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Macau still worth a gamble: analysts16 March 2009MACAU -- As reported by the Agence France Presse: "Half-finished casinos and dropping revenues have fueled fears that Macau's staggering growth has faltered, but analysts insist the gaming haven remains a sure long-term bet. "...some analysts are adamant fears about Macau's demise are premature. "...Jonathan Galaviz, an analyst with Las Vegas-based consultancy Globalysis, said any disruption to economic growth will be temporary with Macau's performance short-term expected to fluctuate along with the Asian economy. "While gaming revenues dipped sharply over the second half of 2008, the city still raked in a total of 13.5 billion US dollars for the year, a 31 percent increase year-on-year. Revenues rose 46 percent in 2007. "...it is in the hidden world of the VIP gaming rooms where the city has suffered..." "...VIP revenues have played a central role in the success of Macau's economy with top casinos tussling with each other to attract high-rollers..." |