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Macau 2010 - Gambling mecca starts the new year in an upbeat mood
1/5/10 - With 2010 barely days old, the Reuters news agency reports that shares of Macau land casino operators rose this week on reports that gambling revenues in the enclave in December 2009 rose 48 percent from a year earlier, signalling sustained growth in the world's largest gambling market.
Macau casino revenue rose 48 percent to 11 billion patacas ($1.42 billion) in December, compared with a year earlier, according to a report from Portuguese news agency Lusa.
The Macau unit of Las Vegas Sands rose as much as 4.72 percent to a near three-week high of HK$10.42, while Wynn Macau the Macau unit of Wynn Resorts advanced 3.56 percent to a three-week high of HK$9.89.
SJM Holdings, Macau gambling tycoon Stanley Ho's flagship firm, gained up to 5.7 percent to its highest level in more than two months at HK$4.63.
"The first half will be very strong; we should see momentum maintained," said Aaron Fischer, CLSA's head of Asian consumer and gaming.
"We believe the earnings will surprise significantly on the upside," Fischer added. "Revenue growth has been very strong for the last few months and these companies have been cutting costs a lot."
Fischer expects Macau gambling revenues to rise 17 percent in 2010, a significant improvement on 2009's overall 10 percent.
Fischer's top picks are Wynn Macau, which is slated to open a new Macau resort on April 1, and SJM, Macau's biggest casino operator by market share, thanks to the recent opening of its latest property, "Casino Oceanus."
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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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