Author: Lynzy Valles, MDT
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Negative EBITDA expected for casino operators facing mayhem
The current Covid-19 outbreak against which the city is waging war is set to lead to a negative EBITDA for casino operators in the second quarter. ... -
Nansha to deliver subsidies up to RMB120,000 targeting SARs’ youth
Financial measures targeting residents of Hong Kong and Macau have been taken by Nansha, meaning each youth can receive a one-time employment reward of up to ... -
Revenue slump persists as city deals with worsening outbreak
Macau’s gaming revenues have fallen to a new low – since September 2020 – as the city faces its largest outbreak yet, after recording low numbers ... -
CE to attend Hong Kong’s 25th anniversary and inauguration of John Lee
Chief Executive Ho Iat Seng is in Hong Kong until July 1 as the neighboring region marks the 25th anniversary of its return to the motherland. ... -
Hotel occupancy plummets 34% in May
The average occupancy rate of guest rooms in May dropped by 27.9 percentage points year-on-year to 34.2%, with the occupancy rate for 5-star hotels lower than ... -
Trade union federation calls for clearer guidelines for casino employees
Lawmakers representing the workers’ association have called for clearer guidelines for casino employees regarding who is to bear the costs of mandatory nucleic acid tests (NATs) ... -
JP Morgan expects new licenses bid from July as gaming law promulgated today
Brokerage JP Morgan is expecting the new public tender for the city’s gaming licenses to commence in late July or August, basing its expectations on the ... -
Hotel sector in yet another crisis, bids summer farewell
The goal was concrete: To recover and see a boost in visitor arrivals this coming summer. But now with the fresh outbreak facing the city, ... -
Covid-19 tally rises to 65 after 16 new cases
Macau has registered 16 fresh case as of 9 a.m. today, bringing the total caseload to 65. The cases involve 45 women and 20 men, aged ... -
UNESCO to present local heritage protection group’s outcry to Beijing
A group that has been calling for the safeguard of a prominent element of Macau’s heritage has announced that UNESCO will bring the matter to Beijiing in accordance ... -
Gov’t reports 10 new cases, tally rises to 46
Macau is still battling with its worse Covid-19 outbreak yet as the city has already recorded a total of 46 new SARS-CoV-2 infections of unknown origin ... -
Analysts expect ‘near-zero’ revenue while casino stocks plunge following outbreak
Macau’s casino stocks saw a plunge yesterday after the government’s announcement of a new wave of Covid-19 cases dealt a fresh blow to the crippled gaming ... -
Fitch maintains negative watch on operators, downgrades economic recovery
Fitch Ratings has expressed reduced confidence in Macau’s economic recovery as the city’s zero-Covid strategy “continues to constrain the cash-flow generation ability of Macau’s operators.” Analysts ... -
Macau kicks off mass testing following discovery of 12 positive cases
A citywide mass testing for Covid-19 will commence at 12 p.m. today as at least 12 positive cases were reported earlier today, the Novel Coronavirus Response ... -
City enters another ‘immediate prevention status’
As of 1 a.m., the Macau SAR entered the “immediate prevention status” — just several minutes after the Novel Coronavirus Response and Coordination Centre announced that ... -
Lawmaker questions gov’t on high number of migrant workers
Lawmaker José Pereira Coutinho is again insisting that the government clarify the high number of non-resident workers in the city, citing that half of the working ... -
Amagao Gallery unveils exhibition to celebrate Portuguese artists
Amagao Gallery has unveiled its new art exhibition ‘Lusografia’ at Artyzen Grand Lapa Macau, featuring a total of 70 art works from 24 Portuguese artists. The ... -
No entry permit required for foreigners arriving from the mainland
Foreigners who hold a temporary residency permit or a special permit to stay in the SAR will be allowed to enter the city from the mainland ... -
Gov’t widens scope of SME insurance policy
Small and medium-sized enterprises’ (SME) insurance coverage has been expanded to cover losses during black rainstorm warning signals, a joint-statement issued by government bureaus states. In ... -
CE confident on H2 economic recovery
The Chief Executive Ho Iat Seng has expressed his confidence in Macau’s economy picking up by the second half of the year. On Friday in Guangzhou, ... -
Macao Art Festival concludes with 90% ticketing rate
Nearly 30,000 people participated in the programs and outreach activities of this year’s Macao Art Festival, which was themed “Invigorate.” “The overall ticketing rate reached nearly ... -
Gov’t shortens quarantine period to 10 days
The quarantine period for inbound travellers from overseas will be shortened from 14 days to 10 days, the government announced today. From June 15, individuals who meet certain conditions and ... -
Las Vegas union calls on Macau gov’t to release land transaction records amid worries over alleged triad involvement in Treasure Island deal
An international union has submitted a public records request regarding the land transaction involving Genting Group and Ao Mio Leong to the Land and Urban Construction ... -
Photographer to launch zine with images of Basque pelota
A Macau-based photographer is set to launch a photographic magazine featuring images of history in certain districts, kicking off the first issue with “Memories of Jai ... -
GGR down 68% y-o-y as casinos burn millions in cash daily
Macau’s gaming industry is still suffering from a slump in revenues, registering a 68% year-on-year drop in its May income as casinos burn millions of dollars of ... -
NAT validity extended to seven days
The nucleic acid test (NAT) validity for individuals entering Macau from Guangdong Province has been extended from 72 hours to seven days from today, The Novel ... -
Sands China: Expats still needed in the SAR
Amid the deteriorating employment status in the SAR, Sands China has affirmed that there is still a need for expats in the region. The pandemic has ... -
Number of hotel employees down 4.7% y-o-y with non-renewal of TNR contracts
Local hotels employed 47,355 full-time staff at the end of the first quarter, down by 4.7% year-on-year, according to recent data from the Statistics and Census ... -
Artist integrates ancient Chinese art forms into multimedia landscape installation
Jennifer Wen Ma, an artist working in multiple media, is showcasing a sculptural landscape installation at MGM Cotai, continuing to follow her roots in Chinese ink ... -
Q1 GDP 50% lower than pre-pandemic levels
The Macau SAR’s gross domestic product (GDP) has declined further, by 8.9% year-on-year in real terms in the first quarter of 2022, as a result of ... -
Employment rate remains unchanged with 13,300 jobless
The city’s total employment figure stood at 370,400 and the number of employed residents totaled 278,800 in the February to April period, down by 800 and ... -
SJM to purchase Oceanus for nearly MOP2b in convertible bonds
SJM Resorts Ltd. has entered into an agreement to purchase the Oceanus building for MOP1.91 billion, which the gaming operator has deemed “imperative, as it enables ... -
MP indicts Alvin Chau for heading criminal group
The Public Prosecutions Office (MP) has indicted junket mogul Alvin Chau for founding and directing a “secret association,” according to a report issued by the TDM ... -
Scholars concern over UM’s ‘absorption into mainland’
Academics have expressed concerns that Macau’s public higher education institution conforms to the agenda to “accelerate Macau’s absorption into mainland China.” They are also apprehensive that ... -
Outpatient consultations in 2021 increase 12.7% to nearly 2m
Hospital outpatient consultations increased by 12.7% year-on-year to 1,962,000, with those aged 15-24 up 23.6% to 139,000, according to data from the Health Bureau (SSM). Consultations ...
