Macau’s casino business industry recorded yet another month of growth in June as the market showed it’s still the place to be in Asia. June saw gross gaming revenue for the enclave’s casinos rise 12.2 percent compared with the year before to MOP23.3 billion ($2.92 billion), according to figures released by the Gaming Inspection and Coordination Bureau. The doom-mongerers had a field day after it was the second lowest growth figures so far this year and didn’t reach the 15 percent rate that many analysts had projected.
June is traditionally a slower month for the enclave though and combined with the falling of demand it has meant China’s favorite gambling industry destination slowing down. Analysts have continued to stay “bullish” on the enclave’s casinos, according to Reuters, and for the first six months revenues hit MOP148.7 billion – an increase of 19.8 percent compared to 2011.
Attempting to fill some of the short fall will be a new TurboJet ferry between the enclave and Hong Kong. The service runs from the ferry terminal at Taipa to Sheung Wan in Hong Kong and is one of three that the Macau Maritime Administration has approved, the other two linking Cotai with Shekou in Shenzhen and Wanzai in Zhuhai on the Mainland. It led Union Gaming Group analysts, led by Bill Lerner, to admit that as many as a million extra visitors could be attracted by the new crossings. The group also stated that “the additional ferry sailings would be a positive” for all Macau gaming interests before adding there is “greater benefit for Cotai operators especially Sands China Ltd.”
Beijing has approved changes put forward by Macau’s politicians. The reform increases, by 2, the number of directly elected and indirectly elected members of the Legislative Assembly as well as increasing the amount of members of the committee that elect the chief executive from 300 to 400. The next election for the Legislative Assembly is in 2013 and a new chief executive will be chosen in 2014.