Tag Archives: Francis Tam Pak Yuen
- MGM China braces for labor protest; casinos brace for Sept. revenue figures
October 3, 2014
Macau casino workers are planning a job action against MGM Resorts on Friday, just as the world’s top gaming hub is enjoying increased visitation from Golden Week holiday gamblers. Wu Jian, an organizer with casino workers association Forefront of Macau Gaming (FMG), told Reuters that hundreds of dealers at MGM...
- Macau casino revenue declines for second straight month, analysts say don’t panic
August 1, 2014
Macau casinos suffered their second straight month of gaming revenue decline in June as the world’s top gambling hub struggles to regain its footing. Gaming revenue at Macau’s 35 casinos fell 3.6% year-on-year to MOP 28.4b (US $3.56b). June’s 3.7% decline marked the first time in four years that Macau...
- Macau’s top finance official says no new casino permits until 2025
June 3, 2014
Casino operator Melco Crown Entertainment (MCE) has boosted the budget to complete its new Studio City property on Macau’s Cotai Strip by $300m. MCE made the announcement in a filing with the US Securities and Exchange Commission on Tuesday. The increase amounts to 15% of Studio City’s planned budget, bringing...
- Chinese official clarifies crackdown on UnionPay swiping devices, more arrests made by local police
May 19, 2014
Macau's Secretary for the Economy and Finance Francis Tam Pak Yuen has clarified earlier reports that Macau casinos have been given a July 1 deadline to get rid of their illegal UnionPay debit-card mobile swiping devices. Speaking with Macau Business Daily, the top financial official in the territory said measures...
- Macau exec hints at future of Macau’s gaming licensees after 2020
March 11, 2014
If Macau’s Secretary for Economy and Finance Francis Tam Pak Yuen had his way, there won't be any increase in the number of casino operators, be it concessionaires or sub-concessionaires, allowed in the city's gaming market when the current concessions expire in 2020 and 2022. Currently, six gaming concessionaires have...
- Macau VIPs earn record low share of casino gaming revenue in January
February 16, 2014
High rollers rolled an all-time low percentage of Macau’s overall casino gaming revenue in January. Macau’s VIP gamblers traditionally account for between 65% to 70% of gaming revenue but January’s figure hit a record low of 60.6%. Telsey Advisory Group analyst Christopher E. Jones says January’s proportional decline is likely...
Dragon Corp. wants to bring blockchain to Macau’s casino floors
September 25, 2017
Parisian Macao battling Legionnaires’ Disease outbreak
April 25, 2017
Macau night spots to hit when you’re not gambling
April 2, 2014