Bloomberg L.P. and two of its reporters are being sued in a Hong Kong court by Imperial Pacific International Holdings for defamation, Marianas Variety reports. The High Court of Hong Kong SAR’s Court of First Instance has issued a writ of summons to Bloomberg, which has been named first defendant in the lawsuit. Bloomberg reporters […]
Internet usage in China’s second-tier cities is rising and that’s expected to accelerate outbound travel from these areas, potentially benefiting Macau, Bloomberg analyst Vey-Sern Ling said in a presentation at G2E Asia.
The Philippines is in a strong position to capture a growing share of the premium mass market to help diversify its tourism base, according to Bloomberg Intelligence. The industry in the Philippines has been reliant largely on the local mass market, though with the development of new IRs in the Entertainment City hub in Manila […]
Gambling revenue in Macau is poised to rise 7 percent in 2017 led by mass market players, according to analysts surveyed by Bloomberg. In November, visitor numbers from South Korea, Japan and the U.S. went up, offsetting the decline in mainland Chinese tourist arrivals. “There are definitely more reasons to come to Macau now versus […]
The rising and waning tides that propel Macau’s six casino operators in close harmony should experience more cross currents in 2016, Bloomberg Intelligence analysts wrote in a note. A wave of resort openings should benefit revenue and earnings of the first movers in this round of expansion – Galaxy, Melco Crown and Wynn Macau, said […]
As revenue declined month after month this year, Macau casino analysts have steadily cut their estimates for how the year will turn out, Bloomberg reported. In January, they forecast a slight increase in overall casino revenue after the 2.6 percent decline in 2014, the first drop in the city’s history. That estimate kept sliding throughout […]
Macau casino shares are down 55 percent from their January 2014 peak, despite rallying 21 percent in July, according to Bloomberg Intelligence analysts. “The reasons for the collapse include a slump in gambling revenue caused by a hiatus in resort openings, an anti-extravagance mindset among wealthy Chinese, a casino-floor smoking ban and challenging comparisons,” Tim […]
Indochina’s casino markets continue to present robust growth, providing significant investment opportunities for operators with a strong appetite for risk, but they are also likely to need deep pockets as established capital markets are wary of these grey jurisdictions.
Macau’s gaming stocks have rebounded to trade at two-year highs, tracking the recovery in gross gaming revenue, however analysts warn against over optimism, saying growth may be nearing its peak, at least in the short term.
Asia’s casino markets are being held back by a lack of regulation, rather than lack of demand, with the underlying drivers for growth, such as under penetration, a rapidly growing middle class and strong propensity to gamble still intact. That was the message from speakers at the G2E Asia conference in Macau this week, with analysts bullish on the prospects for the region despite the current market downturn.