Manne wrote:
It’s no secret the Internet has changed the way we do many things and those shifts have rippled through several business models forcing companies to adapt or be left behind. Some of the more common examples include:
Apple’s iTunes and downloadable music has had a widespread impact on the music industry changing it from one focused on albums and CDs to downloadable singles for $0.99 apiece. The same can be said of
Amazon.com ability to have books, CDs and other items shipped to you rather than going to what used to be Sam Goody, Tower Records, or a Borders bookstore;
Netflix and other video streaming services that have out mom and pop video rental stores as well as one time high flier Blockbuster Video out of business;
Online brokerage services, such as TD Ameritrade Holding, Charles Schwab and others that have reshaped how investors buy and sell stocks;
Orbitz Worldwide,
Priceline.com, Expedia, Tripadvisor (TRIP) and other online travel sites have pulverized the travel agent business;
How we store digital photos and get them printed has given rise to companies like Shutterfly and Shutterstock, while leaving one time photo company Eastman Kodak (KODK) on the brink;
Even communicating via e-mail, text message and other message apps offered by Facebook, Google, Apple, Yahoo, AOL and others has taken its toll on the US Postal Service.
As technology marches on, the scope of industries affected by the Internet continues to expand. Last week, online learning company 2U, Inc filed for an IPO of up to $100 million. The Landover, Maryland-based company provides cloud-based online learning platforms that help nonprofit colleges and universities in student enrollment, education, support and other services. Another example is how the pharmaceutical industry is embracing the Internet and Cloud computing to streamline R&D budgets while facing a high proportion of patent expirations between 2011 and 2014. That’s shift has been good for companies like Medidata Solutions.
There are several industries that have only just starting embracing the Internet, and one of them is the gambling and casino industry. On a global basis, online gaming or iGaming as it has been called has grown into a multi-billion dollar business, particularly in Europe. In the past online gaming used to mainly attract younger men, but that demographic group has expanded to include both women and older age groups. Since 2004, women’s share of Internet users between the ages of 16 and 74 in Europe has increased by more than 80%, while the same age group for men has seen an increase of 60%. There have been fits and starts with online gaming here in the US in the past. After an initial surge Congress stepped in with new laws aimed at stopping online gaming. However, states have recently begun legalizing intrastate online gambling — Nevada, New Jersey and Delaware launched in 2013 and the states in which legalization legislation has been introduced continues to grow — California, Colorado, Hawaii, Illinois, Iowa, Louisiana, Massachusetts, Mississippi, and Pennsylvania.
How big can online gaming be? Well, in New Jersey, online gaming began on November 26 and generated $8.3 million by year’s end. GamblingData predicts New Jersey’s online gambling market will generate $262 million in gross gambling revenue this year and $463 million by 2017. Third party forecasters tout that the US. is poised to earn gross winnings of over $7.4 billion by 2017, representing around 30% of the global online gaming market. Imagine the incremental benefit to be had in New Jersey and others states when it comes to tax revenues.
Not everyone is happy about this progress. Some established businesses being hit by the disruptive Internet are looking to Congress to put the Internet genie back into the bottle. A well-funded campaign has been initiated to stop the growth, legalization and online competition for established brick-and-mortar gaming companies in its tracks. A group funded by a billionaire Vegas casino owner called the Coalition to Stop Internet Gambling, is hiring lobbyists and consultants to pressure Congress to outlaw competition from the Internet.
Former New York Governor George Pataki who now serves as the co-chair of the Coalition to Stop Internet Gambling, is attempting to paint a scary picture when it comes to Internet gaming instead of focusing on the potential benefits of jobs and tax revenue to be had while technology addresses consumer and business concerns. Keep in mind this is far different than the view the former governor expressed in late 1996 when he supported legalizing casino gambling in the state of New York. As Pataki said at the time “We have to be in a position where the state has the ability to have more control and possibility of getting revenue — property taxes, sales taxes, income taxes — from this industry.”
Given the fiscal status of many states and municipalities, one has to wonder why Pataki would want to keep the gaming industry confined to whips and buggies rather than implement business forward regulations to minimize the risks while maximizing jobs and taxable revenue. If such business forward regulations are not passed, we run the risk of potential online gaming revenues to both gaming companies and states/municipalities being losing out to offshore efforts, which would likely create far fewer jobs here in the US. If Pataki was still governor of New York, I have to wonder if his position on online gaming would be different.
Naturally, some have concerns but the fear driven rhetoric coming from Governor Pataki and the coalition doesn’t withstand even basic scrutiny. One such concern is making sure that minimum age to gamble rules are enforced and where applicable players are located within a state’s border in order to gamble. Just as was the case with online wine and alcohol sales, technology is offering the solution. In fact, states that are moving forward with onl
Other than months of increasingly embarrassing public attempts to woo back estranged wife-actress Paula Patton, from whom he separated in late February, there was also that last minute show cancellation at the casino in mid-March.
Thicke, the son of Canadian Walk of Fame honoree Alan Thicke, pulled out of his originally scheduled show at Casino Rama, about two hours north of Toronto, due to “vocal issues.”
But at the same time TMZ was reporting he was out late at an L.A. club celebrating his 37th birthday with Leonardo DiCaprio the previous evening.
“I’m sorry we couldn’t be here a few months ago,” Thicke did say about half-way through his 70-minute makeup show that drew a sold-out crowd of 5,000.
“What an honor and a pleasure it’s been to be back here. My grandfather is here tonight. God bless the patriarch of the family!”
At that point, Thicke’s grandpa stood up in the audience on the floor and gave a little wave when the spotlight hit him.
“Go get ‘em sexy!” Thicke joked.
His cousins and some aunts were also in the crowd.
“I have so much family here in Canada and that’s why it’s such an honor to come back here!” Thicke said.
Turns out he may need the support of those relatives as his marriage was reported as officially over this past week with Thicke and Patton’s $3-million Hollywood Hills home going on the market.
This on the heels of Thicke’s big commercial flop, Paula, released in late June, which sold a mere 550 copies in Canada during its first week of release.
That commercial failure, however, didn’t stop Thicke and his nine piece band from performing such Paula tracks on Saturday night as the aptly titled Too Little Too Late (which Thicke on his knees in front of his female backup singers), Love Can Grow Back, Lock the Door, Get Her Back and the show ending Forever Love.
“Please talk loud amongst yourselves,” said Thicke will introducing Lock The Door to scattered jokes from the crowd.
“It’s funny. It’s just not funny when it happens. It’s funny months later.”
To his credit, Thicke - seen earlier in the evening eating in the casino’s steak house, St. Germain’s with his family - came out swinging with a quartet of high energy dance songs - Give It 2 U, Magic, Take It Easy and Oh Shooter - that saw the crowd gather early at the front of the stage.
He also covered two big dance-soul anthems as the show was winding up - Michael Jackson’s Rock With You and Al Green’s Let’s Stay Together.
Initially decked out in sunglasses and black suit, vest and shirt, Thicke wasn’t the smoothest of performers although he clearly wants to be.
After he jumped on his stool to get on top of his piano for the second song, Magic, he later realized out loud: “You guys got another chair? I jumped on it on the second song and I broke it!”
And when Thicke was about to bust out his 2013 big breakout hit, Blurred Lines, he turned his back to the crowd before jumping into the audience to sing it, saying: “I got to fix my pants. I can’t do this song with my pants all messed up.”
SET LIST
Give It 2 U
Magic
Take It Easy on Me
Oh Shooter
Frankie Beverly
Pretty Lil Heart
Lost Without U
Band Solos
Too Little Too Late
Love Can Grow Back
Lock The Door
Get Her Back
Shakin’ It 4 Daddy
Rock With You
Let’s Stay Together
Blurred Lines
Forever Love