Macao remains a fair way off its pre-pandemic economy, but the open borders are doing their thing.
Business
Predictably, the labour sector is in favour but a leading business figure warns that the raise will be passed on to consumers in the form of higher prices.
A US$1 billion refurbishment will see revamps of the two of the resort’s five hotels, updating rooms that haven’t been refreshed since the resort was known as Sands Cotai Central.
CEO Robert Goldstein said he was ‘pleased to see the ongoing recovery now underway in all gaming and non gaming segments progress during the quarter.’
Has the tourism recovery already peaked? Figures showing another straight month of decline pose tough questions for the sector.
With the development’s final survey to be completed next month, the units can be put on the market slightly earlier than expected.
The news comes as the government makes moves to liberalise the local aviation sector and end the monopoly of Air Macau, of which Ho is also a director.
A projection from the Macau Economic Association says indicators are slightly below expectations but stable and improving.
Though no date has been fixed, the two SARs have agreed in principle to allow goods vehicles to use the Hong Kong-Zhuhai-Macao Bridge.