Archive for August, 2011

Galaxy’s underlying profit beats expectations, shares up – Reuters

Macau BusinessGalaxy's underlying profit beats expectations, shares upReutersHONG KONG, Aug 31 (Reuters) - Macau casino operator Galaxy Entertainment Group Ltd posted an 84 percent jump in underlying profit for the first half of this year on surging demand from cash-rich mainland Chinese gamblers, ...Galaxy Entertainment First-Half Net Profit Fell 20%Wall Street JournalGalaxy sees gaming revenue

Galaxy Entertainment First-Half Net Profit Fell 20% – Wall Street Journal

Macau BusinessGalaxy Entertainment First-Half Net Profit Fell 20%Wall Street JournalAssociated Press Galaxy Entertainment Group said its first-half net profit was dragged down by charged related to the opening of its new Macau casino, the Galaxy Macau. On May 15, the company opened Galaxy Macau, a US$2 billion casino complex in ...CORRECTED-UPDATE 2-Galaxy's underlying profit beats

Exports down – Macau Business

Macau BusinessExports downMacau BusinessMoody's Investors Service says the outlook for the Asia-Pacific gaming sector is stable with a positive bias; Macau's gaming industry is slated to continue to grow. Macau's casino gross gaming revenue should grow “above 35 percent” for the overall 2011 ...and more »

Macau’s casino revenue to grow above 35% in 2011: regulator – Macau Business

Macau BusinessMacau's casino revenue to grow above 35% in 2011: regulatorMacau BusinessMacau's casino gross gaming revenue should grow “above 35 percent” for the overall 2011, says the top regulator. The Gaming Inspection and Coordination Bureau director Manuel Joaquim das Neves made the estimate to Macau Daily Times. ...Gaming revenue to grow 'above 35 pct': regulatorMacau

Moody’s: Asia-Pac’s gaming sector outlook stable; Macau, Singapore to grow – India Infoline.com

Moody's: Asia-Pac's gaming sector outlook stable; Macau, Singapore to growIndia Infoline.comTsang was speaking on the release of Moody's outlook on the gaming industry in Asia Pacific, and which covers Macau, Singapore, Australia, and Malaysia. Tsang is the author of the report. Macau's gaming revenues could increase 15% to 25% annually, ...

Galaxy Entertainment misses estimates with H1 earnings – Reuters

Galaxy Entertainment misses estimates with H1 earningsReutersHONG KONG Aug 31 (Reuters) - Macau casino operator Galaxy Entertainment Group Ltd posted a worse- than-expected 20.4 percent decrease in first-half net profit, citing one-time expenses related to the opening of its new property in the world's largest ...Galaxy Entertainment First-Half Net Profit Fell 20%Wall Street Journalall 2

Hong Kong Stocks Gain on Optimism Fed Will Act; Casinos Rise – San Francisco Chronicle

Kansas City StarHong Kong Stocks Gain on Optimism Fed Will Act; Casinos RiseSan Francisco ChronicleSands China Ltd., a Macau casino operator, advanced 2.8 percent after Nomura Holdings Inc. said Macau's gambling revenue may be nearly 60 percent higher this month. China Shipping Development Co., which gets 36 percent of its revenue from outside China ...China

Stable outlook for Resorts World Malaysia, says Moody’s – The Edge Malaysia

Stable outlook for Resorts World Malaysia, says Moody'sThe Edge MalaysiaThe report said Macau's gaming revenues could increase 15% to 25% annually, driven by: 1) growth in the VIP business due to an increase in credits from casinos and junkets, 2) the Renminbi's appreciation and rising income of Chinese households, ...and more »

Hong Kong Stocks Swing Between Gains, Losses on U.S. Confidence – San Francisco Chronicle

Hong Kong Stocks Swing Between Gains, Losses on U.S. ConfidenceSan Francisco ChronicleSands China Ltd., a Macau casino operator, advanced 3.7 percent after Nomura Holdings Inc. said Macau's gambling revenue may be 60 percent higher this month. Rival Wynn Macau Ltd. rose 0.8 percent. The Hang Seng Index rose 0.2 percent to 20238.92 at ...and more »

Changing faces – BBC News

Boston GlobeChanging facesBBC NewsThe gambling industry is pivotal to the economic success of Macau. Gaming revenue makes up nearly half of the income for this special administrative region. One in five workers is employed in the casinos. "The gambling industry is the only industry in ...Vegas Casinos Have Unexplained Record Gambling Profits in JuneBlackjack Champall