Gaming operator Sands China said in a statement yesterday that it will donate 65 million patacas to assist with long-term relief, recovery and rebuilding efforts in Macau in the aftermath of Typhoon Hato.
Monthly Archives: September 2017
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.
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 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.
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.
Gross gaming revenue from the MSAR’s mass tables grew 14.8 per cent year-on-year in the second quarter… VIP gross gaming revenue during the quarter pointed to a 30.8 per cent increase and a 15.8 per cent increase in slots.
Meteorological and Geophysical Bureau (SMG) Acting Director Leong Ka Cheng said on Thursday it was “likely” that the No. 3 signal will be hoisted on Friday night or in the early hours of Sunday… there was only a “low probability” that the No. 8 signal will be hoisted on Sunday morning.
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.
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.
Imperial Pacific International (IPI) Holdings Limited is seeking to retrieve a deposit of US$10 million (MOP80.60 million) the company made with the Department of Public Lands (DPL) of the Marianas… the money was deposited in late 2016.