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ALARM AS MACAU GAMBLING SHARES HEAD SOUTH
Saturday October 8, 2011 : Asian markets in turmoil as investors offload on fears of a slowdown in China
The week is off to a scary start in Asia, with a wide range of news agencies and business media reporting that shares in Macau gambling companies have taken a severe beating as investors sell off gaming stocks on fears that a heightened credit squeeze on private firms in China will hurt gambling revenues.
Investors priced in concerns of a deepening slowdown in China on a sector that had previously been seen as nearly bullet-proof to the global decline.
The reports indicate that Galaxy Entertainment dropped close to 20 percent, while SJM slid 19 percent, against a 4.6 percent fall in the Hang Seng Index. Sands China dropped 14.3 percent, while Melco International slipped by 13.6 percent and Wynn Macau was off by the same number.
Analysts said the selling was defying fundamentals with liquidity in Macau still ample. Macau is due to post its September gaming revenues this week.
The island gambling mecca’s casinos suffered big losses last Friday.
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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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