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May Macau Casino Revenues Doubled
6/2/10 - Casino gambling revenue in Macau, the Chinese offshore gambling destination, almost doubled last month, according to a report from the Bloomberg business news agency.
Gambling revenue for the city’s casinos in May 2010 rose to about 17 billion patacas (US$2.12 billion) from 8.8 billion patacas a year earlier, according to unidentified sources. The total for the five months through May rose to about 72 billion patacas from 43 billion patacas a year earlier.
Macau gambling revenue surged 57 percent in Q1/2010 to about 41 billion patacas as China’s economic growth accelerated to 11.9 percent, the fastest pace in almost three years.
“The strong growth for gaming revenue seems to come from more VIP versus mass” gambling, Huei Suen Ng, a Hong Kong-based analyst for CLSA Ltd., said in a note to clients. “The trend will favour casino operators who target VIP gamblers, or those who play at high-limit tables where bets can go up to as much as 2 million patacas per hand.”
The casino companies with “larger VIP exposure” are Wynn Macau Ltd., Melco Crown Entertainment Ltd., and Galaxy Entertainment Group Ltd., the CLSA analyst said.
CLSA analyists report that billionaire Stanley Ho’s SJM Holdings Ltd. has the highest market share among Macau casinos with 32 percent, followed by Sands China Ltd. with about 20 percent and Wynn Macau with 16 percent. Melco Crown had 14 percent, Galaxy had 11 percent and MGM Mirage had 7 percent.
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Gambling News :
Amaya FY2016 Trading Update -
The Montreal-based Amaya online gambling group has issued a trading update covering FY 2016 and improving its forecast revenue and earnings numbers.
LeoVegas To Sponsor Leicester Tigers -
The agreement includes official partner accreditation, media space at Welford Road stadium and matchday tickets and VIP hospitality as well as two pitchside perimeter boards from the 2017/18 season and one for duration of the 2016/17 season.
Optima Information Services iShop -
Industry visitors to the recent TVC Bookmakers Trade Fair in Solihull, UK were much taken by Spanish betting technology firm Optima Information Services' iShop product, and the company went on to win the SBC Best Retail Betting Product award with it last month.
CAGAYAN CHIEF MOVES TO REASSURE LICENSEES -
Apparently $4 million is going into improvements of the Authority’s data centre in the Freeport at Cagayan, whilst another $3 million has been earmarked for an upgrade to data infrastructure located outside the Freeport.
New Massachusetts Online Gambling Bill -
It seems that every two years (give or take a few months) Massachusetts state Senator Bruce Tarr flights an online gambling legalization bill in the state Senate.
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