Rising Star
The Macau government on Tuesday confirmed that 2006 was a record year for gambling revenues revealing that casino income exceeded $7 billion in the region, outpacing that of the Las Vegas strip. The Chinese enclave's 22 casinos generated $2.1 billion in the final quarter, taking the year's total gross gaming revenues to $7.2 billion. Las Vegas, which boasts at least 40 casinos on its main strip, brought in $6.6 billion.
Reporting
Tipp24 AG on March 26 announced its full year results, which show a 32.6 percent increase in revenue growth to $34.8 million and a 20 percent increase in pre-tax earnings to $9.6 million. The company said it continued to expand its "dominant position" in the German market, as its share grew to over 60 percent late in the fourth quarter. "Our company continued to display stable and sustainable growth in 2006 despite adverse market conditions caused by ongoing political and legal discussion about Germany's gaming market," said Tipp 24 CFO Hans Cornehl.
Click here to view Tipp24's full year results.