Casino
August 15, 2022
Wanted Chinese Online Casino Businessman Nabbed in Thailand
Police in Bangkok, Thailand has led a raid against a Chinese businessman who is wanted back in mainland China and is subject to an international arrest warrant. The man, one She Zhijiang, aged 40, has eluded Chinese authorities since 2012, according to local media outlets, but he will now face charges of running an illegal […]
Industry
August 2, 2022
SJM Holdings’ H1 2022 Performance Continued to Deteriorate
Macau casino concessionaire SJM Holdings announced today in a filing to the Hong Kong Stock Exchange the company’s unaudited consolidated interim results for the first half of 2022, posting a loss attributable to the owners of the company nearly twice as much that in the same period in 2021. Key Performance Metrics For the first […]
Business
August 1, 2022
AGTech Subsidiary Wins Tenders for Seven Provinces
AGTech Holdings has won tenders that will allow the company to pursue further expansion of its lottery betting terminals in China, thanks to the company’s local subsidiary. AGTech to Install More Lottery Terminals in China Beijing AGTech GOT Technology has won seven public tenders and will as result leverage its betting terminals in the Mongolia […]
Industry
July 27, 2022
Macau Forms Committee to Evaluate License Bidders
Macau will evaluate the bidders for the region’s new casino licenses. To that end, the special administrative region’s government unveiled a new committee. The latter will take a close look into the applicants. Macau to Soon Re-Tender Its Casino Licenses Macau recently allowed its current concessionaires to remain operational for six more months. The government […]
Industry
July 22, 2022
Hong Kong Police Busted Illegal Gambling Ring, Arrested 48 People
Authorities in Hong Kong reported Thursday one of the biggest crackdowns on illegal gambling in the country that has allegedly generated in excess of HK$33 million ($4.2 million) over two years. Raid on Illegal Gambling Establishments Police officers raided in the early hours seven gambling dens in Yau Ma Tei, Mong Kok, Sham Shui Po […]
Casino
July 5, 2022
New MGM-branded Hotel to Open in Shanghai
In a joint venture with Diaoyutai State Guesthouse, MGM Resorts International has announced that it is going to open an MGM hotel in Shanghai called MGM Shanghai West Bund, which will sport 219 guest rooms and suites. The new project will help MGM grow its presence in mainland China. The New MGM-branded Hotel The MGM-Diaoyutai […]
Industry
July 1, 2022
COVID Hurts Macau GGR, Leads to Weak June Results
It would seem like Macau’s woes never end. The special administrative region just posted the financial results of its gaming industry for June this year. The declining revenues make it very clear that the worst is far from over. Macau’s GGR Continues to Decline According to the results, Macau’s gross gaming revenues for June sit […]
Industry
June 29, 2022
Wynn Macau Grants 19 Million New Shares to Employees
Following permission by the Hong Kong Stock Exchange that was granted on June 4, Wynn Macau Ltd, operator of the luxury casino resort Wynn Macau, has issued 75 million new shares. 19 million of them are ordinary shares that are going to go to employees of the company. New Shares Issue to Compensate Reduction in […]
Industry
June 23, 2022
Credit Suisse: Macau Recovery Slower than Previously Estimated
Macau, the former global gambling Mecca, is facing a slow recovery if projections from Credit Suisse are to become true: the investment bank estimates gross gaming revenue in 2024 will only reach 80% of the 2019 level. Mass GGR Recovery Slower than Anticipated Credit Suisse released the forecast in a note Wednesday, stating that the […]
Legal
June 16, 2022
Macau’s New Gaming Law Raises Contribution Payments by 1%
Macau casino concessionaires are facing a tax hike among other changes according to the latest version of the Special Administrative Region (SAR)’s new Gaming Law. Subtle Tax Hike The Second Standing Committee of the Legislative Assembly has been discussing Macau’s new Gaming Law for over four months but Wednesday saw its last discussion before the […]
