Casino revenue in Macau rose 50 percent last month after tourists to the world’s biggest gambling hub surged during China’s Golden Week holiday.
Total gambling revenue for SJM Holdings Ltd (澳門博彩控), Sands China Ltd (金沙中國) and four other casino operators increased to 18.9 billion Macau patacas (US$2.4 billion) last month from Pt12.6 billion a year earlier, Macau’s Gaming Inspection and Coordination Bureau said.
Sales for casinos in Macau, the only place in China where they’re legal, have grown 59 percent to Pt152 billion so far this year as the global economic recovery boosted spending. The economy of mainland China, where most of Macau’s visitors come from, will probably grow 10 percent this year, according to the median forecast of 17 economists surveyed by Bloomberg.
Macau’s visitor arrivals rose 13 percent to 685,000 during China’s Oct. 1 to Oct. 7 National Day Golden Week, with about 70 percent coming from the mainland, according to the territory’s tourism agency. Visitors from mainland China comprised about 53 percent of the total in the first nine months of the year, according to data compiled by Bloomberg.
Sands China rose 1.2 percent to close at HK$17.10 in Hong Kong trading before the data was released. SJM climbed 3.1 percent to HK$11.88.
Wynn Macau Ltd (永利澳門) gained 0.7 percent to HK$17.26 and Galaxy Entertainment Group Ltd (銀河娛樂集團) advanced 1.6 percent to HK$7.42. Melco International Development Ltd (新濠國際發展), which has a venture with Australian billionaire James Packer’s Crown Ltd, climbed 4.3 percent to HK$4.59.
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chipmaker, yesterday said its materials management head, Vanessa Lee (李文如), had tendered her resignation for personal reasons. The personnel adjustment takes effect tomorrow, TSMC said in a statement. The latest development came one month after Lee reportedly took leave from the middle of last month. Cliff Hou (侯永清), senior vice president and deputy cochief operating officer, is to concurrently take on the role of head of the materials management division, which has been under his supervision, TSMC said. Lee, who joined TSMC in 2022, was appointed senior director of materials management and
Nvidia Corp CEO Jensen Huang (黃仁勳) on Thursday met with US President Donald Trump at the White House, days before a planned trip to China by the head of the world’s most valuable chipmaker, people familiar with the matter said. Details of what the two men discussed were not immediately available, and the people familiar with the meeting declined to elaborate on the agenda. Spokespeople for the White House had no immediate comment. Nvidia declined to comment. Nvidia’s CEO has been vocal about the need for US companies to access the world’s largest semiconductor market and is a frequent visitor to China.
Hypermarket chain Carrefour Taiwan and upscale supermarket chain Mia C’bon on Saturday announced the suspension of their partnership with Jkopay Co (街口支付), one of Taiwan’s largest digital payment providers, amid a lawsuit involving its parent company. Carrefour and Mia C’bon said they would notify customers once Jkopay services are reinstated. The two retailers joined an array of other firms in suspending their partnerships with Jkopay. On Friday night, popular beverage chain TP Tea (茶湯會) also suspended its use of the platform, urging customers to opt for alternative payment methods. Another drinks brand, Guiji (龜記), on Friday said that it is up to individual
READY TO BUY: Shortly after Nvidia announced the approval, Chinese firms scrambled to order the H20 GPUs, which the company must send to the US government for approval Nvidia Corp chief executive officer Jensen Huang (黃仁勳) late on Monday said the technology giant has won approval from US President Donald Trump’s administration to sell its advanced H20 graphics processing units (GPUs) used to develop artificial intelligence (AI) to China. The news came in a company blog post late on Monday and Huang also spoke about the coup on China’s state-run China Global Television Network in remarks shown on X. “The US government has assured Nvidia that licenses will be granted, and Nvidia hopes to start deliveries soon,” the post said. “Today, I’m announcing that the US government has approved for us
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