VIP revenue in the enclave is set to go south for a second consecutive month. Brokerage firm Nomura expect that VIP revenue in August will drop by “mid-single digits” compared with last year whilst at the same time mass-market will be up by the “high teens”. The overall figure they put on gross gaming revenue for the month is between MOP24bn and MOP25bn, and it will have a hard time beating last year’s figure of MOP24.8bn.
Melco Crown Entertainment have been given permission to restart work on the Macau Studio City project. The Lands, Public Works and Transport Bureau told Business Daily: “With regard to requests for renewal of the permit for piling and foundation works, they have already been approved by the Administration”. Still no word on whether the venue will include gaming industry facilities with analysts predicting that it should eventually have a casino of some form.