Does the Macau figures include the new casino hotel developments on Cotai?
None of the new resorts (Galaxy with BYT, Okura and Galaxy; Sands China Site 5 and 6: Conrad, Sheraton and Holiday Inn Cotai Central) is included in the data as yet.
Note that a large share of their inventory is contracted out through the casino operation. Only a relatively small share of casino hotel inventory is sold directly to the public.
As a result, the new supply has been absorbed into the market without significant impact.