Monthly Archives: September 2017

Tempting tourists back

Date

September 1, 2017

Author

Nelson Moura

Source

Macau Business Daily

Region


Subject

Macau

URL

http://macaubusinessdaily.com/Macau/Tempting-tourists-back

Tourists are expected to return tomorrow. Following an uncomfortable hiatus caused by Typhoon Hato. The MSAR will be ready and able to receive package tours after September 2, the President of the Macau Travel Industry Council, Andy Wu Keng Kuong, has assured Business Daily.

Galaxy forward paying part of staff discretionary bonus

Date

September 1, 2017

Author

none

Source

GGRAsia

Region


Subject

Macau

URL

http://www.ggrasia.com/galaxy-forward-paying-part-of-staff-discretionary-bonus/

Macau casino operator Galaxy Entertainment Group Ltd is forward-paying part of what it terms its “annual discretionary bonus” for staff. Eligible employees will receive the first portion of the bonus with their September salary. Such type of bonus had previously been paid in whole immediately prior to Chinese New Year, which annually falls in either January or February.

Macau Legend loss widens in first half of year

Date

September 1, 2017

Author

none

Source

Asia Gaming Brief

Region


Subject

Macau

URL

http://agbrief.com/news/macau-legend-loss-widens-first-half-year

Macau Legend Development saw its loss widen in the six months ended June 30, 2017, due mainly due to an increase in operating and finance costs, and depreciation following the opening of Legend Palace Casino and Hotel. Loss for the six month period reached HK$228.6 million (US$29.2 million… reported strong growth in revenue in the half year, reaching HK$855.9 million, representing an increase of 28.5 percent year-on-year.

China Star posts 225 pct increase in loss in H1

Date

September 1, 2017

Author

Kelsey Wilhelm

Source

Macau Business Daily

Region


Subject

Macau

URL

http://macaubusinessdaily.com/Business/China-Star-posts-225-pct-increase-loss-H1

The current operator of Lan Kwai Fong Hotel, China Star Entertainment, Limited, saw a 225 per cent yearly increase in its loss during the first half of the year, the loss amounted to HK$127.14 million (US$16.25 million). During the period, HK334.27 million was generated by the group’s hotel and gaming service operations.

Communist Party Congress: what happens after Beijing gathering

Date

September 1, 2017

Author

none

Source

Macau Daily Times

Region


Subject

China

URL

http://macaudailytimes.com.mo/communist-party-congress-markets-find-happens-beijing-gathering.html

For most of the year, there’s been an oft-repeated refrain among China-watchers. Whispered in private meetings with clients or loudly spoken by confident brokers, it goes something like this: “Don’t worry about the economy or markets in 2017 – Beijing won’t let anything bad happen ahead of the Communist Party Congress.” Much less clear is what happens after the gathering, a once-in-five years conclave now scheduled to convene on Oct. 18 in Beijing.

Junket King Plans Billion-Dollar Moves into Japan, Vietnam

Date

September 1, 2017

Author

Daniela Wei

Source

Bloomberg

Region


Subject

Japan

URL

https://www.cdcgamingreports.com/macau-junket-king-plans-billion-dollar-moves-into-japan-vietnam/

Macau’s biggest junket operator wants to be more than a middleman lender for Chinese high rollers, so it’s spending billions of dollars to transform itself into an overseas casino operator. Suncity Group, which operates VIP rooms where monthly bets recently surpassed HK$130 billion ($17 billion), is looking for partners in Japan after investing in a Vietnam resort scheduled to open in 2019.