The Judiciary Police has cracked a criminal group that allegedly defrauded four casinos out of more than HKD2.8 million by using counterfeit tokens. The authorities received reports from three casinos between June and August this year that claimed that they had found, in total, 2329 counterfeit chips. The PJ then targeted six men from the mainland after an investigation. Four of the men, alongside two others, came to Macau again on 24 November… the PJ arrested the four suspects on November 25. They all confessed to the charges.
Monthly Archives: November 2013
Five slot parlors from two gaming operators were confirmed yesterday as having closed a year after the Macau government gave the industry notice it wanted slot venues moved out of residential areas. But Union Gaming Research Macau said yesterday: “We note that following its closure, SJM’s Yat Yuen Canidrome Slot Lounge has set up free shuttle bus services outside the site to transport its customers to SJM’s slot parlour at the [Casino] Lisboa.”
The closure of five slot machine parlours in residential areas will do little harm to Melco Crown Entertainment Ltd and SJM Holdings Ltd, Union Gaming Research says. The deadline for the closure of slot machine parlors in residential areas was yesterday… Union Gaming says the closures will trim its forecasts of EBITDA for both companies by under 1 percentage point.
Macau’s gross gaming revenue could double by 2018 says Billy Ng, a Hong Kong-based analyst for Bank of America Merrill Lynch. Expansion would be driven by the so-called ‘premium mass’ market of high stakes cash bet players, rather than credit-based high rollers reportedly suggested Mr Ng, the bank’s gaming analyst. “The peak period of growth in the VIP market has already passed, the premium mass will be the main driving force in the future,” … Macau’s annual casino revenue can “reach US$85 billion [678.7 billion patacas] in the coming five years”, reported the agency’s online portal attributing it to the analyst. Last year the city raked in the equivalent of US$38 billion (304.14 billion patacas) six times the amount of gambling revenue generated by the Las Vegas Strip in the same period. Up to the end of October, Macau recorded 297.10 billion patacas for 2013, a year-on-year expansion of 18 percent.
The boxing match at The Venetian Macao on Sunday morning Macau time between Filipino former world champion Manny Pacquiao and Brandon Rios for the WBO international welterweight title coincided with a 70 basis points lift in host Sands China Ltd’s gaming market share, suggests an analyst. “Saturday’s Pacquiao fight at the Venetian Macao likely boosted results (LVS’s share was up 70bps from last week),” wrote Cameron McKnight, senior analyst at Wells Fargo Securities LLC in New York in a note.
The Philippine Amusement and Gaming Corporation understood that with the influx of privately-owned casinos in the Philippines, its days of monopolizing the gaming industry in the country would also come to an end. And now, with the opening of Solaire Resort & Casino and the three other privately-owned casinos that will make up Entertainment City on their way, a decline in Pagcor’s gross gambling revenues is also to be expected… “The country’s gaming sector is growing but our income has declined because of competition given by these casinos,” Pagcor president and chief operating officer Jorge V. Sarmiento said… The effects of these privately-owned casinos are already being felt by the government-owned agency. In addition to posting lower gross revenues in the first nine months of 2013 compared to its 2012 figures, Pagcor has also had to close a number of its casinos, including at the Heritage Hotel Manila, located just a few cartwheels away from Entertainment City.
Junket operator Hengsheng Group has offered details of a plan to expand internationally from its Macau base ahead of a public listing, Reuters reports… “Right now we have agreements in place overseas, gradually we’ll move to open VIP rooms and then take stakes in the casinos,” he told the news service. Hengsheng already has cooperation agreements with Danang’s Crown Casino in Vietnam and the Walkerhill casino in Seoul. Recent entrant here, established in 2011, Hengsheng says its Macau’s third largest junket by rolling chip volume.
Council chiefs are fighting to stop a flood of betting shops opening in their borough. Redbridge has seen a rise in applications for bookies, and councilors are particularly concerned about those with fixed odds betting terminals… The council has passed a cross-party motion to lobby for a change in the law so that they can stop so many betting shops opening. The borough already has 70. Figures from the Greater London Authority show a 13 per cent rise in betting shops across the capital.
The Only Way is Essex Nightspot The Sugar Hut has this time hit the gambling news headlines after becoming the first nightclub to create their own mobile casino after striking up a partnership with the mobile casino geniuses over at Probability. Mobile casino operator Probability and the UK nightclub chain The Sugar Hut are a match made in manly heaven. Booze, birds and now a spot of gambling… what more could young men from the UK ask for? The pair have just struck a deal that sees The Sugar Hut take advantage of Probabilities B2B White Label service, allowing Probability to do what they do best while The Sugar Hut concentrates on pushing their mobile casino device to their ever growing number of customers. Not ones to mess about, The Sugar Hut mobile casino is already up and running, and the nightclub’s Marketing and PR Manager, Simon Rennall’s, believes the deal is revolutionary.
Lottery players across the United States are buying their Mega Millions tickets in preparation for Friday’s massive $230 million drawing, after nobody won Tuesday’s $205 million jackpot. The cash value stands at a staggering $125.1 million. Friday’s Mega Millions jackpot is the accumulation of 16 consecutive drawings without a top prize winner. The current jackpot run-up started on October 4 as a $12 million grand prize.