Todd Bishop
The market’s worries about the Macau gaming industry continued, mainly due to the trade war situation and macroeconomic instability. Ma Haowen, vice chairman of Shide Global (0487), said after the shareholders meeting that the mid-game gambling performance in the first half of the year was better, and the growth was even better than the market average. However, the business of the VIP room was worse than expected, which was considered to be a trade war affecting the decline of VIP customers. influences.
He pointed out that the VIP room business accounted for a small proportion, and there is now a outsourcing gambling hall and a high-note betting area operated by itself. The company’s main focus is still on the midfield customers, confident that there will be steady growth, and after the trade war is expected to be alleviated or resolved, the VIP room business also has a good performance.
He said that even if the economic and trade situation is unstable, during the summer vacation, I believe that the company’s business will be more prosperous than before. Because Macau is a short-term competitive tourist spending hotspot, and Macau hotels are “most resistant”, the company responds to family guests. The launch of the Angry Bird non-gaming project is also very popular.
Still discussing with the Government on new shopping mall plans
Ma Haowen pointed out that the company is in the process of discussing the new shopping mall project with the government. New information will be announced immediately. The investment is expected to be 600-700 million yuan, depending on whether the table can be increased or not. Need, so there is no dividend.
In addition, affected by the trade war, he revealed that the hotel rent increase has narrowed, the increase during the New Year period is 5 to 8%, while the rent during the summer vacation is 2 to 3%, there are five to 60% of room reservations, according to past practice, As the booking becomes more and more full, it will increase the price.
