Industry
June 20, 2022
Macau Continues Mass Testing While Keeping Casinos Open
China’s vainglorious attempt to keep the spread of the COVID-19 infection under to a zero has been punctuated by on-again-off-again lockdowns that have translated into a grim outlook about Macau’s recovery and plunging business bottom lines. On Monday, the Chinese territory has begun its second day of intensified testing which will take a sample from […]
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 […]
Casino
June 16, 2022
SJM to Run Grand Emperor Hotel Casino for Another Six Months
Hong Kong-based Emperor Entertainment Hotel Ltd will let concessioner SJM Holdings Ltd run the satellite casino at the Grand Emperor Hotel for another six months despite the service agreement with SJM expiring on June 26. In order to keep the casino running, SJM shall have to pay fees of HKD 21.0 million ($2.6 million) to […]
Industry
June 15, 2022
Wynn Resorts Provides Wynn Macau with a $500M Loan
Wynn Resorts has vowed to continue investing in Macau despite the hurdles the region is facing. To prove this, the gambling giant loaned $500 million to its Wynn Macau arm, helping it recover from COVID-19. Wynn Resorts Lent $500M to Wynn Macau Wynn Macau will use the money to bolster its business and mitigate the […]
Industry
June 15, 2022
Macau to Extend Casino Licenses, TDM Reports
Local Macau broadcaster TDM has reported that the government of the special administrative region will likely sign a new casino license extension on June 23. According to the reports, casino operators’ licenses will be extended for six additional months. Each Concessionaire Will Have to Pay $5.8 Million The extension comes as no surprise, considering the […]
Casino
June 7, 2022
Macau Satellite Casinos Expected to Remain Operational
Macau satellite casinos have come under a lot of fire, but there is no particular reason for concern argues Macau chief executive Ho Iat Seng who is confident that business will continue as usual for the most part. Ho Iat Seng expects that satellite casinos will not entirely cease operations and that, in fact, many […]
Casino
May 31, 2022
Oceanus Acquisition May Be SJM’s Last Satellite Casino
The courtship between Macau concessionaires and satellite casinos has most likely come to an end. The best example of that is SJM Holdings which, following its acquisition of Oceanus, will most likely not be looking to buy any additional satellite casinos moving forward, at least according to JP Morgan. SJM Holdings Unlikely to Buy More […]
Casino
May 31, 2022
SAR Concessionaires to Weather Any Storm Assures Bernstein
Brokerage firm Bernstein has remained fairly optimistic about the outlook Macau casino concessionaire have. The firm believes that the existing liquidity of the Special Administrative Region (SAR)’s companies will be sufficient to tide them over through any foreseeable future crisis, never mind any economic downturns or increased border scrutiny on the Chinese border which has […]
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 […]
