Daily news

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    The Chinese resort of Macau has been hit by further losses during the month of July, with gambling revenue down 34.5% on a year-on-year basis.

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    Casino operator Wynn Resorts has cited the disappointing performance of its Macau business as the main reason behind widespread year-on-year losses across key financials during the three months through to June 30.

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    Gambling revenue in the Chinese resort of Macau fell to a five-year low in June, extending a decline in the market to a 13th consecutive month.

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    The Chinese gaming resort of Macau has suffered an 11th consecutive monthly fall in gambling revenue.

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    Macau’s gambling market in February posted a 48.6% year-on-year drop in revenue, the worst drop on record for the Chinese gaming resort.

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    Casino operator Melco Crown Entertainment has applied to delist from the Hong Kong Stock Exchange due to limited fundraising opportunities and issues related to compliance obligations and cost.

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    Australian entertainment group Crown Resorts has cited the success of its operations in the Chinese gambling resort of Macau as one of the main reasons behind a significant growth in net profit during the 12 months through to June 30, 2014.

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    Hotels and casino firm Wynn Resorts has cited the success of its business in Macau as the main reason behind a year-on-year jump in revenue during the year ended December 31, 2013.

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    Macau experienced its slowest month-on-month gaming revenue growth in 15 months during January 2014, but officials remain hopeful of a stronger performance in February.

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    The Chinese gambling resort of Macau posted gambling revenue of $45 billion (€32.8 billion) for 2013, an increase of 18.6% on the previous year.

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    The Chinese gambling resort of Macau has posted its second-highest ever monthly gaming revenue total by generating $3.8 billion (€2.9 billion) during August – an 18% increase on the same month last year.

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    Macau-based Melco International Development has agreed a $700 million (€530 million) deal to build a new casino resort in the Primorsky Krai territory of far eastern Russia.

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    Macau’s casino industry generated $3.8 billion in revenue during August – the second best single month ever recorded by the industry.

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    Philippine billionaire Enrique Razon has indicated that he would like to expand his gambling industry interests.

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