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New Macau-Hengqin border checkpoint begins operations

Macau has opened a new border checkpoint connecting to Hengqin in Zhuhai, replacing the Lotus Bridge checkpoint. The checkpoint is located in an area within...

Galaxy sees further Covid headwinds, but committed to expansion plans

Galaxy Entertainment said it expects further headwinds from the Covid-19 pandemic after reporting a Q2 loss, but said it remains committed to its expansion plans and its pursuit of a license in Japan. 
Macau border (file)

Macau solicits tourism tax opinion as visitation concerns mount

Macau’s tourism body is studying whether to impose a tourism tax amidst concern the territory may not be able to handle a sharp increase in visitors as connectivity with the mainland improves.

Macau Legend agrees to buy 21.5 percent stake in Hengqin venture

Macau Legend Development said it has agreed to buy a 21.5 percent stake in a company that operates a large-scale shopping complex on Hengqin...

Views Hainan promotion to impact Hengqin “ill-informed”

In my view as a Hengqin-centric investor and investment consultant, April’s announcement of tourism development plans for Hainan Island will have zero meaningful impact...

Hainan liberalization no threat to Macau for now

China’s plans to allow the development of horse racing and to expand sports betting on the southern island of Hainan will not include casinos...

Sands China checks out Zhuhai’s Hengqin New Area

A group of Sands China team members visited attractions in Zhuhai’s Hengqin New Area this week, according to a press release from the company...

For the thrill of it: Does Macau have a role in China’s theme-park craze?

With the construction of a theme park on the cards for Galaxy Macau, could this form of family friendly entertainment prove crucial in enticing mass-market tourists in their droves? A natural byproduct of China’s burgeoning middle class has been more discretionary money to spend. Research from the Boston Consulting Group predicts that China’s consumer economy will expand by about half, to $6.5 trillion, by 2020 with services overtaking goods as the chief engine for spending. The booming theme-park market is likely to be a key beneficiary, but could it drive traffic to Macau?

Macau changing its game

Macau Chief Executive Fernando Chui Sai On sent a clear message to the casino industry in the first policy address of his second term in office this week - the government is no longer just paying lip service to diversifying the economy away from gambling. The territory, which in just over a decade has grown its industry to be more than seven times the size of Las Vegas, is currently dependent on gambling for 85 percent of its income. However, after nine straight months of declining revenue that triggered a 17 percent contraction in Q4 gross domestic product, Chui said the industry is going through a phase of “adjustment.”The territory, which in just over a decade has grown its industry to be more than seven times the size of Las Vegas, is currently dependent on gambling for about 85 percent of its income. However, after nine straight months of declining revenue that triggered a 17 percent contraction in Q4 gross domestic product, Chui said the industry is going through a phase of “adjustment.”The government has cut its projected revenue from gambling receipts this year to average 20 billion patacas ($2.5 billion) a month from 27.5 billion patacas, while analysts are forecasting a second year of contraction, possibly by as much as 30 percent, according to Deutsche Bank.In his address, Chui said the government will strengthen its oversight of the casino industry as licenses come up for renewal and may require the companies to regularly submit their investment and development plans for review, in particular with regard to non-gaming activities. A tourism panel, under Chui’s supervision, will draft a five-year plan for stable casino growth that will make the region less reliant on casino revenue. Macau, Chui said, will become a center of tourism and leisure travel.

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