As it seeks to build up the non-gaming economy, Macao hopes to lure high calibre professionals to work in its emerging bond market and finance sector.
Business
The company Macau Legend, which owns Macau Fisherman’s Wharf, is set to exit Cabo Verde and Cambodia by 2025.
Shopkeepers say there isn’t enough tourist traffic outside of the main sightseeing areas and add that visitors are spending less money than they hoped.
JP Morgan says the third-quarter result would have been even better without the stormy weather that swept Macao in September.
Analysts have been concerned about the bottom-line impact of the severe weather experienced in the month by Macao, which was battered by a typhoon and heavy rain.
Visitors to Macao surged by 17 percent between July and August, but average hotel occupancy rates stayed flat as most travellers chose to stay for a day only.
The first government land auction since 2008 was underwhelming, with two plots of land attracting just a single bid.
The vacant lots in Taipa were offered in the city’s first land auction since 2008, but have barely attracted a ripple of interest.
Macao’s six concessionaires have each been given a maximum number of operators they are allowed to work with, with Sands China and SJM allocated the most.