Gross gaming revenue (GGR) in Macau casinos dropped 3.5 percent in July from a year earlier, according to data released today by the Gaming Inspection and Coordination Bureau (DICJ) .
Business
Complete construction of Grand Lisboa Palace integrated resort in Cotai scheduled by the end of this year.
The government plans to set up the local version of a “sovereign wealth fund” with a proposed capital of 60 billion patacas.
A total of 7,652 residential flats were under construction at the end of March, and the units are expected to be absorbed by the market over the next three years.
The government has been cracking down on illegal online gambling and will continue to do so, resulting in over 300 websites being shut down between 2016 and last year.
Local junket operator Suncity Group Chairman Alvin Chau Cheok Wa said on Saturday that no legal action would be taken against any media.
Wynn Resorts Ltd. unveiled plans for a US$2 billion expansion of its properties in Macau, including a theatre and museum in the world’s largest gambling market.
Mainland-based Economic Information Daily reported that local junket operator Suncity “has raked in billions of [US] dollars in online gaming and proxy betting, causing great harm to [mainland] China social economic order.”
Macau’s top junket operator Suncity said in a paid advertisement published in the Chinese-language Macao Daily News Tuesday that it didn’t operate any online gaming business and that all its operations were permitted under local government regulations.