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Macau’s GDP decline slows to 7.1 per cent in Q2

Macau’s GDP decline slows to 7.1 per cent in Q2

Macau’s gross domestic product shrank by 7.1 per cent year-on-year in real terms in the second quarter of the year, showing signs of improvement compared with the first quarter, the Statistics and Census Bureau (DSEC) said on Tuesday. GDP contracted by 13.3 per cent in the first quarter. A DSEC statement attributed the lower GDP […]
Macau’s Wynn Palace officially opened

Macau’s Wynn Palace officially opened

Wynn Palace opened Monday night, drawing big crowds to Cotai to try their luck in the new casino, while Wynn Resorts Chairman & CEO Steve Wynn told a ballroom full of guests that the new US$4 billion resort that took six and a half years to build was a “gift” to the community. “It’s our […]
Macau inflation continues slowing down

Macau inflation continues slowing down

Growth in the city’s composite consumer price index (CPI) continued to slow down last month, rising just 2.08 per cent year-on-year, a decrease of 0.18 percentage points from the 2.26 per cent growth in June, the Statistics and Census Bureau (DSEC) announced on Monday. A DSEC statement attributed last month’s increase mostly to higher rentals […]
Macau’s gaming sector jobs fall 3 per cent in Q2

Macau’s gaming sector jobs fall 3 per cent in Q2

Macau’s vitally important gaming sector had 55,708 full-time employees at the end of the second quarter, down by 3.0 per cent year-on-year, the Statistics and Census Bureau (DSEC) announced on Monday. According to a DSEC statement, the number of dealers (croupiers) fell by 3.1 per cent to 24,285. Shift-working staff accounted for 92.7 per cent […]
Macau visitors spend less in Q2 on non-gaming

Macau visitors spend less in Q2 on non-gaming

Visitors’ per-capita non-gaming spending fell by 4 per cent year-on-year and 3.4 per cent quarter-to-quarter to 1,601 patacas in the second quarter, the Statistics and Census Bureau (DSEC) has announced. According to a DSEC statement, visitors’ total non-gaming spending in the second quarter amounted to 11.7 billion patacas, down by 4.5 per cent year-on-year but […]
Macau recommends new projects for Hengqin Industrial Park

Macau recommends new projects for Hengqin Industrial Park

The Macau government is preparing to recommend a second group of projects for the Guangdong-Macau Industrial Cooperation Park on Hengqin Island, announced the Macau Trade and Investment Promotion Institute (IPIM). IPIM’s statement said that the Board of Management of the Hengqin New Area, in the municipality of Zhuhai, suggested the Macau government should present new […]
Wynn bets on ‘luxury for all’ at Macau Wynn Palace

Wynn bets on ‘luxury for all’ at Macau Wynn Palace

Wynn Resorts Chairman & CEO Steve Wynn said on Wednesday that his US$4.2 billion Wynn Palace would cater for everybody, but suggested that those looking for theme parks visit Hengqin Island. Wynn made the comments during a press conference at Wynn Palace in Cotai which officially opens on Monday night. “Our strategy of the hotel […]
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 […]
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