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Agencies from Brazil and Macau to further study business missions exchanges

Agencies from Brazil and Macau to further study business missions exchanges

Investment and trade promotion agencies from São Paulo in Brazil and Macau may sign an agreement to intensify the exchange of business missions, ensuring enhanced monitoring on the ground, according to a report from Portuguese-language newspaper Tribuna de Macau. The proposal was presented by the Paulista Agency for Promotion of Investments and Competitiveness (Invests São […]
MGM China revenue drops in Macau 25 per cent in Q1

MGM China revenue drops in Macau 25 per cent in Q1

MGM China’s total revenue dropped 25 per cent year-on-year to HK$3.6 billion in the first quarter, narrowed from the 31 per cent year-on-year decline in the previous quarter, the gaming operator said in a statement on Thursday. According to the statement, adjusted EBITDA fell 23 per cent to HK$995 million. The company’s “business in the quarter was negatively […]
Crown cuts stake in Macau Melco Crown Entertainment for HK$6.2 billion

Crown cuts stake in Macau Melco Crown Entertainment for HK$6.2 billion

Australian mogul James Packer’s Crown Resorts has reduced its stake in Melco Crown Entertainment (MCE) from 34.3 per cent to 27.4 per cent for HK$6.2 billion, Hong Kong-based Melco International Development (Melco) announced Wednesday night. According to the deal, MCE has agreed to repurchase 155 million shares from a Crown Resorts subsidiary called Crown Asia […]
Macau posts trade deficit of US$1.825 billion in the 1st quarter

Macau posts trade deficit of US$1.825 billion in the 1st quarter

Macau’s trade deficit in the first quarter of 2016 reached 14.602 billion patacas (US$1.825 billion), a year on year improvement of 25.3 per cent, reported the Statistics and Census Bureau. According to the Bureau, the trade deficit in the first quarter of 2015 totalled 19.5516 billion patacas. In the first three months of 2016, Macau […]
Macau gaming operator SJM profit falls 44 per cent in Q1

Macau gaming operator SJM profit falls 44 per cent in Q1

SJM Holdings’s profit attributable to the company’s owners fell by 44.1 per cent year-on-year to HK$561 million in the first quarter, the gaming operator said in a statement on Tuesday. The company’s gaming revenue decreased by 22.8 per cent to HK$11.02 billion, while adjusted EBITDA dropped by 32.5 per cent to HK$838 million. According to the statement, […]
Macau’s April casino revenue falls 9.5 per cent in April

Macau’s April casino revenue falls 9.5 per cent in April

Macau’s April casino revenue dropped less than analysts estimated in a sign of stabilization as casinos shift their focus to attracting mass gamblers and tourists. Macau´s gross gaming revenue in April decreased 9.5 percent to 17.3 billion patacas (US$ 2.2 billion), according to data from Macau’s Gaming Inspection and Coordination Bureau, marking 23 months of […]
SJM and Wynn Macau pledge to meet non-gaming revenue goal

SJM and Wynn Macau pledge to meet non-gaming revenue goal

SJM Managing Director Angela Leong On Kei and Wynn Macau Executive Director Linda Chen said that they believe that Macau’s six gaming operators’ revenue from non-gaming business will exceed nine per cent of their total income by 2020, 2.4 percentage points up from 2014.   The government laid down the goal for the city’s gaming operators […]
BNU recorded a MOP 510 million net income in 2015

BNU recorded a MOP 510 million net income in 2015

Banco National Ultramarino, S.A. (BNU) recorded a net income of MOP 510.3 million (USS63.88 million) in 2015, up 15.1 per cent from MOP 443.3 million in 2014, according to a press release issued on Tuesday by the bank. The financial results also indicate that in 2015 BNU registered a 21.6 per cent increase in credit […]
Inflation growth slows in March

Inflation growth slows in March

Macau’s composite consumer price index (CPI), a main gauge of inflation, grew 3.31 per cent in March from a year earlier, according to official data from the Statistics and Census Service (DSEC) revealed on Thursday. This is a decrease of 0.57 per centage points from the 3.88 per cent year-on-year growth recorded in February. DSEC attributed […]
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