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Macau May 2016 Gambling Revenue
Thursday June 3,2016 : MACAU REVENUE DOWN 9.6 PERCENT IN MAY
Pace of decline rises month-on-month.
Official figures from the Macau government show that once again revenues on the gambling island fell in May 2016, dropping 9.6 percent on a year-on-year basis with analysts noting that the pace of decline appears to have accelerated on a month-on-month basis.
Gambling revenue for May was 18.4 billion patacas (US$2.3 billion), government data released on Wednesday showed, a steeper decline than analysts estimates of a 6 percent fall.
The figures represent the twenty-fourth month running in which Macau revenues have slipped, with revenues contracting by more than half over the past two years as the economic slowdown and anti-corruption drives in China took their toll.
The land casino industry on the island, situated off the Chinese mainland, provides 80 percent of government revenues, and the significant decline has impacted the islands economic growth, with recent statistics showing that the local economy shrank 13 percent in Q1-2016 (see previous InfoPowa reports.
Major casino operators on the island are being encouraged to diversify into the tourism business with their resorts, and future plans for the island include three new mega-resorts, with one incorporating a half size copy of the Eiffel Tower, and another a large man-made lake and mall with a Venice-inspired theme.
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Gambling News :
South Africa Going After Illegal Gambling -
In South Africa a combined national police and federal enforcement initiative has shuttered 19 illegal gambling venues across the provinces of Northern Cape and North West.
Global Poker League Championship Results -
#gpl The inaugural season of the Global Poker League Championship played out this week with the Montreal Nationals besting the Berlin Bears across 11 games to claim the $100,000 main prize.
Yahoo DFS Gets Uk License -
#yahoo Industry observers point out that Yahoo has thus far carried out little in the way of major marketing on DFS in its US endeavors, unlike rivals DraftKings and FanDuel, and they expect it to follow a similar path in the Britain.
SPANISH GAMBLING MARKET CONTINUES TO GROW -
Spain's gambling industry continued to advance in 2015 with growth in most sectors, according to the latest research report from the Codere - University of Madrid Institute for Policy and Governance collaboration released this week.
Novomatic Acquires Albanian National Lottery -
#Novomatic The Austrian gaming technology group Novomatic has issued a statement confirming that it has completed the final required steps for the successful acquisition of the Albanian National Lottery.
2016 Massachusetts Gaming Commission Report -
Industry journalist Steve Ruddock picked up on some interesting statistics from the latest annual report of the Massachusetts Gaming Commission released this week, flagging the current results from its on-going monitoring research of the state gambling market.
Jack Lam denies bribe allegations -
Allegations by Philippines Justice Secretary Vitaliano Aguirre that casino tycoon Jack Lam used 'facilitator' Wally Sombero in an attempt to bribe him into protecting Lam interests have been hotly denied by Lam.
Fonbet Gets Russian Betting License -
#Fonbet Russian-licensed operators are required to use officially sanctioned payment hubs called TSUPIS to facilitate government oversight, and this may be a concern for Fonbet at present.
New Attempts to Restore the Wire act -
In the first of these initiatives, which Online Poker Report notes is supported by only eight state AGs (half those who signed a similar letter last year), the signatories seek support for RAWA at a Congressional hearing scheduled for December 9.
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