Macau’s ‘Golden Week’ run might come to an end as Chinese economy sputters - News Summed Up

Macau’s ‘Golden Week’ run might come to an end as Chinese economy sputters


BloombergMacau’s robust “Golden Week” holiday performance is not likely to continue, with concerns over China’s softening economy weighing down the gambling outlook in the world’s biggest gaming center. The firm expects Macau gaming to grow 6 percent in the fourth quarter of this year, and lowered its forecasts for this year and next year. “The Golden Week this year was very robust, better than our pre-holiday expectation,” said Andrew Lo (盧啟邦), executive director of Suncity Group Holdings Ltd (太陽城集團), the listed vehicle of Macau’s biggest junket operator. “Macau in a slowing growth environment tends to underperform.”In contrast to Macau, Golden Week did not deliver a huge payoff for China. Consumption growth was softer than last year, and retail revenue growth might also underperform, according to a China International Capital Corp (中國國際金融) note.


Source: Taipei Times October 08, 2018 15:56 UTC



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