Wednesday, December 13, 2017
 
Columnist
Martin Hennecke

Prospects for Macau gaming still cloudy
 
17/02/2017
 
Macau's gaming industry may not be out of the doldrums yet despite some signs of recovery during the Chinese New Year holiday.

The government is keeping a tight lid on mass gaming, raising questions on growth prospects going forward.

MGM China (2282) yesterday said its net profit last year fell 2.3 percent year on year to HK$3.03 billion as casino revenue dropped 13 percent to HK$14.6 billion. It declared a dividend of 16 HK cents per share.

Success Universe (0487) deputy chairman Ma Ho-man, meanwhile, said Macau's total gambling revenue rose 10 percent during the Chinese New Year holiday.

Reflecting a tightening of rules, Secretary of Economy and Finance Leong Vai Tac said only 15 mass market tables would be granted to Macau Legend Development's (1680) upcoming Legend Palace casino, the least in recent years.

The firm applied for 30 mass tables and it plans to have over 50 mass tables when its new casino opens at the end of this month.

Melco International Development (0200) said it has completed the purchase of shares in its joint venture with Crown Resorts, Melco Crown Entertainment, lifting its stake in the latter to 51.3 percent.

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