GLOBAL GAMING REPORT: Casino revenue forecast to increase

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Jun. 22, 2007 Copyright © Las Vegas Review-Journal

GLOBAL GAMING REPORT: Casino revenue forecast to increase

Analysts: Study underestimates state's strengths

By ARNOLD M. KNIGHTLY REVIEW-JOURNAL

New hotel rooms and emerging technologies are projected to boost Nevada's gaming revenue at a 7.5 percent averaged annual rate during the next five years, according to a global gaming report released Thursday by PricewaterhouseCoopers.

However, some gaming analysts call the projections too soft, considering the number of rooms scheduled to open during that time.

Casino revenue in the state is projected to increase to $18.2 billion by 2011, according to the "Global Entertainment and Media Outlook" for 2007-2011, a report that provides analysis and five-year market forecasts on various segments of different industries.

The report projected an 11.6 percent increase in this year with a 9.6 percent increase in 2008, driven by the openings of the 3,000-room Palazzo by Las Vegas Sands Corp. this year and the 2,000-room Encore by Wynn Resorts Ltd. in 2008.

The openings of MGM Mirage's CityCenter in 2009 and Boyd Gaming Corp.'s Echelon in 2010 would bring 10,000 more rooms.

Bill Lerner, gaming analyst for Deutsche Bank, said that if the numbers prove to be accurate there will be some concerned casino developers, considering current plans call to add 44,000 rooms to existing inventory by 2012.

"That kind of growth rate suggests a disappointment somewhere along the chain scale given the amount of supply that is in the growth pipeline," Lerner said. "It maybe some of the lower-end guys losing."

Jeremy Aguero, a principal at Applied Analysis, said the new rooms in the pipeline would suggest a more robust growth in revenue.

"Over the next five years gaming growth will need to exceed that (7.5) percentage to maintain the status quo," Aguero said. "That would be somewhat of a disappointing performance."

PricewaterhouseCoopers could not be reached for comment.

Slot machine technologies will continue to lure new players, growing revenue 6.9 percent to $11.6 billion during the next five years.

The ability of companies to control slot technology from a centralized location -- instantly changing the game based on popularity, altering the size of the minimum bet based on traffic -- will drive the revenue growth.

The new technology could offer incentives to nongaming activities or distribute bonuses to surrounding players if a single player wins.

While Macau has continued to make gains in revenue, the Strip generated close to $7 billion in revenue in 2006.

The city is still well-positioned as a domestic, international and convention destination, luring 38.9 million to the area.

The report said the declining value of the U.S. dollar contributed to the Strip's growth in international tourism offering not only gaming but entertainment options, luxury accommodations and amenities such as nightclubs, restaurants and spas.

Gaming revenue in the United States is expected to grow to $79.6 billion from $57.5 billion, a 6.7 percent increase, in 2011.

Growth in Asia Pacific is projected to increase to $30.3 billion from $14.6 billion on an average increase of 15.9 percent per year.

Revenues worldwide are expected to increase to $144 billion by 2011, pushed by new markets, new properties in existing markets and upgrades at existing properties.

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Macao Gaming Revenue Millions!

Thursday, January 17, 2008 mgowanbo.cc

A booming start to 2008

Macao's gaming revenues reached US$ 680 million in the first 15 days of 2008, according to a report today (Thursday) by The Macao Daily News, a major local Chinese language newspaper.

The numbers look set to chase the record month of November last year for the Asian gambling Mecca, in which revenues reached US$ 1.2 billion.

The Las Vegas style casino resort MGM Grand Macao, opened in September 2007, has expanded the gaming market by increasing the number of casinos in Macao to 28, but the island city's gaming industry development may be affected by the credit crunch in the United States, said Dr. Fong Ka Chio, director of Institute for the Study of Commercial Gaming at the University of Macao.

He pointed out that the current subprime mortgage crisis may prompt banks to squeeze their credits, which will dry up funds for American gaming companies to further pursue their investment in Macao.

For the time being, big American gaming companies, including the Las Vegas Sands, Wynn and MGM Mirage have all entered Macao's gaming market, heating up the competition with local gaming magnate Stanley Ho whose decades-old monopoly ended in 2001.

Macao recorded gaming revenue of over US$ 10 billion in 2007, outstripping Las Vegas.

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Macau Permits Texas Hold'Em In Giant Casinos

Sunday, February 03, 2008 mgowanbo.cc

Asian gambling Mecca could see some serious land tournament activity

The Asian land gambling Mecca of Macau could become the setting for some major Texas Hold'em action following an Associated Press report that the local authorities have now permitted the giant casinos on the island to offer Texas Hold'em poker for the first time.

The Macau government issued the rules approving the popular poker variation earlier this week, which will allow the house to collect a commission of 3-5 percent of the betting pool for each game.

The first casino taking the plunge into offering Texas Hold'em is the Grand Lisboa, the flagship casino of Sociedade de Jogos de Macau (SJM) owned by Stanley Ho. According to a spokesperson, the casino has inaugurated four new tables dedicated to Texas Hold'em.

Interest in Texas Hold'em has exploded over the past few years in the United States and in Europe, thanks to major television exposure, fashion trends and big money tournaments.

Interest has also been growing in China, and the Asian Pokerstars Poker Tour, sponsored by PokerStars, hosted a leg in Macau at the Grand Waldo Hotel and Casino in November by special permission, attracting 352 poker players from around the world who built a $809 600 prize pool.

"We are confident that Texas Hold'em will become very popular here," Louis Ng, SJM director and chief operating officer told Associated Press. "It is popular in Europe and in the U.S. and there are international Texas Hold'em Poker tournaments every year."

Other casinos operators in Macau include Wynn, Las Vegas Sands and MGM Grand. According to regulators in Macau and Las Vegas, Macau raked in more gaming revenue in 2006 than the famous Las Vegas Strip.