Macau, the world's largest casino market, raked in $38 billion in annual gambling revenues in 2012 after monthly revenues for December hit a record

UPDATE 2-Macau gambling revenue hits record in December

Wed Jan 2, 2013 2:52am EST


* Revenue for 2012 grows 13.5 percent
* Outlook for 2013 clouded by new regulations
* Special administrative region pushing to diversify
By Farah Master
HONG KONG, Jan 2 (Reuters) - Macau, the world's largest casino market, raked in $38 billion in annual gambling revenues in 2012 after monthly revenues for December hit a record, a signal of sustained strength in the only place in China where visitors are able to legally gamble in casinos.

December's revenue growth of 19.6 percent, which came in ahead of forecasts of 16-18 percent, was boosted by stronger visitation numbers during the holiday season. The monthly figure of 28.25 billion patacas ($3.54 billion) was the strongest ever, according to data from the Macau government released on Wednesday.

Located on China's southern coast, Macau, a special administrative region like neighbouring Hong Kong, had seen gambling revenue growth fall sharply in 2012 due to lower spending by VIP customers who account for 70 percent of total revenues. Annual gambling revenue for 2012 rose 13.5 percent versus 2011 when revenues rose 42.2 percent.
Slower economic growth in China, tighter scrutiny of money transfers and moves to combat the country's entrenched corruption had dampened sentiment last year.
As a result, casino operators, including Las Vegas tycoons Sheldon Adelson and Steve Wynn, who own properties in Macau, saw earnings growth topple from 2011 due to subdued appetite from VIP Chinese gamblers and growing competition from Asian operators such as Galaxy Entertainment Group Ltd.
The stronger-than-expected monthly figure is positive for the market said analysts, but with no new supply set to open in Macau for the next two years, a new anti-smoking regulation that comes into effect in 2013 and tighter scrutiny over the VIP junket market, casino operators are in a more challenging position to boost revenues.
"For 2013 we are still not expecting it to be a fantastic year because the casino properties are already running at full capacity," said Aaron Fischer, head of Asia consumer and gaming research at brokerage CLSA Ltd in Hong Kong.
Higher spending by China's burgeoning middle class has been a key factor in propelling revenue gains in 2012, offsetting a slowdown in VIP growth. Whether volumes in the high end VIP market will stabilise and accelerate further on the back of stronger economic growth is an issue over which analysts remain cautious.
Estimates for 2013 gambling revenue growth range from 5-10 percent with the central government keen to maintain Macau's growth rate at a similar pace to the country's GDP rate, say industry executives.
Authorities are pushing to diversify the gambling-dependent hub with more leisure offerings in the hope of attracting a wider visitor base, including a wedding incentive scheme the Macau government launched in November that grants 300 patacas per local guest for their activities in Macau.
Analysts remain upbeat for Macau's outlook, citing an improving economy in China and infrastructure developments that will shorten the journey from the mainland to macau.

wonder how much the poker pros made

[h=1]Macau: A Succession Saga Fit for a Casino King[/h] By Emily Rauhala / Hong Kong Wednesday, Feb. 02, 2011
<figure class="entry-thumb entry-thumb-m"> <figcaption><small class="entry-thumb-credit">Lam Yu San / AFP /Getty Images</small>Gambling tycoon Stanley Ho with daughter Florinda, left, and his third 'wife' Chan Un-chan, right, during a live television broadcast about the fate of his fortune
</figcaption> </figure> <aside class="post-rail">
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</aside> They call him the 'King of Macau' — and that's no mere flourish. Stanley Ho, an enigmatic billionaire and one-time ballroom dancer, built a multi-billion dollar gambling empire that's shaped almost every part of the former Portuguese colony on China's southern coast. He's weathered invasion by foreign competitors, forged alliances with the political elite, and fathered an impressive number of heirs — 17, by four women.

But Ho's outsized reign may well be over. Now 89 and wheelchair-bound, he is caught in a most kingly conundrum: a battle over the fate of his estimated $3.1 billion fortune. Last week, it emerged that one faction of his family had wrested control of the bulk of his gambling holdings. They say they had permission — a claim he's alternately confirmed and denied. The case has since seen more twists than a tawdry soap, each tracked with relish by the press in Hong Kong, where Ho lives. Photographers have decamped to the family's estates and everybody, it seems, is speculating about their living arrangements. "Ho the daddy of them all when it comes to his hectic love life," read one local newspaper headline. (Read about Macau's casino boom.)
While the octogenarian's sex life is a private matter, the family's fractious squabbling is worthy of scrutiny. Ho is one of a handful of moguls that have dominated business and, arguably, politics, in Macau and Hong Kong for decades. Their families have enjoyed near monopolies in retail, property and, in Ho's case, gambling. Now they're growing old.
Like many of his peers, Ho built his kingdom during the colonial era. Born in British Hong Kong to a prominent, but ultimately penniless, Eurasian family, he fled to Macau during the Second World War, cut his teeth working for an import-export firm and married a legendary beauty with ties to the Portuguese colony's ruling elite. In 1961, he won monopoly rights to all forms of gambling in the city. The next year, he took a second wife. (Polygamy was legal at the time.)
Both Ho's holdings and his family have grown considerably since. Today Macau is the world's biggest gambling market, generating some $23.5 billion last year — about four times more than Las Vegas. Ho and his clan saw the lion's share of that money. Though American gaming giants entered the market after Ho lost his monopoly in 2001, the tycoon still controls the majority of the city's casinos, as well as the airport, the ferries and the helicopter service that flies in the high rollers. Sometimes called Macau's 'underground governor,' Ho once controlled more than half of its economy and the family business, STDM, is still the city's biggest commercial employer. Two children from his second wife, Pansy and Lawrence, are also involved in gaming. Pansy owns a 50% stake in MGM Macau, and Lawrence runs Melco Crown Entertainment. (Watch a video about the popularity of poker in Macau.)
In neighboring Hong Kong, Ho also has deep ties to the territory's unelected government and its high-flying tycoons. According to the South China Morning Post, an English-language daily, the billionaire is linked to eight major Hong Kong corporations, key government bodies and an array of public and philanthropic institutions. There are connections to mainland China too. Stanley Ho has been a member of an influential Communist Party committee since 1988. His third and fourth de-facto wives and two of his children are delegates to regional governing bodies.
The family's importance to the region means officials may step in soon to protect investors. On Monday, Hong Kong lawmakers called for a probe into the scandal. "This is not just a family battle," one politician, Chim Pui-chung told the South China Morning Post. Ho is free to divide his wealth, he said, but as chairman of two publicly listed companies, he also has a responsibility to shareholders. Shares in SJM, the Hong Kong listed firm linked to STDM, were down slightly Monday, but the company is holding strong. It appears that, at least in the short-run, it's Ho's reputation, not his business, that's taking the hit.
So why would a savvy operator like Ho let this happen? That's still a mystery. Ho may have been coerced, as he alleged (then denied), or he may simply be getting old, losing touch with the mechanics of empire. Joe Studwell, author of a book on tycoons, Asian Godfathers, says withholding assets is pretty typical of Hong Kong's billionaire patriarchs. "Once they have the equity, his negotiating position within the family unit is based solely on filial piety, or what is normally called 'love,'"he said via email. Ho's situation, of course, is complicated further by the sheer number of family members involved.
And even that excess is relative. One of wealthiest man in 19th century Indonesia, sugar magnate Oei Tiong Ham, had 18 official concubines and 50 acknowledged children. That clan "ended up broke," Studwell says. "But quite possibly happier."

its fun being a billionaire eh?


This guy is a "ho" with 18 concubines@)

-murph

Macau casinos are the best!

guys'a boss..prolly all kinda ties to triads..lol

Vegas should be envious....

mrwho said:

guys'a boss..prolly all kinda ties to triads..lol

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He would have to in the same way Bugsy Siegel had ties to the mob.

mrwho said:

guys'a boss..prolly all kinda ties to triads..lol

Click to expand...

He's the king of macau

Elsewhere....

MGM Ho Tram (Vietnam) grand opening this lunar new year.

The commies still have a lot of more works to do if they want to catch up with new gambling hub Singapore.

maxdemo said:

He's the king of macau

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Max whats your thought here - I bought some of this in Aug when it was around $11.50...hang on or bail, I see its trading at 17.36 today

Hang on

powerz said:

Max whats your thought here - I bought some of this in Aug when it was around $11.50...hang on or bail, I see its trading at 17.36 today

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that's what I think ....jmo:toast:

Ilovetobet said:

Hang on

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+1

quantumleap said:

He would have to in the same way Bugsy Siegel had ties to the mob.

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here's from his wiki
Ho was also named by the Canadian Government, citing the Manila Standard newspaper, as having a link to the Kung Lok Triad (Chinese mafia) and as being linked to 'several illegal activities'.[SUP][4][/SUP] during the period 1999–2002. Ho's ties to Chinese organized crime have also been reported by the New Jersey Division of Gaming Enforcement, citing a U.S. Senate committee and several government agencies, when the state investigated his ties to American casino operator MGM Mirage.[SUP][5]
[/SUP]
:machinegu

mrwho said:

here's from his wiki
Ho was also named by the Canadian Government, citing the Manila Standard newspaper, as having a link to the Kung Lok Triad (Chinese mafia) and as being linked to 'several illegal activities'.[SUP][4][/SUP] during the period 1999–2002. Ho's ties to Chinese organized crime have also been reported by the New Jersey Division of Gaming Enforcement, citing a U.S. Senate committee and several government agencies, when the state investigated his ties to American casino operator MGM Mirage.[SUP][5]
[/SUP]
:machinegu

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his son is CEO..Lawrence Ho

[h=2]Background*[/h] Mr. Yau Lung Ho, Lawrence has been the Managing Director of Melco International Development Ltd., since November 2001 and has also been its Chief Executive Officer since March 15, 2006. He serves as Managing Director of Melco Crown Gaming (Macau) Limited. Mr. Ho is responsible for the overall strategic development, management and operations of Melco International Development Ltd. Mr. Ho has been Co-Chairman and Chief Executive Officer of Melco Crown Entertainment Ltd. since March 2003. He serves as President of The Macau Chinese Bank Limited. He served as an Advisor of MelcoLot Limited. He served as President of Value Convergence Holdings Limited (formerly iAsia Technology Limited) from August 2002 to April 30, 2008 and served as its Compliance Officer. Before joining Melco International Development Ltd., and Value Convergence Holdings Limited, Mr. Ho worked at Jardine Fleming in the Asian derivative group, where he was responsible for marketing and structuring of Asian derivative products. He worked in the Credit Risk Management department of Citibank N.A. Mr. Ho has been the Chairman of Melco International Development Ltd since March 15, 2006. He served as Chairman of Mountain China Resorts Holdings Limited (Formerly, Melco China Resorts (Holding) Ltd.) from 2008 to April 8, 2010. He served as the Chairman of Value Convergence Holdings Limited from April 2008 to September 23, 2009. He served as Co-Chairman of Melco Crown Jogos. He serves as Vice Chairman of The Chamber of Hong Kong Listed Companies Limited and The Macau Chinese Bank. Mr. Ho served as Vice Chairman of Value Convergence Holdings Limited from August 2002 to April 30, 2008. He serves as an Executive Director of Melco International Development Ltd. He serves as Director of MCE Finance Limited, Melco PBL Gaming (Macau) Limited and Guangzhou Luhu Golf & Country Club. Mr. Ho served as Non-Executive Director of Value Convergence Holdings Limited from April 2008 to September 23, 2009. He is a Member of The Chinese People's Political Consultative Conference, Science and Technology Council of Macau Special Administrative Region. Mr. Ho has been awarded the 'Directors of the Year Award 2005' presented annually by the Hong Kong Institute of Directors and was elected as one of the "Ten Outstanding Young Persons" by the Junior Chamber of Commerce International Hong Kong in 2006. He graduated with a Bachelor of Arts degree in Commerce from the University of Toronto, Canada.

http://investing.businessweek.com/r...Id=3632895&previousTitle=LAS VEGAS SANDS CORP

Like Father Like Son

[h=2]Annual Compensation*[/h] There is no Annual Compensation data available. [h=2]Stock Options*[/h]

mrwho said:

here's from his wiki
Ho was also named by the Canadian Government, citing the Manila Standard newspaper, as having a link to the Kung Lok Triad (Chinese mafia) and as being linked to 'several illegal activities'.[SUP][4][/SUP] during the period 1999–2002. Ho's ties to Chinese organized crime have also been reported by the New Jersey Division of Gaming Enforcement, citing a U.S. Senate committee and several government agencies, when the state investigated his ties to American casino operator MGM Mirage.[SUP][5]
[/SUP]
:machinegu

Click to expand...

Makes Sense , Triad get there piece