Casino
July 11, 2022
Macau Announces Lockdowns for a Week Through July 18
Macau has just imposed full lockdown with only essential services allowed to do business to a limited extent. This means that all commercial and industrial activities are being shut down, including casinos. Closed Casinos and Other Commercial and Industrial Operations The lockdown introduced by the SAR government and announced at a press conference on July […]
Casino
July 8, 2022
S&P to Downgrade Melco Resorts’ Credit
S&P Global Ratings, an American credit rating agency, may soon downgrade the credit of Melco Resorts & Entertainment and its Studio City. The reason for this is S&P’s doubts that Macau, a key region for Melco’s business, will recover from the pandemic anytime soon. S&P commented that Melco’s mass GGR is experiencing a slow recovery […]
Casino
July 8, 2022
Macau Casino GGR Forecasts Are Cut, COVID-19 Is Cited as the Main Cause
The gross gaming revenue forecast for Macau casino concessionaires has been cut by S&P Global Ratings as the institution cited the surge of COVID-19 cases in its report, which was published yesterday (Thursday, July 7). Casino GGR Will Reach $1.08 Billion at Most, According to S&P Global Ratings S&P Global Ratings stated that with the […]
Casino
July 8, 2022
Macau Converts Two More Casino Hotels into Quarantine Areas
Macau is undergoing one of its worst COVID-19 outbreaks. In fact, the special administrative region managed to withstand the highly-infectious virus for the past two years, but the disease has resurfaced, claiming lives and now reaching 1,215 cases as of the time of reporting. New data is processed all the time. This has forced the […]
Casino
July 6, 2022
Global Recession May Have Minor Impact on Macau’s Gambling Industry, Claims Report
While the pandemic is yet to reside and Russia’s invasion of Ukraine is ongoing, chances of a global recession are far from slim. The hospitality and entertainment industries are the ones that may feel the impact of a possible recession. However, a new report suggests that a global recession may have a minor impact on […]
Industry
July 6, 2022
JP Morgan Says Re-Tendering of Macau Casino Licenses Imminent
Tuesday’s reveal of Macau’s re-tendering rules caught some by surprise. Analysts and concessionaires responded with cautious optimism about the new rules, pointing out that the last time the industry underwent re-regulation, it took Macau around a month to publish the new rules. That was in 2021. Re-Tendering Rules Arrival Could Mean Imminent Launch of Process […]
Industry
July 5, 2022
Wynn’s $2B UAE Casino Resort Offers ‘Brand Extension’
A $2 billion integrated casino resort in the United Arab Emirates (UAE) is one of the key priorities for Wynn Resorts as the company seeks to extend its brand worldwide according to Wynn Resorts CEO Craig Billings. Billings, who is now over six months into the position of chief executive officer at the casino resort […]
Industry
July 5, 2022
Macau Posted the Rules for Re-tendering Casino Licenses
Macau’s government just unveiled the rules for the re-tendering of the region’s gambling licenses. There will be several criteria by which the government will decide whether to license a company or not. Macau Seeks Companies that Can Revitalize the Sector Today, the Macau government published the rules for the re-tendering of the special administrative region’s […]
Casino
July 5, 2022
Alvin Chau May Have Shorthanded Macau $1B Worth of Tax
The fall from grace of Alvin Chau, the prominent casino junket boss in Macau, whose Suncity Group was running an extensive business in the special administrative region and beyond, may have “cheated” the gambling industry in the hub out of $1 billion in tax revenue, Asia Nikkei reported. Alvin Chau’s Syndicate Explained by Prosecutors Chau […]
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 […]
