The Macau Metro Monitor, June 14th, 2010
JUNE CASINO REVENUE LOWER THAN MAY, SAYS REGULATOR Macau Daily Times, Intelligence Macau
Local gaming revenues for June will be lower than in May, Director Neves from DICJ told MDT. The regulator stood by his prediction of 30% GGR growth in 2010 and believes the rise “will be smoother in the second half of the year” because of tougher comparisons. According to Neves, in the first nine days of June, GGR totaled less than MOP 3.9 billion (average of MOP 430 million per casino). If this average remains steady, June will finish with MOP 12.9 billion GGR, up 54.7% YoY.
IM believes the relatively soft GGR in the first week of June was due to the anticipation of the three-day public holiday for the Dragon Festival on the mainland, which starts today. IM does not believe this slowdown will continue for the rest of June.
GALAXY MACAU TO OPEN IN MARCH Macau Daily Times
Galaxy Entertainment's Peter Caveny said that the Galaxy Macau resort on Cotai will open in March 2011.
In other news, the president of Philippine Amusement and Gaming Corporation (PAGCOR), Rafael Butch Francisco,said the Manila Bay integrated resorts are likely to attract many Filipino nationals currently working in Macau. Around 40,000 jobs would be created, he added. Francisco believes the wages in the Manila Bay integrated resorts will match the MSAR ones “in three, four more years," which he hopes would entice the Filipinos workers to return home.
PACKAGE TOURS AND HOTEL OCCUPANCY RATE FOR APRIL 2010 DSEC
Visitor arrivals in package tours increased by 20.3% YoY to 572,157 in April 2010. Visitors from Mainland China (429,510) and Hong Kong (22,594) rose by 17.8% and 6.3% respectively. At the end of April 2010, total number of available guest rooms of the hotel sector increased by 2,053 (+11.7%) YoY to 19,631 rooms. A total of 664,286 guests checked into hotels and guest-houses in April 2010, up by 15.1% YoY.
MORTGAGE LOANS CONTINUE TO INCREASE macaubusiness.com
For the first quarter of 2010, new RMLs approved by Macau banks increased by 5.4% QoQ (208.3% YoY) to MOP7.0 billion. New CRELs approved decreased by 16.0% QoQ to MOP5.3 billion but increased 164.3% YoY.
At the end of March 2010, the delinquency ratio for RMLs stood at 0.15%, down 0.04% points from three months earlier The ratio for CRELs went up 0.11% points from the previous quarter.