California Legislators Keep to Grapple with Gambling Options

California Legislators Keep to Grapple with Gambling Options

California lawmakers will mull several state bills that could affect both land and online gambling efforts this present year (Image: Michael Macor, The Chronicle)

A new California gambling bill approved week that is last the State Senate could up taxes and review regulatory procedures on the Golden State’s ever-expanding gaming industry. Introduced by Sen. Leland Yee (D-San Francisco), SB 601 goes under the microscope of the gaming policy advisory committee comprised of both industry executives and members of the public, aided by the goal of determining whether or not the current regulatory structures that are in place are aiding or abetting California’s current and future outlook that is economic.

Regulatory Review

Additionally, the panel will review the impact of their state’s numerous card groups on both state and tax that is local, also as on fees to both. Yee said he’s checking out the chance that more non-Indian video gaming outfits could help improve California’s ever-struggling coffers to be fuller.

‘Despite the news that is good’ve seen in budget projections, I think it’s always worth considering new revenue sources for our state,’ noted Yee. Once the committee review is complete, the bill that is new move on towards the state Assembly for further assessment.

Needless to say, as Newton so wisely noted, for every action there is a similar and reaction that is equal and nowhere does that hold truer than on Continue reading “California Legislators Keep to Grapple with Gambling Options”

Chinese Online Lottery 500.com Pays Off Well for Investors

Chinese Online Lottery 500.com Pays Off Well for Investors

Chinese online lottery 500.com has entered the ny Stock market, and appears to be winning (Image: Wan Li/China Daily)

Investors in Chinese lottery that is online 500.com Ltd. are off to a happy begin to the New Year; within the six weeks since its New York Stock market birth, the value for the company has almost tripled from the initial public providing price of $13.

Winning the Lottery Lottery

As the only lottery that is chinese become placed in the United States, 500.com is one of merely a handful of organizations set to enjoy the Chinese government’s whittling down of thousands of private lottery operators, as they permit and regulate the industry to just a little number of businesses. All of these will ultimately be vying for a market that is potential of 400 million lottery players in the country.

‘Over the next five years it is extremely clear that the market that is chinese continue steadily to develop rapidly and also the government regulatory regime will become more open and transparent,’ explained 500.com’s Chief officer that is financial Pan.

China’s lottery market has flourished remarkably in recent years, thanks to a rise in disposable income through the country, as well as a national appetite for gambling and advancements in gaming technology. As a result, China’s lottery spending reached $23 billion in 2012, while the U.S. the largest lottery market in the world ended up being still staunchly i Continue reading “Chinese Online Lottery 500.com Pays Off Well for Investors”