Tag Archives: francis tam

Macau casino operators fear possible cap on number of electronic table games
January 10, 2014
Fresh off yet another record revenue year, Macau has reportedly started 2014 on a roll. With the Chimelong Ocean Kingdom theme park set to open on nearby Hengqin Island, analysts expect Macau’s casinos will welcome at least part of the additional tourist influx, possibly pushing January’s monthly revenue tally up...
“Significant doubt” over junket operator Amax Holdings’ ability to carry on
August 4, 2013
Troubled Macau junket operator Amax Holdings has admitted it has “significant doubt about the group’s ability to continue as a going concern.” The admission came in the Hong Kong-listed company’s annual report, which revealed a loss of HKD 39.4m (US $5m) for the 12 months ending March 31, 2013. As...
Macau publishes casino sub-license contracts to quiet protesters
July 26, 2013
The government of Macau has published contracts involving the Asian gaming hub’s casino licensees after local activists raised questions about the licensees’ sub-licensing deals. The kerfuffle began earlier this week when New Macau Association president Jason Chao challenged the government’s assertion that Macau had but three casino concessionaires. Technically, Macau...
Macau vows to “purify” gaming industry through stricter examination of junkets
February 7, 2013
Macau’s government has felt it necessary to do its bit to arrest the frantic selloff of casino stocks that followed reports of an imminent crackdown on junket operators by authorities in Beijing. While not addressing the issue specifically, the government website posted a statement to the effect that Macau will...
Macau daily gambling news
May 28, 2012
Government voices have joined analysts with a modest outlook for Macau’s gambling industry for the remainder of 2012. Macau Business quote Francis Tam Pak Yuen, secretary for economy and finance, as stating monthly revenue is likely to average out at MOP20 billion (US$2.5 billion) for 2012. Tam said: “Looking back...