Circe Universe Group, an investor and operator of Macau’s Ponte 16 casino, said on June 9 it was currently in discussions with the government about future expansion plans to include floating casinos.
Reimagining Accessible Floating Casino:
Macau already has its only floating casino, the so-called Casino Macao Palace, but most of it has been abandoned except for being used as a promotional venue for filming and other activities. The barge casino, which was anchored next to the Macau ferry terminal, was operated by SJM’s parent company, StDM (Sociedade de Turismo ̃ de Macao). The casino also operated between 1995 and 2007, and was later moved to a port of entry near Pai Chi Kei.
However, looking at estimates for the expansion of the successful universe, it is more likely to refurbish an existing floating casino than to build a new location. After the refurbishment is completed, the Macau Palace will no longer be a casino, but will offer restaurants, retail services, and a museum of game culture. In this regard, Hoffman Ma, the vice president of the successful universe group, told the media, “He expects the group’s next expansion to cost over HK$100 million ($12.8 million), and the company will discuss financing with the bank.” However, SJM’s president Daisy Ho previously refuted Ma’s statement, saying, “The group will redevelop the water palace into an entertainment attraction, such as a museum equipped with F&B.”
Goals for this year:
“Macao has already met half of the government’s GGR target of $130 billion ($16.2 billion) between January and May, and the visit is already nearing 2019 levels,” Ma Hoffman stresses, referring to his projected target for the year. Ma also stresses that “labor shortages are easing with the addition of nonresident workers.” Against this backdrop, the executive expects quarterly gaming gross sales to rise 10% in the second quarter ending June 30. Additionally, Macau’s casino GGR was MOP65 billion in the five months to May 31, up 173% year-over-year. Calculations for the first four months of 2023 have already exceeded last year’s total GGR.
For Ponte 16, Ma has seen a strong recovery from routine operations so far this year, with Ma revealing that “hotel occupancy rates and average prices have recovered to 85% of 2019 levels.” He also added, “Ponte 16 has no plans to resume VIP operations yet.”
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