Chinese Online Lottery 500.com Pays Off Well for Investors

Chinese Online Lottery 500.com Pays Off Well for Investors

Chinese on the web lottery 500.com has entered the ny Stock market, and is apparently winning (Image: Wan Li/China everyday)

Investors in Chinese online lottery platform 500.com Ltd. are off to a start that is happy the New 12 months; into the six days since its ny Stock market birth, the value regarding the company has almost tripled from its initial public offering cost of $13.

Winning the Lottery Lottery

As the only lottery that is chinese become listed in the United States, 500.com is one of merely a handful of businesses set to take advantage of the Chinese government’s whittling down of thousands of private lottery operators, as they license and regulate the industry to just a small number of firms. Most of these will ultimately be vying for a prospective market of over 400 million lottery players in the country.

‘Over the next five years it is very clear that the market that is chinese continue to grow rapidly therefore the government regulatory regime will become more open and transparent,’ explained 500.com’s chief economic officer Zhengming Pan.

China’s lottery market has taken off remarkably in recent years, many thanks to an increase in disposable earnings through the entire country, in addition to a appetite that is national gambling and advancements in gaming technology. Because of this, China’s lottery spending reached $23 billion in 2012, while the U.S. the lottery market that is largest in th Continue reading

Size Matters for Delaware Online Gambling Profits

Size Matters for Delaware Online Gambling Profits

Delaware’s under-a-million population base is not helping the state’s first few months of online gambling revenues

Regarding advocating for online gambling, there is one argument that sways states more than whatever else: income. After hearing regarding how much cash is potentially around, every person wants a little bit of the on line gambling revenue cake. However in the situation of Delaware, it seems as though the state will need to settle for a few crumbs.

Despite hopes that online gambling might help you struggling Delaware land casinos fend off competition from neighboring states, it turns out that the Internet games haven’t generated interest that is much far here. During the period of and December 2013, the sites raised just $253,000 far short of the goals that state and casino officials had set for Delaware’s online gambling projections november.

Few Accounts, Fewer Players

Being such a little state with a population of under one million, few expected Delaware to break the bank when it came for their online sites. But therefore far, only about 4,000 accounts have already been exposed on the casino’s internet sites. The liquidity issue is most apparent in terms of poker games: according to figures by PokerScout, the Delaware Poker site is only averaging about 20 players for real money cash games over the week that is past. Even at peak hours, the site hardly ever has more than 50 players part that is taking game Continue reading

Penn National Partners with Jamul Indian Village for California Casino

Penn National Partners with Jamul Indian Village for California Casino

Nestled in the hills of San Diego County, the Hollywood that is now under-construction Casino will be managed by regional operator Penn nationwide (Image: artist’s rendering)

Penn National Gaming is getting into the California market by having a new casino project in partnership with Jamul Indian Village, about 20 miles east of hillcrest. The $360 million development still requires the blessing associated with National Indian Gaming Commission for Penn to be approved as its management company, but that is mostly seen as a formality at this point, and construction is underway.

Penn National runs the chi-chi M Resort in the far south end for the Las vegas, nevada Strip; the very casino that is last in fact, before you head off to Southern California.

Native Compact Put to make use of

The new project will make use of the Native American tribe’s California gaming compact, held since 1999 to be called the Hollywood Casino Jamul. The construction that is new be three stories and a total of 200,000 square feet once completed. It’s expected to open towards the end of next year.

Penn National Chief Operating Officer Jay Snowden says the brand new casino will ‘bring to fruition [the Jamul’s] eyesight to revitalize their reservation and be self-sufficient, while simultaneously sharing gaming revenue with local governments and charities.’

Rising off of San Diego’s State Route 94, one concern had been traffic congesti Continue reading