\nHoward Stutz, Las Vegas Review-Journal<\/p>\n
\tThe Macau casino industry didn\u2019t produce a third straight $4 billion gaming revenue month in April, but the final total and double-digit increase were enough to ease worries of a market slowdown.<\/p>\n
\tMacau\u2019s Gaming Inspection and Coordination Bureau said Friday casinos collected $3.9 billion in gaming revenue during April, a 10.6 percent increase over April 2013.<\/p>\n
\tThe figure might seem, paltry to investors after two straight $4 billion revenue months, including February\u2019s all-time single month record of $4.8 billion. Three American casino operators \u2014 Wynn Resorts Ltd., Las Vegas Sands Corp., and MGM Resorts International \u2014 operate casinos in Macau. The companies are all building multi-billion-dollar project on the Coati Strip to expand their holdings.<\/p>\n
\tUnion Gaming Group principal Grant Govertsen, who is based in Macau, told investors the availability of real-time market data often-times leads industry watchers to stir up unfounded fears.<\/p>\n
\t\u201cThe reality is that the market naturally ebbs and flows, and can and does slowdown in advance of holiday periods like the now-ongoing May holiday, and there doesn\u2019t have to be a perfect explanation every time,\u201d Govertsen said.<\/p>\n
\tDuring their recent first quarter earnings releases, casino company executives spent time on conference calls explaining why they are bullish on Macau. Wynn Resorts collected 75 percent of its overall $1.51 billion in quarterly revenue from Macau. Las Vegas Sands garnered more than half of its total $4.01 billion in company revenue from Macau.<\/p>\n
\t\u201cNothing has stopped them and I don\u2019t think anything will,\u201d Las Vegas Sands Chairman Sheldon Adelson said last month on Asian customers view of gambling. \u201cIf there is a momentary blip in the road, it\u2019s like a speed bump in a private housing development, where people don\u2019t want you to drive fast.\u201d<\/p>\n
\tDeutsche Bank gaming analyst Carlo Santarelli called the March results, \u201ca positive surprise,\u201d adding the final figure was in line with most forecasts.<\/p>\n
\tFor the first four months of the year, gaming revenue totals are up 17.5 percent over the same four months of 2013. Last year, Macau produced a record $45.2 billion in gaming revenue.<\/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 The Macau casino industry didn\u2019t produce a third straight $4 billion gaming revenue month in April, but the final total and double-digit increase were enough to ease worries of a market slowdown. Macau\u2019s Gaming Inspection…<\/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-7326","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\/7326","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=7326"}],"version-history":[{"count":0,"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/posts\/7326\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/media?parent=7326"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/categories?post=7326"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/tags?post=7326"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}