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The first month of 2016 is in the can. 30 a barrel, the Chinese economy is serious cause for concern, and the see-sawing financial markets are giving doomsayers a field day.youtube.com How will the economic turmoil affect the gambling market? It all sounds rather grim but is it really that bad? In times of difficulties they say that: �[https://www.youtube.com/watch?v=QUKob6A7lFU �industries] that sin… win.’ This week, we’ve got the betting barometer out to test the pressure.youtube.com Is it time to stack up the chips and play hard or visit the cashier and collect? Europe is facing downward pressure due to a slowdown in emerging market economies like China. In the US, interest rates have been raised for the first time in ten years and regulation is finally bringing an end to ultra-loose monetary policy. The IMF has warned that the challenges facing the global economy must be ‘carefully managed to avoid disaster’.
There are still huge imbalances in the system. It is something of a house of cards. Underlying economic data is not weak.youtube.com There is nothing like the amount of leverage in the system as there was when the last crash landed in 2008 - 2009. We’re not facing immediate financial Armageddon. Paraphrasing the noise, it seems that the global markets are flying on a single engine, desperately trying to avoid any pockets of turbulence. With some careful navigation, and a steady pilot at the controls, the economy can continue to cruise - just at a much lower altitude. To get a clear picture of the financial situation on the casino floor, we need to look at the data for both of the world’s biggest gambling destinations: Macau and Las Vegas.
In Macau, the action has taken a tumble with revenue growth turning negative in the casinos.youtube.com In 2013, a ten year betting boom started to turn into a losing streak; gamblers are staying away. 1.49 billion loan, two months earlier. These big players are basically struggling to keep up with their loan repayments. In Las Vegas, the odds are starting to move in the house’s favour. The city - famous for on-stage celebrity revivals - is enjoying its own come back. The 2008 downturn decimated Las Vegas but some canny forward thinking (which we will come on to later) has seen a return in visitors and an upwards spike of revenue. So… why has Las Vegas seen an upward trend as Macau continues to go bust?
The short and simple answer is diversification. Flex. Respond. Adapt. Innovate. The critical difference between the fortunes of Las Vegas and Macau is down to what each destination has to offer. Clearly, both are places where you can play baccarat, blackjack, craps, roulette and every casino game known to man. Gambling is common to both (doh!). The upward trend in the Las Vegas accounts is mainly down to non-gaming revenue. Restaurants, clubs, shows, pool parties, and shopping are the activities that draw in the crowds.youtube.com Gambling - as a percentage of total revenue - is now at an historic low, according to figures on the Nevada Gaming Abstract financial report. "It’s a sign of the changing market," says David Schwartz, from the Las Vegas-based Center for Gaming Research, "Food is growing and gaming as a percentage is shrinking.
What I’m hearing from people is they spend more on food and entertainment than gambling. In Macau, it’s a different story. Despite warnings, the industry has failed to diversify and there is none of the glitz and glam that Las Vegas is renowned for. 250 minimum bets at the non-VIP baccarat tables, Macau is suffering. Some developers are getting on board. Wynn Macau is investing in a 15,000 seat arena and Sheldon Adelson is bringing Las Vegas style attractions to cater for China’s burgeoning middle class. At the end of January 2016, it was announced that legendary house music brand Pacha was opening a 3,000-capacity club, as part of the Studio City resort.
Forecasters anticipate that the mighty Macau will ride out the storm and adjust its offering to cater for a wider demographic. It’s one (massive) potential threat is China. Should the Asian giant ever grant permission for casinos to be built on the mainland, Macau could be obliterated. The wax and wane of the online gambling market continues. In Russia, authorities are considering unlocking the doors to more than 20 million online poker players. In several US states, including Nevada, Delaware and New Jersey, online poker is either already, or shortly to be, regulated, licensed and taxed online. However, it’s election year in the US: a difficult time to get legislation passed. Also, the taxation revenues generated by New Jersey’s online poker licensing have laid rest to the idea that monies coming in from online gambling can be an all encompassing financial panacea.
It is - however - income that requires no sacrifice elsewhere. Globally, online gambling continues to stay innovative - quickly achieving ‘best practice’ related to platform. Poker rooms, for example, all follow basically the same format with relevant branding. Until a new platform gets traction, the modus operandi is ‘improve’ not innovate. Mobile casino platforms are predicted to continue growing this year. With more and more people using their tablets and handhelds to enjoy some time at the casino. The technology is completely dependent on the supporting infrastructure. As 4G rolls out, more and more people will take their recreation online.
As mobile devices become increasingly sophisticated, so they absorb more use. The five buzzwords at the head of this page will be the key to any online gambling organisation’s future success. Social gaming, via platforms like Facebook, where people compete against each other is a continuing growth area. Although constantly mired in class actions concerning ‘allegedly using illegal gambling mechanics’, the cases are usually dismissed. Social casino games are some the top revenue generating apps. Real money, skill-based, games will open up business opportunities for agile businesses. The transition from a desktop-based betting experience to an ‘on-the-move’, social gaming experience is already happening.
It’s just a matter of time. Virtual reality is set to be the breakthrough tech in 2016. There are already several [https://riversweeps.org/software-internet-cafes-online-gambling/ online gambling software] companies lining up with compatible products. Like the mobile market, the success of the software will depend on the affordability, effectiveness, and accessibility of the hardware and technology. 2016 is likely to be a year of steady, but slower, growth. Social gaming will be a key growth driver with virtual reality fluttering on the sidelines. Land based casinos will continue to diversify their offering to appeal to a broader audience and lure in millennials with income to spare.
Regulation battles will continue to deliver both winners and losers. New territories will open up opportunities for established players. Diversification will also be a factor for online operators. Amaya and Playtech are both actively acquiring with this is mind. The big operators will need to watch their marketing spend, as a ratio of their average earnings before interest and tax. It’s getting higher for most businesses. Smaller entities - in some cases paying 15% tax, as part of a regulated business, on top of up to 25% marketing spend - will be swallowed up by bigger corporations. Watch this space. All bets are on!
In 1974 Robert Opel posed as a journalist to sneak backstage at the Academy Awards. Note, this point is debatable. In any case, he did streak across the stage at the famous event. 17. Sheila Nichols, the carthweeling streaker. In 1989 this musician made a name for herself by turning cartwheels named at a cricket game. That is a unique and entertaining take on streaking. It was filmed and aired on TV. Unlike Erica Roe and most other famous female streakers, Nichols was not just topless but totally nude. 18. Yvonne Robb, the Tiger Woods streaker. Back in 1999 a woman streaked across the golf course and ran up to Tiger Woods to plant a named kiss on him. Be honest - have you ever done any streaking?
Submit a CommentYou Must Sign In To CommentTo comment on this article, you must sign in or sign up and post using a HubPages Network account. Good hub that is so so funny,thanks for sharing this piece of work. Everyone loves a good streak particularly the normally comical ensuing chase by whichever authority is in place at the event. The best streak, or strip one might say, that I saw was some years ago near to where I work in central London. During my lunch break, a colleague and me decided to take a walk outside. In front of was a particularly attractive and shapely young woman who captured our attention by taking off her shoes and placing them in a bin. As we continued to walk in the same direction she then took of her socks and placed them in the next bin.
As you can imagine, this started to become interesting and we decided to follow her and see how far she was prepared to go. With a growing audience, carefree smile and after several bins, she indeed went all the way to complete nudity. By this time the police were on the scene having the awkward task of arresting her. Humorously, she did not make it easy for them by deciding walk into the traffic and spin and dance amongst the cars to the delight of male drivers particularly. Eventually, the police managed to get one of their jackets on her and with a cap covering her nether regions, they whisked her away in front of a disappointed jeering crowd. Someone once told me that in colonial America Quakers streaked through Puritan worship services.
Puritans were big on lots of repressive rules, and Quakers thought there should be more freedom in life - hence the streaking. I have no idea if this is true. I've never come across it in any history book. But it has resulted in me looking at the Quaker Oats man in a whole new light. Nice hub, streaking is sooooo funny. Oh we used to have a naked guy that lived at the local City Dump.. We got so used to it, it just became normal. He was the local hero. Love my cultrure and its sense of humor! Great Hub on the naked truth! The things people do for money and attention. I have no further comment. Streaking was "the thing" when I was in grade school. I remember having a slumber party one night where me and the other 5 girls streaked under the moon down at the lake at my house. The next day our next door neighbor knocked at the door and told dad what he had seen.
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