THE M3: GALAXY PH3 & 4; LABOR SHORTAGE; UNEMPLOYMENT; IMPORTED WORKERS; MACAU BOXING

The Macau Metro Monitor, April 26, 2013

 

 

GALAXY MACAU PHASES 3 AND 4 TO FOCUS ON PREMIUM MASS Macau Business

Phase 3 and 4 of Galaxy Macau will be principally targeted at premium mass guests.  The two phases will span 1 million square metres.  The HK$50 billion (US$6.44 billion) to HK$60 billion project will include 5,500 hotel rooms, a multi-purpose 10,000-seat arena, as well as a 1,500-seat multi-purpose showroom, the company said.  It will also include a 50,000 square-metre convention centre and gaming capacity of up to 1,000 tables and 3,000 slots.

 

The plan is to start construction “by the end of 2013/in early 2014”.  Phase two, with 500 table games, 1,000 slots, and 1,300 hotel rooms are expected to open in mid-2015.


LABOUR SHORTAGE TO WORSEN BY 2016: CHUI Macau Business Daily

Macau CEO Chui said, “The lack of local talents, land plots and the economy’s reliance on gaming revenue are the hindrances” the city’s development faces.  Chui pledged to increase the non-gaming elements in new casino resorts and to put resources into developing other industries.  “The economy’s reliance on gaming will continue for a long time but this will not prevent [the development of] the non-gaming elements,” said Chui.


He pledges there will be “a closer ratio” between the gaming and non-gaming facilities within the new big Cotai casino resorts which are expected to be completed by 2015-16.  The official also said the resorts “will need a large number of employees, which will further tighten the number of workers available for the SMEs [small and medium enterprises].”  “So when there are not enough resident workers, can we absorb qualified talents from elsewhere… to serve the city and contribute to Macau’s economic development?” he questioned.  The public should discuss this possibility, he added. “We may not face this problem this year but it will become more conspicuous by 2016,” Chui said.

 

EMPLOYMENT SURVEY FOR JANUARY-MARCH 2013 DSEC

Unemployment rate for January-March 2013 held stable at 1.9% in comparison with the previous period (December 2012-February 2013).  Total labor force was 359,000 and the labor force participation rate stood at 71.9%. Total employment reached 352,000, an increase of 1,200 from the previous period. 

 

OVER 114,000 IMPORTED WORKERS IN MARCH Macau Business 

The total number of non-resident workers in Macau stood at 114,716 in March.  This is a new all-time high, up by 1,440 from February, the previous record. The majority – over 69,000 – came from the mainland.

 

PROMOTER CONFIRMS MANNY PACQUIAO IS COMING TO MACAU Macau Daily Times

Boxing star Manny Pacquiao’s promoter Bob Arum revealed that Manny will likely face either Brandon Rios or Mike Alvarado, both US fighters, during November in Macau.


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