Author: Lynzy Valles, MDT
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Chambers continue to call for gov’t to lift cooling measures amid sector woes
The effects of the global pandemic in the city’s realty sector have consumed a lot of cash flow, making it difficult for companies and small property ... -
Macau’s migrant population grows, ageing ratio climbs 106%
Macau’s demographics slightly increased last year as its number of non-residents grew, following the city’s reopening after the pandemic. This fact has renewed a push to ... -
SJM Holdings narrows loss in 2023 as earnings top HKD20b
Gaming operator SJM Holdings Ltd. reported a loss in 2023, attributing it to the sectors recovery, after recording a full-year loss of HKD2.01 billion, from nearly ... -
2023 GDP rebounds to 80% pre-pandemic levels
Macau’s economy expanded by 80.5% year-on-year in 2023, following the gradual resumption of local economic activity and exports of services. Government data shows GDP returned to ... -
Chambers warn of grim post-pandemic property market
Real estate associations have continued to stress that the property market in the SAR has not improved, even after the pandemic, amid robust growth in the ... -
Visitor expenditures surpass 2019 levels
Total visitor spending, excluding gaming expenses, surged to MOP71.25 billion in 2023, surpassing pre-pandemic levels by 11.2%. Data from the Statistics and Census Service (DSEC) shows ... -
Fitch forecasts further improvement supported by steady tourism recovery
Fitch Ratings anticipates 15% economic growth for Macau this year, with gaming tourism recovery underpinning its expectations of strong economic growth for Macau in 2024. The ... -
Chan Chak Mo: Business in non-tourist areas far from recovery
Despite robust economic growth and recovering consumer spending, restaurants and retailers in non-touristy areas are far from recovery. The recent 10-day Chinese New Year holiday period ... -
Overseas spending of Alipay users surpasses 2019 figures
The Year of the Dragon started strong as preliminary data from Alipay shows the number of outbound spending transactions by Alipay users during the 2024 Spring ... -
MGM records all-time high in revenues as casino shares hit 20%
Last year was MGM China’s best in terms of income collected, hitting 20% market share. In an earnings report, the gaming operator revealed all-time highs for ... -
January GGR beats analysts’ projections as revenues surge 67%
Macau’s casino revenues surged 67% year-on-year in January to MOP19.3 billion, beating analysts’ estimates as the sector continues its recovery ahead of the Chinese New Year. ... -
Fresh poultry returns to city’s markets
The retail sale of fresh poultry meat will return to Macau’s market this Friday, following the temporary cessation of retail sales in the region in 2017 ... -
Taxi fares may hike 10% during the CNY
Macau may see a taxi fare hike of 10% just before the Chinese New Year (CNY), as the Macau Taxi Driver Mutual Association has long-called for ... -
Suicides rose to 88 in 2023
Macau saw a total of 88 suicides in 2023, slightly higher than the 80 recorded in 2022. In a statement from the Health Bureau (SSM), data ... -
Airline ramps up flights for Hong Kong, Macau as China braces for travel rush
Flag carrier Air China has ramped up its route capacity and services during the Jan. 26 to March 5 travel rush for Spring Festival. The national carrier ... -
2023 unemployment rate slightly down amid recovery
The general unemployment rate and the unemployment rate of local residents in 2023 decreased by 1.0 and 1.4 percentage points year-on-year to 2.7% and 3.4% respectively, ... -
Slash in junkets a ‘normal market adjustment’
The slash in the number of Macau’s junkets is in line with the city’s development on economic transformation. Macau has again seen a reduction of licensed ... -
Central Hotel to enter new era in targeted Q1 opening
The newly revamped Central Hotel is now ready to open its doors to the public, entering a new era and likely on its way to returning ... -
Gov’t targets three million international visitors this year
Tourism authorities aim for three million international arrivals this year – a figure similar to pre-pandemic levels. Considering the 1.46 million foreign arrivals last year, three ... -
Casino revenues projected to slow down
Industry insiders foresee that gross gaming revenue (GGR) will face a slight deceleration, estimating a range between MOP540 million and MOP590 million per day. The full-month ... -
Suncity-linked online gambling sees RMB300 billion bets placed in China
Former junket mogul Alvin Chau’s betting volume of domestic online gambling players reached more than RMB300 billion throughout China. The Chinese media outlet, CCTV, yesterday disclosed ... -
Airport traffic volume in 2023 recovers to 55% pre-pandemic levels
The traffic volume of Macau International Airport (MIA) gradually recovered last year as it recorded a significant increase in air passengers, with a total annual airport ... -
SJM to see positive cash flow in 2024
Fitch Ratings has revised the Outlook on SJM Holdings Limited’s (SJM) Long-Term Foreign-Currency Issuer Default Rating (IDR) to Stable from Negative as the outlook reflects the ... -
Number of junkets plunges to 18 this year
Macau has again seen a reduction of licensed junkets this year after figures from the government show the number of gaming promoters has been slashed to ... -
2023 GGR hits MOP183b, spurring increased investment
After three tumultuous years for the casinos, the sector experienced significant upturn in 2023 following the reopening of the borders. Macau’s casino revenues hit MOP183.06 billion ... -
Gaming ops to increase investments as casino revenues hit MOP183b in 2023
Macau’s casino revenues hit MOP183.06 billion for the whole year of 2023. Data from the Gaming Inspection and Coordination Bureau shows that gross gaming revenues in ... -
Economy to surge up to 21% in 2024
Macau’s economy is forecasted to experience significant growth of between 8.3% and 21.0% in 2024, driven by diversification efforts. The University of Macau’s (UM) Macroeconomic Forecast ... -
Gaming Citi: GGR in Christmas and New Year to grow
Macau’s gross gaming revenue (GGR) for the first 17 days of December may reach about MOP9 billion, Citi Research forecasted in a report based on the ... -
IFTM to be classified as university in the future
The Macao Institute for Tourism Studies (IFTM) is to be renamed ‘Macau University for Tourism Studies.’ During the First Standing Committee meeting, lawmaker Ella Lei cited documentation submitted by ... -
JLL: Global economic slowdown weighs on SAR’s property market
Macau’s property market is being affected by interest rate hikes, global economic slowdown and mainland China’s slowing economic recovery. In its 2023 GBA Residential Market Update, ... -
Potterheads in for a treat as Harry Potter exhibition opens today
Potterheads are in for a treat as an exhibition on Harry Potter and the entire Wizarding World kicks off today at The Londoner. From today, guests ... -
Macau to retain strong growth: Fitch
Fitch Ratings predicts Macau’s year on year growth to remain strong, at 15% in 2024 from 76% in 2023, off the back of sharp rebounds in ... -
National security education to be implemented in 2024 academic year
A complete set of national security education supplementary teaching materials will be published in the new 2024-25 academic year, which will gradually be rolled out to ... -
Salaries of 75% respondents remained stagnant following pandemic
A survey shows that the income of nearly 75% of respondents has remained the same since 2019, not receiving any salary rise during the pandemic amid ... -
Casinos face lowest trading levels since border reopening
Macau concessionaires are trading at rock-bottom valuations since earlier this week as operators were saddled with declines of at least 20% since the beginning of the year. ...
