Greater China | Will Macau’s Foodservice Industry Sizzle Or Fizzle? | Econo...
Greater China
Will Macau’s Foodservice Industry Sizzle Or Fizzle?
Economies of the China Pacific region are close to racking up another stellar growth year, but no single area has performed like Macau, the ex-Portuguese enclave an hour ferry ride west of Hong Kong. Not only did Macau’s annual gambling revenue overtake that of Las Vegas last year, but in a new sign of the tremendous growth in cash flowing through the territory, VIP private room Baccarat-only takings in Macau during the third quarter of this year exceeded total Las Vegas gambling receipts during the same time period.
Pundits have long argued that Chinese gamblers, constituting the majority of Macau visitors, will not take precious time away from the baccarat tables to enjoy high-end dinners, and certainly Macau’s traditional casinos boasted little in the way of fine food. But some of the biggest names in the casino business are betting against the odds that the availability of a wider selection of eating establishments, like those developed in Las Vegas over the last decade, will have Chinese coming to Macau for more than just gaming. Although Macau has always imported U.S. beef and pork for its small high-end foodservice market, new hotels are providing new demands for increased volumes of high quality meat.
U.S. beef is already appearing on the menus of some of Macau’s new outlets, and USMEF is implementing more aggressive coverage of the booming mini-metropolis. In concert with the Nebraska Beef Council, USMEF participated as the official premium meat sponsor for the first annual Wine and Gourmet Macau Exhibition and Gourmet Festival held Nov. 6-9 at the Venetian’s new 1-million square foot exhibition center. According to USMEF Senior Vice President, Asia Pacific Joel Haggard, “Macau is more than gaming and fine dining. There is a vibrant Chinese restaurant sector, and more Japanese and Korean outlets coming online as visitors increase from those countries. There is a whole sub-industry of staff catering as well.”
To read more, see the latest USMEF Insight: Macau - Foodservice Industry Sizzle or Fizzle.
Greater China
Will Macau’s Foodservice Industry Sizzle Or Fizzle?
Economies of the China Pacific region are close to racking up another stellar growth year, but no single area has performed like Macau, the ex-Portuguese enclave an hour ferry ride west of Hong Kong. Not only did Macau’s annual gambling revenue overtake that of Las Vegas last year, but in a new sign of the tremendous growth in cash flowing through the territory, VIP private room Baccarat-only takings in Macau during the third quarter of this year exceeded total Las Vegas gambling receipts during the same time period.
Pundits have long argued that Chinese gamblers, constituting the majority of Macau visitors, will not take precious time away from the baccarat tables to enjoy high-end dinners, and certainly Macau’s traditional casinos boasted little in the way of fine food. But some of the biggest names in the casino business are betting against the odds that the availability of a wider selection of eating establishments, like those developed in Las Vegas over the last decade, will have Chinese coming to Macau for more than just gaming. Although Macau has always imported U.S. beef and pork for its small high-end foodservice market, new hotels are providing new demands for increased volumes of high quality meat.
U.S. beef is already appearing on the menus of some of Macau’s new outlets, and USMEF is implementing more aggressive coverage of the booming mini-metropolis. In concert with the Nebraska Beef Council, USMEF participated as the official premium meat sponsor for the first annual Wine and Gourmet Macau Exhibition and Gourmet Festival held Nov. 6-9 at the Venetian’s new 1-million square foot exhibition center. According to USMEF Senior Vice President, Asia Pacific Joel Haggard, “Macau is more than gaming and fine dining. There is a vibrant Chinese restaurant sector, and more Japanese and Korean outlets coming online as visitors increase from those countries. There is a whole sub-industry of staff catering as well.”
To read more, see the latest USMEF Insight: Macau - Foodservice Industry Sizzle or Fizzle.