Each November during the Macau Grand Prix, Macau wakes up with a jolt as more than 200 racing drivers and riders, as well as thousands of motor sports fans, descend on the territory for the world’s only international street circuit race meeting which features both car and motorcycle races.
The 61st running of the legendary event, the Macau Grand Prix 2014 will be held with a total of three days of extraordinary racing from November 13th to 16th.
Macau Grand Prix Straight
The program is unprecedented in its depth of talent, diversity, and prestige, with an impressive combination of exciting young talent, established stars and the world’s most famous names in automotive excellence.
Casino operator MGM Resorts International made a net loss of US$20.2 million (MOP161.36 million) in the third quarter of this year, mainly because gaming revenue in the United States declined, Bloomberg reports.
The company made a quarterly loss of US$22.3 million a year earlier.
MGM Resorts is the parent company of Macau casino operator MGM China Holdings Ltd.
Bloomberg quotes MGM Resorts as saying its third-quarter revenue grew by under 1 percent to US$2.49 billion.
Casino revenue in the United States fell by 4 percent and VIP table gaming revenue in Macau fell by 19 percent. Mass-market gaming revenue in Macau rose by 34 percent
Secretary for the Economy and Finance Francis Tam Pak Yuen says it is possible for casino operator Macau Legend Development Ltd to have up to 500 gaming tables without any change in government policy.
Macau Legend is hoping for permission for 350 more tables than the 150 it now has.
Mr Tam told a Legislative Assembly sub-committee that the policy was still to restrict growth in the number of tables in Macau to a compound annual rate of 3 percent.
But he added: “We did not set a fixed amount of gaming tables a project can get.”
In other words, the limit is on the growth in the total number of tables, not on the growth in the number of tables an individual casino operator has.
The number of visitors to Macau that came on package tours rose to nearly 1.03 million last month, 9 percent more than a year earlier, official data show.
The Statistics and Census Service says the number of package tourists from the mainland rose by 11 percent to 840,000. More package tourists came from Taiwan, but fewer came from South Korea and Hong Kong.
Macau had 852,000 hotel guests last month, 1 percent fewer than a year earlier. The average hotel guest stayed 1.4 nights, 0.1 night more than a year earlier.
The average occupancy rate of hotels and guesthouses fell by 2 percentage points to 85 percent.
Electronic cigarettes may be smoked anywhere in casinos, Business Daily reports.
Since October 6 the government has permitted the smoking of conventional cigarettes in casinos only in smoking rooms without gaming facilities or in VIP gaming rooms.
Business Daily quotes a spokesperson for the Health Bureau as saying: “According to the present law, the use of electronic cigarettes is not banned.”
But the newspaper quotes Hing Cheong Hong Tobacco Co Ltd sales manager Sunny Iao as saying: “We cannot find any place in Macau where it’s possible to buy these cigarettes.”
The fiscal reserve had grown to MOP244.57 billion (US$30.62 billion) by the end of September, the Monetary Authority of Macau says.
The total includes an investment profit of MOP2.91 billion accumulated since January 1. The managers of the reserve began investing it in equities in the first half of this year.
The Monetary Authority says money from the fiscal surplus continued to expand the fiscal reserve.
The Ministry of Commerce says it approved last month US$40 million (MOP319.5 million) worth of new investments in the mainland by Macau investors, the same as a year earlier.
The ministry says it approved 41 such investments.
It says the value of merchandise trade between the mainland and Macau was US$340 million last month, 6.25 percent more than a year earlier, as the city imported more goods from over the border.
At last, the green light. Hotel-casino operator Macau Legend Development says regulators have approved the addition of 35 gaming tables. These will be installed in Fisherman's Wharf.
Hotel and casino operator Macau Legend Development Ltd told the Hong Kong Stock Exchange after trading hours on Tuesday that the casino regulator here has already confirmed that 35 additional gaming t
More competition round the corner. The Zhuhai International Convention & Exhibition Centre starts its trial operation today. Macau MICE industry representatives say they are up for the challenge. But some convention business will inevitably be diverted.
The Zhuhai International Convention & Exhibition Centre (Zhuhai CEC) – with an initial investment of 7 billion yuan – starts its trial run today.
The Health Bureau has accused Melco Crown Entertainment of breaking the law by permitting smoking in some areas of its mass gaming floors, while the gaming operator said all their smoking areas had been approved since 2012 by a dispatch of the Chief Executive and comply with the most recent regulations
Melco Crown Entertainment (MCE) is breaking the law by turning some non-smoking areas in mass gaming floors into smoking areas, said the Health Bureau in a statement issued late last night.