Macau is making strides towards its second best month on record. Investment banks Sterne Agee and Wells Fargo are both confident the enclave will hit something between MOP26.2billion and MOP 26.5billion in revenue for August. Sterne Agee’s David Bain wrote that the first 26 days of the month had reached MOP21.55bn and he added: “We forecast August’s gross gaming revenue to finish between MOP26.2 billion and MOP26.5 billion, or up 6 to 7 percent year-on-year”. Wells Fargo analyst Cameron McKnight added that revenue could rise by anything from 7 to 9 percent in August and if it were to hit the upper limit of that it would be the best month on record.
A government u-turn on Macau’s new gambling table cap has been given short shrift by the enclave’s casino firms. Last week it was reported that the table cap would change to mean that 20 poker tables count for just one, the same being the case for Mahjong. The Gaming Inspection and Coordination Bureau then told Macau Daily News this wasn’t the case and immediately stated the tables wouldn’t be tipping the balance of 5,500 anytime soon. Both Sands China and Wynn Macau were ready to invest in new tables, according to Business Daily, with a source telling the same publication that Sands “may remove poker altogether as it’s not an optimal use of table count”. Talk about toys out of the pram!
An Aussie entertainment firm and Vietnamese hotel and casino operator are teaming up to offer online casino gaming in regulated markets. Two-Way Limited, from Australia, and Donaco Singapore Pte signed a non-binding heads of agreement that sees a 75 percent share of the Lao Cai International Hotel handed to Two-Way in return for shares. Further discussions will be held on the deal and it still needs to be fully approved. The two could target locations in the Asian market if-and-when they see any regulation.