Galaxy Entertainment Group Ltd (0027.HK)
25 Jun 2019
MACAU Macau's casino operators have pledged billions of dollars to develop non-gaming attractions in a bid to secure new licenses, but analysts predict only the more efficient like Sands China and Galaxy will be able to curb losses and emerge winners.
* Sands, Galaxy top picks for analysts in utilising non-gaming
HONG KONG (Reuters Breakingviews) - Macau’s plan to mimic Las Vegas is getting a reality check. Millions of Chinese visitors have swarmed the tiny territory since the opening of a new bridge connecting it to the mainland. Yet authorities don’t seem to know what to do with them, and are mulling a tourist tax to slow the flows. The city’s economic diversification strategy is due a rethink.
* 2022 expiry likely to hang over shares - analysts (Adds share reaction)
HONG KONGMacau casino operator Galaxy Entertainment Group Ltd posted a 29 percent rise in profit for 2018 due to robust demand from gamblers in the world's biggest casino hub.
HONG KONG, Feb 28Macau casino operator Galaxy Entertainment Group Ltd posted a 29 percent rise in profit for 2018 due to robust demand from gamblers in the world's biggest casino hub.
Gambling revenue in the Chinese territory of Macau dropped 5 percent in January, the first drop in more than two years, as appetite for gambling waned amid slowing economic growth and increased headwinds from the Sino-U.S. trade war.
* Jan revenue figure still in-line with last year's monthly hauls