Macau’s finance minister has resigned over “personal reasons,” prompting the city’s chief executive to temporarily assume his duties until a new candidate is appointed. The cabinet change took effect on Thursday after China’s State Council approved the removal of Tai Kin-ip from the post of secretary for economy and finance, in accordance with Macau’s Basic…
Three gaming concession holders in Macau will shut down 11 satellite casinos by the end of this year, when a three-year transition period for amended legislation is set to expire, with about 6,000 employees affected. Macau authorities announced on Monday that they had officially been notified by SJM Resorts, Melco Resorts (Macau) and Galaxy Casino…
Macau’s licensed integrated resorts will emerge stronger with the closure of 11 satellite casinos in the city, as gambling activities are expected to shift to the casinos’ main properties and bolster their profit margins, according to analysts. The shares of the three casino operators affected by the move advanced after the closures were announced on…