Non-gaming revenues rise, but offering fails to inspire
Chinese Premier Li Keqiang praised Macau’s efforts to diversify its economy during a three-day visit last year, but market experts say operators are still trying to get the recipe right when it comes to non-gaming attractions and face an uphill struggle.
Macau, spurred by Beijing, has been seeking to boost its non-gaming sector since gaming revenues spiralled downwards in 2014 on the back of a crackdown on corruption.
While gambling is still given as the major reason for Chinese visitation to Macau today, a recent survey released by Bernstein Research noted that certain non-gaming offerings were increasingly being cited as a factor for Chinese visitation.
“Most visitors view gaming as an extension of the holiday experience, but not necessarily the only reason for visiting Macau. Shopping and dining are important aspects, with time spent on both surpassing hours spent gaming,” said the brokerage.
According to Bernstein, visitors spent an average of 2.6 hours...
Singapore police have busted at least two illegal gambling operations in the past week, while across Asia authorities have moved to stamp out illicit activities, from raids on premier league matches in India, to illegal number forecasting in Malaysia.