Online Casino Transfer: News - Macau Sees Growth Spurt

01/16/2010		Online Casino Style: News Macau Sees Growth Spurt
Home History Games News Dictionary		Many of the fears surrounding the online gambling industry on the island of Macau could very well be soothed in this New Year, as the first report from Reuters’ news agency shows an increase in business as high as 48 percent from the previous year. While many gambling companies – land-based and internet casinos alike – struggled through 2009 against rough economic waters, Macau has not only managed to keep their head above water in both sectors, but is well-prepped to succeed once again this year. The land-based casinos did particularly well towards the end of the 2009 year, as the December figures showed an increase of 48 percent to 11 billion patacas ($1.42 billion). According to a recent report by the Portuguese news source Lusa, the Las Vegas Sands in Macau saw a jump of 4.72 percent in stock prices, while fellow competitor the Mynn Macau rose 3.56 percent to a three-week high price of HK $9.89. Stanley Ho’s SJM Holdings gained an impressive 5.7 percent, to its highest price in two months at HK $4.63. "The first half will be very strong; we should see momentum maintained," said Aaron Fischer, CLSA's head of Asian consumer and gaming. "We believe the earnings will surprise significantly on the upside," Fischer added. "Revenue growth has been very strong for the last few months and these companies have been cutting costs a lot." Fischer went on to predict revenues to continue rising, as much as another 17 percent by the end of the year. Macau is home to a number of land-based casinos, rounding out the island’s reputation and balancing the business with the internet casinos that call Macau home base.

01/16/2010

Online Casino Style: News
Macau Sees Growth Spurt

Many of the fears surrounding the online gambling industry on the island of Macau could very well be soothed in this New Year, as the first report from Reuters’ news agency shows an increase in business as high as 48 percent from the previous year. While many gambling companies – land-based and internet casinos alike – struggled through 2009 against rough economic waters, Macau has not only managed to keep their head above water in both sectors, but is well-prepped to succeed once again this year.

The land-based casinos did particularly well towards the end of the 2009 year, as the December figures showed an increase of 48 percent to 11 billion patacas ($1.42 billion). According to a recent report by the Portuguese news source Lusa, the Las Vegas Sands in Macau saw a jump of 4.72 percent in stock prices, while fellow competitor the Mynn Macau rose 3.56 percent to a three-week high price of HK $9.89. Stanley Ho’s SJM Holdings gained an impressive 5.7 percent, to its highest price in two months at HK $4.63.

"The first half will be very strong; we should see momentum maintained," said Aaron Fischer, CLSA's head of Asian consumer and gaming. "We believe the earnings will surprise significantly on the upside," Fischer added. "Revenue growth has been very strong for the last few months and these companies have been cutting costs a lot." Fischer went on to predict revenues to continue rising, as much as another 17 percent by the end of the year. Macau is home to a number of land-based casinos, rounding out the island’s reputation and balancing the business with the internet casinos that call Macau home base.