In June, the city welcomed 669,600 tourists visiting on package tours, an 18.1 per cent year-on-year increase… tourists from India on package tours saw the largest increase, up 167.1 per cent year-on-year to 23,700.
Monthly Archives: July 2017
The 13 Holdings Ltd. missed its July 31 deadline to open its hotel in Macau, a condition of its $384 million loan from Bank of Communications Co., according to a report from Bloomberg. Speaking with people familiar with the matter, Bloomberg reported that the $1.6 billion luxury hotel is aiming to open before the end of the year.
Analysts at Bernstein called the second quarter ‘disappointing’ for local operator MGM China, with ‘share loss in both VIP and mass and increased… Bernstein analysts ‘remain concerned about the company’s ability to fully defend its position [… ] until the opening of MGM Cotai in the fourth quarter,’ pointing out information that places the opening in ‘late October or November,’ depending partly on government approvals.
The Macau government fiscal surplus went up 15.3 percent year-on-year in the first half of 2017 to MOP20.08 billion (US$2.50 billion) as public revenue – which mainly relies on direct taxes from gaming – kept rising. The government’s total revenue stood at approximately MOP54.83 billion at the end of June, 14.2 percent higher… taxes from gaming brought in 82.5 percent of the Macau government’s total revenue in the six months to June 30.
The leveling of the surface on the main part of the Hong Kong-Zhuhai-Macau Bridge (HKZMB) has now been completed, the bridge authority announced on the weekend… The HKZMB will be the world’s longest bridge over water, as it links the three southern Chinese cities in the Pearl River Delta estuary, and it is expected to open to vehicles later this year.
Tourism spend in Singapore rose 15 percent year-on-year to S$6.4 billion (US$4.7 billion), while visitor arrivals grew 4 percent to 4.3 million in 17Q1. Shopping saw the greatest growth in expenditure, rising 38 percent year-on-year in the quarter to S$1.6 billion. Accommodation and food and beverage expenditure also increased in the quarter, up by 18 percent and 14 percent year-on-year respectively.
For decades, Singapore and Hong Kong have reigned supreme: as key transit points connecting travelers in Asia to and from the rest of the world. But now, a $1 trillion global airport spree is threatening the status quo. In Beijing, a new $12.9 billion airport due to open in 2019 will turn China’s capital into one of the world’s biggest aviation hubs. Bangkok’s Airport is set for $3.5 billion of upgrades. South Korea’s Incheon International Airport is spending $4.5 billion)on a second terminal as it aims to become “the world’s leading mega-hub airport.”
South Korea’s casino resort Paradise City welcomed a daily average of 3,100 visitors in the first 100 days of operation. The person added that the property – which opened on April 20 – had since welcomed around 310,000 visitors.
Slot machine supplier Konami Holdings Corp reported a 46.4 percent increase in consolidated profit for the quarter ended June 30, 2017. Profit in the quarter reached JPY8.5 billion (US$76.8 million), while total revenue amounted to JPY55.7 billion, representing a year-on-year increase of 12.8 percent.
Foreign casino operators are pushing back against moves to regulate the proposed introduction of big-ticket gambling in Japan, an early sign of friction for projects expected to generate billions of dollars for the country and the global gambling industry.