macau gaming gains continue despite typhoon
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle

Through the city killing at least 10 people

Macau gaming gains continue despite typhoon

Themuslimchronicle, themuslimchronicle

Themuslimchronicle, themuslimchronicleMacau gaming gains continue despite typhoon

Revenues in Macau were hurt by Chinese President Xi Jinping
Macau - Muslimchronicle

Macau on Friday said gaming revenues rose more than 20 percent year-on-year in August, despite the city being hammered by Severe Typhoon Hato, which ripped through the city killing at least 10 people.

The destruction wrought by the typhoon and the government's handling of it prompted the resignation of Macau's weather chief, an apology from the city's leader and the deployment of the People's Liberation Army Macau garrison to help in relief efforts.

Hato plunged the city's gambling resorts into darkness with slot machines and air-conditioning units turned off at some casinos despite backup generators, while some including the Grand Lisboa simply closed after power and water supply was cut.

However, gaming revenues still surged 20.4 percent to 22.68 billion patacas ($2.81 billion) for the month, beating expectations of 18.5 percent in a Bloomberg News survey.

Macau is the only part of China where casino gambling is legal and a favourite haunt of mainland big spenders.

The city was hurt by tumbling revenues after China's President Xi Jinping launched a corruption crackdown in 2012, with many VIPs -- crucial to the casinos' income -- choosing to stay away. 

But annual takings are still three times larger than Las Vegas and have rebounded recently thanks to a resurgent VIP market and a push to woo tourists and mass market gamblers with a slew of new mega resorts.

Two more major openings are expected by 2018. MGM Cotai will include a spa, theatre, and 1,500 hotel rooms, while SJM's Grand Lisboa Palace will feature Versace and Lagerfeld hotels. 

"Macau is back in a big way," Andrew Scott, CEO of Macau-based Inside Asian Gaming magazine told AFP.

"If it weren't for the typhoon, the increase would have been even more," Scott said.

Casinos brought in more than $28 billion in 2016, representing half of the city's gross domestic product.

themuslimchronicle
themuslimchronicle

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

macau gaming gains continue despite typhoon macau gaming gains continue despite typhoon

 



Themuslimchronicle, themuslimchronicle

GMT 08:26 2018 Tuesday ,23 January

Five things to know about Davos

GMT 21:30 2017 Wednesday ,01 November

New York Times’ third-quarter revenue up 6.1%

GMT 11:09 2017 Friday ,24 November

Berlin police seeking more missing John Lennon items

GMT 06:34 2017 Saturday ,09 December

Rockets down Jazz for eighth straight NBA win

GMT 23:25 2017 Thursday ,16 February

Pakistan adds 16 new fighter jets to its fleet

GMT 10:50 2018 Tuesday ,23 January

Saudi university to open driving school for women

GMT 03:31 2017 Saturday ,07 January

Sharjah launches award for refugee support

GMT 21:54 2016 Wednesday ,01 June

December 21 - January 18

GMT 16:05 2017 Monday ,24 April

Sharapova's return divides rivals

GMT 13:50 2012 Sunday ,22 January

Egyptians can now remove any regime

GMT 07:26 2017 Sunday ,23 July

70 villagers kidnapped in Afghanistan
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
 
 Themuslimchronicle Facebook,themuslimchronicle facebook  Themuslimchronicle Twitter,themuslimchronicle twitter Themuslimchronicle Rss,themuslimchronicle rss  Themuslimchronicle Youtube,themuslimchronicle youtube  Themuslimchronicle Youtube,themuslimchronicle youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

muslimchronicle muslimchronicle muslimchronicle muslimchronicle
themuslimchronicle themuslimchronicle themuslimchronicle
themuslimchronicle
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
themuslimchronicle, themuslimchronicle, themuslimchronicle