CEO points to expansion of retail and F&B at Grand Lisboa Palace as investment in Macao tourism and trust in obtaining new concession.
Committee chairman Chan Chak Mo says two more meetings required to go through nitty gritty of proposed new junket regulations.
Group claims to be in good financial shape, with total liquidity of HK$12 billion, remains confident about retendering and supporting government tourism goals.
Covid-19 travel restrictions blamed for worst results since September 2020; city’ tally of gaming tables and slot machines has shrunk since end of 2019.
Pandemic blamed for poor results; chief executive adopts bullish stance, pointing to strong demand once travel restrictions are eased.
Standing Committee will review terms at least twice more before agreeing final wording and penalties with government officials.
Proposals include increasing junket operators’ capital to MOP 10 million and up to five years’ imprisonment for illegal deposit taking; bill should pass by 15 August.
Major industry players step back in the run-up to new laws which aim to clean up gaming and protect Macao’s image as an international leisure destination.
