Connect with us
SIS

Asia

Casino Revenue of Macau Increases in May

Niji Narayan

Published

on

Casino Revenue of Macau Increases in May
Photo Source: timeout.com
Reading Time: 1 minute

 

Macau’s Gaming Inspection and Coordination (DICJ) has reported an increase in casino revenue with €2.8 billion for May 2019. This is the highest revenue reported this year.

Gambling revenue in Macau hit a five-month high in May, despite a slower demand from high rollers and a slowdown in Macau’s economy. The US$3.21 million registered last month were higher than the €2.8 billion from May 2018, and also up from April’s €2.6 billion.

Recently, Fitch Ratings has revealed that it expects Macau gaming gross revenue (GGR) growth to be flat to low in 2019. The firm explained the industry will be negatively impacted by mainland China’s economic situation. As it decelerates, GGR will be impacted in the territory.

The International Monetary Fund (IMF) said that growth is projected at 4.3% in 2019 and will likely remain solid over the medium term at about 4%. The IMF said that the main driver of projected medium-term growth is tourism, with non-VIP tourism further expanding. It also said that there will be more subdued in VIP gaming growth.

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.

Continue Reading
Advertisement
Comments

Asia

Goa CM Says Casinos are Essential for Tourism in the State

Niji Narayan

Published

on

Goa CM Says Casinos are Essential for Tourism in the State
Photo Source: livemint.com
Reading Time: 1 minute

 

Goa Chief Minister Pramod Sawant has assessed the importance of casinos in the state and told that they are a very important part of the tourism industry as they attract tourists.

“During one of the media interviews, I was asked whether I support casinos. Casinos are one of the important parts of tourism as they attract tourists… of course, it is there,” Sawant said.

“We are getting direct and indirect revenue from the tourism industry. Now it depends on the stakeholders how to grow the industry, while the government can provide necessary infrastructure for them. We want to make it 100%,” Sawant added.

The Government of Goa has recently announced plans to ban residents from entering casino floors. However, the authorities did not set any timeline for the implementation of such a controversial measure.

“I am of the opinion that Goans should not be allowed in casinos. The Goa Gambling Policy makes it clear that casinos are allowed only for tourism purpose and not for Goans to visit. We have to sit and fix a date to ban Goa residents from casinos. They would be barred from entering offshore and onshore casinos,” Sawant said.

Continue Reading

Asia

Osaka City Planning Council Agrees to Change Yumeshima as Commercial Zone

Niji Narayan

Published

on

Osaka City Planning Council Agrees to Change Yumeshima as Commercial Zone
Photo Source: ft.com
Reading Time: 1 minute

 

The Osaka City Planning Council has agreed to change Yumeshima island to a commercial zone from its current status as an industrial or semi-industrial zone. The change in status of the zone is to promote Yumeshima as an international tourist hub and develop an integrated resort (IR).

“We will guide reasonable land usage for the purpose of creating a new international tourism hub on the coastal area. It is easily accessible from the city and it is possible to secure a large amount of land,” the Council said.

Yumeshima, an artificial island in Osaka Bay, will host the World Expo 2025. Japan is planning to develop integrated resorts before the World Expo 2025. The development of Yumeshima will be worth around JPY 95.4 billion. The city will extend its Osaka Metro Central Line and will connect Yumeshima to the city.

Continue Reading

Asia

Chinese Gambling Employees Leave Cambodia as Ban Comes into Force

Niji Narayan

Published

on

Chinese Gambling Employees Leave Cambodia as Ban Comes into Force
Photo Source: scmp.com
Reading Time: 1 minute

 

More than 10,000 Chinese citizens employed in the online gambling industry in Cambodia have been reportedly leaving, following the banning of gambling in the country.

Local news outlets from the Cambodian city of Sihanoukville, a coastal casino hub, reports that a large number of Chinese employees have left the area. The Cambodian government has announced that all online-gambling operations in the country will be banned with effect from early 2020. Almost all the gambling websites, conducting illegal operations, employ Chinese citizens. Most of their customers are also Chinese.

It may be noted that gambling is illegal in China. But many Chinese nationals engage with illegal gambling websites from neighboring countries. Even the Cambodian government’s ban on online gambling is said to be under pressure from China. There are also reports that China pressurizing the Philippines to ban all kinds of gambling in the country.

Continue Reading
Advertisement
NSoft

Global Gaming Industry Newsletter – Weekly Digest (sent every Wednesday)

Please select all the ways you would like to hear from European Gaming Media and Events:

You can unsubscribe at any time by clicking the link in the footer of our emails. For information about our privacy practices, please visit our website.

We use Mailchimp as our marketing platform. By clicking below to subscribe, you acknowledge that your information will be transferred to Mailchimp for processing. Learn more about Mailchimp's privacy practices here. Read more about European Gaming Media and Event's Privacy Policy and Terms of Service.

Subscribe to our News via Email

Enter your email address to subscribe to our news and receive notifications of new posts by email.

Latest by author

Trending

Notice for AdBlock users

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.