Posts Tagged ‘Macau tourism’

Macau casinos soar on strong VIP play

March 10, 2017

Aided by Chinese New Year crowds, February was Macau casinos’ best month in two years. Despite the much-discussed pivot toward mass tourism, VIP play is again leading revenue growth, though some doubt the trend’s sustainability.

Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is a blogger for Forbes, editor at large for Inside Asian Gaming and author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com; follow him on Facebook and Twitter @MuhammadCohen.

Macau finishes on high note but 2016 a loser

January 16, 2017

Continuing its tourism driven turnaround, Macau’s casino revenue rose in December but fell for the year.

Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is a blogger for Forbes, editor at large for Inside Asian Gaming and author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com; follow him on Facebook and Twitter @MuhammadCohen.

Macau comeback reflects new focus

December 8, 2016

Beyond resilient high roller revenue, Macau’s comeback shows a shift to more general tourism. But as a tourist destination, Macau remains a work in progress.

Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is a blogger for Forbes, editor at large for Inside Asian Gaming and author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com; follow him on Facebook and Twitter @MuhammadCohen.

Macau powers to best gain in 31 months

December 4, 2016

After 26 straight monthly declines, Macau’s gaming revenue grew 14.4% in November, the highest rate since April 2014, with both high rollers and tourists playing key roles.

Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is a blogger for Forbes, editor at large for Inside Asian Gaming and author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com; follow him on Facebook and Twitter @MuhammadCohen.

China pet project could dog Macau

June 21, 2016

Development of Guangdong Province’s neighboring Hengqin island is supposed to make Macau a bigger tourist draw. But this pet project of President Xi Jinping could compete with Macau without policy changes to let visitors flow freely over the border.

Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is a blogger for Forbes, editor at large for Inside Asian Gaming and author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com; follow him on Facebook and Twitter @MuhammadCohen.

Macau casino revenue slump hits 24 months

June 5, 2016

Amid Chinese President Xi Jinping’s anti-corruption campaign and slowing economic growth on the mainland, Macau’s casino revenue fell for the 24th straight month in May.

Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is a blogger for Forbes, editor at large for Inside Asian Gaming and author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com; follow him on Facebook and Twitter @MuhammadCohen.

More Chinese New Year visitors, still less Macau casino revenue

March 9, 2016

In February, casino revenue fell in Macau for the 21st consecutive month from the previous year, even though visitor arrivals rose during the Chinese New Year holiday period.

Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is a blogger for Forbes, editor at large for Inside Asian Gaming and author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com; follow him on Facebook and Twitter @MuhammadCohen.

Macau hopes casino losing streak ends at 20

February 11, 2016

In January, Macau’s gaming revenue fell for the 20th straight month compared to a year earlier. But Chinese New Year and aberrantly low February 2015 revenue could mean that Macau revenue ends its losing streak this month. But one uptick doesn’t make a recovery.

Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is a blogger for Forbes, editor at large for Inside Asian Gaming and author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com; follow him on Facebook and Twitter @MuhammadCohen.

Macau casino minimum bets soar

May 26, 2014

Macau keeps raising the minimum bets at its tables. “If you’re betting $50 a hand, you can’t play in my casino on weekends,” one executive told me. In the short run, it’s about maximizing profits from a limited number of tables. But in the long run, high costs for play, along with expensive hotel rooms and shopping, may alienate visitors, good news for less expensive regional rivals such as the Philippines, Cambodia and Vietnam.

Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is a blogger for Forbes and author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com; follow him on Facebook and Twitter @MuhammadCohen.

New mainland visitors invigorate Macau

February 3, 2014

Macau’s gaming revenue topped $45 billion last year, about seven times the house take in Las Vegas. But the real excitement is about where visitors are coming from.

The majority of mainland visitors to Macau, 18.6 million last year, no longer come from immediately neighboring Guangdong province. Travelers from more distant parts of China are arriving in greater numbers. As I wrote in Journey to the South (page 68, payment required), that’s a very welcome development.

Sources interviewed for the article in the January issue of Macau Business pointed out that these guests, mainly from northern and central China, tend to stay longer and spend more. They’re more likely to treat their trip to Macau as a vacation, or at least an occasion, rather than a surgical strike on baccarat tables.

Half of the visitors to Macau don’t even stay a night, walking back across the border into Guangdong or taking a ferry back to Hong Kong. Visitors traveling from greater distances are more likely not only to stay in hotels, but take in Macau’s sights, eat in its restaurants, and maybe even sample its small but growing roster of entertainment options beyond the casino floor.

Even more mainlanders will be heading south with the arrival of Chimelong, a popular mainland theme park operator, on Guangdong’s Hengqin Island, within spitting distance of Macau’s Cotai casino cluster, its version of the Las Vegas Strip. Chimelong’s International Ocean Kingdom, phase one of five resort development plan, opened last week, just in time for the Chinese new year holiday. Analysts at Union Gaming Group estimate Chimelong will attract up to 2 million visitors this year, and Chimelong officials have targeted 20 million annually when it’s complete. China’s official news agency acknowledged many Chimelong guests will cross the bridge to Macau as part of the trip.

Macau and mainland authorities have long urged Macau to diversify its revenue beyond gaming, hoping that it can someday mirror Las Vegas, where casino resorts record most of their revenue from non-gaming sources, including hotels, shows clubs and restaurants. Visitors from northern and central China nudge Macau’s needle in that direction.

But it’s a faint shadow of what the authorities wanted when they brought the creators of modern Las Vegas, Wynn Resorts founder Steve Wynn and Las Vegas Sands founder Sheldon Adelson, to Macau. Officials expected they’d transform Macau into an international travel and convention destination. Instead, ten years after Adelson opened Sands Macao to begin Macau’s boom, getting mainland visitors to travel a few hundred miles to get there constitutes cause for celebration.

Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com; follow him on Facebook and Twitter @MuhammadCohen.


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