澳门

Macao’s odds
Lex专栏:澳门赌场为谁忙?


尽管澳门博彩业收入连年增长,博彩类股的涨幅却远逊大盘,根本原因在于赌场向中介公司支付的佣金比例大幅上升。

The real story of Macao is told not in the soaring median monthly wages of workers in the gaming industry, which have doubled since 2000, or the steadily rising occupancy rates in the city’s five-star hotels. It is told in the share prices of the 22 Macanese gaming stocks listed in Hong Kong. In spite of successive years of rising gross gaming revenues in the former Portuguese colony – last year they were up a record 58 per cent to US$23bn – the sector has lagged behind the Hang Seng by more than 100 percentage points over the past five years.

澳门博彩业员工月薪中位数的飙涨(自2000年以来已增长1倍)以及五星级酒店入住率的稳步攀升,并没有道出澳门真正的“故事”——它隐藏在22家在港上市的澳门博彩公司的股价之中。尽管这个前葡萄牙殖民地的博彩业总收入连续多年增长——去年创纪录地增长58%至230亿美元——但过去5年,澳门博彩类股的涨幅却比恒生指数(Hang Seng)落后了逾100%。

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