Next year’s budget increases by five per cent but no salary increase for civil servants; Macao’s financial reserve in September down by 2.95% to MOP 562.9 billion.
Business
Next year’s budget for public welfare measures will cost local government about MOP 20.9 billion.
Gaming operator’s EBITDA in third quarter negative HK$535.5 million; total revenue HK$687 million, down 37.54 per cent from second quarter.
Melco generated negative Adjusted Property EBITDA of US$34.9 million on this year’s third quarter; CEO optimistic about e-visas being issued to mainland Chinese visitors.
As MOP is linked to HK$, increase follows Hong Kong’s adjustment based on US Federal Reserve’s move to raise Fed funds rate target range by 75 basis points.
Results up 31.6% on September; Macao’s six gaming operators continue to run 37 casinos, but with 32 fewer gaming tables and 345 more slot machines.
Gloomy results see VIP GGR, once a huge source of income, down to a paltry HK$29 million. CEO hopeful of ‘travel liberalisation’.
Exports up slightly at MOP 10 billion; merchandise trade balance deficit stands at MOP 92 billion.
Rival bid discounted while director is on trial for illicit exploitation of gambling; Stanley Ho’s family remain at helm of long-running casinos.