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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...
Online gambling outflow from Philippines seen as stabilizing
The outflow of online gambling operators from the Philippines is expected to slow, at least for the time being, following amendments to tax regulations and due to uncertainties in neighbouring jurisdictions. Taxation of Philippine Offshore Gaming Operators (POGOs) has become a politically...
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...
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...
Kerala bans online rummy
The Indian state government of Kerala has joined Telangana, Andhra Pradesh, and Tamil Nadu in specifically banning online rummy or other games played for stakes. The moves against online gambling appear to be particularly strong in southern India, where some suicides and other social ills are being...
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...
Incheon gaming zone development faces delays
The planned gaming and entertainment zone in Incheon, South Korea, is facing delays on almost all fronts, mainly, but not entirely, due to the coronavirus pandemic. The original prospect was that the area around Incheon International Airport would become one of the premier playgrounds in East Asia,...
Kangwon Land’s license extended to 2045
The South Korean government is moving forward with a plan to extend state-backed casino resort Kangwon Land’s operating license for a further twenty years to 2045. The National Assembly’s Industry, Trade and Energy Small and Medium Venture Business Committee held a plenary meeting on the 23rd...most popular
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Jeju Dream Tower’s September casino revenue nearly doubles year-on-year
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...