Author: baccaratsite

Macau’s Gaming Service Index survey of casino resort staff performance, first launched in 2013, registered a record high by the fourth quarter of 2023. But the 2023 ‘tolerance’ indicator of the index – relative to staff attitudes to customers – showed a downward trend from pre-Covid 19 years, according to a Tuesday announcement about the survey results.

The overall reading for the index in fourth-quarter 2023 was 145 points, compared to the 138 points recorded in the prior-year quarter. The second highest reading for the Macau gaming sector was in the second quarter of 2017, at 139 points.

The survey was coordinated by the Macau Gaming Research Association, in collaboration with SGS Hong Kong Ltd, described as an inspection, verification, testing and certification company. The review was conducted by so-called ‘mystery shoppers’ that made observations of various services on the city’s mass-gaming floors. The survey had been compiled over 12 months every year since its inception in 2013; but the annual compilation later covered only the fourth quarter since 2020.

The overall index is composed of three gauges: the ‘smiling’ sub-index, a measure indicating casino staff’s ‘friendliness’ towards customers; the ‘proactive’ sub-index, used to gauge how active casino staff are in approaching customers; and the ‘tolerance’ sub-index, which reflects casino staff’s level of patience when interacting with customers.

The ‘tolerance’ sub-index score was 103 in the fourth quarter of 2023, as compared to the base score of 100 in 2013. This latest index reading – though already improved from the scores of below 100 during the Covid-19 hit years running from 2020 to 2022 – still tracks much lower than sub-index readings of over 120 during 2018 to 2019, the archived survey results show.

Within the overall index, both the fourth-quarter 2023 ‘smiling’ sub-index and ‘proactiveness’ sub-index respectively reached record highs, at 171 and 172.

For the latest survey, the researchers gathered an aggregate of 864 casino employee sample responses, of which 58 percent came from table game dealers, i.e., about 504 of all the responses. The rest of the samples covered employees engaged in either: customer service – such as membership desk work, cloakrooms, shuttle bus services and toilet attendants – slot machine areas; security; or cashier roles.

Table game dealers had a record score of 2.51, from a range of zero to 3.5. Compared against the fourth quarter of 2022, table game dealers showed improvement in all the sub-indices: ‘smiling’; ‘proactiveness’; and ‘tolerance’ attitude towards patrons.

The overall service quality of customer service and slot machine area staff have also shown improvement, compared to the fourth quarter of 2022, the survey results indicate. But those employed in security departments had lower scores compared to the 2022 survey, with a decline in all gauges. Cashier staff also saw a decline in their overall gaming service index reading, dragged by a lower reading in their ‘tolerance’ sub-index.

The overall service index of the Cotai properties’ employees in the latest results, which stood at 154, was 10 points higher than the ones on the Macau peninsula.

According to the association, SGS collected the casino employee samples from Macau’s casino resorts in Cotai and on the Macau peninsula. The mass-market customer areas of 12 gaming properties were visited for the survey.

They were: City of Dreams and Studio City, run by Melco Resorts and Entertainment Ltd; Galaxy Macau and StarWorld Hotel, operated by Galaxy Entertainment Group Ltd; Grand Lisboa Palace and Grand Lisboa, run by SJM Holdings Ltd; MGM Macau and MGM Cotai, of MGM China Holdings Ltd; the Sands Macao and Venetian Macao, promoted by Sands China Ltd; and Wynn Macau and Wynn Palace, run by Wynn Macau Ltd.

BY: 바카라사이트

Fitch Ratings Inc now expects Macau casino operator Sands China Ltd to resume dividend payments “in 2026”, it said in a Thursday note. In a previous update in July, the institution had mentioned such payments might resume in 2025.

The credit institution has upped the long-term issuer default ratings for Sands China’s parent Las Vegas Sands Corp, as well as for the Macau unit and the Singapore unit, Marina Bay Sands Pte Ltd, to investment grade, i.e., ‘BBB-’ from ‘BB+’. The institution described the group’s rating outlook as ‘stable’.

Factors in its decision included anticipated improvement in the overall group’s earnings before interest, taxation, depreciation and amortisation (EBITDA) leverage.

That took into account assumptions there would be a common dividend issued by the parent at US$0.20 on a quarterly basis. Fitch said that was expected to cost US$600 million annually, noting there would also be “stock repurchases”, and the likely “resumption of a Sands China [dividend] distribution in 2026”. The parent company restarted payment of dividends in August last year.

Fitch said the post-pandemic recovery of business in the Macau and Singapore markets were not the only factors driving its view on the overall group’s ratings.

“Fitch believes Las Vegas Sands [group] is willing to manage its balance sheet in a manner consistent with investment grade ratings, and the company has a solid track record of publicly articulating its leverage policy and adhering to prudent balance-sheet management,” said the institution.

It added the casino group’s management had stated it aimed at a gross target debt ratio of 2.0x to 3.0x, “before the impact of development projects”.

Funding any NY project manageable

Fitch said that while it made “no assumptions” regarding the possible financial impact of the Las Vegas Sands group successfully bidding for a New York City project, “if the company receives a licence, it would be required to pay a US$500-million licensing fee up front”.

Fitch added that “given the assumption of strong free cash flow and high cash balances” in the group’s existing Macau and Singapore operations, it believed “these capital outlays are adequately financeable”.

The ratings agency stated in its latest update that its rating “reflects a strong rebound in the Macau market and outperformance in Singapore that has driven leverage metrics through Fitch’s upgrade sensitivities.”

It added: “Fitch believes the pace of recent growth in Macau should allow Las Vegas Sands [group] to continue to remain at investment grade metrics given the company’s strong position in the premium mass market, along with positive free cash flow generation and strong liquidity.”

The institution said that although the Las Vegas Sands group has a “potentially heavy capital programme, especially if it wins a New York City licence,” Fitch believed the issuer would be able to meet this funding “without materially affecting the balance sheet”.

Fitch nonetheless cautioned that the level of new rating “reflects potential weakness in the China economy, regulatory changes, and an increasingly competitive environment in Macau from new openings and expanded facilities”.

Though the ratings agency said the ‘stable’ outlook was merited by increased visitor volume and spend in Macau and Singapore. “This has led to a normalisation of operations and created abundant liquidity that protects Las Vegas Sands [group] from pockets of economic weakness,” said Fitch.

Another credit analysis house, S&P Global Ratings, had in July last year lifted Las Vegas Sands and Sands China to investment grade, i.e., ‘BBB-’ with a ‘stable’ outlook, on “Macau recovery and strong Singapore performance”, from ‘BB+’ with a ‘positive’ outlook.

BY: 카지노사이트

Macau’s casino gross gaming revenue (GGR) could top MOP19.8 billion (US$2.46 billion) in February, supported by a “solid performance” during the Chinese New Year (CNY) holiday period, says brokerage CLSA Ltd.

“Macau is poised to deliver solid performance during Chinese New Year as average visitations over 10 to 17 February track the Macao Government Tourism Office’s (MGTO) forecast of 120,000 per day,” wrote analysts Jeffrey Kiang and Leo Pan in a Tuesday note.

“This is supported by our visit on 12 February, where we saw robust foot traffic at borders and four integrated resorts we visited,” they added.

Macau welcomed more than 898,000 visitors in the first five days of the Chinese New Year break, according to official data. The average number of visitor arrivals stood at about 179,700 a day, showed preliminary figures from the city’s Public Security Police.

The Chinese New Year holiday period runs from February 10 to February 17, inclusive. The holiday period is usually a peak season for Macau’s gaming industry as hundreds of thousands of mainland Chinese tourists take advantage of the break to visit the city.

“We feel there is upside risk to our GGR forecast for February, which we currently forecast at MOP19.8 billion (2 percent above January’s print),” added the CLSA team.

If confirmed, the figure would be the highest monthly tally since the onset of the Covid-19 pandemic in early 2020.

During CLSA’s February 12 visit to Macau, “ferries and golden shuttle buses – through the Hong Kong-Zhuhai-Macau Bridge – were packed,” observed the brokerage’s analysts.

“The most commonly seen minimum bet for baccarat tables was MOP1,000 (US$124); while tables with higher minimum bets (MOP2,000, MOP3,000 and MOP5,000) were notably occupied in the afternoon,” stated the analysts.

“Besides baccarat, sic bo – which generally commands a higher house edge than baccarat, and minimum bet of MOP500 – was a popular table game among players,” they added. “Slot machines and live multi-game terminals were also popular.”

BY: 슬롯사이트

Coach Thomas Tuchel left a significant statement suggesting factions within the team.

Bayern Munich won 2-1 against RB Leipzig in the 23rd round of the German Bundesliga in the 2023-24 season at the Allianz Arena in Munich, Germany, at 2:30 a.m. on the 25th (Korea time). Munich, which added three points, remained in second place in the league (53 points), while Leipzig, which lost on the road, was in fifth place (40 points).

Munich, which is in its first full season under Tuchel, is facing a crisis as it has won three consecutive official matches and two consecutive league titles. Starting with the Leverkusen match in the 21st round, Munich lost in both the UEFA Champions League (UCL) Lazio and the League Bochum matches, achieving its humiliating record of three consecutive official matches in about 10 years.

With three consecutive losses, the team is losing hope for the trophy. Currently, Munich is in second place, eight points behind Leverkusen, and is on the verge of being eliminated after losing 0-1 in the first round of the UCL. As a result, public opinion has been mounting that Tuchel should be replaced, and even rumors of a possible defeat have surfaced.

In the end, Munich announced that it would end the season with Tuchel. “The club and Tuchel have decided to end the contract, which was originally scheduled to expire on June 30, 2025, on June 30, 2024. This is the conclusion of smooth talks between sporting director Jan-Christian Dressen and Tuchel,” Munich said on its website on Sunday.

If things go wrong, it could discourage his team. Fortunately, thanks to Harry Kane’s multi-goal, Munich beat Leipzig 2-1 to end its three-game losing streak.

Apart from his victory, however, Tuchel’s post-match interview has become a big controversy. According to German football team Barbarian Football, Tuchel said after the match, “I don’t think Alexander Pavlovic will be happy or relieved that I am leaving after the season is over. The same goes for Rafael Guerreiro, Kim Min-jae, and Manuel Neuer. I would have been very surprised if I were the backpack they were carrying. The main reason for making this decision was to avoid a confusing process. Now everything is clear. Like it or hate it, I don’t have to solve the mystery of what the backpack is anymore.”

Tuchel’s remarks also seem to be related to the factionalism within the Munich locker room recently reported in Bild. “The current locker room in Munich is divided between those who support him and those who do not,” Bild said on the 20th, citing the names of Neuer, Guerreiro, Jamal Musiala, Leroy Sane, Kane, Eric Dier, Bantuchel Joshua Kimmich, Leon Goretzka, Thomas Muller, Matthijs the Licht, Matthijs Tell, and Serge Nabri.

BY: 토토사이트

Macau’s government on Tuesday announced rules for a blanket smoking ban on all levels of public market casinos in the city. However, it remains unclear whether the ban will affect VIP areas in some high-end public areas isolated from key floors and typically individual rooms.

“We are still waiting for the Game Inspection Coordination Bureau to come up with an official definition of the VIP area,” said Zhang Zhang Yip, deputy director of Macau’s health bureau, on Wednesday.

According to the new rules included in the Macao Administrator’s Dispatch 141/2014, casino operators can ask to install smoking areas with game tables and slot machines in “regions with limited access to certain games and gamblers,” which GGRAsia knows could mean VIPs or even certain premium public areas. These “restricted access” areas will be defined by the gaming bureau, and specify the new rules.

The regulation does not specify the maximum size for these areas of “limited access.” The regulation only states that the size of smoking areas along with smoking lounges must be less than 50% of the entire casino game area.

Premium mass market players top the mass market using bets measured at thousands of Hong Kong dollars per hand. Macau casino operators said premium mass players offer higher margins than VIP gamblers because casinos do not have to pay commissions to junket operators. Several casinos already have separate rooms to cater to these customers.

Under the new smoking rules, all casino floors in the public market in Macau will be non-smoking from Oct. 6, after the Golden Week holiday in October. However, operators can create smoking lounges on the public market floor without game tables or slot machines. In theory, they will be similar to smoking rooms at major airports.

The smoking lounge must be physically separated from the rest of the casino floor and have automatic sliding doors. There is no limit to the number of smoking lounges each casino floor can have.

“The ban on smoking in large casino floors will benefit both players and employees,” Chang said.

According to a Macau government-sponsored survey released last month, 58.4 percent of casino workers don’t want to work in VIP rooms after full smoking cessation was imposed on the mass market. But 12.7 percent of the casino workers will be willing to change their mind in exchange for a special allowance.

Mr. Chang said there are no rules for game operators to offer special allowances to employees who work in smoking areas in VIP rooms, but the government expects casino companies to do so. “It depends on the operator,” he stressed.

Mr. Chang said that casinos that cannot install smoking lounges on the public floor will have to quit smoking altogether until the new rules take effect. But they can install smoking lounges on the public floor later

BY: 홀짜게임

Macau’s total casino gaming revenue rose 9.3% year-on-year to 32.35 billion MOPs ($4.05 billion) in May, local regulators said at lunchtime on Tuesday.

Sales in May were the slowest growth in four months as casino operators embraced more premium public gamblers following a slowdown in the expansion of VIP games.

“We believe the VIP segment is likely to be tracked below expectations due to a combination of factors, including reduced risk from continued market mergers and acquisitions, concerns about widespread anti-corruption crackdowns across China (which do not specifically target Macau), and some impact from China’s macroeconomic challenges,” Union Gaming Research Macau Limited said in a note on Tuesday.

Local media reports, however, say Macau authorities and China UnionPay, the only interbank network in the People’s Republic of China that is authorized to operate, are cracking down on the use of disguised transactions conducted in Macau to avoid strict cross-border funding controls in mainland China. Some analysts think this has affected public market gambling in recent weeks.

However, Macau’s economy and finance minister, Francis Tambac, said last month that the government had not set a deadline to limit the use of China Union Pay swipe card devices inside casinos. In 2013, Union Pay sales in Macau totaled $22.5 billion, nearly half of Macau’s 2013 gaming revenue, according to Reuters.

Meanwhile, game operators are preparing to focus on the premium mass sector to drive growth this year. Premium mass market players are at the top of the market, playing for higher than the mass market average. Macau casino operators said premium mass players offer higher margins than VIP gamblers because casinos don’t have to pay commissions to junket operators.

According to the Game Inspection and Coordination Bureau, VIP baccarat accounted for 63.7 percent of total game sales in the first quarter. During the first three months of 2014, mass market baccarat’s sales reached 28.5 billion MOPs. This is 12 percent higher than the annual sales of mass market baccarat in 2009.

“The bulk market still appears to be strong, which is why we believe all management has taken the time to highlight in its Q1 results that more than 70% of its cash flow comes from non-VIPs. That said, the risk to Macau cash flow this year is less than the headline GGR [gross revenue from games] figures suggest.”

But the research house said there was no real change in investor sentiment.

The Macau gaming regulator said its cumulative total for May 31 was MOP 165.87 billion, up 15.8% year-over-year.

BY: 홀짜게임