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21 Sep 09 Illinoi’s praise-worthy Act to fund treatment for problem gamblers

A study published in Psychological Medicine magazine that was conducted in 2008 reported an uncontrollable gambling rate of 0.6 percent and a problem gambling rate of 2.6 percent among the general U.S. population. Joanna Franklin, an expert in the area of problem gambling and President of the Institute on Problem Gambling in Baltimore, Maryland, sees that treatment rather than prohibition is the best way to treat problem gamblers. She adds, “Problem gamblers are not without options. They will go to a racetrack or casino or the Internet if they can’t find a video gaming machine.

Franklin has also set-up and done clinical treatment programs in forty-five states, thirty-one Indian tribes, ten Canadian provinces, and nine countries. Gamblers would only resort to other options with the prohibition of video gambling machines. With the unrelenting technological innovation and the Internet’s open architecture, online gambling would create a strong drawing power for gamblers, a detour behind domestic prohibitions against certain forms of gambling.

In response to this concern, there is a movement going in Congress to change Internet gambling laws in the US. Leading the campaign for a regulated Internet gambling industry is Representative Barney Frank. Franklin praised Illinois for its Video Gaming Act which provides $2.5 million to the Department of Human Resources for the funding of treatment programs for problem gamblers.

The lawmakers in Illinois have given each of the cities and towns the discretion to decide matters regarding video gambling machines. A number of towns have banned the machines while other cities looked at the financial advantage of keeping the video gambling machines. They allowed licensed liquor establishments to operate up to five gaming machines as long as the devices are situated in areas way from minors and only accessible to adults. To help fund the capital bill, twenty-five (25%) of the revenues earned by establishments from the gaming machines will go to the state while another five (5%) will go the local municipality where the gaming devices are located.

Coin machine operators have also raised opinions regarding the Act. Tom Fiedler, president of the Illinois Coin Machine Operators Association, said that gambling affects only a small percentage of the population in comparison to alcohol abuse. He added that of those adults who do gamble, the vast majority do so strictly for its entertainment value. He points out that there is nothing wrong with video machine gambling.

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18 Sep 09 British Lottery enters the online market

The United Kingdom is well recognized as one of the world’s leading gambling markets. This is true of both the traditional land based format and of course the newer, online gambling format. The fact of the matter is that the activity of gambling is actually quite central to the culture of the British as this is something that they would take part in at the pub which as the rest of the world knows, is a crucial part of their culture. This is in combination with the fact that there is also a lot of popularity when it comes to sports and betting on the results. At first this was mainly to do with horse and dog racing, but now this has expanded and there are companies such as William Hill and Ladbrokes that do a brisk trade when it comes to the fans betting on the fortunes of their favorite football teams. If one just stops to think about how much international interest there is in the English Premier League, it is clear that there are great big volumes of money that are being spent on a weekly basis.

Now that the convenience of the online medium of gambling has been proved, it is clear that there is a lot of interest in how to take advantage of this. It is certainly a thought that the British Lottery Corporation has had in the past. The corporation has now gone on to do something about it and it was recently announced that the company is to take its lottery into the online medium. This means that people will no longer have to pop down to the local corner store, but they will be able to just go straight onto a web site and buy their tickets from there.

The corporation expects to see a lot of activity now that there is an online service available and this is very good news for the lottery. As it is done in the United States, the United Kingdom makes use of these funds for charitable causes such as feeding schemes, sports facilities and the refurbishment of historical buildings. It is a source of financing that the governments of both countries have come to rely on more heavily during this time of economic crisis and therefore there is a great deal of hope attached to the success of this new endeavor.

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15 Sep 09 Gambling Proceeds from Las Vegas Strip, Atlantic City Casinos Drop

The gambling industry has been hit hard by the economic recession. The two biggest gambling hubs in the United States, Las Vegas and Atlantic City are taking the strain brought on by the worst financial disaster since the depression. Records from the Nevada Gaming Control Board show an 11 percent drop in Las Vegas gambling revenue in July from a year earlier. Las Vegas Strip earnings dropped to$461.3 million in July, the 19th straight fall. For the first seven months of 2009, a 14 percent decline in gambling proceeds was recorded, compared to an 11 percent drop in 2008.

Casino gambling in the strip has declined since September 2008, with an above 10 percent fall in every month, except in the month of May which noted a 6.4 percent fall. Betting was also recorded to be on the wane to as much as 23 percent in February and 26 percent in October. Several companies have cancelled their conferences, which compelled Las Vegas casinos to reduce their room rates and give special offers. According to figures, convention attendance fell 26 percent. The Clark County Department of Aviation reported a 12 percent decline in airport passenger traffic in Las Vegas as several airlines reduced capacity. According to data released by the Las Vegas Convention & Visitors Authority, around 21.4 million people went to Las Vegas from January to July of 2009, a drop of 6 percent from last year.

Officials from MGM Mirage and Wynn Resorts Ltd. were quoted as saying that after the release of second quarter results, business has started to get steady. “Less worse is the new operative term,” in Las Vegas, Joel Simkins, an analyst at Macquarie Securities USA Inc., said in an interview last month. “We still remain very cautious with the expected onslaught of City Center this December and its predicted opening will cast a pall over Las Vegas Sands, Wynn Resorts, as well as other major operators on the Strip.” City Center is owned by MGM Mirage, the largest casino owner in the Strip. It is Las Vegas’ biggest development by far, and is scheduled to open in December.

The last increase seen in Las Vegas gambling revenue was in December 2007 which was less than 1 percent. In Atlantic City, the New Jersey Casino Control Commission said gambling proceeds dropped to $391.7 million. It recorded a 16 percent decline in August. Gambling profits declined at all 11 casinos last month. The first eight months of this year saw a drop of 15 percent to $2.71 billion, compared to a drop of 7.6 percent in 2008. Gambling table earnings in Atlantic City’s casinos fell 20 percent to $115.6 million. Slot machines recorded a drop of 15 percent to $276.1 million. Atlantic City’s casinos are being threatened by competitors in nearby states and cities. In May, Las Vegas Sands opened a casino in Bethlehem, Pennsylvania, taking gamblers and patrons out of Atlantic City casinos.

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14 Sep 09 Luck lies around Casinos mammoth play-offs

The four greatest group online casinos; Royal Vegas, Platinum Play, 7Sultans and Vegas Palms are hosting several mammoth online casino tournaments which are meant to do something as amass to the Splendid blast of Slots online tournament, which will start this coming October 22 to November 02, 2009.

The prize of the competition is the Car Giveaway. Each occasion has to pay money for the amount of $10 and a rebuy amount of $10. The original of this competition was participated on the slot game Hitman and finished on July 26. The pompous and satisfied Maria C won the new car and she also won 3,000 bonus credits. As a whole 32 players won bonus credits scaling from 50 to 3,000. The Car Giveaway 2 is recently in development and advancement on the online slot game Thunderstruck. This will finish on August 23 and in a few days we will get to know who will be the fortunate and blessed to win the second new car. The ultimate Car Giveaway will be competed from August 25 to September 20, 2009 on Tomb Raider, the slot game of Lara Croft fame. There will be fourth occasion which is the Last Chance which will be competed on Avalon from September 22 to October 18, 2009, this time this competition does not have a car as a prize. Every one of these four events will be given 100 complimentary entries to the splendid blast of slots.

The whole celebration of the competition at the Mammoth play-offs online casinos is a 16 week event which happening from 1st of July until 18th of October. There will be 8 elite and special Freeroll Tournaments and 8 Auspicious Draw Tournaments which will be in custody on alternating weeks. Four of the elite and special Freerolls are yet to be competed. These online competitions are Freeroll but the rebuys will charge of $20. Hitman and Thunderstruck are the slots chosen and selected for the outstanding and lasting tournaments. The prize fund differs from $15,600 to $16, 600 and every affair will give 60 open admissions to the splendid blast of slots.

Likewise at hand four of Lucky draw tournaments are yet to be competed and these online competitions are also freerolls but there are no rebuys. The impressive and vast aspect and element of these tournaments is that players can bet and gamble on their much loved slot games. The prize funds differ from $500 to $1,550 and every event will give five open admissions to the splendid blast of Slots. The final Lucky Draw tournament will finish on the 18th of October and from October 22 the splendid blast of Slots tournament will inaugurate. This affairs offers €1,000,000 for the first place winner and €299,500 to the remaining winners. You have nothing to worry about, because these online casino groups are powered by Microgaming and licensed by the Kahnawake Gaming Commission and they have all been affirmed and confirmed reliable and trustworthy by eCOGRA. So hurry and check it out and grab the chance to win the second brand new car. Have fun!

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12 Sep 09 Casino launch in Greenbrier

Greenbrier is a four star and triple A five diamond rated luxury hotel and resort situated in the town of White Sulfur Springs in Greenbrier County, West Virginia. Its new owner, Jim Justice, has initiated necessary actions to implement his plans of putting up a casino center in Greenbrier.

Jim Justice is one of the most successful entrepreneurs in West Virginia and engaged in growing coal and agriculture as his primary business ventures before he bought the Greenbrier resort. He bought the resort out of bankruptcy way back in May for a sum of $20 million. Now, he dreams of turning this luxury resort into something that will not only offer relaxation but entertainment as well.

The planned casino gaming center located in the resort is said to be only a part of the master plan. Greenbrier is to offer upscale options to its patrons like spa treatments, golf and restaurants that will cater to each of their clients’ demands.

The facility in its entirety would be 82,000 square feet and is expected to hold around four hundred slot machines as well as forty tables for games like poker. “It’ll be a classy kind of pause,” said Justice, “This casino will be one of a kind. Something West Virginians will be proud of.” Each guest will be well accommodated by corresponding staff members hired to facilitate and handle the new facilities installed. With the new Greenbrier up and coming, thousands of people are given the opportunity to be employed in this luxurious resort.

There has been talk that the new Greenbrier will open a temporary casino in October which will accommodate only limited guests. This will be considered a trial period for the resort to see how things will work out and make adjustments before catering to a larger crowd. This should also be approved by the Lottery Commission first and so the management is doing their best to gain approval. The permanent casino is expected to be ready in April of next year and everyone is very much excited about it.

“What we are looking at here is the possibility of the classiest casino in the nation,” an observer, Carol Bentler said, “If the end result of the new Greenbrier is anywhere near what it looks like it will be, this should be a huge success story for West Virginia.”

Plenty of people are anticipating the opening of the new Greenbrier casino as it offers a one-of-a-kind classy casino center.

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11 Sep 09 Gambling issues overcome in southeast Europe

Gambling is a great source of income in several countries since it generates huge taxes. In the southeastern part of Europe, gambling has increased its popularity and gained higher revenue. But along with this, issues arising from gambling institutions have also grown in number. Local governments in southeast Europe claim that gambling institutions have caused a minor headache recently with tax evasion and its part in money laundering controversies.

A report from the Organized Crime and Corruption Reporting Project states that approximately 1.5 billion Euros is staked at gambling institutions located in the southeast part of Europe annually. Therefore, it is expected that this industry would contribute a substantial amount in government earnings through tax revenues. Serbia, for one, has earned 12 million Euros in its first quarter of annual operation and Bulgaria generating a stunning 57 million for the year 2008. This goes to show that the gambling industry is truly a hit in southeast Europe and would be a significant contributor to the local economy. Regional investigative journalists found out though that some of these gambling institutions do not adhere to local regulations and do not submit the correct financial statements to avoid paying taxes. Furthermore, it was found out that the gambling industry in Balkan is associated with organized crimes since gambling houses here are sometimes used for money laundering transactions done by criminal groups.

On the other hand, gambling businesses in general have helped the economy in southeast Europe through providing employment for its people. Studies show that 1,600 jobs have been offered in Macedonia with the rise of gambling institutions. It also pays more than the national salary average. An estimated 80,000 slots were also created in Bulgaria for those who were looking for job opportunities and again pays its workers twice the national salary average. Not only does it contribute through taxes but also through providing additional employment.

Local governments in southeastern Europe are now taking action in regulating gambling industries to lessen the crime rates. Bosnia already has a law on simplified tax rate of 10% which has replaced the varied rates in the 10 cantons. In 2004, a law was introduced in Serbia which has increased the control of the state over the gambling industry.
Casinos were not allowed to continue running if they have not acquired the new license to do business in this type of industry. Lastly, Bulgaria has established ways on easy monitoring of its gambling sector and is continually looking for ways to improve the regulations to gain more control on the gambling industry.

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