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Executives at Aquis Entertainment plan to purchase over 650 poker machines from clubs across Canberra. 500 will be used on the casino floor while the remainder will be forfeited, as required by ACT’s pokie trading laws. This is a major stipulation for the refurbishment of the casino, and the project may not move forward if the government does not grant Aquis to have pokies.
David Walsh’s proposal is not your average casino. It will be open only to high roller tourists, and will not have any pokies or electronic gaming machines. There will only be a dozen table games at the venue, appealing only to very wealthy visitors from around the world. Walsh has proposed that the venue is called ‘Monaco’.
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Australian casino operator Crown Resorts could be in trouble yet again after a video was played to legislators where three former Crown Resorts employees allege that the Melbourne Crown Casino deliberately manipulated its pokie machines and breached state gaming regulations to manipulate gamblers.
Or a 5.3% edge for the casino. The expected value is actually slightly better than this; we rounded a bit there, and the house edge for the casino in American roulette is actually closer to 5.26%. Once again, this is exactly equivalent to 2/38 — the number of zeros divided by the total number of pockets on the wheel. This is almost double the house edge as European roulette. From the player’s perspective, this means that while both games have a negative expected value, the EV in European roulette is still much better than the American version.
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The implementation of limits on poker machines across the country is a welcome and sensible introduction, but it has nevertheless caused something of a stir within the all powerful Australian gambling industry. In addition to introduction limits on player spending, the government has also introduced caps on the number of pokies and electronic gaming machines that are allowed to be hosted in a particular geographical region or gaming venue. At first, the effectiveness of the caps was questioned, as operators were unsure that fewer poker machines would reduce rates of problem gambling, but a recent research report addresses this issue: ‘Study of the Impact of Caps on Electronic Gaming Machines’.
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The company has made headlines around the world several times when they have paid out early, only to lose. The most notable of these was when Fred Done paid out on Manchester United winning the 1998 Premier League title only for Arsenal to pip them.
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The tower will offer one and two-bedroom apartments and naturally, they will be fairly expensive. One-bedroom apartments are starting from AU$467 000, while the two-bedroom units will start at AU$668 500. Star Casino Gold Coast will have close to 1400 hotel rooms and apartments with the completion of the project.