More high rollers are paying their debts to casinos, according to a recent Associated Press story. Casinos extend credit to thier wealthiest clients, but often assume that some of it will not be paid back
The Securities and Exchange Commission closed its investigation of a large donation made by Wynn Resorts to the University of Macau. The agency was investigating whether the donation violated the Foreign Corrupt Practices Act, but chose not to punish the company for the gift. So, what does this mean for other companies that are under investigation for corruption in Macau?
Nevada is officially wagering on online gambling, and approved the nation's first legal cash online poker website. Right now, online gambling sites must partner with casinos. As the industry expands, how will it change the casino business? And what are some of the obstacles that still stand in the way of online gambling companies? Two experts will explain the business of gambling, and what might happen as it moves online.
Broken Tooth was one of Macau's most notorious gangsters when he was locked up in 1998, shortly before Portuguese authorities handed the territory back over to the Chinese government. In the years since, the city has tranformed from a lawless backwater to an international gambling destination.
Nevada gaming regulators have long been picky about the businesses and individuals they allow licensed casino operators to partner with. The rules were designed to keep out criminals and their enterprises but as casinos have gone abroad and tried to move into the online business, the whole idea of keeping casinos separate from any dubious enterprise has become much trickier.
Visitors to Las Vegas have changed their habits a little bit over the past few years. Tourists are spending less on gambling and more on things like entertainment and restaurants. According to the Las Vegas Convention and Visitors Authority's Visitor Profile Study gamblers budgeted $447.63 for gaming in 2011, down from $466.20 the previous year. Meantime tourists spent $274.69 on restaurants and beverages in 2011 compared to $256.82 in 2010, a seven percent increase. We discuss how the Las Vegas visitor is changing and what casinos are doing to adjust.