04.30.2008 | 11:08 am | News, casinos
Las Vegas Sands, one of the world’s largest casino and hotel operators, has revealed an $11m loss for the first three months of 2008, against a $90m profit for the same period last year. While there are a number of reasons for the fall into the red, the most obvious is the fall in people visiting their casinos as the economic downturn continues to hit home. So what else is happening?
It is very much a triple whammy for the group and actually gives them a chance to throw all of the bad news into the same set of figures. As well as falling numbers they have been hit by higher construction costs with regards to new ventures around the world and competition from the Chinese enclave of Macau. So what does the future hold?
While many in the sector are looking to batten down the hatches for the next 12 months, Las Vegas Sands are very much looking forward to the future with an array of projects ready to roll when the economic environment picks up. The fact that the company is looking to invest between $12 billion and $14 billion into 20,000 additional hotel rooms in Macau between now and 2010, is a definite sign of intent.
The last few months have been very challenging for the industry, as will the next 12 months, but it is forward thinking companies such as Las Vegas Sands who come out of the other end of the economic slowdown strong and fitter than many of their competitors. However, it will be interesting to see who will be prepared to take them on in both Las Vegas and Macau as and when visitor and casino customer numbers start to pick up.
Las Vegas Sands are a major name in the industry and one that will take some moving from the head of their sector!
04.29.2008 | 2:40 am | Poker
Since the launch of the internet we have seen a great many sectors of business and society benefit immensely from an online presence which allows people to access sites 24 hours a day 7 days a week. The poker industry is one which has probably benefitted more than most bringing the sector in from the shadows and into the homes of millions of people around the work, but are people learning the sport quicker than ever, or is there no real short cut to success?
As new online poker sites continue to appear on a daily basis we are also seeing the emergence of a poker tutorial sector which for many people has cut short the traditional learning process. While it still takes time to gain the experience to take on the big players in the industry, the chance to sit at home for hours and hours just studying the hands available, strategy and probability of what might happen next has helped many new players.
The poker tutorial industry has also turned out to be a very interesting way to attract new players keen to learn the game as quickly as possible, and then move onto the tables. “Free Money” games are now emerging as an excellent way to try out your new skills strategies and ideas and while they will never compare with the real game, they are a useful stepping stone.
Like any popular strategy game there are many different views and ideas out there, people play the game differently, but the bottom line is that you need to find a style which suits you, your ideas and your goals. There is no point laying a bluff if you don’t have the bottle to push it all the way because in the end you will be found out, you need to find a style for you, one that you are comfortable with and one which gives you the best chance of winning.
04.28.2008 | 4:27 am | Poker, Poker Stars
Poker TV is becoming fast becoming a growth area of the television market and while viewing numbers are creeping higher and higher, is it actually the same as being there? Can you really get a feel for what is going on and the atmosphere?
While there are very few events which are shown on TV that can beat actually being there, Poker is an interesting area because of the technology to hand and the information which is available in the blink of an eye. The cameras under the table allow viewers to see the cards of each player and the TV format also allows you to see the probability (expressed as a percentage) of each player having a wining hand on the next turn. Even though you may not get the atmosphere and hush of the audience, many fans of Poker believe that there are other benefits to watching it on TV.
Poker TV is set to grow over the coming years as the game becomes more popular throughout the world and sponsors fall over themselves trying to get a slice of the action. While the problems in the US did affect the worldwide take-up of the game for a short period, Europe is now offering a great challenge to the traditional US ports of call. Have the US underestimated the power of the European game?
While Poker is receiving much more coverage throughout the world it is very often the US companies who are putting together these TV packages and TV tournaments. They still have an understanding of the game which seems to far outweigh their European counterparts, and the big sponsorship money still seems to flow from the US.
Poker TV is here to stay and under rule changes in places such as the UK, there is every chance that it could receive a prime time TV slot at some point in the future.
04.25.2008 | 1:53 pm | Poker, Poker Stars, casinos
Next time you play Poker, online or offline, try to count the number of seconds it takes you to play each of your hands. You will probably notice that you play your hands at different speeds depending upon how confident that you are of a win. Test yourself and see – you might be surprised!
Then try and count how long it takes you opponents to play their cards and try to remember if they were good hands, poor hands or indifferent. Again, over time you will notice that your competitors will also play their hands at different speeds – well the amateurs will!
The speed at which you play your hand and the speed at which you throw in your cards at the first sign of trouble says an awful lot about you, but more importantly if your competitors can “read you” they will soon be able to guess what kind of hand you have. If you don’t believe it, try it with your opponents and guess what hands they have when you have checked their times.
The worst thing which you can do in Poker is be predictable, unless you have the nerve to pretend you have a good hand and try to bluff your competitors. The best way to play any hand is by timing yourself in your head and leaving a decent amount of time before you start to even contemplate playing your cards. Keep your opponents guessing and do not let them get into your head!
The clever Poker players are the ones who notice everything and can then use this against their opponents. A simple trick or habit you have, or even the time it takes you to play a hand can give so much away. In Poker the trick is to keep it all to yourself and give as little away to your competitors as possible.
04.24.2008 | 1:28 pm | News, casinos
As if Donald Trump does not have enough on his plate with his various golfing, casino and hotel ventures around the world, it seems that he may be on the verge of suing the Atlantic City authorities with regards to the new smoking laws being introduced to the state. As we have covered on this blog in the past, the Atlantic authorities have come in for much criticism from the likes of Trump – someone who campaigned FOR the smoking ban before it was introduced!
Donald Trump is now fighting back after projections seemed to indicate that the new stricter smoking rules for casinos – where there will be strictly no smoking at the tables or on the casino floor – look set to hit profits. The timing of the new smoking regulations could not have come at a worse time with the worldwide economy under severe pressure. So what will happen?
While normally you would expect some posturing between the two sides and then an amicable agreement, this is America where things are often done very differently. This row has been ongoing for a couple of months now and at this moment in time there seems little hope of an immediate settlement.
Even though the previous smoking laws allowed smoking on only 25% of the casino floor, the impact upon trade was less significant than many had thought, but the new changes which will mean smokers leaving the floor to smoke will have more of an impact. Quite how far Donald Trump will actually take his grievance remains to be seen, but he is certainly out to make trouble for the Atlantic City authorities who are coming under sever pressure.
We will continue to monitor this situation and advise you of the outcome in due course, although with Donald Trump involved it could drag on for some time yet!
04.23.2008 | 2:39 am | Poker, Poker Stars, casinos
There are many different variations of the game, there are millions of people around the world who play on a regular basis, but why is Poker so popular? How does it reach across broad sections of society?
On the surface Poker can look quite a complicated game with a vast number of potential hands to learn, the value of these hands and how to actually play the game with regards to bets, blind hands, etc, but under the surface it is very simple. Do you have more nerve than the players to your left and the players to your right?
At the end of the day Poker is a game in which only the strong of mind will have a long term future and have any potential of winning the big hands. That is not to say that those who gamble and bluff every time will win, it is those who in the words of a famous song “know when to hold’em, know when to fold’em, know when to walk away and know when to run” who will be successful.
There is a time and a place for each and every strategy associated with Poker, for example why try and bluff on the first couple of hands when you do not know the style of your opponents. Why go “all in” at an early stage? The more people in the game the more chance of numerous goods hands around the table, and the more chance of defeat.
To many people Poker is more of an art form than a sport, the trick is when to use different strategies, when to turn up the heat and when to drop out and watch others “burn” each other. What is the point of trying a bluff to knock some players out when you have three or four players wiling to go head to head with only one winner. Sit back, watch them play and then turn the screw on the winner – who will no doubt be a little cocky after a potential big win!
04.22.2008 | 1:25 pm | News, casinos
While the tiny enclave of Macau has not been out of the news for the last few years, it seems that the mass of new casino ventures in the area have now come to a stop. Macau Chief Executive Edmund Ho took the markets by surprise with his announcement that the authorities were calling a halt to the issue of new casino licences for the time being. So what has happened?
The news has prompted a mixed reaction from those in the industry, with those already in position set to see the value of their ventures rise in value, and those yet to gain a licence forced to wait for what could be some time. However, how refreshing is it to see authorities who know when it is time to call a halt to expansion plans rather than push the enclave to the limits and flood the market.
If the rumours are correct it seems as though the Chinese authorities have had a direct hand in the freezing of licences, “advising” the Macau leaders that enough was enough and it was time to take stock. While the enclave has a certain degree of self control there is still a direct link to the main Chinese government which is there to advise and assist when required.
Macau has issued three casino licences and three casino sub-licences in total which allow six companies to run 29 casinos. When you consider that the area has gone from zero to the top casino resort in the world in less than a decade, putting the likes of Las Vegas in the shade, it really is a breath taking story. As we touched on above, it is also refreshing to see authorities who know when they are about to “over crowd the market”, especially when you consider the current outlook for the worldwide economy.
04.21.2008 | 7:44 am | casinos
As you might have guessed, the casino industry has been very good to a small number of casino owners making many of them multi-billionaires. But what makes them tick? What are they up to?
We hereby take a look at some of the movers and shakers in an industry which has attracted more than its fair share of infighting :-
Sheldon Adelson
Sheldon Adelson is the power behind the Las Vegas Sands Corp which has massive exposure in the Las Vegas area. He is rumoured to be the third richest man in the US with a personal fortune estimated at over $26 billion!
Sheldon Adelson is of Ukrainian decent and his family literally came to the States with nothing, leaving their boy to work his way up from selling newspapers on the streets. His big break came when he co-hosted the COMDEX computer trade show with a colleague, with the trade show going on to rule the computing market in the 1980s and 1990s. In 1988 he acquired the Sands Hotel and Casino in Las Vegas and as they say, the rest is history!
Kerkor “Kirk” Kerkorian
Kirk Kerkorian is a 90 year old veteran of the casino industry and again a man whose family came to the US with nothing. He is the President and CEO of Tracinda Corporation, a company which owns massive casino assets including a number on the Las Vegas Strip. When you consider that this man has a personal fortune estimated at over $15 billion, he has certainly been a success!
Kerkorian had a very strong interest in flying when he was younger and it was on his first flying mission to Las Vegas that he spotted the potential for what is now the Las Vegas Strip. He acquired 80 acres of land back in 1962 for the sum of $960,000 which must have been one of the best investments ever made. Land, business and casino investments make up the bulk of the Kerkorian fortune.
04.18.2008 | 6:12 pm | Poker, casinos
Over the last few years the growth in the online casino industry (even taking into account the problems in the US) has been enormous. While casinos had for many years been seen as the domain of men more than woman, this is starting to change and we are seeing more and more ladies playing the casinos, with Poker a great favourite.
So what attracts you to the online casinos?
There seem to be many different angles which attract so many different people which include :-
Privacy
More and more people are happier playing online Poker in the privacy of their own home, maybe when the kids have gone to bed and the house is quiet. While some people find it easier to concentrate with no sound, others enjoy the stimulation of a traditional casino, although the privacy angle is growing in popularity.
Less Pressure
While again many people enjoy the task of trying to out psyche their opponents, more and more people are looking to take this vital element out of the game. Even though there are still ways to “turn up the heat” online, these are nowhere near as affective as the face to face strategies many players use!
Keeping Winnings And Losses Private
When you are playing at the tables every person can see how much you have won or worse, how much you have lost. Playing at home allows you to play with as little or as large a stake as you feel comfortable without feeling intimidated by the big players around you.
Availability
The availability factor is also very important to those who play online Poker as rather than play to the hours of the Casino it is possible to play when you like – this can be in the middle of the day or the middle of the night!
There are many different reasons why the online Poker industry especially has shown substantial growth and why it will be a continuous threat to the traditional casino.
04.17.2008 | 6:56 am | News, casinos
While the famous Las Vegas strip has hosted many an interesting battle over the Poker table, a new gambler is in town this Saturday when Welsh boxing sensation Joe Calzaghe puts his world championship on the line against US great hope Bernard Hopkins.
The last few days have seen a wave of travellers arrive in the city with the chance to play the tables and catch the fight. The scene has been set for a great fight with Hopkins being particular outspoken in his press conferences trying to fire up the US crowd to get behind their champ. So has this impacted upon the casino drop?
The US is no stranger to the Brit affect as witnessed when Ricky Hatton came to town in his recent boxing defeat, so what is it about boxing, the British and casinos?
For many fight fans a boxing match in the US is a chance to put together that dream holiday with their friends and family – although it appears to be more like a stag weekend than a family trip at the moment!
The UK has long had a strong attraction to the US and Las Vegas, so when you put this together with the chance to support a Brit abroad the pull is too much for many. Fight fans have been planning this break for months and there are very few airline seats available and hotel space is now at a premium in the centre of the city. The invasion has started!
Las Vegas is one city which seems to have it all and the casino owners do not mind spending big to attract the big fights, the big shows and superstars from all walks of like. Las Vegas may have lost its title as the most lucrative casino venue in the world but when you add in the entertainment there can be few places in the world which come anywhere near to it.
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