Gaming | VIP room shut down at Hotel Lisboa

Golden Resorts Group’s two-storey VIP room, located at Hotel Lisboa, is said to have shut down. The closure has meant 21 job cuts, Ming Pao reported, citing market sources. The group was founded by Mr Lee Wai Man.
Over 60 junket rooms have closed their operations in Macau since its peak in mid-2013, when gaming results were robust. Less than 180 junkets are currently registered in the city. But only 148 of these actually still operate gaming in VIP rooms, the president of the junkets’ trade association, Kwok Chi Chung, told Business Daily earlier this month.
Meanwhile, Citigroup trimmed its August gaming revenue forecast to MOP18.5b, down 36% year-on-year.
Based on industry sources, Macau table gross gaming revenue (GGR) reached MOP8.6 billion for the first 16 days in August. The daily run-rate equates to MOP567 million, stable with figures from the previous week. Hence, Citigroup has cut its August GGR forecast to MOP18.5 billion, representing a year-on-year decrease of 36%. This implies a daily run-rate of MOP630 million for the remaining period in August, the research house said in a report yesterday. Citigroup pointed out that the market share appears as follows: SJM ranked first (23.7%), followed by Sands China (23.6%), Galaxy (20.1%), Melco Crown (13.3%), Wynn Macau (10.4%) and MGM China (8.9%).
In addition, Galaxy will disseminate its results today. Citigroup expects the company to register a 36% year-on-year decline in revenue to USD11.636 billion. PC