Posts Tagged ‘Macau’

Macau is continuing to be the shining light in the eyes of the casino world as the stocks and shares for casino operators based in Macau saw a sharp rise in value. Some shares saw a rise of up to 7% in value. Casino operators had been suffering these last few years with casino restrictions in the USA and the collapse of the economy. The area of Macau however is defying all the doom and gloom and saw a rise of revenue by 59 percent from the previous year!

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Macau has definitely been the darling of the gambling industry in the past few months and this has continued this week with Las Vegas Sands Corporation announcing that they will be going back to work on their new gambling resort build in the region as of January 2010. The company needs to raise over $3 billion dollars to fund the venture and $500 million is needed now to re-launch the build. Once the casino build is back underway, it is estimated it will provide around 12,000 jobs in the region.

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Macau has been hitting the headlines a lot recently as it seems to be totally recession-proof! The Asian Vegas has been doing a lot better than its USA original as it has suffered little in the economic downturn. To add to the success of the area, Galaxy Entertainment Group has announced that its flagship casino resort will be opening in the first quarter of 2011. The project had been put on hold previously as accountants and shareholders watched the markets with baited breath. But Macau has proved itself to be a goose that continues to keep laying golden eggs.

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Asia is about to go poker crazy as a new movie has just premiered in Hong Kong that will be sure to take the cinemas by storm. Texas Hold’em Poker, which is already seeing a worldwide increase in players, is sure to get a lot of new fans through the movie release.

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The last twelve months have been difficult for everyone financially, but none more so than the American Casino industry. When times are tough people tend to cut back on luxuries and two of the top luxuries to go are holidays and gambling! 

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