Tag Archives: project

Online casinos financial report Vs land based casinos (Page 1 of 2)

In this article I will analyze these two industries, trends, regulations, profits and overall status.

It is clear that there is a battle going on between the online casinos to land based casinos. I took for example one of the biggest and strongest land based casinos – MGM ( $7.7 B) and one of the successful online casino company-888 Holdings ($1 B).

These companies are good examples since they are leaders and reflect the industry very well.

The war started a long time ago but I think it escalated in 2006 with the coalition of anti-gambling conservatives, together with Las Vegas interests and law enforcement which forced the government to ban online gambling.

Analysts estimated, at that time, that the amazing success of online casinos was over. Traded online casinos went down and everybody thought they were finished but it turned out to be the biggest mistake ever. Since then, land based casinos have been losing their power to online casinos.

Countries all over the world have realized that it is better to regulate online casinos rather than ban them because people will always find ways to gamble and to play the casino and banning them loses millions in taxes.

Take for example MGM

MGM together with Dubai world fund (which is a government investment fund. Its assets under management are excess of $100 billion and the revenue was $10.6 billion to in 2006) are short of funding in their $3.5 billion ( still pending) project “CityCenter” in Las Vegas due to the reluctance of the banks to give such a big loan to the project. German Deutchebank and Suiss Credit are among those banks.

The raising of finance for e $3.5.billion projects should have been completed

by end of June 2008. The cost of the project is $100 million a month.

“At present, no company in America has been able to borrow such sums from the banks” said James Maren, President of MGM Mirage in an interview with Bloomberg TV.

Just look at the trading charts of MGM. Earnings per share went down nearly 50 for the last year due to a decrease in players and a decrease in earnings.

There are several reasons for this:

First, the economy is in bad shape, gas prices are constantly rising, inflation is rising and US debt is more than $9.4 trillion and rising $1 billion a month. The stock market is also not doing well.

Second, it has become very expensive for Americans to travel to Vegas. When you pay more than $4 a gallon, you don’t drive and you don’t fly, simply because you rather save this money then spend it on traveling.

Third, online casinos are on the rise and taking a lot of players from them. With fast internet connections, smart and sophisticated online casinos and huge numbers of casinos guides, you have everything you need you need to optimize your bet.

888 HOLDINGS

888.com is one of the successful online casino operators on the web. It trades on the London Stock Exchange; market value is about $1 billiard.

Keystroke Lotteries: A Speculative Essay Part III

Postscript

“Keystroke Lotteries: A Speculative Essay” stems from an idea I got around Christmas 2003, watching a sales-rep hand out lottery-tickets as gifts in the office where I was employed as a proofreader. I wondered how much, if any, additional work I might do to get an additional ticket. In the years that followed I would occasionally Google as many likely keywords and phrases as I could think of, to see if anyone had already discussed or even implemented a program based on the idea of working online for lottery tickets. As far as I can tell, no one had and no one has still. Finally, in October 2008, I submitted the essential idea to Google’s misbegotten Project 10 ^ 100, condensed to fit its online template (see below). After the Project ended bathetically (or perhaps pathetically), I expanded the core idea and put it on Google’s Knol website, where it supposedly generated 8,000 or so hits. (It actually generated two or three comments). But Knol, like the Project, was a turkey that never flew. It’s shutting down in May of 2012 and has invited its authors to move to WordPress (where you can find this essay posted on my blog of sorts, http://keystrokelotteries.wordpress.com/).

Project 10 ^ 100 version
Title: Auction-funded work lotteries.

150 characters: Growing internet ubiquity may eventually encourage virtual groups of people to work simultaneously on demand for lottery tickets.

300 words: Describe idea in more depth. Hiring a large and ever-changing staff of typesetters to work on the same document would obviate proofreading because it’s unlikely that any one person’s errors would be duplicated by the majority. Instead they would be overwritten by others as a computer assembled a matrix of consensus-validated keystrokes. But paying so many typesetters a market-rate wage wouldn’t be economical. Instead, consider a lottery ticket. However small its payout or winning chances, it can’t be completely valueless before its drawing, given a practical way to obtain one for the least amount of value or work. On a computer, the smallest unit of work is a keystroke or mouse click. So the solution may be to link an essentially random group-validated keystroke to an online lottery-ticket. This method could initially function for any kind of online work requiring little or no interpretation by typists. In time it might successfully be applied to less restrictive kinds of work.

To attract the maximum number of participants, it probably would be essential that a single group-validated keystroke could win the drawing. The lottery itself would be funded by those needing the work done, by bidding on a place in a queue, or for a specific period of work, and/or total number of ‘players’ (workers). Such lotteries could be very large, but given the small unit of work needed to win, some people might not disdain a smaller payoff with a larger winning chance, contrary to conventional lottery-design and player psychology.

150 words: Problem or issue addressed. Around the world people have computers and access to the internet. Some have work to do, and others have bits and pieces of time in which to do it. The problem is how to harvest that time and make use of it on demand. The kind of work to be done requires compensation, but using this proposed model it can’t be priced and allocated conventionally. The solution may be to make an irrational form of compensation accessible to enough people. The internet could do that.

150 words: Who would benefit the most. Successfully implemented, we could have an economically productive and socially benign lottery and all that that entails. Even while using gambling as a lure, it would freely educate participants in its long-term futility. Most would never win a significant payout, even as they hourly watch a news ticker across their computer screens announcing individuals around the world who have. So why pay cash for a Lotto ticket? Although Gamblers Anonymous might go out of business, the virtual pool of labor would never diminish.

Get it started: 150 words. It’s probably inevitable that this kind of development will occur on the internet, if it hasn’t already. Google could test its underlying technical feasibility and scalability, but given how initially destabilizing such lotteries could be, considerable political pressure would be required to convince legislatures and tax authorities to go along. Probably the best way to get it started is to test it, and if successful enough at a small scale, talk about it, and so initiate change from below.

Optimal outcome: 150 words. The optimal outcome for this idea would be its eventual legal acceptance and growth to the point of competing with unskilled forms of gambling, as anyone with internet access, anywhere in the world, keyboards for a few seconds or minutes with an ever-changing number of people on a virtually infinite number of projects.