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Macau Economy Going DownHill
Monday March 16,2015 : CASINO LOSSES WEIGH ON MACAU ECONOMY
China's anti-corruption drive has far-reaching impact.
China's biting drive against corruption among the elite has impacted not only land casino performances in Macau, but the island's general economy, illustrating graphically the importance of diversification in place of too great a reliance on gambling businesses.
Official figures show that in Q4 last year the drop in visitor spending and gambling revenues caused the local economy to shrink 17.2 percent.
Casino GGR fell 28.9 percent in Q4, a steeper drop than the preceding quarter's deficit of 12.3 percent. Spending by visitors also declined, triggering a slide of 15.7 percent in tourism services.
Less pressure on the casinos in the first half of 2014 meant that for the full year the island's economy contracted by just 0.4 percent, with gross domestic product at patacas 443.3 billion (US$55.4 billion).
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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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