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Macau Legislative Assembly rejects extradition proposal

Macau Legislative Assembly rejects extradition proposal

In an unprecedented move, a government proposal that would make it possible to sign extradition treaties with Hong Kong and mainland China has been rejected. The Legislative Assembly blames the draft law’s technical problems. Last month, in an interview with TDM, Sonia Chan said a proposal paving the way for an agreement on the surrender […]
Wynn Macau revenue drops 13.8 per cent in Q1

Wynn Macau revenue drops 13.8 per cent in Q1

Wynn Macau’s net revenues dropped 13.8 per cent year-on-year to US$608.2 million in the first quarter, Wynn Resorts said in a statement in Las Vegas last week. Adjusted property Ebitda decreased 9.9 per cent year-on-year to US$191 million. According to the statement, table game turnover in the VIP segment amounted to US$13.47 billion, a 21.4 […]
Agencies from Brazil and Macau to further study business missions exchanges

Agencies from Brazil and Macau to further study business missions exchanges

Investment and trade promotion agencies from São Paulo in Brazil and Macau may sign an agreement to intensify the exchange of business missions, ensuring enhanced monitoring on the ground, according to a report from Portuguese-language newspaper Tribuna de Macau. The proposal was presented by the Paulista Agency for Promotion of Investments and Competitiveness (Invests São […]
MGM China revenue drops in Macau 25 per cent in Q1

MGM China revenue drops in Macau 25 per cent in Q1

MGM China’s total revenue dropped 25 per cent year-on-year to HK$3.6 billion in the first quarter, narrowed from the 31 per cent year-on-year decline in the previous quarter, the gaming operator said in a statement on Thursday. According to the statement, adjusted EBITDA fell 23 per cent to HK$995 million. The company’s “business in the quarter was negatively […]
Macau lawmakers point out flaws in Five-Year Plan

Macau lawmakers point out flaws in Five-Year Plan

Macau’s first Five-Year plan was received with mixed feelings by lawmakers. Many noted flaws and ‘omissions’, mainly in the gaming and social welfare sectors. Lawmakers were introduced today to the government’s draft for the SAR’s first ever Five-Year plan. Initially proposed last month, the draft has put forward a performance baseline for a series of […]
Crown cuts stake in Macau Melco Crown Entertainment for HK$6.2 billion

Crown cuts stake in Macau Melco Crown Entertainment for HK$6.2 billion

Australian mogul James Packer’s Crown Resorts has reduced its stake in Melco Crown Entertainment (MCE) from 34.3 per cent to 27.4 per cent for HK$6.2 billion, Hong Kong-based Melco International Development (Melco) announced Wednesday night. According to the deal, MCE has agreed to repurchase 155 million shares from a Crown Resorts subsidiary called Crown Asia […]
Mission to Brazil promotes Macao as a platform between China and PSC’s

Mission to Brazil promotes Macao as a platform between China and PSC’s

Macau’s economic mission is taking part in São Paulo at the “Feira APAS 2016”, an international trade fair for the supermarket sector organised by the Paulista Association of Supermarkets, from the 2nd to the 5th of May. The delegation, organised by the Macau Trade and Investment Promotion Institute (IPIM), will meet with entrepreneurs and institutions to […]
Macau posts trade deficit of US$1.825 billion in the 1st quarter

Macau posts trade deficit of US$1.825 billion in the 1st quarter

Macau’s trade deficit in the first quarter of 2016 reached 14.602 billion patacas (US$1.825 billion), a year on year improvement of 25.3 per cent, reported the Statistics and Census Bureau. According to the Bureau, the trade deficit in the first quarter of 2015 totalled 19.5516 billion patacas. In the first three months of 2016, Macau […]
Macau gaming operator SJM profit falls 44 per cent in Q1

Macau gaming operator SJM profit falls 44 per cent in Q1

SJM Holdings’s profit attributable to the company’s owners fell by 44.1 per cent year-on-year to HK$561 million in the first quarter, the gaming operator said in a statement on Tuesday. The company’s gaming revenue decreased by 22.8 per cent to HK$11.02 billion, while adjusted EBITDA dropped by 32.5 per cent to HK$838 million. According to the statement, […]
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