Macao’s aviation industry may be bouncing back, but the private charter flight sector is still lagging behind, with total flights only equivalent to 30 percent of 2019 numbers.
Business
After Alvin Chau was cleared of fraud (though not a raft of other crimes), Macao’s gaming operators are no longer entitled to more than 2 billion patacas in compensation.
CEO Craig Billings said he saw ‘particular strength’ in the group’s mass gaming, luxury retail and hotel businesses in Macao.
The concessionaire just released its latest results, which included a dividend payment its chairman says demonstrates ‘confidence in the longer-term outlook of Macao.’
Prices in the Macao Peninsula went down by slightly less than their Taipa and Coloane counterparts. The only uptick is in pre-sale residential units.
Minimum wage workers in the SAR will see a pay rise from the beginning of next year, and perhaps another one in the not so distant future.
Kenneth Feng, president and executive director, said the operator was excited about Macao’s continued recovery and diversification.
Casino staff face difficult working conditions and lack job security as Macao diversifies its economy – they deserve more, two lawmakers say.
With no commercial timber industry to speak of, this conference highlights the SAR’s potential as a destination for niche events.