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Let the good times roll

机译:让快乐的时光持续

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WHICH ECONOMY contracted most sharply last year? That dubious honour almost certainly belongs to Macau, a former Portuguese colony that is now part of China. On March 5th the autonomous region's statistical agency is expected to announce that GDP fell by at least half from 2019. Unsurprising, perhaps, given that the covid-19 pandemic has dealt a blow to Macau's sole engine of growth: casinos. Gross gaming revenue in Macau, the only place in China where casinos are legal, plummeted from $36bn in 2019 to $7.5bn last year. The first two months of 2021 brought little respite. Yet despite collapsing revenues and heavy pre-tax losses, share prices of Macau's six casino operators have held up remarkably well (see chart). Three of them are worth more than they were before the pandemic. Recently, after reporting that annual revenues had fallen by three-quarters, the biggest, Galaxy Entertainment, saw its market value swell to $42bn. Investors also reacted with a collective shrug when mgm China, a listed subsidiary of Las Vegas-based mgm Resorts International, disclosed a similar drop in its top line.
机译:去年哪个经济最迅速签约?这种可疑荣誉几乎肯定属于澳门,这是一部是中国的前葡萄牙殖民地。 3月5日,自治区的统计机构预计将宣布,GDP从2019年的跌幅至少下降。或许鉴于Covid-19 Pandemic已经对澳门的唯一增长发动机造成了打击,也许是难以置信的。澳门的总博彩收入,赌场唯一的地方,赌场是合法的,2019年的360亿美元达到去年的7.5亿美元。 2021年的前两个月带来了一点喘息。尽管收入和沉重的税收损失率倒塌,但澳门六个赌场运营商的股价上涨了非常好(见图)。其中三个价值超过流行前的比赛。最近,在报告中,在报告年度收入下降了四分之三,最大的银河娱乐活动,它的市场价值膨胀至42亿美元。当基于拉斯维加斯的MGM度假村国际上市的子公司,投资者也与集体耸耸肩作出反应,这是基于拉斯维加斯的MGM度假村国际的国际上市,披露了它的顶线类似的下降。

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    《The economist》 |2021年第9235期|共1页
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