• 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
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

New crackdown reports hurt Macau sentiment: analyst

Aug 29, 2014 Newsdesk Latest News, Macau, Top of the deck  


New crackdown reports hurt Macau sentiment: analyst

Macau’s gross gaming revenue for August is trending toward a 5 percent decline judged year-on-year, said a note from Credit Suisse AG in Hong Kong on Friday evening.

The bank on Tuesday had said it was expecting a 4 to 6 percent drop.

The research team added that sentiment wasn’t helped by media reports out of mainland China on Friday suggesting some officials in Beijing had been asked to surrender their passports to the authorities as part of the central government’s anti-corruption drive.

“Beijing Youth Daily reported today that Beijing city is tightening approvals for personal trips overseas by officials of divisional level and above. Many government agencies in the city asked officials to hand in their passports,” wrote Credit Suisse analyst Kenneth Fong.

“Although this measure is not likely to directly impact Macau as the officials have found it difficult to get visas to come to Macau anyway, it hurts sentiment, especially when the revenue trend recovery has been slow,” added Mr Fong.

Media reports of fresh protests by Macau casino workers against their employers might also have added to any investor disquiet. There was red across the board on Friday in Hong Kong trading of Macau casino names. Wynn Macau Ltd led the bears, losing 1.98 percent to HKD29.70 (US$3.80).

Credit Suisse’s latest market estimate for August was made after receiving unofficial industry returns on average daily revenue rates for Macau’s casino industry up to August 24, which Mr Fong described as “soft” for the summer holiday season.

“Macau gaming revenue up to 24 August… was MOP23 billion [US$2.9 billion], implying an average daily revenue of MOP958 million month-to-date, similar to the level before the [FIFA] World Cup,” stated Mr Fong.

“By business segments, we estimate that the mass-market revenue would be up about 20 percent year-on-year while [the] VIP segment is likely to drop high-teens year-on-year on [a] full month basis,” he added.


  • tweet
Related articles
  • Macau GGR 8-14 Aug US$10mln/day, up 120pct: brokerage
    Macau GGR 8-14 Aug US$10mln/day, up...

    Aug 16, 2022  

  • Kangwon Land US$29mln 2Q profit as revenue up 53pct
    Kangwon Land US$29mln 2Q profit as...

    Aug 12, 2022  

More news
  • Singapore’s Gambling Regulatory Authority inaugurated
    Singapore’s Gambling Regulatory...

    Aug 16, 2022  

  • Macau drops professional secrecy override from junket bill
    Macau drops professional secrecy...

    Aug 16, 2022  


Latest News

Singapore’s Gambling Regulatory Authority inaugurated

Singapore’s Gambling Regulatory Authority inaugurated

Aug 16, 2022  

The Gambling Regulatory Authority of Singapore (GRA) was inaugurated at a ceremony on Tuesday. The new body – taking on the work of the former Casino Regulatory Authority and adding some new...
Read More
Macau drops professional secrecy override from junket bill

Macau drops professional secrecy override from junket bill

Aug 16, 2022  

PH Resorts still in talks on investment by Bloomberry

PH Resorts still in talks on investment by Bloomberry

Aug 16, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


US$9.3 million

Second-quarter gaming sales at Jeju Dream Tower casino resort in South Korea



Most Popular

  • Macau bill still lets junkets process patron cash, chipsMacau bill still lets junkets process patron cash, chips August 15, 2022
  • Wenzhou court hears bet crime cases said tied to Alvin ChauWenzhou court hears bet crime cases said tied to Alvin Chau August 12, 2022
  • Macau GGR 8-14 Aug US$10mln/day, up 120pct: brokerageMacau GGR 8-14 Aug US$10mln/day, up 120pct: brokerage August 16, 2022
  • No-interest play deposits ok for casinos says Macau billNo-interest play deposits ok for casinos says Macau bill August 12, 2022
  • Singapore’s Gambling Regulatory Authority inauguratedSingapore’s Gambling Regulatory Authority inaugurated August 16, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us