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Macau Periodical Index (澳門期刊論文索引)
- Author
- Wang, Wuyi
- Title
- VIP system facing challenge
- Journal Name
- 澳門理工學報
- Pub. Info
- Dec. 2006, 總第24期, Vol.9, No.4, pp. 1-9
- Keyword
- VIP-room contractual system；Macao；Gaming；Gaming liberalization
- Abstract
- Abstract : The Free Individual Travelers Scheme has greatly accelerated the development of Macao’s casino industry. Consequently, in 2005 the gaming industry in Macao exhibited a remarkable increase as a whole. Somehow, in the mean time, the VIP-room contractual system, the traditional major engine of Macao’s gaming industry, has shrunk. This paper tries to analyze and explain this phenomenon. Based on statistical data of 2004 and 2005, and by respectively analyzing both casino sectors’ (VIP sector and walk-in sector) marginal revenue curves and marginal cost curves as well as their equilibria, a model is built up to explain how the two sectors’ market shares are determined and what economic forces impel the allocation structure changing. This provides a deeper understanding of Macao’s casino industry and market. Tables: 1. Comparison of trends of casino market and VIP sector 2. Statistics of Macao’s three running casino firms in 2005 Figures: 1. Trend of Macao’s GCR & VIP revenue 2. Inter-sector allocation is determined by the sectors’ enquilibria