Daily Archives: June 22, 2022

The concept of the Metaverse still might seem like it came straight out of science fiction, But, the exciting new era in the tech world is now officially a reality.

As a refresher, the Metaverse is an interconnected virtual space that merges the virtual versions of elements of the physical world and the physically persistent virtual world. Within the alternate digital reality, people can play, work, socialize, and even create an entirely new system of economy.

The possibilities with the metaverse are endlessusers can go on a date, travel to another country, play video games, and now even make new friends by attending a party. The dawn of the new technology has created an abundance of unforeseen opportunities across an array of different industries that benefit from blockchains increased security and transparency.

But despite metaverse technology taking off, there have still been limitations to the technology, including storage capability, the inability to create a fully immersive experience, and physical limitations like bulky virtual reality headsets.

Newcomer to Web 3.0, Planet Maya powered by Champion Games, plans on changing these limitations through its state-of-the-art platform that boasts the worlds first collaborative open-source virtual reality casino.

Through its economy and community of game developers, odds-makers, and players, Planet Mayas platform aims to change the perception of online skill-based gaming. This is by building global play-to-earn experiences that converge sports, technology, and entertainment.

The company aims to not only solve the common pain points discussed above but also take betting back to what it used to be, fun interaction between peers. It aspires toward a world where players are playing for the love of the sport, and not being taken advantage of by finance.

At the end of the day, we strive to foster a healthy yet competitive environment for those who love sports and gaming and place the financial power back in the hands of the players by creating an economy where players and platforms are equal, the company states in its whitepaper.

Digital money-making games are already an incredibly profitable industry. But, by merging metaverse technology with skill-based gaming, metaverse casinos have the keys to bringing more regulation and transparency to the online betting world.

So how exactly does it work? The platforms sustainable software ecosystem leverages the technology of smart contracts which control both the incoming revenue from customers and rewards allocated to the makers and miners.

Its token mechanism helps developers tap into this new source of revenue by generating the smart contracts needed for a new game. These smart contracts can then be deployed to a public blockchain and upgraded with new logic to reflect the latest odds through the odds-making mechanism.

In a nutshell, users spend tokens ($MAYA) in their wallet to get access and wager on a game. A smart contract, acting as the billing agent for the game, allocates a portion of these tokens to the creators of the open-sourced code or the provided services.

Users who spend tokens gain access to wagering on a game. A smart contract, acting as the billing agent for the game, allocates a portion of these tokens (rake) to the creators of the open-sourced code or the provided services.

How exactly can this help give the power back to the end-user? When every user is a paying customer, the relationship between the user and the team behind the game is leveled. Users can now wager on a game using crypto knowing that the teams behind the scenes will be incentivized to keep this revenue flowing by providing new features, upgrades, and player support. To find out about Planet Mayas exciting new platform, check out its website today.

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Why this Metaverse Casino is Poised to be Web 3.0's Next Big Thing? - CoinQuora - Live Crypto News

Shares of casino companies have plummeted even as inflation has soared at rates not seen in four decades and fears of a recession rattle consumers and investors alike.

Caesars Entertainment stock has plummeted 50% so far this quarter. Bally's has dropped 40% over the same time period, and Penn National Gaming and MGM Resorts shares have declined 35%. To compare, the S&P 500, which recently entered a bear market, is down nearly 19% this quarter.

Yet, the nation's commercial casinos just had their best April ever, according to the American Gaming Association. The industry posted $4.99 billion in revenue, up 12.4% year over year. It's the second-highest grossing month ever, following March of this year.

On earnings calls in April and May, casino executives collectively denied seeing any slowdown in customer spending, in spite of soaring gas, housing and food costs, except in the very lowest demographic of customer.

In a note published this week, Jefferies gaming analyst David Katz wrote that meetings with management teams in Las Vegas provided "evidence of the dichotomy between the current operating strength and the markets' expectation of a recession."

Danny Owens of Sacramento, Calif. plays a slot machine in downtown Las Vegas, Nevada, June 4, 2020.

Steve Marcus | Reuters

Katz wrote that MGM, Caesars, Wynn Resorts, Boyd Gaming, Golden Entertainment, and Red Rock Resorts, which owns Stations casinos, say business levels continue to be "very strong" in the second and third quarter, with demand pricing and volume levels above 2019 and strong bookings into 2023, as conference business and international travel rebound in Las Vegas.

But Derek Stevens, owner of three downtown Las Vegas properties, including Circa, is telling a different story. In April, he told CNBC he was beginning to see the impact from inflation based on the amount of cash being withdrawn from casino ATMs.

There has been no letup since then, he told CNBC this week.

"It's just really accelerated," Stevens said. "Every weekend has been worse than the prior weekend."

He described it as a downward spiral: Bars have suffered the biggest percentage decline, and gaming has seen the biggest impact as slots and table games have experienced a slowdown.

And yet, Stevens said, demand for travel is still there: Reservations at his Las Vegas hotels are holding steady, without any room discounts. Hotel guests are limiting their spending elsewhere, he added, noting that customers are spending less on restaurants and extra amenities at the pool and other discretionary items.

"If you're on the West Coast, you might have felt it a little bit quicker because gas prices," Stevens said, referring to California's super-high fuel costs. "You can immediately see it in discretionary consumer spending."

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Casino stocks are taking a hit as consumers struggle with inflation and recession fears - CNBC

Issued on: 22/06/2022 - 09:00

Colombo (AFP) Sri Lankan casino magnate Dhammika Perera entered parliament on Wednesday with a mandate to revive the bankrupt island nation's wrecked economy -- working alongside a premier who once accused him of corruption.

The 54-year-old Perera is a long-time loyalist of the powerful Rajapaksa clan, whom protesters have accused of mismanaging the country into its current predicament.

He replaces President Gotabaya Rajapaksa's youngest brother, Basil, who resigned from parliament this month after stepping down as finance minister in April.

"He was nominated by the president and will shortly take over the investment promotion portfolio and enter the cabinet," a ruling party official told AFP.

Perera will serve in a unity government formed to tackle the crisis alongside Prime Minister Ranil Wickremesinghe, who in 2015 accused the casino boss of being a "demon who protected the corrupt regime of Rajapaksas".

Wickremesinghe has also described Perera as one of four most corrupt businessmen in the country.

Both men shook hands on Wednesday soon after Perera was sworn into parliament before the chamber's speaker.

Perera -- who also has interests in banking, hotels, manufacturing, logistics and exports -- takes office at a time when Sri Lanka is suffering through months-long shortages of food, fuel and other essential goods.

Long queues form outside gas stations each day for scarce petrol supplies, while regular blackouts and runaway inflation have made life difficult for the island nation's 22 million people.

The government has defaulted on its $51 billion foreign debt and is seeking an International Monetary Fund bailout.

Perera has claimed to have devised a plan to raise Sri Lanka's per capita income more than threefold to $12,000 -- a figure higher than China's.

He has also pledged to address Sri Lanka's critical foreign currency shortage by selling 10-year visas to foreigners willing to deposit at least $100,000 in local bank accounts -- a scheme already in place since April.

2022 AFP

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Sri Lanka bets on casino magnate to revive wrecked economy - RFI English

Many beginners in the field of gambling are often interested in how to choose a reliable casino and start playing in it. This article was created to help players who want to maximize their joy and income from the gambling game. So if you feel lost along your gambling journey and are looking for a way to get the max out of online gambling, we have something great to share with you.

Of course, you can always Sign Up To Zodiac Casino Now and get a top-notch gambling experience. But there are always alternatives. Read this step-by-step guide to the best registration process and other important aspects when joining an online casino.

Click on the homepage and select your preferred software. Some casinos only allow certain software. Thus, players may check whether their site loads fast and if the software they want is allowed to us.

Look for any special offers such as bonuses or promotions. There are a few things to consider when choosing the bonuses you want to accept at a casino. First, look for those bonuses that really bring you money. Free play bonuses are simply added to your account balance. It is very easy to score a large number of free games. A bonus that is not tied to any money is simply a bonus in your account. Many casinos offer point bonuses. These bonuses are good because the points can be converted into money. There are many casinos that offer point bonuses.

Once you have found a suitable offer, you can register at the casino you have found. If you wish to accept this offer, all you have to do is use your billing information to complete the registration process. Many casinos have a verification process in which players are asked to verify certain details about themselves. For example, you may be asked to provide a scan of your drivers license. In some cases, you are asked to provide an address.

The process may also require you to upload a photo of yourself, and many casinos may even require you to provide proof that you are 21 years old. All these things can be done in several ways. For example, you can take a photo of your drivers license with a webcam. You can ask the casino owner to call a friend and ask them to verify your age. The list goes on and on, but well leave it up to you to decide how best to go about it. If you are unsure about this process, simply ask the host you are dealing with to explain how to verify that you are 21 years of age or older.

Once your account is set up, you can start playing at the casino. First, you must visit the promotions page and view all available bonuses. You will be able to choose which bonus you like the most. Just register and log in with the account you found at the casino. After you sign up and log in, click on the deposit button for the bonus you want to claim. You will be asked to specify the method of deposit and payout. Once you have decided how much you would like to wager, you must go ahead and pay. Once your money has been deposited, you can start playing.

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Step-by-Step Beginner's Guide How to Get Started at the Casino - Socialpost

Casinos are the most prominent form of gambling that is featured in movies. From Hollywood to Bollywood, and other movie industries, finding a movie with a casino gaming reference is as easy as breathing.

No doubt, these movies help to shine a light on casino gaming. In many cases, using casino gaming elements in these movies actually contributes to the popularity of casinos.

However, there is a problem, and that problem is affecting top casinos listed by Suomennetticasino.com today. The problem concerns finding the distinction between art and reality in casino-related movies.

Most peoples first experience with casino gaming is usually through movies. The way movies depict casino gaming sticks helps the individual form a perception of casinos and what casino gaming entails in general. This perception may be positive or negative, but the image it forms in the viewers mind depends on the context of the movie.

Unfortunately, art doesnt always clearly interpret reality. For casino gaming, many wrong perceptions have been passed down from movies through different generations that separate the art from the reality of casino gaming.

Casino gaming and movies are inseparable. Art grows drastically every day, and it gets better. Casino gaming movies have also evolved over time. Still, certain elements have stuck out with these movies that do not precisely reflect the reality of casino gaming. Some of the popular misconceptions about casinos in film include:

Usually, in movies, especially James Bond movies, casinos are presented as shady establishments where wanted criminals hold sway and run a criminal business out of the publics view. The narrative of casinos being set up for sinister purposes has sadly remained consistent in many movies, but this is not exactly true. Casinos are businesses that pay taxes and are subject to government rules and regulations. Casinos lead a lot of social endeavours and often contribute back to society. They are not criminal enterprises.

Another wrong interpretation of casino gaming in movies is making an intelligent character beat the casino gaming system. Casino gaming systems are very complex, and yes, smart players can study these systems to increase their chances. Still, it is not possible, as depicted in movies. The returns on most casino games are relatively low, and you cannot make riches quickly just by spinning a wheel or playing a straight-hand card.

This scene is quite common in casino movies. A player wins a couple of rounds. Rather than allow them to continue playing, the casino authorities who have been monitoring the player will throw them out and try to steal their money. This is a wrong interpretation. Casinos never throw players out unless they discover that the player is manipulating games. Usually, this is not because the casino does not want the player to succeed but because game manipulation erodes a fair gaming environment for other players.

Movies are one of the biggest art forms that highlight casino gaming, but misinterpreting the art does a lot more disservice to casino gaming than not highlighting it at all.

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Do Casino Movies Depict the Reality in Casino Gaming? - Entertainment Focus

Whitmer said she was concerned that the location of the proposed casino was close to the site of the Grand River Bands of Ottawa Indians, which is attempting to gain federal recognition as a tribe. If they are successful, the Grand River Bands could also want a casino in the area.

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Without that information (about whether the Grand River Bands application for federal recognition will be approved), I am unable to concur at this time and remain disappointed in the (U.S.) Department (of the Interior)s lack of flexibility in this process.

The deadline for Whitmer to make a decision on the casino was Thursday.

Larry Romanelli, leader of the Little River Band Ottawa Indians said he thinks Whitmer was misinformed about the project, stating the Grand River Bands of Ottawa Indians petition for federal approval has nothing to do with the casino project. He said he felt frustrated and disappointed.

The whole community is going to suffer from a no decision, he said.

The Little River Band of Ottawa Indians invested more than $30 million into the project, and the casino was expected to provide more than 3,000 jobs, Todd Dunham, Fruitport Townships town supervisor, said.

In a letter to Secretary of the Interior Debra Haaland, Whitmer requested the deadline extension because the determination could frustrate the Grand River Bands. The letter said she wants the decision on their recognition to be made in case they want to open a casino in the area.

Muskegon Sen. Jon Bumstead, R-Newaygo said he was frustrated with how long it took Whitmer to make a decision about the development.

The project was originally approved by former President Donald Trumps administration in December 2020, but the project must also be approved by the state. Whitmer was originally supposed to make a decision by December 2021, but she requested and was given a six-month extension by federal officials.

Im like the rest of the folks in Muskegon disbelief, total shock, after all these years, millions of dollars invested, that she decided not to sign off for reasons we dont know, Muskegon Sen. Jon Bumstead, R-Newaygo, said.

During a speech on the Senate floor Thursday, Bumstead called Whitmers rejection shameful.

Your denial of this project instantly killed 3,000 good-paying jobs in west Michigan, he said. You would rather protect the interests of your supporters in Southeast Michigan and play politics rather than upgrade new economic opportunities for families in west Michigan.

When he heard the news Dunham said, it was a blow.

It was like I got punched in the stomach, Dunham told Bridge.

He said hes not spoken to anyone in the area who agrees with Whitmers decision.

Dunham was baffled by Whitmer citing the Grand River Bands petition for federal recognition as a reason for her rejection of the casino project. He said it would likely take another 12-18 years before the Grand River Bands could have a realistic casino project, even after becoming federally recognized.

Im not buying any of this, Dunham said of Whitmers reasoning. I think this was all smoke and mirrors.

Romanelli was supposed to meet with Whitmer last week, but the governor's office pushed the meeting back until Wednesday afternoon. When the meeting was originally scheduled, he was under the impression Whitmer had not yet made up her mind. By the time they actually met, she had.

I wanted to make some last minute discussions with her, he said. I was left without being able to speak to her about the project. That was a little disheartening.

Muskegon historically was a more industrial area of the state, although more recently it has become more tourist-centric. The casino was expected to help with further development of the county by increasing tourism and investments in hotels.

Muskegon Heights City Manager Troy Bell told reporters Thursday that the area had been underinvested for years. He said the governors rejection means the opportunities for tourism revenues virtually went out the window.

The message I believe (the governors decision) is sending is that Muskegon doesnt matter, Bell told reporters.

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Muskegon shocked by Whitmer rejection of casino project - Bridge Michigan