Seven Sin Fong Garden building residents were convicted of aggravated disobedience… The TJB ruling indicated that the rights of assembly and demonstration of citizens are granted by the law. However, this freedom of assembly and expression is not unlimited, and the citizens’ use of these rights was far from being in a legitimate and proper way. The judge highlighted that all meetings and demonstrations that violate the fundamental rights of others in an excessive way are illegal.
Monthly Archives: September 2015
Macau had 252,213 visitors over the Mid-autumn Festival on September 27 and 28, or 14.6 per cent more than in the equivalent period last year, the police say. Police records show 426,421 people entered the city and 404,466 left over the two days.
Public Security Police (PSP) predicted a five percent year-on-year increase in the number of locals and visitors passing through Macau’s border checkpoints during the National Day “Golden Week” which starts tomorrow, PSP spokesman Lei Tak Fai said… nearly three million border crossings were recorded during the same period last year.
Macao Trade and Investment Promotion Institute (IPIM) will co-ordinate all tasks related to the promotion of local Meetings, Incentives, Conferencing, and Exhibitions of the MICE industry starting from November this year. The task used to fall under the auspices of Macau Economic Services (DSE).
Nasdaq-listed casino supplier International Game Technology Plc has been selected to provide gaming systems technology to casino resort Wynn Palacee, a property under construction in Macau’s Cotai district.
A Wynn Macau Ltd subsidiary – Wynn Resorts (Macau) SA – has increased the size of the group’s available senior secured bank facility by nearly 20 percent. It raises the facility to US$3.05 billion or equivalent, an increase of US$550 million or equivalent, according to a company filing to the Hong Kong Stock Exchange before market opening on Wednesday. Under the terms of the agreement with senior lenders, Wynn Macau has the option of asking that a further US$1 billion be made available, said the filing.
After a spate of bad news for Macau that has included UnionPay’s annual cap on cash withdrawal and Neptune’s reported half year losses, Morgan Stanley says it retains a cautious view on the gaming industry but that the news is not as bad as it seems. It was recently reported that UnionPay would limit Chinese debit card users to withdraw cash up to RMB100,000 ($15,700 per card annually overseas from January 1, 2016.
The Macau gaming industry still has to endure two difficult years and will register Asia’s highest decline in terms of Gross Gaming Revenue (GGR), on top of which the new rooms and properties will increase pressure on the returns of the gaming operators. This scenario was published yesterday by the Australian company Macquarie Securities in a report about the gaming sector in Asia.
Vietnam’s eight casinos, only open to foreigners, posted a combined revenue of VND1.379 trillion (US$61.3 million) last year… casinos paid VND339 billion in taxes last year. Vietnam now also has 64 lottery companies and two sports facilities allowing gambling. Lottery companies paid VND20 trillion in taxes after earning a total of VND64 trillion ($2.85 million) in 2014.
The Wall Street Journal (WSJ.com) has reported that the private owners of German focused sports betting operator Tipico Ltd are preparing to sell the company. The Malta operated online betting firm, whose key target markets are Germany and Austria is reported to have appointed JP Morgan and Rothschild as deal advisers… will seek a sale of price of around 1 to 1.5 billion euros (£800 to £1.1 billion).