The Macau Metro Monitor, February 19th, 2010


TIGER ROARS IN MACAU Destination Macau 

 According to a report in today's Macao Daily News, gaming revenues for the first three days of Chinese New Year were disappointing – day one only rang in MOP 90 million, day two wasn't much better with gaming revenue of only MOP 100 million, and day 3 was just more normal at MOP 300 million – i.e. back to the daily average for the first week running up to Chinese New Year. However, days four through six where bustling with packed ferries and swarming crowds. DM reporters commented on the record turnout at the Venetian where the gaming floor was heaving and the malls were seeking brisk business. Neighboring City of Dreams should have racked up its best daily numbers since opening, too, judging by the foot traffic they saw. The peninsula, meanwhile, was buzzing. Sources at Grand Lisboa say they have not seen the place so full since it opened in 2007. Wynn, MGM and StarWorld all looked packed, too.


According to statistics from Rádio Macau, February gross gaming revenues in Macau should be lower than the previous month. Until February 17, the gross gaming revenues surpassed a total of MOP5.3 billion. For the whole month, predictions are that the gross gaming revenues will stay below MOP9 billion, still better than the MOP7.9 billion recorded a year ago. Gross revenues at Macau casinos hit a record MOP14 billion in January 2010, the highest monthly revenue ever recorded, according to Portuguese news agency, Lusa. 


The DM believes there is a delay on resumption of sales of the "co-op" units, which may or may not be tied to a delay in the government issuing the necessary work permits to get construction restarted on Lot 5&6. But a delay does not mean an impossibility. When those sales do resume, the DM believes they will be able to fetch as high as 30-40% above the current top of the market rates in Macau.



The first casino in Singapore made S$40MM in the first two days of its opening and Malaysians contributed one-third of the revenue. Within hours of Genting Group chairman Lim Kok Thay opening Singapore's first casino on Feb 14, it had to shut its doors due to overcrowding. More than 35,000 punters showed up to try their luck at the casino on Feb 14 and 15.


RECORD REVENUE Macaubusiness

Macau’s public finances suffered no recession in 2009, as revenues collected marked a new annual record at MOP57.64BN, an increase of 0.014% or MOP8.1MM over the previous year.  Direct taxes from gaming revenue in 2009 grew 5.8%  to MOP41.87BN. Public expenditure rose 18.5% to MOP33.82BN. A surplus of MOP23.82BN was recorded in 2009, down from the MOP29.09BN recorded in 2008.

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