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Macau gaming revenue rises 21%

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The gaming revenue of Macau has increased by 21% during the first quarter of 2018, brokerage Bernstein estimates.

Macau has witnessed a strong performance in the gaming industry so far. According to brokerage Bernstein (in an analysis prior to operators’ results), the extended good performance in both VIP and mass led to a 21% growth in gross gaming revenue (GGR) during said period in one of the largest gaming markets in the world.

Brokerage analysts pointed out that the VIP segment had a stronger performance than mass once again after rising 26% year-on-year. However, they also cautioned that the results for the first quarter may not be as positive and could slow down during the rest of the year.

 “The resilient strength in VIP has continued to surprise, but we are expecting a material deceleration in VIP growth as we move further into 2018,” analysts wrote.

Furthermore, Bernstein analysts assessed that EBITDA (for the whole Macau gaming industry) will probably be up 21 per cent year on year. That being said, Bernstein says it expects Wynn to show the highest year-on-year EBITDA, with Galaxy coming in second place.

Source: AGBrief


Source: European Gaming Media and Events

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Macau Legislative Assembly passed new gaming bill

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Macau’s Legislative Assembly has approved a draft bill banning local casino workers from entering Macau casinos outside of working hours.

The bill, which will now head to committee for further deliberations and refining of policy details, is aimed at curbing problem gambling among casino employees. It was revealed by the Deputy Director of Macau’s Social Affairs Bureau, Hoi Wa Pou, earlier this year that around 30% of all individuals who ask for assistance in dealing with a gambling problem work in the casino industry.

Initially only barring gaming tables and machine workers, the proposed ban added workers who perform functions less directly connected to gaming such as in the cashier’s offices, public relations areas, restoration, cleaning and security in casinos.

According to the DICJ director, Paulo Martins Chan, the scope of the ban was increased after the gaming industry was consulted.

The only exception would be for the first three days of the Lunar New Year and in situations justified for entry to the casinos, such as training or associative activities.

The proposed regulations also establish a possible fine of between MOP1,000 (US$125) and MOP10,000 for workers caught infringing the law.


Source: European Gaming Media Latest News

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Russia’s first master’s degree programme in cryptography launched

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Russia’s first master’s degree programme in cryptography launchedReading Time: 1 minute

Russia’s  Novosibirsk State University will start the specialized master’s degree programme in the field of cryptography. The teaching will be carried out in English. Students will study all aspects of blockchain technology, as well as encryption techniques.

The Univesristy’s press-office already announced the enrollment of 15 students for a two-years “Master in Cryptography” master’s degree programme.

“The main goal [of this programme] is to attract bright students from all over the world and give them the profound theoretical and practical knowledge in all the aspects of contemporary cryptography for the purpose of their further involvement in research and development activity in this field,” – stated the announcement posted on the university’s official website.

The program begins in September this year.


Source: European Gaming Media Latest News

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South Africa gambling operators react to new casino bill

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South Africa gambling operators react to new casino billReading Time: 2 minutes

South African legislators are about to relocate the country’s casinos to Trade Bay, much to the sadness of many local gambling operators.

The move was opposed by the local gambling operators, which would be an enactment of the Western Cape Nineteenth Gambling and Racing Amendment Bill, 2018, and this would lead to a serious downfal in revenue as jobs as well.

The bill was intended to amend the existing Western Cape Gambling and Racing Act, 1996 (Act 4 of 1996), giving the Western Cape government the authority to compel existing casinos in five district municipal regions of the province to transfer to other areas.

While the bill has yet to be tabled before the legislative committee, South Africa-based casino operators like Sun International and Tsogo Sun Holdings Ltd. have expressed mixed opinions over the possible impact of the proposed bill to their operations.

Tsogo Sun CEO Jacques Booysen said the company would support the proposed relocations of casinos in Western Cape, as long as it “is done in a manner that makes commercial sense” for them.

South Africa’s biggest hotel and casino operator had been under pressure lately to temper its mounting debt by putting the brakes on acquisitions and business expansion. Tsogo Sun also reduced its spending in the most previous fiscal year by 8%, dropping it down to $261.5 million.

Tsogo Sun planned to submit its comments on the proposed bill before July 31 after seeing the draft legislation, according to Booysen.

Sun International, which operates the GrandWest Casino, was up in arms over the proposed relocation of their competitors, saying it might lead to lower profits and more layoffs in the future. The company’s chief executive, Anthony Leeming, estimated that GrandWest could see a gross gambling revenue decline of 24 percent while “headcount” will drop by 15 to 20 percent.

“The majority of job losses will be from the casino, but a drop in footfall will result in additional and similar job losses in the supporting… operations at GrandWest, as many of these businesses are entirely dependent on footfall generated by the casino,” Leeming said, according to the news outlet.

 

Source: CalvinAyre.com


Source: European Gaming Media Latest News

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