Countries around the world are eager to reap the benefits of legalized casino gambling, and Israel has joined the rush. The Israeli Tourism Ministry has brokered a deal with the Israel Land Administration to set aside twelve acres on the north shore of the Red Sea as a site for casino construction.
Tourism Minister Yitzhak Aharanovitch indicated the casino would only be the first of several casino and legal gambling projects for Israel. The minister stated that among many reasons to establish casino gambling in Israel is the desire to reduce illegal gambling.
Aharanovitch said, “As a former law enforcement official, I can tell those who oppose the idea that a casino would downsize the extent of the illegal gambling operations in Israel as well as the related criminal activities.”
Illegal gambling in Israel amounts to more than $3.6 billion a year.
Eilat, the southernmost city in Israel, was chosen as the first casino site because tourism in the area has been negatively affected by casinos located nearby in neighboring countries. The Red Sea area is seen as perfect for hotels, trading, and retail centers, and is envisioned as a vacation spot.
The city’s beaches and desert scenery, combined with a dry climate whose temperatures are moderated by tropical sea breezes give Eilat a natural advantage which will only be emphasized by casino expansion.
Sociedade de Jogos de Macau Going Public By Casino Giant Stanley Ho
Stanley Ho over the years has been very successful in his marketing. His latest efforts are to go public with a company that he controls, Sociedade de Jogos de Macau.
The goal for Ho is to raise $1 billion for the company. He will try to accomplish that goal by offering 1.25 billion shares of SJM to the public.
The general public will only be able to get their hands on ten percent of the shares that will be available. Ho s offering eighty five percent to institutional investors, five percent to employees, and the ten to the general public.
The new shares will account for twenty five percent of its enlarged share capital. Hong Kong was the place where Ho has started letting people know about the shares that will soon be available.