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.
Business
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.
The Belt and Road Forum for International Co-operation taking place in Beijing has got the Macau delegation thinking how the local government and people should prepare themselves for participation in the large-scale project.
Macau Chief Executive Chui Sai On will lead a delegation from the Special Administrative Region to Beijing to take part in the “Belt and Road” Forum for International Cooperation, to be held on 14 and 15 May
Banco Nacional Ultramarino (BNU) in Macau, of Portuguese state-owned financial group Caixa Geral de Depósitos, ended the first quarter of 2017 with profits of 168.4 million patacas (US$21.05 million), according to the bank’s quarterly results.
SJM Chief Executive Officer Ambrose So Shu Fai said on Monday that as Macau’s gaming revenue has been up for nine straight months, and if the momentum continues, there could even be double-digit growth in this year’s gaming revenue.
In order to protect Macau’s financial system and the interests of cardholders whose bank cards have been issued in the mainland, all ATM machines in Macau will have Know Your Customer (KYC), a compliance feature, the government announced on Monday.
Casino operator Galaxy Entertainment Group (GEG) said on Thursday that its total revenue in the first quarter rose 5 percent year on year to HK$14.1 billion.