The concessionaire’s first quarter results add weight to analysts’ predictions that it will be the first casino operator in Macao to match or exceed its pre-Covid performance.
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The new facility will be located in Chongoene and will handle shipments of so-called ‘heavy sands’ to China, the biggest market for Mozambique’s minerals.
Although GGR is still down on pre-pandemic averages, some analysts are predicting that the gaming sector will recover fully as early as next year.
The new carrier is looking to take on low-cost rivals HK Express and Hong Kong Airlines as well as established players like Cathay Pacific.
Local hotels and tour operators are counting on a big surge in visitor numbers over the Labour Day holiday to add fresh impetus to Macao’s emergence from the pandemic.
The government’s estimate of 70,000 visitors a day during the Labour Day Golden Week holiday is too low, insiders say.
Enhanced services will include special Friday and weekend departures, with peak-time frequencies reaching every 15 minutes from Macao.
A company statement says So, who spent 16 years as SJM’s executive director and chief executive officer, will not seek reelection at the next AGM.
According to data from the Statistics and Census Service, five-star and budget properties performed especially well during March.