The Macao casino without fear of Chinese anti-corruption

Sands China (Sands China) released season reports, a quarterly net profit growth of 63% to $453000000. It can be seen, China’s anti-corruption campaign basically failed to block the gamblers into the casino in Macao.

Sands China strong first-quarter results, thanks to the city center (Sands’Cotai Central) opened in Venice and Macao (Venetian Macao) growth. The city center and two projects were opened in April last year and September.

The Chinese parent company — Las Vegas Sands (Las Vegas Sands) chairman Sheldon Edson (Sheldon Adelson) said, a quarter of the Cotai Resort (Cotai Strip) tourist to achieve 14000000 person-time record. Golden Road in reclamation area of Macao’s largest. Edson also said, “the new casino Macao Paris people” (Parisian Macao) the date of opening may be earlier than expected before the end of 2015.

Due to the economic slowdown in China, together with the Chinese government to fight corruption and official travel and gifts, which had expected the gambling and luxury goods, auto sales will be affected.

However, credit Lyonnais securities (CLSA) in the Hongkong consumer and gaming industry research director Yu Yale (Aaron Fischer) said, so anti-corruption effect seems to co..

He said, Macao’s gambling revenue in the year-on-year growth in the first four months of this year is still as high as 14%.

Yu Yale said: “very simple, sands China is the only one able to achieve revenue growth of entertainment, because in Macao full load operation of the occasion, only the city center just opened.”

Yu Yale added that, at present Macao hotel occupancy rate of about 95%, and the average minimum bets on the table in value in the past 12 months doubled to HK $600 from HK $300.

Las Vegas Sands said in March this year, the United States of America because of its alleged violations of “oppose abroad bribery law” (Foreign Corrupt Practices Act), under the United States Department of justice and the SEC (SEC) survey.

Las Vegas Sands group in the first quarter of this year net profit growth of 14.6%, to $572000000, beating analyst expectations. The group says, growth came mainly from Macao and Singapore market.

Another casino operator Genting Singapore (Genting Singapore) said in a quarterly income tax, depreciation and amortisation (Ebitda) from a year earlier to $381400000 to $249700000 ($202100000).

Las Vegas Sands quarter Ebitda growth of 39% to $626400000, of which the city center contributed $131500000. If not the center of the city’s contribution, group Ebitda growth will be lower than 10%, rose by only $44000000.

From the beginning of the next quarter, sands China’s growth rate would not be so strong, because then the base last year will begin to include the new sands Cotai central data.

Sands China shares fell nearly 1% to HK $40.30 yesterday.

The translator / Zou.

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