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Macaus gambling revenue declined in July 2016

Monday August 1,2016 : MACAU GAMBLING DECLINE CONTINUES
 
But its less than the preceding month.
 
For the 26th month running Macaus gambling revenue declined in July 2016, according to official figures released Monday by the regulator.
 
The Reuters news agency reported that gambling revenue in the southern Chinese territory fell 4.5 percent year-on-year to 17.8 billion patacas ($2.2 billion) - at the lower end of analysts expectations of between 4 and 8 percent.
 
Compared with the 8.5 percent decline recorded in June 2016 (see previous InfoPowa report), the July figure was however an improvement.
 
The protracted plunge in Macau revenues follows a Chinese government clampdown on corruption, targeting conspicuous spending by public officials. Slowing economic growth on the mainland - home to the majority of customers - has also hurt business, Reuters notes.
 
Macaus top leader, Fernando Chui, has taken an upbeat approach to the crisis, saying he expects the gambling hub to post positive growth next year following the opening of two multi-billion-dollar resorts over the next two months,  and executives from Sands China and Wynn Macau said last week that growth had picked up considerably over the past month due to an increase in visitors to the gambling island and mass market spending.

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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.

Another Mega Fortune Dreams jackpot for Euro 3.5 million - In a statement Friday NetEnt advised that the lucky player is a 62-year-old woman from central Finland who won the seven-figure sum from a Euro 1 stake.

Stanleybet has filed a legal action against the government of Cyprus - Bookmaking firm Stanleybet has filed a legal action against the government of Cyprus, claiming Euro 12.5 million as compensation for what it claims is loss of profits and opportunities, prejudice to image and business reputation and legal costs.

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.

Golden Nugget Las Vegas Launches New Betting App - Golden Nugget Las Vegas has unveiled a sports wagering app offering Nevada punters the comfort and convenience of being able to wager from anywhere in the state.

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.

Las Vegas Sands Fined for foreign bribery allegations - #lasvegassands Las Vegas Sands, the land casino company owned by multi-billionaire US mogul Sheldon Adelson, has again had to cough up a stiff penalty for non-compliance with the law.

Libratus AI Program Destroying Human Poker Opponents - #Libratus With 40,340 hands played (about a third of the 120,000 planned) Dong Kim is down $29,506, whilst Jimmy Chou ($113,7728), Daniel McAuley ($141,877) and Jason Les ($186,489) are all carrying losses.

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