MGM’s first-half adjusted EBITDA grew 11 percent
During the first half of this year, MGM China recorded a total revenue of HKD7.4 billion, an increase of 3 percent year-on-year. Adjusted EBITDA was HKD2.2 billion, an increase of 11 percent from last year. The gaming operator announced the selected unaudited financial data of the company and its subsidiaries yesterday. The proportion of wins at the main floor table games during the six-month period increased 7 percent year-on-year and slot wins increased by 4 percent. VIP table games win was down 5 percent. Hotel rooms at MGM Macau achieved an occupancy rate of 95.4 percent during the period, with revenue per available room of HKD2,004. “We are highly focused on the launch of MGM Cotai during the fourth quarter of this year. This HKD26 billion integrated resort will bring the future of entertainment to Macau today,” said Grant Bowie, chief executive officer and executive director of MGM China.
Unemployment rate remains stable
The Statistics and Census Services (DSEC) states that the general unemployment rate is at 2 percent and the underemployment rate is at 0.4 percent. Both remain stable compared to the previous period. Meanwhile, the unemployment rate of local residents is at 2.7 percent, up by 0.1 percent. The number of people unemployed is at 7,900, up by 300, with fresh labor entrants searching for their first job accounting for 10.8 percent of the total unemployed. Median monthly employment earnings remains stable at MOP15,000, with those employed in the gaming and junket industry, as well as construction industry on average earning MOP19,000 and MOP15,000 respectively.
Registration to elect NPC deputies concludes
Registration of candidates for electoral councils, which will elect deputies from Hong Kong and Macau to the 13th National People’s Congress (NPC), concluded in the SARs this week. According to a plan released by the NPC Standing Committee in April, 36 deputies from Hong Kong and 12 deputies from Macau will be elected. Registration offices opened in Hong Kong and Macau at the beginning of July to receive applications of aspiring members of the electoral councils. According to the General Office of the NPC Standing Committee, more than 1,900 people in Hong Kong and over 480 in Macau have registered. The election of the 13th NPC deputies from Hong Kong and Macau should be conducted by the NPC Standing Committee. Current deputies to the NPC, which is China’s top legislature, will end their term in March 2018, and the election of deputies to the 13th NPC will be completed in January 2018, according to the NPC Standing Committee.
Beer falling from building injured two
A box containing 24 beer bottles fell from a building and injured two passersby, according to a report by TDM. The accident took place yesterday at the Av. do Dr. Francisco Vieira Machado. The bottles fell from the ninth floor of an industrial building, and hit the front of car. Upon impact, the bottles shattered, resulting in glass fragments flying everywhere and injuring two people, both of whom recorded injuries to their feet. One of the injured parties was a five-year old boy. The accident is believed to have resulted from the carelessness of on-duty workers while transporting the beer.
Macau football team head coach resigns
Head coach of the Macau football team, Tam Iao San, recently resigned from his position. Tam said that his resignation was due to personal reasons, further saying that he needs more time to rest. Tam also said that he will support the team’s general direction and expressed his hope that the public will continue to support them too. Tam began his coaching career as head coach of the Macau football team in January 2015. Last year, he led the team to second place in the AFC Solidarity Cup. More recently, the local team has been routed by several opponents. The latest defeat took place on Sunday, when East Timor played Macau at a match of the 2018 Asian Football Confederation (AFC) U-23 Championship qualification, winning 7-1.
Cheoc Van Villa mall area proposed for welcoming hotel
The land plot in Cheoc Van Villa was suggested as a location for a new hotel, as revealed by the Urban Planning Committee. The committee’s original plan was to maintain commercial, catering and conventional facilities at the place. However, owners of the land delivered a proposal prior to the committee’s Wednesday meeting, suggesting that the plot be converted into a hotel. Most committee members agreed to the proposal, believing that the construction of a hotel would be an efficient use of space. The committee members also said that residents nearby did not voice any opposition to the idea.
