Each November during the Macau Grand Prix, Macau wakes up with a jolt as more than 200 racing drivers and riders, as well as thousands of motor sports fans, descend on the territory for the world’s only international street circuit race meeting which features both car and motorcycle races.
The 61st running of the legendary event, the Macau Grand Prix 2014 will be held with a total of three days of extraordinary racing from November 13th to 16th.
Macau Grand Prix Straight
The program is unprecedented in its depth of talent, diversity, and prestige, with an impressive combination of exciting young talent, established stars and the world’s most famous names in automotive excellence.
While a lot of the food is the same as in Hong Kong and China, you can also find exotic East-meets-West flavors thanks to Macau’s Portuguese roots. And you want to know the best part about these delicious blends? Most of them come in the form of desserts.
Pansy Ho Chiu King, co-chairperson of casino operator MGM China Holdings Ltd, on Friday indicated the downturn in Macau gross gaming revenue (GGR) would help Macau gaming operators become more efficient, more competitive.
Wells Fargo Securities LLC senior gaming analyst and managing director Cameron McKnight says he expects Macau’s casino gaming market to grow to be worth US$100 billion (about MOP800 billion) a year by 2020, Business Daily reports.
The newspaper quotes Mr McKnight as saying in an interview that mass-market gaming will lead the growth, and that VIP gaming and junkets will account for smaller proportions of casino gaming revenue than they do now.
But he added: “Like all great growth stories, nothing occurs in a straight line and there are some issues that have to be worked through before growth resumes and that longer-term target is achieved.”
The co-chairman of MGM China Holdings Ltd, Pansy Ho Chiu-king, has said costs and the shortage of workers may put back the opening of the company’s casino-resort in Cotai.
Ms Ho told reporters that that completion of the project might be delayed slightly.
The US$2.6 billion (MOP20.8 billion) casino-resort is scheduled to open in 2016.
JL Warren Capital LLC now thinks gross gaming revenue in Macau’s casinos will probably be about the same this year as last year.
The research house attributes the expected absence of growth to the campaign against corruption in the mainland; sluggishness in the secondary market there for property, a common source of collateral for borrowing by VIP gamblers; the credit crunch for junket operators; the dimming of prospects for global economic growth; the political demonstrations in Hong Kong, which are curbing the flow of visitors from the mainland to Macau; and new restrictions on smoking in Macau casinos.
JL Warren forecasts that gross gaming revenue this month will be 20 percent lower than a year ago.
Macau’s gross gaming revenue in the third quarter of this year amounted to MOP83.1 billion (US$10.4 billion), 8.9 percent less than in the second quarter, official data show.
The Gaming Inspection and Coordination Bureau says MOP46.8 billion of this revenue came from VIP-market baccarat and MOP27.7 billion from mass-market baccarat.
Revenue from slot machines rose to MOP3.7 billion from MOP3.6 billion.
Revenue from electronic table games rose to MOP586 million from MOP570 million.
Sports lottery revenue fell by 18.7 percent to MOP165 million.
Revenue from betting on horseracing was MOP56 million and revenue from betting on greyhound racing was MOP37 million.
The government says bars, clubs, saunas and massage parlours must comply with the ban on smoking indoors as soon as it comes into force in such establishments on January 1.
Health Bureau director Lei Chin Ion told reporters that no establishment would be given extra time to comply.
Mr Lei said it was difficult to enforce new restrictions on smoking in casinos because smokers were illicitly lighting up in the toilets, instead of confining themselves to designated smoking rooms and VIP gaming rooms – since October 6, the only places in casinos where they have been allowed to smoke.
Massachusetts General Hospital in the United States and prospective healthcare partners in China have agreed to look into forming a joint venture to build and run a hospital on Hengqin Island, just across the border from Macau, Bloomberg reports.
The news agency quotes a Massachusetts General Hospital letter it obtained as saying the Hengqin hospital would give clinical care and support research and medical training.
The letter says Massachusetts General Hospital would run the Hengqin hospital with the Guangdong Provincial Hospital of Traditional Chinese Medicine.
Themed the ‘Maritime Silk Road – From Macau We Begin’, the third edition of the Global Tourism Economy Forum (GTEF) has garnered active participation from Maritime Silk Road countries and regions in the further exploration of business opportunities … World tourism leaders gathering in Macau
The novel ‘O meu irmão’ (My Brother), by Afonso Reis Cabral, is the winner of this year’s LeYa Prize for Literature, worth €100,000, the publisher of the same name announced on Friday at an event at its headquarters in Alfragide, near Lisbon. The 24-year-old author is a great-great-grandson of Eça de Queiroz, one of the […]
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