Quantcast
Latest Stories

Macau hosts Asia’s largest gaming expo



Gambling machines are displayed at the Global Gaming Expo Asia, a three-day fair of gambling innovations at the glitzy Venetian hotel in Macau on May 21, 2013. The largest gaming event in Asia, showcasing the industry’s latest products, services and technologies, is taking place amid a decline in growth rates in the former Portugese colony’s gaming industry as China’s economic boom slows. AFP / Philippe Lopez

MACAU—Casino industry leaders met in the world’s biggest gambling hub of Macau on Tuesday for the Global Gaming Expo Asia, a three-day fair of gambling innovations at the glitzy Venetian Macau hotel.

The largest gaming event in Asia, showcasing the industry’s latest products, services and technologies, opens to the public on Wednesday with machine companies focusing on Asian content.

The gaming sector has boomed in Asia over the past decade, led by the former Portugese colony of Macau, which now generates more than six times the gambling revenue of Las Vegas thanks mainly to high-rolling Chinese VIPs.

Singapore, the Philippines and Vietnam are also staking their claims to regional market share, with several mega-resorts in the pipeline.

Despite increasing competition from the region, industry leaders remain confident in the gaming future of Macau. Its revenues jumped to a record $38 billion in 2012 even as the pace of growth slipped from the previous year amid a slowdown in China’s economic boom.

“You’ve got tremendous growth here,” said Frank Fahrenkopf, president of the American Gaming Association, which organized the event.

“As new facilities open, more and more people will want to come to see the new facilities… it adds to the dynamism and the attractiveness of Macau,” he said, pointing to a record growth in gaming revenues in March and new casinos opening in the city.

“It depends on the ability of different operators to see who can produce the best product that’s going to appeal to the 60 percent of mainland Chinese who come here, and innovation will determine who the winners are,” he said.

The annual fair, which began in 2007, features a record 130 exhibitors this year who are increasingly modifying their products to appeal to an Asian audience.

“This year the machine companies are taking their Asian content to a new level,” Marcus Prater, executive director of the Association of Gaming Equipment Manufacturers, told AFP.

“Manufacturers have shifted their development to the type of game that appeals to mainland Chinese players,” he said, adding that it was based on feedback from gamers.

Hong Kong-based Richard Huang, a gaming analyst at CLSA brokerage, believes growth for casinos will be limited in the coming years due to slower gains in the VIP segment which accounts for two thirds of the total revenue for Macau’s gaming industry.

“VIP gaming revenue can no longer generate such type of rapid growth, partly because of all the shutdown on corruption that’s happened in China,” Huang told AFP.

The recent Chinese leadership change is “one of the key reasons why” VIP markets are not growing as much as they were 12 to 18 months ago, he added.

“We’re not seeing a collapse in terms of VIP gaming revenue growth. (But) definitely it’s putting a cap on the magnitude of growth in that segment,” said Huang.

The VIP segment in Macau has grown by more than 10 percent this year so far.

CLSA brokerage is expecting around US$43.3 billion in revenues from Macau this year. This would represent a growth rate of approximately 14 percent for 2013, the same as last year, which saw a drop from 2011′s growth rate of 42 percent.

Six firms are licensed to operate casinos in Macau, which has boomed since the city liberalized its gaming industry in 2002 and allowed casino giants such as Las Vegas Sands, Wynn Resorts and MGM to set up shop in the city.

Macau, which was handed back to Beijing in 1999, enjoys freedoms not allowed on the mainland. It is the only place in China where casinos are legal.—Aaron Tam


Follow Us


Follow us on Facebook Follow on Twitter Follow on Twitter


Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: gaming and casinos , Global Gaming Expo Asia , Macau



Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement
Advertisement

News

  • Title of new Hillary Clinton book: ‘Hard Choices’
  • Filipinos, Dutch re-enact crucifixion of Christ
  • 14 killed in car bombing in Homs
  • 57-nation group plays key Ukraine monitoring role
  • French President Hollande’s top aide resigns
  • Sports

  • Nadal ousted by Ferrer in Monte Carlo quarters
  • Pacquiao shorts in Bradley fight sold for P1.7M in LA auction
  • Ryu pitches Dodgers past Giants
  • Alonso sets the pace in Chinese GP practice
  • Heat seek Three-peat but Spurs, Pacers top seeds
  • Lifestyle

  • Levine designs womenswear with help from fiancee
  • Gabriel Garcia Marquez, Nobel laureate, dies at 87
  • Ford Mustang turns 50 atop Empire State Building
  • Pro visual artists, lensmen to judge Pagcor’s photo contest
  • ‘Labahita a la bacalao’
  • Entertainment

  • EXO postpones release of mini album ‘Overdose’
  • ‘X-men’ filmmaker slams ‘fabricated’ sex attack claims
  • Singer Chris Brown’s bodyguard on trial in DC
  • Whoopi Goldberg debuts as marijuana columnist
  • ‘X-men’ director accused of sex assault on teen boy
  • Business

  • Italy sells luxury state cars on eBay
  • Asian shares mostly up in quiet trade
  • Dollar up in Asia on US jobs data, Ukraine deal
  • Barbie doll has a problem
  • Oil prices mixed ahead of long Easter weekend
  • Technology

  • Nasa’s moon-orbiting robot crashes down
  • Netizens pay respects to Gabriel Garcia Marquez
  • Nokia recalls 30,000 chargers for Lumia 2520 tablet
  • Facebook rolls out ‘nearby friends’ feature
  • Netizens seethe over Aquino’s ‘sacrifice’ message
  • Opinion

  • Editorial cartoon, April 17, 2014
  • A humbler Church
  • Deepest darkness
  • ‘Agnihotra’ for Earth’s health
  • It’s the Holy Week, time to think of others
  • Global Nation

  • Filipina accomplice arrested for fake bills in Malaysia
  • DoH denies Filipino nurse no longer positive for MERS virus
  • WHO warns vs spread of MERS-Cov, urges vigilance in taking precautions
  • Last call for nominations to ’14 Presidential Awards
  • San Francisco business coalition slams proposed tax on sugary drinks
  • Marketplace