Wednesday, March 4, 2015

Not so wow Macau

The Chinese New Year didn't save Macau gaming revenues in February which were down 48.6% on the previous year. However that apparently was better than some were expecting in Hong Kong: Macau Casino Revenue Has Record 49% Slump on Weak Demand

That now takes the 12 month rolling average well into negative territory down 12.2%

The previously released quarterly data which provides a breakdown of different games shows the downturn in gaming revenues has been pretty much all VIP Baccarat with the mass market segment continuing to grow in 2014: 

Meanwhile in other news this week the Friendly Fung Family have bought the Gold Coast horse racing properties of boganaire Nathan Tinkler: Tony Fung purchases Nathan Tinkler’s Gold Coast horse racing operation

These were previously passed in at auction where it had been reported that Michael King had been bidding for unnamed Hong Kong interests. King has recently been moved on from his role at Aquis and is still to face charges from ASIC over the collapse of his MFS group.

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