GAMING | Bowie predicts continued drop in October revenue figures

Grant Bowie

Grant Bowie predicts that Macau’s gaming revenue in October will continue to head south. Nevertheless, he has expressed his confidence in the city and suggested that there are benefits brought by the recent changes in the market.
“The Gaming Inspection and Coordination Bureau (DICJ), the official recorder of the revenue, will obviously give us an indication of the [city’s gaming revenue]. But I think everyone’s starting to get an indication that the trend of the last three of four months is that the market has contracted somewhat and is probably going to be down for October”, he said.
Nevertheless, he was confident that there would be a revamp, though he did not indicate when that will happen. “I think we all need to walk through what is a significant transformation of China. But I am confident that we will come out of this. We will rebound and be stronger and diversified as a result of the changes and the consolidation we’re going through at the moment”, he stated.
The MGM CEO said that the fall in gaming revenue has prompted some investors to reevaluate Macau. However, he reiterated his confidence in the city and its future.
“Any change to a market always has implications to the financial investors. And I think they’re going through a reassessment of how they see Macau. I am very confident on Macau and we are very solid”, he said.
Mr Bowie also observed that there has been a change in visitor patterns from China, with tourists spread out more evenly throughout the year, which he thinks is beneficial for the territory.
“Clearly, the Chinese policy is designed to take some heat out of the market. I think we’re starting to see that we’re getting more balanced visitation to Macau. We’re also starting to see the […] diversification, with more families and young people coming to Macau”, he said.
The CEO also commented on the recent protests in Hong Kong. While he claimed to be fully understanding of the protestors in the neighboring SAR, who he described as “very passionate about their views”, he said that people need to remember that expressing views should not impact the economy or the enjoyment of other people’s lives.