Prevailing State of Asian Casinos
Posted on September 15, 2008 - Filed Under Casino Articles, Casino games, Gambling News
Japanese people have a yearning for playing casinos. It has been found that the Pachislo and Pachinko machines yield above US $10 billion revenue per year. It has taken one step forward in legalizing their casinos.
The casinos in Singapore have set up a higher margin of profit for themselves in this prosperous tax regime. The scenario is however different in Macau where the casino operators have to make a payment of 35 per cent as taxes out of their gross revenue.
The tax rate for casinos in Singapore has been fixed at 23 per cent for the non-VIP players and 12 per cent for the VIPs. The profit margin for the Macau gaming operations has been estimated to be nearly 10 per cent.
On the other hand, the profit margin for Singapore gaming operations is somewhere near 40 per cent. This has been estimated during the 13th Annual Asian Casinos Executive Summit of 2008.
According to the president of the International Master of Gaming Law (US), Robert Stocker, the tax should be under 20 percent in case the casino operators are looking forward to give certain other facilities like retail, entertainment, and F&B.
As the government of China is being anticipated to restrict the development of casino in Macau, therefore several countries are trying to draw casino investors towards themselves.
It was way back in 1993 that the slot machines became legally accepted in Goa. Chairman and managing director of Advani Hotels and Resorts, Sunder Advani said that despite huge protests from anti gambling organizations, India has managed to open its only casino on the coast of Goa.
The state of Vietnam has a good casino scene for the locals with two casinos in the state. The entry of foreigners is however restricted to Vietnam casinos. David Subotic, chief executive of Asian Coast Development, Canada believes that the future is bright for casinos here.
The government of Cambodia, where 28 hotels already have casinos in them, is trying to set up for a greater facility. Foreign casino lovers only find an entry into the Cambodia casinos. However, the market there is not intemperately governed.
The reason behind it is that other than the Phnom Penh Naga Corp casino, there are also casinos on the border towns like Cam-Viet and Cam-Thai to manage the economy there.
Asian Coast Development, Canada has received a fund of about US$1.5 billion to set up a casino resort in Ho Tram Strip of Vietnam that will have 2,300 rooms. The casino lovers will have access to about 2,000 slot machines and 90 gaming tables.
