Author: Lynzy Valles, MDT
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Retailers anticipate further sales downturn as revenue slightly plunges in Q1
Local retailers are anticipating a year-on-year decrease in sales volume in the second quarter of 2022. According to a survey conducted by the Statistics and Census ... -
Macau Legend: No irregularity between Levo Chan and companies
An independent consultant of Macau Legend Development did not find any irregularity in the dealings between the company and Levo Chan or his related entities. According ... -
Beijing considering 7+7 quarantine policy; HK, Macau yet to announce
Beijing is reportedly considering implementing a 7+7 quarantine policy, which would allow overseas arrivals to stay at a designated medical observation facility for seven days, then ... -
Visitor numbers drop 24% y-o-y in April
Visitor arrivals rose by 15.2% month-on-month to 606,841 in April, yet the figure still represents a year-on-year drop of 23.7%, according to the Statistics and Census ... -
Beijing: DOJ accusation on Wynn only to hype up ‘China threat’ theory
The United States Department of Justice’s (DOJ) move to sue longtime Las Vegas casino mogul Steve Wynn to compel him to register as a foreign agent ... -
Visitor spending totaled MOP6.6b in Q1
The total expenditure by visitors (excluding gaming expenses) rose by 6.7% year-on-year to MOP6.59 billion in the first quarter of 2022, despite the consecutive downturn in ... -
Banking BNU profits drop 64% to MOP40m in Q1
Banco Nacional Ultramarino, S.A. (BNU) reported an unaudited profit after tax of MOP39.9 million, a decrease of MOP 69.5 million (-63.6%) as compared to the same ... -
Channel checks indicate visa denial of frequent gamblers: Bernstein
China’s National Immigration Administration has recently reconfirmed strict Covid-19 border policy and restrictions on non-essential travel, a move that could further hamper arrivals, particularly of bettors, ... -
Gov’t U-turn on satellite casinos to particularly benefit SJM
SJM Holdings Ltd. shares rose to as much as 9.7% yesterday following the government reversing its decision on the gaming law amendment that all casinos would ... -
AAEC dismayed with court’s denial of extension appeal following language hitch
The Court of First Instance (TJB) has denied the 30-day extension request filed by the Asian American Entertainment Corp Ltd (AAEC), following the court’s decision in favor ... -
Vilela says doubts remain on casino reversion in bill amendment
The UNLV Gaming Law Journal has this week published a study by a Macau-based gaming lawyer tackling the issue of casino reversion once concessions or sub-concessions ... -
Galaxy EBITDA down to HKD575m in Q1
Galaxy Entertainment Group’s (GEG) adjusted EBITDA in the first quarter was HKD575 million, down 33% year-on-year and down 45% from the previous quarter, according to an ... -
Wynn Macau losses USD98.3m in Q1 amid tourism drought
As Macau’s market continued to experience decreased visitor numbers during the first quarter, particularly in the second half of the quarter, Wynn Macau recorded a loss ... -
Population decrease still attributable to decline in non-resident workers
The total population as at end-March 2022 decreased by 1,500 quarter-to-quarter to 681,700, mainly attributable to a drop in the number of non-resident workers living in ... -
Labor disputes go on, but little to no wins for migrants
Labor disputes reported by non-resident workers have recorded a slight increase in the first quarter of this year compared to last year, despite the decreasing number ... -
Classes suspended ahead of expected heavy rain
The Education and Youth Affairs Bureau (DSEDJ) has announced the suspension of classes at all stages of non-tertiary education tomorrow, with higher education institutions advised to ... -
Consulate hits record-high voter turnout at about 70%
Voter turnout for the Philippine election in Macau SAR stood at 67% as of yesterday morning, according to a statement provided by the Philippine Consulate General. ... -
SJM suffering cash bleed, reports Q1 losses of HKD1.3b
SJM is suffering a continual cash bleed with brokerage firm Sanford C. Bernstein warning that the gaming operator is in “critical” need of boosting its financial ... -
Arrivals on last day of holidays fall to 19,000
Macau’s tourism arrivals have continued to decline on the last day of the May Golden Week holidays, recording a total of only 19,188 visitors as of ... -
Domestic violence doubles to 81 cases in 2021
Macau has recorded 81 cases of suspected domestic violence in 2021, an increase of over 100% compared to data from 2020, when 38 cases were recorded. ... -
MGM revenue slumps in Q1 amid lockdowns in China
MGM China continues to face headwinds in the short term, with public health policies impacting customers’ ability to enter Macau, according to MGM Resorts’ CEO and ... -
Gaming revenue slumps in April, lowest in 18 months
The Macau SAR’s gross gaming revenue dropped steeply to MOP2.68 billion in April, the lowest figure recorded since September 2020 as the city continues to endure ... -
Sands China loss widens, LVS bets on Singapore’s open borders
Sands China has reported a downturn in revenue, with a USD336 million net loss recorded in the first quarter for this year, a greater fall than ... -
Secretary Lei urges business leaders to launch promo in May Golden Week
Secretary for Economy and Finance Lei Wai Nong has called on business leaders to lead the sector in preparing for the May 1 Golden Week in ... -
85% of former workers in junket sector still unemployed
About 85% of employees dismissed from junket operators, due to the turmoil engulfing the sector, are still unemployed, with most being unable to make ends meet. ... -
Macau IC2 commemorates Earth Day with activities focused on sustainable practices
The Macau IC2 (I Can Too) Association has again partnered with Artyzen Grand Lapa Macau to celebrate World Earth Day for the second consecutive year – ... -
More regulations needed to tackle city’s food waste: Association
As part of this year’s celebration of World Earth Day, the city’s only non-profit organization comprised of people with disabilities is hosting a series of events ... -
F&B sector revenues drop 5% y-o-y
Revenues of restaurants and related establishments interviewed dropped 5.3% year-on-year in February 2022, with Western restaurants, Chinese restaurants and Japanese & Korean restaurants recording respective falls ... -
Survey: SMEs continue to face gloomy business prospects
Small and medium enterprises (SMEs) are facing a gloomy outlook, with nearly 10% of the interviewed local firms set to close their business, according to a ... -
Suicide cases in Q1 jumps 300% y-o-y, association calls for ‘stepped care’ model
Macau has recorded an alarming number of suicide cases in the first quarter of this year, which could be interpreted as hitting a crisis level. The ... -
Liaison Office: Macau has effective measures to ensure safeguarding national security
Director of the Liaison Office of the Central People’s Government in the SAR, Fu Ziying, has said that Macau has seen progress and effective measures put ... -
Gov’t to distribute MOP8,000 in next consumption cards
The third round of the electronic consumer cards (e-vouchers) will be distributed in May and will hold a total value of around MOP8,000, according to the ... -
More domestic workers choosing to leave employers after over two years of ‘lockdown’
A number of domestic workers have opted to go back home for good with many deciding that not seeing their families for over two years is a ... -
IMF: Recovery to continue with 15% growth in 2022
The Macau SAR’s economic recovery is expected to continue, but it will take time before the economy fully regains its losses from the pandemic, according to ... -
Students with hearing disability drop out of university due to compulsory mask-wearing
Students with a hearing disability have opted to drop out of higher education due to the mandatory use of masks, according to the Macau Deaf Association. ...
