AGP Executive Report
Last update: 8 hours agoMacau Gaming: Macau’s casinos posted June gross gaming revenue of MOP18.52 billion, down 12.1% year-on-year and 18.1% month-on-month, with analysts pointing to the FIFA World Cup pulling discretionary spend away from the city. Tourism & Culture: The 3rd Macao International Children’s Arts Festival opens July 3 with “Erth’s Dinosaur Zoo,” a Giant Puppetry x Science show at the Macao Cultural Centre. Urban Renewal Policy: The government is exploring land premium adjustments and possible tax incentives to make urban renewal more financially workable, while lawmakers push for easing ownership and condo repair procedures. Real Estate: Centaline reports weaker first-half activity in Macau’s housing market, with fewer transactions and tighter credit, and notes leasing performance is uneven, with tourist areas stronger. Tech & Industry Building: Macau inaugurated the Macao International Science and Technology Industry Centre as a pilot platform to help form a tech cluster ahead of the planned science and technology park. Biopharma Deal: Junshi Biosciences signed a licensing collaboration with Fosun Wanbang for roconkibart (anti-IL-17A) across Greater China, including Macau. Hospitality Business: MGM China agreed to buy full ownership of its mainland hotel management arm for $20m, aiming to expand beyond Macau. Insurance Appointments: Manulife named Lilian Ng as an independent non-executive director and appointed new marketing chiefs for Hong Kong and Macau.
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