Las Vegas Sands Corp. CEO, Sheldon Adelson, reaffirmed his company's commitment to the $5.4B Marina Bay Sands Resort set to open up in Singapore later this year. The Marina Bay Sands features three 50 story buildings that will be connected by a sky terrace on the roof that will offer incredible views of the Singapore financial district.
Congressman Barney Frank (D-MA) has announced plans to challenge the UIGEA soon, and with pressures mounting from a huge deficit, it may be hard for congress to continue to ignore an estimated $50 Billion revenue stream over the next 10 years. Check out the PricewaterhouseCoopers Online Gambling Tax Report (.pdf) for a more detailed analysis.
New Jersey recently forced Atlantic City casinos to begin reporting their comps monthly instead of quarterly. Filings from January 2009 indicate a 3.2% drop in promotional spending as volume drops and some casinos become tighter with their comps. Borgata, Atlantic City's top grossing Casino of 2009 increased its spending by 16%. Future filings to monitor trends can be found at the New Jersey Casino Control Commission website
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Posted by Jacob on 02/27 at 03:47 PM
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