Gaming operators finish over 20 pct of pledged projects, study finds

 set25

Over one fifth of the investment projects pledged by casino operators have been completed, as per the Asia Pacific Association for Gambling Studies.

The estimate comes in a fresh update from the group of scholars and experts on the gaming sector, which they believe generated MOP70.8 billion (US$8.84 billion) in non-gaming revenue between 2023 and 2024.

The association is headed by Zeng Zhonglu, an emeritus professor at the Macao Polytechnic University.

It is believed that last year alone, non-casino revenue exceeded 2019 levels by 12 per cent.

When it came to contributions to public finances, 2023–2024 tax revenue from these casino operators reached MOP164 billion, accounting for 76 per cent of current revenue and capital income.

On local employment, the group estimates that these gaming companies hired 77,951 locals between 2023 and 2024 — or approximately 27.3 per cent of the city’s entire workforce.

Other positive contributions outlined by the group included these companies’ capabilities to attract travellers seeking family attractions.

The share of visitors aged under 15 climbed from 5.9 per cent in 2019 to 7.3 per cent in the January–July period of 2024, with July hitting an even higher level of 11.5 per cent.

https://www.macaubusiness.com/casino-operators-finish-over-20-pct-of-pledged-projects-study-finds/

Comments

Post a Comment

Popular posts from this blog

2022-2024 reforms corrected Macau’s casino industry imbalance

Image
 ab25 The new regulatory framework overhaul that was implemented through reforms in 2022 and 2024 led to “major corrections” in the  Macau  casino industry rather than routine updates, aimed at fixing what had become a dangerously unbalanced system after two decades of breakneck expansion, gaming law expert Jorge Godinho argues in a recent study. “There were too many gaming promoters and VIP rooms, too much credit for gaming, and too much money moving out of China,” Godinho writes in his  study ,  The Macau SAR Regulation of Casino Gaming: Structural Features After the Reforms of 2022–2024 . Jorge Godinho, Gaming Law Expert “Numerous casinos were built, but not that many non-gaming services were developed.” The reforms come after years of unsustainable growth, followed by sharp decline during the COVID-19 pandemic. The gaming industry peaked in 2013/14 but entered what Godinho describes as “a bumpy ride that became a freefall.” Macau’s reliance on high-rolling V...
Read more

RFID or smart chips (technology) smart gaming tables (AI) social casinos

Image
may25 A DICJ pretende elevar a gestão “inteligente” do sector do jogo, através da introdução de tecnologia informática, indicou a nova dirigente do organismo, Ng Wai Han   A nova directora da Inspecção e Coordenação de Jogos (DICJ), Ng Wai Han, está apostada em “elevar o nível de gestão inteligente do sector, por forma a que este se desenvolva de forma saudável”. Para isso, “serão introduzidas tecnologias informáticas” na área do jogo, indicou, na cerimónia de tomada de posse. Com uma vasta experiência na área da Administração Pública, designadamente no desenvolvimento da governação electrónica e na optimização dos procedimentos administrativos, Ng Wai Han dirigiu anteriormente os Serviços de Administração e Função Pública (SAFP). Na toma de posse, prometeu ainda que irá empenhar-se “na coordenação e supervisão da implementação efectiva dos elementos não jogo, no sentido de contribuir para a diversificação adequada da economia de Macau e para o desenvolvimento articulado de diferen...
Read more

The rise and fall of Macau’s pawnshops

 out25 Macau’s pawnshop industry, once a thriving pillar of the city’s casino economy, has seen its fortunes plummet from over 200 establishments at its 2014 peak to just 56 today. A fourth-generation pawnbroker charts the sector’s dramatic rise and fall — and warns of further decline ahead. By Jing Wu (text) and Gonçalo Lobo Pinheiro (photos), Lusa Alexander Wai Kai Leong, 39, the fourth-generation owner of Veng Seng Pawnshop, is a man whose story is told in gold and jade — and his first impression is striking, thanks to the jewellery he wears. A gleaming gold watch and a gold ring set with a vivid green jade stone immediately draw the eye to his left hand. His right hand is equally adorned: a golden dragon ring coils around his index finger, and a large ruby sparkles on his ring finger. A string of wooden prayer beads wraps his right wrist, completing the ensemble. Leong’s family legacy began in 1940, when they owned eight pawnshops in Hong Kong. At the time, during the Second Si...
Read more