Analysts say that Macao’s strong GGR performance last month outpaced market expectations and bodes well for the coming year.
Business
The positive balance arrived courtesy of better-than-forecast gaming tax revenue, but mainly came down to significant spending cuts.
With the renewal of its 2024 hotel licence and renovation work apparently underway, the ultra-luxury hotel could potentially reopen its doors to the public later this year.
The chairman of the FMCC has been made a Knight of the National Order of Merit for his contribution in strengthening ties between France and Macao.
In its first year since the reopening of borders, Macao saw a 70 percent recovery in visitor arrivals compared to pre-pandemic 2019.
Foreign and Taiwanese travellers will be eligible for the perk, in a bid to boost tourism via Macao’s sister SAR.
Macao’s casinos surpass 2023 revenue targets, triggering mandatory non-gaming investment hikes for operators in 2024.
Domestic exports in particular posted a major slide, decreasing by almost a quarter during the period from January to November in Macao.
A local labour group believes more regulations around gaming staff are needed to boost service quality and says staffers themselves are largely on board.