\nHoward Stutz, Las Vegas Review-Journal<\/p>\n
\tAnother month, another $4 billion in gaming revenue for Macau casinos.<\/p>\n
\tMacau\u2019s gaming market didn\u2019t show any slowdown in March after February\u2019s Chinese New Year holiday, growing revenue 13.1 percent during the month, according to figures released Tuesday by the Gaming Inspection and Coordination Bureau.<\/p>\n
\tFor the month, Macau casinos collected $4.4 billion in gaming revenue, the market\u2019s second straight $4 billion revenue month and third out of the past sixth months.<\/p>\n
\tThe March figure was the third highest on record for Macau, behind February\u2019s $4.8 billion and $4.6 billion last October.<\/p>\n
\tThrough the first three months of the year, Macau gaming revenue is up almost 20 percent higher when compared to the first three months of 2013. Last year, Macau casinos collected a record $45.2 billion in gaming revenue.<\/p>\n
\t\u201cMacau gaming trends are still strong across all relevant segments despite recent macro China fears, as well as concerns on various growth drivers,\u201d said Union Gaming Group analyst Grant Govertsen, who is based in Macau. \u201cTo date we are not seeing any indications that Macau\u2019s gaming industry is experiencing any such related weakness.\u201d<\/p>\n
\tLas Vegas Sands Corp., Wynn Resorts Ltd. and MGM Resorts International operate casinos in Macau and all three companies are in the process of building new multibillion-dollar hotel-casino developments on the region\u2019s Cotai Strip.<\/p>\n
\tGovertsen said the boost in the March numbers came despite several trends that seemed to be working against the market, including a comparison to March 2013, when gaming revenue grew 25 percent.<\/p>\n
\tAnalyst said the market should continue double-digit growth figures throughout 2014.<\/p>\n
\t\u201cDespite some extended Chinese New Year-related VIP events in the market in early March, we expect this year\u2019s trends to remain largely static from a seasonal perspective,\u201d said Deutsche Bank gaming analyst Carlo Santarelli.<\/p>\n
\tThis is a developing story. Check back for updates.<\/p>\n
No replies were posted for this topic.<\/p>\n","protected":false},"excerpt":{"rendered":"
Howard Stutz, Las Vegas Review-Journal Another month, another $4 billion in gaming revenue for Macau casinos. Macau\u2019s gaming market didn\u2019t show any slowdown in March after February\u2019s Chinese New Year holiday, growing revenue 13.1 percent during the month, according to…<\/p>\n","protected":false},"author":36,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-7185","post","type-post","status-publish","format-standard","hentry","category-latest-casino-news"],"_links":{"self":[{"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/posts\/7185","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/users\/36"}],"replies":[{"embeddable":true,"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/comments?post=7185"}],"version-history":[{"count":0,"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/posts\/7185\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/media?parent=7185"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/categories?post=7185"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/tags?post=7185"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}