Tag Archive | "east coast"

Online Casino: The Future of the Casino Industry

On Tuesday, a panel of online casino executives said that the future of casino is on internet gambling regardless if it is approved in the state or federal level. In addition, a lawmaker from New Jersey predicted that there may be a ballot question in 2012 to ask his constituents whether the state Constitution should be amended to make online casinos legal.

During the East Coast Gaming Congress, the executives of several online betting organizations said that the Internet gives the casino (and gambling industry in general) a chance to grow bigger. However, they also said the possibility of a federal law allowing it is still a long shot considering the federal raids on gambling sites conducted recently.

Jan Jones of the Caesars Entertainment said that we cannot stop the internet. The government may put protection and regulate it, but the Internet will continue to exist. The president of the Online Gaming Association in the U.S., Melanie Brenner, said that there are currently at least 10 million people who play poker online.

The members of the panel forecast an $80 billion annual revenue should online casino (gambling) is legalized.

Richard Bronson, U.S. Digital Gaming chairman, said that a federal law allowing online casinos is very unlikely. He, however, added that he is thinks individual states will soon begin allowing online gambling.

New Jersey was so close to becoming the first ever state to approve of online casino within its borders. However, Governor Chris Christie vetoed the bill and voiced concerns on its legality. The people of New Jersey said that if their legislators really want to legalize online casino, they should make a move on the amendment of the state Constitution first and let the people decide.

Jones said that if we let this opportunity pass, we are letting go of a huge potential for growth in the casino industry.

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Last-Minute Shopping Boost U.S Sales

More last-minute shoppers came to several U.S stores this year than last year’s final Saturday before Christmas. Also, shopper spending is expected to go even higher during the latter part of the week.

According to the research firm ShopperTrak, U.S sales went up on Saturday as many people continued shopping for gifts. Sales were up 15.1 percent from last year. However, this year also profited most than last year because of the blizzard that hit the East Coast.

But, many shoppers are still procrastinating with less than a week left before Christmas. About 23 million shoppers are still expected to be out on Christmas Eve according to a survey done by the International Council of Shopping Centers.

As Christmas nears, consumers have increased their shopping pace and purchases. Retail shops are also shaping up to get favorable holiday sales and December performances.

December 23 is considered to be the year’s second biggest day when it comes to shopping sales and the third biggest foot traffic, according to ShopperTrak founder Bill Martin. The foot traffic on Saturday was up 10.1 percent in comparison to last year’s record.

Almost three quarters of Americans are already done with their shopping on Saturday. Last week, only half of the Americans completed their Christmas shopping.

The Saturday shopping mooed increased the retailers’ sales for the whole. ICSC-Goldsman Sachs weekly chain store sales index showed an increase of 4.2 percent sales from the previous year.

Yet, ICSC found that spending will not yet end on Christmas. Many consumers are still planning to go shopping a day after that, and will be out the whole week between Christmas and New Year.

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