Asia “can comfortably absorb” the 30 new casinos that are slated to open between now and 2020, says a CLSA Ltd. report. The region is 
trending toward the bigger-is-better approach, as many of the new casinos are megaresorts that could easily stomp smaller operators. The growth potential could be greater still, but Cambodia, Vietnam and South Korea do not like for their own citizens to be gambling, and the Japan market seems as far from opening as ever, maybe farther, with enabling legislation unlikely to pass before 2017 at the earliest.
Unlike the U.S., “Asian countries also tend to limit gaming licences to just a few operators who are willing to build massive integrated resorts,” read the report. The $50 billion currently invested in Asian gaming growth will ramp up to $90 billion in five years. There are 17 projects set to go, six in Macao alone and a possible two or more in South Korea. While return on investment in Macao is projected to fall from 34% to 21%, that’s still better than you can make from a U.S. casino, generally speaking.
* Well, that was a heckuva short honeymoon. Plainridge Park Casino was down 8% as Massachusetts players either stayed home more or gravitated back to old casino habits. The Penn National Gaming racino generated over $15 million in revenue, down from July’s $18 million.
* Online poker gave Delaware racinos a boost last month, up 11% from July for a $31,248 gross. However, it’s a 19% drop from last year. The tracks are having to tough it out after a package of fee cuts and tax credits died in the Legislature earlier this summer.
* A Michigan tribe has won an important skirmish in what looks to be a long war to open a casino in Lansing. U.S. District Judge 
Robert Jonker dismissed a lawsuit by Michigan Attorney General Bill Schuette, who was trying to block the Sault Ste. Marie Band of Chippewa Indians from asking Uncle Sam to put land into trust for them in downtown Lansing. Mayor Virg Bernero sided with the tribe, saying, “Today’s ruling reaffirms that right and represents another significant step along the path to success, which will bring thousands of good-paying jobs to Lansing.”
While evaluating their next move, Schuette and Gov. Rick Snyder 
(right) shook a fist at the court. “We continue to believe that the tribe’s unprecedented efforts to open a casino located hundreds of miles from its reservation is a violation of our mutual Tribal-State Gaming Compact, establishes a dangerous precedent, and poses serious consequences for the state and other Indian tribes within Michigan,” sputtered a gubernatorial spokeswoman. Don’t be deceived by this court victory. The Chippewa casino is far from a sure thing. The tribe must …
- Actually get the land taken into trust by the Interior Department
- Fend off additional lawsuits from the state and
- Prevail in anticipated lawsuits from other Michigan tribes.
