Group claims to be in good financial shape, with total liquidity of HK$12 billion, remains confident about retendering and supporting government tourism goals.
Business
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Even in an economic downturn, Serene Garden has found fertile ground in Macao, thanks in part to a fruitful relationship with Sands China.
Covid-19 travel restrictions blamed for worst results since September 2020; city’ tally of gaming tables and slot machines has shrunk since end of 2019.
Pandemic blamed for poor results; chief executive adopts bullish stance, pointing to strong demand once travel restrictions are eased.
Standing Committee will review terms at least twice more before agreeing final wording and penalties with government officials.
Proposals include increasing junket operators’ capital to MOP 10 million and up to five years’ imprisonment for illegal deposit taking; bill should pass by 15 August.
Government also plans to spend MOP 1.326 billion on subsidising business and residential water and electricity bills for a period of six months.
Gaming tycoon and political bigwig demands practical help for gaming industry, warns that failing Macao economy will adversely affect One Country, Two Systems.