12/8/14

Casinos and Notorious Celebrities

Celebrities and their antics are mostly harmless. However, at times these antics might not prove to be good for their reputation. There are countless tales of celebrities – mostly from the field of entertainment and sports – who have been kicked out of casinos due to their behaviour. Here are a few notable ones.

  • Ben Affleck

Ben AffleckBen’s name comes up on top when casino antics or gossip are mentioned. May be because the incidents with him happened in 2014 and are fresh in people’s mind. It is now well known that he loves the game of blackjack. He himself mentioned that he took his time to learn the strategies of the casino game. However, it ended up costing him dearly when a casino in Las Vegas banned him for life early this year. The reason given was his card counting during the plays.

However, it wasn’t the first and last time that he was shown the casino doors. Later in June, Affleck was asked to leave a casino in Ontario for the same card counting reasons. It’s bad for casinos to lose a celebrity client and also for the ace actor and director who is an expert in blackjack.

  • Lil’ Wayne

Lil’ WayneLil’ Wayne has the reputation of being a nice guy and is much-respected in the music industry. However, he got a bad reputation for his drinking problem, which got him into trouble on more than one occasion. It is said that it was his drinking that caused him to misbehave in a casino in Vegas from where he has been banned for life. He continues to play at casinos around the US as he loves craps and poker.Allen Iverson

  • Allen Iverson

Allen Iverson is a famous sports star who is loved for his talent on the basketball court. However, he has not been as courteous off court, especially at some casinos in Detroit from where he was asked to leave. The reason cited was his uncouth behaviour. It was said at the time that he was rude to his blackjack dealer, the servers and other players.

11/17/14

Problems for James Packer in Japan?

Australian billionaire James Packer has ambitious plans for his casino empire. Japan is at the center of his plans, with the businessman hoping that they will go ahead with casino legalization plans in the next few months.

James PackerUnfortunately for Packer and his company, these legalization plans have hit quite a few road bumps in recent weeks. There is even talk of the Japanese prime minister losing motivation to push through legalization. This would be a major blow for Packer’s plans in Japan.

It was initially thought that these were merely delaying tactics from Japanese opposition members. However, there is a real worry now that the legislation may be scrapped altogether. There is expected to be a few sessions this month in the parliament, but if no conclusion is reached before holiday, James Packer will be worried.

Delays -

There is now a good chance that the legalization vote will not take place in 2014. James Packer and other casino moguls will have to wait until 2015 before they sink their teeth into Japan. However, a complete abandonment of this issue seems very unlikely.

Despite a few missteps in recent months, the Japanese prime minister is still very popular among his people. In a recent visit to Singapore, the prime minister spoke about his complete support for the legislation to legalize gambling in Japan.

The main reason why there has been a delay is that Japan’s parliament is busy with other issues. They have faced many crises on the domestic and international scene in recent months. This has caused the gambling issue to become less important, and the prime minister does not want to appear to have the wrong priorities by pushing too hard.

After a few compromises with the opposition, expect the legislation to go through before the summer of 2015.

10/14/14

Wynn Resort is Getting Higher Gains than Estimated

The founder and CEO of the Wynn Resort is one happy man. The reason is the better than expected Q3 results posted by the company.

 The Vegas gains

Wynn_ResortsThe Q3 profits are higher for the company Wynn Resorts Ltd as the Vegas revenues for the company surged. The rise, which is estimated at 9 percent at their two casinos in Las Vegas, helped the company even when the company profits saw a drop in their Macau profits. Interestingly, it is the Macau casino that accounts for the majority of the casino business from the company. The Macau casinos for Wynn have been registering losses since last few months and this has affected the Q3 earnings for the company if overall performance is taken into account. Nevertheless, the Las Vegas casinos of the company have come to the rescue this time around and helped Wynn with more than expected Q3 performance.

The reasons for loss

The lucrative Macau casino business has suffered due to the Chinese government taking strict measures against corrupt practices. This has affected the casino business even though Macau is the only place in China where gambling business is legal. To make matters worse for the casino business, a new ban on smoking that is recently put into place could further affect the business in Macau. The high-rollers are not very enthusiastic with these new developments in China ad are leaving to play in casinos where there are no restrictions or problems.

However, with everything happening in China, the company is still going ahead with its new resort in Macau that is being constructed and the plans are to open its gate in 2016. This has been not put under hold as the company management believes that the current situation in China that is affecting the casino business is temporary and is bound to improve in the coming months. With the Wynn Palace in business, which is the name of the new upcoming resort and its ongoing Macau and Las Vegas business, the Wynn Resort management is confident of registering better profits in the coming months and years.