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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.
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$400k Winner at Bodog Casino -
To win, you need to get a pair of Tens or better. Jerry K., however, got a much higher hand than the minimum; he pocketed $397,879 after landing the game’s best possible hand: a royal flush.
NBA : Warriors Win the West; NBA Finals Next -
The Golden State Warriors will play in their third-straight NBA Finals. They completed their sweep of the San Antonio Spurs Monday night, rolling to a 129-115 victory as 12-point road favourites; Golden State opened the season as a –250 chalk to win the Western Conference.
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NHL Odds: Lone Canadian Team Plays on Friday -
“Stingy” is a word that many have used to describe the Ottawa Senators in Round Three. The Sens know that they’re overmatched against a Pens lineup that features the likes of Sidney Crosby, Evengi Malkin and Phil Kessel, but with determined defensive play, Ottawa managed to frustrate the Penguins on their home ice, stealing one of two games.
NBA Odds: Will Cavaliers Be Rusty in Game 1? -
The Boston Celtics needed seven games to get past the Washington Wizards, but they got the job done Monday night, winning 115-105 as 5.5-point home favourites. Next up: the defending champion Cleveland Cavaliers, who visit the Garden Wednesday night at 8:30 PM ET on TNT.
4 New Microgaming Releases in May 2017 -
Candy Dreams is a 720 ways to win, variable reel game. Players spin on a colorful reel area filled with candy treats, as they play towards enticing bonus triggers.
PKR Company Statement Update -
Microgaming can confirm that David R Taylor and Matthew R M Wild of RSM Restructuring Advisory LLP were appointed Joint Administrators of PKR Ltd and PKR Technologies Limited on 11 May 2017 by the High Court, Chancery Division.
Microgaming Wins The Spark Award 2017 -
The Spark Award celebrates organisations that experiment with ways of working differently. Previous winners include GCHQ and Places for People. It’s a part of Spark the Change, a global movement dedicated to empowering people and building happier workplaces.
NHL Predators First Ever Conference Finals Appearance -
With three of the team’s top four point scorers residing on the blueline, the Nashville Predators have found a strategy that frustrates even the best in the West. After qualifying as the lowest-seeded Western Conference team, the Predators made quick work of the Chicago Blackhawks (4-0) and St. Louis Blues (4-1) in the first two rounds.
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