Sunday, July 5, 2015
Tuesday, June 30, 2015
The number of people – residents and non-residents – employed in “gaming and junket activities” in Macau rose 1 percent in the March to May period inclusive, compared to the previously measured period of February to April, despite the reported redundanciesthat have occurred in Macau’s VIP gaming segment.
The data were released on Monday by the city’s Statistics and Census Service. The total employed in gaming and junket activities rose to 84,600, from 83,800 in the three months to April 30, said the statistics service.
But the city’s overall unemployment rate rose by 0.1 percentage point to 1.8 percent in May, after more than a year at 1.7 percent.
Investment analysts at Morgan Stanley Asia Ltd said in a report on June 16 that the city’s casino operators had “limited room to cut costs”, adding it expected them to move some existing – and currently in the gaming downturn, underused – staff from already operational properties to the new ones on Cotai when they open.
“Operators now expect wage hikes in line with CPI [consumer price index] of 5 percent per annum in coming years, but given negative organic [gaming] revenue growth, margin erosion is meaningful. Existing casinos are hoping 5 to 15 percent of their staff join upcoming new casinos; so Sands [China Ltd], MGM [China Holdings Ltd] and SJM [Holdings Ltd] are carrying excess staff for longer.”
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Asia Pacific to have 17 new casinos
NEW CREDIT AGREEMENT TO HELP MGM COMPLETE $2.9 BILLION MACAU RESORT
Replace two VIP gaming tables with over 100 e-baccarat gaming machines
Macau government still plans to push ahead with a complete smoking ban in the city’s casinos
Macau operators might consider going into social gaming
SANDS CHINA LTD
Las Vegas Sands Corp.
Wynn Resorts Ltd.
Success Universe Group Ltd.
Wednesday, June 24, 2015
Online gambling operator bwin.party digital entertainment plc announced mere hours ago that it is to sell its interests in World Poker Tour to Hong Kong-listed company Ourgame International Holdings for the amount of US$35 million.
Ourgame is a China-headquartered social gaming company with a market capitalization of about HK$5.7 billion (US$733 million) and interests across the Asia-Pacific region. It offers a variety of online card and board games across a number of platforms. Currently, the company has more than500 million registered users. It has previously worked with WPT to assist the facilitation of WPT National China at MGM Grand Sanya Resort.
888 Holdings Bids for Bwin.Party
888 hands out special dividend, eyes acquisitions
888 Holdings Public Limited
bwin.party Digital Entertainment Plc