All united in gratitude to the government – and make a point of underlining commitment to promoting Macao’s status as ‘a world centre of tourism and leisure’.
Business
MGM Grand Paradise, Galaxy Casino, Venetian Macau, Melco Resorts (Macau), Wynn Resorts (Macau) and SJM Resorts commit to investing MOP 100 billion over the next 10 years following 3 years of severe Covid-19 losses.
MOP 22 billion allocated for infrastructure projects, MOP 650 million to attract more visitors as city focuses on big health, modern finance, hi-tech, and MICE.
Internship programme suffers high drop-out rate, with 200 out of 500 quitting; Finance Secretary admits 5% unemployment rate ‘not low’.
Renovated store is group’s biggest and first ‘green’ premises; grand opening of T Galleria at The Londoner Macao takes place this Friday.
Covid-19 restrictions hammer the economy across the board; GDP down 27% in first three quarters of 2022.
More than 60 SMEs from Macao and 10 from mainland China due to attend expo; organisers predict exhibitors’ total turnover to exceed MOP 3 million.
Government will continue to give MOP 10,000 to permanent residents and MOP 6,000 to temporary residents in 2023; city’s ‘birth subsidy’ will give each parent MOP 5,418 for every baby born next year.
However, unaudited profit after tax MOP 228.1 million, year-on-year decrease of MOP 110.4 million. Hengqin branch performing well.