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Macau Tourism Stats & Tax Updates
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The number of guests in Macau’s hotel and guesthouses declined while visitors on package tours rose in April.
The number fell 2.2 percent to 1.143 million visitors though average occupancy rose to 91.4 percent.
Guests from Mainland China declined 2.8 percent to 774,000 while guests from Hong Kong increased 1.3 percent to 137,000.
Package tour visitors increased 20.2 percent to 908,000 people.
Tour visitors from Mainland China rose by 22.1 percent to 724,000.
NORTON NOTES: OH Needs Betting Parlors Too
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By Steve Norton
CEO, Norton Management
Where Will Sports Gambling in Ohio Take Place?
My comment:
Restricting sports betting, just to casinos and racetracks, will be a big plus for these gaming establishments, but will not produce the expected new tax revenue or eliminate Ohio residents’ use of Illegal overseas sites or bookies.
The convenience of betting on smartphones and computers, available at home and work, will produce the most play, but it becomes a real problem for those with compulsive tendencies and adds the risk of minors, using a parent’s credit card or bank info, to bet illegally.
NORTON NOTES: TN Guv, Casinos Aren’t That Bad
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By Steve Norton
CEO, Norton Management
Tennessee Governor: Casinos “The Most Harmful Form of Gambling”
My comment:
Governor Lee is certainly not alone in his opposition to casino gaming, but I take exception to his comment that "casinos are the worst form of gambling … which prey on poverty and encourage criminal activity".
I believe Tennessee has a state lottery, which is like many other states, has the highest per-capita spending in the lowest income neighborhoods. Even though state lotteries provide important taxes, generally in support of education, the percentage of bets kept at a lottery is much worse than casino games - usually in the 25 to 40% percent range.
NORTON NOTES: No Sense in Selling Boston Encore
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By Steve Norton
CEO, Norton Management
Why Would Wynn Resorts Consider Selling Encore Boston Harbor?
My comment:
This article questions why Wynn Resorts would consider selling its Boston Encore casino resort just weeks before its opening. The one economic question in the article centered around the lower financial performance of the MGM Springfield which will probably generate casino revenues of around $250 to $300 million annually, unless the Connecticut tribes are successful in developing a smaller casino in East Windsor.