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Chinese Government Card Swipe Crackdown Hits Macau

Chinese Government Card Swipe Crackdown Hits Macau

Gambling funds obtained through illicit card-swiping in Macau are estimated to 12 % of mass market turnover. (Image: wikipedia.org/Brenden Brain)

The result of Asia’s imminent crackdown on the usage of hand-held card swipers is being felt in Macau, with the Wynn Macau witnessing its market decline that is biggest since October 2011.

Macau’s casino economy has soared over the last couple of years, so much so that it now eclipses vegas while the gambling money of the world, nevertheless the Chinese government’s sudden enforcement of a ban on unlawful money transfers has investors worried; Wynn Resorts Ltd. fell recently to 8.5 percent at the close in Hong Kong trading, while MGM China Holdings Ltd. dropped 8.2 per cent for the same duration. The Galaxy Entertainment Group Ltd., meanwhile, fell 7.6 percent, while Sands China Ltd. dropped 4.6 %, and SJM Holdings Ltd., 6.6 per cent.

Visitors to Macau from the mainland are permitted to bring a maximum of 20,000 yuan ($3,200) into the gambling hub and could only withdraw 10,000 yuan per time, per card, from money devices. To swerve the limitations, tourists have the ability to buy goods from local pawn shops utilizing their debit cards then trade them for local money with the pawnbroker that is same.

Illegal Card-Swiping Amounts to $6 Billion

However, the use that is increasing of machines in gambling enterprises has perhaps not only caused a slump in Macau’s pawnbroking indus Continue reading Chinese Government Card Swipe Crackdown Hits Macau

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Nevada State Gaming Revenue Up As Las Vegas Recovery Continues

Nevada State Gaming Revenue Up As Las Vegas Recovery Continues

The nevada Strip enjoyed a healthier revenue spike in March. (Image: Wikipedia.org/Lasvegaslover)

Signs that vegas continues on the road to recovery that is financial as the Nevada Gaming Control Board announced that statewide income had increased 7.6 percent, to $982.2 million, through the month of March, and by 10.9 percent regarding the Strip, to $560.7 million.

The numbers reverse a two-month decrease in gaming revenue to date in 2014, with table games, and baccarat in specific, yielding a turnover that is robust. Year-over-year, baccarat revenue increased by 39.9 percent in March, while craps income grew by 36 percent, and blackjack up by 6.1 percent.

Slot machine turnover, meanwhile, had been up 3.8 percent, showing an increase for the month that is third a row. Baccarat, a high roller game which analysts believe ended up being instrumental in maintaining the casinos afloat in the wake regarding the financial meltdown, grew to $101.8 million in income, with the cards favoring the house 4 % more than they did final 12 months. However, even without baccarat, statewide profits would still be up 4.8 percent throughout the board.

Brand New Demographic

The figures show signs that customers are spending and gambling again, although they also suggest a brand new Vegas that is affluent demographic emerging the one that spends money on dining table gaming, nightlife, restaurants and tourist attractions, ra Continue reading Nevada State Gaming Revenue Up As Las Vegas Recovery Continues

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Nj On The Web Gambler Claims Identity Theft to Avoid Debt

Nj On The Web Gambler Claims Identity Theft to Avoid Debt

Diana Zolla is accused of inventing an identity theft tale in an attempt to avoid paying online gambling debts. (Image: New Jersey State Police)

There is nothing newsworthy in regards to a gambler picking out some excuse why they can not or shouldn’t have to pay their debts off. It happens on a regular basis, so it is usually only the stories where millions are in the line that attract attention. But one player at New Jersey’s online casinos made waves recently by using a unique excuse that would never fly at a live venue: according to her, she had beenn’t the one who spent the amount of money.

A New Jersey woman called Diana Zolla has been charged with theft by deception after claiming that she had been a target of identity theft. She ended up being utilizing the story in a make an effort to avoid spending off nearly $10,000 in debt and banking fees that she had accumulated playing at the licensed gambling that is online in the state.

Investigation Reveals Deception by Zolla

However, detectives reviewed Zolla’s records. After looking at banking transactions, documents from the gaming that is online, and ISP records, they came to the final outcome that Zolla created the account and was the one who spent the $9,565 in question.

Zolla, a woman that is 31-year-old Jackson Township, was launched, but faces a mandatory look in Atlantic County Superior Court.

‘People who gamble online may be tempted to fabricate an identi Continue reading Nj On The Web Gambler Claims Identity Theft to Avoid Debt