If you like to keep your finger on the pulse of what’s happening around the world in the casino and gaming sector, then we are here to provide a helping hand with our summary of some of the key stories and developments that have caught our eye this week.
Los Angeles Icon Gets A Facelift
The Bicycle Casino has been one of the mainstays of the Los Angeles gambling circuit for many years in the state of California. Having first opened in 1984, the beginning of 2016 will see the Bicycle Club relaunched following a major make-over. The major change has been addition of a new luxury hotel to the premies – seven stories and ninety nine rooms will transform the beloved casino into the new style of entertainment resort that seems to be favoured by casino operators around the world.
Sri Lanka debates casino fees
Earlier in 2015 the government of Sri Lanka imposed an entry levy of USD$100 per person for entry into any of the country’s casino premises. While it was announced in March 2015, the entry levy hasn’t actually been activated yet as it required parliamentary confirmation. However, in an about face, the Sri Lankan minister of Finance has now announced that the casino entry levy will be removed – instead the government is seeking to increase the fees that it charges casino operators and will also raise the tax on any profits made from casino operations. Sri Lanka has four casinos in operation but it seems that the current government is not particularly in favour of the country’s casino sector. Proposals for new casinos have been blocked, and an area in the capital Colombo that had been previously earmarked for a casino development will now be used instead to establish an international finance centre.
Saipan gets a temporary casino
The Pacific island of Saipan gets its first taste of casino gaming with the opening of a temporary casino. The casino is operated by Imperial Pacific International Holdings who are listed in Hong Kong. Eventually a permanent casino will be developed on the island, but in the meantime the temporary casino is in operation with forty five gaming tables and 106 electronic gaming machines. You may not have heard of Saipan before, but it is an island in the Pacific that forms part of the U.S. Commonwealth of the Northern Mariana Island. Imperial Pacific is planning to construct a major gaming resort on the island at a cost of USD$7.1 billion. Imperial Pacific has traditionally been associated with food processing products, but the company increasingly appears to be focused on casino operations and building its exposure to the gaming sector in Asia.
Whether you are interesting in travelling to exotic destinations for your gambling adventures, or perhaps you are considering in some of the international casino operators who are leading the development of some of the world’s biggest gaming resorts, make sure you do your research before betting it all on black.