The long periods of business suspension and other restrictions on Kangwon Land related to the Covid-19 pandemic, pushing the firm into unaccustomed losses this year, is creating an even bigger financial crisis for its largest shareholder, the Mine Reclamation Corporation (Mireco).
Hyatt Hotels Corporation has announced the opening of the 1,600-room Grand Hyatt Jeju in South Korea, the largest Hyatt hotel in Asia Pacific. This hotel is part of the Jeju Dream Tower which opened on Friday.
Galaxy Entertainment Group told Macau News Agency that recent wage dispute involving workers employed at its Cotai expansion projects, originated from fee disputes between the workers and mainland employment agencies.
Over the years, many of the answers have been remarkably prescient in their forecasts for the near-term direction of Asia’s gaming industry. However, we can safely say that no one came anywhere close to guessing
what 2020 may have had in store.
While nowhere in the world has escaped the economic fallout from the Covid-19 crisis, Macau has been hit harder than most, with forecasts for gross domestic product to shrink more than 50 percent this year.