Finance house Nomura is warning that the volumes of VIP revenue and mass revenue reported by the Macau casino industry in November and December are “likely to be distorted by table reclassification”. Some casino operators have reportedly reclassified some mass tables to VIP following the smoking ban on casino mass floors.
Monthly Archives: November 2014
Gaming revenue at Macau’s Grand Emperor Hotel (pictured) which operates a casino under the gaming license of SJM Holdings Ltd fell 9.9 percent year-on-year in the six months to September 30. Market-wide, Macau casino revenue dropped by 0.9 percent during the same period, according to the local regulator, the Gaming Inspection and Coordination Bureau. Profit attributable to shareholders of Grand Emperor Hotel’s parent company Hong Kong-listed Emperor Entertainment Hotel Ltd fell 5.3 percent year-on-year in the fiscal half year, to HKD263.72 million (US$34 million) from HKD278.34 million in the year-prior period.
Sterne Agee estimates that table-only gross gaming revenue was MOP17.9 billion in the first 23 days of this month. Including assumptions about revenue from slot machines, the run rate implies that this month’s revenue will be 20 percent lower than a year ago, the stockbroker says.
It could be a game-changer. MICE sector revenues almost doubled in the first nine months of the year. And grew 82 percent in Q3. Expositions, fairs and congresses are generating more money per visitor than ever… an increase of only 14 events compared to the same period last year. Receipts from the exhibitions held in the period, however, surged 81 per cent year-on-year in the quarter… the total number of participants and attendees of these MICE events reached 724,800, up 16 per cent compared to the same period of last year.
Last week, the Macau government announced that the Lotus Bridge border, connecting with Hengqin, will be operating around the clock from December 18, while opening hours for the Border Gate will be extended, with the border checkpoint opening at 6 am and closing at 1 am. The Zhuhai-Macau Cross-Border Industrial Zone checkpoint, located in the Ilha Verde, will be open to Macau residents, non-resident workers and students between midnight and 7am the next morning. Barclays’ analysts believe that “[the extension of border crossing hours] could be positive in terms of the number of hours spent at gaming tables by same-day travelers, and, potentially, for casino operator revenues,” CNBC reported.
The Novomatic Group has announced that gaming industry veteran Jens Halle is to leave his joint positions as Managing Director, Austrian Gaming Industries and CEO of Novomatic Americas Sales. This move, which was reached by mutual agreement, will see Jens Halle relinquish his roles within Novomatic by the end of this year. Commenting on the decision Mr Halle said, “Fifteen years ago I was honored by the invitation of President and majority shareholder Professor Johann F. Graf to join the iconic Novomatic Group as Head of Sales. However, although I now feel the need for new challenges and new directions, I will always be grateful for the experience of working together with colleagues and friends and for the satisfaction that I gained from being within one of the gaming industry’s true leaders.”
While other online gambling operators remain committed to their respective business offices in Gibraltar, French sports betting operator Betclic Everest is going the other way, leaving the friendly confines of the British territory to relocate its business functions to its existing operations center in Malta. Betclic Everest closes Gibraltar operations ahead of Malta merger; Connective Games also heads to Malta”This relocation will allow us to gather teams on a site, in Malta, where we have already been successfully established for a long time,” Betclic Everest group CEO, Isabelle Andrès, told eGaming Review. “Therefore, we will be able to continue, most efficiently, the rationalization and the development of our activities,” she added
Greek gambling and sports betting operator OPAP reported a 19.1% 1.1 billion euros revenue increase for its Q3 2014… net profit performance of 25.9% 55.9 million euros… gross gaming revenue increase of 17.9% to 345.6 million euros… EBITDA increased by 33.1% to 94.2 million euros. Its Q3 performance places OPAP’s revenue for the nine months through to September 30 at just under 3 billion euros, a 12.9% increase.
A Caesars Entertainment Corp. creditor group said managers should be stripped of control of the casino company’s operating unit because they looted the subsidiary of more than $4 billion of assets. UMB Bank, trustee for first-lien noteholders owed about $1.25 billion, sued Caesars today in Delaware Chancery Court, repeating allegations made by junior creditors in August. Both groups of creditors have assailed Caesars’ directors, including David Bonderman, co-founder of buyout firm TPG Capital, and officials of Apollo Global Management LLC.
It’s a true reminder that the pace is quickening on the journey to Kentucky Derby 2015: the first of four pools in Churchill Downs’ Kentucky Derby Future Wager (“KDFW”) will open its three-day run on Friday, Nov. 28 and the “All Others” wagering interest is expected to be a heavy favorite when Derby future betting concludes early Sunday evening.