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Gaming receipts at ten-year-low in 2014, but costs still rise


 

Total receipts from Macau’s gaming sector dropped by 2.5 percent year-on-year to MOP354.06 billion ($44.35 billion) in 2014, marking the first decrease since 2004 when the survey was launched, though casino costs continue to gain, according to official data.

The Statistics and Census Service said that owing to the decline in gross gaming revenue since June 2014, receipts from gaming and related services, such as food & beverage and currency exchange, amounted to MOP 353.64 billion, of which gaming receipts decreased by 2.6 percent while receipts from food and beverage rose by 8.8 percent to MOP 613 million.

Meanwhile, according to the preliminary statistics from Public Security Police Force, the overall visitor arrivals in Macau during October Golden Week hit 1.06 million, a year-on-year rise of 2.72 percent. A total of 906,652 visitors came from the Mainland and the figure went up by 7.11 percent compared with that of 2014.

According to figures provided by local trade, the average occupancy rate of 3 to 5 Star hotels was 86.86 percent during the Golden Week, a year-on-year decline of 0.3 percent. Up to date, the total number of rooms provided by all hotels and guest houses in Macau has climbed up to 30,526.

However, the cost base for casinos in the city showed no corresponding decline. Operating expenses were up by 16 percent to MOP 24.56 billion, of which expenses on complimentary hotel accommodation rose by 21.7 percent and 31 percent respectively.

Employee costs, the biggest expense factor for the operators, gained 17.3 percent to MOP 18.97 billion.

Gross Value Added, which measures the sectoral contribution to the economy amounted to MOP 225.25 billion, down slightly by 0.3 percent year-on-year.

In 2014, the number of gaming enterprises in operation stayed at 10. Total number of full-time employees rose by 3.5 percent year-on-year to 57,757, down from the 3.7 percent growth in 2013.

 

 

Asia Gaming Brief is a news and intelligence service providing up to date market information for worldwide executives on relevant gaming issues in Asia.

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