Gaming licencees published annual accounts (Update 3)
Written on May 23, 2006 by admin
May 20, 2006 - The three gaming concessionaires in Macau published their annual accounts for 2005 on the Government Gazette today (26 April).
The total gaming revenue generated by the Sociedade de Jogos de Macau (SJM) in 2005 was 34.4 billion Patacas, and SJM had paid 12.2 billion Patacas of gaming tax to the Government, plus 1 billion Patacas to the Macao Foundation and city infrastrucutre and tourism promotion, in accordance with the concession contract.
Meanwhile, the gaming revenue generated by Venetian Macau SA and Subsidaries was 7.7 billion Patacas, and had paid 327 million Patacas of gaming tax to the Government, and about 5 million Patacas worth of other taxes and contributions.
And the gaming revenue generated by Galaxy Casino amounted to 3.9 billion Patacas, and paid over 1.5 billion Patacas to the Government as gaming tax and other forms of contributions.
For the performance as a whole, SJM recorded a profit of 5.5 billion Patacas after tax and expenses, 2.4 billion Patacas for Venetian Macau SA and Subsidaries, and only 6 million Patacas for Galaxy Casino.
All concessionaires also expressed their optimism in their annual reports.
SJM indicated that, although being "a year full of challenges" as they faced a full year of competition with other concessionaires, it managed to lead Macau's gaming market.
It promised to complete the Grand Lisboa and Ponte 16 projects at an earliest date, and the large-scale tourism, entertainment and shopping complex at the present New Yaohan location is currently under way.
Venetian Macau SA and Subsidaries regarded the year 2005 was "a sucessful year", with the reception of about 9 million visitors in its Sands Macau complex.
It also expected the Venetian Macau Casino Resort in Cotai to be inaugurated by mid-2007.
It also boasted a total of 6,134 members of staff working in the firm, of which 85% are local residents.
Galaxy Casino maintained that their operations "continue to improve" by issuing USD 600 million worth of bonds for the construction of their projects in Macau.
It expected the Star World Hotel, which will become "the tallest hotel in Macau", to begin operation by August this year, and its resort in Cotai to open at the beginning of 2008.
The full text of the annual accounts can be access at the Government Printing Bureau's website:
SJM: Chinese version | Portuguese version
Venetian Macau: Chinese version | Portuguese version
Galaxy Casino: Chinese version | Portuguese version
Technorati Tags: cotai, Entertainment, macao, macau, Macau Casino
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