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Macau February 2012 Revenues : Up 22.3 percent
03/01/2012 : MACAU SURGES UPWARD AGAIN
Offshore island gambling centre delivers another outstanding set of February revenues
Gambling revenue in Macau, the world's largest gambling destination off the coast of China, jumped 22.3 percent year on year in February 2012, slightly ahead of forecasts and buoyed by a strong flow of gamblers from mainland China.
Government figures released Thursday showed that revenue for February totalled 24.3 billion patacas ($3.04 billion), slightly higher than analysts expectations of 24 billion patacas, the Reuters news agency reports.
While gaming revenue in the former Portuguese colony reached $33.5 billion last year, many investors and analysts are pricing in a slowdown in growth from 42 percent in 2011 to 11-20 percent in 2012. February's stats may put a more a positive spin on some of the more pessimistic forecasts.
"The momentum is still there. If you look at February, there are only 29 days and no public holidays. The postings are surprisingly good," said Teng Yee Tan, analyst at CIMB Securities in Hong Kong.
Reuters notes that macro risks in China, including slowing economic growth and curtailed private lending due to rising bad debts, remain a key concern for Macau's lucrative VIP segment, which depends largely on the availability of private credit.
The majority of visitors to Macau still come from neighbouring Guangdong province, but analysts say improvements in transport and infrastructure in the coming year will help to penetrate deeper into China's interior.
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Kentucky Derby Odds: Justify still Favorite -
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MPN Poker Tour Bratislava | Day 2 -
It was a hard fight around the bubble, culminating in the elimination of Georgios Drakakis in 46th place. He received a surprise consolation entry into the next MPNPT stop in Sunny Beach, Bulgaria (5-8 July), which softened the blow of missing out on a €900 min-cash.
MPN Poker Tour Bratislava Day 1B -
Dorey Captures Chip Lead After MPNPT Bratislava Day 1b Triples 1a Field Size. The second flight of the €550 MPN Poker Tour Bratislava Main Event is in the bag, and so are the chips of 97 players who will be returning along with the 26 Day 1a survivors to fight to the money and beyond today
MPN Poker Tour Bratislava Day 1A -
The MPN Poker Tour has arrived in Bratislava for the very first time, bringing with it the Tour’s friendly mix of local and globe-trotting poker enthusiasts, pros and qualifiers to the beautiful Slovakian capital.
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