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Macau daily gambling news

TAGs: casino kam pek paradise, Macau, Paradise Entertainment

macau skyline 4Macau is set to enter the record books with analysts predicting a record gaming revenue figure for the month of October. David Bain, analyst at Sterne Agee wrote an investors note in which he predicted the market will increase by 5 percent compared with last year and set an all time record of MOP28.2billion – inclusive of slots. Citi Group joined the feel-good movement by stating that revenue will reach MOP28bn – the highest figure since 2006. Bain, by now donning a mask from his Batman namesake, concluded that the political handover in China could be a catalyst for further VIP growth, something that has been floundering in recent months. If you saw him, you wouldn’t argue.

SJM Holdings will remain atop the Macau market in October despite analysts projecting their market share to drop from 27.2 percent to 26.4 percent. Macau Business report that it will mean Galaxy Entertainment Group seeing a rise in their share from 18.1 percent to 20.5 percent and Sands China experiencing a 2 percent increase to 19.7 percent. Melco Crown also saw an increase of it share by 0.2 percent to 14.5 percent with Wynn Macau and MGM China dropping to 10.3 percent and 8.6 percent respectively.

MGM China is proposing to increase its five-year syndicated loan by around $500billion in order to fund its entire operation in the enclave. It was reported in International Finance Review Asia (IFR) that the company wants to finalise the deal this month that would increase the loan from $1.5bn to $2bn.

Paradise Entertainment Ltd, operator of Casino Kam Pek Paradise, is expecting the venue to continue recording a profit during the second half of the year. The firm told the Hong Kong Stock Exchange that the strong performance would result in “a significant increase in profit for the whole year”. The performance is also buoyed by the “continued strong performance” of gaming machine and equipment supplier LT Game.

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