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Posted At : April 18, 2008 04:53 PM | Posted By : Administrator
Related Categories:
Macau,MGM Mirage,James Packer,Stanley Ho,Sheldon Adelson
Casino revenues are up 62% for Q108, bringing in $3.7 billion. That's a lot of patacas, baby. Almost 70% of that was derived from baccarat play, even though slots outnumber tables 3-to-1 in the new gambling capital of the world. Stanley Ho's market share has shrunk to 30%, but that was still enough for him to nab first place over arch-nemesis Sheldon Adelson. Fast-rising Melco was in third, followed by Wynn Resorts, Galaxy and newcomer MGM Mirage, still trying to establish a beachhead.
But why is veteran Galaxy in fifth place? Even so, it managed to post huge increases in revenue and cash flow, despite operating at a loss.
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