Asian casino business is suffering

According to the casino news the Asian casino business is in serious trouble with many casinos reporting a large reduction in profits of up to 50%. Casinos in Singapore and the Philippines seem to being particularly hard hit by the crack down on wealthy Chinese who have probably acquired their money either through illegal means or at least in a way as to avoid paying tax. Those customers were often spending large amounts as casino tourists in an attempt to launder the money but the Chinese Government is chasing them hard adding to the woes of the general downturn in the economy there. In Europe there is also some concern about land based casinos but that is of course due to the rise in popularity of online casinos. American casinos are also in the casino news but they are expanding in number as more and more States realise the potential income stream of a casino and as long as a true online casino remains illegal they will probably prosper. In the latest casinos news it even seems that the last bastion of peace and quiet favoured by US presidents could be invaded by a casino as the Aquinnah Wampanoag Indians claim the right to operate a casino on Martha’s Vineyard; a claim which is being hotly contested as properties on the island tend to go for a lot of money. Closer to home it would appear that the online casino business is not affecting as Wales as reports in the casino news suggest that a casino in Swansea, Wales which closed back in 2012 due to poor economic conditions might be reopening. The casino was run by Aspers who also have casinos in Stratford, London and in Milton Keynes where they are doing well. Aspers still retains a license for the Wind Street casino as well as the lease for the building.