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Category Archives: Macau
Non-Chinese Mainland Travel Permit: A Step-By-Step Guide to Applying – Time Out
Posted: July 11, 2024 at 6:51 pm
Starting July 10, non-Chinese permanent residents of Hong Kong and Macau can apply for a special permit to crossover to mainland China for up to 90 days at a time whetherit's for sightseeingor business purposes.Up until now, the fast-track immigration channels were only open to Hong Kong residents with 'Home Return Permit' cards, but now, this new travel permit is going to give everyone the same speedy access, without having to deal with customs declarations when coming and going. Read on for our guide on how to get started.
This permit,not limited to any nationality or industry, is intended for non-Chinese Hong Kong and Macau permanent residents who wish to travel to the mainland for short-term purposes. Applicants under the age of 18 can also apply, but they must be accompanied by their guardians.
Make sure you have a valid Hong Kong permanent identity card, a passport with a validity period of at least six months (excluding passports not recognised by the Chinese government), and a completed Application Form for Mainland Travel Permit for Hong Kong and Macau Residents (Non-Chinese Citizens) with a recent photo.
Whether youre from Hong Kong or Macau, you will also need a nationality certificate that is issued within six months prior to the date of application, which is either a Notice of Application for Access to Information from the HK Immigration Department, or the Certificate of Personal Data issued by the Macao Identification Services Bureau.
The permit will be issued within 20 working days after the application is officially accepted, and needs to be picked up within 12 months at one of the designated service centres. If you fail to collect it in time without justifiable reasons, the permit will be waived and cancelled. For applicants under the age of 18, their legal guardians can collect the permit on their behalf.
The fee for the first application from Hong Kong is $260, while the fee for renewal or replacement from mainland China is 230 RMB.
Step 1: Complete an application form on the China Travel Service(CTS) Entry Permit Service Hong Kong Limited's website that requires your personal information, such as images of your Hong Kong Permanent Resident Identity Card and passport.
Step 2: After youve received an email notifying you that your pre-application has passed the preliminary review, you can log into the reservation system to book an appointment at a designated service centre. Make sure to bring with you a completed application form, Hong Kong Permanent Resident Identity Card, passport, and nationality certificates.
Step 3: If your application was successful after the payment and registration, you will receive an acceptance receipt that states your scheduled collection date.
Step 4: Simply pick up your permit within 12 months of the scheduled collection date and youre good to go!
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Macau government websites hit with cyberattack by suspected foreign hackers – The Record from Recorded Future News
Posted: at 6:51 pm
At least five Macau government websites were knocked offline by suspected foreign hackers for almost an hour earlier this week, several Chinese media outlets reported, citing local security officials.
A distributed denial-of-service attack (DDoS) affected, among others, the websites of Macaus security service, police force, fire and rescue services, and the academy for public security forces.
The densely populated Macau is a special administrative region on the south coast of China. Local police have launched a criminal investigation into the incidents to trace the source of the criminal activity.
The attack occurred on Wednesday evening and likely originated from overseas, according to local officials.
Following the incident, Macaus authorities carried out an emergency response in collaboration with telecommunication operators to promptly restore regular services, said the regions Secretary for Security, Wong Sio Chak.
The countrys security forces also instructed Macau Telecom, which provides the services to block DDoS attacks, to investigate the incident and submit a report and improvement plan to prevent similar attacks in the future.
It is not clear what hacker group was behind the incident or what their motives were.
Local media claimed that the latest attacks followed a surge in cyber activities in the region. According to a recent report, the number of cyberattacks targeting Macaus critical infrastructure last year has more than tripled since 2020.
Recorded Future
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Daryna Antoniuk
is a reporter for Recorded Future News based in Ukraine. She writes about cybersecurity startups, cyberattacks in Eastern Europe and the state of the cyberwar between Ukraine and Russia. She previously was a tech reporter for Forbes Ukraine. Her work has also been published at Sifted, The Kyiv Independent and The Kyiv Post.
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Macau Government Websites Hacked, Criminal Investigation Underway – Strategic News Global
Posted: at 6:51 pm
Several government websites in Macau were hacked, prompting the police to launch a criminal investigation to trace the source of the crime, according to Chinese state media reports on Wednesday evening.
Security officials from the Macau Special Administrative Regions government reported that several key websites were compromised, including the Office of the Secretary for Security, the Public Security Police, the Fire Services Department, and the Security Forces Services Bureau. The hacking incident resulted in these websites being blocked, disrupting services.
Authorities believe the intrusion originated from overseas, as reported by CCTV. No additional details or information were immediately available regarding the specifics of the attack or potential perpetrators. In response to the breach, Macaus security officials collaborated with telecommunications operators to restore affected services as quickly as possible. An emergency response was carried out to mitigate the impact and resume normal operations.
With Inputs from Reuters
Twitter: @resham_sng
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Olverembatinib Approved for Commercialization in Macau China – PR Newswire
Posted: at 6:51 pm
ROCKVILLE, Md.and SUZHOU,China, July 7, 2024 /PRNewswire/ -- Ascentage Pharma (6855.HK), a global biopharmaceutical company engaged in discovering, developing and commercializing both first- and best-in-class therapies for hematological malignancies, announced today that its novel BCR-ABL1 tyrosine kinase inhibitor (TKI), olverembatinib, has been approved by the Pharmaceutical Administration Bureau (ISAF) of the Macau SpecialAdministrative Region (SAR) of the People's Republic of China for the treatment of adult patients with tyrosine kinase inhibitors (TKI)-resistant chronic-phase chronic myeloid leukemia (CML-CP) or accelerated-phase CML (CML-AP) harboring the T315I mutation; and adult patients with CML-CP resistant to and/or intolerant of first-and second-generation TKIs. This approval marks another major milestone for olverembatinib following initial approvals granted to the drug in the Chinese mainland for the above indications.
Olverembatinib, a novel drug developed by Ascentage Pharma with support from the National Major New Drug Development program, is the first third-generation BCR-ABL1 inhibitor approved by China's National Medical Products Administration (NMPA). As a potential global best-in-class drug that can effectively target BCR-ABL1 and a spectrum of BCR-ABL1 mutants, including the T315I mutation, clinical trial results of olverembatinib have already been included in the National Comprehensive Cancer Network (NCCN) guidelines for the management of CML.[1] Olverembatinib is being jointly commercialized in China by Ascentage Pharma and Innovent Biologics. All lead drug candidates are being studied as they are an investigational drug and not approved in the US.
"Olverembatinib has the potential to be a global best-in-class drug. We are glad that the drug is set to benefit patients with CML in Macau, China, with the approval marking another major milestone in the clinical development of olverembatinib," said Dr. Dajun Yang, Chairman and CEO of Ascentage Pharma. "Since its inception, Ascentage Pharma has steadfastly committed to its mission of addressing unmet clinical needs in China and around the world. We are confident that over time, olverembatinib and our other investigational drugs will bring greater benefits to more patients globally."
Reference:
1. ShahN, Bhatia R,Altman JK et al.NCCN Clinical Practice Guidelines in Oncology (NCCN Guidelines) Chronic Myeloid Leukemia Version 2.2024(December 5, 2023). Available from: https://www.nccn.org/professionals/physician_gls/pdf/cml.pdf.
About Ascentage Pharma
Ascentage Pharma (6855.HK) is a fully integrated global biopharmaceutical company engaged in discovering, developing and commercializing both first-in-class and best-in-class therapies to address global unmet medical needs primarily in hematological malignancies. On October 28, 2019, Ascentage Pharma was listed on the Main Board of the Stock Exchange of Hong Kong Limited with the stock code 6855.HK.
The company has built a pipeline of 9 clinical-stage drug candidates, including novel, highly potent Bcl-2 and dual Bcl-2/Bcl-xL inhibitors, as well as candidates aimed at IAP and MDM2-p53 pathways, and next-generation TKIs. Ascentage Pharma is also the only company in the world with active clinical programs targeting all three known classes of key apoptosis regulators. The company is conducting more than 40 clinical trials, including 6 global registrational Phase III studies, in the US, Australia, Europe, and China.
Olverembatinib, the company's first lead asset developed for the treatment of drug-resistant chronic myeloid leukemia (CML) and the company's first approved product in China, has been granted Priority Review Designations and Breakthrough Therapy Designations by the Center for Drug Evaluation (CDE) of China National Medical Products Administration (NMPA). To date, the drug had been included into the China National Reimbursement Drug List (NRDL). Furthermore, olverembatinib has been granted Orphan Drug Designations (ODDs) and a Fast Track Designation (FTD) by the US FDA, and an Orphan Designation by the EMA of the EU.
To date, Ascentage Pharma has obtained a total of 16 ODDs from the US FDA and 1 Orphan Designation from the EMA of the EU for 4 of the company's investigational drug candidates. Leveraging its robust R&D capabilities, Ascentage Pharma has built a portfolio of global intellectual property rights and entered into global partnerships with numerous leveraging its robust R&D capabilities, Ascentage Pharma has built a portfolio of global intellectual property rights and entered into global partnerships with numerous leading biotechnology and pharmaceutical companies such as Takeda, AstraZeneca, Merck, Pfizer and Innovent ; and research and development relationships with leading research institutions such as Dana-Farber Cancer Institute, Mayo Clinic, MD Anderson Cancer Center, National Cancer Institute and the University of Michigan.
The company has built a talented team with global experience in the discovery and development of innovative drugs and is setting up its world-class commercial manufacturing and Sales & Marketing teams. One pivotal aim of Ascentage Pharma is to continuously strengthen its R&D capabilities and accelerate its clinical development programs, in order to fulfil its mission of addressing unmet clinical needs in China and around the world for the benefit of more patients.
Forward-Looking Statements
The forward-looking statements made in this article relate only to the events or information as of the date on which the statements are made in this article. Except as required by law, Ascentage Pharma undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events, or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. You should read this article completely and with the understanding that our actual future results or performance may be materially different from what we expect. In this article, statements of, or references to, our intentions and expectations or those of any of our Directors or our Company are made as of the date of this article. Any of these intentions and expectations may alter in light of future development.
SOURCE Ascentage Pharma
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Meet chef Betty Fung, the Macau foodie entrepreneur balancing business and wellness – South China Morning Post
Posted: at 6:51 pm
Meet Betty Fung, a culinary force in Macaus vibrant gastronomic scene. As the founder of Caf Bonbon, owner and head chef of the newly opened restaurant LanovaB, and a recognised Disciples Escoffier Macau Ambassador, Fung has made her mark with her exquisite French desserts and fusion cuisine.
Building on her kitchen skills honed at Le Cordon Bleu cooking school in Paris, she has become a noted foodie and influencer, sharing her passion for food and her glamorous lifestyle with a devoted following on Instagram and on its Chinese equivalent, Xiaohongshu.
We chat to the chef about her approach to wellness, how she combines it with her passion for cooking, and how she manages to strike a balance between work and life while wearing so many hats.
I make sure to prioritise my wellness routine. I also try to maintain a healthy work-life separation as much as possible. Even on my busiest days, my self-care practices help me stay focused and energised.
I always start the day with a nourishing breakfast made with fresh, seasonal ingredients.
Throughout my workday, I make sure to take regular breaks to stretch, meditate or step outside for some fresh air, and I enjoy taking my dog outside for a walk. I find these pauses are essential for maintaining my focus and energy.
I enjoy cooking nourishing meals at home. Sharing meals with friends and family is a cherished part of my lifestyle: food helps me unwind and find balance outside work.
I enjoy hiking and spending time in nature. Reading is also very meditative and restorative.
I enjoy eating at nice restaurants when I have the time, as it allows me to experience food through a different lens and get inspired. These activities let me step away from the demands of running my businesses, and recharge my mind and body.
Wellness is a key priority for me so it greatly influences my approach to cooking and menu development at LanovaB. My goal is to create dishes that are both delicious and nourishing, using fresh, whole foods.
I incorporate certain ingredients into the menu based on their health benefits. For example, I use lots of fresh vegetables, lean proteins and fresh herbs because they are so nutritious.
I also favour slow cooking methods, such as using a slow cooker or braising, which help preserve nutrients.
Roasting vegetables, meats and fish at moderate temperatures 200 degrees Celsius helps retain more nutrients compared to high-heat cooking methods too.
Understanding and honouring Macaus unique food heritage is central to the identity and success of my restaurant, so I make a real effort to immerse myself in the local culinary traditions and build relationships with local business owners and purveyors. This connection to the community provides a source of inspiration and fulfilment.
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Galaxy Macau, The World Class Integrated Resort, Brings the "Experience Macao Malaysia Roadshow" to Kuala Lumpur – PR Newswire
Posted: at 6:51 pm
Presenting an Authentic and Immersive Macau Experience to Visitors Under One Roof
KUALA LUMPUR, Malaysia, July 5, 2024 /PRNewswire/ -- Galaxy Macau, The World Class Integrated Resort ("Galaxy Macau"), has been actively supporting and participating in Macau SAR Government's promotional activities, and continuously working with the government and industry partners to expand international visitor sources. The "Experience Macao Malaysia Roadshow", organised by the Macao Government Tourism Office, was officially launched on 5 July 2024 in Kuala Lumpur at Sunway Pyramid Shopping Mall. The four-day event (5 to 8 July) aims to showcase the diverse tourism products in Macau to international tourists, attracting travellers to choose Macau as a travel destination. Galaxy Macau is also shining with its exciting tourism products by presenting its unparalleled luxury offerings and its one-stop luxury resort experience as Asia's leading destination for leisure, entertainment, dining, events and conferences.
Galaxy Macauproudly supports and aligns with the Macao SAR government's efforts to extend Macau's reach into the Southeast Asian market. The world-class integrated resort's iconic booth at the Malaysia Roadshow, showcasing the grand landscape of the integrated resort. Visitors to the booth can not only enjoy the interaction and photo moment with the adorable GalaxyKidz mascot "Wavey" the Peacock at the photobooth, but also experience the unique charm of Macao's "tourism+" offerings, reflecting Galaxy Macau's commitment to promoting Macau as a World Centre of Tourism and Leisure.
There are also daily lucky draws during the roadshowwhere visitors can stand a chance to win prizes sponsored by Galaxy Macau.
Starting from MYR271++ per night, Galaxy Macau is offering roadshow-exclusive offers for stays between 12 July to 30 November 2024 from a selection of world class hotels Andaz Macau, Broadway Hotel, Galaxy Hotel, Hotel Okura Macau or Banyan Tree Macau. Booking period opens from 5 to 19 July 2024. Applicable to all five hotels, the offer includes free access to the Grand Resort Deck and free minibar, immersing guests in a comprehensive one-stop integrated resort experience.
A Macao Travel Trade Seminar & Minimart was also conducted at the Sunway Resort Hotel Ballroom on 4 July 2024 in conjunction with the "Experience Macao" Malaysia Roadshow, where guests were presented with the latest hotel information on Andaz Macau, Broadway Hotel, Galaxy Hotel, Hotel Okura Macau, Banyan Tree Macau, and Galaxy International Convention Centre (GICC).
Remaining the top integrated resort globally with the most Forbes five-star hotel honors under one roof Galaxy Macau spans over 1.1 million square-meters and is renowned for its unparalleled mix of entertainment and leisure attractions that are unmatched in Macau. With 8 award-winning world-class luxury hotels to choose from, guests are spoilt for choice. Water sports enthusiasts can make a splash at the 75,000-square-meter Grand Resort Deck the world's leading skytop oasis. Foodies meanwhile can indulge in a selection of over 120 dining options, ranging from Michelin-starred establishments to local street food legends; a delectable selection that has earned Galaxy Macau the distinction of being Asia's premier dining destination. For an authentic Asian street food adventure, guests can cross the link bridge to explore vibrant local and Asian cuisines at Broadway Food Street. Fashionistas will adore Galaxy Promenade, an award-winning shopping destination spread over 100,000 square-meters. Luxury flagship stores, designer boutiques and high-street labels contribute to over 200 world-renowned luxury fashion and lifestyle brands. For live performances and events, the 2,500-seat Broadway Theatre plays host to a diverse range of live shows, events and cultural activities from around the world with up-close and personal experiences. Galaxy Macau opened two world-class hotels Raffles at Galaxy Macau and Andaz Macau, with GICC as its latest addition to the Group's ever-expanding integrated resort precinct, ushering a new era for the MICE industry in Macau. GICC is a world-class event venue featuring 40,000 square-meters of total flexible MICE, and a 16,000-seat Galaxy Arena the largest indoor arena in Macau. In April 2024, Galaxy Macau also announced the launch of Capella at Galaxy Macau, further solidifying the destination's undisputed reputation as Macau's Ultimate Luxury Integrated Resort.
Galaxy Macau has always adhered to its "World Class, Asian Heart" service philosophy to offer exceptional experiences for guests from all around the world. As the city gears up for a continuing wave of international tourism, Galaxy Macau looks forward to welcoming visitors with award-winning accommodations, unforgettable leisure experiences, and unparalleled shopping, dining and entertainment all under one roof. In the future, Galaxy Macau will continue to launch more world-class events to enhance Macau's positioning as a World Centre of Tourism and Leisure.
More high-res images of the Experience Macao Malaysia Roadshow can be found in the virtual media kit.
About Galaxy Macau Integrated Resort
Galaxy Macau, The World-class Luxury Integrated Resort delivers the "Most Spectacular Entertainment and Leisure Destination in the World". Developed at an investment of HK$43 billion, the property covers 1.1 million-square-meter of unique entertainment and leisure attractions that are unlike anything else in Macau. Eight award-winning world-class luxury hotels provide close to 5,000 rooms, suites and villas. They include Banyan Tree Macau, Galaxy Hotel, Hotel Okura Macau, JW Marriott Hotel Macau, The Ritz-Carlton, Macau, Broadway Hotel, Raffles at Galaxy Macau, Andaz Macau. Unique to Galaxy Macau, the 75,000-square-meters Grand Resort Deck features the world's longest Skytop Adventure Rapids at 575-meters, the largest Skytop Wave Pool with waves up to 1.5-meters high and 150-meters pristine white sand beach. Two five-star spas from Banyan Tree Spa Macau and The Ritz- Carlton Spa, Macau help guests relax and rejuvenate.
As the dining destination in Asia, Galaxy Macau offers a wide variety of gastronomic delights, exquisite experiences and ingredients of the finest quality with over 120 dining options from Michelin dining to authentic delicacies; Galaxy Promenade is the hottest shopping destination featuring the latest in fashion and curated experiences in Macau. Spanning over 100,000-square-meters, luxury flagship stores, lifestyle boutiques and our selection of labels are among the more than 200 world-renowned brands for a world-class shopping journey; Galaxy Cinemas, immersive thrills and luxurious comfort go hand in hand at Galaxy Cinemas. All 10 theaters are equipped with the latest audio-visual technology; CHINA ROUGE, one-of-a-kind deluxe lounge that evokes the glitz and glamor of Shanghai's golden era with entertainment in luxury and style; and Foot Hub presents the traditional art of reflexology to make you feel more relaxed and revitalized. For Authentic Macau Flavours & Vibrant Asian Experiences, Broadway Macau just a 90-second walk via a bridge from Galaxy Macau, has over 35 Authentic Macau & Asian Flavours at its Broadway Food Street. The 2,500-seat Broadway Theatre plays host to world-class entertainers and a diverse array of cultural events. Meeting, incentive and banquet groups are also well looked after with a portfolio of unique venues in Galaxy Macau and a professional service staff.
Galaxy International Convention Center (GICC) is the latest addition to the Group's ever-expanding integrated resort precinct and will usher in a new era for the MICE industry in Macau. GICC is a world- class event venue featuring 40,000-square-meter of total flexible MICE, and a 16,000-seat Galaxy Arena the largest indoor arena in Macau.
For more details, please visit http://www.galaxymacau.com,www.broadwaymacau.com.mo and http://www.galaxyicc.com
SOURCE Galaxy Macau Integrated Resort
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Macau sees 75% jump in gambling-related crimes during first five months of 2024 – Yogonet International
Posted: at 6:51 pm
Recent statistics from the Judiciary Police (PJ) reveal a significant surge in gambling-related crimes in Macau during the first five months of 2024, a 75.5 percent increase compared to the same period last year.
According to local media reports, there were 579 recorded cases, with fraud accounting for a substantial portion at 130 cases, 52 more cases than last year. About two-thirds of these cases are reportedly linked to money exchange gangs involved in illegal foreign exchange activities within the gambling hub.
During the same period, PJ identified 1,924 members of these money exchange gangs, with 927 individuals subsequently banned from Macau casinos by the Gaming Inspection and Coordination Bureau.
Instances of loan sharking have also seen a sharp rise, jumping from 18 cases in early 2023 to 104 cases this year. This increase highlights concerns about the resurgence of such activities as Macau emerges from the Covid-19 pandemic.
Other crimes, such as theft and failure to report found objects, have also seen an uptick, particularly in bustling gambling districts frequented by tourists and locals alike.
Law enforcement officials in Macau reported an 18 percent year-on-year increase in overall crime during the first quarter of 2024, primarily attributed to the rise in scams and fraud cases.
Meanwhile, provisional data from the Macao Government Tourism Office (MGTO) indicates that the gambling destination received 1.1 million international visitors in the first half of the year.
Talking to public broadcasting services TDMs Ou Mun Tin Toi, MGTO Deputy Director Ricky Hoi said Macau is on track to surpass 2 million foreign visitors in 2024. The predicted numbers are significantly higher than last year's 1.4 million, though still short of the 3 million visitors recorded in 2019.
Hoi also mentioned that MGTO is working to broaden its international visitor base through partnerships, such as organizing one-day visits to Macau for up to 500 passengers from cruise ships docking in Hong Kong.
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Sands, Wynn Price Targets Lowered on Recent Macau Softness – Casino.Org News
Posted: at 6:51 pm
Posted on: July 9, 2024, 03:23h.
Last updated on: July 9, 2024, 03:23h.
Following a surprisingly soft June gross gaming revenue (GGR) report in Macau, an analyst modestly pared price targets on Las Vegas Sands (NYSE: LVS) and Wynn Resorts (NASDAQ: WYNN), though he remains constructive on both casino stocks.
In a new report to clients, Macquarie analyst Chad Beynon revealed new price forecasts on Sands and Wynn of $58 and $126, respectively, down from $60 and $128. For Sands, which is the largest Macau operator with five integrated resorts, that implies upside of 40% from the July 8 close. Beynons new price target on Wynn implies 12-month upside of 30%.
Overall, we believe consensus remains conservative, particularly for WYNN, which we believe can gain share. We continue to be bullish on the long-term growth prospects for Macau, and ranked Macau as our top sectors in our 2024 Gaming Prime, wrote the analyst.
He maintained outperform ratings on both Sands and Wynn as well as MGM Resorts International (NYSE: MGM). MGM owns of 56% of MGM China, which runs two Macau casino resorts. Macquaries price target on that stock remained unchanged at $58.
While the June numbers came in below expectations, Macaus GGR is trending in the right direction. For the second quarter, the combined figure was $7.1 billion, or 23% below the comparable stretch in 2019 the last year prior to the coronavirus pandemic. Thats slightly better than first-quarter GGR, which was 25% below the same timeframe in 2019.
Annual visits to the Asian casino center trended higher in the decade ending 2019, peaking at 39.40 million in that year, but in 2023, that number was 28.21 million. That implies theres still a long runway for Macau operators to get back to pre-pandemic norms and, if that goal is achieved, Macau gaming equities could benefit.
Still, investors have exercised little patience with Macau equities in 2024 as the group is lower by 7% while the S&P 500 is higher by almost 17%. LVS, MGM and Wynn are all members of that index.
We expect July GGR to be ~$2.4 billion or -22% vs 2019. Looking at the 3- year pre-COVID average, July is typically +10% vs June, and we forecast July 2024E to be +8%, added Beynon. Looking ahead to 3Q, we are calling for $7.4 billion of GGR, which would imply +4% sequential, +20% year-over-year, and -17% vs 2019. Consensus currently calls for 3Q24E Macau EBITDA quarter-over-quarter to be as follows: LVS +3%, WYNN +1%, and MGM +0%.
Integral to the broader investment thesis for Sands and Wynn is the ability of those operators to capture more share among mass market bettors in Macau and leverage non-gaming amenities there. Those are relevant pursuits because the enclaves VIP market remains stagnant.
Theres evidence that the operators and rivals are accomplishing those objectives with Sands China proving particularly adept at capitalizing on non-gaming offerings while Wynn Macau has shown progress in pivoting to mass market players. Those could be among the reasons why Macaus 2024 GGR figure will be solid.
For 2024, we expect GGR of -20% vs 2019 (+28% YoY), or ~US$29.3bn, with mass continuing to run above pre-pandemic levels. With additional operator revenue growth in mass and non-gaming, we model for margin upside despite higher opex concessionaire commitments, concluded Beynon.
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Sands, Wynn Price Targets Lowered on Recent Macau Softness - Casino.Org News
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Macau Sees 75.5% Surge in Gaming Crimes Amid Rising Tourism in 2024 – World Casino Directory
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Macaus Judiciary Police (PJ) reported a significant rise in gaming-related crimes, with 579 cases documented from January to May 2024, marking a 75.5% increase compared to the same period in the previous year.
Throughout these five months, there were 104 instances of loansharking and 17 related detentions, according to a report published by Inside Asian Gaming. These figures represent a significant year-on-year rise, with loansharking cases alone increasing by 86 and related detentions by 14. The PJ also noted a surge in theft and failure to report found objects, predominantly occurring in high-traffic gaming districts.
Moreover, gaming-related fraud cases saw an uptick, increasing by 52 cases to 130. The PJ highlighted that approximately 66.7% of these fraud cases were intricately linked to money exchange gangs.
From January to May, the PJ, in collaboration with the Public Security Police, apprehended 1,924 individuals associated with money exchange gangs. Of these, 927 were referred to the Gaming Inspection and Coordination Bureau (DICJ) to be placed on the list of individuals prohibited from entering casinos. Additionally, 30 Macau residents were identified for their involvement in illegal money exchange activities, leading to the initiation of administrative penalty procedures against them.
Despite these developments, the PJ noted that no cases of murder or kidnapping were recorded in Macau during this period, and serious crimes maintained a low occurrence rate, ensuring stable social security. However, the increase in crimes related to the gaming and tourism sectors, particularly fraud and information crimes, remains a concern.
Tourism Insights: Over 1 Million International Visitors in First Half of 2024
Provisional data from the Macao Government Tourism Office (MGTO) indicates that Macau received 1.1 million international visitors in the first half of 2024, as stated by MGTO Deputy Director Ricky Hoi.
The Deputy Director projected that Macau is on track to surpass 2 million foreign visitors by the end of the year. This forecast suggests a significant recovery from the 1.4 million visitors recorded in 2023, though it still falls short of the over 3 million international arrivals in 2019.
Hoi mentioned that the MGTO is actively working to diversify its international visitor base. One strategy involves partnering with cruise ship operators in Hong Kong to facilitate one-day excursions to Macau for up to 500 passengers.
According to Hoi, in addition to these efforts, the MGTO plans to launch an extensive tourism promotion campaign for Macau in the latter half of 2024.
In recent months, Macau has conducted a series of roadshows in international markets such as Thailand, Malaysia, Singapore, and Japan. These initiatives aim to boost the citys profile and attract more visitors from these regions.
The rise in gaming-related crimes juxtaposed with the efforts to revive international tourism highlights the complex dynamics Macau faces as it navigates the challenges and opportunities of 2024. While the increase in crime poses a significant issue for local authorities, the influx of tourists brings hope for economic recovery and growth in the post-pandemic era.
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Macau sees 1.1 million international visitors in first half of year – Yogonet International
Posted: at 6:51 pm
Provisional data from the Macao Government Tourism Office (MGTO) indicates that the gambling city received 1.1 million international visitors in the first half of the year.
Talking to public broadcasting services TDMs Ou Mun Tin Toi, MGTO Deputy Director Ricky Hoi said Macau is on track to surpass 2 million foreign visitors in 2024. The predicted numbers are significantly higher than last year's 1.4 million, though still short of the 3 million visitors recorded in 2019.
Hoi also mentioned that MGTO is working to broaden its international visitor base through partnerships, such as organizing one-day visits to Macau for up to 500 passengers from cruise ships docking in Hong Kong.
Additionally, MGTO plans to launch a major tourism promotion campaign for Macau in the latter half of the year. In recent months, Macau has conducted roadshows in several international locations, including Thailand, Malaysia, Singapore, and Japan.
Even as the visitor inflow signals hopes of a business revival,Macau's gaming revenue slowed in June, impacted by fewer long holidays and cautious spending by Chinese tourists.
Gross gaming revenue (GGR) grew 16.4% year-on-year to 17.7 billion patacas ($2.2 billion), according to theGaming Inspection and Coordination Bureau. However, thisgrowth fell short of the median analyst estimate of a 17.5%increaseand represented a12.4% decline from May's figures. The revenue was also25.7% lower than pre-pandemic levels in 2019.
June is traditionally a slower periodfor Macau's casinos, with a dip in visitors following May's Golden Week holiday.In 2019,June's gaming revenue was 8% lower than in May.The decline in spending by Chinese tourists, who make up the largest visitor group to Macau, further contributed to the revenue slowdown.Economic uncertainty has led to more cautious spending among these visitors.
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Macau sees 1.1 million international visitors in first half of year - Yogonet International
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