article is adapted from here.
1 – Read through the article and test your flexibility by thinking of as many possible “filllers”. In some cases many are possible, in some only a few, in some only one.
2 – When you’ve finished, make a note of gambling topic-related, business topic-related and general expressions you like.
Macau Is ‘Vegas On Steroids’
Kenneth Rapoza , Contributor
Las Vegas will always be Las Vegas. There’s no place in the world like it. But for people who love the bling and the sin of a casino city, Vegas is a has-been. On a truly global stage, the casino money is flowing to one place and that’s Macau in China. Billions in fact. Macau is now officially Las Vegas on steroids.
On Thursday, Macau Gaming Inspection and Coordination Bureau released 1) _________ data for the month. For July, up 20% from June to MOP$29.5 billion (about $3.5 billion) and up 15% year to 2)___ to MOP$200.9 billion ($25.5 billion).
China’s weaker than expected economy has kept away some of the mainland’s high rollers who tend to 3)_____ six figures a pop during a night out on the island. But overall economic weakness has failed to slow tourist traffic to Macau. Macau is weathering the slowdown as well as analysts expected. Market consensus was for July revenue growth to 4)______ in between 18% and 21%.
“The Best Casino Market On Earth”
Sales per square foot of retail space in Macau are better than anywhere in Vegas. The 5)___ goes for table game performance. Ader gave me an estimate for the industry: between 10 to 20 times more than Vegas’ daily table revenue.
Eight years ago, casino giants like the Sands, Wynn and MGM were spending billions on new properties. Once they were done, the recession 6) ___ Vegas hard. Room prices today are 40% below 2007 room rates, Ader said. Of the top 100 hotel markets in the United States, Vegas is at the bottom in 7)_____ of recovery from its recession year low.
Macau just keeps booming by comparison.
The island’s gaming revenue is six times greater than Vegas.
“The Sands properties in Vegas are huge. You can spend the entire week in Venetia or The Palazzo. But Vegas is just ten percent of their business now,” said Ader, an investor. The Sands is a company with around four billion 8)__ profits, but it is all coming from Asia and most of it is Macau.” Singapore brings 9)___ around $1.5 billion. “Macau is amazing. You have to see it to believe it. It is the best casino market in the world,” he said.
Ader is a bit biased when it comes to Macau gaming. Of course he recommends the Las Vegas Sands Corp. But another one he recommends his family practice (he runs an RIA on Avenue of the Americas in midtown) is Melco Crown Entertainment. 11)_____ out of Hong Kong, they own City of Dreams and their 12)____ is up 52.32% year to date.
Another favorite is Galaxy Entertainment. The stock is up 36.63% this year alone 127% over the last 12 months. By 13)__________, the FTSE China (FXI) exchange traded fund is down 13.68% year to date and up only 2.36% in the last 12 months.