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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 :
NHL Odds: Lightning go for Season Sweep Over Red Wings -
The Tampa Bay Lightning (37-29-9) have been doing everything possible to make a fourth straight appearance in the Stanley Cup Playoffs. Without star centre Steven Stamkos, Nikita Kucherov (38 goals, 40 assists) and Victor Hedman (15 goals, 47 assists) have stepped up and will look to continue their strong play against the Wings. Game time is 7:30 PM ET on FS-D.
MPN Charity Poker Tournament at ICE 2017 -
During what was a busy three-days for Microgaming at ICE Totally Gaming 2017, the MPN team enjoyed a charity poker tournament with Microgaming operators on Tuesday 7 February.
US$30M DUBAI WORLD CUP -
Racecourse Media Group and Meydan to showcase world’s richest raceday to more than 150 territories The Dubai World Cup is the first horse race to be broadcast live on airlines and cruise lines
NHL Odds: Forsberg Faces Elliott in Nashville -
The last time the Nashville Predators played against the Calgary Flames, Calgary had a 4-1 lead five minutes into the second period. Nashville responded with four back-to-back goals, including a hat trick from centreman Filip Forsberg. Both teams went into overtime with five goals, and Calgary defenseman Mark Giordano (12 goals, 22 assists) scored the winning goal.
NBA Odds: Hawks, Wiz in Southeast Showdown -
The Washington Wizards (42-27 SU, 36-32-1 ATS) can pretty much secure the Southeast Division title with a win Wednesday night over the Atlanta Hawks (37-32 SU, 31-38 ATS). Tip-off is at 8 PM ET on ESPN; the Wizards lead Atlanta by five games with less than a month remaining before the playoffs.
NBA Odds: Clippers Try to Slow Down Bucks in LA -
Milwaukee Bucks small forward Giannis Antetokounmpo and Los Angeles Clippers power forward Blake Griffin are two of the most talented and versatile forwards in the NBA. The two lead their teams into battle on Wednesday in Los Angeles.
NHL Odds: Canadiens Welcome Islanders Tonight -
The Montreal Canadiens (32-20-8) welcome the New York Islanders (28-21-10) on Thursday (7:30 PM ET on SNE). After getting their first victory under new head coach Claude Julien, the Canadiens will look to build on that momentum against a red-hot Islanders team.
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