Hong Kong company invests in internet gambling
Regent, the Hong-Kong funds management company, has invested US$2 million in exchangebet.com to provide on-line betting. It's Isle of Man chairman Jim Mellon made the move following an earlier investment in cybermall shopping site bigsave.com, and will rely on the support of savvy local entrepeneur Jean-Yves Sireau.

New Zealand gambling hits $7 billion
New Zealanders lost NZ$1.2 billion gambling last year, with a turnover of $7.1 billion on casinos, the TAB, lotteries, gaming machines, housie/raffles, and a police estimate of $500 million on illicit gambling.
The gambling industry paid an estimated $256 million in duty and tax.
Gaming machines contributed the lion's share of Government revenue. There are currently more than 14,300 machines in pubs and clubs, just 11 years following Governmental approval. Overall, there is a gaming machines for every 233 New Zealanders.
Provisional data follows:

NZ$million Turnover Expenditure Prizes Taxes Charity

Casinos 2086 267 1819 31 1
TAB 1137 216 920 61 68
Lotteries 644 287 356 64 138
Machines 2663 324 2339 100 108
Raffles 65 65 Non-cash ** **
TOTAL 6595 1159 5434 256 316
Illegal* 500
TOTAL 7095
Courtesy: Dominion, Wellington NZ. * police estimate, ** not known.

The casino data for the fiscal ended June 30, 1999 only includes two casinos, Christchurch and Sky City.
Queenstown's Wharf casino opened in September 1999 with 6 tables and 75 machines. The NZ$14.5 million Dunedin Casino with 12 gaming tables and 170 machines, opened October 7. A second property at Queenstown is soon to open, and the Casino Control Authority has given approval for the Riverside casino at Hamilton.

Property Tables machines
Christchurch 40 430
Sky City 98 1320
Wharf 6 75
Dunedin 12 170
Queenstown* 12 70
Riverside* 20 300

* yet to open

Riverside complex receives approval
The New Zealand Casino Control Authority awarded a licence to Riverside casino in the second week of October, despite bitter opposition from the Hamilton City Council, church leaders and social groups.
Local companies Perry Developments Ltd, Tainui Development Ltd and Sky City Ltd will build an upmarket boutique property by the middle of 2001.
The casino, which will open 11am to 4pm on weekdays and 24 hours over the weekend, is part of a NZ $65 million apartment and restaurant complex that will commence construction in mid-December. The casino is expected to create more than 400 jobs and attract more than 112,000 foreign visitors to the city in its first year.

Airline gambling system banned in the US
U.S. airlines have been prohibited by the Federal Aviation Authority from using a controversial in-flight gambling system, amidst an investigation into a Swissair jet crash off Nova Scotia more than a year ago.
Although investigators are still to determine the cause of the crash, FAA decided to review the Interactive Inflight Technologies (IFT) system purchased by Swissair, and decided to ban any purchases by U.S. carriers. IFT has since changed its name to Global Technologies.

Change of ownership for Star City
Sydney's flagship casino will focus on the "grind" market as a result of its new ownership by Victorian racing and gaming operator, Tabcorp Holdings.
The Victoran gaming and wagering group seized control of the casino October 27, following it's A$1.8 billion takeover offer.
Mr Ross Wilson, Chief Executive of Tabcorp, unveiled his vision to lure back Sydneysiders via a modest revamp of its facilities and marketing push. His strategy is to make it more of an integral part of the Pyrmont and Darling Harbour entertainment precinct. This means less glitz, and additional facilities to eat and drink apart from the actual casino.
"Our vision is that the property is an exciting and fun place that reflects Sydney - and the people of Sydney," he said.
Plans to date include upgrading the bars and theatres to enhance the facility as a leisure and entertainment complex.
This may come as a bit of a surprise following its $24 million revenue from high rollers in the three months to September. The pleasing quarterly performance is a marked change from the first half of the year when international high rollers contributed only $430,000 in revenues.
No doubt the decision by Tabcorp it to play a safe move, as the premium play market is so unpredictable. Even the Chairman of Star City, Mr Dick Warburton, concedes that the market is particularly volatile, especially considering Sat City's start-up last December and the short period for testing its international marketing efforts.

On a roll
Star City posted A$161.4 million net revenue in the September quarter, an increase from $139.6 million posted for the corresponding period a year before. The current figure takes revenue to date to $434.7 million.
Win per gaming table per day increased from $4396 to $5435, and hotel occupancy levels rose an average of 9% to 74 %. Win per machine per day was $280.

First initiative
Recently, the casino became one of the first gaming operators in the world to erect problem gambling signs at each of its 1,500 slot machines.
"Is gambling for you," the sign questions.
"Call G-Line, a confidential, anonymous and free counseling service. Free call ...."
The casino's bottom line profits are not expected to be impacted as more addicts seek help with their problem, as it has been identified that they represent only a tiny percentage of the gamblig population.
"We are trying to do the right thing and encourage people to bet with their heads, not over it," said a star City spokesperson.
The casino's self-exclusion program can ban themselves by registering with details and a photograph, and agreeing to be liable for prosecution if caught gambling. To date, around 600 people have registered for the initiative.

Changing of hands
Star's new owners will operate the property as a stand-alone business, which includes servicing its $500million debt.
In addition to the merger of Star City and Tabcorp, the announcement was made that Star City Holdings CEO Mr Neil Gamble will resign. He will remain until the end of January to oversee the transition period, and then take a break before looking at new opportunities.
Mr Wilson has publicly expressed that there will be few operations changes to the casino, and was forced to accept his resignation.
Meanwhile, Star City is in the process of de-listing from the Australian Stock Exchange.

Casino party time aboard Asia's largest liner
Around 3,000 Hong Kong patrons recently celebrated 50 years of Communist rule with gambling, strippers and disco dancing on the SuperStar Leo liner.
The cruise ship's Maharajah Club casino and festivities was televised in Beijing marking National Day, according to the South China Morning Post.
The casino, complete with blackjack, baccarat, tableau, poker, sic bo, and pai gow, is operational around the clock apart from the short time departing and returning to Hong Kong territorial waters.

A recent Reuters news report following Malaysia's 2000 budget objectively stated proposed changes to taxes and duties on salaries, imports, and incentives to promote the technology, tourism and banking system. Included was one item "No increase in sin taxes or duties on brewery, gaming, pool betting or tobacco."

Burma cracks down on gamblers
More than 20 Thai gamblers were detained at Burma's Koh Son after being held at the Andaman Club casino for two days. Thais must legally cross the border closure to Burma. Then they are faced with the risk of visiting a licensed property.
A number of small illegal Burmese casinos are also in operation, although there was a recent closure in Tahilek opposite Mae Sai district.

D-day to buy Adelaide Casino
Expressions of interest to purchase South Australia's Adelaide Casino have been forward to targeted parties, with indicative bids due just before Christmas. The SA Government's Funds Superannuation Manager, Funds SA, will choose a preferred bidder by March. The final sale date, subject to probity assessment, is expected to be in the second half of next year.
The property has 80 gaming tables and 700 machines, and is targeted at the local market.
An Australian analyst told InterGaming that the casino, with EBITDA of A$21.2 million for 1998-199, should fetch around A$200 million.

AUSTRALIAN CASINO MANAGEMENT CHANGES

Burswood Casino CEO to resign
Mr Ed Posey, Australia's longest standing casino CEO, has announced his resignation. He has guided Western Australia's Burswood Resort since its opening in 1985, and intends to return to the US, where he worked for the Harrah's group for 25 years before he was recruited to Australia. He will remain as chief executive until a suitable replacement is found.

Crown Casino's Chief Executive, Mr Rob Riley, who resigned after nine months in the top job, gained A$8 million through his base salary, termination payout and options. His departure in July followed Mr Kerry Packer's $1.8 billion takeover bid through his company, Publishing and Broadcasting Limited.

Macau tycoon turns to the Philippines
Stanley Ho has taken over as Chairman of Filipino BW Resources, a small publicly listed property group that plans to make its mark on the gaming industry.
The company is experienced in hotel development and social housing, with the majority owner, Mr Dante Tan, holding the franchise to operate televised bingo games in the Philippines.
The aim of the investment is to develop the tourism, gaming, recreation and leisure facilities in the Philippines.
President Estrada hailed the investment in the country through BW Resources as a sign of faith and confidence in his administration.
The company plans to invest in casino-hotel properties, a jet foil service, social housing and greyhound racing. One of his projects will be at Manila Bay, where a floating restaurant on a ship with a capacity of 2,000 customers will be moored with its maiden cruise before 2000. If permitted, one floor will be used for a casino.
Mr Ho is General Manager and leading shareholder of STDM, well known for its nine casino monopoly investments in the Portguese enclave over the past 30 years, which earn $500 million in annual profit on revenues of $2 billion. Its subsidiaries run other Macau betting businesses, including greyhound and horse races and a string of lotteries.