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VIP baccarat is the main source of revenue from Macau’s casinos in 1st half

VIP baccarat is the main source of revenue from Macau’s casinos in 1st half

VIP baccarat remained the main source of gross revenue from Macau casinos in the first half of 2016, according to data released Monday by the Gaming Inspection and Coordination Bureau. Gross revenue from Macau casinos amounted to MOP 107.787 billion (US$13.473 billion), and revenues from VIP baccarat totalled MOP 56.980 billion (US$7.1225 billion), accounting for […]
JLL says Macau property prices ‘already’ hit bottom

JLL says Macau property prices ‘already’ hit bottom

Property prices have “already” hit rock bottom but there won’t be a sharp rebound unless the city’s infrastructure and the economy are improved, Jones Lang LaSalle (JLL) Macau’s residential property chief Jeff Wong Chi Wai said on Thursday. Wong made the comments during a media briefing at his office about the global real estate services firm’s Macau […]
Diversifying Macau’s economy with different types of slot machines

Diversifying Macau’s economy with different types of slot machines

The Director of the Gaming Inspection and Coordination Bureau (DICJ), Paulo Martins Chan, stated his belief that if Macau wants to diversify its economy and achieve sustainable development, the gaming industry must undergo a period of structural adjustment, according to a statement released by the DICJ. In achieving economic diversification, Chan suggested that casinos could […]
Macau Legend Development announces investments in Setubal, Portugal

Macau Legend Development announces investments in Setubal, Portugal

Macau Legend Development signed a memorandum of understanding with the Portuguese municipality of Setúbal, which could reach 150 million euros in the first phase, Macau’s press reported on Thursday. The first phase, due to start in the first few months of 2017, includes the construction of a hotel, a block with 60 apartments, a marina […]
Macau’s gaming revenue to drop at slower pace in 2016 H2

Macau’s gaming revenue to drop at slower pace in 2016 H2

Macao’s gaming revenue in the second half of 2016 will drop from last year’s level at a slower pace, the special administrative region’s financial authorities said on Saturday. A report issued by Macau’s Office of the Secretary for Economy and Finance said the income of the Special Administrative Region (SAR) gaming industry in June reached […]
Macau’s vehicle imports drop 53 per cent in January-May

Macau’s vehicle imports drop 53 per cent in January-May

Macau’s imports of motor cars and motorcycles dropped by 53 per cent year-on-year to 529 million patacas in the first five months of the year, the Statistics and Census Bureau (DSEC) announced on Wednesday. Mobile phone imports fell by 50.5 per cent to 1.97 billion patacas. Imports of watches decreased by 42.3 per cent to […]
Macau Polytechnic Institute to launch Portuguese teacher training courses

Macau Polytechnic Institute to launch Portuguese teacher training courses

Macau Polytechnic Institute (IPM) President Lei Heong Iok said the tertiary education institution would launch Portuguese-language teacher training courses soon. Lei made the announcement on the sidelines of a graduation ceremony for IPM students of the academic year 2015-2016. Lei said that after the launch of a new bachelor’s programme in International Chinese Language Education […]
Pansy Ho says MGM Cotai, Macau, project going smoothly

Pansy Ho says MGM Cotai, Macau, project going smoothly

The construction of MGM China’s casino-hotel resort in Cotai is going smoothly, Pansy Ho Chiu King, co-chairperson and executive director of the gaming company, said, adding she believed it will open in the first quarter of next year. The US-based brokerage Sanford C. Bernstein said last week there was a possibility that the opening of […]
Wynn Palace to open in Cotai, Macau on Aug 22

Wynn Palace to open in Cotai, Macau on Aug 22

Wynn Macau will open its new integrated resort, Wynn Palace, in Cotai on August 22, the US gaming company said in a statement on Monday. The USD 4 billion (32 billion patacas) property features 1,706 rooms, restaurants, cable car rides around the resort, a water fountain show and a luxury shopping centre, as well as […]
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