GAMING REVENUE FALLS ON FEWER TOURISTS scmp.com
A drop in tourist numbers affected Macau’s casino revenue in the second quarter. Casino revenue fell by 2.3% quarter on quarter to MOP 25.4 billion, according to the Macau Gaming Inspection and Co-ordination Bureau Website. The year-over-year change was down 12%. Visitor arrivals in May fell 20.4% from 2008 and visitor arrivals for the year to date fell 10.6% from a year earlier.
WYNN RESORTS FILES FOR HK IPO OF MACAU UNIT scmp.com
Las Vegas casino company Wynn Resorts is reported to have submitted an application to list its Macau unit on the Hong Kong exchange. The company hopes to raise between US$500 million and US$1 billion.
Rival operator Las Vegas Sands is preparing an IPO of its own Macau entity which is expected to raise more than US$3 billion. Commentators see this strategy as being primarily aimed at supporting struggling operations in Las Vegas.