THE M3: MBS TO EXCEED ESTIMATES; MAY GGR 17BN MOP; NO HIRING OF FOREIGN WORKERS;

The Macau Metro Monitor, June 2nd, 2010

 

LAS VEGAS SANDS SAYS SINGAPORE SITE TO TOP ESTIMATES Bloomberg

In an interview last week, COO Michael Leven said, "about 550,000 people visited MBS in the first 25 days of May, with ~25% of the resort open to the public."  The casino is winning “slightly more” on mass-market gambling than on VIP play since opening April 27, he said.  He believes at the current run rate, adding only improvements to the hotel, MBS will exceed the 2010 EBITDA of $329 million on the Street.  About 1/3 of MBS's visitors are Singaporeans.

 

Leven characterized Genting as a "very formidable casino competitor."  He said, “They know the market better than we knew the market on the mass-play side, because they operate in Malaysia and our operations in Macau are very different.”  Furthermore, Leven mentioned the lowering of food and parking prices as part of a mass market marketing plan.

 

According to Leven, Sands is "somewhat disappointed" at its slot win at MBS; the company has ordered popular electronic rapid roulette and mini-baccarat games to compete with Genting.

 

A NEW GAMING RECORD SET macaubusiness.com

Macau gross gaming revenues soared to MOP17 billion in May (~95% YoY), the highest monthly revenue ever recorded in the territory, according to Portuguese news agency, Lusa.  From January to May, GGR totaled MOP72.2 billion, an increase of ~ 70 percent YoY.

 

SJM continued to be the leader with market share slightly above 32%; LVS had a 20% share; WYNN had a 16% share; MPEL had a 14% share; Galaxy had a slightly above 11% share; and MGM had a slightly above 7% share.  

 

OFWs TOLD TO DELAY MACAU TRIP Manila Bulletin

Labor Secretary Marianito Roque advised Filipinos to delay finding employment in Macau because of the new imported labor law.  “Filipino workers should be wary especially against unscrupulous individuals or agencies who may entice or bring them to Macau because at the moment there is no hiring of foreign workers,’’ he added.

 

Based on POEA data, a total of 6,729 overseas Filipino workers (OFWs) were deployed to Macau in 2009, most of them employed in the tourism sector.


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