The Macau Trade and Investment Promotion Institute (IPIM) attended the “Asia-Pacific Incentives and Meetings Expo 2016″ (AIME 2016) which ended Wednesday in Melbourne, Australia, in order to attract more conventions and exhibitions from the Asia-Pacific region to Macau.
Monthly Archives: February 2016
Macau had 2.45 million visitors last month, 0.8 per cent fewer than a year earlier… 1.66 million of last month’s visitors were mainlanders.
Tourist arrivals totaled 2,445,876 in January 2016, down slightly by 0.8 percent year-on-year and down by 7.1 percent month-to-month… the number of overnight visitors has increased by 5.3 percent year-on-year to 1,145,902… The average length of stay of visitors increased by 0.3 of a day year-on-year, to 1.2 days
The “ultra-luxury” Louis XIII hotel expected to open later this year has been named “The 13.” … “As the business and the brand have developed, we felt that the name ‘The 13’ most accurately reflected our Macau hotel’s combination of Baroque inspiration and contemporary accents,” said co-chairman Stephen Hung… Of the ‘all-villa’ hotel’s 200 rooms, most will be Villa du Comte suites… Each of these rooms will be approximately 2,000 square feet.
Often inscrutable Japan has taken the mystery out of the casino question for this year’s legislative session. Last month, the ruling Liberal Democratic Party (LDP) declared the Integrated Resorts Promotion bill will not be introduced during the current sitting of the Diet. That makes the already remote possibility of integrated resorts in Japan in time for the 2020 Olympic Games in Tokyo a near impossibility. Conditions are actually quite favorable for Japan to introduce casinos, except in Japan’s political crucible.
The legalization of casino gambling in Thailand could bring annual tax revenues to the country of over $2.8 billion… General Somyot had said illegal gambling was “rampant” within Thailand, and that money raised from taxes on legalized casino gambling could be spent on education and social affairs within the country. Scholar Mr. Sungsidh argued that legalizing casinos in Thailand could help reduce the number of cases of illegal gambling.
U.S. casino operator Mohegan Sun and KCC Corp have been selected as the winner of an integrated resort project in Incheon… Mohegan’s bid with KCC envisions a $1.2 billion investment to build a casino, luxury hotel, shopping areas, an entertainment arena and convention venues on the island by 2019.
Asia’s best performing casino won’t be found on Macau’s Cotai Strip, Singapore’s waterfront or even the shores of Manila Bay, but tucked away at the end of a winding mountain road, three hours east of Seoul… Kangwon Land is the top performing casino stock in Asia over the past year, having surged 21 percent. Now valued at $7.2 billion, it trails only Sands China and Galaxy Entertainment in the region.
Il Hwan Kim, president of IH Group and Edward Atalig Hocog Jr., vice president of IH Group are planning to build a 1,100-room hotel and casino on the island of Rota. The project will cost $10 billion over a period of 10 years.
Austrian gaming technology firm Novomatic and a group of Czech investors have agreed to set up a joint venture to combine their shareholdings in Casinos Austria and Austrian Lotteries… the joint venture, which will hold more than 51 percent in Casinos Austria, settles disputes among shareholders. Austrian Lotteries is a part of the Casinos Austria group. Unlisted Casinos Austria, one third owned by the Austrian state, earned a net profit of 41.7 million euros ($46 million)in 2014 on revenue of 3.6 billion euros. Beyond its domestic markets, it runs gaming and sports betting operations in a number of east European countries.