The government crackdown has reportedly pushed both gamblers and junket operators themselves towards less regulated Southeast Asian casinos.
Business
Official figures show July was the best performing month for hotels, with festive season demand pushing December into second place.
In financial terms, the company did significantly better in 2023 than it did in 2022, but the numbers still fall well short of pre-pandemic totals.
Robert G. Goldstein, CEO of parent company Las Vegas Sands, said he was ‘extremely pleased’ with the latest financial and operating results.
Launched at the end of 2021, the depository plays a key role in the SAR’s emerging financial sector, in particular the securities market.
Macao’s financial reserve bounced back from declines last September and October, reaching a total of 574.4 billion patacas at the end of the first 11 months of 2023.
The concessionaire’s COO takes over the reins from Robert Goldstein, while Wilfred Wong is set to become executive vice chairman.
The authorities have drawn up a formal structure for the supervision of the extensive non-gaming investments required of casino operators.
The city’s international arrivals are still less than half of what they were before the pandemic, leaving Macao as dependent as ever on domestic tourism.