Macau

Galaxy Entertainment has followed MGM China and Las Vegas Sands in announcing pay increases for employees this year.

The consensus EBITDA forecasts for 2017 for Macau’s operators now look to be achievable for this year, after targets lacked harmony with gross gaming revenue growth throughout 2016, Deutsche Bank said in an analysis.

The government has demolished two shipyards in the historic Lai Chi Vun area in Coloane, despite opposition from the Cultural Affairs Bureau, local media reports.

MGM Cotai unveiled a new golden lion statue on Wednesday, and has announced its Chinese name, meaning “Beautiful Lion, Beautiful MGM.”

China’s economy is seeing renewed strength in premium activity, driving demand for luxury cars and VIP gaming in Macau, though longer term the outlook for the high roller segment is muted, according to research from Bernstein.

The total number of people working in Macau’s gaming sector fell by 0.8 percent at the end of the fourth quarter last year, with dealer numbers dropping by 2.4 percent, though wages were higher.

Macau’s Judiciary Police caught a man who was seeking to leave the territory following a scam in which he defrauded two Singaporean women by convincing them to invest $50,000 each in a VIP room, local media reports.

Macau may benefit from a March 3 decision by Beijing to restrict travel to South Korea, Sterne Agee said in a note.

Around 68.7 percent of respondents to a new survey by the Macau Gaming Enterprises Staff Association have expressed their desire to work in smoke free casinos.

Macau gross gaming revenue for the first week of March was in line with expectations, at MOP 3.2 billion with an ADR of MOP 630 million, said Bernstein in a note on Monday.

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