Casino Legislation News
By David Clifton, Clifton Davies Consultancy Limited
In the immortal words of Yogi Berra: “It’s tough to make predictions, especially about the future.” Despite this, some things may safely be said about the future of the gaming market in Atlantic City. One thing we know for certain is that Atlantic City will never return to its heyday, when gaming revenues there rivaled those of the Las Vegas strip. Competition from neighboring states is probably the greatest single factor that caused the downturn, resulting in the closing of several casinos.
Ahead of next week’s Sports Betting USA webinar on the 15th August (register here) exploring how leagues are preparing for possible scenarios coming out of the Supreme Court ruling in the New Jersey sports betting case, Ewa Bakun, Head of Content at Clarion Gaming, shares her insights.
South Korea wants casino expansion but is its economic model viable? By David McKee
With Japanese casinos still somewhere in the hazy yon and the Chinese government turning the pressure on Macao up and down like the burners on a stove, South Korea and Singapore are where the action is. However there’s one significant difference between the two: if you’re a South Korean you can’t gamble in your native land. Almost.
A series of delays and setbacks jeopardize the largest privatization in Greece and one of the biggest real estate projects in Europe: the redevelopment of Athens’s former airport area at Elliniko. This affects in a great way the already crisis-hit Greek casino market, because one of the first construction projects that is to be built on the land is an integrated casino resort facing the Agios Kosmas marina.
OPAP, Greece’s leading gaming and lottery company aims to raise up to 200m through a bond issue in order to finance it’s investment of 35.000 VLTs.
The bond issue, is expected to roll out until the end of March, not only will provide the state-run with much needed liquidity in a cash-starved economy, but will also act as a vote of confidence, just before the launch of the much-anticipated VLT operation.
by Giulio Coraggio, Head of the Gambling Law group at the law firm DLA Piper
With the impacts of Thursday 23rd June's momentous referendum decision for Brexit still seeping in, I must unfortunately forecast that the future is undoubtedly bleak for the British casino industry. I know this will not sit well with a traditionally libertarian industry, who many I am certain will have voted to ‘regain control’, but for our industry this is an absolute nightmare.