Category Archives: Macau

Wynn Resorts reported operating revenue of $686m for Q4, an almost 59% decline from $1.65bn recorded for the same period in 2019.

Net loss was $269.5m, a sharp increase from a net loss of $72.9 the previous year. Adjusted property EBITDA for Q4 was $69.8m, against $443.1m in 2019. Operating revenues for the year 2020 were $2.1bn, a 68% drop compared to $6.6bn in 2019.

Total Macau operations reported adjusted property EBITDA of $39.4m. Operating revenues from Wynn Palace were $221.5m, while Wynn Macau reported $181.9 for Q4.

Operating losses in Macau for Q4 were $74.3m, a drop from positive $207.9m reported for Q4 2019, but an improvement from the $216m loss recorded in Q3 2020. For the year that ended on 31 December, Macau operations reported an operating loss of $704m.

Wynn Resorts CEO Matt Maddox said: "We are encouraged by the progress we have made at each of our properties over the past several months, as we continue along the road to recovery from the pandemic."

He noted that the easing of visitation restrictions and the strength of premium mass business in Macau helped with Adjusted property EBITDA profitability. Operations in the US remain cost-focused, with the further development of WynnBet online casino and sports betting app.

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Wynn Resorts reports 59% Q4 revenue drop; huge losses in Macau - Gambling Insider - In-depth Analysis for the Gaming Industry

PETALING JAYA: In yet another Macau scam case, a 74-year-old woman lost almost RM1mil.

On Sept 25 last year, the retiree received a call from a person claiming to be from Pos Lajus headquarters.

Petaling Jaya OCPD Asst Comm Nik Ezanee Mohd Faisal said according to the victim, she received a call telling her there was a package for her containing a MyKad and three ATM cards.

The suspect then connected the call to another person who claimed to be an officer from the Sabah police headquarters.

The policeman claimed she was involved in money laundering, said ACP Nik Ezanee.

He added that the call was then transferred to a third person identifying himself as Si Wan, who said the victim would be detained if she did not cooperate.

Out of fear, the victim revealed her bank account details over the phone, he said.

The victim then transferred RM833,000 from her Tabung Haji account to her bank account on Oct 1.

The so-called Si Wan then asked the victim to hand over her ATM cards, purportedly for auditing purposes, on Oct 5.

The victim was instructed to place the cards in a mailbox at a shopping mall.

This was done the following day, said ACP Nik Ezanee.

The victim subsequently transferred another RM159,000 to her other bank account in several transactions, he added.

The victim only realised she had been duped and lodged a police report on Feb 3, four months after first talking to the scammers.ACP Nik Ezanee warned that Macau scam syndicates were targeting senior citizens.

He advised those who received such calls not to be fooled.

If you receive such calls, check with your family members or call the police, he said.

Macau scams often start with a call from someone claiming to be an officer from a bank, government or law enforcement agency.

The scammer will then claim the victim owes money or has an unpaid fine, often with an hour or less, to settle the payment or face dire consequences.

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Retiree duped out of nearly RM1mil in Macau scam - The Star Online

The passing last month of Sheldon Adelson, Las Vegas Sands and Sands Chinas founder, chairman and CEO, provides an opportunity to reflect on his companys impact on the development of Macau and to examine Adelsons personal values, which have shaped both the companys business strategy and its relationship with the local community.On Feb 8, the Macau SAR is set to see the first-phase opening of The Londoner Macao, Sands Chinas British-themed reimaging of its Sands Cotai Central integrated resort. After bringing Venice and Paris to Macau, the companys unveiling of The Londoner Macao represents the latest fulfillment of Adelsons vision for the integrated resorts on the Cotai Strip.As a pioneer, entrepreneur, visionary and philanthropist, Adelsons commitment to the SAR and the local community helped transform Macau into what it is today.For over a decade, Sands China has dynamically invested in bringing global landmarks to the city, providing a unique experience for local residents and tourists totaling more than USD14 billion of investment in Macau to date.And despite the economic crisis brought forth by the Covid-19 pandemic, Sands China has provided reassurance and affirmed its continued reinvestment in non-gaming development in the SAR, in line with not just Adelsons vision, but also the Macau governments vision of developing a world center of tourism and leisure.Adelsons contributions to Macaus tourism industry are well known. But for him, it was never just about gaming. Rather, he decided to begin his Macau venture by bringing the first Las Vegas-style casino and entertainment complex to the city in 2004 with the Sands Macao. He then chose to follow that unparalleled success not with another property on the peninsula, but instead took the gutsy move of choosing the undeveloped land on Cotai for introducing Macau to his game-changing integrated resort concept with The Venetian Macao in 2007. The iconic property became an instantly recognizable landmark in Macau, and set the stage for the further development of the Cotai Strip by Sands China and Macaus other concessionaires bringing millions of tourists to the region.This particular approach of using the integrated resort model has reshaped the citys gaming and tourism industries, including by bringing in international standards of customer service and operations across the spectrum of the integrated resort business pillars: accommodation; retail; meetings, incentives, conferences, and exhibitions (MICE); entertainment; dining; and gaming.The integrated resort model has likewise had a tremendous economic and human resources impact in Macau, creating a diverse range of employment opportunities with new types of jobs in industries new to Macau, such as MICE and entertainment which has in turn developed the pool of local professional talent and attracted millions of tourists each year to a diverse business and leisure destination.

Philanthropy as a core principleAdelsons vision for Cotai was not limited to the growth of economy and industry. Rather, he brought his spirit of philanthropy with him to the SAR, setting an example for corporate social responsibility.For instance, Sands China was the first gaming operator to form a volunteer team in 2009, now known as the Sands Cares Ambassadors, totaling over 3,300 team members at present.The platform serves the local community by organizing and supporting activities and initiatives which help create a better Macau.The integrated resort operator was also the first to support the Peng On Tung Tele-Assistance program 12 years ago, aiming to engage with the local community and the elderly in particular. The company has so far donated a total of MOP2.3 million to the program, benefiting nearly 9,700 live-alone elderly to date.Sands China has often expressed the sentiment that the companys growth and success should go hand-in-hand with that of the wider communitys.That mission finds expression through the companys charitable giving and community engagement program, Sands Cares, which is rooted in Adelsons spirit of philanthropy and focuses on four key areas: community problem solving and collaboration, financial giving, in-kind donations, and team member volunteerism.Sands Chinas relationship with Fuhong Society of Macau is one example of how Adelsons philanthropic aims have helped boost the quality of life for some of societys vulnerable groups.Weve never failed to sense the dedication and hard work contributed by Mr. Sheldon Adelson, the association expressed. We fully appreciate the fact that his inspiring leadership and pursuit of excellence have created a company with an enviable reputation for production quality both here and abroad.

Isabel da Silva, director of Development of Orbis Macau, also expressed the organizations gratitude, noting that Following in Mr. and Mrs. Adelson philanthropic footsteps, we have always been most grateful for the generous support extended to the sight-saving programs and vision of Orbis by Sands China Group, allowing for us to carry on our long-term mission to fight avoidable blindness and helping the many visually impaired people around the world.The Association of Parents of the People with Intellectual Disabilities of Macau also shared the sentiment, remarking, He touched the lives of others in great ways, especially people with intellectual disabilities as well as their families. He has left behind many fond memories among all of us.Adelson also ensured his firm was having an impact on educational institutions.In 2018, the Adelson Family Foundation presented the University of Saint Joseph with a donation of more thanUSD1.9 million(approximately MOP15.4 million) to assist with recovery efforts following Typhoon Hato and subsequent storms that caused major damage to the new campus.Recalling the much-needed assistance, rector of the University of Saint Joseph, Reverend Professor Stephen Morgan remarked, At this university, we will never forget the way in which the Adelson Family Foundation came to our rescue after Typhoon Hato destroyed so much of our new campus in August 2017.As it is, our campus was able to open and be inaugurated with minimum delay. Today the Ilha Verde Campus stands, in part, as witness to Mr. Adelsons benevolence. For us, his memory will always be a blessing, he added.

Team members come firstNotwithstanding the challenges brought about by the current pandemic, Sands Chinas commitment to Macau has remained unwavering throughout this difficult period something that Adelson was firm about.Amid the economic and business crisis, the late founder was adamant that the company should do all that it can to support team members, their families, and the Macau community at large.And next week, the company is paying a discretionary allowance to more than 26,000 eligible full-time team members, as it has done many times prior, providing them with up to an additional months salary in gratitude for their dedication and contributions in 2020 benefitting 99% of Sands Chinas total employment.So as Macau prepares to greet the Year of the Ox, Cotais integrated resorts are getting ready to bring new attractions to the city, with The Londoner Macao the first on the horizon. And with Macau set to welcome tourists with more non-gaming offerings, the city looks ahead with optimism for post-pandemic recovery.

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Sheldon G. Adelson | The man who successfully turned his vision for Cotai to reality - Macau Daily Times

Qingmao Port, another immigration facility located next to the Border Gate, is expected to be operational in the second half of this year, according to Secretary for Security Wong Sio Chak. The construction is expected to be completed in April. After that, the security authority will test the capacity of the facility before the local government and Zhuhai government enter into a discussion regarding the opening of the port.

Theatre Alegria is prepared to screen four films to audiences during the approaching Spring Festival Holiday. The four films include mainland flicks New Gods: Nezha Resborn, Assassin in Red, and Detective Chinatown 3, as well as Korean film New Year Blues. Theatre Alegria is unable to bring Hong Kong films to Macau since last December because Hong Kong film companies have released new films directly to streaming sites. These films will be streamed on the same day in both mainland China and in Macau.

Local authorities disclosed that a person was injured in a fishing vessel fire at sea, in the Inner Harbor on Wednesday at approximately 6:30 p.m. The person was in a stable condition when was sent to hospital for treatment. Authorities have urged fishermen to stay alert to emergencies as more fishing vessels return to Macau for Chinese New Year. The cause of the accident is under further investigation.

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Briefs | Qingmao port expected to open in 2h of 2021 - Macau Daily Times

A report released by the Commission Against Corruption (CCAC) yesterday says that officials responsible for the vetting and approval of MOP 212 million in loans to Viva Macau, a locally incorporated private airline which went belly up in 2010, failed in their duties.

However, the report insists that no-one intentionally broke the law when the governments Industrial and Commercial Development Fund (FDIC) granted the loans in 2008 and 2009. On the other hand, the report says that concerning the vetting and approval of the loan applications by Viva Macau, the respective officials neither strictly required that the application papers were complete nor carefully scrutinised the applicants repayment capacity.

The report also says that there was a lack of prudence concerning the loans repayment guarantee requirement and supervision.

According to the report, the fund handed its documentation on the Viva Macau loan case to the CCAC for investigation in 2018.

The report underlines that its investigation found no indications of fraud or graft concerning the granting of the loans to Viva Macau.

Meanwhile, Chief Executive Ho Iat Seng, who is currently on a working visit to Hainan, said in a statement yesterday that he had directed government entities to closely study the suggestions and issues raised by the report.

Ho pledged in his statement that as part of the ongoing public administration reform effort, his government will carry out an in-depth assessment of the functions, structure, regulations and laws governing all public funds, with a view to ensure proper use of public resources.

The FDIC is overseen by the Economic Services Bureau. Ho ordered Secretary for Economy and Finance Lei Wai Nong to review the loan granting process by the fund.

Both Air Macau and Viva Macau were affected by the global financial crisis of 2008-09. While the government injected MOP 215 million into Air Macau, of which it is a shareholder, it granted Via Macau, which was privately owned, loans totalling MOP 212 million which in the wake of the airlines bankruptcy were never repaid. When Viva Macau went out of business, officials found only MOP 20,000 in the airlines accounts, the report points out.

According to the report, disciplinary or penal consequences that might have resulted from the case are already statute-barred.

(The Macau Post Daily/Macau News)

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CCAC says officials who granted loans to Viva Macau 'failed in their duties' - Macau News

The recovery of Macaus gaming industry has proven to be slower than levels seen in other jurisdictions across Asia-Pacific, despite some signs of improvement over the first two weeks of September.

According to a Monday note from investment bank JP Morgan, gross gaming revenue over the past week reached approximately MOP$115 million per day an improvement upon MOP$80 million per day in the first week of September and three times higher than the MOP$40 million per day of July and August.

Visitation has also reached about 15,000 arrivals per day compared with 2,500 through July and less than 8,000 in August.

However, JP Morgan analysts DS Kim, Derek Choi and Jeremy An noted this was still below earlier expectations that daily GGR would have reached closer to MOP$200 million per day by now after IVS visas were reinstated for the entirety of Guangdong Province from 26 August.

The pace seems slower than what weve seen in other re-opened jurisdictions (such as Australia, Korea or US regionals, where local demand recovered to 70-100%+ of pre-COVID-19 levels in a matter of a months), they said, adding that the numbers suggest Guangdong has recovered to around 40% of its daily visitor numbers from 2019.

The slower recovery is attributed to, Weak VIP amidst increased scrutiny on capital-flow and junket/agents some practical issues that hinder visitations, such as slower visa processing (due to yet-to-reopen self-service kiosks) or COVID-19 testing; and seemingly less-than-strong confidence in travelling overseas.

Wed like to think that these are rather transitory and can be resolved gradually in the coming months, but we admit the visibility is low.

The analysts estimate September GGR to reach between 15% and 20% of last years level in September rising to between 40% and 50% in October, aided by the 1 October Golden Week holiday.

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Visitation on the rise in September but Macau recovery slower than other jurisdictions - Inside Asian Gaming

The new MJC racing season kicks off this Saturday with six sand races, I would like to pick for a runner that has already shown improvement in his races and with the off season preps that aim for an early season success coming through on the season opening. The runner is Modena Best (pictured) from Wayne Smiths yard, he will get his chance in this particular sand race. Wayne Smith has sat on him in his track work and he is very please with Modena Bests response in yesterday work out. Modena Best is a consistent sand performer his last race on 1800 metres turf was messy and raced wide without cover throughout, this time he has W.L Ho on the plate, hopefully through his good pair of hands, Modena Best will get good cover from the early stages of the race, and then find a good tactical position in the last 200 metres with the good stamina that he inherited from Medaglia DOro and fire on. Wayne Smith is in good form towards the end of last season lets all hope that Modena Best will fly the flag early for Waynes yard this Saturday. Davy Chiu

Race 5 Horse no. 9 Modena BestWin & Place

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Macau Racing Tips: The Honan 1510 Metres Sand 2020-09-19 | Sat | 14:00 - Macau Daily Times

A new youth space on the education of Love for the Motherland and for Macau should open in the territory in December, authorities announced.

The space, located at MacausTransfer of Sovereignty Museum, will have several educational media on patriotic matters, the Education and Youth Bureau (DSEJ) Director, Lou Pak Sang, explained yesterday.

During a meeting with the media, Lou Pak Sang also said that the space will cost MOP2.5 million and will feature videos and materials on Chinese culture and history provided by the department.

Its facilities will also include a thematic interactive teaching area, a Chinese culture room, a country and Macau history corridor and a multimedia room with patriotic teaching materials, which will showcase Chinese history and culture over five thousand years, the successes of the development of China, the history of Macau and patriotic education, among other elements, using diversified forms, such as the recreation of real objects and multimedia, among others, he said.

On the same occasion, the authorities said that they are preparing a new public consultation on Medium and long-term planning for non-higher education (2021-2030) and Macau Youth Policy (2021-2030) and with the support of experts from Taiwan and Hong Kong, around 100 youth associations, among other local authorities.

Inheriting the love of the motherland Macau, physical and mental virtue, improving capacities, harmony and participation in society will be the themes highlighted in this plan, he detailed.

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Youth space for 'education of love for the motherland' due to open in December - Macau Business

The Macao Fashion Festival 2020 will be held from October 22 to 24 at the Cotai Expo Hall A with the theme Green Sustainability.Covering an area of 1,116 square meters, the upcoming show will feature a total of 31 brands, the majority of which are from Macau. A number of the brands are from Shenzhen, Guangzhou and Hong Kong.According to the organizers of the show, this years festival aims to promote sustainable design to help reduce the negative impact of the fashion industry on the environment.Unlike last year, when international brands and designers participated in the event, this year the event will only feature designers from neighboring regions due to the travel and entry restrictions associated with Covid-19.Organizers announced in a meeting held yesterday that the festival will highlight the Boutique Gallery, inviting local fashion designers and creative stores to retail their products on the site.These products include accessories, wallets and watches, among others that are all Made-in-Macau items.For these three days, a 30-minute fashion tour will be held at the event daily.The opening ceremony will feature a fashion parade from designers from Shenzhen, Hong Kong, Guangzhou and Macau.Representing Shenzhen is designer Sun Gui Tian, who is the founder of Yizhou and was awarded the Shenzhen Fashion Grand Award at Shenzhen Fashion Week.Jeania Tang, from Guangzhou, will present some of her gold-threaded embroidered Chinese wedding gown pieces, while Janko Lam, from Hong Kong, will present her brand, which intertwines Chinese aesthetics with modern design elements informed by the concept of sustainability and durability.Meanwhile, local designer Isabella Choi is set to feature her brand, Nega C. Fashion, the design concept of which focuses on living a casual life that incorporate elements of street culture.Another local representative is Axoxyxoxs, a long-time recipient of the governments Subsidy Programme for Fashion Design on Sample Making.Last year, the festival attracted a total of 55 designers and fashion brands from different regions.Fifteen local brands had fashion displays, while six professional fashion shows were organized to show a total of 383 fashion pieces.This year, despite the social distancing measures urged by the government, organizers of the event are expecting a similar number of attendees.The festival is co-organized by the Macau Productivity and Technology Transfer Center (CPTTM) and the Macao Trade and Investment Promotion Institute.The Macau Daily Timesis an officialmedia partner of the event.

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Fashion festival to be themed Green Sustainability - Macau Daily Times

Prosecutors in Washington have charged a US citizen for joining the so-called Islamic State group in Syria, according to a statement from the Justice Department Wednesday.

The charges allege that Lirim Sylejmani conspired to provide and provided material support to IS, which the United States has classified as a terrorist organization, between 2015 and 2019.

The department also claimed he received military training from the self-styled caliphate.

The defendant is a U.S. citizen who abandoned the country that welcomed him to join ISIS in Syria, acting US Attorney Sherwin said in the statement of Sylejmani, who was born in Kosovo.He will now be held accountable for his actions in an American courtroom.

Sylejmani was captured by the US-backed Syrian Democratic Forces (SDF) last year, according to the statement, before facing investigation by the FBIs Washington Field Office Joint Terrorism Task Force.

The question of how to handle captured foreign IS fighters has vexed Western governments, with the US vying for European countries to repatriate and try their own citizens.

Nations such as France and Britain reject the return of battle-hardened supporters of the ultra-violent IS group, which has claimed responsibility for a slew of grisly attacks against civilians.

Some European governments, including Britain, have revoked the citizenship of a number of citizens over alleged IS links.

But the US has pushed back against these approaches.

Leaving them in the desert is not an effective solution. It makes it more likely theyre going to find their way back to the battlefield, and accepting that risk is not being tough on terrorism, the US State Departments counterterrorism coordinator Nathan Sales told a meeting in Brussels last year.

Plus, it could put an undue burden on Middle Eastern countries already dealing with their own former IS-fighter citizens, according to the US.

The EU-backed Genocide Network this spring advocated that returning IS foreign fighters should be charged with war crimes under international law such as genocide or crimes against humanity in addition to whatever terrorism charges they may face at home.

As of May, some 2,000 fighters were still detained by Syrian forces and another 1,000 were in detention in Iraq, many of them European citizens mainly from France, Britain and Germany.

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US charges citizen with providing support to IS - Macau Business