Macau’s Gaming Revenue May Begin to Surge

The casino industry around the world has been struggling for the past few months. In Macau, where some of the biggest casino-resorts are located, the casinos have been earning almost no money. Fortunately, Macau’s gaming revenue may soon begin to increase rapidly.Casinos In Macau

China is lifting travel restrictions into Macau. Many analysts predict a huge surge of tourists flocking to this gambling destination. Today, we’re going to look at how this might affect US casino companies.

Let’s get into it!

China is Lifting Travel Restrictions to Macau

China was one of the first countries affected by the new coronavirus spreading around the world. Officials took intense measures to prevent major spreads and now, much of everyday life is beginning to return to normal here. Now, the Chinese government is beginning to allow its citizens to travel to Macau.

This is an exciting move for many people in the country. Macau is one of the most popular vacation destinations for many Chinese nationals. In fact, the vast majority of Macau’s gaming revenue is earned from Chinese players.

Over the next few weeks, China will begin allowing more of its citizens to visit Macau. The casino-resorts here have been open for many weeks. Due to the travel ban, however, this city is earning very little revenue.

Like many other cities, Macau is ordering all of its casinos to adhere to strict social distancing measures. Total occupancy in these gambling venues is being reduced. Some measures, such as installing plexiglass barriers at table games, are also mandatory.

It remains to be seen how many tourists will begin flocking to Macau. Many expect travel deals to begin appearing here. Several of the biggest US casino companies are now looking at this city as one of their primary revenue sources.

Macau’s Gaming Revenue is Expected to Increase Quickly

Much like Las Vegas, Macau is a city that relies heavily on its gambling industry. As we already mentioned, many of the biggest and best casino-resorts on the planet are based here. City officials have been working hard to start getting revenue back to normal.

Of course, things were bad in this city even before the global pandemic hit. The US-China trade war significantly hurt the Chinese economy. As a result, less people from this country have been visiting and gambling in Macau.

Things may finally be starting to improve. China’s economy has been slowly getting back on track. The government has now given the green light for many of its citizens to start making the trip back to this city.

Officials within Wynn Resorts are clearly happy to see this happen. The company released a statement to the media about this situation.

“It has been announced that Guangdong Province, a People’s Republic of China province adjacent to Macau, has eased quarantine requirements for those traveling between Guangdong Province and Macau,” the statement said. “Certain groups of people, including students, teachers and certain non-resident workers who are PRC citizens can travel between Macau and Zhuhai, a PRC city adjacent to Macau, subject to certain health declaration and testing requirements.”

Macau’s gaming revenue will be extremely important for many US casino companies. Many of these companies have lost an incredible amount of money due to the country’s regulations. The ones with casinos in Macau may finally see their earnings come back.

Las Vegas is Getting Back to Normal

The past few months have been incredibly difficult for casinos around the world. From an economic standpoint, Las Vegas was one of the worst-affected cities in the country. Fortunately, things are slowly getting back to normal here.

On June 4th, several of the biggest casino-resorts in this city finally reopened to the public. Most tourists here claimed things were just as fun as they were before. That’s a little surprising, especially considering there are now intense social distancing measures set in place here.

Over the next few weeks, many more of the casino-resorts here are scheduled to open back up. That includes the Aria, the Linq, and Mandalay Bay. Tourism is increasing here every single month.

It may be a long time before things get back to how they were back in January. Some health experts also warn that a second wave of cases could end up shutting down the casinos in Las Vegas once again. It’s a complicated situation that’s constantly evolving.

Hopefully, Macau’s gaming revenue starts to increase this summer. It will be hugely beneficial for many US casino companies.

Stay tuned for more US casino news over the next few months!

Now Might be the Perfect Time to Invest in Casino Companies

After months of being shut down, the US casino industry is slowly coming back to life. Several of the biggest casino-resorts in the country are scheduled to reopen this week. Some now feel that this is the perfect time to invest in casino companies.

Paper On Stocks And Shares

Stock prices have been fluctuating greatly over the past couple of months. There now seems to be a real investment opportunity in the gambling industry. Today, we’re going to look at what analysts predict to happen over the next few weeks.

Las Vegas Casino Industry is About to Reopen

The US has the biggest and most successful casino industry in the world. Many states around the country allow casino gambling. Some have legalized commercial casino gambling while others only permit Native American-run gaming venues to operate.

In March, however, this industry completely shut down. Every state ordered their casinos to close to the public. Health experts warned that these casinos were easy places for the new coronavirus to quickly spread.

These regulations hurt some parts of the country more than others. Perhaps no city took quite as big of an economic hit as Las Vegas. Closing the casinos here resulted in hundreds of thousands of job losses and an unprecedented amount of lost revenue.

Some of the biggest casino companies in the world are based in Las Vegas. All of them have seen their share prices plummet over the past three months. Fortunately, many of the casinos in this city are being allowed to reopen to the public on June 4th.

As a result, some of these company’s stocks are beginning to surge. Some analysts believe Las Vegas will see a massive influx in gamblers looking for an escape from the restrictions in their own states. Some now believe this is the perfect time to invest in casino companies here.

Here’s Why Some Analysts Are Recommending You Invest in Casino Companies

It might seem crazy to think about investing in the land-based gaming industry right now. Even in states that have reopened casinos, the revenue being earned is a fraction of what was coming in a few months ago. There’s no denying the fact that casino stock prices are surging right now, though.

Caesars Entertainment, MGM Resorts International, and Wynn Resorts have seen their share prices surge by more than 140% since March 18th. Penn National Gaming has risen by an astounding 780% from its lowest point in March. Ari Wald, the head of technical analysis at Oppenheimer, spoke with CNBC about the future of these stocks earlier this week.

“Typically at market turning points you’re going to see investors embrace the most beaten-up laggards. For the S&P casinos industry, we are seeing that stability over the last eight weeks. I think you test the underside of that 200-day,” he said. “It’s really just a beta trade. Yes, they overshot to the downside, getting some relief to the upside, but there’s some longer-term concerns. We think instead the premium is going to be on high-growth companies in this low-yielding recovery.”

Many feel that Macau will help to significantly raise these company’s stock prices. China has been quick to recover economically when compared to other countries. Chinese nationals are likely to begin gambling in Macau, where a number of major US-owned casino-resorts are located.

The opening of Las Vegas casinos will help things, as well. The real question is now about how many tourists will begin flocking to this city. We’ll get a much better idea over the next seven days when the casinos here open back up.

Sports Betting Continues to Grow More Popular

Since May of 2018, every state in the country has been given permission to set their own laws on sports gambling. As of today, more than 20 states have now legalized this form of gambling. It’s proven to be incredibly popular.

Prior to the global pandemic, sports betting was growing every single month. The shutdown of major sports leagues brought a stop to this. As more leagues begin to resume their operations, much of this revenue has begun to flow back in.

Interestingly, more states are becoming interested in legalizing sports betting. That includes California, which feels legalizing this industry will help the state recover economically. Lawmakers are now discussing the matter with Native American tribes in the state that want to ensure they receive revenue from the legal sports betting options in the state.

Sports betting has never been more popular than it is right now. This is another reason why so many are advising to invest in casino companies right now. Expect more of these casino companies to focus on their sports gambling options.

This is a pivotal time for the US gambling industry. We may be in for some major changes over the next few weeks.

Stay tuned for more casino news!

Stanley Ho Has Passed Away at Age 98

Macau is considered one of the world’s premier gambling destinations. Stanley Ho is widely considered to be one of the most instrumental person in making that happen. Unfortunately, news has surfaced that Ho has passed away at age 98.Stanley Ho

It comes at an unusual time for Macau. Casino revenue here is now lower than it has ever been. Today, we’re going to discuss what this territory is doing to recover from the current economic situation it finds itself in.

Let’s get into it!

Macau’s Casino Revenue Continues to Plummet

Macau is home to many of the biggest and most expensive casino-resorts on the planet. Over the past few decades, it’s grown to become one of the world’s top gambling destinations. Unfortunately, revenue here has been dropping steadily for more than a year.

China’s economy has slowed considerably due to the US trade war it’s currently engaged in. As a result, fewer Chinese nationals are visiting Macau. As many are well-aware of, Macau relies heavily on Chinese gamblers for revenue.

This situation was tough on casino companies here. It was, however, manageable and many felt that as the Chinese economy improved, things in Macau would get better, as well. Unfortunately, the global pandemic has taken things from bad to horrible.

For a time, all of the casinos in Macau were closed down. They eventually opened back up, yet tourism here is almost non-existent. As a result, many of the casino companies in Macau are losing millions of dollars every day. It’s still unclear when revenue figures will begin to improve.

It’s a very difficult situation. Many of the city leaders here are now working to come up with ways to boost tourism. Unfortunately, one of the men responsible for making Macau what it is today has just passed away.

Stanley Ho Passed Away This Week

Those in the casino industry are well-aware of Stanley Ho. The former smuggler grew to become one of the most powerful men in Macau. He wasn’t without controversy, though, and many have criticized the casino mogul for his connections to several powerful crime groups.

Ho fled to Macau during World War Two. He was broke at the time, and ended up smuggling goods into China from Japan. As the war came to an end, Stanley Ho began to lead the reconstruction of Hong Kong.

In the 1960s, Ho secured a monopoly to control Macau’s emerging casino industry. It proved extremely profitable and he quickly became one of the richest men in China. As his age increased, Ho’s daughter began to take over much of his responsibilities.

New reports confirm that Stanley Ho has passed away at the age of 98. Many in the casino industry are paying their respects to one of the most important casino owners in Asia. Pansy Ho has already released a statement, claiming she knew it was coming, yet she’s still incredibly sad.

“The family of Stanley Ho today, with a very heavy heart, announced that [Ho] passed away peacefully at the age of 98 at around 1:00 pm today at HKSA,” Pansy said in an official press conference. “Even though we knew that this day would come, it doesn’t lessen our unspeakable sadness.”

This isn’t likely to have any major effect on Macau. As we mentioned earlier, Stanley’s role in the industry was passed on years ago. Casino owners are now looking at other leaders in Macau for news on how the city will improve.

US Land-Based Casino Industry Begins to Reopen

Macau isn’t the only area where casinos are struggling. All over the world, gambling venues are seeing their revenue earnings drop. That includes all of the casinos in the United States. Fortunately, things are beginning to improve here.

Some states have allowed their casinos to open back up. In Mississippi, for example, most of the coastal casinos are now accepting guests at limited capacity. The same is happening in Oklahoma.

Even some of the casinos in California have begun operating again. It’s surprising, considering this state has been one of the slowest to reopen. All of the casinos here are run by Native American tribes and sit on sovereign land.

Interestingly, casinos are still not open in Las Vegas. It’s been incredibly difficult for this city, which continues to lose millions of dollars every single day due to these regulations. Based on what city officials are saying, casinos will open back up here next month.

When Las Vegas casinos reopen, they won’t look the same way they did in the past. Major social distancing measures will be set in place to protect guests and staff. It’s unclear how much revenue these casinos will be able to generate.

Are you sad to hear about the passing of Stanley Ho? When do you expect Macau to recover from this current situation? Let us know in the comments section below!

Here’s an Update on Washington’s Casino Plans

As the days progress, more states are beginning to slowly open back up. Unfortunately, the US land-based casino industry remains completely shut down. This week, officials offered an update on Washington’s casino plans and discussed when these gambling venues may open to the public.Washington State Flag

It’s an extremely complicated situation. Casinos are ideal places for a virus to spread. Now is the perfect time to discuss what measures casino companies in Washington plan on taking to get things back to normal.

Let’s get into it!

The US Casino Industry Remains Shut Down

The past few months have been some of the toughest that US casino companies have ever endured. All casinos in the country have been shut down for weeks. Revenue has stopped flowing in and a huge number of casino employees have lost their jobs.

This has become a more serious issue in some parts of the country. Places like Las Vegas and Atlantic City, for example, are known to rely heavily on their casinos. The regulations set in place are already taking a massive toll on these cities.

Some states are slowly beginning to lift their restrictions. In some ways, this approach is an experiment for the rest of the country. Several top health experts are expressing fear that reopening the economy in these states will result in a spike of new Covid-19 cases.

Unfortunately, even the states with the most relaxed approach towards this virus are unsure about how to reopen casinos. Not long ago, Nevada’s Gaming Control Board released a set of guidelines that casinos can take to open again. Most feel it will be at least a month before the casinos in Las Vegas allows guests in.

Washington is known for having a successful casino industry. Tribal leaders in the state have been looking at ways to reopen casinos for weeks. Here’s what’s being discussed right now.

Tribal Governments Offer an Update on Washington’s Casino Plans

When most people think of the US casino industry, states like Washington don’t come to mind. That’s not entirely surprising. In reality, though, the state’s casinos generate more than $2 billion in revenue every year.

Closing down casinos here has been devastating for many local economies. Tens of thousands of Washington residents work inside casinos. According to a report by the Washington Indian Gaming Association, Tribal governments here are the 8th largest employer in the entire state.

Tribal leaders are now giving an update on Washington’s casino plans. Ron Allen, chairman of the Jamestown S’Klallam Tribe and a member of the Washington Indian Gaming Association, spoke about the impact that closing down casinos is having.

“We are definitely in survival mode,” he said. “Some tribes would like to open up now, but we don’t want to be the source that causes anyone to get sick from the virus. It is a calculated risk, when to open up, but we can’t wait for zero, there won’t be any economy left.”

Many tribes have been forced to lay off thousands of workers. None have set official dates to reopen yet. Most agree that it’s impossible to do so until the virus spread is under control. Even then, these casinos are going to look different than they used to for some time.

Fortunately, infection rates have been relatively low in Washington in recent weeks. With more widespread testing, things may begin to improve here quicker than some analysts predict.

Las Vegas Casinos Continue Looking at Ways to Reopen

Washington is clearly taking a hit due to the shutdown of the state’s gambling industry. The economic losses here pale in comparison to what’s happening over in Nevada, though. Las Vegas casinos are completely shut down and revenue here is now at a record low.

The gambling and entertainment industry here employs hundreds of thousands of people. As time goes on, the impact of the casino shutdown gets more severe. Several major casino companies here are losing millions of dollars every single day.

Some hoped that things would begin to reopen by May. That includes Las Vegas Mayor Carolyn Goodman, who continues to call for the city to reopen. Casino companies are now focused on finding ways to safely allow guests back in.

A few of the major casino-resorts on the Las Vegas Strip are accepting reservations as early as June. It seems these companies feel they’ll find safe reopening solutions by then. A recent report stated that the MGM’s New York New York and Bellagio venues may be the first to open their doors.

The update on Washington’s casino plans is similar to what many state leaders are saying. Unless everyone knows things will be completely safe, these casinos will remain closed.

When do you expect the US casino industry to get back on track? What do you think casinos will look like once they reopen? Let us know in the comments section below.

US Casino Revenue Continues to Plummet

Prior to March of this year, the casino industry in the United States was surging. Most states were earning a huge amount of revenue from their gambling venues. That is no longer the case. According to new reports, US casino revenue continues to plummet.Revenue Drop Picture

Some states are being impacted more than others. New reports indicate casinos in Pennsylvania, New Jersey, and Delaware are all losing an incredible amount of money right now. Today, we’re going to look at exactly how much revenue has fallen in these states.

Let’s get into it!

Certain States Are Now Beginning to Open Up

Since March, states around the country began going into lockdown. Infection rates of the new coronavirus have risen in some areas and started to fall in others. Certain parts of the US are now experiencing relatively low rates of infection and are preparing to open back up.

This includes Georgia, which has already lifted most social distancing measures. Governor Brian Kemp has allowed businesses like restaurants to open, yet things are far from normal. Some health experts believe that opening back up to early will result in a major increase in cases in some states.

It’s a very difficult situation. State leaders are trying to weigh the pros and cons of allowing businesses to start operating again. One state that’s being hit particularly hard due to these new regulations in Nevada.

Cities like Las Vegas are nearly shut down right now. Tourism and gambling account for a huge percentage of the city’s revenue. No visitors are coming to Las Vegas right now and this revenue is simply not flowing in. Casino officials have now begun discussing plans to get things back to normal.

Las Vegas Mayor Carolyn Goodman is now calling for the city to open back up. Interestingly, several casinos here are preparing to open their doors in late May. We’ll need to wait and see how long it takes for revenue to start increasing here again.

New reports are revealing how the gambling industries in other states are doing right now.

US Casino Revenue is Dropping Quickly

We’ve been reporting on how much money certain casino companies are losing for weeks. Several of the top casino companies in the US have stated things need to change. New reports are now beginning to surface that show how much money has been lost in Pennsylvania, New Jersey, and Delaware.

These three states all have something in common. Online casino gambling has become legal and regulated here. Unfortunately, it does not appear these internet casinos are able to make up for the revenue being lost by the land-based casino shutdown.

Pennsylvania’s gambling revenue dropped from $304 million in February to just $154 million in March. New Jersey saw a decrease of $124 million last month. That’s an incredible $274 million lost between these two states in just one month.

It’s clear that online gambling is surging in these states. In fact, revenue from Pennsylvania’s online gambling platforms increased by 24%. Doug Harbach, a spokesman for the Pennsylvania Gaming Control Board, spoke about this situation to the media this week.

“We certainly have seen an uptick in online play, in particular table games, the biggest being poker,” he said. “It does not make up for the casino losses. It will not come close to satisfying the tax revenue we’ve been used to.”

What’s Happening in Atlantic City Right Now?

There’s been a lot of discussion about Las Vegas over the past few weeks. Many have talked about how this city will approach the new regulations around the country. Interestingly, Atlantic City hasn’t been a major talking point.

Based on the new US casino revenue reports, it’s clear that this city is hurting. All of the casinos are shut down here and it may be months before they’re allowed to open. Some have expressed fear that some of the gambling venues here will be forced to shut down permanently.

Gambling revenue dropped by 44% last month compared to the same month in 2018. Online gambling revenue increased by nearly ⅔ last month, though. Many casino companies here are likely to start investing more into their internet gambling marketing efforts.

Things are already beginning to change in Atlantic City. Last week, Caesars Entertainment announced it was selling Bally’s for $25 million. More property sales may start taking place here over the next few months.

US casino revenue is falling fast. Some states are now choosing to open up different businesses. Unfortunately, it may be a long time before any land-based casinos are able to open to the public again.

Stay tuned for more US casino news over the next few weeks!

Should a Fan-less NBA Season Resume, Las Vegas Event Could Serve as the Example

Basketball Player Shooting a Basket in GymWhile the NBA season is currently suspended due to the coronavirus pandemic, the league has been in talks of possibly resuming the season in Las Vegas, minus the packed arenas.

Should the NBA find the way to go through with it, an annually held Las Vegas fan-less event could serve as the blueprint.

The event? The NBA’s annual G League Winter Showcase held December 2018 and December 2019 at the Mandalay Bay Convention Center. The event, which serves as a scouting showcase for league executives, holds various games daily over a four-day period without fans present.

The G League Winter Showcase, which displays the talents of dozens of hopeful players, is held a month prior to January’s 10-day signing period.

These games were closed off to the public and only kept open for team and league staff members, agents, media personnel, and close family and friends of the players.

A Seemingly ‘Seamless’ System

While players typically get revved up from the energy of live crowds, players at the G League Winter Showcase had to look inward to pep up their own performance.

But while it was a challenge at first, players said that after the first couple of possessions, the games started to feel like normal games.

Aaron Magner, who works with Eventuris, a company that provides staffing for the G League Showcase, the games, although different, didn’t feel awkward. Magner said that’s because the games were produced so well, especially for it being such a unique playing experience.

The setup went like this: Four courts were built inside of Mandalay Bay’s Convention Center divided by a partition to allow play on either side to allow games to go on simultaneously.

League members, media staff, and close friends and family were even given assigned seating along the sideline, or on the risers along the baseline, both seating arrangements on the opposite side of players’ benches.

Music was played during timeouts or long stoppages during play, but outside of that, the only noises throughout the games were organic basketball sounds, like dribbling, players communicating to one another during the game, or shoes squeaking on the court.

NBA Season Suspended in March

When Utah Jazz center Rudy Gobert tested positive for COVID-19, it caused the NBA season to come to a screeching halt on March 11.

Initially, NBA commissioner Adam Silver said the league would be on a 30-day hiatus at the time he announced the shutdown, but it’s gone on longer than that and it’s still uncertain if it will be able to return in 2020.

The NBA was the first major professional sports’ league that suspended its season and ushered in the remaining leagues to suspend their seasons too, including NHL and MLB.

Sports’ suspensions came at an interesting time outside of the coronavirus outbreak, as many more states were just expanding their legalized options for sports betting.

League ‘Not in a Position to Make Any Decisions’

According to a comment Silver made during the NBA Board of Governors meeting held April 17, the league isn’t in any position to make any decisions at the present time, and there’s no telling when they will be.

When it comes to “bubble-like concepts,” like holding NBA games without fans present, Silver says the league isn’t seriously engaged to that particular kind of environment, given the fluidity and uncertainty of the outbreak’s nature.

The league is prioritizing human life over anything else, and that’s where the conversation began and ended during the board meeting.

Fanless Sports; Viable Solution in Bringing Resuming Sports

According to the testimony of some players at the G League Winter Showcase, a fan-less event setup would be a good solution in slowly reintroducing sports amid this pandemic. No fans? No issue.

The transition would be a seamless one because the schedule could work efficiently.

The games would start as scheduled, and players would leave the facility promptly once their games finish up. The absence of fans means the avoidance of unnecessary contact with more people than what’s required to get these games played and filmed.

Important April NBA Updates

April 17: According to sources close to ESPN’s Adrian Wojnarowski, the NBA and NBPA are working on closing a plan that will withhold 25 percent of every player’s paycheck in the league, starting May 15.

April 14: The Chinese Basketball Association is reportedly looking to postpone their calendar again until July. The association has been on hold since January 24.

April 13: Potential protocols that would get players ready for games are being discussed by league executive and team medical staff. A proposed plan under the new protocols would possibly include a 25-day program that players would undergo before they’re allowed game-play.

April 10: NBA teams come together in a play to encourage the league’s office to push the NBA draft date back from June 25 to no sooner than Aug. 1.

April 9: While no games have been played for a month at this point, NBA players receive their full check. For most players, that pay date was April 15.

April 6: For weeks, NBA and NBPA officials have been collaborating in checking the accuracy of multiple blood-testing devices for COVID-19 that would allow the league to track the virus in players. This is being considered the first step is allowing play to resume.

April 6: NBA lets teams know that organizations will not be allowed to conduct in-person workouts or interviews with draft-eligible players until further notice. Teams are, however, allowed to hold virtual interviews with draft prospects, but lasting no longer than four hours for any single player.

April 1: 15 days after Brooklyn Nets announced that four of their players had tested positive for coronavirus, the team’s general manager, Sean Marks, announced that the team’s roster is now completely free from COVID-19-related symptoms.

Stay Tuned

We’re sure most of the world is missing professional basketball during this time of quarantine, but we’re not sure what the league will do next when it comes to coming up with a possible solution to resume play.

Whether that be holding games in a fan-less facility and location like Las Vegas, or waiting until the storm of the outbreak completely blows over, we will just have to wait on the official word from the league.

Weigh-in: Do you think fan-less sports be the best solution for bringing back sports, slowly but surely? Let us know what you think about the idea in the comments below!

MGM Resorts Delays Move into Japan Due to Coronavirus

In 2018, lawmakers in Japan officially approved a bill to allow three casino-resorts to open in the country. As a result, almost all major casino companies in the United States are trying to break into the Japanese casino industry. According to new reports, MGM Resorts is now delaying its move into the city of Osaka.MGM Resorts Logo

It’s been a long road to start building casinos in this country. With the spread of Covid-19, things have gotten even worse. Today, we’re going to look at why exactly MGM is choosing to stay out of Japan right now.

Let’s get into it!

Japan Continues to Work On Casino Regulations

For many years, Japan had very strict gambling laws set in place that prohibited all casinos. In fact, the laws here banned almost all traditional forms of gambling. In mid-2018, things took a major turn in this country.

That year, lawmakers in Japan decided to legalize casino-resorts. The government announced it would allow three gambling venues to start operating in three different cities. As of now, it looks like Tokyo, Osaka, and Yokohama are the most-likely cities to open casinos.

It was unclear when the first gambling venue would open in Japan. Lawmakers in the country wanted to ensure that issues like gambling addiction and crime were avoided. Since passing the bill, government officials have been working to come up with specific regulations for the country’s casino industry.

Back in December, news broke that Japan was studying the Las Vegas casino model for guidance. It makes sense, as Las Vegas is home to many of the biggest and most successful casinos in the world. This process is still taking place.

Most analysts predict that it will be years before the first casino-resort in the city opens up. Due to the spread of Covid-19, things may be pushed back even further. It now appears that one of the biggest casino companies in the US is postponing its move into the country.

MGM Resorts Offers New Timetable for Osaka Casino

MGM Resorts International is one of the largest casino companies in the world. It operates several major casino-resorts in Las Vegas and has been pushing hard to gain a casino license in Japan. This company has not been granted an official license to run a casino-resort in Osaka yet almost all experts agree that it will eventually be granted the license.

Unfortunately, it may take longer to open a gambling venue in this city than initially expected. City officials have scrapped plans to open the casino-resort by 2025. Now, it appears that MGM plans to build a casino here in 2026.

Ed Bowers, CEO of MGM Resorts Japan LLC, claims that the spread of Covid-19 is not affecting plans to open a casino in Osaka.

“MGM will continue to proceed with our efforts to create a proposal that will be appreciated by the entire Osaka community, taking into account the schedule announced by the government,” he said.

The new coronavirus is already taking a massive toll on the land-based casino industry around the world. In the US, all casinos are now shut down. This is costing many US casino companies millions of dollars every single day.

Other countries in Asia are just beginning to open their casino industries, yet it does not appear they’re bringing in much revenue.

Macau Casinos Struggle to Bring in Players

China was the first country hit by the novel coronavirus now spreading around the world. Within weeks, officials decided to close down all of the casinos in Macau. This was devastating to the local economy, which relies almost entirely on tourism and gambling revenue.

The closure of these Macau casinos also impacted many US casino operators. This includes the aforementioned MGM Resorts International. Just recently, officials in Macau decided to reopen all of the casino-resorts in the city.

Unfortunately, these casinos are having an extremely difficult time generating revenue. There are still heavy restrictions set in place in Macau. Very few gamblers are now flocking to this city and some casinos are in danger of failing.

In time, however, Macau may prove to be the saving grace for some US casino companies. As we’ve already mentioned, all land-based casinos in the United States are now shut down. Many with property in Macau are now relying on the city to help make up for the revenue they are losing in America.

MGM Resorts doesn’t expect to open its Osaka casino anytime soon. At the moment, this company is likely focused on surviving while its US properties are shut down.

Stay tuned for more casino news over the next few months!

Casinos in Asia Are Still Suffering Due to Covid-19

The coronavirus has taken an incredible toll on the land-based casino industry around the world. A huge number of casinos in Asia have seen their revenue completely stop coming in. New reports are coming out that claim these gambling venues will continue to experience low revenue figures for the next few months.Casinos In Macau

It’s a very unusual time. We’re seeing Covid-19 spread to thousands of new individuals every single day. Here’s how the virus continues to impact Asian casinos.

Macau Casinos Are Open to the Public Once Again

Macau is one of the biggest and most lucrative gambling hubs in the world. It’s a Chinese territory, yet officials have some authority to set their own regulations here. Prior to the spread of the new coronavirus, Macau had a hugely successful casino industry.

As the virus moved throughout China, it became clear that Macau would take a hit. Eventually, a casino worker in the city tested positive for Covid-19. That prompted lawmakers here to officially close down all of the casinos to the public.

This was devastating for the local economy. It also impacted many major casino companies in Las Vegas that own casinos in Macau. According to many reports, the shutdown of all Macau casinos cost these companies millions of dollars every single day.

Not long ago, these casinos opened to the public once again. Unfortunately, their revenue hasn’t jumped quite as much as many hoped. There are still heavy travel restrictions in Macau and visitation to the casinos here remains very low.

Some felt this would only last a few weeks. As time went on, it seemed possible that Macau would become what it once was. That does not appear to be the case.

Casinos in Asia May See Low Revenue Earnings For Months

The whole world is in an unprecedented situation right now. Not even the best health experts can predict how long this pandemic will continue for. As of now, it seems things will continue to play out until a vaccine is developed.

That’s bad news for casino companies. The land-based gambling industry is taking a serious hit due to the new coronavirus. According to new reports, casinos in Asia will continue to suffer due to Covid-19.

S&P Global Ratings released a report today that details what may take place this year. The company claims that many Asia-Pacific casinos will experience a drop in visitation between 60% to 80% over the next few months. This is due to ongoing travel restrictions, and casino closures.

“This is exacerbating weak consumer sentiment and leading to negative cash flows. Gaming equipment makers and lottery/betting operators are experiencing similar pain from the temporary closure of venues,” the report said. 

This report did not state exactly which companies will see their revenue drop. It seems likely that all gambling venues in Macau and the Philippines will suffer.

It’s a very tough time for many industries. The land-based casino industry, in particular, is taking a major hit. This includes ones in the United States, as well.

Las Vegas Casinos Remain Shut Down

There’s no doubt that Macau is the biggest gambling destination in Asia. In North America, however, that title belongs to Las Vegas. Here, a huge number of fantastic gambling establishments are operating.

Many of the world’s biggest casino companies are based here including MGM Resorts International, Wynn Resorts, and Las Vegas Sands. Unfortunately, all of the casinos in Las Vegas have been forced to shut down. It’s unclear when Governor Sisolak will remove these regulations.

This is devastating for many of the companies here, including non-gaming ones. Tourism in the city is at an all-time low. Fortunately, the federal government passed a new stimulus package that should offer some support for these companies.

Since the land-based gaming venues have shut down, online casinos in Nevada have grown hugely popular. Most individuals here are recognizing how fun and easy this industry really is.

Casinos in Asia and the US are facing a tough few months. Online casinos are seeing their membership rates increase.

Stay tuned for more casino news over the next few months!

LVPD Crackdown on Open Businesses Amid Shutdown, 7 Licenses Suspended

Gold & Silver Pawn Shop SignLas Vegas police are staying busy during the Clark County coronavirus shutdown. The shutdown, which called for the closure of all nonessential businesses last Wednesday, was announced by Gov. Sisolak in an effort to stop the spread of COVID-19.

Authorities, along with their compliance team, visited at least 113 businesses across the valley over the weekend.

For the non-essential businesses, which include (but are not limited to) entertainment and hospitality, recreation and health facilities, beauty and personal care facilities, retail facilities and shopping malls, that didn’t voluntarily choose to close their doors, they’ve been met with legal enforcement.

A statement from the Las Vegas Metro Police reads:

The Las Vegas Metropolitan Police Department’s Special Investigation Section teamed up with Clark County Business License agents this weekend and served 36 warning letters, 7 suspensions and 4 citations to non-essential area businesses that were not complying with state orders to shut down.

Nevada Coin Mart Forced to Close Down

Of the open businesses that were met with legal enforcement during the crackdown is Nevada Coin Mart, which is located on Jones and Flamingo.

Nevada Coin Mart buys silver and gold jewelry from the public, which has been a valuable resource for those looking to secure extra cash during this period of financial insecurity and economic downturn.

“They suspended my business license until April 16 as well as they told me I needed to close the doors immediately to the general public,” said Neil Sackmary, Coin Mart’s owner.

“Most people don’t know the difference between a pawn shop and a “secondhand dealer” so they naturally assume that a pawnshop is what we have,” Sackmary added.

“So there is a pawn license and there is a secondhand license and so all that needs to be done and we’re not gonna open until that point, the governor would just say pawn shops and secondhand dealers,” Sackmary further explained.

According to Gov. Sisolak’s order, Pawnshops are explicitly exempt. While pawnbrokers are exempt, Sackmary holds a secondhand dealer license, which isn’t exempt per the order.

Financial Institution by US Federal Regulation Definition

Sackmary’s attorney explained that his business is a financial institution by US Federal regulation definition. Under the governor’s closure order, financial institutions are also exempt.

“The United States Patriot Act, section 312, the Federal Government recognizes my business as a financial institution. The legislation applies to financial institutions defined more broadly and to include businesses that are dealers in precious metals and gems,” Sackmary explained.

Pawn Shops Remain Open

Max Pawn, which is operated by Michael Mack, a longtime friend of Sackmary, is allowed to stay open.

Mack was “shocked” that his pawn business was unaffected and forced to close, while Sackmary’s business license was suspended.

When Sackmary asked for Mack’s opinion on the legal enforcement and the nature of his business, Mack had this to say:

“You are an essential business people come to you every day they need cash.”

According to Sackmary, Nevada Coin Mart is “the best in Las Vegas when it comes to the buying. We buy gold, silver, costume jewelry, coins, paper currency, Rolex watches and diamonds.”

“When times get really tough, that’s what a lot of people have because they are digging into everything they have to sell,” Sackmary added.

Authorities advised that since Sackmary only holds a secondhand dealer license and not a banking license out of Clark County, he was forced to close.

Enforced Closures of Nonessential Businesses

According to a statement given by city spokesperson Jace Radke, the Las Vegas Metropolitan Police officers will enforce closures of valley businesses that are classified as “nonessential,” as discussed in an agreement with the Clary County Commission during a meeting last Friday.

Radke said that outside of these enforced legal closures, the city of Las Vegas will be taking these additional steps to help “ease the burdens on businesses that have been forced to close”:

  • A 60-day grace period for business license renewals with due dates of March 1 or April 1
  • Options to close general or privileged licenses and no cost to reinstate them
  • A liquor license option to pay a reduced fee during the temporary closure
  • A gaming license option to pay a reduced fee during the temporary closure
  • An ongoing acceptance of applications during this time

About Nevada Coin Mart

We are proud to be licensed by Clark County to legally buy jewelry from the general public. Since 1971, Nevada Coin Mart – Jones and Flamingo™, we have transitioned into the modern technology age combined with the highest possible cash offerings and the best customer service. 

Nevada Coin Mart offers the highest level of professional, friendly, and courteous service to make each transaction a pleasurable and lucrative experience for our clients.

We are certified by the GIA and carry an A+ rating by the Better Business Bureau.

Taken from Nevada Coin Mart’s official website.

What’s Happening in Vegas? February 23 – 29

All the exciting events taking place in Las Vegas this week:

The last week of February is here and Spring is just around the corner. Many locals will tell you that this is one of the best times to visit Las Vegas. The weather is fantastic and a number of exciting events are happening in Las Vegas over the next few days.

Just about everyone can enjoy something in Sin City this week. There are exciting sporting events, fun concerts, and a day to relax with some world-class beers.

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Here are the five most exciting Las Vegas events this week.

Sunday, February 23rd

Pennzoil 400

On Sunday, Las Vegas plays host to one of the most exciting races in NASCAR. The Pennzoil 400 officially takes place at the Las Vegas Motor Speedway, featuring all of the sport’s top drivers. This an important race to capture series points, meaning every driver will be at the top of their game.

The Las Vegas Speedway is one of the coolest sports venues in the city. Almost every seat offers a fantastic view of the action. Tickets for Sunday’s race are still available, with prices starting at just $49.
Wednesday, February 26th

Christina Aguilera

There’s no better way to get over hump day than watching one of the world’s best singers perform in Las Vegas. This Wednesday, Christina Aguilera begins her new residency at the Planet Hollywood Resort & Casino. The show is scheduled to kick off at 9 pm.

Aguilera has remained a pop icon for more than two decades. At 39 years old, she continues to put out new hits. Music fans in Las Vegas can check out her newest show this week for just $89.

Thursday, February 27th

Golden Knights vs. Oilers

On Thursday, the two best teams in the NHL’s Pacific Division face off. The Las Vegas Golden Knights will look to claim the number-one spot against the Edmonton Oilers. Many analysts predict it’ll be one of the best games of the year.

Anytime the Golden Knights play at home, it’s special. This week’s game is expected to be particularly exciting. Fortunately, tickets are still available with prices starting at $112.

Friday, February 28th

Ray Romano & David Spade

Las Vegas regularly features the country’s top comedians. On Friday, legends Ray Romano and David Spade take the stage inside The Mirage Theater. Romano was recently seen starring in Martin Scorcese’s, “The Irishman.” Spade has recently broken into the talk-show game with his new show, “Lights Out.”

These two men are comics at heart, though. Comedy fans have the chance to see them perform their newest sets inside one of the city’s best theaters. Prices for the show are starting at $80.

Saturday, February 29th

Beer Zombies Craft Beer Festival

There’s always an exciting event happening in Vegas. Sometimes, however, the best thing to do in this city is just relax. On Saturday, visitors and locals can do just that at the Beer Zombies Craft Beer Festival on Dean Martin Drive.

The 3rd annual festival kicks off at 3 pm. Attendees can sample world-class beers, listen to live music, and try out some unique local culinary delights. It can all be enjoyed for just $50.

As you can see, there are some fantastic Las Vegas events this week. Just about everyone has something they can enjoy. If you haven’t booked your room yet, feel free to visit our Las Vegas hotel guide for expert recommendations on the city’s top accommodations.

Enjoy your stay!