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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 :

Phil Ivey Loses Borgata Casino - Phil Ivey has lost in his four-year legal tussle with the Borgata over baccarat winnings; on Friday a US federal judge ruled that he and a companion violated New Jersey state gambling regulations in the manner in which they won nearly $10 million playing at the Atlantic City casino.

NYX Gaming in deal with Endemol - "Endemol Shine’s IP will be a strong addition to the NYX portfolio of content and we look forward to working together to bring additional instantly recognizable brands to market.”

NEW CAMBODIAN GAMBLING LAWS - After more than two years of debate and drafting, Cambodia may be closing in on final agreement regarding its proposed gambling law changes.

Congress To Review US SportsBetting Restrictions - Did the American Gaming Association’s campaign influence the decision to take another look at the 1992 Professional and Amateur Sports Protection Act?

Playtech Acquires ECM Systems - Online gambling soiftware provider Playtech plc has announced the acquisition of a ninety percent stake in UK bingo software developer ECM Systems for a consideration of GBP 14.9 million.

Marks and Spencer store Manager steals to Gamblie Online - The Cambridge News reports that a 28-year-old manager of a Marks and Spencer store, Martin Trenor, has been jailed for three years for stealing GBP 254,538.11 in shop takings over the course of a year and spending it almost immediately at online gambling websites.

Chinese Gambling crackdown could damage high roller revenue - Fast-moving events this week have seen Australian media reports quoting hundreds of millions of dollars wagered by Chinese high rollers in Aussie land casinos, offset to some extent by Crown claims that this whale gambler" demographic generates only 12 percent of turnover.

EvenBet Open Face Chinese Poker - Open Face Chinese Poker online games provider EvenBet has reported that its Open Face Chinese Poker product is gaining traction with games recently integrated for desktop action at the Malta-licensed operational site Poker Grant.

PartyPoker Millions tournament guarantee Now GBP 6 million - Online poker operator PartyPoker announced Thursday that it is to boost its PartyPoker Millions tournament guarantee by a million sterling to GBP 6 million, claiming it is now the biggest prize pool guarantee in European poker history.

2016 EPT Malta - The European Poker Tour is off to a good start in Malta, with German pro Dietrich Fast claiming a well-earned Euro 174,000 main prize in the Euro 10,000 buy-in Single-Entry Rebuy event.

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