A total of 59 per cent of interviewed restaurants and similar establishments surveyed by the Statistics and Census Service (DESC) reported a yearly increase in receipts in March, while 19 per cent record a year-on-year decline in receipts. The data was taken from value of receipts based on a sample of 167 restaurants (accounting for 53 per cent of the industry’s receipts) and 135 retailers (accounting for 70 per cent of receipts).
Monthly Archives: May 2018
The government yesterday launched a 45-day public consultation on the strategies and major infrastructure projects required to develop Macau into a smart city, aiming to build Macau into a sustainable smart city and world city of leisure and tourism. The government in 2016 announced its Five-Year Development Plan (2016-2020), the city’s first ever five-year development plan, which looks at enhancing the city’s sustainable development featuring “Smart Tourism”, “Smart Transportation”, “Smart Healthcare” and “Smart Government”.
Martin Purbrick, the Hong Kong Jockey Club’s security and integrity chief said a task force would release detailed research into the extent of illegal betting within the next few weeks. “There is a huge problem of criminality using betting, racing and sports for profit. If we in racing don’t influence government to regulate it, to more effectively combat the problem, it could kill the sport,” he said, stressing in particular the criticality of integrity to customer confidence.” The club turned over HK$115.8 billion (US$14.75 billion) on racing in the last financial year, up nearly 8 per cent on 2015-16.
High-end Chinese gaming customers tend to favour the properties of Melco Resorts & Entertainment and Wynn Macau, asset management firm Sanford C. Bernstein said. High-end gamblers constitute 70 per cent of Macau’s gross gaming revenues, with this ratio unlikely ‘to change meaningfully over the next few years,’ noted Bernstein… .(SJM and Wynn tended to be more popular with the older age group while customers under 30 prefer to hang out in Melco outlets… Bernstein stated that 35 to 44-year olds are a vital demographic for Macau’s gaming industry.
Sands, Melco and Galaxy are best placed to capitalize on the rise of the Chinese premium market, according to Bernstein Research… Other brands set to benefit more from premium mass include Wuliangye, Moutai, Pernod Ricard (Beverages); BMW, Mercedes (Autos); Samsung (Smartphones); and Marriott (Luxury Hotels)
Casino industry veterans said this week that it was unlikely Beijing would allow the construction of casinos in Hainan, the island known as “China’s Hawaii”. But international waters off the Hainan coast could see the launch of new kinds of sports lotteries, they said. Beijing announced in April it would allow horse racing and new types of sports lotteries on the southern island as part of plans to turn the province into the mainland’s biggest pilot free-trade port, leading to gains by stock in companies linked to Hainan.
Leisure and Resorts World Corp reported group-wide gross gaming revenue of PHP3.86 billion (US$73.7 million) for the first quarter of 2018, up by 2.0 percent in year-on-year terms. Consolidated net income stood at PHP82.4 million, a year-on-year decline of 69.7 percent… said performance was negatively affected by “divestment from the City of Dreams Manila project interest amounting to PHP173 million”.
Suncity Group Holdings Limited, Macau’s leading junket operator, has reportedly formed a consortium with Japanese companies to study a potential bid for a gaming license in Japan, confirming it has found partners in the country, although refusing to identify them.
Paddy Power Betfair Plc (PPB) has restated its support of the government’s £2 cut on FOBTs machine wagering… Updating the market, PPB estimates a 33-43% decline in total machine gaming revenues, which referencing 2017 would have equated to a revenue impact of £35 – £46 million, representing 2-2.6% of group revenues.
William Hill Plc and Paddy Power Betfair Plc warned that new U.K. gambling limits will slash their revenue from roulette and poker machines, raising the threat of widespread closures of the bookmaking shops that are a fixture of U.K. shopping districts. William Hill forecast a gaming revenue hit of as much as 45 percent and said 900 of its shops, or 38 percent of the total, could become unprofitable. Paddy Power warned of a similar impact on its revenue.