Macau's third-quarter gross gambling revenue rose 14% year-on-year, but fell 1.4% quarterly.
According to the data from the Gaming Inspection and Coordination Bureau of Macau, the gross revenue from VIP baccarat gambling in the third quarter was 55.602 billion Macau Patacas, a 1.4% decrease quarterly and an increase of nearly 14% annually. VIP baccarat gambling revenue in Macau for the third quarter of this year was 13.082 billion yuan. The cumulative gross revenue from VIP gambling in Macau for the first three quarters of this year was 169.35 billion yuan, a 31% year-on-year increase, equivalent to over 76% of the same period in 2019.
Macao's Office of the Secretary for Administration and Justice: New law to combat money exchange organizations expected to be bullish for the gambling industry
According to the Macau Radio, the "Law on Combating Unlawful Gambling Crimes" has been passed by the Macao Special Administrative Region Legislative Assembly. The law will take effect on the day after its publication. The law includes combating the exchange activities commonly known as "money changers," which can be punished with up to five years' imprisonment. Macao's Secretary for Administration and Justice, Zhang Yongchun, stated that exchanges between friends are not illegal, but if they involve unapproved operations by the Macao government, whether occasional or continuous, and the purpose of the exchange is for gambling, they are considered illegal and will be criminally penalized. Exchanges within Macao's entertainment venues are presumed to be for gambling purposes, including places connected or related to entertainment venues, and cited an example of a comprehensive
Daily Bulls and Bears | Hong Kong stocks net inflow of 28 million Hong Kong dollars in light positions, with a bull-bear street ratio of 63:37; Galaxy Ent fell more than 5% yesterday, while put warrants rose over 5 times.
As of the close of yesterday, the market turnover was 208.369 billion Hong Kong dollars, with a total turnover of 19.177 billion Hong Kong dollars for all warrants. This accounts for 9.2% of the market turnover, with 5.1% held in the 'good depot' category and 4.1% in the 'weak depot' category.
Hong Kong stocks: Hang Seng Index fell 31 points, mainland real estate stocks surged while consumer stocks softened.
After falling more than 700 points yesterday (the 13th), the Hang Seng Index fluctuated soft today (the 16th), opening low with a 174-point decline before reversing gains, rising to 229 points at 20,548 points, then falling back again before the market close, ending the day with a 31-point or 0.2% decline at 20,286 points; the H shares Index fell by 9 points or 0.1%, closing at 7,267 points; the Hang Seng Tech Index dropped by 48 points or 1.1%, closing at 4,402 points. The total turnover of the market shrank to 208.369 billion yuan for the day. The Ministry of Housing and Urban-Rural Development, together with the People's Bank of China, will hold a press conference tomorrow (the 17th) to promote the development of the real estate market. Mainland real estate stocks surged, with Country Garden (01918.HK) and Sunac China Holding Ltd.
In Macau, the third quarter tourism price index of indices rose by more than 4% per quarter, benefiting from the rebound in hotel room prices during the summer vacation.
The Statistics and Census Service of Macao recently announced that the Macao tourism price index for the third quarter of this year was 147.22, up 4.29% year-on-year. Among the price indices of major categories, the price index of jewelry increased by 13.68% year-on-year, driving the price index of miscellaneous items to rise by 6.14%, the price index of clothing and footwear to rise by 3.52% year-on-year, and the price index of lodging and dining to rise by 3.52% year-on-year.
Hong Kong stocks fluctuate | Macau casino stocks continue to decline, with Macau casino profit margins under pressure. Institutions expect the industry's EBITDA in the third quarter to decline compared to the previous quarter.
Macau casino stocks continued to decline. As of the time of publication, galaxy ent (00027) dropped by 4.29%, closing at 35.7 Hong Kong dollars; Sands China (01928) dropped by 4.17%, closing at 18.4 Hong Kong dollars; mgm china (02282) dropped by 3.87%, closing at 10.44 Hong Kong dollars.