Chinese ‘Golden Week’ saw good business in casinos

Tuesday, October 13, 2009
Issue 842, Page 3
Word count: 376
Published in: Macau Daily Times

By Poyi (Natalie) Leung

Dr. Ambrose So, the director of Sociedade de Jogos de Macau (SJM), said yesterday satisfactory revenue was reported during the Chinese National Day “Golden Week” early this month.

He also said that during the first four days of the public holidays, around 400 million patacas of revenue was recorded.

However, he added that business seemed to be “quite quiet” these days after the “Golden Week” was over.

Dr. So attended the meeting of the Chamber of Macau Gaming Operators yesterday due to the absence of 87-year-old Dr. Stanley Ho, the CEO of SJM who is being hospitalised after a brain surgery in Hong Kong.

When asked by reporters whether the gaming industry of Macau had already gone through the worst time, the SJM director said the gaming revenue in August and September, respectively at 11 billion patacas and 10.9 patacas, was “quite ideal” and showed signs of growth.

“But we can’t expect the gaming revenue to grow massively as like in previous years. It has now returned to a healthy growth and I believe this is beneficial for the industry to achieve sustainable development,” Dr. So said.

On the other hand, Dr. So said that the concessionaires and sub-concessionaires have reached a consensus that “the gaming industry cannot be expanded forever without any restrictions”.

“The expansion of the consumer industry has affected the other industries in Macau and also twisted the labour market.. It’s reasonable and logical for both the government and gaming operators to think about the overall size of the market,” he said.

“As one of the concessionaires, we’re facing an ever increasing labour cost. If we allow expansion of the industry, people will be pitching people with high salaries and this will have a complete twist on the entire labour market, which is not healthy for the overall development of Macau,” he added.

Dr. So also said that SJM did not yet have a specific ideas about how to regulate the scale of the gaming industry.

“There is no deadline. The government welcomes proposals for further discussions,” he said.

In regard to the health concern of Dr. Stanley Ho, the SJM director said he was recovering well and in a “very stable condition”, adding “we hope that he will soon be fully recovered”.

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