Construction Underway on 3 New Casinos in New York State

Construction Underway on 3 New Casinos in New York State

Construction is underway on three new casinos in New York State, after the New York State Gaming Commission granted licenses for three lavish resort casinos across New York State in December 2015. The resorts are the Montreign Casino and Raceway,

Construction Underway on 3 New Casinos in New York State

Construction Underway on 3 New Casinos in New York State

Posted by: on Jun 17, 2016 | No Comments

Construction is underway on three new casinos in New York State, after the New York State Gaming Commission granted licenses for three lavish resort casinos across New York State in December 2015. The resorts are the Montreign Casino and Raceway,

Crony Capitalism is on a Decline

Crony Capitalism is on a Decline

Posted by: on Jun 10, 2016 | One Comment

Crony capitalism is on a decline, according to the Economist’s index of crony capitalism created in 2014. The Economist index shows that in 2016, Russia has the highest amount of crony capitalism; crony sector wealth constitutes 18% of Russia’s GDP, out of

Resorts World Las Vegas Moves One Step Closer to Reality

Resorts World Las Vegas Moves One Step Closer to Reality

Posted by: on Jun 3, 2016 | No Comments

Resorts World Las Vegas, to be built by the Malaysia-based Genting Group, came one step closer to reality when a three-member panel of the Nevada Gaming Control Board gave preliminary approval for a range of applications by the company, such as the

India Achieves its Highest Ever Score on the Index of Economic Freedom

India Achieves its Highest Ever Score on the Index of Economic Freedom

Posted by: on May 27, 2016 | One Comment

India achieved its highest ever score on the 2016 Index of Economic Freedom. India’s score of 56.2 gave it the 123rd rank among the 178 countries ranked by this index. India was ranked the 25th among the xx nations in the Asia Pacific region. The 123rd

Australia’s Casino Industry Continues its Expansion

Australia’s Casino Industry Continues its Expansion

Posted by: on May 20, 2016 | No Comments

Australia’s casino industry is anticipating continued strong business from Chinese and Indian tourists as it expands across the nation. The industry will be spending more than 15 billion Australian dollars (AUD) over the next decade to build new luxury

Donald Trump: American Dream Coming True?

Donald Trump: American Dream Coming True?

Posted by: on May 13, 2016 | No Comments

Donald Trump has been referring to the American Dream being over. And, of course, about how he would play an instrumental, as President, in reviving this dream. I wonder if Donald Trump actually understands the American Dream, and whether his policies are in synch

Macau Casino Revenues Down Less than Expected in April 2016

Macau Casino Revenues Down Less than Expected in April 2016

Posted by: on May 6, 2016 | No Comments

Macau casino revenues fell by 9.5% on a year-on-year basis in April 2016 to $2.2 billion, according to data from Macau’s Gaming Inspection and Coordination Bureau. This marks the twenty-third consecutive month of declines. Macau’s casinos have been

Daniel Kahneman: The Psychologist  who won a Nobel Prize for Economics

Daniel Kahneman: The Psychologist who won a Nobel Prize for Economics

Posted by: on Apr 21, 2016 | No Comments

Daniel Kahneman and his colleague Amos Tversky studied human behaviour when faced with uncertainty and risk, and came up with groundbreaking results; primarily, that human beings are not necessarily the rational agents of economic theory. Daniel Kahneman

Michigan’s Gun Lake Casino to Double its Size with a $76 Million Expansion

Michigan’s Gun Lake Casino to Double its Size with a $76 Million Expansion

Posted by: on Apr 14, 2016 | No Comments

The Gun Lake Casino in Wayland, Michigan has announced a $76 million expansion plan that is expected to nearly double its size. Ed Pigeon, vice chairman of the Gun Lake Tribal Gaming Authority Board said in a news release on January 7, 2016,

Moral Hazard and the Global Financial Crisis

Moral Hazard and the Global Financial Crisis

Posted by: on Apr 7, 2016 | No Comments

Competition produces efficient outcomes when certain conditions hold. One of these is that all the agents involved have all the information that they need. However, in the real world, one often observes asymmetric information; the existence of asymmetric