There is a ray of hope in the gloomy outlook for Macau casinos as early numbers show a healthy stream of visitors into the world’s biggest gambling hub during Golden Week, helping to alleviate investor fears that the holiday would be a major disappointment.
Chinese visitor arrivals on Monday and Tuesday jumped 27 percent from a year earlier, according to data from the Macau Government Tourist Office.
That is the best two-day start to China’s Golden Week holiday in at least six years.
The Bloomberg Intelligence gauge of Macau casino stocks yesterday closed 1.2 percent higher, after rising as much as 2.5 percent.
The benchmark gauge has slumped 36 percent since May amid a parade of bad news for the industry.
It slipped 2.8 percent on Tuesday after data showed Macau’s gross gaming revenue rose at the slowest pace in two years last month, weighed down by Typhoon Mangkhut, which temporarily shut casinos, and a pullback by high-stakes bettors.
With a slowing Chinese economy and trade tensions with the US contributing to softening gaming revenue growth since the second quarter, expectations for Golden Week have been muted.
The Eurovision Song Contest has seen a surge in punter interest at the bookmakers, becoming a major betting event, experts said ahead of last night’s giant glamfest in Basel. “Eurovision has quietly become one of the biggest betting events of the year,” said Tomi Huttunen, senior manager of the Online Computer Finland (OCS) betting and casino platform. Betting sites have long been used to gauge which way voters might be leaning ahead of the world’s biggest televised live music event. However, bookmakers highlight a huge increase in engagement in recent years — and this year in particular. “We’ve already passed 2023’s total activity and
Nvidia Corp CEO Jensen Huang (黃仁勳) today announced that his company has selected "Beitou Shilin" in Taipei for its new Taiwan office, called Nvidia Constellation, putting an end to months of speculation. Industry sources have said that the tech giant has been eyeing the Beitou Shilin Science Park as the site of its new overseas headquarters, and speculated that the new headquarters would be built on two plots of land designated as "T17" and "T18," which span 3.89 hectares in the park. "I think it's time for us to reveal one of the largest products we've ever built," Huang said near the
China yesterday announced anti-dumping duties as high as 74.9 percent on imports of polyoxymethylene (POM) copolymers, a type of engineering plastic, from Taiwan, the US, the EU and Japan. The Chinese Ministry of Commerce’s findings conclude a probe launched in May last year, shortly after the US sharply increased tariffs on Chinese electric vehicles, computer chips and other imports. POM copolymers can partially replace metals such as copper and zinc, and have various applications, including in auto parts, electronics and medical equipment, the Chinese ministry has said. In January, it said initial investigations had determined that dumping was taking place, and implemented preliminary
Intel Corp yesterday reinforced its determination to strengthen its partnerships with Taiwan’s ecosystem partners including original-electronic-manufacturing (OEM) companies such as Hon Hai Precision Industry Co (鴻海精密) and chipmaker United Microelectronics Corp (UMC, 聯電). “Tonight marks a new beginning. We renew our new partnership with Taiwan ecosystem,” Intel new chief executive officer Tan Lip-bu (陳立武) said at a dinner with representatives from the company’s local partners, celebrating the 40th anniversary of the US chip giant’s presence in Taiwan. Tan took the reins at Intel six weeks ago aiming to reform the chipmaker and revive its past glory. This is the first time Tan
RSS