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March 2016 Macau Gambling Revenue
Friday April 1,2016 : MACAU GAMBLING REVENUE TUMBLES AGAIN IN MARCH
Revenue slump continues with 16.3 percent drop.
Official March 2016 figures from Macau’s Gaming Inspection and Coordination Bureau, show continued decline in revenues which were down 16.3 percent at 18 billion patacas ($2.3 billion), marking 22 consecutive months of decreasing revenues.
The Reuters news agency reports that visits by big-spending high-rollers became even more infrequent during March, and the adverse conditions generated by the Chinese central government clampdowns prevailed..
Analysts said volatility remains high in the VIP sector due to the government campaign as well as tighter regulations in Macau, with some predicting that revenue in Macau is likely to decline 0-10 percent in 2016.
The Bloomberg business news agency reported that the March decline was greater than predicted by analysts, and noted that around $46 billion of market value was wiped out last year from the city’s six gambling houses, although most of their shares have rebounded so far this year.
However, one analyst cautioned that the resurgence could be short-lived, pointing out:
“The recent share rally is based on its low valuation, it isn’t driven by business performance.”
Macau gaming revenue in the first quarter of 2016 has dropped 13.3 percent to 56 billion patacas.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
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