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MACAU BUSINESS Galaxy VIP results down 25% G


aming operator Galaxy Entertainment Group (GEG) VIP total gross gaming revenue fell 25 per cent year-on-year to US$7.4 billion (MOP59.8 billion), in the first quarter of the year, with the Hong Kong


listed company attributing the fall to the enforcement of new smoking regulations. New smoking regulations pertaining to casino gaming areas came in to


play on January 1st, 2019 with smoking – either in mass market or VIP gaming areas – now only allowed in new, authorised smoking lounges that follow stricter requirements. Meanwhile mass market results almost equaled VIP results, going up 9 per


cent year-on-year to about US$7.3 billion (MOP58.4 billion). The group’s net revenue went down 8 per cent, both year-on-year and from the last quarter, to US$13.0 billion (MOP104 billion), with Adjusted EBITDA falling by the same percentage to US$4 billion (MOP32 billion).


Europe’s largest gambling hall


The Estoril Sol group is, regardless of the criteria analysed, market leader in the casino sector in Portugal. In addition to the two rooms it operates in the Lisbon area


there is a second concession in Póvoa de Varzim. Estoril and Lisbon, the two largest Portuguese casinos, represent 46.17 per cent of the sector’s market share (only Casino Lisboa stands out at about 27 per cent). In 2018, the group recorded gross revenues in excess of


The Lisbon gambling hall, Europe’s largest, has existed for


13 years (since 19th April 2006) generating gross receipts of €1,097 million since its opening, with the vast majority


obtained through slot machines (82%). It has so far involved an overall investment of €120 million. Over the course of these 13 years, only Casino Lisboa paid


the state €582.1 million and delivered prizes in the same period of €5330 million. In 2018, these two casinos (plus the smaller Póvoa) paid


more than €64 million in taxes to the state. Accounts compiled over the last four years reveal that these three casinos put more than €233 million into the public coffers.


Last year, Portuguese casinos accumulated €318.8 million


in revenues from the exploitation of gambling. The Estoril- Sol group, with two concessions, posted turnover in the order of s196.8 million. While the Estoril casino is a more classic gambling space,


Casino Lisboa is more attuned to what is known as non- gaming in Macau: in these 13 years it has staged more than 147 shows and welcomed 22 million visitors.


JULY 2019 21


€196.6 million, an increase of 2.3 per cent over 2017. Of this, Casino Lisboa contributed €86.7 million and Estoril €64 million.


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