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Banker calls for Macau government investment fund

Banker calls for Macau government investment fund

The government should establish an investment fund to manage Macau’s financial reserves, said Delta Asia Financial Group Chairman Stanley Au Chong. Au made the appeal on the sidelines of a banquet celebrating the 80th anniversary of the founding of Banco Delta Asia, a local bank owned by the group, at Grand Hyatt Macau in Cotai […]
Paulo Martins Chan confirmed as new Macau DICJ director

Paulo Martins Chan confirmed as new Macau DICJ director

Assistant Public Prosecutor-General Paulo Martins Chan has been confirmed as the new director of the Gaming Inspection and Coordination Bureau (DICJ), the Secretary for Economy and Finance, Lionel Leong, revealed on Friday. The appointment of Paulo Chan to lead the bureau has been endorsed by Chief Executive Chui Sai On and will take effect from […]
Macau casinos insist on smoking lounges

Macau casinos insist on smoking lounges

Lawmaker Andrew Chan Chak Mo said that the city’s six gaming operators and the Macau Gaming Junket and Entertainment Association (AMJEM) insist that the government should not ban smoking lounges in casinos. Representatives of the six operators and junket association were invited to attend a special meeting of the legislature’s 2nd Standing Committee so that […]
Sports betting seen as way to re-invigorate gaming industry in Macau

Sports betting seen as way to re-invigorate gaming industry in Macau

Underdevelopment and lack of investment in the gaming industry’s sports betting sector is a missed opportunity “that the government seems in no hurry to fix,” according to a Forbes article. Currently there aren’t sports betting lounges in local casinos. The only sports betting operator in the SAR is Macau Slot, an affiliate of Stanley Ho’s […]
Macau non-resident construction wages soar 8.5 percent

Macau non-resident construction wages soar 8.5 percent

The average daily wage of non-resident construction workers increased by 8.5 percent to MOP661 in the last quarter due to a surge in demand, according to data from the government. In particular there has been an increase in demand for labourers engaging in interior finishing works of large-scale entertainment facilities, currently in progress in Cotai. […]
Macau’s casino revenue fell for the 17th straight month

Macau’s casino revenue fell for the 17th straight month

Macau’s casino revenue fell for the 17th straight month, as increased visits over China’s National Day holiday week failed to boost traffic at betting tables in the world’s largest gambling hub. Gross gaming revenue fell 28.4 percent year on year to MOP20.1 billion (USD2.5 billion) in October, according to data released by Macau’s Gaming Inspection […]
Growth in retail receipts falls to lowest since 2004

Growth in retail receipts falls to lowest since 2004

According to government data, growth in retail receipts has fallen to its lowest rate since 2004 – a slowdown in the year-on-year growth to only 4.3 percent, which amounts to a total of MOP 68.75 billion. The authorities suggested that the reason for this change might be a slowdown in visitor spending. Information released by […]
MGM China revenue drops in 3Q but EBITDA margin improves

MGM China revenue drops in 3Q but EBITDA margin improves

MGM China announced on Thursday in a statement to the Hong Kong Stock Exchange that its net revenue fell 33 percent year-on-year to US$529 million in the third quarter. Main floor table games revenue dropped 30 percent year-on-year. VIP table games revenue decreased 39 percent year-on-year due to a decrease in VIP table games turnover […]
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