Information from the Statistics and Census Service shows that inward direct investment flows into Macao jumped by 167.8 percent year-on-year to MOP 53.99 billion ($6.7 billion) in 2019. Analysed by industry, inflows of direct investment in the Gaming sector and Financial Activities totalled MOP 43.31 billion and MOP 8.52 billion respectively.
Caesars Entertainment, Inc. said it agreed to sell Tropicana Evansville to Gaming and Leisure Properties and Twin River Worldwide Holdings for US$480 million in cash, subject to a customary working capital adjustment.
Aquis Entertainment said its operating cash flow in the recent quarter was positive and although visitation is down, business is strong. It has now also recalled most of the staff laid off during the Covid-19-mandated closures.
Bank of America has expressed doubts about Las Vegas Sands' ability to offload its casino assets given a dearth of potential buyers due to the pandemic. The bank says there is a very small pool of buyers able to make a $6 billion acquisition and at the moment access to capital market finance is also less favourable.
Macau, which last year was given a strong bill of health when it comes to efforts to combat money laundering and financial crimes, has taken further action by signing an AML risk assessment accord with a unit of the World Bank.