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CR78-p14-Asia&Oceania:SJC-Casino Review 22/3/09 01:03 Page 1
Slots account for $2.6bn outside of Crown
Slot players in the state of Victoria spent $2.6bn in pubs and
clubs last year but the State Government wants to this to
achieve tax collections of $4.3bn in poker machine taxes over
the next four years. It is planning to do this by breaking up
the Tatts/Tabcorp duopoly and allowing pubs and clubs to
apply for individual 10-year slot licences from early next year.
Outside Crown casino in Melbourne, Skyways Taverner hotel
is the most profitable venue bringing in A$19m a year from
its 100 gaming machines.
Macau’s negative growth
casinos set
could be double digit
to create
5,000 jobs
Executives behind the
Cagayan Freeport and
Special Economic Zone in
the Philippines hope that
the development of three
casinos following the inau-
guration of the interna-
tional airport in Santa Ana
will bring an extra 5,000
jobs to the overall project.
Thousands of Filipinos
have so far been employed
at the Cagayan Special Eco-
nomic Zone and Freeport,
With work stopping on casino construction sites and some of the most profitable tables as the new economic hub
on the planet suffering from a downturn in play, concern has been growing in some
in northeast Luzon contin-
quarters that Macau might have peaked. Not so comes the collective no from analysts
ued to attract fresh invest-
ments and international
and Macau executives alike. The gaming hub remains a sure long-term bet. tourists.
Cagayan Economic Zone
Authority (Ceza) spokesman
doubledown “According to preliminary data, in regions in the world where there His take on the economy was that it Chris Valenzona said that
CHINA the first two months of 2009 the situa- are casinos,” he said. was ‘generally healthy.’ Jonathan Galaviz, one major American firm
tion worsened compared to the fourth Macau’s gaming revenues fell dras- an analyst with Globalysis based in Las and two Chinese companies
A tougher stance on visa restrictions quarter of 2008, with negative growth tically over the second half of 2008, Vegas, said any slowdown in the growth have expressed interest in
and the general global downturn of over 7 percent, possibly reaching but the region’s casinos still brought of the general economy would prove developing casinos in the
have seen the once invincible gaming double digits,” Tam said in a statement in a total of US$13.5bn for the year, temporary and would be in line with zone but that so far negotia-
revenues of Macau dip. They’re going issued by the Macau Government representing a 31 per cent increase the Asian economy as a whole. tions concerning the levels
to dip further throughout 2009 but Information Bureau. year-on-year, compared to growth of Glenn McCartney, a tourism aca- of investment have still to
analysts and government figures Revenue from casinos dropped by 46 per cent in 2007. demic at Macau University, said he be concluded. The develop-
remain optimistic regarding the long 16 per cent in the first two months of The former Portuguese colony has remained very confident about Macau ment of the airport will be
term future. 2009, compared to the same period in a population of just 550,000 but still and that the market was not anywhere central to the casino plans.
Francis Tam Pak Yuen, the Macau 2008, although it still came in at the generates higher GGR than the totals near maturity level yet. He said that The introduction of
Secretary of State for the Economy 8bn-pataca (US$1bn) level. Tam said of Las Vegas and Atlantic City com- Macau officials should be looking at land-based casino gaming
and Finance, said that the gambling there was ‘enough room for Macau’s bined. Zeng Zhonglu, a professor in what changes they could make to inside the zone, alongside
enclave experienced strong negative six casino operators.’ gaming economies at Macau Polytech- attract more visitors from the main- the existing on-line
growth in the first half of 2009 with “The drop in gaming revenues is nic Institute, said that the 40 plus per land. But with casinos set for Singa- casinos, is expected to
growth rate in 2008 at 13 per cent, in-line with what was expected and cent growth that Macau was growing pore and Taiwan the market place in further bolster the tourism
dipping to seven percent negative the situation will remain satisfac- used to was unsustainable and that Macau is set to see more competition activity in the region,
growth in the fourth quarter of 2008. tory, when compared to other the slowdown should be expected. than ever before. according to Valenzona.
Adelson slams Ho’s call against foreign capital
heaveho the subsequent loss of some dong province can visit. has moved to quash claims
CHINA 10,000 construction jobs. The Adelson claims any anti- that it could even be about to
speech has been slammed as American feeling could cause sell its gambling licence in
A war of words has erupted in ‘anti-American’ by the Venet- a backlash against US owned Macau. The Ming Pao Daily, a
Macau following local gaming ian’s owner, Las Vegas Sands casinos in Macau. Chinese-language newspa-
magnate Stanley Ho’s affir- boss Sheldon Adelson, who One local newspaper com- per claimed that two unidenti-
mation that the Macanese claims Ho’s comments could mented : “If Ho is trying to stir fied sources had lent their
should ‘unite against’ the further damage revenues. up nationalist feelings to help weight to rumours that a
Venetian Macao Resort Hotel. Sands has been accused steer business from his rivals, Chinese tycoon is interested
Ho said in a speech in mid of delaying expansion on the it is unclear how much in taking over Las Vegas
February: “We are Chinese. Cotai Strip to concentrate on support, if any, he has in higher Sands’ operations in Macau.
We should unite against building the Marina Bay Sands political circles. While he is a Adelson is in talks with four
foreign capital. We cannot in Singapore instead. member of a top mainland groups of investors and two
keep silent. If not, the foreign Las Vegas Sands claimed Chinese political consultative construction companies who
capital will bully us.” 70 per cent of its $4.4bn body, it was with Beijing’s may invest, but the company
His comments followed a revenue last year from its cial relief. Its earnings in restrictions imposed by the blessing that the Macau gov- has stressed that having
decision to suspend an exten- operations in Macau and the Macau have been affected not Chinese government which ernment broke his monopoly worked so hard to secure the
sion at the Venetian by its company remains reliant on by the slow down in the global have restricted how frequent on gambling in Macau earlier licence it would be about to
owner Las Vegas Sands and Macau to provide some finan- economy but more the travel mainlanders from the Guang- this decade. Las Vegas Sands give it up.
14 April 2009 • asia&oceanianews
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