Industry
October 18, 2022
Dismal Q3 for Macau Casinos, Negative 2022 Trend Continued
Casinos in Macau continued to struggle in the third quarter of 2022, revealed the quarterly gaming statistics report of the Gaming Inspection and Coordination Bureau (DICJ). Record-Low Year on the Horizon Macau casinos registered for the three months ended September 30, 2022, games of fortune gross revenue of just HK$5.55 billion ($707 million), sliding down […]
Industry
October 12, 2022
Chinese Embassy Denies Blacklisting the Philippines
On Tuesday, the Chinese Embassy in Manila denied senate president Juan Miguel “Migz” Zubiri’s earlier announcement, according to which the Philippines appeared on the tourism destination blacklist for Chinese tourists. Per the statements of Zubiri, the Philippines had already been “part of a blacklist of tourist sites” due to the problem with the Philippine Offshore […]
Casino
October 11, 2022
China Puts PAGCOR on Traveling Blacklist over POGOs
China continues to huff and puff over Philippine Offshore Gaming Operators (POGOs) and the country is done being diplomatic about its objection to Chinese nationals participating in activities that take place in the sprawling POGO industry. Rather, China is moving with a tougher measure, putting the Philippines on a blacklist of overseas tourism destinations. China […]
Casino
September 30, 2022
Macau Officials Expect Over 20,000 Daily Golden Week Participants
The deputy director of the Government Tourism Office in Macau, Cheng Wai Tong, has predicted a minimum of 20,000 and up to 25,000 people will be attending the upcoming National Day Golden Week celebrations. The event will kickstart on Saturday, October 1 and it will end on Friday, October 7. What Will the National Day […]
Legal
September 29, 2022
Defendant Admits He Helped Suncity Customers Open Online Gambling Accounts
The court proceedings against a group of former Suncity Group employees continue with full force after Chinese authorities cracked down on the junket operator uncovering illegal gambling activities, side-betting operations, fraud, and other violations. Another Defendant Accused of Manipulation of Funds Was Heard by the Court In the course of the hearings, which have been […]
Casino
September 26, 2022
Macau Casino Stocks Surge After Macau Announces It Will Relax COVID Measures
Macau casino shares experienced a positive boost after the chief executive of Macau, Ho Lat-Seng, announced that Macau is going to accept tourist groups from mainland China again starting in November. Macau Casino Stocks Surge as COVID Travel Restrictions Are Relaxed Bloomberg reported that its Intelligence gauge tracking Macau’s six casino operators that have casino […]
Legal
September 22, 2022
Crimes Related to POGOs Impact China’s Relations with Philippines
China’s fight against the Philippine Offshore Gaming Operators (POGOs) continues. Joining forces with Philippine law enforcement, Chinese authorities reaffirmed their commitment to ending illegal gambling and fighting POGOs-related crimes. Now, a new report reveals that China’s relations with the Philippines may be harmed by crimes related to illegal gambling. Chinese Ambassador Warns about Impact of POGO-Related Crimes […]
Industry
September 14, 2022
Seven Companies Fight for Macau’s Limited Casino Licenses
At the end of July, the Macao SAR Government announced a new public tender round for casino concessions for the next 10-year period. According to their newly implemented guidelines, operators will be able to compete for six licenses of up to ten years. The application period ended on 14 September with seven potential applicants, meaning […]
Industry
September 6, 2022
Macau Continues to Fall Behind as Casino Suppliers Relocate
China’s Covid Zero policy continues to hamper Macau’s post-pandemic recovery. The special administrative region’s gambling market continues to show subpar financial results, and experts are not optimistic about its prospects. This uncertainty has prompted several key casino suppliers to jump ship and relocate to Singapore and the Philippines, where operators have recorded substantially better growth. […]
Industry
September 6, 2022
Bernstein Is Skeptical about Macau’s Recovery
Finance expert Bernstein has once again commented on the situation of Macau’s gambling market. This time, the firm’s analysts discussed the special administrative region’s slight daily revenue growth. Umansky and Yang Don’t Buy the Optimism Vitaly Umansky and Shirley Yang, two finance experts at Bernstein, explained that during September’s first four days, Macau’s gross gaming […]
