Dow Closes at Record Numbers: Impact on Gaming Sector, Macao
It's a third consecutive day of record numbers as the Dow closed near 13,000 Friday. The question for online gamers: Will this surge pertain to the unstable world of online gaming and land-based gaming stocks (i.e. Macao, Vegas), which in recent weeks have gotten a huge boost from positive news?
In addition to attempts in Congress at having a US anti-gambling law repealed and a WTO decision that favors the Internet gambling sector, there was also this week's announcement that Premier's Rupert Morrell has bought heavily into "overlooked" online gaming stocks.
PartyGaming closed strong Friday. PartyGaming was among the FTSE 250 top 10 rising stocks.
"After a very dark 6 months in the gaming sector, specifically online, we are seeing some great things up ahead"
Among the biggest benefactors is none other than Asian's gambling Mecca of Macao.
Macau-related gaming stocks got a boost this week after the Macau Gaming Inspection and Coordination Bureau reported that first-quarter casino revenues jumped 45% from last year to $2.23 billion. Macau has already surpassed the Las Vegas Strip as the largest gaming market in the world, yet the party is just beginning.
"After a very dark 6 months in the gaming sector, specifically online, we are seeing some great things up ahead," commented Payton O'Brien of *********. "There is now major support in the online gambling community, Vegas and Congress in terms of repealing the new legislation that went into affect this past October while Macao is just exploding on the land-based gambling scene."
"High rollers used to have no other choice but to go to Vegas for all their action," commented Marc Lesnick of Casino Affiliate Convention. "Now they are just heading to Macao, which has so many advantages over Vegas."
Lesnick indicated to ********** that Macao could ultimately become an online gambling haven, something Vegas is unable to do right now as a result of current legislation in the States pushed forward primarily by Arizona Senator Jon Kyl (R)
Macao affiliated stocks are not likely to drop any time soon.
A joint-venture between James Packer's Australia-based Publishing and Broadcasting Limited and Lawrence Ho, son of Macau gaming mogul Stanley Ho -- is set to open the Crown Macau next month. The Crown Macau is being marketed as Macau's first "six-star" hotel. I suppose this would be something like "three thumbs up," as there is no official rating scale that goes past five stars (although Dubai is famous for its seven-star Burj al Arab), but you get the point -- the hotel and casino is meant to attract the very top-end gamblers in the market. The drawback to the site is its relatively isolated location on the northern side of Taipa island, away from casinos on the Macau Peninsula and north of the future Cotai Strip. What this means is that the property is going to have to be that much better than the competition.
Artist depiction of the breath taking Crown Macao
Melco PBL's flagship City of Dreams project is slated for a late 2008 opening, though with a prime position on the Cotai Strip. The company also has a third project planned for a side on the Macau Peninsula.
Macao's pillar gaming industry is seeing a new boom as the gaming receipts witnessed a 43.5-percent year-on-year rise in the first quarter of this year.
Statistics issued by the government-run Gaming Inspection and Coordination Bureau showed Thursday that the gross gaming and betting receipts, comprising casino games, horse and greyhound races and a string of lotteries, stood at 18.06 billion patacas (2.26 billion U.S. dollars) in the quarter.
Casino business alone dedicated 99 percent of the industry's gross receipts between January and March, the figures showed.
The gaming industry's gross receipts saw a increase of 8.6 percent over the fourth quarter of 2006.
It's a third consecutive day of record numbers as the Dow closed near 13,000 Friday. The question for online gamers: Will this surge pertain to the unstable world of online gaming and land-based gaming stocks (i.e. Macao, Vegas), which in recent weeks have gotten a huge boost from positive news?
In addition to attempts in Congress at having a US anti-gambling law repealed and a WTO decision that favors the Internet gambling sector, there was also this week's announcement that Premier's Rupert Morrell has bought heavily into "overlooked" online gaming stocks.
PartyGaming closed strong Friday. PartyGaming was among the FTSE 250 top 10 rising stocks.
"After a very dark 6 months in the gaming sector, specifically online, we are seeing some great things up ahead"
Among the biggest benefactors is none other than Asian's gambling Mecca of Macao.
Macau-related gaming stocks got a boost this week after the Macau Gaming Inspection and Coordination Bureau reported that first-quarter casino revenues jumped 45% from last year to $2.23 billion. Macau has already surpassed the Las Vegas Strip as the largest gaming market in the world, yet the party is just beginning.
"After a very dark 6 months in the gaming sector, specifically online, we are seeing some great things up ahead," commented Payton O'Brien of *********. "There is now major support in the online gambling community, Vegas and Congress in terms of repealing the new legislation that went into affect this past October while Macao is just exploding on the land-based gambling scene."
"High rollers used to have no other choice but to go to Vegas for all their action," commented Marc Lesnick of Casino Affiliate Convention. "Now they are just heading to Macao, which has so many advantages over Vegas."
Lesnick indicated to ********** that Macao could ultimately become an online gambling haven, something Vegas is unable to do right now as a result of current legislation in the States pushed forward primarily by Arizona Senator Jon Kyl (R)
Macao affiliated stocks are not likely to drop any time soon.
A joint-venture between James Packer's Australia-based Publishing and Broadcasting Limited and Lawrence Ho, son of Macau gaming mogul Stanley Ho -- is set to open the Crown Macau next month. The Crown Macau is being marketed as Macau's first "six-star" hotel. I suppose this would be something like "three thumbs up," as there is no official rating scale that goes past five stars (although Dubai is famous for its seven-star Burj al Arab), but you get the point -- the hotel and casino is meant to attract the very top-end gamblers in the market. The drawback to the site is its relatively isolated location on the northern side of Taipa island, away from casinos on the Macau Peninsula and north of the future Cotai Strip. What this means is that the property is going to have to be that much better than the competition.
Artist depiction of the breath taking Crown Macao
Melco PBL's flagship City of Dreams project is slated for a late 2008 opening, though with a prime position on the Cotai Strip. The company also has a third project planned for a side on the Macau Peninsula.
Macao's pillar gaming industry is seeing a new boom as the gaming receipts witnessed a 43.5-percent year-on-year rise in the first quarter of this year.
Statistics issued by the government-run Gaming Inspection and Coordination Bureau showed Thursday that the gross gaming and betting receipts, comprising casino games, horse and greyhound races and a string of lotteries, stood at 18.06 billion patacas (2.26 billion U.S. dollars) in the quarter.
Casino business alone dedicated 99 percent of the industry's gross receipts between January and March, the figures showed.
The gaming industry's gross receipts saw a increase of 8.6 percent over the fourth quarter of 2006.
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