The Hong Kong-Zhuhai-Macau bridge could open to traffic as early as in the second quarter 2018
According to the information released by the Gaming Inspection and Coordination Bureau (DICJ) on the 1st March, Macau’s gaming revenue growth rose 5.7 percent to MOP24.30 billion (USD3.03 billion) in February, the slowest pace since January 2017. The newswire pointed out that even though revenue growth slowed down in February, it was still the 19th month of consecutive gains. In January 2018, Macau’s casinos recorded bumper growth of 36.4 percent, the largest year-on-year increase in almost four years. And month on month, February’s revenue was down 7.50 percent.
The gambling data captured a slow start in the first few days of the Chinese New Year (CNY) holiday, which started on February 15, with high-rollers staying away from the world’s biggest gaming hub during the busy holiday period. Gaming gross revenue in the first two months rose 19.70 percent year on year to MOP50.56 billion (USD6.32 billion).
Visitors’ total non-gaming spending reached MOP61.32 billion (USD7.66 billion) in 2017, a year-on-year increase of 16.4 percent and Macau’s gross gaming revenue in 2017 rose 18.9 percent year-on-year to MOP266.60 billion (USD33.32 billion). Non-gaming spending by overnight visitors was MOP49.75 billion (USD6.21 billion) and same-day visitors MOP11.57 billion (USD1.44 billion) rose 18.2 percent and 9.5 percent respectively. Visitors’ per capita non-gaming spending rose 10.5 percent to MOP1,880 (USD235) last year. Mainland Chinese visitors spent an average of MOP2,203 (USD275), up 11.6 percent. As in previous years, mainland visitors continued to be Macau’s top spenders. Visitors’ per capita shopping spending rose 14.9 percent to MOP855 (USD106) which was mainly spent on local food products, cosmetics and perfume.
According to a Galaxy Entertainment Group (GEG) statement, the group posted a 67 percent rise in full-year net profit in 2017 and net profit attributable to shareholders (NPAS)reached HKD10.5 billion (USD1.34 billion) last year. The statement also said that GEG continued to move forward with its Cotai Phases 3 & 4 with a strong focus on non-gaming, primarily targeting MICE, entertainment as well as family facilities. GEG group plans to move forward to develop a low-density integrated resort on Hengqin Island to complement their high-energy entertainment resorts in Macau and further details on the Hengqin project would be disclosed later this year.