CASINO

Macau daily gambling news

TAGs: Galaxy Entertainment Group, Macau, MGM Macau

mgm grand 1Gambling industry revenue in Macau rose by 24 percent in March to keep in line with predictions made by a number of analysts. The figure of 24.99 billion patacas (US$3.12 billion) might well represent lower growth than a year previous but it does continue to show how much growth this part of the world is continuing to experience. Analyst optimism will only grow with the opening of new casino business locations this year with Sands China set to open the first part of Sands Cotai Central this month. April also marks the end of the first quarter with the Macau Gaming Inspection and Coordination Bureau reporting gaming revenue rising by 27 percent compared with the same period in 2011.

Several of the enclave’s largest casinos participated in Earth Hour 2012 this past weekend. On Saturday night between 8:30 p.m. and 9:30 p.m. a number of locations switched off lighting in a show of solidarity with the World Wide Fund for Nature (WWF). Macau Business reports the MGM Macau as well as two Galaxy Entertainment Group locations (StarWorld and Galaxy Macau) were among those to partake in the hour-long blackout.

House prices in the gambling industry enclave have dropped by almost 10 percent in the past month. Data from the Financial Services Bureau showed the amount you pay for a house was down 9.5 percent to MOP41, 201 (US$ 5,150) compared with January. This was still above last year’s February total by 5.1 percent and the number of homes sold this February was up 25 percent to a little over 460.

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