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MGM chief expects better gaming business next year

Wed, 11th Sep 2019

MGM China Holdings CEO and Executive Director Grant Bowie said on Tuesday that the gaming revenue in the second half of this year was affected by negative growth, a situation that he described as serious.

However, Bowie was quick to add he believed the income situation would improve next year.

Bowie made the remarks while speaking to reporters on the sidelines of a public event, according to a report by government-owned broadcaster TDM.

Bowie also said that compared to Macao’s “similar situation” in 2014, the current impact was less severe, as the six gaming operators had prepared beforehand for negative revenue growth, the report said.

According to the Macau Post Daily, Bowie was also quoted as saying that he was optimistic about the economy in the fourth quarter, pointing out that this year marks a double celebration resulting in many celebratory events, and therefore he expected the number of tourists to increase.

However, regarding the current situation in Hong Kong, he could only have a “wait-and-see attitude” as far as the number of visitor arrivals was concerned.

The double celebration refers to the 70th anniversary of the founding of the People’s Republic of China (PRC) and the 20th anniversary of Macao’s returns to the motherland.

According to official statistics, Macao’s gross gaming revenue fell 1.9 per cent year-on-year in the first eight months of the year to 198.2 billion patacas. However, Macao’s visitor arrivals rose 20 per cent year-on-year to 23.8 million in the first seven months.

(The Macau Post Daily/Macau News)