Board of directors appears to distance itself from controlling shareholder following his arrest by police in Macao.
Business
Police swoop on two addresses in Macao, seizing MOP 3 million and computer items; case transferred to Public Prosecutions Office.
Prosecutors in Wenzhou build case against Chau who they allege ran multi-million-dollar network encouraging illegal cross-border gambling.
Prosecutors allege Chau ran vast syndicate in China that encouraged illegal gambling activities; urge him to surrender for ‘lenient punishment’.
Ruling brings six-year legal wrangle to an end; likely to have significant implications for casinos’ future relations with junket operators.
Due to start within the next few months, the auctions aim to raise public revenues and ease Macao’s housing high-priced market.
GDP now stands at MOP 55.4 billion as exports show significant increase and visitor arrivals pick up after a dismal 2020.
Poor casino revenues impacted by Covid-19 compel government to dig into Macao’s reserves for the third time this year.
Macao-owned and operated company paints a healthy vision of e-powered transport in the city.