Section: Economy

Las Vegas Sands 2-Q profit up 27%

Comment - As mentioned before Las Vegas Sands has had a head start on Wynn Resorts, which so far has outlayed cash but as yet has to see a return on its Wynn Macau Resort due to open on September 6. It just shows that Macau is the place to be, whilst Las Vegas dropped

In Q3 Macau Casino Revenue Down 10%

Macau's casino revenue in the third quarter amounted to US$3.2 billion, down 10.03% compared with the same period of last year, a decline for the second consecutive quarter since 2005, according to data released by Macau Gaming Inspection and Coordination Bureau last week.Revenue rose 27.76% in the Jul.-Sep. period, but that was a significantly slower

Macau Q1 2008 Gross Domestic Product Expands by 31.6%

In the first quarter of 2008, performance of the gaming sector continued to stay vibrant, with gross gaming revenue (excluding gratuities) soaring substantially by 61.8% in nominal terms compared with the same quarter of 2007, while total visitor spending (excluding gaming expenses) rose slightly by 4.3%; gross fixed capital formation dropped by 17.6% upon successive

Macau On Target For 30 Million Visitors in 2008

Macau received 7.5 million visitors in the first quarter of 2008, which was a rise of 17.9 percent against the same period of 2007. The number of visitors from mainland China was 4.38 million, which was a rise of 22.6 percent, while the number of visitors from Hong Kong and Southeast Asia rose 3.3 and 63.3

Macao Pataca to Remain Pegged to Hong Kong Dollar

The peg of the pataca to the Hong Kong dollar is an established policy of the Government and will not be changed for a long time, the Chief Executive, Mr Edmund Ho Hau Wah, said when he attended a plenary session of the Legislative Assembly this afternoon. Mr Ho, who was answering legislators’ questions, said he

Macau May 1 Rally May Well Be Called Off

More than one rally which were originally planned to be staged on May 1 demanding measures to tackle illegal workers as well as soaring living costs could be called off after the Chief Executive announced the two-billion pataca subsidy for Macau residents on Tuesday, reports Macau Daily Times. According to lawmaker and chief member of the

Moody's Says Macau Economy Is Solid

Macau’s financial health is solid although there are some risks that make the territory vulnerable to external shocks, according to US ratings agency Moody's Investors Service. "Macau's solid fiscal position has produced considerable public sector surpluses over the past five years and because it does not have any public debt that needs to be repaid, its

Macau 2007 Growth Domestic Product Up By 27.3%

The world economy remained strong in the first three quarters of 2007, but the momentum tended to slowdown in the fourth quarter; however, the economy of Macau was not much affected due to the support from Mainland China. Driven by the rapid development of the gaming and tourism sector, investment surged substantially and local consumption

To Combat Inflation Macau Government Will Spend US$101 million

The Macau government announced that it is making available US$ 101 million for a string of financial support measures to alleviate the impact of inflation among the territory’s most needy citizens. Inflation in Macau hit 8.3 percent in January, the highest level recorded since 1999. The government measures, coming into force in April, include subsidies for electricity

Macau Casino 2008 Revenues Projected to Hit Record US$12.5 Billion

Macau’s gaming revenue for this year is expected to see a double-digit increase, the total of which will reach US$12.5 billion, said Lau Pun Lap, member of the Legislative Assembly. He estimated that this year’s gaming revenue growth will be lower than last year, but as industry development keeps its momentum, a double-digit increase can be