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Macau Whales Looking For Other Casinos To Play At
Saturday September 20,2014 : MACAU CHINESE HIGH SPENDERS LOOK ELSEWHERE (Update)
Macau operators concentrate efforts on attracting mass market cash betting patrons
Chinese high rolling gamblers are setting their sights on gambling destinations other than Macau as Chinese authorities clamp down on extravagance and corruption, Bloomberg reports.
According to Morgan Stanley Hong Kong analyst Praveen Choudhary, Chinese gamblers are boosting growth in casinos from Manila to Las Vegas as they fly under the Chinese authorities' radar, an analysis supported by MGM Resorts International and Wynn Resorts Ltd posting strong results recently attributed to a boost in baccarat, a card game favoured by Chinese gamblers
While the former Portuguese enclave remains the largest gambling hub worldwide, it has suffered declining gambling revenues over the last three consecutive months. Macau gambling revenues, however, remain seven times larger than the Las Vegas Strip.
Choudhary expects continued contraction of revenue from Chinese VIPs for the next six to nine months, saying Chinese hotel growth had been immediately affected by China's "anti-extravagance" campaign launched towards the end of 2012.
Kenneth Fong and Isis Wong, analysts for Credit Suisse back Choudhary's sentiment saying "Junket operators, which organize casino trips for wealthy Chinese VIPs, are bringing those gamblers to other locations such as Australia, Europe or the U.S. to avoid frequent appearance in Macau in light of the current sensitive political situation.”
In an effort to stay ahead, Macau resorts are increasing their efforts at attracting Mainland "mass market" cash-betting gamblers by allocating larger resources to this demographic. The mass market shift tends to provide wider margins than high rollers who rely on credit from Junket operators.
"The mass market shift is turning out to be quite lucrative and less volatile than the VIP business,” opined Mark Mobius, Chairman of Templeton Emerging Markets Group.
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.
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.
New MPN Poker Rooms Tower Torneos -
Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<
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