Monthly Archives: May 2018

Restaurants enjoy brisk business in March, retail experiences slight decline

Date

May 18, 2018

Author

Yi Wei Wong

Source

Macau Business

Region


Subject

Macau

URL

http://www.macaubusiness.com/macau-restaurants-enjoy-brisk-business-in-march-retail-experiences-slight-decline/

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).

Govt consults public on smart city development

Date

May 18, 2018

Author

none

Source

Macau Post Daily

Region


Subject

Macau

URL

http://www.macaupostdaily.com/article4592.html

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”.

HKJC warns about impact of illegal betting

Date

May 18, 2018

Author

none

Source

Asia Gaming Brief

Region


Subject

Macau

URL

https://agbrief.com/headline/hkjc-warns-about-impact-of-illegal-betting/

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.

Melco and Wynn top choice of Macau high-rollers

Date

May 18, 2018

Author

Yi Wei Wong

Source

Macau Business

Region


Subject

Macau

URL

http://www.macaubusiness.com/macau-melco-and-wynn-top-choice-of-macau-high-rollers-brokerage/

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, Galaxy to benefit most from rise of premium market

Date

May 18, 2018

Author

none

Source

Asia Gaming Brief

Region


Subject

Macau

URL

https://agbrief.com/headline/sands-melco-galaxy-to-benefit-most-from-rise-of-premium-market/

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)

Casinos in Hainan? Don’t bet on it, says industry guild

Date

May 18, 2018

Author

Jane Li

Source

South China Morning Post

Region


Subject

China

URL

http://www.scmp.com/business/china-business/article/2146828/casinos-hainan-dont-bet-it-says-industry-guild-cruise-based

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 1Q profit down 70 pct

Date

May 18, 2018

Author

none

Source

GGRAsia

Region


Subject

Philippines-results

URL

http://www.ggrasia.com/leisure-and-resorts-world-corp-1q-profit-down-70-pct/

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”.

Paddy Power Betfair stands by FOBTs judgement

Date

May 18, 2018

Author

Ted Menmuir

Source

SBC News

Region


Subject

UK

URL

https://www.sbcnews.co.uk/europe/2018/05/18/paddy-power-betfair-stands-by-fobts-judgement/

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, Paddy Power See Sales Hit from U.K. Betting Limit

Date

May 18, 2018

Author

Thomas Seal

Source

Bloomberg

Region


Subject

UK

URL

https://www.bloomberg.com/news/articles/2018-05-17/u-k-restricts-bets-on-gambling-machines-in-blow-to-bookmakers

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.