MGM China is trading just a fraction above its 1 January level. The five other concessionaires’ share prices have dropped between 21 and 48 percent.
Business
The official designation is a significant win for Macao’s tourism industry, which wants to lure more foreign visitors to the city.
The dip was anticipated by the gaming sector, given that October’s figure reflected the ‘golden week’ holiday windfall.
The 4.04 million passengers who travelled via Macao’s airport between January and October represent just over half of the total recorded in pre-pandemic 2019.
Adelson is reportedly selling 10 percent of her stake in order to fund the purchase of the NBA team Dallas Mavericks.
The latest jobs survey shows increased demand for hospitality staff as the city’s tourism industry bounces back.
The post-pandemic growth of the sector and its stellar performance compared to Hong Kong bode well.
Almost 1,250,000 people stayed at least one night in Macao during October, meaning the city’s 137 hotels were more than 82 percent full.
Ji Xiabo, whose whereabouts are unknown, is the latest high-profile junket operator to have run foul of the law.