MACAU BUSINESS H T Suncity Group expecting a swing into profi ts in H1
ong Kong-listed Suncity Group has informed shareholders it expects to record a profi t between RMB180 million and RMB240 million (US$37 million/ MOP296.9 million) in the fi rst six months of this year. This would represent an improvement from the
RMB118.6 million in losses registered in the same period of last year. In the announcement signed by chairman Alvin Chau, Suncity indicated that The COVID-19 pandemic has continued to ‘negatively impact’ its overall business especially revenue from travel-related products and services, which signifi cantly decreased from approximately RMB67.7 million last year to RMB26.9 million between January and June of 2021. The Hong Kong-listed group
does not include Suncity’s VIP junket operations, with its business cope mainly covering property development and leasing, provision of hotel and integrated resort general consultancy service, and operation of integrated resorts. The group’s turn into profi t was attributed to a gain on change in fair value of derivative fi nancial instruments amounting to approximately RMB449.4 million, and the gain on the disposal of the entire equity interest in the group’s Chinese property development arm, Access Achievement Limited, for approximately RMB167.8 million. Still, the results were offset by fi nance costs of approximately RMB123.1 million and the share of loss of a joint venture of approximately RMB139.9 million.
Polytechnic Institute gaming research compilation
he fi rst issue of Global Gaming & Tourism Research of 2021 published by Macao Polytechnic Institute (MPI) aims to fi nd new directions for the local gaming sector as the Covid-19 pandemic continues to rage on, Editor-in-Chief Professor Zeng Zhonglu told Macau News Agency. With contributing authors from the United Kingdom, Mainland China and Macau, the most recent issue includes six reports focused on topics such as problem gaming, the impact of Covid-19 on the public’s willingness to accept new types of gambling, and possible applications of AI and robots in hotel operations. MPI Gaming Teaching and Research Centre Professor, Zeng Zhonglu contributed to the edition with a research paper written in cooperation PhD student Li Ke and exploring if social-oriented gaming could be developed and targeted for the increasing
number of the elderly in Macau. Starting from the principle of fl ow theory, which refers to a state of complete immersion in an activity that might make people oblivious to the world around them, the paper argues that such experiences should not be limited to the young, but also the elderly. “Elderly also enjoy social gaming and more effort could be made to include them in leisure activities. If older people can come to Macau more frequently instead of every two months, if people can fl ow better between mainland cities and Macau then this could be a practical strategy. We must think of the future,” Professor Zeng told MNA. Therefore if social-oriented gaming could be developed and targeted for the increasing number of the elderly in Macau, it will not only enable the local gaming industry to develop a new market but also contribute to the well-being of the elderly.
T
Current VIP model unsustainable under country’s legal system – Committee
he development of the local gaming sector has implications on the country’s national security and it is unlikely the current VIP room exploration model could be sustained under China’s penal legal framework, the Legislative Assembly (AL) Land and Public Concessions Follow-up Committee indicated in its fi nal
report. In its report – fi rstly reported by Tribuna de Macau – the commission indicates during the previous legislative year it discussed with government representatives the development of the current gaming legal framework, state security, the increase in non-gaming element, the future gaming licenses, among other gaming-related issues. The report was fi rst published on August 2 and mentions opinions expressed during a meeting by the committee with Secretary
for Economy and Finance Lei Wai Nong and Gaming Inspection and Co-ordination Bureau (DICJ) Director Adriano Ho on May 17 to discuss the previously cited issues. The public consultation over the proposed amendments to the Macau SAR gaming legislation is expected to start in the second half of this year, as authorities set the ground for the renewal bidding process of gaming concessions. “The committee underlined that the development of the local gaming sector has implications in national security, namely when it pertains to economic, fi nancial and public safety sectors. When reviewing the current gaming law the government must ponder on one side how to assure the stable development of the gaming sector but also comply with national security needs,” the committee’s report adds.
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Gaming sector job vacancies still at double digits in Q2
hile in pre-pandemic times job vacancies for gaming sector full-time employees – excluding junket operators – ranged from 500-100, during the second quarter of this year only 56 job vacancies were available. According to data published by the Statistics and Census Bureau (DSEC), the
number is still about double of the 25 job vacancies available by the end of the second quarter of 2020, but pales in comparison with the 904 job vacancies available in the second quarter of 2019, mostly clerk and dealer positions, in
24 OCTOBER 2021
pre-pandemic times. Of the 56 job vacancies available, 30 were for clerk positions, with only seven involving director or management positions, and with no dealer openings. The DSEC underlined that the level of manpower demand in the gaming sector by the end of June, 2021 remained ‘relatively low,’ with a job vacancy rate of only 0.1 per cent, while the employee recruitment rate stood at 0.8 per cent and the employee turnover rate at 1.8 per cent. In the second quarter, the number of new recruits and employees leaving employment totalled 466 and 1,016 respectively.
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