Macau's gambling industry has started to recover in the New Year, with casinos making $300 mill
Macau's gambling industry has fully recovered, with casinos earning 300 million yuan a day since January, and that figure will rise again to 400 million yuan after the Spring Festival.
Macao's gambling industry has been plunged into a huge downturn in the past three years due to the epidemic, with six gambling companies all Posting huge losses, among which SJM alone has accumulated losses of more than 10 billion yuan.
Six bookmakers have lost tens of billions in three years. Meanwhile, the six gambling companies have lost $200 billion to $300 billion in market value. Macao native speaker 600,000, and most of these are working for the gambling industry. Macau relies on the mainland for most of its gambling, with the rest coming from Hong Kong and Southeast Asia.
In the past three years, the severe COVID-19 pandemic has kept many people from going out. As a result, Macau's gambling revenue has been declining steadily, and by 2022, it will be almost a quarter of that in 2019.
Cash reserves of many gambling companies are also in crisis. Fortunately, with the epidemic over, the mainland economy is now restarting, and Macao is seeing the light of day. The gambling industry in Macao is closely related to the economy of the mainland. As mainland Chinese become richer, more talented people will travel to Macao, and only then can Macao's gambling industry make money.
Since the Spring Festival, Macau tourists are very popular, many Macao gambling industry workers sigh that it feels like 2019. Macau tourism boom, Pansy Ho is also a big winner.
For Macao, 2023 is also a new era. Because the 2022 bidding is over, the new six cards start a new ten-year cycle in 2023. MGM Macau, controlled by Pansy Ho, was initially the least favored in the competition of seven companies vying for six bets, but in the end Pansy managed to make a comeback.
In the final rating, MGM Macau received the first score. For the past two decades, MGM Macau has been the smallest of Macau's six largest gaming companies. But perhaps because it is the smallest, MGM Mirage has more room to change.
Macau's focus this time is on non-gaming entertainment. The big six have all admitted to spending huge sums on non-gambling sectors. They also came up with different plans.
Other companies' schemes were rated lower, but it was Pansy Ho's scheme that got the highest rating, perhaps because Pansy Ho made a quick U-turn.
Don't underestimate the number one rating, this is not just going through the motions. That is because Macau has added or reduced the number of tables for different gambling companies based on the ratings. In fact, the core of every gambling company is the number of gambling tables, which means the service capacity of the gambling company and their ability to make money.
The theory is that the more tables there are, the more money there is. Since Pansy Ho got the top score, her company could increase the number of betting tables by 35%, making it the biggest winner. There are some companies because the score is too low, is also cancelled part of the table.
In the new 10-year cycle, Pansy Ho will definitely be the biggest winner. Because Macao now wants to vigorously develop non-gaming entertainment business, to reduce the proportion of gambling in Macau's total revenue.
MGM Macau is already very good at this. So Pansy Ho is in for her big time. Of course, there is another key point, Pansy Ho does not have a family and other aspects of the drag, she can focus on the career, which is one of her strengths.
Pansy Ho could not have achieved her current achievement without her father Stanley Ho, but also without her own hard work and intelligence. Pansy Ho, as many people used to call her Stanley Ho's daughter, may surpass her father's achievements in 10 years.
Mr Ho is, of course, a man of extraordinary ability, but he is also caught up in a good time. Now Pansy Ho will write her own era. Pansy Ho recently interviewed Wang Shi's wife, Tian Pujun, in which she also talked about a lot.
Pansy Ho has also been on a roll lately, with the company she invested heavily in last year, Weimar Motors, preparing to list in Hong Kong. Pansy Ho is also interested in new energy vehicles. In fact, Shun Tak, which Pansy controls, has been doing well in recent years. The company has been investing in non-gambling businesses, including real estate, shipping, entertainment, media and electric cars. In terms of real estate, Pansy Ho has a presence in Singapore, Beijing, Zhuhai and other cities. Pansy has also invested in Phoenix Media.
Pansy Ho is also diversifying her investments and spreading her risk. A lot of people are lamenting that Pansy Ho is so outstanding, but it is a lifelong relationship is not smooth, now 60 years old, still a single person, and no children. But everyone has their own fate, you must learn to accept the bad part of their fate, in order to find their own destiny inside will shine.
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