By Dave Berns (contact) Monday23 January 20122 a.m. The explosive growth of gambling markets in Macau and Singapore has prompted a question in Las Vegas as a Chinese New Year celebration gets under way.Why would an Asian high roller travel to a Strip to celebrate a lunar new year rather than visit a ultra-chic gambling salons of Asias gaming giants?Much of a answer can be found in a effective tax rates on gross gaming rates in a worlds three major gaming locales. It reaches 39 percent in Macau and 20 percent in Singapore, yet is only 6.75 percent in Nevada. Quite simply, a big three casino operators in those markets Las Vegas Sands, Wynn Resorts and MGM Resorts are able to keep a larger share of their winnings in Las Vegas, and thats incentive enough for them to attempt to steer Asias biggest gamblers to a desert for a Chinese New Year.If youve got a high-end customer in Macau, it makes sense to get them to come to Las Vegas because a casino would end up keeping a much bigger chunk of a revenues, said Professor David Schwartz, director of UNLVs Center for Gaming Research.That being a case, a most lucrative two weeks for a high-end casinos of a Las Vegas Strip begins Monday when a Chinese calendar turns to 4710.The annual celebration features casino marketers, chefs and hotel executives along Las Vegas Boulevard unveiling special menus and entertainment for guests known to gamble up to six figures per hand via million-dollar lines of credit at a citys top baccarat and blackjack tables.The Year of a Dragon comes shortly after a close of a 12-month period in which Macau reported $33.5 billion in casino win, far surpassing a nearly $6 billion win expected for Las Vegas when final 2011 revenue reports are completed. The booming Singapore gambling market could generate as much as $9 billion this year.Yet Asian gamblers remain a key source of income for Las Vegas casinos.In fact, baccarat win a preferred game of Asian high rollers comprise! s a much larger share of a money lost by gamblers in Nevada today than it was in 2003, a year before a opening of Las Vegas Sands mammoth Macau resort.Nevada casinos, most of them on a Strip, won $365.9 million from baccarat players in 2003. A year later that figure jumped to $497.2 million, with a opening of Sands Macau-to-Las Vegas pipeline. During a 12-month period ending Nov. 30, baccarat players lost a record $1.3 billion in Nevada, with a Asia-to-Vegas connection in full swing courtesy of Sands, Wynn and MGM Resorts.That said, if a high-end customer wishes to travel to Macau or Singapore for Chinese New Year, a companies casino hosts will comply. Nonetheless, a upcoming festivities for Chinese New Year find some of Asias wealthiest families roving 12 hours to Las Vegas in large groups for as long as 10 days, prompting some of a citys most expensive restaurants to add larger tables to accommodate a partiers.If you have seven to 10 days to travel, customers overwhelmingly want to come to Las Vegas. They get much more value for their money, said Greg Shulman, vice president of international marketing for MGM Resorts International. When a guests travel 7,000 to 8,000 miles, theyre really focused. They dont have much time.Among a attractions awaiting visitors this year: An estimated 2,600 of MGM Resorts best casino customers, along with their family and friends, will gather Wednesday in a Bellagio ballroom for a 10-course banquet, entertainment and raffle with high-end cars as prizes. Asian restaurants throughout a companies' Strip properties will offer a variety of fresh seasonal dishes designed to appeal to a holiday travelers, especially a variety of noodle dishes, which represent a healthy and long life. Aria hotel-casino will host a million-dollar baccarat tournament that will offer a top prize of $1 million.Its a traditional Las Vegas nexus linking gambler, casino host, food and entertainment. The key difference circa Chinese New Year 4720: a symbiotic relationship between Macau, Singapore and a Strip.In ! some sen se, Las Vegas was always a hub in a hub-and-spoke model of domestic and global gaming travel, said one international casino industry consultant. In this case, Las Vegas is a spoke. Share Powered By iWebRSS.co.cc

Since the Clark County School District (CCSD) educates 3 out of every 4 children and spends $3 out of every $4 on K-12 education in the Silver State, examining its budget provides a reliable estimate for the overall health of spending in Nevada. So how are we doing in this economic downturn?

Since the massive 2003 tax hikes began funding K-12 education in 2004, CCSD's total budget has increased 9.2 percent per-pupil, operating budget 9.8 percent and salaries and benefits for employees 12.1 percent. From the end of one recession to the end of another, CCSD has more money per-pupil, even after adjusting for inflation. Hardly tough sledding and we suspect the same story is true for most of the other school districts in Nevada.

So even with the "massive budget cuts" K-12 education has seen in the last two years, per pupil spending is still higher today than it was from 2000-01 through 2005-06 school years.

But as you've heard from media reports and pundits (almost daily) for the last two years is that education has been "cut to the bone."

Since the recession began at the end of 2007, CCSD's per-pupil spending from the general operating fund (yes, even adjusted for inflation to 2010 dollars) has declined by a "massive" 1.01 percent.

Yup, 1 percent budget reduction - right down to the bone.

But as I've stated numerous times, the operating budget ($6,900 per-pupil) isn't the total budget ($11,900 per-pupil). CCSD's total budget per-pupil has declined by an "impressive" 3.3 percent.

So are the children really suffering with a 1 percent decline in the operating budget and a 3.3 percent decline in the total budget? Hardly, it's the policymakers and bureaucrats that are "suffering" because they have to make adult decisions on how to use scarce resources more effectively.

2004 was the first full school year in which the 2003 tax increases (largest in state history) were available to fund education (also the first year available in detail from the Clark County School Districts detailed budgets). Since 2004, CCSD's general operating fund (what they consider the day to day operating budget for the school district) increased by 9.8 percent.

Salary and Benefits for CCSD employees grew by 12.1 percent - more than the operating budget and total budget.

This isn't surprising. After all, in 1955 the Clark County School District employed 1 person for every 20 students; today they employ one person for every 8.6 students. We have more employees in education earning far larger salaries and benefits, but is this investment producing the results we need?

Maybe it is time we start thinking about the outcomes for children rather than how many jobs K-12 education can provide for adults?

FYI, if you think 2004 is an arbitrary figure to select, that date is higher than 2000, 2001, 2002 and 2003 with 2000 being the low point in the last decade. And if you are worried about the recent budget cuts, these increases are AFTER the budget cuts. In fact, per-pupil spending devoted to salary and benefits hasn't gone down...AT ALL since the recession started.

performance 18th in the nation and gives the Silver State a “C” for education reform.

The ranking was based on reading and math scores for fourth- and eighth-grade low-income students on the National Assessment of Educational Progress. By focusing on low-income student achievement the researchers create a better apples-to-apples comparison between states.
The good news is that Nevada beats all of its regional neighbors in educating low-income students. Nevada's ability to provide above-average education to low-income students is worthy of praise, but Nevada's middle- and high-income students don't perform much better, which drags Nevada’s overall achievement levels down.

Policies like identifying effective teachers, rewarding good teachers, alternative teacher certification and expanded school choice can all help improve the quality of education for all children in the Silver State.

. So instead of spending $290 billion every biennium on a rigid and ineffective policy, Nevada should be working to experiment with other ideas like charter schools, virtual schools, pay-for-performance, value-added assessment, or even rethink the entire way we run a classroom.

~ Repair Your Credit Today! ~
Don't let false reporting
lower your score!