Macau’s motor car and motorbike imports fell 55.6 per cent year-on-year to 911 million patacas in the first nine months of the year. Mobile phone imports fell 44.9 per cent to 3.06 billion patacas. Watch imports dropped 31.9 per cent to 3.3 billion patacas. Gold jewelry imports decreased 31.4 per cent to 4.2 billion patacas.
Monthly Archives: October 2016
British writer and urban planner Charles Landry believes Macau has enough financial, intellectual and creative resources to truly become a international model for urban living, as he described during his “Macao: A Culture of Ambition and Creativity as Catalysts for a Sustainable City” seminar. “Macau is 40 times richer than any British cities; why can’t you be a model for the world?
The president of the Legislative Assembly announced the government and the law-making body have come to an agreement regarding several “controversial” bills, which will now be postponed until the next legislative term… The current term is set to expire in August 2017. Until then, lawmakers will focus on the remaining, less controversial bills, hoping to reach an agreement on them.
South Korean airline Jeju Air inaugurated a new route connecting Macau to Seoul’s Incheon airport… “According to the statistics, passengers of the Korean market from MIA posted a growth of 85 percent from January to September this year,” he said.
Macau casino operator Wynn Macau has announced it has entered into an agreement with Leighton Asia to settle litigation over the construction of Wynn Palace… As part of the settlement, Wynn Resorts and Palo Real Estate Company will “release and pay US$21.1 million to Leighton Asia as money due for work completed,” pay Leighton an additional $199.8 million, another $55.2 million “upon final completion of works”, and up to $45.0 million “as and when outstanding, defective or nonconforming work is completed to the satisfaction of the group”.
The Genting group will be “pushing for a more lifestyle product” with its new casino cruise line brand, Dream Cruises, said the group’s chairman Lim Kok Thay, in an interview with Singapore newspaper the Straits Times. The first of the new brand’s vessels – the Genting Dream is due to make its maiden voyage on November 13 from its home port of Guangzhou, in China’s Guangdong province. It will mark the beginning of a bet on China’s leisure market.
MGM Resorts International (could plow almost $10 billion into a Japanese casino via a publicly traded real estate investment trust, its chief executive said on Monday, as Tokyo inches closer to legalizing the industry. Casinos are currently banned in Japan, but the odds of their legalization have improved sharply thanks to political shifts that could open the world’s next great frontier for high-roller gambling.
Chow Tai Fook Enterprises Limited has entered into negotiations for the ownership of Baha Mar, said the company… “CTFE is looking forward to having Baha Mar join its portfolio of world-class integrated resort development projects,” said Dr. Henry Cheng, chairman of CTFE. “We are fully committed to this project and plan to hire as many Bahamians as possible to work at the property.”
Germany’s gaming sector is upheaval as sharper regulations threaten the very existence of many arcade businesses. Over the next year, many gaming halls and casinos in Germany will risk losing their licenses. There has long been legislative uncertainty in the gaming market, but in 2017 stricter rules are going to come into force, when the transitional period of a law enacted in 2012 finally expires.
Gambling operators in Britain will be subject to a new obligations aimed at preventing money laundering and terrorist financing under new licensing conditions due to come into effect on 31 October. The revised licensing conditions and codes of practice will require gambling operators to “conduct an assessment of the risks of their business being used for money laundering and terrorist financing” and then implement “appropriate policies, procedures and controls to prevent money laundering and terrorist financing.”