Star Hasn apos;t Paid Fines For Qld Breaches

HONG KONG, July 8 (Reuters) - Macau authorities have added two hotels in popular casino resorts to be used as COVID-19 medical facilities from Friday as they try to ramp up capacity to handle a surge of infections in the world's biggest gambling hub.

Following the release of its second-quarter results,  fell by 10 per cent on Thursday morning before recovering slightly to end the day 3.8 per cent lower at 1,096.5p, making it the third-biggest faller on the FTSE 100 Index.  Despite the new outlook, chief executive Jette Nygaard-Andersen expressed optimism about the company's future, telling investors that 'the underlying performance of our business remains strong.

That inquiry is vetting proposed casino laws that would force operators to self-report legal breaches, expand the government's power to gather information about casino operations and impose penalties of up to $50 million for breaches.

The market currently expects that the central bank will raise the Fed funds futures rate by 75 basis points in its latest salvo against red-hot inflation, a tactic which some fear could tip an already cooling economy into recession.

While the government has not imposed the type of citywide lockdown seen in mainland Chinese cities, Macau is effectively closed with most facilities shut. Residents have been asked to stay home and restaurants are only providing takeaway. Residents thronged to food markets and grocery stores on Thursday, spooked that the city would be fully locked down. The government denied the rumours and urged the public not to panic and hoard food, according to local broadcaster TDM.

When asked if he was confident activities and concerns raised in the NSW inquiry into Star had not occurred in Queensland, Mr Hogg said the company was working to improve its anti-money laundering policies.

stocks lost ground on Monday as a lack of catalysts left market participants warily embarking on a week back-end loaded with crucial inflation data and the unofficial beginning to second-quarter earnings season.

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"We´re hoping for a slowdown, which would put the Federal Reserve in a softer stance, but on the other hand, there are lots of reasons to believe inflation could stay high and the Fed will remain aggressive."

LOCKDOWN RUMOURS Residents thronged to food markets and grocery stores on Thursday, spooked that the city would be fully locked down. The government denied the rumours and urged the public not to panic and hoard food, according to local broadcaster TDM.

"Certainly we've obviously focused on remediation steps that we can do when we have any breaches or anything that occurs, and it's been a focus for us. I'm not aware of any fines," he told a parliamentary inquiry on Monday.

Former justice Robert Gotterson will investigate Star's commitment to anti-money laundering, its management of high rollers and the use of China UnionPay bank cards to facilitate gambling by Chinese nationals despite currency restrictions.

Hargreaves Lansdown equity analyst Matt Britzman said the company's BetMGM division 'has been a shining light' that is likely to benefit from expansion into more American states and additional gains in market share. 

While the government has not imposed the type of citywide lockdown seen in mainland Chinese cities, Macau is effectively closed with most facilities shut. Residents have been asked to stay home, public transport is curtailed and restaurants are only providing takeaway.

"We've been focusing on improving our policies now over the last three or four years, once we realised there were some gaps in what we're doing that would apply in both areas, and committed to fixing those and addressing those which we've done over the last four years," he said.

Frustration is mounting amongst residents at the government's handling of the outbreak. Some residents have had to queue for more than 20 hours to access healthcare facilities, and many are desperate to go back to work again. "There is so much anger in the community," said one casino executive who declined to be named due to company policy.

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HONG KONG, July 8 (Reuters) - Macau authorities have added two hotels in popular casino resorts to be used as COVID-19 medical facilities from Friday as they try to increase capacity to handle a surge of infections in the world's biggest gambling hub.