coilman
coilman
Joined: Jan 29, 2012
  • Threads: 121
  • Posts: 948
EvenBob
EvenBob
Joined: Jul 18, 2010
  • Threads: 402
  • Posts: 19868
March 16th, 2015 at 2:24:34 PM permalink
"More than 80% of government revenue comes directly from the casinos"

China is so dependent on the money from
Macao, yet they do everything possible to
cut it off. Crackdown on corruption and
scare people away, ban smoking in a country
where almost everybody smokes, make
visa's hard to get. It's almost like they don't
have a clue.
"It's not enough to succeed, your friends must fail." Gore Vidal
Frogger
Frogger
Joined: Jun 26, 2013
  • Threads: 14
  • Posts: 163
March 16th, 2015 at 2:45:00 PM permalink
Quote: EvenBob

"More than 80% of government revenue comes directly from the casinos"

China is so dependent on the money from
Macao, yet they do everything possible to
cut it off. Crackdown on corruption and
scare people away, ban smoking in a country
where almost everybody smokes, make
visa's hard to get. It's almost like they don't
have a clue.



No, the amount that Macao contributes to China's GDP is a piddling. Nothing would happen to China if Macao went belly up and all the casinos closed
andysif
andysif
Joined: Aug 8, 2011
  • Threads: 22
  • Posts: 423
March 16th, 2015 at 6:23:35 PM permalink
Quote: Frogger

No, the amount that Macao contributes to China's GDP is a piddling. Nothing would happen to China if Macao went belly up and all the casinos closed


Correct. Macao depends on gambling, but China does not depend on Macao.
However, the corrupt officials of the CCP indeed depend on Macao for entertainment and money laundering.
MrV
MrV
Joined: Feb 13, 2010
  • Threads: 265
  • Posts: 5435
March 16th, 2015 at 7:01:57 PM permalink
Wow, the average bet at baccarat in Macao is $250.

How things have changed since millions starved under Mao's Great Leap Forward.
"What, me worry?"
Deck007
Deck007
Joined: Mar 3, 2014
  • Threads: 21
  • Posts: 344
March 16th, 2015 at 7:21:55 PM permalink
You aren't seeing anything yet.
You have to watch out for the 6 $3b projects under construction.
2 will be completed this year. The others we shall see.
It may turn out to be Vegas again during the recession in 2008.
Unfinished construction left rotting and companies like Byod and others going bust.
NokTang
NokTang
Joined: Aug 15, 2011
  • Threads: 52
  • Posts: 1028
March 17th, 2015 at 7:43:33 PM permalink
Quote: Deck007

You aren't seeing anything yet.
You have to watch out for the 6 $3b projects under construction.
2 will be completed this year. The others we shall see.
It may turn out to be Vegas again during the recession in 2008.
Unfinished construction left rotting and companies like Byod and others going bust.



Sands Las Vegas and Wynn both have projects under construction in Macao. They must know something. I doubt either is going bust.
MrV
MrV
Joined: Feb 13, 2010
  • Threads: 265
  • Posts: 5435
March 17th, 2015 at 7:45:54 PM permalink
Timing is everything.

Think: "City Center."
"What, me worry?"
Deck007
Deck007
Joined: Mar 3, 2014
  • Threads: 21
  • Posts: 344
March 24th, 2015 at 9:54:45 AM permalink
Quote: NokTang

Sands Las Vegas and Wynn both have projects under construction in Macao. They must know something. I doubt either is going bust.



The present building programs started a couple of years back. They couldn't build fast enough. Nobody saw what Xi was about to unleash.

Oh yes, Sands nearly when bust in the 2007 downturn if he had not a few $B of his own money.
DMSCR
DMSCR
Joined: Apr 15, 2012
  • Threads: 5
  • Posts: 773
April 7th, 2015 at 1:18:04 PM permalink
Quote: coilman

http://money.cnn.com/2015/03/16/news/economy/macau-gambling-gdp-revenue/index.html



Typical CNN bad reporting. That $250 average bet is NOT in USD but in HKD. That comes out to around $30 USD. Not everything is revolved around the USD as it is going to lose its world reserve currency one day in the future.

As usual EvenBob got it wrong once again. China as a whole does not depend on the revenue of Macau. The local government does. Oh dear. Maybe you were the one who wrote that crappy CNN article.
YES TO 6/5 BJ AND CSM! SAY NO TO 3/2!!!! 6/5 HAS THE BEST PAYOUTS!!!!!

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