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Macau Revenues soar 58 percent
Posted on 1/3/11 : NOTHER RECORD YEAR FOR MACAU
Revenues soar 58 percent on offshore gambling island
The gambling island of Macau off the Chinese coast has once again proved that it leads the global field, reporting revenues up 58 percent in 2010 to a new record of 188.34 billion patacas ($23.5 billion).
Analysts said the achievement was based on floods of punters from the Chinese mainland and the continued ascendancy of the Chinese national economy, with December gambling revenue soaring 66.4 percent to a record monthly high of 18.883 billion patacas, according to the Macau Gaming Inspection and Coordination Bureau.
The Reuters news agency reports that stellar growth in revenue in 2010 contrasts with a growth of only 10 percent in 2009, and opined that significant discretionary spending by affluent Chinese would continue to drive revenues in 2011 despite global economic storm clouds, although growth could moderate somewhat.
"The absolute level of the market is massive so it's hard to sustain that level of growth," said Aaron Fischer, CLSA's head of Asian gaming research, who expects Macau gambling revenue growth of 20 percent this year and 25 percent in 2012. Other observers were less optimistic, predicting 2011 growth of 17 percent, although they cautioned that a swing of ten percent in either direction was not impossible.
Janet Brashear of Bernstein research said: "Government and economic variables abound however, which could alter the growth rate dramatically in either direction."
Two new integrated casino resorts will be finished within 18 months on the Cotai strip, fuelling competition.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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