The Macau Metro Monitor, April 12, 2013
SINGAPORE ECONOMY CONTRACTS IN FIRST QUARTER Channel News Asia
Based on advance estimates from the Ministry of Trade and Industry, the Singapore economy contracted by 0.6% YoY in 1Q 2013 or -1.4% QoQ. The numbers undershot market expectations of 1% growth. Despite the contraction in Q1 GDP, the Monetary Authority of Singapore (MAS) says the economy should grow at a modest pace this year, as external demand recovers.
GOVT TO DEMAND CASINOS TO IMPROVE AIR QUALITY: TAM Macau Business
Secretary Tam said that the government is “determined” to demand casinos to meet the required air quality standards inside their smoking areas; otherwise, they will be penalized. He added the government and the operators would improve the implementation of the smoking areas “step by step”.
CASINO REVENUE TO GROW IN "MID-TEENS" IN 2013: TRACY Macau Business
Sands China CEO, Edward Tracy, forecasts Macau’s casino gross gaming revenue to grow in the “mid-teens” this year. He said casino revenue would be positively impacted by the availability of more hotel rooms and because of the opening of the Gongbei station, the last stop of the high-speed railway link connecting Zhuhai to Guangzhou, in late December. He also said that the Parisian project, to be built by Sands China near the Four Seasons in Cotai, is to be completed by late 2015 or early 2016.
VISITOR GROWTH TO BE FLAT IN 2013: MGTO Macau Business
The Macau Government Tourist Office expects the 2013 visitor number to total 28 million, roughly the same as last year, bureau head Maria Helena de Senna Fernandes says. Fernandes adds that the number of tourist arrivals in the first quarter grew at low-single digit rates YoY. She also said that the H7N9 flu is not expected to have a severe impact on Macau tourism.