BUSINESS

Today’s Macau gambling news round-up

TAGs: Galaxy Entertainment Group, Galaxy Macau, Macau, Nomura, table dealers

MacauThe average earnings of table dealers in  Macau’s casinos increased by 8% last year, to $1,838 by the end of December, and was above the inflation rate for the same period, which stood at 5.81% for the whole of 2011.

A report by Macau Business reveals by the year’s end, Macau had over 22,300 dealers, up by 16.7% in comparison with one year before.

As for average earnings of all full-time employees in the gaming sector stood – those were up by 6.5% year-on-year, which was also above the inflation rate. Overall, Macau’s gaming sector had 50,200 employees by the end of last year – up 12% year-on-year.

 

Details have emerged regarding the second phase of Galaxy Macau’s project refering to its targeted opening date.

The property, owned and managed by Galaxy Entertainment Group Ltd, will be completed by 2016, before the Hong Kong-Macau-Zhuhai bridge begins operations – according to the assistant investor relations manager at the gaming operator, Yoko Ku, who told Bloomberg.

The South China Morning Post also quoted Francis Lui Yiu Tung, the vice-chairman of Galaxy Entertainment Group, as saying Galaxy Macau’s second phase will double the property’s size and add more non-gaming elements to it, such as meeting rooms.

 

Nomura, the equity research powerhouse, has betted on Macau’s casino industry, with its analyst Harry Curtis writing in an investors’ note that Macau´s March casino gross gaming revenue could reach US$3.19 billion, that’s up by 27% year-on-year.

However as highlighted by Macau Business, investment bank, Citigroup, says that Macau’s gross gaming revenue is expected to rise 30% this year in the mass market segment versus 16% growth for the VIP segment.

Analysts led by Anil Daswani also wrote in a report that the boost in mass market business should drive continued margin improvements, particularly at Melco Crown Entertainment Ltd, Sands China Ltd and Galaxy Entertainment Group Ltd.

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