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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.
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2017 Punta Cana Poker Classic Results -
The 2017 Punta Cana Poker Classic is now in the books and players are returning home after a week-long poker celebration. And after a major final table deal, two players have the most reason to celebrate. Roberto Carvallo ultimately won the tournament after negotiating a final table deal with Jamin Stokes.
NHL Odds: Winnipeg Jets vs. Minnesota Wild -
Blake Wheeler and the Winnipeg Jets will attempt to get two points closer to the Central Division lead on Tuesday, as they take on the Minnesota Wild on the road. The Jets have started strong, and sit in second place in their division. Led by RW Blake Wheeler, the Jets look like a team that could make some noise in the West this season.
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