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Gloomy Outlook For Macau Gambling

Thursday March 26,2015 : OUTLOOK DIM FOR MACAU GAMBLING (Update)
 
Ratings agency lowers its forecast on gaming revenue growth.
 
The challenges facing Macau's gambling industry, notably the Chinese central government crackdown on corruption, international competition for VIP punters and possible visa restrictions, together with the falling revenues in the offshore gambling mecca, have prompted the Fitch ratings agency to revise its forecast for revenue growth this year.
 
The agency has revised downwards its forecast from negative 4 percent to negative 22 percent in the wake of the latest numbers from Macau, which indicated that in February revenues were down 49 percent year-on-year and 18 percent month-over-month.
 
The Fitch advisory observed:
 
“We believe some VIP play is shifting to other jurisdictions that are under less political oversight and may offer better credit and/or commission terms. VIP volume increased 74 percent in 2H14 at Echo's and Crown's properties in Australia. Echo disclosed that its credit extensions increased 124 percent at its Sydney property in that quarter. NagaWorld in Cambodia grew its VIP volume in 2H14 by 47 percent. Much of the growth came from China.”
 
Despite the rather gloomy present, Fitch is more upbeat about the long-term future of the industry in Macau, observing:
 
“We estimate that GDP per table game is about $2 billion across all APAC countries, or roughly $300 million per table position assuming six positions per table. And, continued GDP expansion in the region and improving transportation infrastructure should support the gaming supply over the next several years.”



Gambling News :

Live Dealer Now At Slotocash - Live Dealer can be found in the left navigation menu under 'Live Dealer' when you, the player is logged in to instant play.

Advantages of online slots over slot machines - The rise of online casinos means that players no longer have to leave their own house to play casino games.

Betradar Launches US Sports Betting Solutions - With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.

Abdelaouhab Zizi Wins MPNPT Morocco Main Event - Abdelaouhab Zizi has defeated fellow Casablanca resident Fadhil Farag heads up to win the 2018 MPN Poker Tour Morocco Main Event and MAD 375,000 (c. €33,220) after a two-way deal.

Final 12 For MPNPT Morocco - Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).

MPNPT Morocco Updates - Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.

MPN Poker Tour Morocco Day 1A - The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.

2018 MPN Poker Classic - The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.

PDC and Sportradar Renew Deal - Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data

Poker Yaar Joins MPN - Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.

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