Wells Fargo says the outlook for Macau in the short run remains positive. A note by Wells Fargo gaming analyst Cameron McKnight says deceleration of credit growth could weigh on growth in Macau in the middle of next year, but that the consensus is that growth next year will be about 10 percent. Mr. McKnight says concern about another credit crunch in the mainland is overdone.
Monthly Archives: December 2013
Malaysia’s RHB Research Institute Sdn Bhd a specialist in economic, equity, and debt market analysis says the country’s gaming sector is likely to continue to lag well behind Macau’s casino industry in revenue growth… “We are forecasting for sectoral earnings growth [in Malaysia gaming] of 5.6 percent for CY14 [calendar year 2014] and 6.7 percent for CY15,” said RHB analyst Kong Heng Siong. Analyst consensus for revenue growth among Macau’s casino operators is 22.4 percent for CY14 and 17.8 percent for CY15, says the research house. “The sturdier growth in Macau’s gaming market, in our view, is mainly underpinned by the continued influx of visitors from China in tandem with the domestic economy’s expansion,” RHB’s Mr Kong said.
A young resident, aged 21, was gambling online when another player convinced him that he was willing to sell 10,000 gaming chips for MOP600. The Macau resident ended up paying over MOP2,000 but never saw any of the gaming chips, the Judiciary Police (PJ) revealed yesterday in a press conference. Over the past week, various fraud-related offenses have been committed. Among them is the case of the young resident who deposited MOP600 into the bank account of the player he met online in exchange for 10,000 chips. However, the suspect said that the amount was incorrect and ordered him to make a second deposit of MOP1,807.
Macau’s Gross National Income (GNI) at current prices amounted to MOP301.72 billion (USD37.78 billion) in 2012, up 13 percent year-on-year in real terms… The figure was 13.4 percent lower than Macau’s Gross Domestic Product (GDP) of 2012, which reached 348.22 billion patacas ($43.6 billion). Besides, per-capita GNI amounted to 530,221 patacas ($66,383), 81,709 patacas lower than per-capita GDP of 611,930 patacas ($76,613).
The Caribbean Gaming Show & Summit will be celebrating its 5th anniversary at the at the Puerto Rico Convention Center, next March 19-20… “With the sponsorship of Compañía de Turismo de Puerto Rico and its Gaming Division, the progress of the organization in this sense has been positive. The support of the authority and the local industry, added to the enthusiasm for once again hosting a Gaming Show in the country, demonstrates the wisdom of selecting Puerto Rico as the new venue for CGS”, explains Elizabeth Leiva. With CGS2014 fewer than 14 weeks away, the following companies have confirmed their presence: Bally, Shuffle Master, Aristocrat, Novomatic, GLI, UNLV, BMM Avigilon, Reel Games, Gaming Associates, TCS John Huxley, DLV Gaming, Zuum, Ainsworth Gaming, Ortiz, Spin Inc., Bet Construct, JF Gaming, Aruze Gaming, Gasser Chair, Amatic Gaming, Recreativos Franco, Ranger Puerto Rico, Casino Essentials, CMS Group, Axis Communications, TransAct Technologies, e-Connect, ATMMS USA, Aroma Sys, Knockout Gaming and Slot Tickets.
As Bermuda’s government prepares to introduce gaming legislation as a potential “game changer” for the island’s struggling economy, tourism chiefs in Cayman believe lawmakers here should take a more cautious approach. A planned referendum in Bermuda was scrapped and the government announced plans to bring to a vote legislation to legalize gambling in the country’s legislative assembly early in 2014… For Cayman, though, the economic situation is not quite so dire. And though casino gambling has its advocates, many, including the Cayman Islands Tourism Association, believe there are far more pressing issues to consider in the new year.
The project, which includes a six-star hotel, a glamorous 600-seat function room and exclusive restaurants, was created in the framework of the Government’s proposal to transform William Street into an integrated gaming, resort and entertainment development. The new hotel, featuring 90 luxury rooms, will occupy the current casino building. That will serve as a boost to the entire precinct, particularly at night, when the building will light the whole area.
The first day of the new year will have a whole plate of matches that we can all indulge a little bet or two in and if you’re pockets aren’t too disheveled from the holidays, maybe you can also start 2014 on the right betting foot. The UK is a ripe spot for some sports betting, thanks to a full calendar of football matches, from the Premier League all the way to Conference leagues. There aren’t any marquee matches on the first of January, but there are some appetizing games that will directly affect the top and bottom of the Premier League standings. How’s Swansea and Manchester City, for you? How about Arsenal against Cardiff, or Liverpool versus Hull City? Maybe have some helpings of Southampton taking on Chelsea? … English football isn’t the only one on tap in the British islands on New Year’s day. The Scottish Premier League will have its lights on, as will the Welsh and Northern Ireland top leagues.
Mountaineer Park in West Virginia had daily average handle of $1.18 million in 2013 for 210 race cards, an increase of 3.2 percent over the average wagering figure for the track last year… Purses at the track, which are heavily subsidized by casino revenues, averaged $126,026 per day, on a total of $26.47 million. The total purse distribution was up 9 percent compared to last year, Mountaineer said.
The final piece of a Columbus group’s plan to preserve horse racing in the city is about to fall into place. Columbus Exposition and Racing Inc. takes over simulcast betting at Agricultural Park beginning Wednesday. The five-member nonprofit group formed earlier this year after the Platte County Agricultural Society decided to end its involvement with live horse racing, which has recently been a money-losing venture here.