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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 […]
Manuel das Neves to leave Macau Gaming Inspection Bureau

Manuel das Neves to leave Macau Gaming Inspection Bureau

Manuel Joaquim das Neves will relinquish his position as the Gaming Inspection and Coordination Bureau (DICJ) director. After leading the bureau for 18 years and working as a civil servant for 31 years, Manuel Neves revealed to TDM that he intends “to take a break” and “devote more time to family and leisure.” Questioned about […]
Macau unemployment rate remains stable

Macau unemployment rate remains stable

The unemployment rate for the July-September period has remained stable with little change compared with the June-August period, according to data from the government. The unemployment rate remained at 1.9 percent, with the number of unemployed up by 100 to 7,600 persons. Of the total labor force of 402,500, labor force participation also remained at […]
Laurence Ho says shift to Macau’s mass market ‘likely permanent’

Laurence Ho says shift to Macau’s mass market ‘likely permanent’

The drop in gaming revenues in the last 18 months has brought changes to local casinos’ high-roller market, Melco Crown Entertainment (MCE) Co-chairman and CEO Lawrence Ho Yau Lung said on Tuesday, adding that the shift from the high-rolling VIP to the mass market was “likely to be a permanent one.” “There has been a […]
Mainland-Macau Trade rises 35.2 percent in nine months

Mainland-Macau Trade rises 35.2 percent in nine months

Trade between the Chinese mainland and Macau increased by 35.2 percent year-on-year to USD3.56 billion during the first nine months of 2015, the Ministry of Commerce revealed on Tuesday. The mainland’s exports to Macau rose by 37.4 percent year-on-year to USD3.42b during the January-September period. The MSAR’s exports to the mainland totaled USD140m, a decrease […]
East European gang steals over 1,000 card details

East European gang steals over 1,000 card details

An East European gang has stolen the details of over 1,000 ATM and credit cards since last October, Chan Cho Man, a Judiciary Police (PJ) spokesman, said on Monday. According to Chan, the police received calls from five banks from March to May, which reported that someone was trying to withdraw money from 26 of […]
MIF registers slight increase in trade visitors, some exhibitors disappointed

MIF registers slight increase in trade visitors, some exhibitors disappointed

More professional purchasers showed up at this year’s 20th Macau International Trade and Investment Fair (MIF) than last year, according to the organizer’s preliminary data. Running over four consecutive days at The Venetian Macao since last Thursday, the event saw a total of 50 agreements inked between chambers and governments as well as around 574 […]
Macau is equipped to cope with adversity says Leong Vai Tac

Macau is equipped to cope with adversity says Leong Vai Tac

Secretary for Economy and Finance Lionel Leong Vai Tac said on Thursday that the foundation of Macau’s economy has remained relatively stable and is equipped with the conditions and ability to cope with adversity while the city is undergoing a period of economic adjustment. Addressing the opening ceremony of the 20th Macau International Trade and […]
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