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Centaline says low property prices in Macau is attracting overseas capital

Centaline says low property prices in Macau is attracting overseas capital

Property prices and the number of transactions have gone up slightly in the second quarter of this year because Macau’s low prices are attracting overseas buyers to invest in the market, Centaline Macau & Hengqin Property Agency Director Jacky Shek Pou Tak said on Wednesday. The Hong Kong real estate agency’s local office held a […]
MGM lifts Macau stake in US$325 million deal with Pansy Ho

MGM lifts Macau stake in US$325 million deal with Pansy Ho

MGM Resorts International has acquired more shares in its Macau unit in a deal valued at about US$325 million with Pansy Ho Chiu King, who will add to her stake in the Las Vegas-based parent company. According to a statement by MGM China Holdings to the Hong Kong Stock Exchange on Tuesday, MGM Resorts International […]
Wynn Macau to move 250 gaming tables from Nape to Cotai

Wynn Macau to move 250 gaming tables from Nape to Cotai

Wynn Macau announced on Monday that it has got permission from the Gaming Inspection and Co-ordination Bureau (DICJ) to transfer 250 gaming tables from its casino-hotel complex in Nape to Wynn Palace in Cotai. The US gaming company headed by Steve Wynn made the announcement in a statement to the Hong Kong Stock Exchange. According […]
New Secretary-General of the Permanent Secretariat of Forum Macau takes office

New Secretary-General of the Permanent Secretariat of Forum Macau takes office

The new Secretary-General of the Permanent Secretariat of the Forum for Economic and Trade Co-operation between China and Portuguese-speaking Countries (Macau) took office on Thursday. Xu Yingzhen served for several years as Commercial Counsellor of the Department of American and Oceanian Affairs of the Ministry of Commerce of China (equivalent to Director-General level). Xu replaced Chang […]
So says Grand Lisboa Palace to open in 2018 in Macau

So says Grand Lisboa Palace to open in 2018 in Macau

SJM Chairman Ambrose So Shu Fai said that the construction of Grand Lisboa Palace in Cotai was expected to be completed by the end of next year, ready for its official opening in 2018. So made the remarks while speaking to reporters on the sidelines of attending the gaming company’s annual scholarship awards event, which […]
Sociedade de Jogos de Macau casino revenue falls 20.7 per cent

Sociedade de Jogos de Macau casino revenue falls 20.7 per cent

SJM said in a statement yesterday that it’s gaming revenue decreased by 20.7 per cent to HK$20.88 billion. Total revenue dropped by 20.6 per cent to HK$21.13 billion. Adjusted EBITDA fell by 27.8 per cent to HK$1.63 billion. Profit attributable to the owners of the company decreased by 38.7 per cent to HK$1.09 billion. The company’s […]
Macau Monetary Authority: Economy to stabilise next year

Macau Monetary Authority: Economy to stabilise next year

A Monetary and Financial Stability Review compiled by the Monetary Authority indicates that Macau’s economy is back on track and could resume growth already next year. “Macau SAR’s current economic adjustment is cyclical, and the sign of bottoming-out is looming. Economic contraction is likely to continue through 2016 but the degree is narrowing as mainly […]
BNU Macau concludes first six months with net results up 17 per cent

BNU Macau concludes first six months with net results up 17 per cent

Banco Nacional Ultramarino (BNU Macau) concluded the first half of 2016 with year-on-year growth of 17 percent in net results, which amounted to MOP278.57 million (US$34.8 million), said chief executive officer Pedro Cardoso. Cardoso told Macauhub on Monday that all key banking business indicators showed improvements when half-years were compared. He highlighted, for example, the […]
Macau casino gambling revenue shrinks 4.5 per cent in July

Macau casino gambling revenue shrinks 4.5 per cent in July

Macau’s gross gaming revenue in July recorded a monthly decline of 4.5 per cent, amounting to MOP17.8 billion (US$2.2 billion), according to data released from the Gaming Inspection and Coordination Bureau (DICJ), the city’s gaming regulator. July’s gross gaming revenue fell less than the estimated percentage of 5.5 per cent, as the summer holidays brought more tourists […]
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