Phyllis F. January 6, 2015 08:54:01
Following the plunge in revenues, Melco Crown may quit the HK stock exchange. The gambling enclave lost almost $100 billion of market value during the Chinese government’s clampdown on corruption. With revenues falling to 30.4% in December, 2013 ended badly for the gaming industry in Macau. This was the seventh month in a row where […]
Toni September 18, 2014 09:08:45
As Macau faces allegations of corruption and other irregularities, Las Vegas casinos have stepped in the picture to handle big spending gamblers. Las Vegas used to be considered the Gambling Mecca for decades until Macau stepped onto the scene to steal the spotlight. For over a decade, Macau has shown impressive financial reports and Las […]
Monica E. July 31, 2014 22:08:59
The reports for the second quarter of this financial year are not very optimistic for the world’s largest gambling destination. When Macau reported June’s year-on-year gaming revenue decline, investors said there was nothing to worry about. In fact, they said this was the bottom and predicted that the industry would make a fast recovery. But […]
Premium mass-market gamblers are perfect for casinos because they wage large amounts without demanding comps from the house. Melco Crown, the Macau casino venture of Australian billionaire James Packer and local Lawrence Ho beat revenue estimates for the first-quarter of 2014, pulling in pre-tax revenue of $387.5 million. While Macau poker rooms and casinos are […]
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