Alice, 24, is the daughter of Ho and his fourth wife Angela Leong.

Her fathers only unmarried daughter, she is the youngest of Hos 17 children.

Her life has been novel-like since the beginning, as both of her parents are extremely rich and powerful. In 2019, Forbes estimated Leongs net worth to be around $4.1 billion, which mainly came from real estate trading. Leong is also the only billionaire among Hos four wives.

Alice Ho when she was a child. Photo from Mario Hos Instagram

Despite her background, Ho didnt take her academic performance lightly. During her school years, she was always at the top of her class and achieved a 9A+ in her GCSE examination at the end of high school.

At age 18, Ho was accepted to the United Kingdoms prestigious Cambridge University, which she turned down to attend the renowned Massachusetts Institute of Technology (MIT) in the United States instead.

Her major was Mathematics with Computer Science. She completed her four-year undergraduate course in only three years. During her first years in university, she joined companies including Jardine Matheson Holdings Limited and Ernst & Young as an intern.

Ho also founded the Finance Club at MIT and took on projects that assisted in facilitating cooperation between China and the United States.

Before graduating from MIT, Ho was admitted to the Schwarzman College of Tsinghua University, the top university in China. She is fluent in Chinese, English, Cantonese, Japanese and French.

Advertising

Alice Ho attends the 2020 Tatler Ball on December 6, 2020 in Shanghai, China. Photo from DramaTalk Weibo

Speaking to the Hong Kong media, Ho once said: "I have to put effort into my studies because I was born into a rich family. That is the only way for me to prove my own ability."

But the young woman not only performed well in her studies, she also won third prize at the Hong Kong Athletics Championship, and thrived in other extracurricular activities as well. At age 11, she played violin with the Hong Kong Orchestra. As an actress, she starred in several movies and TV series.

According to the media, Ho was adored by her late father when he was alive. HK01 reported that Stanley Ho gifted Alice a Rolls Royce on her seventh birthday. When she turned 13, her father gave her a real estate property in the United Kingdom worth millions of Hong Kong dollars.

After turning 17, Ho was given four other real estate properties by her mother so she could learn how to operate in the real estate business.

According to estimations from the media, Hos net worth is currently around HKD 700 million (over $89.3 million). She lives in a luxurious apartment and often travels in her private helicopter.

Despite that, she leads a quiet life compared to her 16 siblings. Her social media accounts are private, and she doesnt frequently share about her luxurious lifestyle.

The majority of her public photos are posted by her brother Mario Ho and her close friends including Huawei heiress Annabel Yao and Sanpower heiress Donna Yuan.

View post:

Macau casino heiress had to prove herself - VnExpress International

Chinas National Immigration Administration has announced that, from next Monday 15 May, residents of mainland China who are planning to visit Macau or Hong Kong as part of a tour group will no longer be restricted to visa applications within their home city.

Beijing relaxed most restrictions on group tours to Macau for mainland residents on 6 February, with the caveat that anyone applying for group tour visas was required to do so from their local area.

However, requirements are now set to return to their pre-COVID status with residents to be permitted to apply at any of Chinas public security offices nationwide. This will benefit those working in different provinces who wish to apply to join group tours to Macau.

Mainland residents can apply for entry to Macau from anywhere in the country on behalf of visiting relatives, or for the purposes of working, studying, medical treatment, litigation, the handling of property matters, and more.

In addition, the National Immigration Administration has fully restored expedited customs clearance at ports of entry, which will follow the pre-pandemic practice and standard requirements.

The express channel at ports will be open to Chinese citizens holding standard mainland passports, Exit and Entry permits to Hong Kong and Macau or Exit and Entry permit to Taiwan. It will also be available for residents of Hong Kong, Macau and Taiwan holding Exit and Entry permits to the mainland, and to certain qualified foreigners.

Mainland residents can apply for entry to Macau for visiting relatives, working, studying, as well as for medical treatment, litigation, and handling property matters, etc. They can also apply at any public security authorities in China and are no longer restricted to their domicile.

Go here to read the rest:

Mainland China to drop last remaining restrictions on visa applications for group tours to Macau and Hong Kong - Inside Asian Gaming

The Chinese National Immigration Administration announced on Thursday that it would further optimize the policies for entry and exit management, effective from May 15.

The adjustment intends to facilitate the entry and exit of Chinese and foreigners.

Q: What documents are required for Chinese mainland residents to apply for a permit for group tourism to Hong Kong and Macau after the policy adjustment?

A: From May 15, mainland residents can submit their application for a permit for group tour to Hong Kong and Macau to any exit-entry service bureaus across the country, without any additional documents. If they do not hold a travel permit to and from Hong Kong and Macau or if the permit is expired or invalid, they can submit the application to any exit-entry service bureaus across the country with their ID cards.

Q: How long does it take to process a permit for group tourism?

A: From May 15, mainland residents can use the intelligent visa equipment set up at any exit-entry service bureaus across the country to apply for a permit for group tours to Hong Kong and Macau. If the application is approved, the permit can be obtained immediately. If not, the applicant needs to apply in person at a window and can obtain the permit within 20 days after approval.

Q: Which travel documents can be applied for nationwide after the policy adjustment?

A: From May 15, mainland residents can apply for a passport, a travel permit to and from Hong Kong and Macau, and four types of permits to Hong Kong or Macau, including visiting relatives, group tourism, short stay and other purposes, as well as a travel permit to and from Taiwan, at any exit-entry service bureaus across the country.

Q: Which relatives in Hong Kong and Macau can I apply for a permit for visiting relatives?

A: Mainland residents can apply for a permit to visit their relatives who have settled there or are long-term residents, are studying, or are working in Hong Kong or Macau. The scope of relatives includes spouses, parents, parents-in-law, children, children's spouses, siblings, grandparents and grandchildren.

Q: Who can apply for a permit for a short stay in Hong Kong and Macau?

A: Mainland residents who have been approved by the relevant departments of Hong Kong to work, study, reside, or train in Hong Kong or to join their relatives in Hong Kong as dependents, or those who have been approved by the relevant departments of Macau to work or study in Macau, or relatives of employees approved by the relevant departments of Macau to work, can apply for a permit for a short stay in Hong Kong and Macau.

Q: Who can apply for other types of permits to Hong Kong and Macau?

A: Mainland residents who apply to go to Hong Kong or Macau for special reasons such as medical treatment, litigation, property handling, examinations, academic exchanges, visiting critically ill relatives, or attending funerals can apply for other types of permits to Hong Kong and Macau.

Q: What changes have been made to the permit for mainland students studying in Macau?

A: From May 15, the exit-entry service center will issue a stay permit that is valid for the same duration as the study period stated in the "Confirmation of Enrollment" issued by the Macau education authorities.

Q: Who can use the fast-track passages for border clearance?

A: From May 15, Chinese citizens holding regular passports of the People's Republic of China, travel permits to and from Hong Kong and Macau, travel permits to and from Taiwan, mainland travel permits for Hong Kong and Macau residents, mainland travel permits for Taiwan residents (valid for 5 years), and multiple-entry permits for entering and exiting the country with a validity of one year or more; foreigners holding foreign passports and permanent residence permits, electronic passports, and with a residency permit of at least 6 months; Chinese crew members working on regular international flights and foreign crew members who are eligible for visa exemption or have obtained flight attendant visas or residence permits for one year or more can use the fast-track passages for border clearance.

Go here to see the original:

China further optimizes policies for entry and exit - SHINE News

Hes been one of the biggest supporters of the interport series throughout its nearly two-decade existence, and Joe Lau will be front and centre on Saturday when the Hong Kong Macau Trophy returns to Sha Tin for the first time since 2019.

An annual fixture before its Covid-enforced hiatus, the two-leg series has been the source of some of the highest highs and the lowest lows of Laus 30-year Macau training career.

He swept the very first edition back in 2004, winning at Sha Tin and Taipa with Crowns Gift, and again thought he had completed the sweep in 2007 before Crowns Master returned a positive swab following his victory in Hong Kong.

The good memories first, and Lau admits theyre as vivid as ever as he recalls showing up to Sha Tin for the first time and taking out the first-ever Hong Kong Macau Trophy with $28 outsider Crowns Gift, seeing off John Size-trained pair Gift and River Dancer.

Theyre great memories. It all seems like yesterday, put it that way, said a reflective Lau after working his runner in this years contest Star Of Yiu Cheung at Sha Tin on Wednesday morning.

Today, walking down and taking the horse onto the track brought back a lot of good memories about winning the first race there.

The first one, everything was new, and I was still green coming into a new place. Especially somewhere like Hong Kong, it was such a great feeling to bring a horse here. Then to win it, that made it so much more exciting. Sometimes you think its still a dream.

It boosted my confidence and gave me a lot of courage to bring more horses over in time. Im lucky I had good owners who were willing to bring horses over.

One of those horses was Crowns Master, who beat the Hong Kong gallopers in Macau before doubling down at Sha Tin three weeks later.

But nine days after completing what Lau thought was another sweep, a post-race blood sample taken from Crowns Master came back containing the banned substance 17-alpha-hydroxyprogesterone hexanoate.

Crowns Master was treated with this substance by the veterinary department here at the Macau Jockey Club around two months ago. They told me it would assist his recovery and fully clear his system in two weeks, Lau told the Post in 2007.

Now, Laus summary of the incident is simple: I was surprised that was probably the biggest disappointment in my life.

This weekend, Lau gets the chance to add to his series CV which also includes a victory with Clown Master in 2011 with a horse he wishes he could have bought to Hong Kong earlier.

Now a seven-year-old, Star Of Yiu Cheung must lump top weight of 135 pounds after 15 victories in Macau. While the Jockey Club reported on Wednesday that the gelding developed an elevated temperature with an associated blood abnormality last week, the galloper is free to race and Lau is happy with his condition.

Hes got to carry the grandstand and give weight to the Hong Kong horses, which is never easy to do, but his rating is that high in Macau, so it is what it is. But hes in good nick, so fingers crossed he puts up a good performance, said Lau, who was last in Hong Kong with Sacred Capital for the 2020 Group Three Centenary Vase (1,800m).

Its just good to be back. I love being involved. Any trainer who has a horse who is good enough to come to Hong Kong would come. The Sha Tin track is a lovely galloping track. Its got lovely grass coverage and its a wide track with a long straight. Its like going away for a holiday.

Comments

See the original post here:

Dreams and disappointments: Joe Laus HK-Macau interport series ups and downs - South China Morning Post

By Glenn McCartney

Associate Professor in Integrated Resort and Tourism Management, University of Macau

If you left Macau now and came back in 2033 what would it look like in terms of tourism development? It has been a theme in my last few keynote talks. I say 2033, as the current casino concession is for 10 years and would expire by then. A few of my presentation notes reflect on the much-discussed perspective of tourism product diversification in Macau, and the expansion of alternative forms of tourism beyond gaming. The government recently provided a special interest tourism product list in 10 areas when awarding the 6 new casino concessions in late 2022 these included healthcare, entertainment, conventions and exhibitions, sports events, culture and art, and themed amusements. The issue of expanding or editing tourism destination product and service choices to potential or current visitors is not new. It is a selection and tourism product mix challenge regularly presented regularly to tourism destinations globally as part of destination management. What do you keep and elevate attention to? What do you remove or place less emphasis? What do you create? What are the product choices and motives of a new generation of travelers? Whats the timeframe, resources, and policies required to realise on the product list vision? What are the communitys thoughts? The list goes on over the several strategic tourism product and service choices. And is the challenge similarly facing Macau today.

A key argument for tourism product diversification (and one applied to Macau too), is commonly an economic one, enabling a greater spread beyond one or a few tourism products, to participation and spending across tourism products. There are knock-on benefits including greater employment choices and upskilling, growth of SMEs and tourism innovation and entrepreneurs, sustainable and green tourism initiatives, as well as creating a city image more distinctive that appeals to wider leisure and business travel segments.

In the end, for tourist product selection and goals to be successful, they must increasingly link to the expectations and experiences of visitors, and potential visitors. Research is crucial to gather that data. The diversification vision for Macau includes attracting more visitors regional and internationally, but it is also a time of increasing global tourism competition, as tourism destinations contend for travel markets in the tourism recovery from COVID-19. In tourism marketing and customer decision-making we often refer to the push and pull factors, which are interconnected the pull factors of various natural, inherited, or built products, from forests, lakes, heritage, to fabricated settings such as The Cotai Strip of built products including casinos, events, retail, accommodation, entertainment and spas. The push factors are psychological to rest, relax, to escape from/to, social interaction, sense of adventure, or well-being. So essentially, that the tourism products deliver on this narrative and visitor expectation. The challenge of course is converting specific push and full factors into images and messages in tourism and hospitality marketing in a way that targeted traveler segments find believable and appealing and more distinctive than the choices presented by competing cities and destinations.

The awarding of the 6 new casino concessions and their commitment to invest over US$13 billion in total in non-gaming projects presents a window of opportunity to rethink and reposition for tourism development through public and private partnership, and to present the push and pull factors through a compelling Macau by 2033 communications strategy and especially as tourism recovery in Macau, regionally and globally, is now moving at a pace. The tourism product and service rollout taken at these initial phases now will naturally be part of determining what Macaus tourism looks like in 5 or 10 years.

Read this article:

OPINION - Macau by 2033 and the tourism diversification question - Macau Business

According to the deputy director of the Macao Government Tourism Office (MGTO), Hoi Io Meng, Macau welcomed an average of 3,600 foreign visitor arrivals in April an increase of more than 270% over January foreigner visitation figures.

Foreigners refers to anyone from outside of Greater China comprising the mainland, Hong Kong and Taiwan with the Macau government having promised concessionaires tax cuts of up to 5% on gross gaming revenues generated by foreign players as an incentive.

Speaking with media this week, Hoi Io Meng pointed out that the number of foreign visitors to Macau has been increasing on a monthly basis, with the average daily number of foreign visitors to Macau rising from 977 in January to 1,574 in February and 2,115 in March, then to 3,630 in April, an increase of 271.6% over January.

Singapore, Malaysia and Thailand are the three main source markets for Macau among the Southeast Asian markets.

A total 3,065,513 foreign visitors entered Macau in 2019, with a daily average of approximately 8,398 visitors. Foreign visitors represented 7.8% of the 39,406,181 total visitor arrivals that year, at an average of almost 108,000 arrivals each day.

Hoi explained that the total number of visitors to Macau has now recovered to 62% of pre-pandemic levels.

The delegation, comprising members of the travel trade, were brought to Macau for four days from 9 to 13 May.

Through the industry operators direct experience in Macaus new travel elements, the MGTO hopes to spark Southeast Asians interest in Macau as a preferred destination and expand the diversity of international source markets, gaining new momentum for tourism and economic revival, the MGTO said.

The rest is here:

MGTO says foreign visitation to Macau on the rise in first months ... - Inside Asian Gaming

Enabling & Support

09/05/2023404 views20 likes

University teams from Bolivia and Macau have won experimental access to ESAs hypergravity-generating Large Diameter Centrifuge through the latest round of a research programme supported jointly by ESA and the United Nations Office of Outer Space Affairs, UNOOSA.

The second round of Fellowship Programme on the Large Diameter Centrifuge Hypergravity Experiment Series (HyperGES), saw access awarded to teams from Universidad Catlica Boliviana San Pablo in Bolivia and Macau University of Science and Technology of Macau, a special administrative region of China.

Both projects are related to life sciences, a field that benefits greatly from the opportunity to freely augment gravity levels. The project of Universidad Catlica Boliviana San Pablo, proposed by an all-female team, will examine the effect of hypergravity in the break-up of human red blood cells under strain to gain an improved understanding of anaemia in space. The team will also highlight the efforts of Bolivian women in the space field.

Macau University of Science and Technology will analyse the medical and biotechnological potential of fungi for future space exploration. Both teams aim to generate knowledge and help create solutions for sustainable development and human wellbeing.

Part of UNOOSAs Access to Space for All initiative, HyperGES allows selected teams to conduct hypergravity experiments at the Large Diameter Centrifuge (LDC) facility at ESAs European Space Research and Technology Centre, ESTEC, in the Netherlands.

This 8 m-diameter four-arm centrifuge gives researchers access to a range of hypergravity up to 20 times Earth gravity for weeks or months at a time. At its fastest, the centrifuge rotates at up to 67 revs per minute, with its six gondolas placed at different points along its arms weighing in at 130 kg, and each capable of accommodating 80 kg of payload.

Based within a scifi-style white dome, the LDC has been a place of pilgrimage for European researchers performing a wide range of physics, biology and materials experiments.

Head of ESAs ESTEC establishment and ESA Director of Technology, Engineering and Quality Dietmar Pilz said: Were grateful to UNOOSA for their work to widen access to our Large Diameter Centrifuge through the HyperGES fellowship for student teams worldwide. ESTEC is Europes centre of space research, equipped with more than 35 laboratories, including the LDC, which are traditionally available to European industry and academia as well as ESA projects. It is a good initiative to widen that access. The LDC has been in operation at ESTEC for more than 14 years now, but we are still scratching the surface of all the different kinds of hypergravity research that can be performed.

Academic Director from Universidad Catlica Boliviana "San Pablo" Dr. Yolanda Ferreira Arza said: "We are happy and proud that an idea that started as part of the cellular and molecular biology subject in the engineering department of our university is now becoming a research project at the international level.

We thank UNOOSA and ESA for giving the opportunity to the team members to enrich themselves with the life experience of doing experiments at the international level. As a university, receiving these incentives shows us that we are going in the right pathway. This team is an example for other students, as it shows that science can be done from the early stages of their studies and that the youngest ones can also contribute to their careers, to the university and to the country."

Associate Vice-President of Macau University of Science and Technology, Director of the State Key Laboratory of Lunar and Planetary Sciences, and Chair Professor KeKe Zhang added: "It is an honour for our institution to have the project HyperSpacEx Medical and Biotechnological Potential of Fungi in Hypergravity for Space Exploration awarded for the HyperGES. We are very grateful to UNOOSA and ESA for recognising the potential of our team and the relevance of the proposed work. This opens up the opportunity to develop new approaches for using fungi to support space exploration while helping to establish and develop the field of astromycology. Future missions will certainly benefit from results derived from this research.

Thank you for liking

You have already liked this page, you can only like it once!

Read the original here:

Hypergravity access awarded to Bolivian and Macau teams - European Space Agency

Leading gaming trade show G2E Asia is returning to Singapore for a second Special Edition from May 30 to June 1. This year, its expected to attract 20% more visitors than before, providing a platform for stakeholders to discuss the latest updates and trends in the Asian gaming industry

After three years of stagnation caused by the COVID-19 pandemic, economic and trade activities in the region have gradually resumed in full swing over the lifting of travel restrictions. A major casino industry trade show and conference, Global Gaming Expo Asia (G2E Asia), is now returning with two shows: G2E Asia Special Edition: Singapore in the island state from May 30 to June 1, followed by the Asian IR Expo + G2E Asia 2023 in Macau from July 11 to 13.

It is not the first time for G2E Asia to take place at Marina Bay Sands in Singapore, following its debut last year. G2E Asia 2022 Special Edition: Singapore welcomed nearly 5,000 visitors, reuniting the Asian gaming community in-person for the first time since 2019, Reed Exhibitions tellsMacau Business, which is an organiser of the G2E Asia trade shows alongside the American Gaming Association.

[The edition in Singapore] marked a milestone for G2E Asia, which serves to connect thousands of gamings leading suppliers and operators with visitors of the most important gaming and entertainment countries in Asia, the organiser says in a statement.

Thus, it comes as no surprise that the event is going to be staged in the island state again later this month. The Singapore event in May falls nicely in the global gaming event calendar and allows our customers to go back to their normal routine of attending all the major global gaming events, Reed Exhibitions adds.

Awaiting more visitors

The upcoming edition of the three-day event will focus on catering the content in various aspects across a show floor of 20,000 square metres, including the latest innovative products, market trends, and regulatory requirements. In addition, a treasure trove of diverse and targeted onsite activities will also be available for participants to conduct business and make new connections: they can choose to attend a welcome reception and a variety of segmented industry cocktail events, including the Table Games Networking Cocktail, Slots Networking Cocktail, and Esports Networking Cocktail.

We look forward to welcoming a projected [estimate of] 6,000 visitors and more than 100 exhibiting companies across 20,000 square metres of exhibition space, the organiser says. Whether content, networking, or exhibition, G2E Asia continues to meet the moment as our industry resurges from the pandemic.

Japan and Thailand

Apart from the exhibition and networking events, the conference programme is also a crowd-puller of any G2E-branded show, featuring sessions and forums led by high-level industry leaders, influencers, and experts. G2E Asia has always reflected the industry that we serve by identifying the trends, leaders, and products that are driving the Asian gaming community forward, Reed Exhibitions remarks. Specific to the special edition in Singapore, our content line up will deliver the insights attendees need to inform todays business.

With an overall theme of The Future Gaming Landscape in Asia, the first day of the conference (30 May) will present an overview of Asian gaming markets, including the financial outlook of the sector and the latest updates on the emerging markets in the region, including Thailand, Japan, Vietnam, the Philippines, and India. The opening day will end with a panel that specifically talks about two markets that could become the potential growth engines of the region, Thailand and Japan, and their economic impacts to other Asian markets.

Following years of discussions and setbacks after the formulation of an integrated resort law that legalised casino gambling in 2018, the Japanese government finally approved in April this year the countrys first plan to construct an integrated resort in the western city of Osaka. The 1.08 trillion-yen (US$8.07-billion) complex, developed by a consortium comprising casino operator MGM Resorts International and Japanese group Orix Corp., aims to be inaugurated in 2029. Meanwhile, Thailand is just in talks about legalising land-based casinos without any concrete targets at the moment.

Compliance and regulations

The second day of the 2023 Singapore conference programme (May 31) will place an emphasis on the investment and developing opportunities across Asia, how operators can optimise customer experiences, and innovations in the region. There are also a number of sessions dedicated to the eSports industry.

The final day of the programme (1 June) will concern the IAGA Best Practices Institute, which will examine compliance and regulatory challenges and issues in Asia, and key considerations for new and expanding markets. Panels about balancing operations with regulatory oversight, latest advancements in combating financial crimes, and how to create and implement effective responsible gaming measures will also be available.

Reed Exhibitions has yet to unveil the line-up of speakers for the three-day panels and sessions, nor the keynote speaker for the 2023 edition. The G2E Asia 2022 Special Edition: Singapore invited Ed Bowers, President of Global Development of MGM Resorts International, the parent firm of Macau gaming operator MGM China Holdings, as the keynote speaker, who detailed the ambition of the Osaka project at the time.

Regular fixture?

With G2E Asia cementing its presence in Singapore for two years in a row, one might wonder whether this so-called special edition will become a regular fixturein the annual Asian gaming event calendar. We look forward to sharing details for next years G2E Asia as they become available, Reed Exhibitions replies when asked about the topic.

Less than two months after the conclusion of the Singapore event, Reed Exhibitions and the American Gaming Association will host another show in the region, Asian IR Expo + G2E Asia 2023 in Macau. The July show at the Venetian Macao marks the first G2E-branded event in the gambling enclave in four years G2E Asia was held in Macau annually between 2007 and 2019 before the onset of the COVID-19 pandemic, with the 2019 edition attracting more than 16,500 local and international visitors from 105 countries and regions.

The G2E Asia Asian IR Expo in Macau is a unique opportunity to focus on integrated resorts, extending beyond gaming. This will be an invaluable platform to drive business diversification and get expert insights on Macaus latest economic development, Reed Exhibitions adds.

More here:

On a roll - Macau Business

Wynn Resorts provided more evidence of a strong Macau casino comeback ahead as the company beat earnings and revenue estimates in the first quarter.

Casino operator Wynn (ticker: WYNN) joined Las Vegas Sands (LVS) in beating expectations off the back of the travel and tourism recovery in the region after restrictions were lifted in January.

The company also reinstated its dividend, announcing a quarterly dividend payout of 25 cents a share, which it said reflected the strength of its results.

The companys Macau operations generated operating revenue of $600.1 million in the first three months of the year, beating FactSet estimates of $588 million. Its Wynns highest quarterly Macau revenue figure since the fourth quarter of 2019, before the Covid-19 pandemic.

Wynns Macau property portfolio returned to profitability, posting adjusted Ebitda of $155.8 million, up from a $5.5 million loss the previous year, and at around 40% of 2019 levels.

Advertisement - Scroll to Continue

In Macau, after several challenging years, we were pleased to experience a meaningful return to visitation and demand, particularly in our mass gaming and retail businesses, said CEO Craig Billings.

He added that Wynn was well-positioned for success in Macaus next phase of growth.

The regions recovery is really only getting started. Las Vegas Sands noted that ferry capacity between Macau and Hong Kong had only reached 25% of 2019 levels by the end of March, while airport passenger volumes reached 39%.

Advertisement - Scroll to Continue

Wynn continued to perform well in Las Vegas, where it posted a record adjusted property Ebitda of $232 million. Billings said this was achieved despite the confluence of high inflation, high interest rates, bank failures, and increasingly difficult year-over-year comparables.

Hotel revenue was strong in Las Vegas as the average daily room rate reached a record $493, up 46% from the same period in 2019.

Jefferies analyst David Katz reiterated a Buy rating on the stock following the earnings release. The strength of the quarter is supportive of our positive view, most notably on Las Vegas and Macau, which should continue to accelerate through 2023, he said.

Advertisement - Scroll to Continue

Wynn reported total revenue of $1.42 billion in the first quarter, a 49% increase from the same period in 2022, and ahead of analysts expectations of $1.4 billion. Adjusted earnings of 29 cents a share beat estimates of 4 cents a share, according to FactSet data.

The stock, which has climbed 35% so far this year, pointed 0.7% higher in premarket trading Wednesday.

Write to Callum Keown at callum.keown@barrons.com

Go here to read the rest:

Wynn Beats on Earnings and Revenue. Why a Macau Recovery Is Worth a Bet. - Barron's

AirAsia, the Malaysian low-cost carrier, has announced plans to resume services that will connect the city of Kota Kinabalu in Sabah, Malaysia, to Macau and Beijing, according to a report published by the local Malaysian newspaper, The Borneo Post.

AirAsia has been making efforts to resume its operations between Malaysia and various destinations in China since the country reopened its borders after ending its zero-COVID policy in December 2022.

According to the report, the Malaysian low-cost carrier will be reconnecting Kota Kinabalu International Airport (BKI) to Macau International Airport (MFM) with four flights per week, starting in July 2023. AirAsia will also resume flights between BKI Airport and Beijing with seven weekly flights from July 1, 2023, marking the first direct flight between BKI Airport and China's new Beijing Daxing International Airport (PKX).

AirAsia did not specify the type of aircraft it will use on these routes. However, the airline's options are limited to three models: the Airbus A320, the A321, or the A330.

Photo: Jaggat Rashidi/Shutterstock

It is worth noting that AirAsia will be the only airline connecting Sabah state capital directly to the capital of China, with its new route from Kota Kinabalu to Beijing Daxing. AirAsia's Sabah network plays a significant role as one of its three main hubs in Malaysia, aside from Kuala Lumpur, where the airline operates 20 domestic and international routes.

Sabah offers a range of international routes with AirAsia, including seven weekly flights to Hong Kong, Shenzhen, Wuhan, and Guangzhou. Taipei is also included in the list, with seven weekly flights available. In addition, there are 14 weekly flights to Singapore.

Currently, AirAsia is China's largest foreign low-cost carrier, with a 45% market share, following the recent resumption of flights to and from key cities Shenzhen, Guangzhou, Nanning, Wuhan, Kunming, Macao, and Hong Kong.

Notably, the airline operates 35 routes in China, with a combined total of 287 weekly flights from Malaysia, Thailand, and the Philippines in May. The airline group plans to increase this number to 317 weekly flights by adding new routes such as Kuala Lumpur to Shantou, Kota Kinabalu to Beijing Daxing, Bangkok Don Mueang to Xi'an, and Cebu to Shenzhen between June and July 2023.

Commenting on the China market rebound, AirAsia Malaysia CEO Riad Asmat said:

"China has always been one of our most important key markets. The two routes will contribute about 10% additional capacity to our China network, and we remain committed to expanding the connectivity to Malaysia further, which is a popular destination for Chinese tourists.

"Having most of China's routes back on our network will help the growth of the tourism sector, an important asset for the nation's economy. We hope that our vast network will contribute to the Ministry of Tourism Arts and Culture's target of 16.1 million international tourist arrivals this year."

Sources: The Borneo Post

Read the original here:

AirAsia To Restart Flights From Kota Kinabalu To Macau & Beijing In ... - Simple Flying

The Macao SAR Government has told a junket lobby group that it will not abolish a 5% tax charged on commissions earned by junket operators.

Confirmation of the governments intention to impose the 5% tax comes after the Macau Association of Gaming and Entertainment Promoters sent a letter to the government on 6 February requesting its abolition.

As previously reported by IAG, junkets have long been required to pay tax on the commissions they receive on rolling chip turnover, although this tax has previously been waived.

However, with the passing Macaus new junket law, titled Legal Framework for Operating Games of Chance in Casinos, the government is now demanding payment of the tax.

In response to the lobby groups letter, the government this week replied, Under the Gaming Law, there is no legal basis to exclude a portion of gaming junkets income from the tax because of the cost of the gaming junkets.

In other words, according to the relevant provisions of the existing gaming law, the tax on gaming junkets commission should be calculated at 5% of the gaming junkets commission paid by the licensee.

In an interview with IAG in March, the President of the Macau Association of Gaming and Entertainment Promoters, U Io Hung, argued that a 5% commission tax would have a significant impact on the operation of junkets, who are no longer permitted to engage in revenue share agreements with concessionaires.

He also pointed out that junkets are facing competition from the move by concessionaires towards a direct VIP model, which allows them to provide greater incentives to customers because they no longer have to pay junket commissions.

Continue reading here:

Macau government says 5% tax on junket commissions here to stay - Inside Asian Gaming

The Macau SAR Government has introduced a new gaming credit bill which if passed would introduce a number of penalties, including a maximum fine of MOP$5 million (US$615,000), for any breach of the credit law by concessionaires.

The bill, titled Legal regime of credit concession for gambling in casinos, confirms the governments updated stance on gaming credit by which only concessionaires will be permitted to issue such credit. Under the law, casino management firms would be prohibited from issuing credit, although licensed junkets would be permitted to enter contracts with concessionaires that would allow them to do so.

The bill also specifies that Macaus gaming regulator, the Gaming Inspection and Coordination Bureau (DICJ), is the authority tasked with overseeing the credit actions of concessionaire and any junkets they reach agreements with. In order to ensure proper oversight, it states that the supervisory staff of DICJ can perform supervisory duties at any time and without prior notice.

When they (the monitoring officers) properly identify themselves, the entity must allow the monitoring officers access to the site where the monitoring is to be carried out and allow them to complete their monitoring work, it reads.

The bill establishes a penalty scheme whereby if a concessionaire conducts credit operations through another entity or transfers credit qualifications in any form to another person, it will be liable for a fine of between MOP$2 million to MOP$5 million (US$246,000 to US$615,000). If a junket violates the relevant regulations, it will be liable for a fine of between MOP$600,000 and MOP$1.5 million (US$109,000 and US$185,000).

Article 8 of the bill, titled General Obligations of Credit Entities, is also a new regulation and contains three key provisions: the concessionaire or gaming junket is required to establish an appropriate system of credit risk control and to conduct credit business in a prudent manner, to establish a clear system of credit activity records and to put in place security measures for data protection and to establish an effective and sound mechanism for handling customer complaints.

The Macau Executive Council first announced amendments to the credit law last month, with the latest version of the bill having now been published on the website of the Macau Legislative Assembly, where it is currently scheduled for scrutiny.

The bill will be referred to the Legislative Assembly for scrutiny and voting, and is still in draft form, said DICJ Director Adriano Marques Ho stated at a press conference last month.

The bill confirms that the only credit entities are the concessionaire and the gaming junkets, and that management companies will no longer be credit entities.

Go here to read the rest:

Macau concessionaires face US$615000 fines should they breach ... - Inside Asian Gaming

Ukrainian President Volodymyr Zelensky will visit Germany on Sunday to meet with leaders of Europes top economy, a government source in Berlin told AFP.

The trip comes just after Berlin said it was preparing a new weapons package worth 2.7 billion euros ($3 billion) for Kyiv, including tanks, armoured vehicles and air-defence systems.

Zelensky is currently on a visit to Rome to thank Italy for its support and meet with Pope Francis.

Details of Zelenskys Germany trip have not been released, but media reports say he will meet with both Chancellor Olaf Scholz and President Frank-Walter Steinmeier.

Reports also suggest Zelensky could travel to the western city of Aachen to pick up the Charlemagne Prize, awarded for work done in the service of European unification.

For the first time in its long history, the Charlemagne Prize is recognising that the freedom and fundamental principles of Europe must be defended with force if necessary, the prize committees director Juergen Linden told Germanys Tagesspiegel newspaper this week.

Read more here:

Zelensky to travel to Germany on Sunday: government source - Macau Business