Prioritising structural investments
Macau | 13/11/2008
(Macau).- Around one quarter of Macau’s budget for 2009, estimated at us$ 5.58 billion, has been earmarked for investments and expenses for development of the territory, according to figures published in an official statement cited by MacauNews.
After resort projects halted
Macau | 12/11/2008
(Macau).- Macau struggling casino operator Las Vegas Sands Corp. will lay off as many as 11,000 workers after a cash crunch forced the company to halt construction on multibillion dollar projects in the Chinese gambling city, a top executive said this week.
The only hotel in Macau recognized with prestigious Mobil Five-Star ranking
Macau | 11/11/2008
(Macau / Hong Kong).- Wynn Macau announced that it has won two unprecedented Mobil Five-Star awards from Mobil Travel Guide in its highly anticipated inaugural Hong Kong & Macau edition, launched in Hong Kong on November 6.
The global climate has put Ho under severe pressure to offer tax breaks
Macau | 11/11/2008
(Macau).- Macau’;s chief executive Edmund Ho was expected to attempt to re-energize the gaming haven’;s stumbling economy in his annual policy address this week, as casinos struggle in the global slowdown.
Over 20 applications to set up offshore casinos had been received
India | 10/11/2008
(India).- A Mumbai-based company’s plan to set up what was billed as South Asian largest offshore casino, Maharaja, at Goa seems to be the first major casualty of the State Government’s decision to stop issuing new licenses.
All major OEMs are increasingly and adversely afflicted by the problem
Russian Federation | 10/11/2008
(Russia).- Two years ago the Novomatic Group of Companies started a unique campaign against international intellectual property piracy and has since persisted in its efforts to prosecute the power of these criminal activities.
Casino revenue took up 60% of the island's GDP in the past year
Macau | 06/11/2008
(Macau).- Macau’;s casino revenues in October amounted to us$ 1.14 billion, down 3.5% compared with the same period of last year, a year-on-year decline for the second consecutive months since September, the South China Morning Post reported, citing unofficial data.
The board of directors works with senior management during transition period
Hong Kong | 05/11/2008
(Hong Kong).- Amax Entertainment Holdings Limited announced that Ted Chan has resigned from his position as Chief Executive Officer effective November 13 to pursue a new career opportunity in Macau.
Only four designated gambling zones would be allowed
Russian Federation | 03/11/2008
(Russia).- Russian scheme to build a Las Vegas in 18 months is turning into a sour bet because of the sinking global economy. The plan calls for shutting down dozens of casinos in Moscow and St. Petersburg by July 1 and moving big-city gambling to four far-flung reaches of Russia, including building an entire new city along the Azov Sea.
In October gaming revenues dropped 3% compared to the same month in 2007
Macau | 03/11/2008
(Macau).- Secretary for Economy and Finance Francis Tam Pak Yuen, said he was confident that gross monthly gaming revenue could stay around us$ 892 million, a level that would enable the six operators to stay in the market.