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Why Huazhu Group Is Up More Than 13% Today
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GGRAsia – Grand Lisboa Palace launch might be delayed to 3Q: MS
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LANES NO LONGER land in Kai Tak, Hong Kong’s old airport. But nostalgists can stroll along the new “sky garden”, an elevated walkway lined with frangipani, myrtle and acacia, that passes above the old runway. By scanning a
QR code along the route, visitors can “augment reality” by superimposing an image of a landing plane on their selfies. The park is part of a redevelopment plan that will eventually yield a hospital, tax office and new homes for tens of thousands of people. On either side of the walkway, cranes, diggers and welders labour busily to augment the reality of Hong Kong’s cramped and pricey housing.
The Morgan Stanley banking group has cut by 19 percent its estimate for Macau market casino gross gaming revenue (GGR) generated this year.
The bank said its downward revision was due to “continued delay” in easing of travel rules relating to movement between Hong Kong and Macau, and between mainland China and those places.
“Despite a reduction in new Covid-19 cases in Asia, the conditions to open,” travel, “without many restrictions, are more onerous,” wrote analysts Praveen Choudhary, Gareth Leung and Thomas Allen.
The banking group now thinks Macau’s 2021 GGR will be just under MOP130.19 billion (US$16.3 billion), which would still be up 115.4 percent year-on-year on the MOP60.44 billion achieved in 2020, when disruption to inbound tourism due to the Covid-19 pandemic was at a height.
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