A group of men cross the street in a section of the glitzy Cotai Strip in Macau. Regulations governing the world’s largest casino market are set to change in the coming years. (Image: Getty)
Led by Macau Legislative Assemblywoman Ella Lei Cheng I, a group of legislators in the Chinese Special Administrative Region (SAR) say the Gaming Inspection and Coordination Bureau (DICJ) should produce a detailed evaluation. The review would cover how the six casino giants have adhered to the region’s gaming laws during their concession tenures.
“We thought that the government could release an assessment on how the gaming companies have exercised their contracts for the past 20 years so that the public could have a better grasp of information before the consultation takes place,” Lei said, as relayed by
国际大行最新评级：大摩上调港华燃气目标价至6港元 富瑞维持腾讯买入评级 _ 东方财富网
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港美研报干货专享：布局港股 黄金坑 ！怎么看全球通胀重要推手海运价格走势？ _ 东方财富网
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Macau casino operator Galaxy Entertainment Group Ltd saw strong gaming earnings relative to the earlier part of the year, during the five-day holiday encompassing Labour Day on May 1, said brokerages Sanford C Bernstein Ltd, and Jefferies Hong Kong Ltd in respective Thursday memos, citing commentary from the gaming firm’s management.
The improvement was led by premium-mass play, and was accompanied by high levels of hotel occupancy, and strong sales in the luxury retail segment, said the institutions, in notes issued after highlights of Galaxy Entertainment’s first-quarter earnings were filed with the Hong Kong Stock Exchange. The company’s flagship resort is Galaxy Macau, (pictured in a file photo) on Cotai.
Macau casino operator Galaxy Entertainment Group Ltd reported on Thursday first-quarter adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) of HKD859 million (US$110.6 million), up 203.5 percent from the prior-year period. The figure was down 15 percent sequentially.
Revenue for the period was HKD5.07 billion, up 0.5 percent from a year earlier, but flat from the fourth quarter of 2020. Net gaming revenue decreased 4.7 percent year-on-year, to nearly HKD3.86 billion. The figure was up 5.6 percent sequentially.
The numbers were given in a summary filed with the Hong Kong Stock Exchange.
Galaxy Entertainment runs its flagship casino resort Galaxy Macau (pictured) on Cotai; the StarWorld Hotel, the group’s main venue on Macau peninsula; and Broadway Macau, the mass-market focused property next door to Galaxy Macau.