Industry
April 4, 2023
Macau Posts Strong Revenue in March, Surpasses Expectations
After the impact of the pandemic, the gambling sector in Macau started to slowly emerge. The lifting of restrictions combined with the reopening of venues helped the industry begin its recovery. Now, a few years after the pandemic, Macau’s gaming revenues continue to rise and in fact, marked a significant year-over-year increase this March. In […]
Industry
March 6, 2023
Macau Sees Dip in Gambling-Related Crime in 2022
In an address last week, Wong Sio Chak who serves as the SAR’s secretary of security, provided new numbers on crime in Macau and explained that the illegal activities specifically linked to gambling fell significantly in 2022. Gambling Crime Subsides in 2022 as Tourist Numbers Fall Overall, 371 cases were registered in 2022, down from […]
Industry
February 27, 2023
Macau Confident in 2023 Recovery, Expects GGR to Reach $16B
Now, Macau’s chief executive Ho Iat Seng has outlined an ambitious goal for the city’s gambling industry, with gross gaming revenue (GGR) expected to hit $16 billion (MOP130 billion) this year according to the official. Confident about Recovery in 2023 and Beyond Ho remains defiant in the face of analyses by investment banks which he […]
Industry
February 27, 2023
Macau Lifts Mask Mandates as It Exits the COVID-19 Pandemic
Macau has finally lifted its mask mandates, authorities said on Sunday, February 26 confirming that citizens and visitors would no longer be required to wear a mask in the majority of locations in the Special Administrative Region apart from public transportation and hospitals, along with a few other locations where wearing a mask remains compulsory. […]
Casino
February 24, 2023
Macau VIP Industry on the Crossroad, Former Employees Suffering
As the junket industry in Macau is continuing to adjust to the new reality, more than 90% of people who were previously employed with junket operators have not returned to the gaming industry. Junket Operators Staying on the Sidelines The figure was revealed by the president of the Macau Association of Gaming and Entertainment Promoters, […]
Business
February 21, 2023
Galaxy Entertainment Group Appointed Ted Chan as CFO
One of Macau’s casino concessionaires, Galaxy Entertainment Group (GEG), announced a major change in its executive team with the departure of Robert Drake whose role as Chief Financial Officer (CFO) will be assumed by Ted Chan. Extensive Financial and Operational Experience The appointment of Chan as Galaxy Entertainment’s new CFO will take place after a […]
Casino
February 21, 2023
Morgan Stanley: Macau 2023 GGR and EBITDA Revised Upwards
Gambling industry analysts at Morgan Stanley believe that gambling in Macau is on the way to recovering, raising its gross gambling revenue (GGR) estimate for 2023 by 42% and 2023 EBITDA estimate by 70%. Better Product Mix, Higher Margins According to the note released by Morgan Stanley on Monday, the gambling industry in the Special […]
Industry
February 10, 2023
A Surge in Macau Casino Stocks Shows Industry on Path to Recovery
South China Morning Post reported that this is evident in the recent stock market performance of casino operators such as Galaxy Entertainment, Sands China, and MGM China, which have seen significant growth in the past few weeks. In fact, a Bloomberg index that tracks the performance of six of the largest casino operators in Macau […]
Legal
February 8, 2023
Macau Police Arrests DICJ Employee for Running Prostitution Website
The arrest of the 58-year-old employee of DICJ has shaken the city of Macau. The individual had been working at the bureau for 30 years. The investigation into the case began last September when the PJ arrested 19 individuals and 54 mainland Chinese women for their involvement in the illegal operation. Prostitution Website Ran for […]
Casino
February 7, 2023
Junket Operators Impacted by New 5% Commission Tax
Besides the standard 35% tax on gross gaming revenue, casino operators in Macau, under the new rules, are due to pay an additional 5% floor “rent” fee. In addition to the casino operators, the new rules affected the once-profitable junket operators as well. Per the new regulation, the junkets are due to pay a 5% […]
