A growth between 18 to 23 % year-on-year
(Macau).- Several gaming analysts have just revised upward their estimates for Macau’s gross gaming revenue for this month. This comes after the gaming industry posted a strong performance last week, with average daily revenue up by round 40 % in comparison with the previous week.
Predicts Las Vegas Sands
(Macau).- Las Vegas Sands says Macau’s gaming market could grow to eventually hit gross gaming revenue of us$ 100 billion per year, as new transport infrastructure comes online. In 2012, Macau’s casinos reported gross gaming revenue of us$ 37.4 billion. Las Vegas Sands is the parent company of Macau-based gaming operator Sands China.
It will be the firm’s second property in Macau
(Macau).- MGM China Holdings has inked a us$ 1.35 billion contract with the China State Construction Engineering group to act as the main contractor of its Cotai project. The deal, signed on June 7, was made public yesterday in a filing to the Hong Kong Stock Exchange. The developer says it is the largest wholly conducted contract in its history.
It should be finalised within this year
(Malaysia).- In an attempt to double its profit, Genting Malaysia is planning a us$ 958.01 million facelift for its 42-year-old hilltop Genting Highlands casino resort. The resort is facing increasing competition from newer casinos in Singapore and Macau.
Reported Morgan Stanley
(Japan).- A bill legalising casinos in Japan is expected to be passed by year-end, Morgan Stanley says in a report issued last week. Analysts Praveen Choudhary and Mia Nagasaka wrote: “Japan is the closest it has ever been to passing a bill legalising casinos.” They say the first land-based casinos could open in 2019-20 at earliest.
According to investment minister
(Sri Lanka).- Investment approval for Australian magnate James Packer's Crown group for a joint venture mixed development in Sri Lanka is being finalized and details will be presented parliament soon, investment minister Lakshman Abeywardena said.
Together with Coin-Tech Trading
(Macau).- Susan Mitchell, Managing Director Slot-Tickets Worldwide Sales, and Yeo Yang Peng, Director Coin-Tech Trading, presented the range of Slot-Tickets products at G2E Asia 2013, held last month in Macau. Mitchell stated that the show was a complete success and noted that it was much better attended this year.
The resort to be inaugurated on July 26th
(Vietnam).- Ho Tram Project Company (HTP) announced that its first resort, located around two hours from Vietnam's largest metropolis, Ho Chi Minh City, will open to the public next July 26th, and will operate under the name "The Grand - Ho Tram Strip".
Said sources from MGM China
(Macau, Exclusive Yogonet.com).- MGM China, one of the leading casino gaming resort developers, owners and operators in the greater China region, granted an interview to Yogonet.com about the development of Cotai project. Sources of the firm talked about this development, which officially broke ground last February 27, in a ceremony that gathered authorities of the island as well as executives from the company.
According to Barclays Research
(Macau).- Last week, Barclays Research said it forecasts Macau’s casino gross gaming revenue will grow 14 % this year. The investment bank expects growth to accelerate starting from 2015-16, based on increasing penetration of non-Guangdong visitors, improved infrastructure, new casino launches and new non-gaming offerings.