Connect with us
SIS

Asia

Macau casino operators’ market value touches new heights

Niji Narayan

Published

on

Photo source: vibrant-holidays.com
Reading Time: 1 minute

Macau’s casino operators are expected to build on a 13 per cent revenue growth (Credits: wanderluxe.deluxenomad.com).

The combined market value of six casino operators in Macau would touch US$146 billion by 2020, Morgan Stanley predicts in a newly released a note.

Morgan Stanley  projects a 13 per cent revenue growth in compound annual growth rate (CAGR). The analysts in the firm also add that there could be some hurdles in the immediate feature and the casinos will have to overcome them to achieve the projected growth rate.

The biggest hurdle is going to be the license rebidding process. The competition from Japan and Hainan for Chinese gamblers is also a potential hindrance factor.

Morgan Stanley analysts noted: “In case of licence renewal, it could either have a negative monetary impact or outright loss of gaming profit.  With the potential opening of Japan and Hainan, the pie could shrink meaningfully.”

Furthermore, the brokerage explained that US gaming stocks will more likely be in a better position to face any potential disruptions. However, Galaxy and Sands China are also expected to better handle any hurdles due to their size and higher margin.

Source: Focus Gaming News

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.

Continue Reading
Advertisement
Comments

Asia

New Chief Executive Promises to protect Macau’s Gaming and Tourism Industry

Niji Narayan

Published

on

New Chief Executive Promises to protect Macau’s Gaming and Tourism Industry
Photo Source: macaubusiness.com
Reading Time: 1 minute

 

Ho Iat Seng, the new Chief Executive of Macau, has promised to protect the future of Macau’s gaming and tourism industries.

Speaking at a media conference in Beijing, Ho pointed to the “one country, two systems” principle and national security law as playing an important role in the stability of the city which in turn was vital to its ongoing prosperity.

“One can see that Macau has been doing quite well over the past 20 years in the one country aspect, including the enactment of a national security law. With such legislation, we can prevent interference by foreign influences. If they dare to come to intervene, we will make use of our law to safeguard the one country. We won’t allow foreign influences to have a hand in Macau’s affairs,” Ho said.

“Macau cannot afford to fall into chaos. Macau is a tourism city. Our major revenue comes from tourism and the gaming industry. We need to protect people’s livelihood,” Ho added.

Asked about the impending expiration of Macau’s six gaming concessions and sub-concessions in 2022 and the progress of plans for re-tendering, Ho explained that a draft had already been developed which would be refined and amended once the new administration takes over in December.

Continue Reading

Asia

Goa CM Says Casinos are Essential for Tourism in the State

Niji Narayan

Published

on

Goa CM Says Casinos are Essential for Tourism in the State
Photo Source: livemint.com
Reading Time: 1 minute

 

Goa Chief Minister Pramod Sawant has assessed the importance of casinos in the state and told that they are a very important part of the tourism industry as they attract tourists.

“During one of the media interviews, I was asked whether I support casinos. Casinos are one of the important parts of tourism as they attract tourists… of course, it is there,” Sawant said.

“We are getting direct and indirect revenue from the tourism industry. Now it depends on the stakeholders how to grow the industry, while the government can provide necessary infrastructure for them. We want to make it 100%,” Sawant added.

The Government of Goa has recently announced plans to ban residents from entering casino floors. However, the authorities did not set any timeline for the implementation of such a controversial measure.

“I am of the opinion that Goans should not be allowed in casinos. The Goa Gambling Policy makes it clear that casinos are allowed only for tourism purpose and not for Goans to visit. We have to sit and fix a date to ban Goa residents from casinos. They would be barred from entering offshore and onshore casinos,” Sawant said.

Continue Reading

Asia

Osaka City Planning Council Agrees to Change Yumeshima as Commercial Zone

Niji Narayan

Published

on

Osaka City Planning Council Agrees to Change Yumeshima as Commercial Zone
Photo Source: ft.com
Reading Time: 1 minute

 

The Osaka City Planning Council has agreed to change Yumeshima island to a commercial zone from its current status as an industrial or semi-industrial zone. The change in status of the zone is to promote Yumeshima as an international tourist hub and develop an integrated resort (IR).

“We will guide reasonable land usage for the purpose of creating a new international tourism hub on the coastal area. It is easily accessible from the city and it is possible to secure a large amount of land,” the Council said.

Yumeshima, an artificial island in Osaka Bay, will host the World Expo 2025. Japan is planning to develop integrated resorts before the World Expo 2025. The development of Yumeshima will be worth around JPY 95.4 billion. The city will extend its Osaka Metro Central Line and will connect Yumeshima to the city.

Continue Reading
Advertisement
NSoft

Global Gaming Industry Newsletter – Weekly Digest (sent every Wednesday)

Please select all the ways you would like to hear from European Gaming Media and Events:

You can unsubscribe at any time by clicking the link in the footer of our emails. For information about our privacy practices, please visit our website.

We use Mailchimp as our marketing platform. By clicking below to subscribe, you acknowledge that your information will be transferred to Mailchimp for processing. Learn more about Mailchimp's privacy practices here. Read more about European Gaming Media and Event's Privacy Policy and Terms of Service.

Subscribe to our News via Email

Enter your email address to subscribe to our news and receive notifications of new posts by email.

Latest by author

Trending

Notice for AdBlock users

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.