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Macau Gambling : 42 percent improvement on 2010
01/03/2012 : BUMPER YEAR FOR MACAU GAMBLING
42 percent improvement on 2010
The Wall Street Journal reports that the gambling centre of Macau has a market that is now five times the size of Las Vegas, and that in 2011 its revenues soared 42 percent over the preceding year.
Fuelled by a constant flow of VIP visitors from China, revenues rocketed to 267.87 patacas ($33.47 billion) for the year and showed how successful Asia’s gaming industry continues to be – both land-based and online.
Galaxy Entertainment Group completed the year as the best performer in stocks and shares with stocks rising almost 62 percent over the course of the year to finish well ahead of the 30 percent increase achieved by its closest rival, Melco International Development.
Macau’s pre-eminent position was further confirmed by December's revenue, which finishing the year up 25 percent when revenue hit 23.61billion patacas ($2.95 billion) compared with the previous December figure of 18.8 billion patacas.
However, analysts believe the outlook for 2012 isn't as rosy and expect the pace of growth to slow, if for no other reason than the large haul recorded the previous year, the WSJ notes.
Experts pointed to intensifying concerns over the sustainability of the recent explosive growth in VIP gambling, which accounts for nearly 75 percent of all gambling revenue in Macau.
Wells Fargo analyst Cameron McKnight forecast in a recent report that Macau gambling revenue would continue to grow, but at a much more modest 11 percent in 2012.
One of the key focuses for the year will be on "whether or not the floor is going to fall out of the VIP market," Union Gaming analyst Grant Govertson told the Journal.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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