Analysts in Macau think January will be the best month the enclave’s ever seen in terms of casino business and gaming industry revenues. Union Gaming Group’s Grant Govertsen made the prediction after Macau, like the rest of China, welcomed in the year of the dragon this past week. In a research note, obtained by the Las Vegas Review-Journal, he said: “Assuming hold is within the normal range, it should translate into record gross gaming revenue. We have walked most of the major casino floors on each of the past several nights, both on the Macau Peninsula and Cotai Strip, and have seen crowds grow significantly through (Tuesday).”
To break the record and become Macau’s biggest day ever they have to eclipse the figure reached in October which was MOP26.85billion (US$3.35bn). Govertsen certainly thinks it’s possible, adding: “We expect visitation to continue to grow on a sequential basis through Sunday and expect gaming volumes to similarly grow, ending January on a high note and setting the tone for the first quarter and beyond.”
Macau’s newest hotel will open on September 15 2012. Sheraton Macau, at Sands Cotai Central features 4,000 rooms, a number of restaurants, outdoor pools, a health clubs and 5,000 sq/m of meeting space across its twin towers. The company confirmed the opening on their website.
Manila’s newest casino business development will welcome Japanese firm Universal Entertainment as one of its tenants. The project, which will cost the firm owned by Kazuo Okada $2billion, is part of PAGCOR’s ambitious Entertainment City site expected to attracted investments up to $5bn over the next five years. Okada told reporters: “The Philippines is a very attractive country to invest (in),” adding his group was “very confident” at finding a local partner.