Macau Revenues Dive

MACAU REVENUES DIVE

06th October, 2014 at 06:37:44
Source: http://www.azonlinecasinos.com

For the fourth consecutive month

Beijing's anti-corruption campaign and tough economic conditions continue to have a negative effect on Macau gambling revenues which fell 11.7% in September 2014 compared to the same period 2013.

Although September revenues, in decline for the fourth consecutive month, fell to 25.6 Billion Patacas (US$ 3.21 Billion) from 29 Billion Patacas in September 2013, the results were still ahead of analysts predictions, driving some Macau casino share prices up.

On a positive note, China's annual week-long National Day holidays, which began October 1, 2014, show mainland Chinese visitors to Macau up 14% in the first five days confirmed the Macau Government Tourist Office.

SINGAPORE REMOTE GAMBLING BILL WON'T AFFECT SOCIAL GAMING

Parliamentary debate begins on the Remote Gambling bill Tuesday

Singapore's Media Development Authority (MDA), ahead of the Parliamentary debate on the new Remote Gambling Bill scheduled for tomorrow (Tuesday), said the bill, which outlaws online gambling, will have little or no effect on social gaming.

Key provisions in the bill, which had its first Parliamentary reading on September 8, 2014, include ISP and payment blocking measures, criminalisation of remote gambling, prohibition of remote gambling advertising and promotion and a tightly controlled exemption regime.

A spokesperson from the Authority said they are happy to work with the games industry in clarifying concerns but that the Bill will not impede the development of legitimate social media gaming businesses.

Singapore's games sector is one of the fastest growing in the media sector and comprises over 60 game development, publishing and services companies.

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