Jockey Club’s investment plan
Legislator Ellen Lei Cheng I revealed that the Macau Jockey Club is to include investment such as improving facilities, smart stables, a horse theme park and a riding school. The information was disclosed after the Legislative Assembly (AL) for land and public grants concessions had a meeting with government representatives. The Macau Horse Racing Company Ltd. (MJC) investment plan is to take place in three phases, consisting of more than MOP1.5 billion (US$185.5 million) going towards revitalizing the local jockey club in light of a 24-and-a-half year concession contract being granted to the loss-making business.
‘Broken tooth’ sets up Hongmen HQ in Cambodia
Former 14K triad leader Wan Kuok-koi – also known as ‘Broken Tooth’ – has set up the headquarters of the World Hongmen History and Culture Association in Cambodia, according to Hong Kong media Eastweek. Mr. Wan, who is also the chairman of the aforementioned Association, said during an interview with Eastweek that the Association will make use of blockchain technology to build a Chinese cultural town in Cambodia.
Tax gaming revenue up in Jan-Apr
The Macau SAR Government has collected some MOP35.53 billion (US$4.39 billion) in gaming tax during the first four months of 2018, representing an increase of 18.8 per cent when compared to the same period last year. According to the Financial Services Bureau (DSF), the revenue of the administration during the period under review amounted to some MOP42.53 billion, a yearly increase of 17.8 per cent, with the execution rate reaching some 40.4 per cent. Public expenses reached MOP20.30 between January and April, an increase of 20.7 from the same period last year.
MGM Cotai Theatre to hold first public show on September 3
The CEO of MGM China, Grant Bowie, told Macau News Agency (MNA) that the MGM Cotai Theatre will hold its first public performance on September 3 with show production having already started. The Cotai property officially opened on February 13, but with its 2,000-seat theatre yet to be available for the general public. Mr. Bowie said that the high level of the theatre technology was one of the reasons for the delay in opening the theatre.
UnionPay POS devices removed from casino pawnshops in Cotai
UnionPay POS devices have been removed from pawnshops in casinos located in Cotai, according to two notes from brokerages Sanford C. Bernstein and Morgan Stanley. The removal, affecting properties of Galaxy, Melco, and Sands – neither Wynn Palace nor MGM Cotai housed such shops – was ordered by Macau authorities in conjunction with ICBC (Macau) and Bank of China (Macau), wrote Bernstein.
Loanshark crackdown
In one of the largest arrests made in a single case, 113 people who were part of a loan shark syndicate have been detained in an operation that took more than ten hours, according to a release by Judiciary Police (PJ). Group members, including the head of the group from Hong Kong, were residing in 21 houses. Some MOP2 million-worth (US$247,432) of cash and MOP100,000-worth of casino chips were seized in the arrest, as well as various items made of gold.
Gaming Revenues up in June
Gross gaming revenue amounted to MOP22.49 billion (US$2.78 billion) in June, up 12.5 per cent when compared to the same month last year at MOP19.99 billion. The amount recorded in last month represents a 11.8 per cent decrease from that recorded in May at MOP25.49 billion. Accumulated gross gaming revenue for the first half of the year has reached MOP150.22 billion, an increase of 18.9 per cent when compared to the same period last year at MOP126.38 billion.
