Posts Tagged ‘Grant Govertsen’

More Rungood for Macau

by , Jul 11, 2013 | 7:51 am

Macau gaming revenue grew 21.1 percent in June, as the world’s largest casino market continues to benefit from a nonstop supply of middle-class Chinese gamblers eager to place their bets in the former Portuguese colony.

Gambling revenue in the Chinese territory, just across the strait from Hong Kong, rose to $3.54 billion, according to figures released Monday by the Macau Gaming Inspection and Coordination Bureau. Analysts had forecast June growth to be up 18 percent to 22 percent.

Macau is the only place in China where people can legally gamble at casinos.

In May, revenues grew 13.5 percent to $3.7 billion, the second-largest single month collection ever recorded in Macau. The Chinese gambling enclave broke its monthly gaming revenue mark in March when casinos collected $3.92 billion.

Harry Curtis, an analyst with Nomura Equity Research, attributed the monthly numbers to a “stronger-than-expected final week” of June, as the “mass market headcount remains strong.”

There are two types of gamblers in Macau — mass market, which are mainly middle-class workers from China and elsewhere in Asia, and VIP or so-called high rollers.

More…


Macau Sees Record Gaming Revenues in March

by , Apr 10, 2013 | 10:00 am

Macau CasinoAny predictions of a slowdown in Macau’s gaming market are long forgotten.

The Chinese gaming enclave shattered the region’s monthly gaming revenue record in March, with casinos collecting more than $3.92 billion from gamblers during the month.

The figure eclipsed the previous one-month record of $3.5 billion in gaming revenues, which was set in December. The March total accounted for a 25.4 percent increase over the amount casinos collected in March 2012.

The monthly results were released Tuesday by the Macau Gaming Inspection and Coordination Bureau. The March total is the best year-over-year growth rate since January 2012, when gaming revenues increased by 35 percent.

Las Vegas Sands Corp., MGM Resorts International and Wynn Resorts Ltd. are the three American casino companies operating in Macau.

More…


Gaming Revenues Surging in Macau

by , Mar 9, 2013 | 10:00 am

Macau CasinoMacau casinos collected $3.4 billion in gaming revenues during February, a 12 percent increase compared with a year ago, according to figures released Friday by the Macau Gaming Inspection and Coordination Bureau.

For the first two months of 2013, Macau gaming revenues are up 9.4 percent over the same period in 2012.

Last year, Macau collected a record-setting $38 billion in gaming revenues.

RBC Capital Markets gaming analyst John Kempf told investors the February results “were encouraging” after the start of the Chinese New Year celebration during the month was slower than anticipated.

“It is likely that VIP volumes increased post Chinese New Year as the players avoided the crowds and extended their holiday past the typical seven to 10 days,” Kempf said.

More…


Macau #1, Vegas #2, Singapore #3

by , Mar 4, 2013 | 10:00 am

Las Vegas StripDespite predictions two years ago, Singapore did not surpass the Strip as the world’s No. 2 gaming market in 2012.

And it might not happen this year, according to one gaming analyst.

The island nation’s two casinos produced $5.85 billion in gaming revenues in 2012, an 8 percent increase over 2011. That figure fell short of the $6.2 billion produced by the Strip’s more than 40 casinos.

Macau is the world’s largest casino market with $38 billion in gaming revenues in 2012.

Las Vegas Sands Corp. operates the Marina Bay Sands, which collected 2012 gaming revenues of $2.94 billion. Malaysia-based Genting, which owns Resorts World Sentosa Island, Friday reported $2.91 billion in gaming revenues, as part of the company’s fourth-quarter earnings announcement.

More…


Singapore Surging

by , Feb 27, 2013 | 9:00 pm

Marina Bay Sands Singapore

Marina Bay Sands Singapore

Singapore didn’t pass Las Vegas as the world’s No. 2 gaming market in 2012, and might not happen this year, said one gaming analyst.

The island nation’s two casinos produced $5.85 billion in gaming revenues in 2012, an 8 percent increase over 2011. The figure fell short of the $6.2 billion produced by the Strip’s more than 40 casinos.

Macau is the world’s largest casino market with $38 billion in gaming revenues in 2012.

Las Vegas Sands Corp. operates the Marina Bay Sands, which collected $2.94 billion in gaming revenues in 2012. Malaysia-based Genting, which owns Resorts World Sentosa Island, reported $2.91 billion in gaming revenues Friday, as part of the company’s fourth quarter earnings announcement.

More…