Macau Recent IR Openings<\/strong><\/p>\nAugust 2016: Wynn Palace – $2.5B<\/p>\n
September 2016: Parisian – $2.5B<\/p>\n
February 2018: MGM Cotai – $3.4B<\/p>\n
June 2018: Morpheus – $1.1B<\/p>\n
September 2018: The 13 – $1.4B<\/p>\n<\/div>\n
One project that is still in construction is the $4.6 billion Grand Lisboa Palace being built by SJM Holdings. The casino resort is the company’s first investment on the Cotai Strip, which is now where the enclave’s high rollers venture to gamble.<\/p>\n
All six casino license holders will see their concession expire in 2022. All six are expected to be granted new permits, but under what conditions isn’t known.<\/p>\n
It’s largely thought that the Macau government will issue incentives that encourage the casino giants to invest in more non-gaming initiatives. The goal is to lessen the enclave’s reliance on gaming, which accounts for around 90 percent of the SAR’s tax revenue.<\/strong><\/p>\nLongtime Macau politician Ho Iat Seng is set to become the next chief executive of the enclave on Dec. 20.<\/p>\n","protected":false},"excerpt":{"rendered":"
Macau is amid a recession after economic data from the enclave’s Statistics and Census Bureau revealed that its gross domestic product declined for the second straight quarter. The Macau economy contracted 1.8 percent in the second quarter. That followed a 3.2 percent drop in quarter one. Through the first six months of 2019, the Special […]<\/p>\n","protected":false},"author":25,"featured_media":113004,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,33810],"tags":[],"acf":[],"yoast_head":"\n
Macau Recession to Last Through 2019, Casinos Impacted by Constriction<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n