Blame lies with Covid-19’s effect on Macao; CEO bullish on company’s future prospects, pointing to robust customer demand.
Business
US ratings agency predicts 2022 GGR as low as 20% of 2019 levels, recovering slightly in 2023, at time of flux for city’s gaming industry.
LVS states it retains confidence in long-term growth potential of Macao but gaming revenues are fraction of pre-Covid numbers in early 2020.
Effective 30 September 2022, industry veteran will be leaving Wynn Macau after more than five years to join Australia’s leading gaming group.
Outgoing president Ian Michael Coughlan leaves next February but will continue in advisory role; CEO hails successful transition.
Would-be concessionaires must set out how they would attract foreign customers, the benefits they’ll bring to Macao and their stance on social responsibility.
Most taxpayers can look forward to MOP 15,000 rebate, while many freelance professionals can expect MOP 10,000 grant.
Last month’s figure drops by 25.9 per cent month-on-month as city fights its worst Covid-19 outbreak, leaving Macao almost empty of visitors.
5G network to cover all of Macao within 2.5 years since announcement of winners, who will hold licences for eight years.