Free Newsletters - Space - Defense - Environment - Energy - Solar - Nuclear
..
. Energy News .




TRADE WARS
Macau gambling revenue hits record $38 bn in 2012
by Staff Writers
Hong Kong (AFP) Jan 2, 2013


Macau's gambling revenue jumped 13.5 percent to a record $38 billion in 2012, official figures showed Wednesday, despite the pace of growth in the world's largest gaming hub slowing from a year earlier.

Gaming revenue rose to 304.14 billion patacas from 267.87 billion patacas in 2011, according to statistics posted on the official Gaming Inspection and Coordination Bureau website.

But the pace of growth slowed from 2011, when revenues surged 42 percent year-on-year to $33.47 billion, as China's economy slowed and affected the mainland Chinese high-rollers who flock to the gaming tables in Macau.

Despite that, analysts said Macau's better-than-expected December gaming revenue -- which rose 19.6 percent year-on-year to 28.24 billion patacas -- suggested a rebound was in sight.

This compared to a 3.2 percent year-on-year growth in October and 7.9 percent in November

"The strong December (performance) represents a recovery in gaming revenue growth", Aaron Fischer, head of consumer and gaming research at brokerage CLSA, told AFP.

Fischer said the brokerage had forecast revenue would continue grow at a moderate 9.0 percent in 2013.

"However, with initial signs of macro-economic recovery in China, infrastructure improvements and a more stable political environment, our current gaming revenue estimate might appear to be on the conservative side."

The former Portuguese colony, the only part of China where casino gambling is legal, overtook Las Vegas as the world's gaming capital in terms of revenue after the sector was opened up to foreign competition in 2002.

The boom stands in sharp contrast to US venues such as Las Vegas, previously a byword for gambling but which is now suffering the effects of the global downturn.

But the high growth has also caused the Chinese and Macau governments to express concern about the city's gambling-dependent economy.

Six firms are licensed to operate casinos in Macau, which was handed back to Beijing in 1999, and they have transformed the Cotai Strip, a reclaimed swamp, into a glittering centre for gamblers.

.


Related Links
Global Trade News






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News





TRADE WARS
Taiwan's Fubon to invest $1.03 billion in Chinese bank
Taipei (AFP) Dec 27, 2012
Fubon, Taiwan's second-largest publicly listed financial group, said Thursday it plans to invest $6.45 billion yuan ($1.03 billion) to buy an 80 percent stake in China's First Sino Bank. Fubon Financial Holding said in a statement it would spend $5.65 billion yuan to acquire the stake in the bank and would subscribe for new shares worth another $800 million yuan after the purchase. The ... read more


TRADE WARS
Mortenson Renewable Energy Groups Wraps Up Record-Breaking Year

French power company head target of financial probe: source

Definition of sustainable organic biogas reached

Indian washermen spin out decades-old tradition

TRADE WARS
US salvage team boards grounded Alaska oil rig

Conservation Not Technology will be our Saviour Says Chris Martenson

Minister says Turkey will keep buying gas from Iran

Dominion To Develop Largest Fuel Cell Power Project In North America

TRADE WARS
NextEra Energy Resources commissions its 10,000th megawatt of wind energy

Largest Kansas wind farm set to go online

British offshore wind farm near completion

China's wind towers face U.S. tariffs

TRADE WARS
AE-AMD Renewable Energy And Tenesol Begin Work On Two Solar Projects In South Africa

Yingli Green Energy Powers Tibetan Families with off-grid PV Systems

Yingli Green Energy's Multicrystalline PV Module Passes TUV SUD's PID Test

First CIGS Solar Cells from the CIGS Facility of Solliance Show 13.85% Efficiency

TRADE WARS
Turkey says will decide soon on nuclear plant contract

Fireproofing inadequate at Japan nuclear reactors

S. Korea restarts troubled nuclear reactor

Active fault may close Japan nuclear plant

TRADE WARS
Boosting Galactan Sugars Could Boost Biofuel Production

Discovery May Pave Way to Genetically Enhanced Biofuel Crops

NC State Study Offers Insight Into Converting Wood to Bio-Oil

Can Algae-Derived Oils Support Large-Scale, Low-Cost Biofuels Production?

TRADE WARS
Mr Xi in Space

China plans manned space launch in 2013: state media

China to launch manned spacecraft

Tiangong 1 Parked And Waiting As Shenzhou 10 Mission Prep Continues

TRADE WARS
Iraq calls for Arab action on climate change

Geo-engineering against climate change

Dry spell projected for southwest US

Action by 2020 key for limiting climate change




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement