Macau http://www.globalpost.com/taxonomy/term/29023/all en Hong Kong shares close flat, but eke out weekly gain http://www.globalpost.com/dispatch/news/thomson-reuters/130201/hong-kong-shares-close-flat-eke-out-weekly-gain <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>HONG KONG, Feb 1 (Reuters) - Hong Kong shares eked out a gain for the week after an afternoon surge in the mainland Chinese market helped pare Friday losses rooted in how an official survey of manufacturing activity in China lagged expectations.</p> <p>The Hang Seng Index closed flat at 23,721.8 on Friday but inched up 0.6 percent on the week. The China Enterprises Index of the top Chinese listings in Hong Kong gained 0.7 percent on Friday and 1.8 percent this week.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130201/hong-kong-shares-close-flat-eke-out-weekly-gain" target="_blank">read more</a></p> Asia Business Entertainment Macau Pearl River Delta Thomson Reuters Fri, 01 Feb 2013 08:30:37 +0000 Thomson Reuters 5742661 at http://www.globalpost.com SJM Holdings 2012 annual results up 27% http://www.globalpost.com/dispatch/news/afp/130227/sjm-holdings-2012-annual-results-27 <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Casino operator SJM Holdings, owned by Hong Kong tycoon Stanley Ho, said Wednesday its annual net profit increased 27.1 percent last year thanks to its leading share in the Macau gaming market.</p> <p>SJM, in a filing to the Hong Kong stock exchange, said its net profit rose to a record HK$6.75 billion ($870.1 million) for calendar 2012 compared to HK$5.31 billion the previous year.</p> <p>Revenue rose by 4.5 percent to HK$78.88 billion from HK$75.51 billion in 2011, while its earnings before interest, taxes, depreciation and amortisation (EBITDA) grew 10.1 percent to HK$7.631 billion.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130227/sjm-holdings-2012-annual-results-27" target="_blank">read more</a></p> Business Concelho das Ilhas Macau SJM Holdings Tourism in Macau AFP Wed, 27 Feb 2013 13:16:11 +0000 Agence France-Presse 5768427 at http://www.globalpost.com Former Macau casino dealer gambles on years-long bike trip http://www.globalpost.com/dispatch/news/thomson-reuters/130307/former-macau-casino-dealer-gambles-years-long-bike-trip <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>By Farah Master</p> <p>Hong Kong, March 7 (Reuters) - Born in Macau, the world's largest gambling hub now awash with investment, Tyler Kuan could easily have been complacent about life. Instead, he wants to go to London and back - on a bicycle equipped with a fold-out tent and only a handful of funds.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130307/former-macau-casino-dealer-gambles-years-long-bike-trip" target="_blank">read more</a></p> Asia Hospitality Labor Macau Pearl River Delta Tyler Kuan Thomson Reuters Thu, 07 Mar 2013 05:45:32 +0000 Thomson Reuters 5775741 at http://www.globalpost.com Philippines opens bid to join global gambling elite http://www.globalpost.com/dispatch/news/afp/130313/philippines-opens-bid-join-global-gambling-elite <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>The Philippines makes its biggest bet this weekend in a high-stakes bid to join the world's elite gaming destinations, with the launch of a $1.2-billion casino on Manila Bay.</p> <p>Solaire Manila Resorts is the first of four enormous entertainment venues slated to rise over a giant chunk of prime, reclaimed land that industry and government leaders expect will attract millions of cashed-up Asian tourists.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130313/philippines-opens-bid-join-global-gambling-elite" target="_blank">read more</a></p> Asia Labor Macau AFP Wed, 13 Mar 2013 06:15:03 +0000 Agence France-Presse 5781976 at http://www.globalpost.com CORRECTED: Philippines opens bid to join global gambling elite http://www.globalpost.com/dispatch/news/afp/130313/corrected-philippines-opens-bid-join-global-gambling-elite <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>The Philippines makes its biggest bet this weekend in a high-stakes bid to join the world's elite gaming destinations, with the launch of a $1.2-billion casino on Manila Bay.</p> <p>Solaire Manila Resorts is the first of four enormous entertainment venues slated to rise over a giant chunk of prime, reclaimed land that industry and government leaders expect will attract millions of cashed-up Asian tourists.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130313/corrected-philippines-opens-bid-join-global-gambling-elite" target="_blank">read more</a></p> Asia Labor Macau AFP Wed, 13 Mar 2013 11:45:31 +0000 Agence France-Presse 5782127 at http://www.globalpost.com Macau lawyer says broad daylight assault in Chinese gambling haven an attempt to intimidate http://www.globalpost.com/dispatch/news/the-canadian-press/130520/macau-lawyer-says-broad-daylight-assault-chinese-gambling-ha <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> The Canadian Press </div> </div> </div> <!--paging_filter--><p>HONG KONG - A Macau lawyer assaulted in broad daylight in the Chinese gambling haven said Monday the attack was an attempt to intimidate him.</p> <p>Jorge Menezes said the two assailants used bricks to bash him on the head before fleeing in last week's attack, which recalled the former Portuguese colony's shady past when Chinese organized crime gangs known as "triads" fought for control of lucrative casino VIP rooms. Macau largely shed its reputation for triad violence as it grew into the world's biggest gambling market.</p> <p><a href="http://www.globalpost.com/dispatch/news/the-canadian-press/130520/macau-lawyer-says-broad-daylight-assault-chinese-gambling-ha" target="_blank">read more</a></p> Macau Pearl River Delta The Canadian Press Mon, 20 May 2013 08:30:05 +0000 The Canadian Press 5841787 at http://www.globalpost.com Macau hosts Asia's largest gaming expo http://www.globalpost.com/dispatch/news/afp/130521/macau-hosts-asias-largest-gaming-expo <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Casino industry leaders met in the world's biggest gambling hub of Macau on Tuesday for the Global Gaming Expo Asia, a three-day fair of gambling innovations at the glitzy Venetian Macau hotel.</p> <p>The largest gaming event in Asia, showcasing the industry's latest products, services and technologies, opens to the public on Wednesday with machine companies focusing on Asian content.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2013.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/afp/130521/macau-hosts-asias-largest-gaming-expo" target="_blank">read more</a></p> Asia Business Macau Technology Tourism in Macau AFP Tue, 21 May 2013 10:01:36 +0000 Agence France-Presse 5842700 at http://www.globalpost.com US panel urges tighter scrutiny of casino companies in Macau over money laundering fears http://www.globalpost.com/dispatch/news/the-canadian-press/130628/us-panel-urges-tighter-scrutiny-casino-companies-macau-over- <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> The Canadian Press </div> </div> </div> <!--paging_filter--><p>HONG KONG - Members of a congressional advisory panel believe U.S. regulators should tighten scrutiny of casino companies operating in Macau, the world's top gambling market, because of the risk of money laundering.</p> <p>"We need to go deeper into this," said Michael Wessel, a member of the U.S.-China Economic and Security Review Commission, which heard testimony in Washington on Thursday.</p> <p>"I'm not sure the companies are looking as deep as they need to in their own organizations and the profits are driving their activities. It's worth some stricter scrutiny."</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.globalpost.com/terms-use#cp">Copyright 2013 Canadian Press.</a></p> <p>All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.</p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/the-canadian-press/130628/us-panel-urges-tighter-scrutiny-casino-companies-macau-over-" target="_blank">read more</a></p> Macau Technology Tourism in Macau The Canadian Press Fri, 28 Jun 2013 08:31:37 +0000 The Canadian Press 5870134 at http://www.globalpost.com Mining titans, movie moguls: Macau's junket operators branch out http://www.globalpost.com/dispatch/news/thomson-reuters/130701/mining-titans-movie-moguls-macaus-junket-operators-branch-out <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>By Farah Master</p> <p>MACAU (Reuters) - When junket operator Suncity opened its first high roller baccarat table at Steve Wynn's Macau casino in 2007 to lure China's wealthiest punters, the firm had fewer than 30 employees and no computers or equipment other than pen and paper.</p> <p>Five years later, Suncity has emerged as the dominant junket in the Chinese territory. It is planning to open its own resort, independent of casino stalwarts such as Las Vegas Sands, and is expanding into everything from mining to films.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://thomsonreuters.com" class="button wire reuters"></a></p> <p><span>Copyright Thomson Reuters, 2013.</span></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130701/mining-titans-movie-moguls-macaus-junket-operators-branch-out" target="_blank">read more</a></p> Asia Business Labor Law Macau Politics Technology Thomson Reuters Mon, 01 Jul 2013 17:05:32 +0000 Thomson Reuters 5872710 at http://www.globalpost.com Macau mogul hopes dinosaurs trump volcanoes in new casino resort http://www.globalpost.com/dispatch/news/thomson-reuters/130730/macau-mogul-hopes-dinosaurs-trump-volcanoes-new-casino-resort <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>By Farah Master</p> <p>MACAU (Reuters) - Macau tycoon David Chow is ripping up the fake volcano and Roman amphitheatre that were the show pieces of a failed theme park he built in the Chinese gaming enclave seven years ago.</p> <p>He is replacing them with something a little less kitsch and more in keeping with the neighborhood: a casino resort boasting an opera house and dinosaur museum that he hopes will return him to the spotlight of the world's largest gambling hub.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://thomsonreuters.com" class="button wire reuters"></a></p> <p><span>Copyright Thomson Reuters, 2013.</span></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130730/macau-mogul-hopes-dinosaurs-trump-volcanoes-new-casino-resort" target="_blank">read more</a></p> Casinos in Macau David Chow Geography of Macau Macau Technology Thomson Reuters Tue, 30 Jul 2013 23:35:44 +0000 Thomson Reuters 5898276 at http://www.globalpost.com Macau casinos bet on China's rising middle class http://www.globalpost.com/dispatch/news/thomson-reuters/130808/macau-casinos-bet-chinas-rising-middle-class <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>By Farah Master</p> <p>HONG KONG (Reuters) - The game is changing for casinos in Macau, the world's gambling capital, as fun-seeking middle-class Chinese visitors follow high-roller VIP gamblers in ever greater numbers to try their luck in the only place in China where casinos are legal.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://thomsonreuters.com" class="button wire reuters"></a></p> <p><span>Copyright Thomson Reuters, 2013.</span></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130808/macau-casinos-bet-chinas-rising-middle-class" target="_blank">read more</a></p> Business Economy of Macau Macau Social Issues Technology Tourism in Macau Thomson Reuters Thu, 08 Aug 2013 07:03:37 +0000 Thomson Reuters 5905199 at http://www.globalpost.com Caesars sells $438 million Macau golf course to Pearl Dynasty http://www.globalpost.com/dispatch/news/thomson-reuters/130810/caesars-sells-438-million-macau-golf-course-pearl-dynasty <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>HONG KONG (Reuters) - U.S. casino operator Caesars Entertainment &lt;CZR.O&gt; has agreed to sell a golf course in Macau to Pearl Dynasty Investment Ltd for $438 million, effectively giving up on its wait for casino operating rights in the Chinese gaming enclave.</p> <p>The Las Vegas-based company said on Friday it plans to use proceeds to fund other capital expenditures or repurchase debt obligations, according to a filing to the U.S. Securities and Exchange Commission. It did not comment further.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://thomsonreuters.com" class="button wire reuters"></a></p> <p><span>Copyright Thomson Reuters, 2013.</span></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130810/caesars-sells-438-million-macau-golf-course-pearl-dynasty" target="_blank">read more</a></p> Asia Macau Tourism in Macau Thomson Reuters Sat, 10 Aug 2013 09:03:47 +0000 Thomson Reuters 5906776 at http://www.globalpost.com Versace signs deal to build hotel at casino resort in Asian gambling hub Macau http://www.globalpost.com/dispatch/news/the-canadian-press/130820/versace-signs-deal-build-hotel-at-casino-resort-asian-gambli <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> The Canadian Press </div> </div> </div> <!--paging_filter--><p>HONG KONG - Italian fashion house Versace says it has signed a deal to build a luxury hotel at a casino-resort in Macau, the world's top gambling market.</p> <p>Versace and Macau casino operator SJM said in a joint statement Tuesday that the Palazzo Versace hotel will be part of the resort SJM is building in the former Portuguese colony.</p> <p>SJM, founded by billionaire Stanley Ho, received official approval in May to build a 2,000-room resort with 700 gambling tables.</p> <p>It will be SJM's first resort on the Cotai Strip, modeled as Asia's version of the Las Vegas Strip.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.globalpost.com/terms-use#cp">Copyright 2013 Canadian Press.</a></p> <p>All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.</p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/the-canadian-press/130820/versace-signs-deal-build-hotel-at-casino-resort-asian-gambli" target="_blank">read more</a></p> Concelho das Ilhas Geography of Macau Macau The Canadian Press Tue, 20 Aug 2013 11:15:54 +0000 The Canadian Press 5913556 at http://www.globalpost.com Gambling queen Pansy Ho primes business empire for a new Macau http://www.globalpost.com/dispatch/news/thomson-reuters/130823/gambling-queen-pansy-ho-primes-business-empire-new-macau <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>By Farah Master</p> <p>HONG KONG (Reuters) - Pansy Ho, Hong Kong's richest woman and the daughter of Macau gambling godfather Stanley Ho, is lining up her chips for a new era in the world's casino capital that promises much more than gambling.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://thomsonreuters.com" class="button wire reuters"></a></p> <p><span>Copyright Thomson Reuters, 2013.</span></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130823/gambling-queen-pansy-ho-primes-business-empire-new-macau" target="_blank">read more</a></p> Casinos in Macau Hong Kong Macau Pansy Ho Technology Thomson Reuters Fri, 23 Aug 2013 12:45:57 +0000 Thomson Reuters 5916093 at http://www.globalpost.com Democrats lose out in Macau elections http://www.globalpost.com/dispatch/news/afp/130916/democrats-lose-out-macau-elections <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Casino bosses and pro-Beijing candidates dominated poll results in the Chinese gambling enclave of Macau, with democrats conceding defeat on Monday.</p> <p>Sunday's polls were marred by reports of perks offered to voters during last-minute campaigning in a city which has been transformed by the gambling industry.</p> <p>Macau is now the world's biggest casino capital, overtaking Las Vegas in revenues and employing some 23 percent of the total workforce.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2013.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/afp/130916/democrats-lose-out-macau-elections" target="_blank">read more</a></p> Labor Law Macau New Democratic Macau Association Pearl River Delta Politics AFP Mon, 16 Sep 2013 06:48:40 +0000 Agence France-Presse 5935287 at http://www.globalpost.com