Author: Lynzy Valles, MDT
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Tourist arrivals over 143,000 in first five days of holidays
The first five days of the Golden Week National Holiday recorded 143,102 tourist arrivals: figures the government has dubbed “gratifying.” The first day of the holiday ... -
Casino woes: September revenues down 50% y-o-y
September has been another bleak month for the city’s casinos as revenues plunged 49.6% year-on-year to MOP2.96 billion, another blow to the sector as China’s lockdown ... -
Unemployment rate rises to 5.5%
The city’s unemployment rate continues to rise as the city struggles through the fallout from the pandemic crisis that has caused a downturn in the local ... -
Daisy Ho appointed SJM managing director amid law overhaul
Daisy Ho has been appointed managing director (“administradora-delegada”) of SJM Resorts, S.A., amid the ongoing tender selection process regarding who will be awarded the 10-year gaming ... -
Hotel sector bullish on holidays as search traffic for local OTAs up 130% y-o-y
The hotel sector has been seeing a pick-up in arrivals during the holiday period at an accelerated pace in the past two weeks, the Macau Hotel ... -
Investment firm predicts mass GGR to reach 40% pre-pandemic levels in Q4
UBS analyst Angus Chan is estimating that the city’s mass gross gaming revenue (GGR) will reach 40% of pre-pandemic levels in the fourth quarter. With optimism, ... -
UM forecasts economic growth to drop up to 29% in 2022
The University of Macau (UM) estimates that economic growth will drop between 26.4% and 29.2% this year. This is followed by a drop between 31.3% and ... -
Morgan Stanley: Amid group visa hype, recovery only apparent in 2024
Brokerage firm Morgan Stanley observed that the recovery of the local gaming sector may only be seen by 2024, despite the long-awaited announcement of group visa ... -
Casino stocks soar ahead of group visa reinstatement
Gaming shares soared yesterday, the highest surge recorded in six months following a long- awaited announcement that will bring an end to the tourism drought that ... -
Cheong: Resumption of group travels to boost gaming operators’ investment confidence
As Macau prepares to welcome the return of mainland tour groups from end-October, seven hopeful gaming concession bidders are likely to gain confidence from the move, ... -
Gaming tender committee to meet with bidders for proposal discussions
The committee for the gaming tender bids is set to meet with the seven companies competing for the six concessions from next week, when competitors present ... -
HKSAR may announce end to quarantine as Macau continues to adhere to policy
US-listed gaming operators’ casino stocks in the city climbed earlier this week following reports that Hong Kong could announce the end of mandatory quarantine this week, ... -
UNESCO urged to review Guia Lighthouse project in new letter
A concerned group is urging UNESCO to maintain a firm stance on the decision it made in 2008 in reducing the height of the building project ... -
Genting ‘prospective rescuer’ if incumbent operator continues to face cash bleed
Genting’s bid in the gaming tender may be a way to partner itself to an incumbent gaming operator in financial turmoil, according to a note issued ... -
Alvin Chau attests no association with side-betting
The under-trial junket mogul Alvin Chau has denied any allegations that he was involved in illegal activities of multiplier bets for high rollers. In the first ... -
Seven companies bid for new gaming concessions
It is either go big or go home for the seven hopeful bidders who submitted their gaming proposals to the government. All proposals were submitted in ... -
Wynn submits bid for 10-year casino licenses
Gaming operator, Wynn Macau, submitted its tender to the government for a 10-year casino concession yesterday, one day ahead of the deadline. The gaming operator stated, ... -
Retailers hopeful for revenue boost from shopping event despite cautious spenders
Sands China’s 2022 Sands Shopping Carnival concluded yesterday, providing a free business platform for local small and medium enterprises (SMEs) in turmoil due to the lingering impacts ... -
Gaming sector suffers from outbreak aftermath as slumps continue in August
Macau’s gross gaming revenue fell to MOP2.19 billion in August, a plunge of 50.7% year-on-year, as the city struggles with the aftermath of its largest outbreak ... -
Economy shrinks by nearly 40% amid pandemic woes
The city’s economy contracted 39.3% year-on-year in the second quarter of 2022 amid the pandemic outbreak in the neighboring regions, which affected the city’s border restrictions, ... -
Minimum casino table income set at MOP7 million, tables capped at 6,000
The maximum number of gaming tables for all casinos in the city is capped at 6,000, while gaming machines have a maximum of 12,000 from 2023, ... -
Unemployment rate reaches record high at 5.4%
The unemployment rate of local residents for May-July 2022 rose to 5.4%, a record high since 2008, according to the available data disclosed by the government. ... -
The Star’s ties with Chow Tai Fook under questions amid alleged triads links
Australia’s The Star casino has been put into question as it partnered with a major shareholder that allegedly has ties with several notorious gangsters in Hong ... -
DSEDJ staff allegedly embezzle MOP500,000 through forgery
The city’s corruption watchdog has discovered that a worker at the Education and Youth Development Bureau (DSEDJ) secretly controlled a youth association and allegedly embezzled subsidies ... -
IAM warns public not to leave garbage outside ahead of strengthening storm
The Municipal Affairs Bureau (IAM) is calling on the public to store domestic waste indoors before the Tropical Cyclone Signal number 8 is issued, and not ... -
Property market falls; residential sector records ‘historic low’
The city’s property market will remain under pressure from adverse factors such as continued border closures, coupled with potential interest rate hikes, according to realtor JLL. ... -
Electric price spikes frustrate residents amid current financial turmoil
This month’s electricity bills, spiking even amid the government’s utility subsidies, have surprised many households. Yesterday, the Times was informed that residents were seeing their electricity ... -
Mandates on fighting the pandemic ’violate the law’
Several residents who were supposed to exit the quarantine hotel on August 17 have been mandated to stay as their quarantine is extended. This news was ... -
MGM China to inject USD594m for local unit ahead of license bid
MGM China is set to pump USD594 million into its Macau casino operator as the company prepares to bid for a new license amid the law ... -
‘Firm recovery’ only in 2023 as gaming sector losses up to USD2b in first half
The gaming sector may only see steady recovery in 2023, says investment banking company Jefferies Group, as all gaming operators have reported revenue losses of up ... -
Travel City drops entry ban for foreigners residing in the mainland
Foreigners residing in mainland China can enter Macau without undergoing quarantine from today. According to a dispatch from the Chief Executive, these foreign passport holders can ... -
MGTO to resume ‘Macao Week’ in September
The Macao Government Tourism Office (MGTO) is set to resume its in-person promotional campaigns with visits to different regions after the city’s coronavirus outbreak in mid-June ... -
Melco sees local operations’ revenues drop by nearly half
Heightened border restrictions in Macau and mainland China related to Covid-19 have dealt a blow to gaming operator Melco Resorts & Entertainment Limited as its second ... -
GEG confident in new concession, reports 40% revenue drop in Q2
Galaxy Entertainment Group (GEG) recorded a net revenue of HKD2.4 billion in the second quarter, down 56% year-on-year and down 41% quarter-on-quarter. According to its second ... -
Group of migrant workers who faced maltreatment appeals to CE
A group of 18 non-resident workers has submitted a petition to the Chief Executive (CE) requesting assistance regarding the alleged abuse they have faced while being employed ...
