MACAU BUSINESS “Mr. Zeng hopes that the Chinese
Government may one day legalise gaming in Hainan to help reduce capital outflows from the country,” states Tulcidas, who was involved in the renegotiation of the gaming concession in Macau during the Portuguese Administration. “All the revenue should go into Chinese companies and the country of China instead of being all eaten up by foreign capital [according to Zeng]”. Last April, during the annual Boao Forum
for Asia in Hainan Province, President Xi Jinping announced a grand plan that will see China further open its economy, including the
NEWS IN BRIEF
Melco up Melco International Development Limited announced the first quarterly unaudited financial result, with an increase of 3 per cent in its net revenue amounting to US$1.3 billion (MOP10.62 billion). For the quarter, adjusted EBITDA of the group was US$401.8 million, posting an increase of 14 per cent compared to US$353.3 million during the same period last year.
Non-gaming takes lead in Wynn Palace phase II Recently appointed non-executive chairman of Wynn Macau, Allan Zeman, said that the company is looking for opportunities focusing more on non- gaming elements. Speaking
latest measures to build Hainan Island into an international Free Trade Zone by 2020. According to official guidelines, the Central Government has decided to set up an investment fund to support the building of a free trade port in Hainan by 2025, with the aim that the system will ‘mature’ by 2035. China also plans to build Hainan into a global and consumption hub and will support the development of horseracing and other projects, including beach and water sports. The island will also explore the development of sports betting and instant lotteries for large scale international competitions.
to the press, Mr. Zeman commented that the new phase for the property in Cotai would be “not so much on gaming but really about non-gaming.”
Galaxy reaches new record Galaxy Entertainment Group recorded an ‘all-time record’ adjusted EBITDA in the first quarter at HK$4.3 billion, a 36 per cent yearly rise from the same period of last year. This represents a ‘9th consecutive quarter of EBITDA growth despite competitive new capacity being added to the market,’ the company noted.
Lawrence Ho says no junkets in Morpheus The new flagship hotel by Melco Resorts & Entertainment, Morpheus, will have gaming tables only for premium mass operations, stated Lawrence
Ho Yau Lung, the CEO and chairman of the group during a press conference. “[We] are more into serving our own clients,” he said. Ho revealed earlier this month that no junket operators would be deployed to attract high-rollers in Morpheus.
SJM better with mass market
SJM Holding Limited has announced a 25.8 per cent increase in profits during the first quarter, amounting to HK$730 million from HK$580 million. In its filing with the Hong Kong Stock Exchange, the company stated that the growth was mainly attributable to ‘an increase in mass market gross gaming revenue in self-promoted casinos.’ Net gaming revenue of HK$8.41 billion for the first quarter represented an increase of 6.7 per cent when
Right after the announcement in April of
these measures to transform Hainan Island into a Free Trade Zone, construction on three mega industrial projects began in May, emphasises Mr. Jitendra: “Central Government officials have shown particular interest in Hainan in recent months, which suggests a co-ordinated effort to promote the island. In order to attract more foreign tourists, China’s leaders have agreed to build a new airport on Hainan’s western coast (despite the island having already three international airports, all located on the eastern coast) as well as relaxing visa rules.”
compared to the same period last year, with the company noting that the group’s gross gaming revenue accounted for 14.7 per cent of Macau’s casino gaming revenue during the period under review.
Paradise Entertainment revenue rises Macau-based gaming operator Paradise Entertainment Limited announced that its first quarter revenue for this year was up 31.1 per cent year-on-year to HK$308.4 million (US$39.28 million). Adjusted EBITDA of the Group in the period under review totalled HK$51.8 million, as compared to a loss of HK$10.1 million in the same quarter of last year. In an earnings release, the total gross gaming revenue from the firm’s operations at casino Kam Pek amounted HK$354.5
million, which represented a yearly 28.9 per cent increase if compared to the same period last year.
Steady growth Gross gaming revenue totaled MOP25.73 billion (US$3.18 billion) in April, up 27.6 per cent when compared to the same month last year at MOP20.16 billion. The amount represents a 0.8 per cent decrease compared to MOP25.95 billion registered in March 2018. Meanwhile, accumulated gross gaming revenue for the first four months of the year has totaled MOP102.24 billion, an increase of 22.2 per cent compared to the same period last year. The April results ‘smashed consensus’ despite the fourth month of this year having ‘an unfavourable calendar with one fewer Saturday’, Union Gaming stated in a note.
22 JULY 2018
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