{"id":6247,"date":"2012-03-14T09:26:26","date_gmt":"2012-03-14T09:26:26","guid":{"rendered":"http:\/\/www.gaming-awards.com\/NEWS\/?p=6247"},"modified":"2012-03-14T09:26:26","modified_gmt":"2012-03-14T09:26:26","slug":"all-time-high-in-macau","status":"publish","type":"post","link":"https:\/\/gaming-awards.com\/NEWS\/all-time-high-in-macau\/","title":{"rendered":"All time high in Macau"},"content":{"rendered":"

\"\"<\/a>GROSS gaming revenue in Macau looks like it is on track for an all time high in March, according to business publication Forbes. It reports that channel checks for the first 11 days of March suggest GGR is growing at an impressive 40 percent annual rate, according to Citi. Revenue has already hit 9.3 billion Macau patacas ($1.16 billion) & could be on track to exceed the 26.8 billion pataca ($3.35 billion) record set last October.<\/p>\n

Analysts at Nomura are slightly less optimistic, Forbes reports. Forecasting March GGR of 25.5 billion patacas ($3.19 billion) on data from the first 11 days of the month this would imply about 27 percent year-over-year growth. Last year, there was brief scare that Chinese gamblers would perhaps shy away from Macau. This triggered a one-day slaughter on the Hong Kong market, with shares of major operators plunging by double-digit percentages.<\/p>\n

\u00a0\u201cThe standards by which the two jurisdictions are assessed are very different,\u201d said Ben Lee, managing partner of IGamiX, an industry consultancy. \u201cThey are popping Champagne corks in Las Vegas these days when growth hits 4%.\u201d<\/p>\n

\u00a0For, he pointed out, \u201cas your base grows, your percentage growth declines, and that is exactly what is happening this year.\u201d Expectations are high for the future too. \u201cOur main challenge is trying to manage investor expectations,\u201d said Grant Bowie, chief executive of MGM China. \u201cIf we grow 20% this year, that means we are going to be up roughly $7 billion. That\u2019s like adding another Las Vegas Strip.\u201d<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

GROSS gaming revenue in Macau looks like it is on track for an all time high in March, according to business publication Forbes. It reports that channel checks for the first 11 days of March suggest GGR is growing at an impressive 40 percent annual rate, according to Citi. Revenue has already hit 9.3 billion Macau patacas ($1.16 billion) & could be on track to exceed the 26.8 billion pataca ($3.35 billion) record set last October.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[9,17,23,45],"class_list":["post-6247","post","type-post","status-publish","format-standard","hentry","category-gaming","tag-featured","tag-gambling","tag-gaming-2","tag-macau2"],"yoast_head":"\nAll time high in Macau - iGaming Post<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gaming-awards.com\/NEWS\/all-time-high-in-macau\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"All time high in Macau - iGaming Post\" \/>\n<meta property=\"og:description\" content=\"GROSS gaming revenue in Macau looks like it is on track for an all time high in March, according to business publication Forbes. 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