Tag Archives: Financial forecast
Philippines – Philippine operators predict rebound in 2016
Mirroring the spectacular nosedive by Macau’s casino sector, decline in the Philippine gaming market has seen share prices for local operators slashed by half. First Metro Investment Corp. (FMIC) believes that tightly aligned to the Macau sector, the Philippine slump is set to continue. In a report, FMIC said: “Listed Philippine casino and hotel operators…
China –Macau’s economy facing falling yuan
Following corruption crackdowns, smoking bans, a struggling economy and visa restrictions, the Macau casino sector is now being threatened by a weaker yuan with one analyst predicting that the unfavourable forex rate could shave another 10 per cent of Macau’s GGR next year. The first half of 2015 has seen Macau’s casino sector almost half…
Philippines – Philippine casino sector to report 20 per cent increase
PAGCOR (The Philippine Amusement and Gaming Corporation) has said that the Philippine casino sector will boom by 20 per cent this year with revenue set to hit US$3bn in 2015. PAGCOR Chairman Cristino Naguiat said: “First-half gaming revenue at the country’s casinos grew 16 per cent to US$1.4bn. The Philippines has a good mix of…
Australia – New casinos to push Australian gaming revenue past A$6bn
Three new casinos will help boost Australian gaming revenue past the A$6bn mark by the end of the decade, according to research company IBISWorld. Crown Resorts is building a A$2bn VIP casino complex at Barangaroo, Aquis, led by businessman Tony Fung, wants to develop the A$8.2bn Great Barrier Reef Resort in Cairns whilst the A$7.5bn…
Philippines – Philippines set for another year of double digit growth
The Philippine casino industry will report significant growth this year in terms of revenues with PAGCOR stating that another year of double-digit growth is on the cards. Benefitting from the opening of City of Dreams Manila, the growth comes despite China’s crackdown on anticorruption and austerity that has affected gaming growth in other nearby regions….
China – Deutsche Bank changes Macau’s VIP growth to decline
Deutsche Bank has downgraded its 2014 and 2015 forecasts for Macau’s GGR, setting lower price targets than it originally anticipated. Deutsche Bank analyst Karen Tang shaved nine per cent off her 2015 gross gaming revenue forecast from 10 per cent down to just one per cent growth. She predicts that the VIP forecast should be…
US – Global tablet gaming to increase three times by 2019
New data from Juniper Research has revealed that by 2019 worldwide revenues from tablet games will reach $13.3bn; a threefold rise on the 2014 figure of $3.6bn. The report highlights that growth will be fuelled by a number of key factors including improved storage capacity of devices, better graphical capabilities, increasing mobile broadband penetration and…
China – Macau to smash the US$100bn mark by 2021
Macau’s gaming revenue will reach US$100bn market by 2021, according to respected industry analyst Andrew Zarnett, Managing Director at Deutsche Bank Securities. Despite a spate of negative headlines recently concerning a slowdown in the economy and crackdowns on cash withdrawal methods, Mr. Zarnett said the seven-year revenue prediction would ‘easily’ be reached, meaning the market’s…
