• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Features
  • Industry Talk
  • Trends & Tech
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Gaming to support Macau 5.8pct growth in 2018: EIU

Sep 26, 2018 Newsdesk Latest News, Macau, Top of the deck  


Gaming to support Macau 5.8pct growth in 2018: EIU

The Economist Intelligence Unit (EIU) says in its latest report on the outlook for Macau that “the continued growth” in the local gaming sector and in spending from more affluent mainland Chinese tourists supports its forecast for a nearly 6 percent economic growth in 2018.

“Activity in Macau’s gambling sector has continued to underpin the territory’s robust economic growth,” said the research unit. “We expect the economy to record 5.8 percent annual growth in 2018, based primarily on the strong performance of that sector.”

It added: “However, this will cause officials to de-prioritise efforts to diversify Macau’s economy in the short term, which is a long-term policy goal of the current administration.”

The growth rate of Macau’s economy however is expected to slow to 3.9 percent next year, according to EIU’s forecast.

The document said that the Macau government’s efforts to diversify the city’s economic structure are expected to “remain unsuccessful”. But the research house said that the city’s gaming operators should continue to expand their non-gaming offerings in order to increase the existing entertainment opportunities.

Although mainland China’s economic growth is expected to slow slightly in the 2018-2019 period, the EIU expects the average income of the population to continue to rise, allowing Chinese visitors to Macau to spend more in gaming and entertainment.

A slowing Chinese economy could be a potential hindrance to short-term growth in gross gaming revenue (GGR) for Macau’s casinos, said brokerage Sanford C. Bernstein and Co LLC in a report released last month.

The Macau market’s casino GGR tally for the first eight months of 2018 stood at MOP202.10 billion (US$25.1 billion), up 17.5 percent from the prior-year period.

For the first half of 2018, Macau’s economy grew by 7.6 percent year-on-year in real terms, according to data from the city’s Statistics and Census Service.


  • tweet
Related articles
  • SuzoHapp splits off cash handling biz, focuses on gaming
    SuzoHapp splits off cash handling biz,...

    Jan 19, 2021  

  • Macau govt expects US$3.7bln in 2020 gaming tax
    Macau govt expects US$3.7bln in 2020...

    Dec 10, 2020  

More news
  • Fitch says LVS Nevada sale slight negative, Moody’s keener
    Fitch says LVS Nevada sale slight...

    Mar 05, 2021  

  • Travel ban on casino hub Sihanoukville: reports
    Travel ban on casino hub Sihanoukville:...

    Mar 05, 2021  


Latest News

Fitch says LVS Nevada sale slight negative, Moody’s keener

Fitch says LVS Nevada sale slight negative, Moody’s keener

Mar 05, 2021  

Despite United States-based casino group Las Vegas Sands Corp (LVS) being in line to generate US$6.25 billion from the sale of its Las Vegas, Nevada assets, Fitch Ratings Inc said in a Thursday memo...
Read More
Travel ban on casino hub Sihanoukville: reports

Travel ban on casino hub Sihanoukville: reports

Mar 05, 2021  

Melco says City of Dreams in Cyprus open summer 2022

Melco says City of Dreams in Cyprus open summer 2022

Mar 05, 2021  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Partners

Pick of the Day

“Prolonged closure of operations could derail earnings recovery and weigh on NagaCorp’s credit quality"

Junling Tan, Yu Sheng Tay and Vikas Halan

Analysts at credit rating agency Moody’s Investors Service



Most Popular

  • Lim Kok Thay, GEN Singapore execs in US$1.3mln stock awardLim Kok Thay, GEN Singapore execs in US$1.3mln stock award March 2, 2021
  • Las Vegas Sands to sell off Nevada assets for US$6.25blnLas Vegas Sands to sell off Nevada assets for US$6.25bln March 3, 2021
  • Covid-19 test cert no longer needed for Macau casino entryCovid-19 test cert no longer needed for Macau casino entry March 2, 2021
  • Galaxy Macau to add Raffles-branded hotel towerGalaxy Macau to add Raffles-branded hotel tower March 1, 2021
  • Macau casino GGR down 9pct m-o-m in February: govtMacau casino GGR down 9pct m-o-m in February: govt March 1, 2021
Copyright 2014-2021 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us