China is a great market for gambling – both for sports betting and for casinos. In fact, a lot of people have been using a pay per head service to try and capture that market for a long while now. But in the Philippines, the Cagayan Economic Zone Authority, or CEZA, is announcing a memorandum of understanding with Shanghai Jucheng Supply Management, or SJSM, a Chinese conglomerate.
The memorandum centers on plans for an integrated resort casino to be held in the Cagayan Special Economic Zone and Freeport. Reports say that the plans will be similar to how Jeju Island in South Korea was built in terms of the amenities they will offer. Cagayan is located in north Luzon, the largest island in the archipelago. The area is known for pristine white sand beaches, and other features that will go along nicely with resort casino developments. Cagayan is also a popular port, particularly with other South East Asian countries, China as well.
The year-on-year increase for income on inward direct investments for Macau gambling is at 34.5% for 2017. This means the inward direct investments for that year is at MOP37.9 billion, or around $4.7 billion. Macau’s Statistics and Census Service, or the DSEC, has released this information.
The total income for this particular special administrative region is MOP 58.6 billion, or $7.2 billion. Meanwhile, the gambling sector’s share on this amount is at 64.5%. On an international level, one can see from gambling industry news that a lot of investments and revenues on gambling are enjoying upward trends.
The legislature in Alabama has been busy this week as several bills have been moving through the floor.These bills have been addressing school safety, gambling, prisons and more in a race to get them thru before the end of the session.
According to the news, Rep. Allen Farley, of Jefferson and Shelby counties, introduced a bill last monthwhich would allow juvenile probation officers to share certain information with school personnel. This is in order to give schools more safety and to increase the rehabilitation services that will be given to a child.
On Thursday, the HB452 bill sawa second reading in the House. This time, the bill has excluded the information that can be shared with a school. The information excluded are mental health and medical records. It also provide immunity for sharing and receiving the information with the understanding that the shared records are confidential.
The numbers for the gambling industry’s contribution to the US Economy for 2017 has been released by the American Gaming Association. In terms of sales, the gambling industry has contributed $261.4 billion for 2017, which shows an increase of 9.5% compared to 2014.
The $261.4 billion also generated $40.8 billion in taxes – for all federal, state and local. It also includes $10.7 billion worth of gambling taxes. According to the report, “The $40.8 billion of tax revenues supported by the gaming [industry] represents an injection into public budgets that pays for a range of services including public safety, hospitals and schools. In fact, total tax revenues… generated by the gaming industry are enough to pay for the salaries of approximately 692,000 teachers”.