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Racing’s Brexit fear a non-runner

Peter Jackson, the chief executive of Flutter Entertainment has warned that barriers to the free movement of racehorses in Europe after the UK leaves the EU would hit 1,500 UK race fixtures. The specific concern arises from horses going back to Ireland after racing in the UK.  The UK authorities will have allowed free access but the EU may place requirements of entry regulation on horses coming from a non-EU country back into Ireland. The implication for betting operators is that this may lead to fewer runners in the UK, causing smaller race fields and consequently lower betting margins. Is this project fear for UK horse racing? Will Lambe, executive director of the British Horseracing Authority, was quoted in the Financial Times as saying that while the government had confirmed there would be no additional checks on thoroughbreds entering the [...]

August 21st, 2019|

HBLB: every penny counts

The Horserace Betting Levy Board has confirmed that Levy income for 2018/19 would be GB£ 78 million, a shortfall of GB£ 17 million on the previous year, based on the bookmakers’ provisional declarations. Now, however, the HBLB seems to be asking bookmakers just to check down behind the sofa and underneath the fruit machines to ensure they haven’t missed any pound coins. An August 2019 press release from the HBLB said it “continued to investigate the reasons for that fall as part of carrying out its formal end of year processes with bookmakers”. “More generally, following legal advice, the Board has recently asked all Levy-paying bookmakers for further information on certain bet types offered during the year”. 

August 21st, 2019|

No Stopping Las Vegas

There seems to be no stopping Las Vegas and its role as a world-leading entertainment and convention centre. By 2020 1,969 new hotel bedrooms will be added, bringing total capacity to 152,201, according to a March report from the Las Vegas Convention and Visitors Authority.  Las Vegas has more hotel rooms than any other city beating New York with 130,000 rooms and central London 103,067 rooms. One of Las Vegas’ advantages as a conference and exhibition city is that it has a monorail transport system linking all the key point along the strip, so the hotels are in reasonable travel time from each other.  Delegates can stay at one resort and quickly transfer to the conference venue at another location. There are 15 major projects underway at the moment, ranging from hotels to a new stadium. The new stadium will [...]

July 25th, 2019|

World’s top casinos: Galaxy is star performer

The Galaxy Macau has retained its title of the world’s leading casino (as measured by gaming revenues in US$), based on the latest research by Global Betting and Gaming Consultants (GBGC). When GBGC compiled the list of leading casinos four year ago (2015), Galaxy Macau was in top spot then also.  Not surprisingly, Macau’s casinos dominate the top 10 properties by revenues. The jurisdiction’s casinos hold nine of the top 10 positions, a clean sweep only interrupted by Marina Bay Sands (Singapore) in fifth place. The world’s top ten casinos have combined gaming revenues of US$ 23.1 billion and account for around 14% of all casino gaming revenues. Since the list was last compiled, Marina Bay Sands (Singapore) has moved up from ninth to fifth, whilst the Grand Lisboa (Macau) has dropped from second to sixth. Resorts World Sentosa (Singapore) [...]

July 23rd, 2019|

Casino upstarts eye Macau’s chips

With nine of the world’s top 10 casinos by revenues, it might seem strange to argue that Macau is facing more competition for its gamblers but GBGC’s research into the world’s leading casinos confirms that is indeed the case. Outside the top 10, there is a number of casinos in other Asian jurisdictions snapping at the heels of Macau’s casinos. Not least of these is NagaWorld (Cambodia) which is in 11th place and missed out on breaking into the top 10 by just US$ 50 million. Casinos from Cambodia, Malaysia, Australia, Singapore, South Korea and the Philippines hold many of the places from 11 – 25 in the list. NagaWorld, in particular, has benefitted from the difficulties that Macau has faced in recent years. There has been a definite redirection of junkets’ players from Macau to Cambodia and elsewhere. There [...]

July 23rd, 2019|

Betting shop closures: reality bites

The media was generally not favourable to the Government following the announcement (4 July 2019) that William Hill would close 700 shops with 4,500 job losses. Alistair Osborne in The Times asked ‘Do ministers care? Don’t bet on it’.  Osborne questioned ‘Shouldn’t the government step in, just like it has at British Steel? Since compulsory liquidation in May [2019] it’s been paying the wages of 5,000 workers, while helping to find a buyer’. Nick Ferrari on LBC picked up on the same point and said the stake limit reduction (from GB£ 100 to GB£ 2) went too far. The now-sacked Secretary of State at DDCMS Jeremy Wright MP was unsympathetic and stated "The gambling industry has had over a year to prepare for this change, including to mitigate job losses. We now expect them to provide the right support to [...]

July 22nd, 2019|