Galaxy Macau News

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During a celebration surrounding the opening of the $450 million, 400-room St. Regis hotel, Las Vegas Sands Chairman and CEO Sheldon Adelson said the Macau gaming market will turn around in 2016.

Casino operators have budgeted almost $27 billion on new developments in Macau, despite the fact that Macau gaming regulators are expected to announce this week that November was the region's 18th straight month of revenue declines.

While the company did still turn a profit, it reported a 19.4 percent decline in revenues and a 30.1 percent decline in profits from last quarter.

Wynn Resorts stock on Monday closed below $100 per share for the first time since December 2010 after Macau reported its 12th straight monthly dip.

150 new gaming tables permitted at Galaxy Macau Phase II which will open this week.

Casinos collected $2.44 billion from gamblers during the month, a drop of 49 percent. A year ago, Macau casinos collected a single-month industry high of $4.8 billion.

The worry is now about 2015 and what effect continued softness in the world’s largest gambling enclave will have on Nevada casino operators.

Even after six consecutive monthly gaming revenue declines, Macau is still not close to hitting bottom.

The bond advisement service predicted zero growth in Macau’s gaming revenue by the time 2014 is concluded, and an overall decline of 1 percent in 2015.

It makes sense that the region — the only location in China with casinos — is creating more gaming industry billionaires than Las Vegas.

Galaxy plans to expand Galaxy Macau, adding two more phases to the casino-resort.

Phase two of Galaxy Macau's resort plan will include 1,300 new hotel rooms and 500 more gaming tables.

Galaxy Entertainment reports healthy profits in 2011.

The industry is focusing on nongaming attractions instead of resort expansion along the Strip for the rest of the decade.

Macau's 34 casino collected more than $30.5 billion in gaming revenues in 2011, surpassing last year's $23.5 billion mark during the third quarter.

Macau's 34 casinos shattered single-month gaming revenue figures in August, collecting $3.09 billion from gamblers.

Casino authorities in Macau said Monday that gaming revenues grew 48.4 percent in July, hitting the $3 billion mark for just the second time.

A Hong Kong newspaper said expiring gaming concessions will lead to "uncertainty awaiting companies who are still considering deploying capital into Macau."