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Macau casino shares fall amid 11 arrests, Chau believed detained
Macau casino shares have plunged amid the arrests of 11 people over alleged links to cross-border gambling and money laundering, with Suncity Group Holdings Chairman Alvin Chau believed to be among those detained. Suncity is Macau’s biggest junket operator, and its Founder Chau is widely believed...
Dore ruling could change face of VIP gaming in Macau: Vilela
The final court ruling on Wynn Macau’s liability in the Dore Entertainment case could change the landscape of VIP gaming in Macau, according to gaming expert António Lobo Vilela. Vilela’s latest entry in the Gaming Law Review examines the liability of Macau casino operators for activities...
Sands CEO says infrastructure development to benefit Macau
Las Vegas Sands Chairman and CEO Rob Goldstein said the company “firmly believes” the Macau market will recover and will benefit in the future from infrastructure developments throughout the Greater Bay Area. Writing in the group’s 2020 annual report, Goldstein said the opening of the Hong...
Macau casino market continues its slow recuperation
The almost 40 casinos in Macau are reportedly continuing to slowly recover from the impacts of the coronavirus pandemic after last week posting a rise of 18% month-on-month in daily aggregated gross gaming revenues to about $38.37 million. According to a Monday report from GGRAsia, this is finding...
Macau operators to emerge more profitable than before: MS
The Macau casino operators are eventually seen as emerging more profitable from the Covid crisis as companies benefit from increased hotel capacity and lower costs. Morgan Stanley tells investors that the operators are likely to report EBITDA up 15 percent over 2019 by 2022. The firm noted that...
Macau weekly GGR creeps 6% higher
Macau gross gambling revenue is creeping higher, but hopes for a near-term boost from a reopening with Hong Kong may have faded after a new cluster of Covid-19 the latter city. Macau’s average daily rate (ADR) of gambling revenue was about $34 million in the most recent week of March, up 6...
Macau officials lobby Beijing for greater travel opening
Senior Macau officials have been busy lobbying the Chinese government for a further easing of travel restrictions to enable more visitation to Macau during two key political gatherings in Beijing. The officials were in Beijing for the annual session of China’s rubber-stamp parliament the National...
Sharp fall in number of Macau gaming industry workers
In the final five months of 2020 there was a steep 86.6 percent fall in the number of new hires within Macau’s gaming industry. That meant that only 174 new employees were hired during the entire stretch. This information released by the Statistics and Census Bureau (DSEC) underlined the impact...
Ratings firms mixed on LVS asset sale
Las Vegas Sands’ sale of its Nevada properties for $6.25 billion has elicited differing reactions from global credit ratings agencies. Fitch Ratings has reaffirmed the casino operator’s ratings and negative outlook, but has decided that the transaction is a “slight credit negative” for the...
Chinese guests at home, Macau lose 'Asian gambling capital'
Two months after China loosened travel restrictions to Macau, casinos in the "Asian gambling capital" remain cold and grappling with plunging revenues. According to Bloomberg, after five months of exhaustion because of near-net sales, casinos in Macau expect Chinese visitors to massively...most popular
Projects
Feature
MoF reports on casino businesses’ financial losses
The first casino in Hoi An is about to open after 4 years of construction On June 28, Hoiana Phase 1 is ready to open its doors to customers to experience the first infrastructure. After 4 years of construction, the Hoiana complex project is expected to open to welcome the first guests at the...