O que vão fazer os vencedores I
mar24
More than a decade after the Italian fashion house Versace announced a deal to bring a Palazzo Versace hotel to the Cotai district of Macau, and more than two years after the opening of Grand Lisboa Palace, the gaming resort that hosts the hotel, there was an official ceremony on Saturday by resort promoter SJM Holdings Ltd to launch the hotel brand.
Among those attending was Donatella Versace (pictured left), sister of the Versace house’s late founder, Gianni Versace, as well as American singer John Legend and his wife Chrissy Teigen, along with a cohort of Asian singing and film stars.
Daisy Ho Chiu Fung (pictured right), managing director of SJM Resorts Ltd, the Macau operations unit of SJM Holdings, was cited as saying in a press release: “The Grand Lisboa Palace now stands out as home to the only couture-focused designer hotels in Macau, positioning our city as one of the few destinations worldwide offering such ultraluxe branded hospitality experiences.”
https://www.ggrasia.com/palazzo-versace-official-launch-a-decade-on-from-sjm-deal/
dez23 GEG
Macau casino operator Galaxy Entertainment Group Ltd aims to complete within next year “a large part” of a new hotel at the Galaxy Macau casino resort on Cotai, said Francis Lui Yiu Tung (pictured), the firm’s deputy chairman. He didn’t specify when the new facility – referred to as “Phase 3D” – might open.
The new hotel – which he said was part of the group’s 2024 investment programme – would be run by a “world renowned” brand, taking to 10 the total of hotel brands his company promotes in Macau, the executive stated. He suggested it would be “an innovative hotel product that has not existed in Macau before”.
He added: “We estimate that [the new hotel] will bring not more than 100 [room keys],” to the market. “We hope that with the positioning of this special hotel, we can reach out to high-end consumers,” he added.
https://www.ggrasia.com/galaxy-aims-2024-wrap-on-new-cotai-hotel-francis-lui/
Galaxy Entertainment Group (GEG) held a formal ceremony today to mark the completion of its Phase 3 expansion project, almost two years after it announced the end of construction in February 2022.
Phase 3 consists of three buildings – the 700-room Andaz hotel, the 450-suite Raffles hotel and the 40,000-square-metre Galaxy International Convention Centre (GICC). The two hotels were soft-opened in September and August respectively. The GICC meanwhile held its inaugural MICE event in April this year and served as the venue for concerts by K-pop bands BlackPink in May and Treasure in April. Work on the Phase 4 project is meanwhile underway and is slated to be completed by 2027. According to a statement from the gaming concessionaire, the 600,000-square metre expansion “will have a strong focus on non-gaming, primarily targeting MICE, entertainment [and] family facilities.”
Both Phase 3 and 4 are expected to play an important role in Galaxy Macau’s future development. Analysts Kenneth Fong and Saradoona Fong told gaming media that “We believe Phase 3 and 4 should underpin Galaxy’s long-term growth, when the cluster effect continues to build among Galaxy Macau properties.”
Overall, the two projects are estimated to have a total cost between HK$40 billion to HK$50 billion, according to the company’s management.
https://macaonews.org/business/galaxy-macau-andaz-raffles-gicc-phase-3-macao/
dez23
A recently-announced “Art Museum” will be a permanent feature on level two of casino resort MGM Macau, confirmed the property’s operator, MGM China Holdings Ltd, in response to an enquiry from GGRAsia. The launch date for the facility was not specified.
The area concerned is up the staircase (pictured) of the atrium area of MGM Macau known as the Grande Praça, at the western end of the property.
The company told GGRAsia: “The Art Museum is where the previous [MGM] Art Space was located, plus some expanded space on level two of MGM Macau.”
https://www.ggrasia.com/new-art-museum-at-mgm-macau-is-part-of-level-2-rejig/
nov23
he Chief Executive of Macau, Ho Iat Seng, told the Legislative Assembly on Wednesday that the non-gaming investment programs of Macau’s six concessionaires would not be effective immediately, and appealed to the community to give them time to do so.
During a question-and-answer session on the government’s 2024 Policy Address held at the Macau Legislative Assembly on Wednesday, Councilor Ron Lam asked about the status of the non-gaming investment plans of the concessionaires.
In response, Ho Iat said, “The revitalization of old districts and other non-gaming investment projects of the grantee companies need to be tried and tested.
“The investment programs will not be successful in a few months, the whole program will take up to 10 years.”
The Chief Executive added that each program would require constant adjustments and that many of the investments would be new endeavors.
“Neither the government nor the concessionaires has ever tried these projects before, and if no one has tried them before, we might as well give them a year or two to try them out … concerts, sea tours and so on,” he said.
“Why did [Korean girl group] BLACKPINK come to Macau? Why did the [Hong Kong group] Four Heavenly Kings come to Macau? It’s because concessionaires have to try, and they have to find out which way is more suitable for Macau.
“It’s impossible to make changes in one year, it’s not realistic, so we have to let the grantees try. Madame Curie had to try many times before she succeeded.”
Ho added, “There are not many companies in Macau that can co-ordinate a shopping center, but [the concessionaires] do, and they know what will attract people. As investors, they have to wait and see what happens, and they need time to keep an eye on the market.
“We are now letting them try boldly, because we won’t know the result until we try.”
https://www.asgam.com/index.php/2023/11/16/ho-iat-seng-macau-concessionaires-need-time-to-try-and-test-effectiveness-of-non-gaming-investments/
Nov23
The hosting of major sporting events and similar activities can become one of the main drivers of international visitors to Macau in the future, according to Wynn Macau Ltd President and Vice Chairman Linda Chen.
Chen spoke with local media on Monday following a press conference at which Wynn announced its support for the first ever International Series Macau golf event in March 2024, backed by LIV Golf.
With Wynn also preparing to host the inaugural Macau Snooker Masters at Wynn Palace in December, Chen said, “Sports+Tourism will make Macau a better tourist experience and attract more international travelers to the city.
https://www.asgam.com/index.php/2023/11/13/wynn-macau-president-linda-chen-says-major-sports-events-a-key-to-driving-international-visitation-to-macau/
000000000000000000000000SR JAN23
out23 MGM
MGM China has launched a new MGM “Macau Cruise” sightseeing cruise, offering daily departures connecting Barra Pier and Coloane Pier as part of its Barra Revitalization Plan.
With the idea of connecting the historical Macau towns of Barra and Coloane, MGM said its “Macau Cruise” is designed to enrich the city’s coastal tourism offerings while expanding the water transportation network.
https://www.asgam.com/index.php/2023/10/25/mgm-china-launches-mgm-macau-cruise-with-daily-sailings-between-barra-and-coloane/
out23 GALAXY
Uma pista de gelo simulado e uma horta urbana são projectos pensados pela Galaxy para a segunda fase do plano de revitalização dos Estaleiros Navais de Lai Chi Vun, que deverá estar concluída no terceiro trimestre de 2026. O espaço nos lotes X11 a X15 abriu ao público em Junho e tem registado cerca de 9.000 mil visitantes por mês. Ali têm decorrido várias actividades culturais, mas a Galaxy pretende introduzir novos elementos, alguns dos quais destinados ao lazer e à recriação entre pais e filhos, para além de áreas arborizadas
https://jtm.com.mo/local/galaxy-vai-criar-pista-de-gelo-horta-urbana-em-lai-chi-vun/
out23
Project highlights commitment to the district’s community and unique culture, providing support to SMEs and optimizing the street’s environment to attract more locals, visitors, and businesses, and boost the economy, Wynn Macau indicates
The pilot scheme to pedestrianise Rua da Felicidade has the potential to transform the district located at the heart of Macau’s city centre into a renowned “community landmark,” not only attracting more international visitors to Macau but also enhancing the business environment for local small and medium-sized enterprises (SMEs), said Linda Chen, President, Vice Chairman and Executive Director of gaming and integrated resorts operator Wynn Macau.
The “Rua da Felicidade Pedestrian Zone Project,” supported by Wynn Macau in collaboration with the Macau Government, officially commenced on September 29, offering a wide range of attractions and amenities designed to entice visitors.
https://www.macaubusiness.com/rua-da-felicidade-to-become-renewed-community-landmark-for-visitors-businesses-linda-chen/
out23
lmost 120,000 visitors have been entering Macao each day during the Mid-Autumn and National Day holidays, according to TDM, with total arrivals standing at more than 566,000 on Tuesday.
But not everyone is benefiting from the influx during the so-called Golden Week. While stores and eateries at traditional tourism hotspots like the Ruins of St. Paul’s were experiencing a surge in customers, more off-the-beaten-track destinations – such as northern Macao and older districts – don’t appear to be sharing in the spoils.
One merchant on Rua das Estalagens told TDM that while there was more foot traffic than usual, people weren’t spending money. “Many people got poorer during the pandemic, that’s realistic,” he acknowledged.
https://macaonews.org/business/macau-golden-week-holiday-tourism-macao-visitor-spending-retail/
out23 WYNN
The pilot pedestrian scheme for Rua da Felicidade, at the heart of the city centre and jointly promoted by gaming concessionaire Wynn Macau and the Macau government, kicked off on Friday (today), as the city prepares to welcome an influx of visitors during the Mid-Autumn Festival and National Day.
A launch ceremony for the pedestrian zone, which is open to foot traffic only from 11 am to 1 am every day, was held on Friday.
To enhance the street’s atmosphere, Wynn is “introducing large-scale art installations, a cultural and creative market, art and cultural events, interactive check-in games, and a night market experience,” the gaming and integrated resorts operator stated.
https://www.macaubusiness.com/wynn-macau-backed-pedestrianisation-of-rua-da-felicidade-launched/
out23 SANDS
The Macau government has announced that Sands China will be responsible for the revitalization the Iec Long Firecracker Factory and its surrounding areas, as well as the revitalization of Pátio da Eterna Felicidade, Rua Das Estalagens and its surrounding areas.
The entire project, part of the government’s efforts to revitalize old districts, is called “Iec Long Firecracker Factory and surrounding area optimal use plan, and the revitalization plan for Pátio da Eterna Felicidade, Rua Das Estalagens and surrounding areas”.
https://www.asgam.com/index.php/2023/10/01/sands-china-to-revitalize-iec-long-firecracker-factory-patio-da-eterna-felicidade-and-rua-das-estalagens-areas/
Sands China has announced its revitalization plan for the old Iec Long Firecracker Factory and its surrounding areas in Taipa, to boost cultural and tourism elements in the areas.
In a press conference, the gaming operator said the sites include the old Iec Long Firecracker Factory, the Patio da Eterna Felicidade, Rua das Estalagens and surrounding spaces.
The old Iec Long Firecracker Factory, built in 1925, is the only set of buildings from the firecracker industry in Macau that have remained well-preserved to the present day.
The Cultural Affairs Bureau completed the first phase of revitalization in 2022, building a walkway about 400 meters long and recovering and revitalizing some small buildings, which were opened to the public at the end of 2022.
https://macaudailytimes.com.mo/sands-china-to-revitalize-iec-long-firecracker-factory-and-surrounding-old-streets.html
set23 SJM
Macau casino operator SJM Holdings Ltd – via its subsidiary SJM Resorts S.A. – is to work to support the city government’s plan to “revitalise” an historic area in Macau’s downtown district, by introducing more tourism-related elements to the area.
The project includes upgrades to several historical buildings in Avenida Almeida Ribeiro, a thoroughfare also known as San Ma Lou, as well as its surrounding areas.
The revamp works are expected to take “around two years” and to be finished either in 2025 or 2026, said on Wednesday Daisy Ho Chiu Fung, chairman of SJM Holdings (pictured, left), during a press conference to present the project. She said there was not yet a budget for the revitalisation project, as the firm was still in discussions with the relevant government departments and planning was not yet completed.
https://www.ggrasia.com/sjm-to-suport-macau-govt-revitalise-san-ma-lou-area/
set23 MELCO
As Pontes-cais n.º 23 e 25 do Porto Interior são a próxima zona submetida a revitalização, onde serão acrescidos elementos culturais, artísticos, de lazer e comercial. O projecto será avançado em conjunto pelo Governo e a Melco Resorts (Macau) S.A., com vista a “introduzir uma nova atmosfera” nessa zona que testemunhou a prosperidade do Porto Interior no passado de Macau. Prevê-se que seja concluída a revitalização em meados de 2025. As entidades vão ainda realizar actividades na Fortaleza do Monte durante o Festival do Bolo Lunar.
https://pontofinal-macau.com/2023/09/22/governo-e-melco-vao-revitalizar-dois-cais-do-porto-interior-e-o-jardim-da-fortaleza-do-monte/
set23
The Macau government announced on Tuesday six areas to benefit from the revitalization of old districts, with each to be supported by one of the city’s six concessionaires. Secretary for Social Affairs and Culture, Ms Ao Ieong U, said at a press conference that the government has worked hand in hand with the concessionaires to develop the six old districts revitalization plans, hoping to create more iconic cultural attractions for Macau.
The six districts are Lai Chi Vun Shipyard, Rua da Felicidade, the A-Ma area, Inner Harbour Piers 23 and 25, Avenida do Almeida Ribeiro and Rua de Cinco de Outubro, as well as the Iec Long Firecracker Factory.
https://www.asgam.com/index.php/2023/09/12/macau-government-announces-six-old-districts-to-be-revitalized-by-concessionaires/
set23 MGM
Macau casino operator MGM China Holdings Ltd is to work to support the city government’s plan to “revitalise” an historic area in Macau’s Barra district, by introducing more services and commercial elements to the area.
That is according to a joint presentation (pictured) co-hosted on Tuesday by the Macau government and executives from MGM China. The area that MGM China is to assist the government to revitalise is the old D. Carlos I Dock area in Barra district, which spans 35,324 square metres (380,224 sq feet) in aggregate, according to Tuesday’s press briefing.
https://www.ggrasia.com/mgm-china-to-help-revitalise-macaus-barra-district-govt/
set23
Melco ready to invest more in Macau, will refresh hotels: Ho
ago23
MGM China would invest in the field of “Big Health” – specifically health management, medical care, Chinese medicine, and services related to cosmetology and spa – should the city’s gaming revenues reach the threshold to force a mandatory increase in non-gaming investments, according to the company’s Chairperson and Executive Director, Pansy Ho.
https://www.asgam.com/index.php/2023/08/31/pansy-ho-mgm-china-to-focus-on-big-health-should-macau-non-gaming-investment-requirement-increase/
MGM China Holdings Ltd is in a “financially sound” position, enabling it to meet any additional concession-related investment if Macau’s annual casino gross gaming revenue (GGR) reaches a MOP180-billion (US$22.3 billion) threshold for such extra commitment, said MGM China’s chairperson Pansy Ho Chiu King, in comments to several media outlets on Tuesday.
“All along, we have been planning the financing for it with our syndicate of banks. It should not be a problem,” stated the MGM China boss.
https://www.ggrasia.com/mgm-china-can-invest-more-if-asked-by-govt-pansy-ho/
MGM China’s two Macao resorts are set to add new meetings and exhibition spaces – with MGM Macau’s opening first, in the second half of 2024, the company announced on Tuesday.
According to multiple media reports, the company has plans for a 60,000-square-foot multi-purpose MICE venue on MGM Macau’s third floor, with an emphasis on what co-chair and executive director Pansy Ho described as “personalised spaces with smaller areas.”
She said the venue would be best-suited to “performances, fashion shows and other events.” MGM Macau aims to time the new venue’s opening with the 25th anniversary of Macao’s return to Chinese sovereignty, which falls on 20 December 2024.
https://macaonews.org/business/macau-macao-mgm-mice-meetings-exhibitions/
ago23
The Macau government is expecting that the city’s six gaming concessionaires will handle the “heavy lifting” of economic diversification efforts, veteran gaming executive Kevin Clayton told Asian Gaming Brief.
ago23
A referral mechanism established by the Macau government in July encouraging sports organizations or individuals to refer potential projects to the city’s concessionaires for follow-up has only attracted a handful of applications so far.
The Director of Macau’s Sports Bureau, Pun Weng Kun, pointed, revealed Tuesday that the number of applications was in single digits, although the concept is still less than two months old.
“The projects [that have been submitted] have been analyzed by the government and handed over to the concessionaires,” he said. “There are different types of plans and the concessionaires will consider the impact of these activities on Macau as a whole, as well as future sustainable development of the [ideas].
https://www.asgam.com/index.php/2023/08/22/applications-via-macau-referral-mechanism-for-potential-sports-and-cultural-projects-still-in-single-digits/
jul23
The Macau Government has postponed the launch of its adjusted economic diversification plan to September, with a source saying the delay is due to gaming operators’ proposals not meeting the authorities’ requirements. The plan, already delayed, was set to be released in June.
https://agbrief.com/intelligence/deep-dive/26/07/2023/macau-postpones-launching-economic-diversification-plan-as-gaming-operators-proposals-disappoint/
Macau’s inward-investment agency has set up a working group with representatives from the city’s six casino operators as well as five local trade associations covering the conference and exhibition business, with the aim of “attracting” and promoting “bidding” regarding “international and regional”-level events to be hosted in Macau. The information was given in a Tuesday press release from Macao Trade and Investment Promotion Institute (IPIM).
Macau’s six gaming operators are putting strong efforts into bringing prestigious concerts or shows to Macau, trying to rebrand Macau’s image from a gaming hub to a city of entertainment. The move, notes gaming scholar Davis Fong, is laudable, and will further increase the city’s attractiveness in 2H23.
A series of high-profile concerts held at some of Macau’s largest integrated resorts is playing a significant role in the city’s post-COVID recovery and helping “move the needle” in the mass market gaming sector, according to investment bank JP Morgan.
Macau’s top official, Ho Iat Seng, has announced that the government has received plans from six gaming operators for revitalizing Macau’s old districts in the city’s bid for diversification. According to the AGB checks, excepting the already known districts such as Barra (near A-Ma temple) and the Inner Port area, the Old Taipa Village and the northern part of the Macau Peninsula are also included.
Ab23
Macau adjusting diversification plan based on operator’s submissions, to reveal in June
By Viviana Chan
-April 14, 2023
Macau’s Chief Executive revealed that the government is working on “adjusting” its plan for diversifying the local economy according to the six gaming operators’ proposals submitted in the first quarter. The top official says the government’s updated plan will be made public in June of this year.
Ho Iat Seng participated on Friday for the first time in a plenary session of the Legislative Assembly since Macau lifted the pandemic restrictions. The top Macau official mentioned that the government has been accompanying gaming operators’ submission of their non-gaming investment plans, which are mandated under their new contracts.
Under their new 10-year concessions, which commenced January 1st, the gaming companies have pledged to spend in aggregate MOP108.7 billion ($13.5 billion) on non-gaming and exploring overseas tourist markets. As a condition of the new contracts, the gaming operators have to submit to the Macau authorities an annual execution plan, detailing specific projects they have mentioned respectively in their concession investment plan.
Ho said that the government received operators’ proposal on March 16th, pointing out that authorities have delayed publishing the city’s economic diversification plan, as the first plan from the government side was elaborated early last year during the COVID outbreak, and that the execution of the plan encountered some obstacles due to travel restrictions.
In response to questions from lawmakers, Ho underlined that the future path is to widen Macau’s tourism market with the help of neighboring Hengqin. He said that there will be more travel schemes for Macau that include Hengqin.
Of note is that the regulations for promoting the development of Hengqin were released on February 8th of this year. Experts from Macau and Hong Kong have previously stated that they believe the regulations will have a heavy impetus on the non-gaming industries of Macau.
Macau SAR’s policy address for the fiscal year of 2023 forecasts that the city will achieve economic diversification by building Macau into a world tourism and leisure center and continuously advance the development of major industries. These are supposedly focused on: big health, modern finance, high technologies, conventions and exhibitions, culture and sports. The ultimate goal is to see non-gaming industries contributing around 60 percent of Macau’s GDP and to build a sustainable industrial structure that fits Macau’s reality.
This reality is being reshaped, as authorities shift away from a gaming image, despite historically deriving 85 percent of their revenues from taxation on gaming activities.
https://agbrief.com/news/macau/14/04/2023/macau-to-update-economic-diversification-plan-by-june/?utm_source=Asia+Gaming+Brief&utm_campaign=289739a470-EMAIL_CAMPAIGN_5_19_2022_13_42_COPY_01&utm_medium=email&utm_term=0_51950b5d21-289739a470-69255637&ct=t(EMAIL_CAMPAIGN_5_19_2022_13_42_COPY_01)&goal=0_51950b5d21-289739a470-69255637&mc_cid=289739a470&mc_eid=31e20475e6
Fev23
WYNN
Casino operator Wynn Resorts Ltd plans to spend between US$50 million and US$220 million in capital expenditure (capex) in Macau during the current year. The investment is part of the minimum MOP17.7-billion (US$2.21-billion) spending that the group has pledged to pour into Macau over the next 10 years, as a condition of getting a fresh gaming concession.
The new concession period began on January 1 and runs to the end of 2032.
The information regarding capital expenditure for 2023 was shared by Julie Cameron-Doe, the firm’s chief financial officer, in comments made during a conference call with investment analysts following Wynn Resorts’ fourth-quarter results announcement.
https://www.ggrasia.com/wynn-to-spend-up-to-us220mln-in-2023-capex-in-macau/
DEZ22
SJM
Macau-based casino operator SJM Holdings Ltd is planning a major revamp to its Lisboa Hotel, on the Macau peninsula and one of the most iconic properties in Asia’s gaming industry. The project is expected to be concluded by 2027 at the earliest.
In addition, SJM Holdings is also planning to renovate its Grand Lisboa casino-hotel, located across the road from Hotel Lisboa (properties pictured in company presentation), in order for Grand Lisboa to feature more non-gaming amenities. That project is to be completed by 2024 and is to be in use the following year.
The aggregate expected investment for the two projects is MOP2.50 billion (US$312.0 million). The company did not provide much detail on either project or on the facilities they would include.
https://www.ggrasia.com/sjm-proposes-major-revamps-to-hotel-lisboa-grand-lisboa/
DEZ22
Wynn
Macau casino operator Wynn Macau Ltd says its non-gaming investments – as part of its new, 10-year concession in Macau – cover a “diverse range of offerings and initiatives”, aiming to attract visitors from overseas.
The group is set to spend MOP17.7 billion (US$2.21 billion) over the course of the decade-long concession, with MOP16.5 billion – or about 93.2 percent – set for expanding international markets and non-gaming investments.
The breakdown of the group’s investment was detailed on Saturday by Craig Jeffrey Fullalove (pictured, left), chief financial officer and chief administrative officer of Wynn Resorts (Macau) SA, the local concession-holding entity of Wynn Macau Ltd. With him was Linda Chen (pictured, right), vice chairman and an executive director of Wynn Macau Ltd, and also managing director of Wynn Resorts (Macau).
Macau’s six newly-reinstalled casino operators were outlining at a Saturday press briefing their respective ideas for their new 10-year concessions, due to start on January 1. The presentations followed the formal signing on Friday of their new contracts.
The Wynn group runs the Wynn Macau gaming resort on the city’s peninsula, and Wynn Palace, in the Cotai district. The ultimate parent is U.S.-based casino operator Wynn Resorts Ltd.
During the presentation session, Mr Fullalove said the organisation will develop a theatre for “a unique spectacle that Wynn will develop especially for Macau in support of world-class entertainment shows”.
The casino group also plans to launch a “themed, interactive and immersive centre,” offering what it termed “experiential entertainment through state-of-the-art technology for all ages”.
https://www.ggrasia.com/wynn-plans-macau-theatre-interactive-amusement-centre/
dez22
MELCO
The House of Dancing Water (pictured in a file photo), a hit Macau casino resort show that was suspended ultimately in June 2020 amid the Covid-19 pandemic, is to return to Macau in “late 2024”, says its backer, Macau casino operator Melco Resorts and Entertainment Ltd.
The move is part of the firm’s MOP11.8-billion (US$1.5-billion) spending commitment to the Macau government in return for a new 10-year casino concession, which was signed by Melco Resorts on Friday, along with the contracts of the other five successful bidders.
Of the total pledged by the firm, MOP10.0 billion is for non-gaming activities. From the latter figure, circa MOP4.2 billion is for entertainments, and circa MOP1.9 billion is for developing markets of overseas customers, a policy aim of the local government.
Melco Resorts’ chairman and chief executive, Lawrence Ho Yau Lung, also said – during a Saturday media briefing organised by the government for the six concessionaires to outline their plans – that the firm would creatre an indoor water park, a skate park, a clinic, and a cineplex.
As well as its flagship City of Dreams on Cotai, the group also runs the Altira Macau casino hotel in Taipa, and is majority owner of Studio City on Cotai.
https://www.ggrasia.com/dancing-water-back-2024-in-melco-non-gaming-reboot/
dez22
SANDS
Sands China Ltd plans to transform its 50,000 square-metre (538,196 sq-feet) garden next to its Londoner Macao property on Cotai, by adding a glass conservatory (pictured in an artist’s rendering) to create an “internationally unique garden-themed destination”.
Wilfred Wong Ying Wai, president of the firm, gave the information on Saturday as part of a series of presentations by the six newly-reinstalled Macau concessionaires, who signed new contracts on Friday with the city’s government.
Mr Wong said the idea was to create something iconic, akin to the tourism draw of Gardens by the Bay, a garden close to Marina Bay Sands, the Singapore casino resort of Sands China’s parent, Las Vegas Sands Corp.
Sands China’s management had in the past talked about the possibility of putting a shopping mall on the Cotai plot, but later decided to develop it as a French-themed garden dubbed “Le Jardin”. It overlooks the group’s Parisian Macao resort on the opposite side of the Cotai Strip.
https://www.ggrasia.com/sands-china-to-add-glass-conservatory-to-cotai-garden/
dez22
GALAXY
The commitment includes what the firm calls the city’s “first-and-only high-tech amusement park”.
The breakdown on the planned investment was given by Francis Lui Yiu Tung (pictured), managing director of concession holder Galaxy Casino SA, and also deputy chairman of the listed parent, Galaxy Entertainment Group Ltd. The firm had been awaiting improvement in market conditions before launching Phase 3 of its flagship Galaxy Macau resort in Cotai.
Mr Lui said his group had pledged to the government an overall investment of MOP28.4 billion, of which an estimated MOP27.5 billion – or 96.8 percent – will go to non-gaming and exploring foreign customer markets.
Macau’s six newly-reinstalled casino operators were outlining at a Saturday press briefing their respective ideas for their new 10-year concessions, due to start on January 1.
The presentations followed the formal signing on Friday of their new contracts.
As part of its efforts to explore overseas customer markets, Galaxy Entertainment said it would carry out new promotion plans targeting specific overseas markets. Such plans include “setting up overseas offices in Singapore, Thailand and South Korea and launching an array of marketing schemes, such as travel packages, in Japan, Indonesia, Malaysia, India, the Philippines and Vietnam,” stated the company.
“These projects will increase awareness of Macau and Galaxy Entertainment’s appeal and attract a broader base of visitors” to Macau, the firm added.
New offerings
Galaxy Entertainment said it plans to collaborate with “acclaimed international brands” to create a Macau “first-and-only high-tech amusement park, targeting families and leisure visitors”.
“Occupying approximately 61,000 square metres [656,598 sq. feet], the project will incorporate multimedia, interactive, and multi-sensory technologies to provide games and rides,” the company added.
https://www.ggrasia.com/galaxy-us3-5bln-macau-pledge-includes-amusement-park/
dez22
MGM
The MGM China executive said additionally that the company would bring more international-standard entertainment shows to Macau, and develop more art-related projects.
The MGM China group said it would launch an “incubator base for arts and culture business industries”, as well as what it termed a “culture + business + industry” framework for pursuing initiatives.
In a follow-up press release, the company said it would determine its “cultural business theme on a yearly basis,” in order to guide the group’s “curatorial planning, creation, annual exhibitions, symposiums and business activities”.
The firm said it would establish next year a partnership with Chinese abstract artist, Hsiao Chin, under the theme of space exploration.
In 2024, it will showcase Miao embroidery, one of China’s national intangible cultural heritage items. Also in 2024, the company is planning to invite Cai Guoqiang, the internationally acclaimed contemporary artist, “for the creation of a large-scale commissioned project”.
MGM stated it would revamp the MGM Theater at its MGM Cotai resort, to “embrace a technical expansion and upgrade for the launch of MGM2049,” described as the group’s “flagship entertainment residency with innovative technologies”. The MGM2049 residency show is planned to make its debut to the public in 2024, it added.
https://www.ggrasia.com/macau-able-to-attract-40mln-tourists-annually-mgm/
dez22
Macau’s six freshly-reinstalled gaming concessionaires have pledged to the city’s government they will invest MOP118.8 billion (US$14.8 billion) between them over the course of their new 10-year permits.
The news was announced to coincide with the signing (pictured) today (Friday, December 16) of the new concession contracts for MGM Grand Paradise SA; Galaxy Casino, SA; Venetian Macau SA; Melco Resorts (Macau) SA; Wynn Resorts (Macau) SA; and SJM Resorts SA, locally-registered entities representing respectively the six operating brands.
They have agreed to commit 10 times as much to “exploring overseas customer markets and developing non-gaming projects”, i.e., MOP108.7 billion, compared to gaming investment, where the aggregate will be MOP10.1 billion over the decade of the new concessions, which begin on January 1 next year.
The non-gaming investment will cover 10 fields, including entertainment and performances, sports events, convention and exhibition business, culture and art, healthcare, and “themed amusement
https://www.ggrasia.com/macau-op-non-gaming-spend-pledge-10-times-that-for-gaming/
dez22
What do you do if you have spent hundreds of millions of dollars and two decades building your business in Macau, which, before Covid, had been one of the most successful casinos in the world? Do you walk away from your billion-dollar integrated resort?
No. You stick with it, even when the government orders you to close the casino and have literally no income for months because a total of six people died of Covid in the entire city.
Macau’s casinos won US$37.6 billion in gaming revenue in 2018. And now the government has ordered the casino companies to replace that with MICE, culture, modern finance and Chinese medicine.
That would be a lot of money spent on Chinese medicine.
https://www.gamblingandthelaw.com/trapped-in-macau/
dez22
Hong Kong-listed Sands China Ltd says it will inject MOP4.80 billion (US$596.4 million) into its Macau-based unit Venetian Macau Ltd. That is in order to comply with Macau’s revised gaming law and the share capital threshold set for the new generation of Macau gaming concessions, said the firm in a Wednesday filing.
After such capital injection, the company will still hold all Class A shares in Venetian Macau Ltd, representing 85 percent of the voting rights and 100 percent of the economic rights in the firm.
https://www.ggrasia.com/sands-china-rejigs-share-capital-structure-of-macau-unit/
nov22
The four legislators affiliated with city’s influential Macau Federation of Trade Unions (FTU) have urged the government must specify the terms and conditions in the gaming concession contracts, in order to protect local employment.
Lei Cheng I, Leong Sun Iok, Lam Lon Wai and Lei Chan U told Chinese language newspaper Macao Daily News call for requiring the concessionaires to prioritise hiring locals for different job positions and ensuring upward mobility for local employees, as well as protecting workers’ rights, in accordance with the law as well as improving the employees’ provident fund scheme.
https://www.macaubusiness.com/ftu-affiliated-legislators-urge-govt-to-ensure-local-employment-in-new-concession-contracts/
nov22
The decision by the Macau government to grant fresh 10-year licences to each of the city’s six incumbent casino operators has been welcome by top management at those firms.
https://www.ggrasia.com/macau-existing-ops-welcome-new-licences-contracts-next/
nov22
WYNN (Wynn Macau becomes the first to announce its restructuring to pave the way for its new gaming license, injecting $621 million into its Macau subsidiary.)
Hong Kong-listed Wynn Macau Ltd says it will inject nearly MOP4.80 billion (US$596.4 million) into Wynn Resorts (Macau) SA. That is in order to comply with Macau’s revised gaming law and the threshold set for the new generation of Macau gaming concessions, said the firm in a Sunday filing.
Wynn Resorts (Macau) is the Macau-registered subsidiary that currently holds a Macau gaming licence. The local unit has also been awarded a new, 10-year concession, as part of the city’s public tender to award new casino rights.
The Wynn group runs the Wynn Macau gaming resort on the city’s peninsula, and Wynn Palace (pictured), in the Cotai district. The ultimate parent is U.S.-based casino operator Wynn Resorts Ltd.
According to Macau’s gaming law amendment, the minimum share capital requirement for any local casino concessionaire was increased to MOP5.0 billion, from the previous MOP200-million threshold. Other casino firms in the Macau market, such as SJM Holdings Ltd and MGM China Holdings Ltd, had already announced similar exercises, aimed at fulfilling the concession regulations.
In Sunday’s filing, Wynn Macau Ltd said “in order to enter into a new gaming concession contract” with the Macau government, Wynn Resorts (Macau) “will conduct a capital restructuring” so that the latter’s registered capital is increased from MOP200.1 million to MOP5.0 billion.
As part of the restructuring of the local unit, Linda Chen’s voting rights through her Class A nominative shares will be increased to 15 percent, from the current 10 percent. Ms Chen is vice chairman and an executive director of Wynn Macau Ltd; she is also managing director of Wynn Resorts (Macau).
Macau’s amended gaming law requires that at least “15 percent” of the gaming concession entity’s share capital has to be held by a “managing director” who is a Macau permanent resident.
Wynn Macau Ltd said it would “also pay for the share capital of the new Class A nominative shares to be subscribed by Ms Linda Chen”. But the firm added that Ms Chen “does not benefit directly or indirectly” from the exercise, “as her shareholding in Wynn Resorts (Macau) is solely to satisfy the requirements of the Macau gaming law”, in order for the company to “maintain its principal business operations”.
Ms Chen will take over as Wynn Macau Ltd president – in addition to her current role of vice chairman – with effect from March 1, 2023, according to information disclosed previously by the company.~
https://www.ggrasia.com/wynn-macau-ltd-to-inject-us596mln-into-macau-unit/
Nov22
Após o anúncio da lista provisória para as novas concessões de licença de jogo, as seis operadoras aplaudiram a decisão do Governo na adjudicação. As concessionárias, ao continuarem a explorar a indústria na próxima década, afirmaram estar com confiança nas perspectivas de Macau como destino mundial de turismo e lazer.
As seis actuais operadoras de jogo do território congratularam as novas concessões de licença de jogo. Além de se mostrarem honradas com o resultado anunciado no sábado, as seis concessionárias garantem que estão altamente confiantes e estimuladas no futuro de Macau, nomeadamente no seu desenvolvimento económico durante os próximos dez anos.
A MGM, primeira na classificação da lista de concessão provisória, expressou gratidão por poder contribuir para o desenvolvimento da indústria de lazer e turismo integrado. Num comunicado enviado à imprensa, a operadora disse “acreditar firmemente na plena recuperação e crescimento contínuo” de Macau.
Assim, a MGM Grand Paradise afirma que vai continuar a trabalhar com todos os sectores da sociedade para “um novo capítulo no desenvolvimento do turismo, lazer e entretenimento”, expandindo os mercados turísticos de países estrangeiros.
A Galaxy salientou igualmente que persiste na promoção da diversificação adequada da economia, conforme a política das autoridades, com a melhoria dos elementos não-jogo. LuiChe Woo, presidente do grupo, assume que a Galaxy se vai dedicar em “explorar mais possibilidades sobre o posicionamento de Macau como centro internacional de turismo e lazer” e insiste no cumprimento da responsabilidade social.
Já Robert G. Goldstein, o chefe executivo da Sands China entalece que “é uma honra continuar a parceria que se iniciou com o Governo e a população de Macau há 20 anos” e destacou que o futuro de Macau como destino de turismo internacional é “brilhante”. No mesmo comunicado, Wilfred Wong, presidente da Sands China, avançou que a sua proposta para o concurso de licença inclui uma “um inédito de investimento na área de não-jogo”, como uma série de programas de apoio às pequenas e médias empresas e talentos locais.
A Melco Resorts anunciou o sucesso da nova atribuição da concessão provisória eLawrence Ho, líder da Melco, deixou um agradecimento ao Governo de Macau por ter liderado um “processo suave e transparente”, e afirmou que a empresa está “comprometida com o desenvolvimento de Macau como o destino turístico de excelência da Ásia”.
Quanto a Linda Chen, directora-executiva da Wynn Macau, agradeceu a oportunidadeconcedida pelo Executivo, bem como a dedicação dos funcionários. A responsável adiantou que está cheia de confiança e que se vai empenhar na integração nacional de Macau e diversificação da indústria.
A SJM Resorts, por sua vez, assegurou que continuará a trabalhar em estreitacolaboração com o Governo e com a comissão para o concurso público de concessões de jogoe, ao mesmo tempo, reiterou que está optimista nas perspectivas de crescimento de Macau a longo prazo, esperanto “contribuir para o desenvolvimento sustentável da economia local na próxima década”.
https://pontofinal-macau.com/2022/11/28/operadoras-de-jogo-aplaudem-resultados-do-concurso-de-jogo/
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