Casino operator SJM Holdings booked a first-half net profit of $202 million, four times higher than for the same time last year. According to a filing with the Hong Kong Stock Exchange, SJM saw a doubling in revenue from high-stakes gamblers to $2.27 billion, with the number of VIP tables increasing to 464 from 320 [...]
The People’s Bank of China (PBoC) has launched a pilot project to allow more foreign participation in the country’s largely closed domestic interbank bond market. Foreign central banks, lenders in Hong Kong and Macau that already conduct renminbi clearing and overseas banks that participate in the cross-border trade settlement scheme will be permitted to trade [...]
Galaxy Entertainment Group has concluded its financing plan for its $1.82 billion flagship casino resort in Macau. The company had come under some scrutiny after it missed its end-2009 deadline for announcing its financing plan for Galaxy Macau. One of six companies licensed to operate casinos in Macau, Galaxy delayed its project in Cotai in [...]
The world’s third-largest aircraft manufacturer, Embraer, said the mainland will need a further 883 regional aircraft over the next 20 years. “China has an undeveloped market for regional and corporate jets given that they account for just a fraction of the total number of aircraft in the country,” Embraer vice president Guan Dongyuan told reporters [...]
The number of Chinese tourists visiting certain Asia-Pacific destinations fell by more than 20% in August. Although the Olympics has been blamed for encouraging more people to stay home and watch television, the slowdown has sparked fears about the prospects for the travel industry, which is already expected to be hit badly by the global [...]
China’s new limits on mainlander visits to Macau have contributed to a drop in profits at the Wynn Macau, a major resort and casino. Preliminary results released by the company show a drop of at least 38.8% in the third quarter from the previous three months. Wynn Resorts estimated operating income at its Macau property [...]
