Friday, February 23, 2024

Tag: Economy

The economy in 2021: the boom is coming

GBGC Hospitality Economy Boom Gambling demand
While a full recovery from the economic impact of the coronavirus pandemic will take time, Warwick Bartlett, director of Global Betting and Gaming Consultants, suggests there is significant pent-up demand for gambling, with casino resorts likely to be among the key beneficiaries as holiday-starved tourists begin travelling again.

Ghana earmarked for economic prosperity

Ghana, economy, africa, sub-saharan Africa
The Ghanaian vice president, Mahamadu Bauwmia has stated that the country is not only on course to achieve its aim of “Ghana Beyond Aid” but that the nation is fast becoming one of the more robust economies in sub-saharan Africa. The western nation has been making great strides towards financial independence since president Akufo-Addo came to power in early 2017,...

US economy: The states of play

US, sports betting, economy, aga, American Gaming Association
The US commercial casino market is in fine health according to the American Gaming Association’s annual economic report, with national revenues hitting $40bn for the first time in history. The American commercial casino market is booming. In 2017 the market welcomed record-breaking revenue figures, generated an all time high in gaming taxes and continued unabated on the upwards trajectory it...

Outcome of presidential elections could define Brazilian market opening

Outcome of presidential elections could define Brazilian
With the first round of the Braziliain presidential elections set to take place on 7 October, pro-gaming candidate Geraldo Alckmin will face off against Jair Bolsonaro, a congressman known for his anti-gaming stance. Latin America’s largest economy has lived through a turbulent decade since the 2008 financial crisis, with proponents for the legalisation of gaming contending that the industry could...

Extremadura passes new IR law but lacks investors

Extremadura has passed a new law allowing for the creation of integrated resorts, but the autonomous community now lacks investors after a major development project failed to pan out. The local government in Extremadura has passed a new bill which opens the door for the creation of integrated resorts in the autonomous community, but at present, the region lacks any...

Goa’s chief minister rules out establishing gaming regulator

SD visits New Dehli, India
While plans to establish a regulator for Goa’s casino industry were first announced six years ago, the state’s chief minister Manohar Parrikar stated that there were already “enough provisions to impose restrictions” on the gaming industry this July. More than a year after Goa’s Legislative Assembly announced plans to shift the state’s six offshore casinos to “a land-based designated entertainment...

South Africa resisting knee jerk reaction at GDP contraction

South Africa’s GDP saw its sharpest contraction in nine years in the first quarter of the year as the dizzying highs of the early-Ramaphosa era stabilised at a more considered level. After expanding 3.1 percent in the final quarter of last year, South Africa’s GDP shrank by 2.2 percent in the first three months of 2018. Despite such fluctuations the nation...

Nigeria is an untapped goldmine

Nigeria represents an untapped goldmine for visitor spend according to regional tourism experts and with the sector contributing more than one third of national GDP concentrated investment could provide huge dividends. Described by Lonely Planet as a pulsating powerhouse, and by regional experts as an economic cash cow, the West African nation is working diligently to ensure that this recent...

Smart City, Smart Economy: MGS Summit confirms agenda

ICR - MGS Summit Smart City Smart
This year’s MGS Summit, titled Smart City, Smart Economy, is set to examine how new innovations in gaming can provide impetus for Belt and Road journey.   The MGS Entertainment Show, which is backed jointly by the Macau SAR Government and the largest 150 gaming and entertainment companies in Asia, will challenge conventional thinking in the agenda for its annual summit...

Jay Chun: Making moves in Macau

Casino Review Jay Chun Senior Macau delegation heads to ICE with new technology brief Macau
Jay Chun, chairman of the MGEMA and the man behind Asia’s big hitters Paradise Entertainment and LT Game, has a clear vision for Macau. He’s been driving it for many years, be it through the development of pioneering, revolutionary products or through his multivarious businesses in the SAR. At the helm of the MGEMA, a trade body he envisioned,...

MGEMA: Keeping a focus on growth, diversity and opportunity

ICR - Macau Comment MGEMA
The Macau Gaming Equipment Machine Manufacturers Association represents a membership that arguably delivers the largest gaming revenues anywhere on the planet. Marking its fifth anniversary this summer, the association has made significant progress in its short life-span, but this year has seen a bolder direction on its agenda. With so much change on the Macau horizon, driven through both...

Malawi: “Casinos could be core component of emerging economy”

Casino Review Africa Malawi
Casinos could be another string to the bow of Malawi’s emerging tourist economy, especially as the country weathers a period of economic crisis.   Following the opening of the country’s latest casino last month, a Malawian official has proposed that gaming establishments can help boost country’s economy. Speaking at the official opening of Casino Marina in the capital Lilongwe, Elsie Tembo,...