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ISSUE 96 - Apr 2012
 
 
What are your expectations for the gross gaming revenue growth of Macau’s gaming industry in 2012?
Decline
Growth above 20 percent
Growth from 10 to 20 percent
Stagnation
 
 

Cash handout likely in 2012


Posted: 11/8/2011 4:33:22 PM
Rating:     0% ( votes)
  

Chief executive tells influential Macau General Neighbourhood Unions Association’s leaders

The government is likely to keep the cash handout scheme for next year.

Leong Heng Teng, from the Macau General Neighbourhood Unions Association, broke the news after a meeting with chief executive Fernando Chui Sai On.

According to Mr Leong, Mr Chui hinted the cash handout scheme would be kept for next year.

The so-called wealth distribution scheme started in 2008.

This year the government handed out MOP4,000 to every permanent resident and MOP2,400 to every non-permanent resident in the first half of the year.

As inflation soared, the government eventually pushed ahead with an unprecedented second cash handout, although the amount given was 25 percent less.



Other Macau Latest News

More than just gaming

MGM is still waiting for Cotai approval, but Grant Bowie reiterates that it will go beyond just gaming

Okada on ‘fishing expedition’

Wynn’s lawyers accuse the Japanese businessman of trying to find improper acts, which they say never happened

Galaxy to sponsor volleyball tournament

The gaming operator is again backing the Macau stage of the FIVB Volleyball World Grand Prix

New border crossing could drive up shop prices

Property experts say prices in Ilha Verde area could go up 10-fold
Headlines

Sands China renews Edward Tracy’s contract

The company’s president and CEO has had his contract extended until August next year

Studio City to receive casino approval “soon”: report

Gov’t authorisation is “just a formality”, English-language newspaper Business Daily reports

Worrying signals

Less informal lending in Wenzhou may lead to VIP slowdown in Macau’s casinos, says Macquarie

Steve Wynn explains Tien Chiao deal

The casino mogul dismisses rumours about connections between Tien Chiao and any government officials

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1. Galaxy closes in on SJM market leadership
2. Steve Wynn wants to start works in Cotai “before June”
3. Studio City to receive casino approval “soon”: report
4. Macau casinos take in MOP25 billion in April
5. U.S. company now Wynn Resorts’ biggest shareholder
 
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