CASINO

Galaxy second in Macau; Analysts raise estimates; City of Dreams hands over jackpot

TAGs: city of dreams, Galaxy Entertainment Group, Macau

Galaxy MacauGalaxy Entertainment Group’s ascent to the summit of Macau’s casino market is continuing after their market share rose 10% in only three months. According to Macau Business, the group’s market share rose to 19% in July up from 9% in April. That was before the new Galaxy Macau venue opened on the Cotai strip and goes to show the success that a new venue is likely to have on the enclave.

The only company ahead of Galaxy in the enclave’s casino gambling industry was Stanley Ho’s SJM Holdings. Ho’s company maintained its 28% market share from last month with Melco Crown following Galaxy with 16%. Wynn Macau took 15%, Sands China 14% and the wooden spoon went to MGM China garnering around 8% of the market.

Yesterday’s monthly coronation for the enclave’s gaming industry has led analysts to raise their estimates for the year’s gross gaming revenue numbers. After yesterday’s figures showed a 48.4% increase year-on-year Royal Bank of Scotland analyst Philip Tulk increased his projection of the enclave’s gross gaming revenue growth to 45%. Union Gaming Research Macau’s Grant Govertsen also raised his estimates to 40% as Macau continued to bask in the glory of the gaming industry sun.

City of Dreams has revealed that it handed over a HK$3million cash prize on Saturday. The lucky winner prevailed in the Triple Million Mania promotion. Macau Business described the process, saying, “All the participants have to do is to successfully roll the same triple combination twice in a row to win the grand cash prize of HK$3 million.” Makes it sound as easy as the Massachusetts state lottery. If you want a chance to become Macaumillionaire then get over to the City of Dreams quick – the promotion only runs until October 9.

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