough silver balls, they are allowed to trade them in for a “special prize,” usually consisting in small things like candy or a cigarette lighter. But when they leave the venue, winners can exchange their prizes for cash.

A recent government survey revealed that nearly five million people show signs that they might be addicted to gambling. The number represents almost 5% of the country’s adult population. Besides pachinko, players have the option to bet on horse racing, bicycles and speedboats, and these activities are perfectly legal.

Prime Minister Shinzo Abe is hoping to boost tourism by legalizing casino gambling in the country, but authorities will have to come up with a policy to minimize the negative impact of gambling. Given how problematic addiction has become, introducing casino games in addition to pachinko could be a risky move.

GamingZion: Government Task Force to Help Speed up Casino Projects in Japan

The Japanese Government doesn’t have too much time to get the country’s casino industry going, so the administration has announced it was going to set up a special task force to help push things forward. Prime Minister Shinzo Abe has promised to legalize casino gambling a long time ago, as part of a reform to revive the local economy.

The casino bill has been stuck in the Diet for several months, but the administration is hoping that the new task force will help hasten the process. Some believe the initiative was meant to show foreign investors that the Government is dedicated to the cause.

Major American gambling companies said they were willing to spend billions of dollars to build resorts in Japan, once the casino bill passes. However, things need to move forward fast, in order to get everything ready for the 2020 Tokyo Olympics. If politicians don’t hurry up with the new legislation, they might miss out on billion-dollar investments.

Japan is getting closer and closer to that critical point where casino developers will lose their patience and turn their backs on any investment opportunity in the country.

Since experts estimated that Japan has the potential to become Asia’s second largest casino market, Prime Minister Shinzo Abe’s administration has been pushing for a change in Japanese gambling laws to open the door to major casino developers before the 2020 Olympics in Tokyo. With the way things are going, it looks like the big dream is not going to happen anytime soon.

For Japan, it’s not a matter of “sooner or later”. If investors don’t have sufficient time to make their plans, obtain approval and start building, the effort will not be worth it. Having a favorable regulatory system as soon as possible was crucial for the success of the country’s gambling market. It’s becoming increasingly unlikely that everything will be ready in time for the Olympics.

Reuters: Costs, politics erode chances for a Tokyo casino by 2020

Japanese casino supporters are starting to panic as plans to change the country’s gambling legislation don’t seem to be coming together. As time passes and authorities are still undecided whether to approve the new casino bill, plans to open the first casino in Tokyo before the 2020 Olympics are becoming increasingly unlikely.

Even though Prime Minister Shinzo Abe has repeatedly stated that legalizing casino games is one of his main objectives, recent gambling news say building costs are skyrocketing, and the city government is not treating casino development as an economic priority anymore.

For months, casino companies have courted the governments of Tokyo and Osaka, hoping that they will convince them to open the market. Analysts have touted Japan as one of the world’s biggest untapped markets for gambling, but authorities are still undecided.

Major casino operators like Las Vegas Sands, Genting Singapore, MGM Resorts and Melco Crown Entertainment have proposed billion-dollar plans for the area, in order to position themselves as potential candidates for a license, should the casino bill be approved.

The parliament just began its autumn session, and the casino bill should be debated. Supporters of the idea are hoping that politicians will make a decision, giving the administration enough time to approve the bill and start making plans by 2015. But costs have become an issue and the Tokyo government is considering scaling back its plans for the Olympics.

Satoshi Okabe, a senior manager at a project being developed by Dentsu, said: “The reality is that preparations for the Olympics are going to be pretty challenging. Casinos are secondary. Building costs are going to spike and foreign casino operators are going to find investment returns inefficient.”

Meanwhile, Osaka is making progress with its plans for a casino and Caesars Entertainment is still interested. “We are actively in talks with potential Japanese partners about an Osaka project,” said Steve Tight, president for international development for Caesars.

Forbes: Japan Forms Casino Task Force To Boost Flagging Momentum

At the end of August, Prime Minister Shinzo Abe’s government announced that it was going to create a task force help speed up preparations for casinos in Japan. Decision-makers have postponed the issue for a while now, but the Abe administration is hoping the task force will revive momentum for the resorts to be open in time for the 2020 Olympic Summer Games in Tokyo.

Some major gaming companies said they were willing to spend as much as $5 billion or more to build integrated resorts in the country’s largest cities, but financial experts doubt that the Japanese market is worth that level of investment.

The casino legalization bill was introduced in December 2013, but the Diet didn’t include it in its June voting session. The issue was brought up for debate just a few days before the session closed, so there is still hope that it might come up again during the special session held in autumn.

A report released by Morgan Stanley says Japan is facing many issues in its ambitions to build integrated casino resorts. Analysts Praveen Choudhary, Thomas Allen and Alex Poon have concluded that the country’s gambling market may not be as profitable as casino developers are hoping.

GamingZion: Major Casino Developers Eager to Join the $40 Billion Japanese Casino Market

Experts agree that a casino industry in Japan could potentially generate a yearly profit of $40 billion. The news has convinced the world’s largest casino developers that they must have a share of that juicy revenue, so developers like Melco Crown Entertainment, Las Vegas Sands, MGM Resorts, Wynn Resorts and Caesar’s Entertainment Group have all pledged to invest billions of dollars.

Melco CEO Lawrence Ho said the company was willing to spend as much as $5 billion on a new investment in Japan, should the new law pass. The developer sees it as the perfect opportunity to expand outside of Macau.

Las Vegas Sands, Wynn and MGM are also interested in the Japanese casino market, and Caesars Entertainment has already presented its plans for a $5 billion resort, as Chief Executive Officer Gary Loveman said the company “will have no trouble raising the finance for a world-class facility in Tokyo.”

Japan is getting closer and closer to that critical point where casino developers will lose their patience and turn their backs on any investment opportunity in the country.

Since experts estimated that Japan has the potential to become Asia’s second largest casino market, Prime Minister Shinzo Abe’s administration has been pushing for a change in Japanese gambling laws to open the door to major casino developers before the 2020 Olympics in Tokyo. With the way things are going, it looks like the big dream is not going to happen anytime soon.

For Japan, it’s not a matter of “sooner or later”. If investors don’t have sufficient time to make their plans, obtain approval and start building, the effort will not be worth it. Having a favorable regulatory system as soon as possible was crucial for the success of the country’s gambling market. It’s becoming increasingly unlikely that everything will be ready in time for the Olympics.

Reuters: Costs, politics erode chances for a Tokyo casino by 2020

Japanese casino supporters are starting to panic as plans to change the country’s gambling legislation don’t seem to be coming together. As time passes and authorities are still undecided whether to approve the new casino bill, plans to open the first casino in Tokyo before the 2020 Olympics are becoming increasingly unlikely.

Even though Prime Minister Shinzo Abe has repeatedly stated that legalizing casino games is one of his main objectives, recent gambling news say building costs are skyrocketing, and the city government is not treating casino development as an economic priority anymore.

For months, casino companies have courted the governments of Tokyo and Osaka, hoping that they will convince them to open the market. Analysts have touted Japan as one of the world’s biggest untapped markets for gambling, but authorities are still undecided.

Major casino operators like Las Vegas Sands, Genting Singapore, MGM Resorts and Melco Crown Entertainment have proposed billion-dollar plans for the area, in order to position themselves as potential candidates for a license, should the casino bill be approved.

The parliament just began its autumn session, and the casino bill should be debated. Supporters of the idea are hoping that politicians will make a decision, giving the administration enough time to approve the bill and start making plans by 2015. But costs have become an issue and the Tokyo government is considering scaling back its plans for the Olympics.

Satoshi Okabe, a senior manager at a project being developed by Dentsu, said: “The reality is that preparations for the Olympics are going to be pretty challenging. Casinos are secondary. Building costs are going to spike and foreign casino operators are going to find investment returns inefficient.”

Meanwhile, Osaka is making progress with its plans for a casino and Caesars Entertainment is still interested. “We are actively in talks with potential Japanese partners about an Osaka project,” said Steve Tight, president for international development for Caesars.

Forbes: Japan Forms Casino Task Force To Boost Flagging Momentum

At the end of August, Prime Minister Shinzo Abe’s government announced that it was going to create a task force help speed up preparations for casinos in Japan. Decision-makers have postponed the issue for a while now, but the Abe administration is hoping the task force will revive momentum for the resorts to be open in time for the 2020 Olympic Summer Games in Tokyo.

Some major gaming companies said they were willing to spend as much as $5 billion or more to build integrated resorts in the country’s largest cities, but financial experts doubt that the Japanese market is worth that level of investment.

The casino legalization bill was introduced in December 2013, but the Diet didn’t include it in its June voting session. The issue was brought up for debate just a few days before the session closed, so there is still hope that it might come up again during the special session held in autumn.

A report released by Morgan Stanley says Japan is facing many issues in its ambitions to build integrated casino resorts. Analysts Praveen Choudhary, Thomas Allen and Alex Poon have concluded that the country’s gambling market may not be as profitable as casino developers are hoping.

GamingZion: Major Casino Developers Eager to Join the $40 Billion Japanese Casino Market

Experts agree that a casino industry in Japan could potentially generate a yearly profit of $40 billion. The news has convinced the world’s largest casino developers that they must have a share of that juicy revenue, so developers like Melco Crown Entertainment, Las Vegas Sands, MGM Resorts, Wynn Resorts and Caesar’s Entertainment Group have all pledged to invest billions of dollars.

Melco CEO Lawrence Ho said the company was willing to spend as much as $5 billion on a new investment in Japan, should the new law pass. The developer sees it as the perfect opportunity to expand outside of Macau.

Las Vegas Sands, Wynn and MGM are also interested in the Japanese casino market, and Caesars Entertainment has already presented its plans for a $5 billion resort, as Chief Executive Officer Gary Loveman said the company “will have no trouble raising the finance for a world-class facility in Tokyo.”