CEO points to expansion of retail and F&B at Grand Lisboa Palace as investment in Macao tourism and trust in obtaining new concession.
SJM
Major industry players step back in the run-up to new laws which aim to clean up gaming and protect Macao’s image as an international leisure destination.
Troubled junket operation, whose former boss Alvin Chau is in custody, ceases travel business which had made up around 12% of its total revenue.
Taking illegal deposits could land offenders in prison for up to five years, once Legislative Assembly passes proposed bill.
Group sent memo to staff noting ‘careful consideration’ and ‘grievous’ nature of the move.
Gaming industry amendment bill likely to bring radical changes to city’s 42 casinos and their nearly 18,000 revenue-generating tables and slots.
Gaming concessionaire reports mixed results for the year when it opened its new trophy property, Grand Lisboa Palace.
With an interior entirely conjured up by the late design maven, the new property raises Macao’s hotel tally to new heights.
Macao’s gaming operators also take a hit for the second day, suffering losses of up to 6.5% following Suncity CEO Alvin Chau’s arrest at the weekend.