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Create your profile now Close. Court Filter. Apply Filter. Judge Filter. Filter by Judge Name Beta. Motion Filter. Other Filters. From To From To 4. From To 6. From To 1. From To 0. Before Upload pleading to use the new AI search. Cases cited for the legal proposition you have searched for. North Yorkshire County Council v. Laurie v.
Holloway 2. Mecca Leisure Group Plc v. Chatprachong 3. Begum v. London Borough of Tower Hamlets 4. Court: United Kingdom House of Lords. Fayed, R on the application of v. Gaming Board for Great Britain, ex p. Benaim 8. Lipkin Gorman v. Karpnale 9. Rank Group Ltd v. Locabail UK Ltd v.
Aspinall's Club Ltd v. Al-Zayat Revenue and Customs v. The Rank Group Plc Court: United Kingdom Supreme Court. Grosvenor Casinos Ltd v. National Bank of Abu Dhabi Aspinall's Club Ltd. Regina v. Kelly Chief Constable of the West Midlands, ex p. Wiley Court: First-tier Tribunal Tax. Keyword Alert s. New Alert Close. Create Alert. Madras High Court. Tripura High Court. Jharkhand High Court. Andhra Pradesh High Court. Gujarat High Court. Bombay High Court. Calcutta High Court. Kerala High Court.
Uttarakhand High Court. Supreme Court Of India. Madhya Pradesh High Court. Patna High Court. Chhattisgarh High Court. Jammu and Kashmir High Court. Orissa High Court. Manipur High Court. Meghalaya High Court. Karnataka High Court. Sikkim High Court. Privy Council. Allahabad High Court. Delhi High Court. Gauhati High Court. Chhatisgarh High Court.
Himachal Pradesh High Court. Rajasthan High Court. Select All Deselect All. Central Administrative Tribunal. National Company Law Tribunal. Authority For Advance Rulings. Board Of Revenue. Debts Recovery Tribunal. Company Law Board. Aided by technology, enormous impetus has been given to competition and innovation. This remains a constant in pursuit of the bottom line.
Precisely because there is such a grounded architecture today, figuratively and literally, there is a cannier sense of the value of corporate governance and social responsibility emerging. No restraint then in the stance of this first issue on regulation, casting an eye over the recent past to assess the globalising casino enterprise. Las Vegas, the chameleon heartland of gaming, has arrived in the 21st Century on top form and the vista is as exciting and dynamic as ever: from new casino frontiers in Asia to the big cyber waves roaring across Continents.
Together with UK legislation, this complex pressure is pushing at the boundaries of American resistance to Internet gambling. A shrinking world is bringing the industry closer together and its effect becomes more significant beyond, economically, politically and socially. It was given a public edge recently with assistance to the Asian Tsunami aid agencies, which occurred across much of the gaming industry earlier this year, despite the odd ethical glitch.
In part it is derived from a community-sensitive trend that is well established as a necessary public counterpoint to core capital growth. Identifying new sources of development increasingly requires attention to the wider international landscape. The opinions you will get, will be the ones you can depend on. By Peter Collins. Giant corporations run multiple casino and resort properties across the globe worth billions of dollars. The casino businesses of today are no longer run by individuals or families.
They are major companies with high profiles on Wall Street. Sophisticated electronic technology has permeated almost every aspect of the business — security, surveillance, slot machines, cages — even the cards and chips themselves are like something out of a science fiction movie. I often wonder what our slots players in would have said if they had suddenly received a small white piece of paper with some lines on it instead of a tray of shiny tokens when they cashed out!
There is a rigorous emphasis on compliance and social responsibility in most markets that I, for one, welcome wholeheartedly. In short, the industry is in immeasurably better shape than it was when my father was running those smaller places in the desert 30 years ago.
They want the same thing the slots player at the Flamingo wanted in — they want a great experience. The key to that great experience is, was and will always be the one-on-one interaction between the front-line casino employee and the customer. I believe that positive interaction between people is more than merely a human want — it is a human need. As we push toward ever larger casino and resort properties with ever more sophisticated technologies, we must never lose sight of that basic need.
We ignore it at our peril. The gaming organisations that invest in all the amenities and technology without losing sight of that all-important human element — with both their customers and with their staff — will be the ones that succeed despite the explosion of international competition. And, having been intimately involved with the industry since I began practicing gaming law in , I must admit I understood that viewpoint. The spectre of a federal gaming tax had created the need for a unified industry response, but whether the industry could sustain its own national association after that threat had passed was a great unknown.
After all, the gaming industry was among the last bastions of true entrepreneurs. Casino companies competed ferociously for every customer and for every license in every new jurisdiction. Every company sought to express its individuality — individuality that was often a direct reflection of the men who led them. Unlike more mature, longer-existing industries that were into their fourth or fifth generations of leadership, the casino industry was still very young.
In , it had barely been six years since casinos were legal anywhere in the United States beyond Nevada and Atlantic City, with first- and second-generation leaders — leaders accustomed to facing challenges independently. The continued existence of the AGA and the ability of our industry to work together on a wide range of difficult issues — many where there exists wide disagreement among our members — are tributes to those leaders and to the rapid maturity and growth of the industry itself.
The growth of commercial casino gaming in the U. In , Iowa and South Dakota legalised the first casinos outside of Nevada and Atlantic City, marking the beginning of a dramatic expansion over the next three to five years. In , This rapid growth has brought jobs, a stable tax base and hope to many areas of the U. Rapid growth and expansion also brought a host of challenges and ultimately the need for the industry to create an association to help meet those challenges.
Although the idea of a federal tax on gaming never got beyond the proposal stage, it was the catalyst for the creation of the AGA. Normalisation began with the removal of the criminal element from gaming. By the time the AGA was created — in fact, by the time of the expansion in the early s — organised crime had been eliminated from casino gaming.
When I began practicing law in Reno, Nevada, only the aura of the outlaw days of gaming and a very few of the notorious players still existed. And even those few were gone by the early s. Today, no industry in the U. From the individual state gaming commissions to the Securities and Exchange Commission SEC , casino companies run a gauntlet of rules and regulations that cover every aspect of the industry.
Acceptance of casino gaming as a legitimate investment by corporate boards and tens of millions of stockholders took the industry that much closer to normalisation. Expansion itself has proven to be the most significant step toward normalisation. A number of states legalised gaming in the early s because they saw the opportunity to boost their flagging economy and tax rolls.
The expansion took place in the face of a veritable firestorm of opposition and dire predictions that the communities that welcomed casino gaming would live to regret the decision. That has hardly been the case. In fact, political and civic leaders in those new gaming communities,. They see casino gaming as an important part of the community and find gaming-entertainment a normal leisure activity. The proof of this affinity is found in a survey the AGA released earlier this year.
Another finding from. All these changes are a testament to a vibrant, mature industry. Eighty-two percent of these leaders said they consider the casinos in their communities to be good corporate citizens. Those results are at the local level, from people who work with the industry every day. Interestingly, policymakers and lawmakers outside gaming jurisdictions, as well as a skeptical media, have always lagged behind the American public when it comes to the acceptability of casino gaming as a viable entertainment option.
Industry surveys for more than a decade have shown from 79 percent to as high as 92 percent of the U. Despite this public support, casino gaming expansion remains highly controversial. It was even more so when the AGA opened in the mids. A robust anti-gaming movement fought expansion at every turn.
This movement derived its energy primarily from religious activists who were morally opposed to gaming. These politically savvy activists understood that simply opposing casinos on moral grounds would not persuade elected officials who were motivated by the need to create jobs and economic development.
Thus were born a host of myths about the impact of casino gaming. The AGA came into existence at almost the exact time anti-gaming opponents were at their strongest. There was a long list of these myths, allegedly supported by academic and scientific proof. In fact, the academic sources were clearly biased against gaming and the scientific proof was never peer-reviewed. Today, all of these arguments have been discredited, and you rarely hear them used in opposition except by die-hard opponents.
But in most, if not all of them, were accepted as gospel by a majority of the media and many policy makers and regulators. The AGA countered the myths with a simple strategy. We were determined that we would allow no negative accusation to go unchallenged.
And, we began to fund peer-reviewed research by the most reputable universities in the U. Shelley Berkley D-Nev. All of these activities helped discredit the opposition, but probably nothing had a greater impact than the National Gambling Impact Study Commission. The Commission was created by rabid opponents of gaming in the U.
Congress and they, no doubt, thought it would be a powerful propaganda tool against the casino industry. In fact, it turned out to be just the opposite. When the Commission idea was first introduced in , it sent ripples of concern throughout the industry.
Not because we were worried about the outcome of a fairly conducted study, but because we were concerned that the Commission would be nothing more than a witch-hunt against the industry. The AGA worked extremely hard with its allies on Capitol Hill and in the Administration to ensure the Commission was balanced and had no preconceived agenda.
The original version of the legislation authorising the Commission called for a study of the negative impacts of gaming, with no acknowledgement at all of the possible positive impacts of gaming. We also were concerned about the make up of the Commission. We successfully made our case for a balanced study, and the final version of the legislation called for an examination of the overall impact of gaming and ensured a balanced committee membership. With those changes, the industry no longer viewed the Commission as a threat, but rather as an opportunity.
The AGA provided the Commission with the studies we had conducted, but the real proof of the positive impact of the industry came during the 17 meetings and hearings from June to June where the commission members heard first-hand testimony from the people in casino gaming communities. Even in the one area where the Commission expressed its greatest concern — problem gambling — the final report credited the commercial casino industry as the only facet of the gambling industry making significant contributions to addressing the issue.
It also proved to a nascent industry the value of working together through the AGA. Our response to the threat the Commission initially posed. Had the Commission gone the way its originators had hoped, there is no doubt there would have been severely negative consequences for the industry. Even with the largely positive result, the AGA still is faced with daily challenges. Many of those challenges come at the federal level, and the primary mission of the AGA is to help the industry meet those challenges by addressing federal legislative and regulatory issues that affect our members.
With help from Congressional delegations from gaming states and the active support of our member companies, the AGA has managed to win these battles, and no adverse legislation has passed since we opened our doors. The one certainty about the future for the gaming industry is that there will continue to be challenges.
Legislatively, we will always be threatened with federal interest in tax revenues, restrictions on gaming activities and the numerous regulatory requirements all industries face, as well as those unique to casinos, such as those presented by handling large amounts of cash. From working to establish workable indoor air quality standards for casinos, to working with the U. Coast Guard to establish fair security standards for permanently moored riverboat gaming vessels, the AGA will continue to address the legislative and regulatory issues affecting our members.
Among the major legislative issues the AGA is closely monitoring is Internet gambling — a subject that has been much debated within our membership for a decade. Ironically, the first online casino launched in the same year the AGA was created, and the industry is still not of a single mind on how to approach the issue. The U. Congress is equally uncertain of how to deal with the issue: some in that body have recommended a study commission, while others have introduced legislation seeking to make clear that Internet gambling is illegal in the United States.
At this point, the AGA is opposed to legalising Internet gambling because we do not believe the technology. And, we consider tight regulation critical to the continued growth of our business. As for future legislation, the AGA evaluates specific pieces of Internet legislation on a case-by-case basis, but any Internet gambling legislation must meet three tests to gain our support: 1 The right of states to regulate gaming must be protected; 2 It must not create competitive advantages or disadvantages between and among commercial casinos, Native American casinos, state lotteries and pari-mutuel wagering operations; and 3 No form of gaming that currently is legal should be made illegal.
The continued growth of the industry, not only by expansion but within the jurisdictions where we currently operate, also presents new challenges and opportunities for the association. Initially, the AGA did not participate at all in the public or political debate at the state level. In , the AGA board decided our organisation should participate at the state level by providing expert testimony to lawmakers and helping correct erroneous propaganda presented by gaming opponents.
As the industry matures, there may be a greater role for the AGA in working with member companies at the state level, particularly when it comes to the perception of the industry among the media and other opinion elites. And the views of the media and opinion elites are a continuing problem. Despite the overwhelming support for casino gaming among the public and local community leaders, there continues to be a disconnect, both at the state and national level, within the media and among those who help set policy and influence lawmakers.
The AGA considers changing negative views of our industry among these groups as one of its highest priorities in the coming years. Another priority is the continued growth of Global Gaming Expo G2E , our industry trade show and conference, which celebrates its fifth year this September.
G2E — developed by the industry, for the industry — has grown into the largest gaming business event in the world. With the ongoing expansion of gaming at the international level, we plan to bring G2E to other continents in the near future. Finally, in addition to managing these issues and projects, the AGA directs a number of industrywide initiatives. One issue the U. From its inception, the AGA has presented a consistent position on disordered gambling.
We acknowledge that, while the overwhelming majority of people who gamble do so responsibly, there is a very small percentage one percent of the population, as determined by the National Research Council of the National Academy of Sciences that cannot. As an industry, we are committed to funding and supporting research and programmes designed to address this issue. To that end, the AGA has been actively involved in promoting responsible gaming within the industry and in communities where casinos operate.
These grants have resulted in groundbreaking research and have even spurred the U. The NCRG also sponsors an annual conference, which brings together top researchers and clinicians in the disordered gambling and addictions field with policy makers, lawmakers and regulators to discuss new approaches to disordered gambling.
Throughout its year existence, the AGA has provided member companies with the most up-to-date information on effective responsible gaming programmes and sponsored numerous activities to raise awareness among employees and managers. The commitment of AGA member companies to responsible gaming was most dramatically demonstrated in , when all member companies adopted a comprehensive set of guidelines for integrating responsible gaming tenets into their daily operations.
The AGA Code of Conduct for Responsible Gaming establishes high standards for employee and patron education, prevention of underage gambling, alcohol service and advertising. The American Gaming Association celebrates its 10th anniversary this year with a long list of successful undertakings and a new list of challenges that stretches into the future.
The AGA represents an industry that has grown well beyond the slot machines and table games that characterised it little more than a decade ago into a multifaceted entertainment industry. There is no longer any doubt that this industry can unite within an association to seek the common good.
The experts who were uncertain a decade ago have been proven wrong. Frank J. Fahrenkopf, Jr. In his role as chief executive of the AGA, Fahrenkopf is the national advocate for the commercial casinoentertainment industry and is responsible for positioning the association to address related regulatory, political and educational issues. A lawyer by profession, Fahrenkopf gained prominence during the s, when he served as national chairman of the Republican Party during the presidency of Ronald Reagan.
After reflecting briefly on the history of casino financing sources for Nevada casino operators, this article then presents a few thoughts about 1. In many respects, the evolution of the Nevada casino industry is reflected in the types and amounts of financings presented over time, and a quick overview of casino financings presents a historical perspective of these changes. Before , any individual with an interest in a Nevada-. One of the early leaders in providing bank financing for casino operators was E.
Parry Thomas, who led what was then a very small Las Vegas bank. Other than Mr. Regulators faced constant battles to determine suitability of both operators and the sources of funds used by those operators. In , the Nevada legislature adopted legislation allowing for participation by publicly traded corporations in the Nevada gaming industry.
In , the Nevada Gaming Commission adopted Regulation 16, governing public companies and public offerings of securities. Coupled with the well-documented history of Howard Hughes acquiring several Las Vegas casinos in the late s and early s, these statutory and regulatory changes broadened the sources of investment capital for Nevada operators. The availability of debt and equity financing spreads the risk of casino investments among bondholders and stockholders, much like insurance spreads the risk of catastrophic loss among policyholders.
As such, more predictable rates of return can be achieved for investors, and more predictable sources of capital are available for licensees. This allows longer-term visions of the industry to develop, not as dependent on local conditions.
The advent of public sources of financing provided comfort for political and regulatory officials as well: the value of a casino license was more than just the ability to operate a casino. It carried with it the potential to reach the public capital markets to facilitate expansion.
Along with federal regulatory oversight through the Securities and Exchange Commission, Nevada gaming regulators could rely on additional controls and accountability imposed by the debt and equity investors in their indentures and offering documents. The number of public companies licensed in Nevada increased gradually to 39 by These included 19 casinos with 2.
The overwhelmingly successful debt financing of the Mirage in opened the door for increased participation by major Wall Street firms, including Solomon Brothers and Bear Stearns, and the gaming industry was a more attractive, and less stigmatised, place for traditional investment dollars. Sixteen public offerings of debt were approved that year, along with twelve equity public offerings and two public company registrations not accompanied by a debt or equity offering at the time.
Debt financings still reflected rates higher than for investment-grade securities, at least in part reflecting continuing stigma against the gaming industry but also reflecting the relatively short experience that Wall Street firms had with companies involved in gaming. However, these financings moved beyond the traditional asset-based, collateralised debt that previously had been the only money available. Examples of financing rates in the early s include By , fifty-eight companies were registered as public companies with the Nevada Gaming Commission.
In , the Nevada Gaming Commission adopted its institutional investor regulation, allowing waivers from otherwise-mandatory licensing requirements for passive investors in Nevada licensees. Four companies received such waivers at that time, and the number of companies obtaining waivers increased to eight in and 11 in , before going back to eight by In more recent years, Nevada has seen fewer equity offerings, but unsecured debt financings have become much more common.
Interest rates have come down significantly, reflecting both the more favourable interest rate environment and the quality of gaming industry balance sheets, as companies have matured and shown consistent cash flows attractive to the investment banking community. Newer companies still issue junk bonds, and collateralised debt is still required for smaller operators. For the major casino companies, large credit facilities are very common as part of commercial paper programmes similar to those of large non-gaming companies.
These maturing financings have occurred as the Nevada gaming industry has moved from properties focused on selling gaming, to facilities where non-gaming revenues exceed those generated in the casino itself.
The destination4. The need for alternative activities for visitors to fill these longer stays has been met by the increased recreational, entertainment, dining and retail options being offered in the Las Vegas market. Other gaming areas, such as New Jersey and the emerging Asian market, are capitalising on this concept as well.
Technology provides continuing benefits for regulatory accountability, along with the potential for fraud and abuse of a far greater magnitude than presented in past decades. The challenge facing regulators is how to analyse state-of-the-art innovations, so regulatory approvals do not cause inordinate delay in new products getting to market, while at the same time protecting the public and the state from systems or games susceptible of unfair play or inaccurate reporting.
In Nevada, as in many jurisdictions, the time for processing new ideas is affected directly by the available human and financial resources. We will continue to work to meet the demands of the industry as promptly as possible, within the context of our regulatory duties to protect the public and the state. Nevada has tried to balance the need for innovation with the obligation to control gaming operations, not always being at the forefront by approving any new idea or concept being advanced, while allowing technological progress that is shown to meet regulatory standards.
A sub-set of the technology challenges involves interactive gaming, an activity mired in legal concerns within the United States. In Nevada, our legislature has authorised the regulation of interactive gaming, provided that three determinations are made by the Commission.
To date, these determinations have not been made, and prospects for them are not favourable in the foreseeable future. The first determination is that interactive gaming can be operated in compliance with all applicable laws. The federal government has consistently interpreted the federal Wire Act as prohibiting the use of the internet for casino-type gaming, and any Nevada operator violating federal law jeopardises its Nevada license.
Second, the Commission must determine that interactive gaming systems are secure and reliable, with reasonable assurance that players will be of lawful age and communicating only from jurisdictions where it is lawful to make such communications. The technology seems to be near a point where these factors can be addressed through appropriate testing and regulation. Finally, the Commission must determine that interactive gaming regulations are consistent with the public policy of the State of Nevada to foster the stability and success of gaming.
External threats to individual properties, as well as to the entire industry, require constant vigilance and cooperation among property-level security personnel, state and local police agencies including the Gaming Control Board in Nevada , and federal and international authorities. Communications must remain open among agencies in different states and countries, as the industry must deal with worldwide activities and ramifications to protect its patrons and properties.
In Nevada, appropriate investigative, enforcement and auditing processes must constantly be reviewed in light of the latest intelligence information. Responsible gaming is another policy issue that the industry and regulators should address proactively. As greater information is made available through academic studies and on-site observations, effective methods of dealing with irresponsible gaming can be refined and implemented, within the industry and possibly through appropriate governmental regulation.
Some jurisdictions are better able than others to enforce selfexclusion programmes, simply because of the existing conditions under which gaming is conducted. Further developments dealing with responsible gaming will include cooperative efforts among the industry, the education and treatment communities, and legislators and regulators.
Industry consolidation is a trend requiring continuing regulatory oversight. These issues are certain to arise again, and regulators must review comprehensively all aspects of proposed combinations to evaluate the positive and negative consequences of this trend. Nevada Gaming Control Act and related statutes and regulations. That process has evolved over the past 50 years in conjunction with the maturing of the industry as seen through the types and amounts of financing available to Nevada operators.
Financial accountability based on industry selfpolicing has been and remains a strong underpinning of worldwide confidence in the fairness and accuracy of the games themselves, as well as the reporting and payment of taxes to governments. Companies in the industry must operate in many jurisdictions, often with conflicting regulatory requirements. In turn, regulators in each jurisdiction must function under the legislative and policy directives given to them.
Uniformity in regulation is frequently advanced by the industry as a way to streamline regulatory compliance without sacrificing regulatory control. Much progress has already been made in some areas, with multi-jurisdictional forms being used and information being exchanged to avoid unnecessary duplication.
The world of gaming is shrinking as the industry spreads, with ramifications on gaming matters in one part of the world affecting activities in jurisdictions thousands of miles away. Looking after the money has always been a key regulatory tool, and it requires more expertise, more sophistication, and more diligent monitoring to keep up with the maturing gaming industry. Regulators must keep their eyes on the money, from sources and uses of cash, through accounting for operations, through fairness of games, and through proper reporting and payment of required taxes.
With appropriate diligence, the hope is that regulatory controls allow flexibility for operators while protecting the integrity of the industry. The Commission does not dictate business practices of licensees, except where those practices implicate a regulatory concern. With appropriate regulatory oversight, the gaming industry will continue to expand and grow in sophistication, providing entertaining leisure activities to people throughout the world. Fifty years from now, we can expect that the gaming industry will bear little resemblance to what we see today.
Innovations tempered by regulatory control can make those changes positive and responsible for the industry, for governments, and for those who enjoy the activities offered. The same logic extends to the more recent consolidation of major gaming companies, and the diversification into non-gaming but related operating components adding food, retail, entertainment, and other destination-resort activities to the income statement lessens the risk and instability of an exclusively-gaming operation.
Prior to that date, he served as a member and chairman of the Nevada Commission on Ethics. He has been a practicing attorney in Las Vegas, Nevada, since , specialising in commercial litigation, reorganisations, and administrative law. Prior to his appointment to the Gaming Commission, Mr. At various times, he has represented casinos, bondholders, gaming manufacturers and other creditors in chapter 11 proceedings. He has also handled purchases and sales of gaming properties, as well as civil litigation and other dispute resolution proceedings for and against licensed operators.
He has been a Nevada resident since Her tremendous assistance is recognized and appreciated. In the year Bill Gates discovered the computer. Isn't it time you discovered the business of Poker? In the early days of personal computers, anyone with a degree and an idea could get lucky once. Same goes for launching a poker site. Maintaining a winning hand, however, is far from easy.
But after six years in business we still do. Our turn-key solutions, with access to millions of players, open the door to long-term success. You want in? Visit us at www. The Association of Gaming Equipment Manufacturers AGEM was organised five years ago to promote and represent the interests and concerns of gaming manufacturers and to provide a united voice on matters of importance to our industry.
The gaming manufacturing industry occupies over four million square feet of manufacturing space throughout the state. GEM works to promote excellence in the manufacture of gaming devices and equipment, and assist manufacturers in the planning and presentation of industry trade shows. Some of the most successful and influential companies in the industry are AGEM members.
While AGEM members are based around the country and globally, most have a significant presence in the state of Nevada. Those employees include software designers, graphic artists, engineers, cabinet makes, and a host of other skilled and talented workers who manufacture, market and maintain gaming machines, bill acceptors, video monitors, audio-video display systems, and other state-of-the-art gaming technologies.
These well-paid workers pump millions into the economy each month, while creating even more jobs and a steady steam of tax revenue. Now that we have established ourselves, we are better able to turn our attention to legislative activities within the United States, and stay abreast of the many gaming changes that are occurring internationally.
In an effort to provide a more secure gaming experience for casinos and their patrons, AGEM member companies continually take pro-active steps to ensure their machines are immune from dishonest play and cheaters.
I believe the advancement of security features and their refinement is more about increasing patron trust in the slot machine. Game protection, through the use of a shuffler, is a self-fulfilling prophecy for both parties. People who want to cheat at table games naturally gravitate to high payoff games because the risk-reward factor is more favourable to them.
The features of the ACE help prevent cheating these games. Security measures include countdown of the deck with no ability to add or remove cards, eliminating manual manipulation of the deck, and ensuring a random distribution of the cards. In the last few years there has been increasing cooperation among gaming regulators in North America.
Thus, a problem found in one area is quickly reported to other areas as well. At the same time, gaming equipment manufacturers also stand to benefit from improved security on their products. Incorporating and integrating new technological measures is an ongoing process, as new technology and better ideas are generated and incorporated into all gaming equipment.
There will always be something new as security has always been one of the cornerstones of our development process. In the s, even though corporate gaming had already been in existence for over a decade, there was still a very entrepreneurial and sometimes renegade character to casino companies, and the only venues with legal casinos in North America were Atlantic City, Las Vegas, other smaller cities and towns in Nevada, along with a number of primitive seasonal or charity casinos in various places in Canada.
During this time, the number of U. This was also a period that saw the emergence of an increasingly organised and effective opposition to the. Since , legislative authorisation of Nevada-style commercial casinos has ceased in the United States and Canada.
This shift has occurred in spite of the fact that the unintended adverse social impacts from these forms of gaming often turn out to be more controversial than those associated with full service casinos. Furthermore, in recent years, legislatures, parliaments, and voters have demonstrated increasing reluctance to authorise new casino jurisdictions, and in some cases have seriously considered rolling back previously authorised forms of casino-style gaming. Because of these, gaming companies increasingly adopt strategies to improve their profitability and performance through diversification into non-gaming product offerings, and by exploiting economies through consolidation, outsourcing, increasing customer loyalty, and other revenue enhancement and cost control maneouvers.
The dynamic for tribal casinos in the U. In reality, racinos have done relatively little to improve the fundamentals for racing, but have allowed some race tracks to become de facto casinos. Las Vegas marches to a different drummer than virtually any other gaming jurisdiction in the world.
With more than , hotel rooms and 37 million visitors a year, Las Vegas is the premier leisure destination in America, if not the world. However, the growth that has characterised Las Vegas since has increasingly reflected the diversification of its casino-based entertainment and service offerings rather than just the expansion of its gaming products. Unlike most other casinos anywhere else in the world, gaming revenues on the Strip do not dominate the financial performance of the resort casinos, and have been steadily declining in relative importance for more than the past two decades.
In light of these observations, what can be said of the current status of the casino industry in comparison to the rest of corporate America? As is the case with many other industries, the American casino industry can be divided into two distinct business dimensions.
There is the retail side of the business, involving ongoing casino operations in established markets, where the legal and regulatory environment is relatively stable, the competitive conditions are well established, and the attention of casino management is focused on increasing revenues, containing costs, and being good corporate citizens within their respective communities.
In such markets, the task of operating and managing casinos is not much different than running a supermarket or a department store. Market positioning is very important, as is presentation of the product, customer service, location, convenience of access especially parking , and events or promotions that are intended to bring customers through the front door. Operations are fundamentally the same day after day, and improvements in performance are likely to occur only incrementally, based on either the success of endeavours to enhance revenues by attracting new customers, retaining existing customers, or increasing spend per visit; or by reducing costs through finding less expensive ways of completing tasks and providing services.
The other dimension is the development side of the gaming business. For many casino companies in the s, and occasionally at present, this has been the most important division in the organisation. It is where the action is. In development, companies actively seek out economically valuable but currently unexploited opportunities, engaging in economic rent seeking in the hopes of capturing substantial rewards.
Companies often involve themselves in the political process by trying to influence legislation that would legalise or liberalise casinostyle gaming activities, hoping to create potentially profitable opportunities for themselves and—if they are really effective—simultaneously thwarting opportunities for their competitors. Such endeavours can be filled with political intrigue, and often resemble a high stakes poker game, where wagers are made in legislative committees and statewide campaigns, and sometimes in rigorous competition for winning the privileges of exclusivity as gaming purveyors in a particular jurisdiction.
Many industries participate in rent seeking behaviour, through their lobbying activities, public relations endeavours, political campaign contributions, and legal actions. In this manner, the gaming industry varies little from the rest of corporate America, except perhaps in the relative importance of economic rents as a portion of profit potential, and the explicit nature of the rewards if successful. For example, a gaming company that is lobbying for an exclusive franchise to offer casino gaming in a particular metropolitan area might be much less subtle than a pharmaceutical drug manufacturer lobbying to prohibit the re-importation of its products into the United States from Canada, where the company sells it drugs at lower prices.
However, the ability to capture or sustain excess profits is the primary motivator in both cases. What makes the gaming industry different from most other industrial sectors of the economy is that—because gambling remains both a popular commodity and a vice— legislative bodies are reluctant to authorise the expansion of gaming to a level that would fully satisfy consumer demand.
There is just too much concern that to do so would create greater adverse social impacts—or political backlash—than the benefits from such increased availability could offset. Thus, most gaming, including casino-style gaming products, are offered in a constrained supply or limited exclusivity context, exactly the conditions that create potential economic rents and encourage rent seeking behaviour.
Interestingly, in Nevada, where there are only limited constraints placed on the supply of permitted gaming activities such as zoning restrictions and minimum casino facility size requirements , there is far less rent seeking behaviour than one finds in other constrained supply or limited exclusivity states such as Illinois, Indiana, or Louisiana.
This is probably because much of the American gaming industry is already under substantial scrutiny via state regulation, with considerable attention paid by regulators to accounting for gross gaming revenues casino winnings. As such, they are going to be diligent in gathering complete and accurate accounting of their tax base. That said, the gaming industries are still subject to a disproportionate level of attention from legislatures who are seeking out new sources of tax revenues.
For much of the American population, gaming—along with tobacco and alcohol—is still perceived as a vice. As such, increased taxes not only raise revenues for public purposes; they also might discourage consumption which—in the minds of many— might be a good thing. This makes casino industries an attractive target in times of fiscal desperations.
This reality— which has played out in the states of Illinois and Michigan in recent years with dramatic tax increases—is another illustration of the important role of rent seeking behaviour among gaming companies. In light of these sometimes eccentric characteristics, what observations and recommendations can we make with regard to the skills required of present and future management in the gaming industry? Intuition guesswork has given way to systematic forecasting.
Subjective judgment in operational strategies has been replaced by models utilising data-driven optimisation strategies. Inconsistent practices involving customers and employees have been phased out in favour of standardised policies and practices. Crude metrics such as credit lines, hold percentage, and average daily room rates have been replaced by more focused measures such as player worth, win per square foot, net house advantage, and total yield per occupied room.
Strong gaming organisations are increasingly marketing driven rather than operations driven. More business school tools and training enhances the abilities of gaming executives to address those dimensions of the gaming business that are fundamentally similar to the broad spectrum of modern industry, as well as improve the more subtle skills of capturing and managing economic rents that are still an important component in many gaming industries worldwide.
At this point in time, the American casino industry is well on its way to the type of transition described above. Gaming executives and casino managers are increasingly equipped with business school credentials, MBAs, or law degrees.
The story is somewhat different in Europe in the early 21st century, however. They are highly taxed by their respective governments, and are relatively stagnant, both in growth opportunities and in their perception of the product they are offering. Their governments see them as a necessary evil, one which only makes contributions to the public purse, but does not do much else of social value. But one can see the winds of change that have already swept through the United States, Canada, Australia, New Zealand and South Africa beginning to come up in parts of Europe.
Gaming operators in Russia and the former Soviet bloc countries are experiencing much greater competition than their western European counterparts. Governments may eventually recognise that casinos, and especially destination casino resorts, can be important catalysts for change, and can be particularly complementary to other tourism assets in a region.
The lessons of Las Vegas are not going to go unheeded in Europe indefinitely. If and when these changes come to pass in Europe, then the importance of understanding the broader economic, political, legal and social environments in which casinos and the gaming industry operates—both in terms of internal operations and managing the external environment—will require a considerably better educated leadership than exists at present.
The next generation of European gaming executives will probably look a lot more like the current cohort of American executives than the current generation of Europeans. The competitive and strategic challenges of the European markets will make this a necessity. He is an internationally recognised authority on the legalisation and regulation of commercial gambling, and has written extensively on issues relating to the economic and social impacts of commercial gaming.
This intense international course, which runs for nine days each fall, has graduated more than executives, many of whom have gone on to substantial positions within their organisations or elsewhere in the gaming industry. Arguably, apart from the potential of the market in Macau, the land-based gambling industry in the United States is the most dynamic casino gaming market in the world.
Except, perhaps, for the gigantic business of remote gambling. Egaming is the fastest growing part of the global gaming industry. One example of this type of site is Intrade, a place where punters can place bets on anything from the outcome of elections to the level at which the Dow Jones will close on a given day.
There are also the poker web sites, the latest trend to emerge from the Internet gaming innovation machine. Why communities are important. Within these sites, which compare very closely to the model employed. But what is this community and why is it so important? According to Cynthia Typaldos, president and CEO of RealCommunities the leading community software developer , communities are plainly a bunch of people that gather together around a shared purpose or goal; in this case, winning.
Could it be that the community itself is what makes gambling so enjoyable for the millions of people that partake in this activity every year? Most likely. Why do people sit at the blackjack and poker tables for hours on end in Las Vegas, even if they have been losing? Perhaps because they believe they can win. Perhaps because they have nothing better to do. Or, perhaps it is the element of meeting someone new and random, conversing with them, and sharing a few moments of their life.
Although by no means scientific, from a consumer analysis standpoint, the community element of these sites exhibits the same characteristics of what makes Las Vegas so interesting: Anonymity, combined with the excitement of gambling. As Ms. Intense Competition. The Internet gambling industry is quite possibly one of the most — if not the most — competitive online businesses in existence today.
Market growth is slowing rapidly perhaps even more rapidly than our estimates might suggest , making competition for customers ever fiercer. This means operators must continue to innovate at an increasingly rapid pace to keep up with customer expectations. For all of these reasons, the Internet gaming industry has remained just that: on the web. Thus far, the traditional landbased casino gaming operators have not made a major effort to compete in this business.
That technology would include ways to prevent minors from betting and identify the location of a bettor, in order to comply with local laws. There are two elements to this equation. First, the U. Department of Justice and the U. Trade Representative maintain that Internet gambling, of all types, is illegal in the United States.
Second, through a very complex and thorough legal analysis of the WTO ruling by renowned gaming lawyer I. Nelson Rose, it has become clear that the ruling actually requires a very simple remedy: An amendment to the Interstate Horseracing Act to expressly allow international wagering. Both industries end up on top in that situation.
But the United States has other, grander schemes in mind. This could set a standard for the U. Particularly under the leadership of George W. Bush and this Justice Department, the United States will continue to be as protective as possible over its sovereignty — particularly as it pertains to its legal structure. And what does that mean? For the time being, and perhaps for the foreseeable future, there is likely to be little change in the regulatory structure as it applies to Internet gaming.
That means the industry will remain in regulatory limbo. And the United States government has no plans to change its tune. Even though the White House is pushing their agenda like their plans are a slam dunk, the Administration has major hurdles to pass. These hurdles include a tremendous amount of debate within the Republican Party, in addition to the vociferous objections by the Democrats to nearly every Republican agenda item. So, where does the gaming industry stand?
Save the Native American gaming business, our industry is relatively free of Federal regulation. The biggest issue for gaming companies, by and large, in , will be expansion opportunities beyond their organic growth potential. This includes states such as Pennsylvania, Maryland, and international markets like the. UK, Macau, Singapore and Mexico. The expansion of Indian Gaming will also remain an issue, particularly as competition heats up for a smaller amount of available contracts.
But into his third and fourth years, he will be increasingly focused on political seats in other states. It will become inevitably important for the President to turn toward building the Party once he is out of office. State issues will come to the fore at just this point in time. This is when the President has to campaign on behalf of many Republican governors, and therefore support their issues.
If gaming is on the ballot in any of those states, he will be endorsing the position of the particular candidate. So which of the states will be important? There are quite a few, as we all know. For Conservatives, even those that are fundamentally opposed to gaming, the extreme nature of the high cost of running a gaming business in that state is a sin. In Minnesota, if the gaming expansion proposals have not been passed and are still floating around, Governor Pawlenty will find himself in a very awkward position.
He outwardly stands in opposition to the Conservatives in the Administration by supporting price controls and reimportation of pharmaceuticals. While the President has not yet taken a formal stance on these proposals as they are state-level issues , it is doubtful his Administration would openly support either. So the President will be confronted with two very important issues — both at a state level — while also having to support his own candidate. It will be a difficult political situation.
These are just two examples of an opportunity for the Administration to confront the gaming industry on a seminational scale. The list of states where gaming is likely to be on the ballot in the next four years is endless. Nearly every state without gaming save a few will see one form of legislation or another by the time President Bush is out of office.
The real question will be not only how much of a priority the Administration assigns to these controversial topics, but also whether or not they support a member of their own party outwardly opposing official Administration policies on a large scale. In the meantime, investors and onlookers will watch these breaking news stories at the edge of their seat, as they always do. Very few industries are affected by legislation the way the gaming industry is, making it highly vulnerable to political decisions, which means it is affected not by business decisions, but oftentimes by philosophical and ideological decisions.
In the coming years, with such a decisive and outspoken Administration, we should all be watching how. Although Asia is a market with extraordinary potential in this space, Europe currently provides the most dynamic marketplace for both consumers and operators. However, the European market, including the UK, is the second largest market in the world these figures do not including e-gaming.
As far as e-gaming is concerned, the European region is offering more opportunities for operators to be innovative and competitive than any other continent. Regional and local governments are dedicating more time to studying the potential regulatory process than most other governments throughout the world. However, many of the regulations currently in place are meant to protect domestic operators from competition.
It is only by regulating operators rather than prohibiting them that the gaming public across Europe can be properly protected. First, this report comes from operators…many of whom would — of course — see this industry regulated and taxed rather than prohibited. Prohibition may or may not stifle growth — but in the gaming industry, regulation merely controls it.
This allows for a more regulated environment, and, most importantly, one that allows a fair chance for the savviest operator. Second, it is refreshing to see a document produced and released to the public — even if by operators — that clearly points out the benefits and facts about regulation versus prohibition.
The report is quite clear, and takes a fair view of the regulatory and legal environment in Europe and comes to this conclusion in a balanced manner. It is also clear, however, that in the interests of protecting their local businesses, some European Union member states are unwilling to adopt particular EU laws and regulations that relate to gaming.
This is perfectly legal. Unfortunately, this is also perfectly confusing for any business and operator. From the regulators, standpoint, we believe the European market has taken more steps toward harmonising e-gaming regulation than any other major economy in the world. Harmonising their legal structures from a gaming standpoint. The capital markets are finding the industry extremely profitable and extremely liquid, particularly in the UK, where the AIM sharemarket has created a new source of capital and growth for the e-gaming industry.
And the AIM has been particularly lucrative for companies in the gaming space. These companies, which would have an extremely difficult experience attempting to raise capital on the U. In fact, gaming companies represent the largest market capitalisation on the AIM of 49 sectors. Even more fascinating, however, is the fact that this market capitalisation was These are just a few examples of the most recent floats which add to the excitement the gaming market is generating in the UK. There are bound to be many more examples of this phenomenon in the next twelve to eighteen months as the capital markets mature and demand for this type of share offering gains steam.
The regulatory situation has greatly increased the risks of investing in this business. However, signs of hope exist — particularly with countries like the United Kingdom and their proactive effort to provide some regulatory stability to the industry.
As this trend continues, investors should reap the rewards, which will create additional momentum for operators. In this hyper competitive business, operators must continue to innovate at record pace, in order to continue to attract investment in the future. Given the relatively fragmented nature of the industry, innovation should continue, as should consolidation.
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Offences relating to common betting-houses and betting information centres 3. Advancing money for conducting business of common betting-house 4. Betting in a common betting-house 5. Penalty for unlawful announcement of information on horse-race, etc.
Money paid recoverable 7. Presumption against person accepting or receiving stakes, etc. Presumptions 9. Court to make order for demolition of structural contrivances for facilitating betting Search warrant against premises used as common betting-house Search warrant against persons in possession of betting instruments Arrest and search upon suspicion Magistrate or police officer may himself enter and search Evidence by police officer to be presumptive evidence In all proceedings under this Act any evidence given by a police officer that any book, account, document, telegram, writing, circular, card or other article produced before the court had been used or was intended to be used for betting or wagering, shall, until the contrary is proved, be deemed to be sufficient evidence of the fact.
Protection of informers from discovery Obstruction of police officers Examination of offenders Binding over on second conviction Jurisdiction of courts Stakes Nothing in this Act shall extend to any person receiving or holding any money or valuable thing by way of stakes or deposit to be paid to the winner of any race or lawful sport, game or exercise or to the owner of any horse engaged in a race.
Exemption Reward to informer The court may direct any fine or any portion of any fine imposed and levied under this Act to be paid to the informer. Singapore Statutes Online. All rights reserved. Last updated on 11 Feb An Act to suppress common betting-houses, betting in public places and bookmaking. Act not applicable to remote gambling.
Offences relating to common betting-houses and betting information centres. Advancing money for conducting business of common betting-house. Betting in a common betting-house. Money paid recoverable. Court to make order for demolition of structural contrivances for facilitating betting.
Search warrant against premises used as common betting-house. This forced the government to look into addressing online gambling — an even bigger market than physical gambling venues. During this time, the legislation began to encompass digital advertising, in which laws were loosened and venues began to be allowed to publicise their services. This had a huge impact on the online gambling industry, meaning that it became much more competitive and creative as a result.
Jacks or Better has been around for a very long time, but it was not a game that many people knew a great deal about. The Gambling Act of made online casinos more accessible,. Online casinos took it up on themselves to produce detailed guides to educate players so they could enjoy their product. Arguably the best guide is produced by Jerry Stich, who has been involved in casino gambling for nearly 30 years, he covers how to get started, the pay table and much, much more, making it the perfect place to learn how to play jacks or better.
From enforcing strict rules about having an account or membership that enabled private access to a gambling venue, to requesting proof of ID and personal details before anyone is allowed to play, the industry suddenly became more difficult to be a part of. Overall, whilst the Gambling Act of did bring about some major changes to the industry and caused a reasonable amount of disruption to the industry, it has also helped it to grow and become more opportunistic, as well as ensuring players are protected from the previous vulnerabilities of online gambling.
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