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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...
LVS to sell properties for US$6.25 billion, reiterates Asia focus
It’s the end of an era for Las Vegas Sands. The group agreed to sell its iconic properties in Las Vegas for US$6.25 billion and said the main focus of the group is now in Asia. Under the terms of the sale, fund management group Apollo Global Management will buy the operating assets and...
Macau, Cambodia to lead gaming recovery: Colliers
Macau GGR recovery will be driven by premium mass, whilst Cambodia’s gaming recovery will be driven by the VIP segment, according to analysts at Colliers International. Govinda Singh, executive director & head of hotels & leisure for Colliers International wrote in a report that most of...
Macau Legend still in the hunt for own gaming license
Melinda Chan, Macau Legend executive director and president of the Macau Fisherman’s Wharf International Investment Limited, told the local media that her company is still focused on obtaining a gaming license of its own in a future public gaming tender. Currently, Macau Legend operates three...
MGM says US regional operations leading firm’s recovery
MGM Resorts announced its fourth quarter and full year financial results this morning, commenting that it was the firm’s operations in various regional markets in the United States that were recovering most quickly from the pandemic era. Las Vegas continues to be one of the most difficult spots...
Sands president says Londoner to become instant icon
Sands China opened its $1.9 billion “The Londoner” on Monday, providing a vote of confidence in the Macau market’s recovery. In an opening ceremony, Sands China President Wilfred Wong paid tribute to company Chairman and CEO Sheldon Adelson who died last month and whose vision transformed...
Wynn upgraded to “neutral” at Citi on premium mass strength
Wynn Resorts was upgraded to “Neutral” from “Sell” at Citi due to optimism over the company’s premium mass business in Macau after it reported better-than-expected Q4 results last week. Although VIP still represents a significant portion of the group’s earnings in Macau, Citi analyst...
Wynn Resorts operating revenues down 58.5% in Q4
Wynn Resorts has published its fourth quarter 2020 and full year financial results, headlined by a 58.5 percent year-on-year decrease in operating revenues. Operating revenues came to a total of US$686 million for the quarter. Net losses attributable to the company were US$269.5 million. Matt...
Macau January GGR performance better than expected
Macau’s gross gambling revenue dropped 63.7 percent in January, better than analysts had been expecting after renewed Covid-19 clusters on Mainland China slowed visitation later in the month. Gross gambling revenue totalled MOP8.02 billion ($1.0 billion), according to figures released by the...
World casino capital reopens
Macau, a district with the world's busiest casinos, began re-issuing tourist visas as it attempted to recover from Covid-19. Macau officials said they will proceed with the issuance of tourist visa from today to take visitors back to the district's casinos. Personal and group tours from...most popular
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Macau probes $3.6M casino investment scam tied to fake VIP room deal
The Government Office has just announced the conclusion of Deputy Prime Minister Truong Hoa Binh about the meeting with leaders of Quang Ninh province on August 31. Regarding the investment policy of the high-end resort and entertainment complex project with casino in Van Don economic zone, the...