Daniel Beitler
One year ago, gross gaming revenue (GGR) reached its absolute bottom, ending a two- year sustained contraction in the city’s dominant industry. After the MOP15.88 billion recorded in June 2016 (the lowest figure since September 2010) things could only get better. And they did, continuing since then to ebb and flow in an upward trajectory.
GGR in June 2017 will be announced in just under two weeks and is likely to record significant year-on-year growth due to the low base in the comparison month.
The growth is likely to be at least in line with last month’s 23.7 percent year-on-year rise, despite the fact that June is historically a poor-performing month in Macau, recording a lower take than May every single year since 2010.
Should June GGR hold the same as May – breaking a six-year trend – then the year- on-year growth will amount to more than 43 percent. If it falls from the MOP22.74 billion recorded last month to MOP20 billion, we are looking at almost 26 percent year-on-year growth.
This time last year, we didn’t yet know that GGR had reached its absolute bottom, as many analysts had been predicting an end to the two-year recession for quite some time before that.
Had we known that the recession was finally over in June last year, it would have been the biggest story of an otherwise unusually quiet month. Here’s a look at some of the issues that were dominating the media discourse instead:
– Taishan Nuclear Plant: It is revealed that the controversial plant, located just 67 kilometers from Macau, was being constructed with components from mainland China, as opposed to France as was initially publicized. Mainland authorities stressed that the components were of a high quality, but a history of negligence at the hands of mainland construction firms, casts doubts over the safety of the project. The recent revelation of questionable concrete used on the Hong Kong-Zhuhai-Macau Bridge should only add to our concerns.
– Jinan University Donation: The Commission Against Corruption concludes one of its speediest investigations into a RMB100 million donation, officiated by the chief executive, to the mainland’s Jinan University. The bureau finds that the donation neither breached the law nor presented a conflict of interest for Macau’s head of government, who has an interest in both the MSAR and the education institution.
– St. Augustine Church: Heavy rain results in damage to the roof of the historical church, prompting the Cultural Affairs Bureau to admit that a total of four heritage sites are at risk of collapse. A report was not sent directly to UNESCO, as per the standards of the cultural institute of the United Nations, but instead to China’s Ministry of Culture.
– Five Year Plan: The Government conducts a consultation period for the city’s first ever Five-Year Development Plan. It finds that more than 80 percent of the expressed opinions support the plan, though it is sharply criticized for its vagueness by lawmakers and local public figures.
– Anim’Arte Nam Van: The lakeside promenade, seen by the government as a “landmark for leisure, culture and creativity,” is formally opened. Soon after, the area was criticized by the public for failing to meet the expectations set at its launch, specifically due to a lack of activities and attractions.
– Integrated Shuttles: Three casino operators, Galaxy Entertainment Group, (formerly) Melco Crown Entertainment and Sands China agree to trial an integrated shuttle service in the territory. Designed to reduce road congestion, the three-month trial of the “Cotai Connection” is never heard of again.
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