Gaming operator MGM China reported a total revenue of HKD14.9 billion for the 2016 financial year. In the year under review, MGM China recorded an EBITDA of HKD4.5 billion, a slight dip from HKD4.7 billion in 2015.
Business
Melco Crown Entertainment Ltd. reported its unaudited financial results for the fourth quarter and for the full year ending December 31, 2016. The results showed that net revenue during the fourth quarter of last year grew about 13 percent year-on-year from USD1,058 million to almost USD1,193.
Macao Water Executive Director Nacky Kuan Sio Peng said on Wednesday that construction of the Seac Pai Van water treatment plant was slated to start in the middle of this year, adding that the facility is planned to be operational in 2019.
The International Monetary Fund (IMF) has revised its forecast on Macau’s 2017 GDP growth rate for this year to 2.8 percent from its previous forecast of 0.2 percent.
Banco Nacional Ultramarino (BNU) announced on Tuesday its unaudited financial results for 2016, recording a 9.8 percent increase in net income to MOP560.5 million for the year.
Pousada de São Tiago will temporarily close from March 31st and remain closed until the construction of the Barra Transport Complex is completed, SJM Managing Director and Chief Administrative Officer Angela Leong On Kei said on Tuesday.
The Economic Services Bureau (DSE) has finished a study on how Macau should reposition itself in the development of its industrial sector, according to a statement from the bureau on Sunday.
Secretary for Economy and Finance Lionel Leong says the government is confident that Macau’s economy will record “modest” growth this year. Macau’s economy in the first half of last year continued the downward trend seen in 2015, the second half of 2016 recorded a “relatively stable” performance.
The final costs of construction for the Hong Kong-Zhuhai-Macau bridge will exceed the original estimated budget. The three governments will now have to chip in on a proportional basis to make up for the difference.