The local government has signed a framework agreement with Alibaba Group to develop Macau into a smart city, by using Alibaba’s big data processing capabilities to enhance the quality of the city’s public services.
Business
Macau gaming operator Sociedade de Jogos de Macau (SJM) has announced its first half-year results for 2017, showing that the group’s revenue decreased by 2 percent when compared with the same period in 2016.
Gross revenue from Macao casinos registered a year-on-year positive growth in July, up 12 consecutive months of monthly growth, to 22.96 million patacas (US$ 2870 million), according to official data from the Gaming Inspection and Coordination Bureau.
13 Holdings Ltd. missed Monday´s deadline to open its luxury hotel in Macau, a condition of a HKD3 billion (USD384 million) loan from Bank of Communications Co. for the gaming project just off the Cotai strip, according to people familiar with the matter.
The government proposes to issue licences for telecom operators who provide “quadruple play” of cable television, Internet access, fixed line and mobile communication services in Macau, Secretary for Transport and Public Works Raimundo do Rosario said on Monday.
The leveling of the surface on the main part of the Hong Kong-Zhuhai-Macau Bridge has now been completed, the bridge authority announced on the weekend.
During the first half of this year, MGM China recorded a total revenue of HKD7.4 billion, an increase of 3 percent year-on-year. Adjusted EBITDA was HKD2.2 billion, an increase of 11 percent from last year.
Macau Roosevelt hotel opened on Wednesday with a casino in the name of the Macau Jockey Club with 30 gaming tables and 90 slot machines, as well as VIP rooms.
Casino operator Las Vegas Sands Corp reported a year-on-year increase of 61.9 percent in net income in the second quarter of 2017 to US$638 million. The quarterly results were driven by strong performance at its Macau and Singapore subsidiaries, the firm announced on Wednesday.