Macau’s gross gaming revenue in May rose 23.7 percent year-on-year to MOP 22.74 billion, posting a 10-month winning streak and beating analysts’ forecasts.
Business
Officials held a meeting with representatives of the city’s gaming operators and junket promoters briefing them on the Legislative Assembly Election Law which requires them to remain politically neutral in the upcoming legislative elections.
Macau’s gross domestic product grew 10.3 percent year-on-year in real terms in the first quarter of the year, according to the Statistics and Census Bureau .
The Macau Foundation (FM) has launched a Belt and Road (B&R) scholarship for residents to study for degree courses in a number of countries along the B&R Initiative, the public institution said in a statement on Sunday.
Macau’s retail sales for the first quarter increased 12 percent year-on-year to MOP 16.6 billion. Month-to-month, the figure was up 4.3 percent.
Moody’s Investors Service announced on Wednesday that it maintained Macau’s long-term issuer ratings at “Aa3” and upgraded the rating outlook to “stable” from “negative”.
Secretary for Economy and Finance Lionel Leong Vai Tac said late last week that the government would not simply renew the city’s current gaming concessions and sub-concessions when they expire, but that it would instead launch a new bidding process.
The Judiciary Police arrested 11 men and women from the mainland on Tuesday for alleged membership of a loan-sharking gang which for six months had offered casino patrons gambling loans.
Macau’s foreign exchange reserves amounted to 154.1 billion patacas at the end of April, the Macau Monetary Authority (AMCM) said in a statement on Monday.