Melco generated negative Adjusted Property EBITDA of US$34.9 million on this year’s third quarter; CEO optimistic about e-visas being issued to mainland Chinese visitors.
Business
As MOP is linked to HK$, 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.
Bureau plans to work with schools and enterprises to provide more internship and employment opportunities for students.
Thousands flock to Macao International Trade and Investment Fair, Macao Franchise Expo, Portuguese Speaking Countries Products and Services Exhibition; fairs open to public today and tomorrow.
CEO remains bullish in face of poor results caused by knock-on effects of Covid-19, says demand from customers still robust.