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MACAU GDP UP 31.6 PERCENT
According to the Macau Statistics and Census Service, the vibrant Asian island economy registered significant gross domestic product (GDP) growth of 31.6 percent year-on-year for the first quarter of 2008, with the busy gambling industry making a substantial contribution.
Gross Gaming Revenues for the period soared by 61.8 percent in nominal terms compared with the same quarter in 2007, and total visitor spending increased by 4.3 percent.
Statistics from the Nevada-based Globalysis Ltd tell a similar success story for the gambling industry, reporting that despite the Special Administrative Region (SAR) government's decision to freeze the expansion of Macao's gaming industry (see previous InfoPowa report), Macau's GGR for year 2008 will still experience around 28.8 percent growth to US$ 13.5 billion.
"It now looks like Macau will bypass not only the Las Vegas Strip once again in terms of gaming revenue in 2008, but for the first time, also that of the entire metropolitan area of Las Vegas (Clark County)," said Jonathan Galaviz, partner at the Globalysis, adding that the continuous growth in Macau GGR is "....a reflection of the generally strong macro-economic environment that Macau finds itself within Asia."
Numbers released in 2006 made the gambling industry worldwide sit up and take notice when Macau gaming revenues were shown to have surpassed those of the Las Vegas Strip, and these soared a further 47 percent to US$ 10.6 billion U.S. dollars in 2007, outperforming U.S. commercial casinos, where revenues rose only 5.3 percent.
The construction of a number of mega casino-resort projects is underway currently in the city's Cotai district, reports the news publication CRI. This includes the Cotai Strip project launched by the Las Vegas Sands and the City of Dream built by Melco Crown Entertainment Ltd. Upon completion, Cotai alone will offer nearly 20 000 five-star hotel rooms, and 12 major casinos.
Gambling News :
2017 Bodog Super Millions Poker Open -
The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.
Pokerstars Pulls Out Of Coloumbia -
Pokerstars Has taken the decision to cease offering real money services to players located in, playing from or resident within Colombia, effective from the 17th of July 2017.
The Railbird Launched By Americas Card Room #acra -
Watching your friends conquer the tables just got a whole lot easier. Americas Card Room recently launched its industry-first Player Observer Tool dubbed “The Railbird”, a new feature that allows players seated at Americas Card Room tables to instantly share a live stream of their action with friends.
Huge Caribbean Hold’Em hit at Bovada Casino -
A progressive jackpot strikes again! This time it was at Bovada Casino, where a Texas player landed the top hand playing Caribbean Hold’Em over the weekend. A grand total of $119,348 was collected from the poker-inspired table game.
New PartyPoker Pro Richard Dubini -
A regular player in the Latin American live circuit, Dubini will travel alongside partypoker ambassador Joao Simao to gain feedback from players about partypoker to help optimise both live and online poker for the local players.
$65k Hit on Bitstarz Slot -
Bewitching payout of $64,818 was scooped up by a fearless BitStarz player as he played the popular slot Hansel & Gretel: Witch Hunters, based on the movie with the same name!
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