Baccarat Contributes To Casino Revenue Rise

In January, adding momentum to the recovery for the largest U.S. casino market, Las Vegas Strip gambling revenue increased 29 percent to $623.5 million on a surge in baccarat play.

The Nevada Gaming Control Board said today in a website statement that the revenue for all of Clark County, including the Strip and downtown, increased 22 percent from a year earlier to $925.5 million.

According to Mark Lipparelli, board chairman, a surge in baccarat linked to the Chinese New Year drove the gain. January also benefited from the Shooting, Hunting & Outdoor Trade show, Union Gaming Group LLC and the Consumer Electronics Show. The Chinese New Year fell on Jan. 23 this year.

Casino revenues increased more than 29 percent on the Las Vegas Strip, Nevada’s tourism and gambling Mecca. In January 2011, Casinos took in $624 million from gamblers compared with $483 million.

In January, casinos won $194.8 million, a nearly 200 percent increase and the drop or amount wagered on baccarat was $1.6 billion, up $965 million compared with last year. On football bets, Casinos on the Strip won $8.1 million and held 7.1 percent. (In January 2011, the hold was only 2.5 percent.) As the bettors’ luck improved from the year before, the hold on sports parlay cards fell by 13 percent.

Senior research analyst for the board, Michael Lawton said the game and table win on the Strip was the highest ever. However, slot win inched down 0.4 percent, the gross Strip win in Blackjack declined 11.9 percent and craps was off 4.1 percent. There was a 27.4 percent increase reported on Roulette on the Strip. There was a drop in winnings in other slots such as the 5 cent, 25 cent and the $1 machines, although he said the penny slots and the multi denomination machines showed increases.

The board reported gross win by the balance of Clark County was up 4.8 percent, Mesquite rose 5.4 percent, the Boulder Strip increased 8.7 percent, Laughlin gained 6.2 percent, North Las Vegas was up 15.6 percent and Las Vegas casinos rose 13.7 percent.

However, in Northern Nevada, the story was a different one. Only South Lake Tahoe casinos reported a gain, of 2 percent for the month. Elko County clubs dropped 2.1 percent in their gross win, Carson Valley Area fell 3.7 percent and Casinos in Washoe County dropped 6.1 percent in their gross win. For January 2011, the state collected $57.3 million in gaming tax, down 16.3 percent.

Common Myths on Baccarat

BaccaratBaccarat is one of the easiest and one of the most popular card games being played in a casino. Winning any game is not simple although there are numerous ways to increase such chance. So as to avoid being at the loser side, there are also a lot of things a player can work upon and eventually be on top of this game of baccarat. With the popularity of baccarat, myths have also cropped up. This write up will bust few myths related to Baccarat.

Myth #1: Only rich aristocratic people play Baccarat

In the past when baccarat just started its voyage to American casinos, the above statement was actually true but things have changed drastically today. Many baccarat variations have appeared and each of us now have a chance to admire this game both in casinos and online.

Myth #2: Baccarat has a particular pattern to play

Baccarat has a particular pattern to play is not actually true because your chances for winning does not depend on how many times Banker or Tie won, rather baccarat is the game of luck. Although, to bet on Banker is more profitable, it does not mean this decision will always make you win.

Myth #3: Baccarat can work on card counting, same as blackjack

It is usually believed that card counting system works for baccarat card game, just like in blackjack, as both blackjack and baccarat are played with the same deck of cards but this is a big myth. At baccarat, it is impossible to count cards. Chance and luck are crucial in Baccarat.

Myth #4: Baccarat systems are helpful.

As mentioned earlier, Baccarat is a game of chance and luck and it is a big myth that the so-called baccarat systems are helpful. They are rather just a waste of time and money. It is better to rely on your intuition than to waste money on baccarat systems.

Baccarat Online Basics

BaccaratBaccarat is a fascinating game. The game plays automatically, once you place your bet in Baccarat and there is nothing you can do to perk up your opportunities of winning. To make your time playing at a Baccarat table more pleasurable as well as limit your losses, there are some things you can do ad they are as follows:

Tip #1

On tie, it is alluring to place some money. The seemingly liberal payout is nowhere near enough to compensate for the odds of hitting this long shot, even though casinos usually offer 8-to-1 or 9-to-1 payouts when a player wins with a tie bet.

Tip #2

When you go to the Baccarat table, you will want to have a little extra cash in your pocket because you will owe a 5% commission for every Banker bet you win. This money is not instantaneously collected by the dealer. How much commission each player owes, the dealer keeps track.

Tips #3

Never bet more money than you possess. With gambling debt, you’ll have nothing’ to show for your dilemmas. Set limits, when you are up, leave the table and do not think you can “stick out” a losing streak.

Tips #4

One should never place illogical bets. When bettors hit a losing streak, winning Baccarat strategies to be tossed out the memorable window. An average 14% house edge is with the Tie, which will decimate your bankroll.

Tips #5

Baccarat is a game of chance. Working progressive betting systems and attempts at card counting are a waste of time.

VIP Baccarat Generates $5.3 Billion Gross Revenue

BaccaratIn the first quarter of 2011, VIP baccarat produced gross revenue of MOP42.57 billion (US$5.3 billion), accounting for 73 percent of the Macau casino sector’s overall gross gaming revenue.

According to official data from the Gaming Inspection and Coordination Bureau, the revenue from VIP baccarat augmented by 48 percent year-on-year.

This means that than the overall market, VIP baccarat grew quicker. In the first three months of 2011, gross gaming revenue boosted by 43 percent year-on-year. The second most well liked casino game was mass-market baccarat, generating revenue of MOP10.6 billion, 32 percent more than the year before.

With MOP2.72 billion in revenue, slot machines had the third step on the podium. Slot machines also persist to augment their presence in the local gaming industry as the leap in the revenue was of 40 percent. Of overall casino gross gaming revenue, slots accounted for 4.65 percent. For the gaming sector, baccarat was also one of the most lucrative businesses, with gross revenues of MOP 10.6 billion. The revenue was up 32.2 percent year-on-year.

Altogether, for the first quarter of 2011, baccarat accounted for almost 90.8 percent of casino revenues. In the first quarter of 2011, the number of gaming tables grew by 62 to a record high of 4,853. Last March, Francis Tam Pak Yuen, secretary for Economy and Finance said that in the next three years, it would allow only around 700 additional gaming tables, setting a 5,500-table cap.

Taiwan Completed A Draft Gambling Bill on Monday

casino gamblingAccording to the Agence France Presse, on Monday, Taiwan completed a draft gambling bill in a fresh attempt to bring casinos to the island, which is split between those who are perturbed by the betting industry’s drawbacks and others who want jobs.

In 2009, a referendum saw one of Taiwan’s outlying islands reject plans for a casino, although it has not deterred similar attempts being made. The ministry of transportation and communication has completed a draft of the bill and is scheduled to submit it to parliament for approval in September, officials said.

Kinmen and Matsu, two Taiwan controlled island groups off China’s southeastern Fujian province, want to open casinos. Each year, tens of thousands of Chinese tourists visit Matsu and Kinmen.

County Magistrate Yang Suei-sheng admitted that a casino could have negative consequences as claimed by opponents but said he believed they could be offset and in any case Matsu residents will have the final say during a referendum later this year.

In January 2009, the island government pushed through a controversial bill in parliament to lift a decade’s long ban on casinos, allowing offshore islands to build them only if approved by local residents in a referendum.

Yang said the county government will discuss its plans with central government officials, who are scheduled to hold a public hearing on a gambling bill in Matsu April 22.

How To Deal With Gambling Addiction?

For a lot of people gambling addiction has been a major problem. Numerous gamblers are not able to deal with their habit, even after taking the required treatment.

The reason for this problem has been discovered, in a new study. It is believed that every gambling habit cannot be treated in the same procedure, as per the study. Every gambler is different and should be treated in a procedure that is appropriate for him.

Even though it is difficult to predict which style of treatment is best for various forms of gambling addiction, a new Wayne State University study has suggested that gambling addiction treatment is not one size fits all. There may be up to three different sub-types of people with serious gambling problems, According to David M. Ledgerwood, of the Wayne State University.

One group, emotionally vulnerable (EV) gamblers, had higher psychiatric and gambling severity and was more likely to have a parent with psychiatric problems as compared to another sub-type, behaviorally conditioned (BC) gamblers. BC gamblers are thought to start gambling because they get caught up in elements of reward associated with the game, rather than to soothe emotional problems.

Ledgerwood said, in addition, they found that antisocial impulsive (AI) gamblers also had elevated gambling and psychiatric severity when compared to BC gamblers. He further added, that group was most likely to have antisocial personality disorders, a history of substance abuse treatment, and a parent with substance abuse or gambling problems.

Recovery patterns did not vary among the different groups, although the study included various levels of gambling addiction severity throughout treatment and follow-up. Therefore, sub-typing gambling addiction does not predict treatment outcomes beyond a simple association with gambling severity.

Ownership Transfer Finalized for Hard Rock

Morgans Hotel Group Co.’s Hard Rock joint venture attained an agreement with its lenders. To a fund in command of Brookfield Asset Management Inc., the agreement gives the joint venture’s equity stake in the Hard Rock Hotel & Casino in Las Vegas. For the property east of the Las Vegas Strip, the agreement concludes Morgans’ management contract. As a result of the agreement, gaming regulations on Morgans, which in the past, compelled compliance costs, suitability requirements on stockholders, all of these will no longer be relevant.

On about $1.4 billion in debt, the Hard Rock Hotel & Casino has been under pressure to make payments. Morgans and DLJ Merchant Banking Partners, a private equity company affiliated with Credit Suisse are the owners of the casino-hotel. Besides the debt defaults, last year by Nevada regulators, Morgans and Credit Suisse Group AG, experienced from management dilemmas that resulted in a $650,000 fine.

Senior vice president, communications and media with Brookfield Asset Management, Andrew Willis said that within the Las Vegas community, the Hard Rock Hotel and Casino has vital brand acknowledgment and a valuable position and they are convinced that they will be able to productively streamline this business and return it to profitability, together with Warner Gaming. Willis added that the Hard Rock is now owned by Brookfield Real Estate Finance Fund II, to operate the casino, Warner Gaming LLC of Las Vegas has been hired.

In various properties including Royalton, Delano, Clift and Sanderson, Morgans owns, runs, or has ownership interest. In afternoon trading, its stock dropped to 60 cents, or 6.7 percent, to $8.35. Over the past year, the shares have traded in a range of $4.31 to $11.46.

Winner for Station Casinos – Gun Lake Casino

The Gun Lake Casino was opened to overflow crowds recently. It is managed by Station Casinos Inc. of Las Vegas, located between Grand Rapids and Kalamazoo, Mich. The Gun Lake Tribe of Pottawatomi Indians owns the 76,000-square-foot casino.

In exchange for a fee equal to 30 percent of the casino’s net income, MPM Enterprises LLC, of which Station Casinos is a 50 percent partner, will manage the property for seven years.

Throughout the first three days of operation, officials of the gaming house south of Wayland say that crowds flocked to their building in Bradley, although no figures were announced. For several hours, authorities had to close off the exits for 129th Avenue because of capacity attendance inside of the structure and the filling of 25 hundred parking spaces outside. From backing up on 131, the exits were closed to prevent traffic. The casino is 20 miles south of Grand Rapids. With more than 2,500 spaces, the parking lot was full.

To tribal gaming authority CEO John Shagonaby, the response to this first casino in Michigan’s “Bible Belt” was not surprising. He admits that the economic benefits trump moral questions on gambling. Since the opening of the gaming house, there has been an increase in the number of bandwagon jumpers, which was quite amusing. Shagonaby added that they have exclusive rights to operating casinos in the region, which includes Grand Rapids and the entire Lakeshore, as part of the Gun Lake Tribe’s gaming pact with the state.

In the Gun Lake Casino, there is so much interest that U.S. 131 exits closest to the gambling was closed Feb. 11, the first full day of operations. Assistant general manager David Frankhouser says that on hourly basis, decisions about whether to allow more people in are being made.

Casino: Closure Orders for Two Off Shore Casinos in Goa

For failing to get mandatory license from the Directorate General of Shipping (DGS), Goa government today ordered closure of two offshore casinos anchored in Mandovi river. In its order, the state Home Ministry asked two offshore casino vessels M V Casino Royale and M V Arabian Sea King to shut their operations.

MV Arabian Sea King belongs to M/s Victor Hotels and Motels, while Casino Royale is owned by M/s Highstreet Cruises and Entertainment. In India, Goa is the only state to have offshore casinos. The government order, signed by under secretary (Home) VP Dangi said that it is mandatory for the off shore casinos to have license from the DGS and both the casinos have violated Goa Anti-Gambling Act. Following the order, officials said that as the operation of slot machines and gaming tables have been asked to be stopped, any gambling activity on the vessel becomes unauthorized.

To state police, excise department and department of commercial taxes for action from their side, the order has also been referred. On December 12, 2010, both the casino managements were issued show cause notices and they were given seven days time to respond on the issue of DG shipping license. To furnish the licenses, both the managements had sought additional time, which was not granted by the Home department. Department of Ports sources said that only four off shore casinos i.e. Casino Royale, Casino Caravelha, Casino Pride and Casino Carnival, out of the seven casinos are operational before the fresh announcement of closure.

To enforce the order issued by the home ministry at the earliest, the official further said that the district magistrate and the local police had been instructed. Of the six offshore casinos operating in Mandovi river, for violating the laws, one was closed earlier by the state Home Ministry. Just three floating casinos are left in the river, which flows along Panaji, with the closure of two more casinos. From civil activists too, offshore casinos in Goa have been facing opposition. For projecting Goa as a gambling destination, they are seeking a ban on them.

Casino Owner’s Wife Seeks Legal Separation

Casino owner and Detroit businessman Don Barden’s wife Bella Marshall has received a temporary restraining order protecting the couple’s assets. She seeks to have him declared incompetent in the management of their finances. She also is seeking a legal separation.

Marshall said her husband is not himself and he is ill. This was the reason why she asked for a guardian. His current address is shown as a hotel in downtown Detroit, in the probate court filing.

Darci McConnell, spokeswoman for Barden said that Mr. Barden is both capable both physically and mentally of managing his affairs and continues to do the same. She refused to comment further as she thought this involves a potential legal and a personal matter.

In 1979, Barden became the first African-American cable franchise owner and he was the first African American to own a Las Vegas casino in 2001. He has been named as a top national business leader by Ebony magazine, the TBS cable network, Black Entertainment Television and Black Enterprise magazine. The Michigan Chronicle newspaper most recently awarded a lifetime achievement award.

More than a year ago, Barden’s Majestic Star casino company declared bankruptcy. Barden could lose most or all of his ownership in the casinos, under reorganization plans yet to be approved. The company owns the Fitzgerald’s casinos in Blackhawk, Colo., and Tunica, Miss and two casino boats in Gary, the Majestic Star and Majestic Star II. While the company reorganizes, the casinos continue to operate.

Last week, Majestic Star filed suit against Barden and Barden Development for more than $2 million. After Barden allegedly changed the firm’s tax status last year, the company said it was forced to pay the State of Indiana and the Internal Revenue Service.

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