Casino
May 25, 2022
Macau’s Post Golden Week GGR Picks Up Slowly
While there were fears that the impact of a lackluster Golden Week holiday would carry on, Macau has started to see an improvement in gross gambling revenue, which doubled as per the latest results, Bernstein Research reported. In the week leading to May 22, a total of MOP100 million ($12.31 million) was spent on gambling […]
Industry
May 23, 2022
Wynn Resorts Executives Exchange Salary for Shares
Several members of Wynn Resorts’ leadership team have opted to get a reduced salary in exchange for shares in the company. This is yet another effort to boost Wynn’s damaged stock. Executives Pick Shares Over Cash The most notable executive to reduce his salary was none other than Craig Billings, Wynn Resorts’ chief executive officer. […]
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 […]
Legal
May 19, 2022
Macau Legislators Continue Gaming Law Amendments Discussions
Macau casino workers may be dismissed without cause in the future if concessionaires are being suspended from operating for one month to one year due to non-compliance, according to the proposed amendments to the Gaming Law, revealed local news outlet Inside Asia Gaming. Compensation for Concessionaires if Contract Suspended The Macau Legislative Assembly continued to […]
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 […]
Casino
May 18, 2022
MGM Cotai Double Murder Suspects Arrested Following Tip
After the shocking suspected double murder at one of Macau’s gaming venues, the MGM Cotai, on May 7, the police finally have a person in custody whom they believe may be the perpetrator of the heinous act. The 34-year-old Northeast China native was only mentioned by one name, referred to as Zhao. He was detained […]
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 […]
Industry
May 17, 2022
Carolina Panthers’ Owner Invested in Las Vegas Sands and Wynn Resorts
David Tepper, the owner of the Carolina Panthers, expanded the equity portfolio of Appaloosa Management, his personal hedge fund. The NFL franchise owner invested in two gambling companies, namely Las Vegas Sands and Wynn Resorts. Appaloosa Expects the Share Prices to Go Up Tepper’s investments in Sands and Wynn Resorts were the only new equity […]
