The casino operator says it intends to ‘vigorously contest’ allegations made against it by Cabo Verde’s government, which pulled the pin on a long-stalled casino project
Business
Visitors to Macao are on the rise, driving tourism dollars into the economy – but experts argue that focusing on a single indicator is misguided
Macao has launched a significant land reclamation project to expand its airport, aiming to boost annual passenger capacity to 15 million by 2030
The new budget will be the second balanced budget since the Covid-19 pandemic and is based on a projected government revenue of 121 billion patacas
Figures for October show that while same-day visitors surged by 23.3 percent, overnight visitors grew by a mere 3.1 percent year-on-year
The Macao government has expressed confidence that the visitor arrival figures this year will exceed the original projection by 1 million
Sales fell to around 53 billion patacas, while the average sales volume dropped by roughly 21 percent during the initial three quarters of this year
Analysts say the government has failed to accurately forecast GGR in nine out of the last ten years, with discrepancies as high as 60 percent
Bargain hunters may be taking advantage of a significant fall in overall residential property prices per square metre