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Tuesday, September 25, 2018

Casino – CalvinAyre.com
Macau 2018 growth forecast at 5.8%

The Macau economy is expected to grow 5.8% for this year, followed by 3.9% growth in 2019, according to a report by the Economist Intelligence Unit (EIU).

Macau 2018 growth forecast at 5.8%News outlet The Macau Hub reported on the EIU’s forecast that the special administrative region’s growth in gross domestic product (GDP) will continue to be fueled by the gaming sector, which itself has seen below-expected gross gaming revenue (GGR) the past year.

Macau’s Statistics and Census Service (DSEC) had previously released data for the first half of the year, showing 7.6% GDP growth year on year.

The EIU said that the Macau government’s attempts at diversifying the economy outside of gambling would remain largely unsuccessful. However, according to the EIU, the government should continue working to grow its non-gambling tourism activities to boost the entertainment sector.

With Typhoon Mangkhut hitting the city the other weekend, several analysts had adjusted their GGR forecasts for the quarter. The overall effect on the economy, however, is seen to be negligible.

The EIU expects a slowdown in mainland China’s economy will affect Macau; however, this will be offset somewhat by increased incomes to be spent by visitors from China.

Chinese tourists remain the hugest population among those visiting Macau, with 2.53 million Chinese visiting last August, a 25.3% increase from August last year. A total of 3.4 million people visited in August, a 18.7% increase year on year.

Macau’s strong 2017 performance, much on account of growth in the VIP gaming business, was preceded by three years of contraction owing in part to the Chinese government’s anti-corruption drive where it cracked down on outflows to Macau.

According to the EIU, inflation for 2018 is expected to hold at 2.9%, lowering to 2.8% the following year. The budget balance will be at 10.3% for 2018, and 9.4% in 2019. The unemployment rate is projected to stay at 1.9% for the two years.

The post Macau 2018 growth forecast at 5.8% appeared first on CalvinAyre.com.

World Casino News
Steroids scandal rocks Japanese horseracing industry

The horseracing authority for the northern Japanese province of Iwate was reportedly forced to suspend all contests for one day last week after several of the competing animals tested positive for a banned anabolic steroid. Horses tested positive for boldenone: According to a report from Asia Gaming Brief, the Iwate Prefectural Horse Racing Association first […]
Casino News Daily
Biggest WSOP Europe Main Event Winners

The WSOP Europe festival is two weeks away and every self-respecting fan of live tournament poker has already braced for quality poker action and immense thrill. The 2018 edition of the major series is set to take place at King’s Casino in Rozvadov, Czech Republic, one of Europe’s best and most popular poker destinations.

The WSOP Europe has 10 gold bracelets up for grabs and it is to be seen who the lucky ten players to capture the pieces of jewelry will be. Of course, the €10,350 Main Event is the most highly anticipated tournament. The event is slated to kick off on October 27 and to run through November 2. Aside from the Main Event gold bracelet for the winner it will also feature a guaranteed prize pool of €5 million. Hopes are that the guarantee will be crushed and that the tournament will see great interest among players from all around Europe and all other corners of the world.

Elio Fox – €1.4 Million

In 2011, US poker player Elio Fox emerged as the winner of the largest ever WSOP Europe Main Event. He topped a field of 593 entries to be awarded the amount of €1.4 million. The tournament took place in Cannes. England’s Chris Moorman was Fox’s heads-up opponent. The moment of victory came for the latter after his [Ad][10s] bested his final opponent’s [Ah][7s].

It is also important to note that Fox has remained quite consistent in his pursuit of poker prestige in the years after his WSOPE Main Event victory. Most recently, the poker professional finished runner-up in this year’s WSOP $100,000 High Roller event for a cash prize of $1,798,658 and took down the Seminole Hard Rock Poker Open $50,000 buy-in Super High Roller for $500,000.

Marti Roca De Torres – €1,115,207

Spain’s Torres came as the winner of the 2017 WSOP Europe Main Event. That was the first edition of the tournament after a two-year hiatus of the European series. The player was the last man standing from a field of 529 entrants. He collected the amount of €1,115,207. Torres faced heads-up one of Italy’s most promising poker players – Gianluca Speranza. On what turned out to be the final hand in the Main Event, Torres beat his opponent with [Qh][5d].

Torres has cashed in several tournaments since last fall when he became the WSOP Europe Main Event, but has not taken down any major event since then.

The 2017 edition of the WSOP Europe took place at King’s Casino in Rozvadov, the venue that has now turned into a permanent home of the major tournament series.

Annette Obrestad – £1,000,000 (approximately €1.1 million)

The Norwegian poker pro became the winner of the first-ever WSOP Europe Main Event and has so far been the only female player to take it down. She outwitted a 362-strong field to collect £1 million in prize money. It is also important to note that at the age of 18, she was the youngest player to ever win a gold bracelet from the WSOP.

John Tabatabai from Wales was Obrestad’s final opponent on her road to victory. The two players’ final clash saw the Norwegian player’s pocket sevens hold up against Tabatabai’s [5s][6d].

The inaugural WSOP Europe Main Event took place in London. In fact, the first four editions of the series were all hosted by the capital of the United Kingdom.

Phil Hellmuth – €1,058,403

Hellmuth has long held the record for the most WSOP gold bracelets ever won. He captured his 13th ever piece of WSOP jewelry in 2012 when he topped the 420-person field of the WSOP Europe Main Event. His share of the prize pool totaled €1,058,403.

The tournament took place in Cannes where Hellmuth remained one of the two players to participate in the heads-up match. Ukraine’s Sergii Baranov was the other one. However, it was not meant to be for the Ukrainian as his [As][4c] sent him to the rail in second place after clashing against Hellmuth’s [Ah][10d]. The US player thus further cemented his reputation of a tournament poker legend. It should also be noted that Hellmuth is one of the few players to have won the WSOP Main Event in Las Vegas and the WSOP Europe Main Event.

Adrian Mateos – €1,000,000

Mateos is one of the most popular poker pros of the younger generation of players. At the age of 24, the Spaniard boasts three WSOP gold bracelets and an EPT Grand Final title. Mateos won one of his pieces of WSOP gold for taking down the WSOP Europe Main Event.

He became a WSOPE Main Event champion in 2013, when the tournament was held in France. The player beat a field of 375. Local player Fabrice Soulier was his heads-up opponent. The final hand of the tournament saw Mateos collect all his opponent’s chips with [Ad][Kc] to Soulier’s [9d][8d].

The post Biggest WSOP Europe Main Event Winners appeared first on Casino News Daily.

Casino – CalvinAyre.com
Traders call out Melco Philippines over ‘unfair’ tender offer price

The share price offered by the operator of City of Dreams Manila to its shareholders prior to being delisted from the Philippine Stock Exchange (PSE) has been criticized by analysts as too low, local news outlet BusinessWorld reported.

Melco Philippines tender offer price ‘unfair’ – analystsMelco Resorts and Entertainment (Philippines) Corporation, in its petition for voluntary delisting, had set a tender offer price of PHP7.25 ($0.13) per share for about 1.57 billion shares, constituting about 27% of the company.

This price, as calculated by independent financial adviser FTI Consulting Philippines, Inc. (FTI CPI), is higher than the stock’s price of PHP6.21 ($0.12) as of September 7. Furthermore, the volume weighted average price of the stock was calculated at PHP7.32 ($0.14) over a one-year period, and PHP6.52 ($0.12) over six months.

Even so, the price is half of its initial public offering (IPO) price of PHP14 ($0.26) back in 2013.

Jervin De Celis, a trader at Timson Securities, Inc., said, “[W]hat makes the tender offer unfair is that their follow on offer price was at P14 five years ago and [Melco Philippines] was not even earning that time. Now that they’re starting to earn, they’re buying back the shares at almost half the price below the IPO price.”

Another trader, Aniceto Pangan from Diversified Securities, Inc., saw the tender offer as disadvantageous to long-term investors who had held on to the stock the past five years.

“It’s unfair for those investors who were offered a higher price during their IPO and follow on offering, considering they stayed on and saw more of a long term investment… [T]hey are the ones who will lose money here,” Pangan said.

Piper Chaucer Tan, research associate for Philstocks Financial, Inc., meanwhile, noted that upon Melco’s delisting, it would be much harder to sell the shares for a better price. “If you don’t [accept the tender offer], you don’t have a reference price and [Melco Philippines] will determine the price per share of your stock position… [T]hey can value it below the tender offer price,” he added.

In order for the delisting to proceed, majority shareholder MCO (Philippines) Investments Limited, which already holds 73% of outstanding shares, would need to raise its stake to 95%, through the tender offer conducted from October 3 to 30. The delisting is planned to take effect on November 13.

Parent company, Hong Kong-based Melco International Development Limited, has said that the delisting would allow MCO “to consolidate its interests in [Melco Philippines] to better support and facilitate [Melco Philippines’] future business plans.”

In its tender offer report for Melco Philippines, FTI CPI cited “unpredictable” casino and gaming policies of the current Philippine administration as a concern in holding gambling-related investments in the country.

Melco International has signified its prioritizing of Japan among its “near to mid-term” plans, with the third-largest economy having passed legislation for the setting up of three large-scale integrated resorts in the years to come.

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Monday, September 24, 2018

World Casino News
Chinese crackdown hurts bottom line at Crown Perth

Australian casino operator, Crown Resorts Limited, has reportedly revealed that gross gaming revenues at its Crown Perth property for the twelve months to the end of June fell by almost 10% year-on-year to stand at approximately $409.51 million. Baccarat revenues tumble: According to a Sunday report from The West Australian newspaper citing information made public by […]