Legal
May 26, 2022
Arrested Suncity Members Received Their Indictments
The Macau Public Prosecutions Office has indicted Alvin Chau, the chief executive officer of the Chinese junket Suncity. This was reported earlier by Inside Asian Gaming. The Arrestees Got their Indictments According to the report, the prosecution has also issued indictments to remaining suspects and to those who were arrested because of their ties with […]
Legal
May 25, 2022
Macau’s Wong Sio Chak Trusts the Gambling Reforms
Wong Sio Chak, Macau’s secretary for security believes the ongoing gambling law reforms will not pressure employment in the sector. COVID-19 Brought Down both Crime and Profits The secretary addressed the market’s state in the “Assessment Report on the Impact of the Current Situation of the Gaming Industry in Macau on the Public Security Situation […]
Industry
May 20, 2022
Bernstein: Digital RMB May Benefit Macau Gambling
Finance experts from Bernstein have analyzed how going cashless might affect Macau’s gambling economy. The analysts believe that it will revitalize the sector – something it desperately needs right now. Bernstein Spoke about Macau and Digital RMB Bernstein finance specialists have commented on the prospects of introducing China’s virtual currency, the digital renminbi (digital RMB) […]
Industry
May 19, 2022
GGR, Gaming Tax Continues to Decrease in Macau for April
A new report reveals tax revenue from gambling activities in Macau decreased significantly last month. Gaming Tax, Gross Gaming Revenue Continues to Go Down The Financial Services Bureau has announced tax proceeds from gambling activities in April hit MOP$1.48 billion ($183 million). This result marked a significant decrease of nearly 54% when compared to the […]
Casino
May 19, 2022
Chinese Official Hits Back at DoJ Case against Steve Wynn
The news that the US Department of Justice (DoJ) is opening a civil lawsuit against casino mogul Steve Wynn to make him register as a foreign agent of China has prompted a response from Chinese officials who were once again critical of the US “witch hunt.” The accusations, Chinese Foreign Ministry senior official Wang Wenbin […]
Casino
May 18, 2022
Credit Suisse Says China’s Visa Restrictions Hurt Macau GGR
China is intent on restricting the outflow of people from the mainland to gambling destinations such as Macau. A new set of visa restrictions has kicked in and analysts aren’t too happy with the results. According to Credit Suisse, the overreaching Chinese government may lead to a 20% reduction in gross gambling revenue for the […]
Industry
May 17, 2022
Wynn and MGM China Found Jointly Liable in Nine VIP Room Cases
The Court of Final Appeal in Macau has decided that MGM China and Wynn Macau share liability in nine cases related to lost deposits at VIP rooms. The nine cases were recorded at Dore Entertainment Co LTD’s VIP room and the former VIP room belonging to Sun City Gaming Promotions Co LTD located at an […]
Industry
May 17, 2022
Law Will Allow Macau to Alter Casino GGR Requirements
Macau’s gaming laws have been the main topic of discussion in the recent period and now, it has been revealed that the government of this special administrative region will have the power to alter the minimum required GGR that concessionaires need to reach based on economic conditions. Macau’s Gaming Law is Facing Several Amendments Apart […]
Legal
May 17, 2022
Two Men Offered Wynn Macau Director Bribes, Face Charges
Two men were charged with offering bribes for HK$1.5 million ($190,000) by the Independent Commission Against Corruption (ICAC) in Hong Kong, China. The men allegedly offered to bribe a former Wynn Macau director for air-conditioning maintenance contracts. Two Men Face Criminal Charges, Offered to Bribe Wynn Macau Director The ICAC launched an investigation after it […]
Legal
May 16, 2022
Macau Considers Tax Breaks for Concessionaires Who Bring Foreign Gamblers
Macau’s Legislative Assembly Second Standing Committee has discussed the possibility of reducing tax rates for concessionaires who attract foreign players on their grounds. This comes shortly after the government of this special administrative region introduced stricter rules for the gambling industry at the start of April. Visitors Have a Hard Time Going to Macau During […]
