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The largest junket operators have boosted liquidity in recent months because of the consolidation, giving them more money to attract high-stake gamblers,said Ben Lee, managing partner at consultant IGamiX. On Steroids Only the VIPs can drive a significant recovery in the gaming industry here in Macau, Lee said. The VIP segment has always been growth on steroids in good times, and it looks like this is whats happening now. Still, casino operators say their long-term focus is on bringing in more tourists and leisure gamblers, in line with Xis order for Macau to diversify its economy. Las Vegas Sands Corp . reported its Parisian casino with an Eiffel Tower replica posted adjusted earnings of $95 million in its first full quarter of operation. Melco Crown Entertainment Ltd.s $3.2 billion Studio City resort opened in late 2015 targeting mass market gamblers, before adding its first VIP rooms in August. I think VIP has surprised in terms of its recovery, Melco Chief Executive Officer Lawrence Ho told analysts on a conference call Feb. 16. But at the same time, ultimately, the future of Macau is going to be pinned on the growth of the mass market. Click here to read about how Sands China is missing the stock rally as rivals pull in VIPs There are also signs the wave may be cresting soon for the VIP revival, with China expanding curbs on home purchases and imposing tighter restrictions on property lending in an attempt to ward off a housing bubble. New-home prices increased in January in only 45 of 70 cities tracked by the government -- the fewest in a year. Chinas foreign-exchange regulator also announced measures last month to curb capital outflows, while the governments detention of Crown Resorts Ltd.
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Richard Elliot (@RElliotWSB) February 27, 2017 I am not discouraged, Beach told the Atlanta Journal-Constitution.I will double down and plan to crisscross the state starting in April to build support for the bill in 2018. Beach's original plan called for up to six casinos and a horse racing track in the state. He eventually reduced that to no more than two destination resort casinos; one in the Metro Atlanta area and another in a smaller, secondary city like Savannah or Columbus. RELATED STORIES: Pre-K advocates worry casinos will hurt funding The bill required the casinos to pay 20 percent of gambling revenues to the state to help pay for HOPE scholarships, needs-based scholarships and pre-K programs. Beach said he plans to spend this year educating the state about the bill by visiting local Rotary Clubs and speaking with education leaders, hospital administrators and anyone else who will listen, to garner public backing. Casino gambling bill sponsor confirms he doesn't have to votes to pass it; vows to "double down" and try harder to pass it next year. Richard Elliot (@RElliotWSB) February 27, 2017 I do think we have the votes, Beach said. We feel very confident we have the votes on the Senate floor, but you have to get it out of committee to get it to the floor. State Rep. Ron Stephens' version of the bill is technically still alive but without Senate support, and even he conceded some defeat. We will not give up on these kids, Stephens said. We will not give up on the HOPE scholarship, the HOPE grant and pre-k funding and, as it continues to dwindle. We'll be back again. Mike Griffin, of the Georgia Baptist Mission Board, said social and economic conservatives joined to defeat the bill because they both think it's bad for Georgia. We can be thankful that legislators during this session have given an ear to understand that the end does not always justify the means and that we can't always put and should never put money over morality, Griffin said.
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