Extra funds required to meet tendering terms; chairman Daisy Ho says company in strong position to win 10-year concession starting next year.
Business
Loss comes at a time when Macao’s casinos were forced shut and partial lockdown was put in place by government to tackle Covid-19 outbreak that started on 18 June.
Plan sets out MOP 10,000 for eligible employees and freelancers, and up to MOP 500,000 per business.
Company refinanced its syndicated banking facilities last month, with HK$9 billion term loan and HK$10 billion revolving credit.
Figure also a decrease of 95.3 per cent year-on-year from MOP 8.45 billion as Macao government shut down casinos for nearly two weeks in July due to city’s latest outbreak.
Apart from running casinos, would-be operators will have to develop medical and coastal tourism, build arts venues and stage world-class events.
Bids, plus MOP 10 million security deposit, must be submitted by 14 September; foreigners’ entry restrictions should cease ‘by year’s end’.
Monetary Authority of Macao raised rate by 50 basis points in May and another 75 basis points last month.
Gaming commission responsible for helping the SAR’s chief executive in analysing and deciding all matters relating to the gaming sector.