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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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Opap in memorandum of understanding With Inspired -
Virtual sports provider Inspired has entered into a memorandum of understanding (MOU) with Greek betting and lottery operator OPAP for the supply of its full suite of virtual sports, for integration online and across OPAP's retail network.
DeltaCorp To Acquire ace2three -
Our readers will recall Delta Corp. acquired a 26 percent stake in Gaussian Networks, parent company of India’s largest online poker operator Adda52 earlier this month
More Australian POC Taxes -
In an interview with The Australian, Tabcorp chief executive offer David Attenborough warned “global rivals” of his belief that other Australian states are moving fast to follow South Australia’s lead in implementing a point of consumption tax.
William Hill Exits Russia -
"Starting from September 23 William Hill Casino Club will terminate its activities in the Russian territory for legislatory reasons. All active customer accounts will be suspended," the advisory reportedly detailed.
Pennsylvania Online Gambling Hearing Postponed till October -
HR 2150, which includes DFS and e-gaming elements, was passed as part of the critical state budget bill by the House in June this year, with lawmakers expecting the bill to contribute $100 million annually in licensing and fees to help balance the state budget.
Two Mega Fortune Dreams Jackpots Hit -
Both Swedish players, the first lucky punter hit a GBP 100,000 jackpot playing on his mobile phone, while the second, identified as Martin, staked just 18p before netting a GBP 60,000 jackpot on the popular series thinking he was playing in demo-mode.
ASA Looking at Ladbrokes and Netbet ads -
A TV ad for Cosmo Gaming’s NetBet online casino was determined by the UK Advertising Standards Authority (ASA) as glamorising online gambling following a single complaint.
Betconstruct In Deal With Realistic Games -
BetConstruct has agreed a deal in which it will integrate a range of Realistic Games online table and slot content including blackjack, roulette and slot titles Super Graphics Upside Down, The Fruit Factory and Fireworks.
XLMedia Half 1 2016 Earnings Report -
Online gambling marketing company XLMedia, which operates websites driving players to online casino operators, delivered robust interim results for the first half of 2016, attributing its success to investment in technology.
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