Not only will Macao increase the number of MICE events it hosts, it will broaden the scope of subject matter covered at these events, an IPIM official says.
Business
If achieved, the tally would be 70 percent of 2019’s tourism numbers – slightly better than what the government predicted in November.
The top ratings agency has made its predictions for next year’s global gaming industry, and sees continuing growth in Asia in spite of China’s weakening economy.
The local government has strongly condemned the new rating, which was made because of the city’s close ties to mainland China’s sluggish economy.
Macao’s oldest gaming concessionaire has a new chief financial officer, one with extensive experience in investments, real estate and corporate finance.
Analysts say the US-based gambling empire’s move shows the high level of confidence that it has for its Macao-based subsidiary.
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.
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.