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Paulo Chan vows to put Macau’s gaming industry in order

Paulo Chan vows to put Macau’s gaming industry in order

Former Assistant Public Prosecutor-General Paulo Martins Chan was officially sworn in on Tuesday as the director of the Gaming Inspection and Coordination Bureau (DICJ), bracing himself for a new chapter of his career expected to be fraught with challenges. The gaming regulator’s new head, appointed by the Secretary for Economy and Finance, Lionel Leong, told […]
Macau’s gambling revenue plunges by a third in November

Macau’s gambling revenue plunges by a third in November

Gambling revenue in Macau plunged 32.3 percent in November from a year earlier, extending a decline from the previous month and hovering near five-year lows as the world’s biggest gambling hub struggled to attract wealthy Chinese punters. Revenues in Macau have fallen for 18 consecutive months due to slowing economic growth and a broader crackdown […]
Macau GDP shrinks 24 pct for 5th straight quarter

Macau GDP shrinks 24 pct for 5th straight quarter

Macau’s economy in the third quarter contracted a fifth straight quarter as the world’s largest gambling hub was pummelled by an economic slowdown in the mainland and the central government’s attack on corruption which scared off high-rollers. The city, which relies on gamblers for about two thirds of economic output, saw its gross domestic product […]
Macau and China’s mainland ink new deal on trade services under CEPA

Macau and China’s mainland ink new deal on trade services under CEPA

Macau and China’s mainland have signed a new agreement under the framework of the Closer Economic Partnership Arrangement (CEPA), further liberalizing trade in services. The new deal, signed in Macau on Saturday, will further expand the total areas of the mainland economy that are fully or partially open to Macau providers of services to 153 […]
Airport repaid Macau government 86 million patacas in 2015

Airport repaid Macau government 86 million patacas in 2015

Local airport operator CAM repaid 86.39 million patacas to the government this year, as part of its repayment plan involving a 1.647 billion patacas loan from the Treasury, Finance Services Bureau (FSM) Director Iong Kong Leong said on Wednesday. The loan was used by the airport to repay the money it borrowed from a number […]
Macau government grants dog track 1-year extension

Macau government grants dog track 1-year extension

Chief Executive Fernando Chui Sai On has authorised Secretary for Economy and Finance Lionel Leong Vai Tac to sign an agreement with Macau Yat Yuen Canidrome Co. Ltd. to extent the firm’s greyhound racing concession for one year, until the end of 2016, according to the Official Gazette (BO). The current concession is due to […]
Macau inflation slows down to 4.16 percent

Macau inflation slows down to 4.16 percent

Macau’s inflation rate slowed further to 4.16 percent last month said the Statistics and Census Bureau (DSEC). A DSEC statement attributed the increment to higher residential rents and rising cost of eating out. The consumer price index of alcoholic beverages and tobacco rose by 34.29 percent year-on-year. The price index of education rose by 8.96 […]
Dog track in Macau seeks 3-year extension, pledges ‘new features’

Dog track in Macau seeks 3-year extension, pledges ‘new features’

The government should extend Macau Yat Yuen Canidrome’s greyhound racing concession for two or three years to give the firm sufficient time to improve its racetrack facilities and add “new features,” said Angela Leong On Kei, the firm’s acting chairwoman. The gaming executive-cum-lawmaker said that the operator had yet to be notified by the government […]
Scholars warn Macau against following in Atlantic City’s footsteps

Scholars warn Macau against following in Atlantic City’s footsteps

Scholars and gaming industry professionals warned the government against following in Atlantic City’s footsteps, urging it to foster economic diversification. A gaming forum was held by the Macau Polytechnic Institute (IPM) on its campus to discuss what Macau can learn from Las Vegas’s success and Atlantic City’s decline. IPM Gaming Teaching and Research Centre Prof. […]
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