Hong Bao

What is Hong Bao?

The Belmont Stakes, which was staged at Saratoga during construction, will return to its traditional Long Island home in 2027. Belmont will also host the Breeders’ Cup World Championships in October 2027, bringing the event back to New York for the first time since 2005.

Belmont represents NYRA’s vision of a new operating model for racing in the state—a smaller, modernized venue capable of absorbing the entire downstate racing calendar. And with almost $14 million wagered on its opening card, it’s off to a flying start.

The post Belmont Park Rebuild: New $455M Track Reopens With $14M Betting Handle appeared first on Casino.org.

About Hong Bao

Japan has drawn on Singapore’s IR development model, which embodies a balancing act between ambitious economic visions and restrictive conditions. But Andrew Klebanow, principal of Klebanow Consulting, believes Japan’s IR regulations swerved “too far into crafting regulations and policies”. Klebanow specialises in hotel-casino market feasibility studies, strategic planning and facility planning recommendations.

“As the RFP process played out, regulators introduced additional policies and regulations. As each regulation was introduced, developers adjusted their gaming forecasting models downward. Finally, those models reached a tipping point where potential revenues were insufficient to justify a project’s capital costs,” says Klebanow.

Japan’s attempt to reap the economic benefits of casino gaming while keeping gambling socially contained is comparable to Asia’s dominant casino hubs Singapore and Macau.

About Hong Bao

“There are valid arguments to be made in relation to raising the barriers to licensing, but this may come at a cost of diminishing competition and entrepreneurship,” he says.

In any event, successive regulatory tightening and tax increases have already created a “reasonably effective deterrent” to market entry.

There is a second complication. The relentless flow of Commission statements may eventually make enforcement less damaging rather than more.