Casino
May 4, 2022
Macau Does Away with Junket Agents’ Residence Issue
Macau continues to work on the imminent changes to the gambling laws in the country with a meeting on Tuesday once again discussing the Legal Framework for Operating Games of Chance in Casinos bill. The discussions carried out by the Second Standing Committee of the Macau Legislative Assembly focused on discussing a number of pressing […]
Casino
May 3, 2022
MGM China Reports 9% Revenue Drop in 1Q2022 Due to Travel Restrictions
The top developer and operator of gaming venues and resorts in the Greater China region MGM China Holdings Limited (MGM China) have reported its Q122 results. According to data provided by its parent company MGM Resorts International, MGM China recorded a revenue of $268 million in the first quarter of the year that ended on […]
Industry
May 2, 2022
Gross Gaming Revenue in Macau Hits Rock Bottom in April
April was a tough month for operators in Macau, judging by recently released figures by the Gaming Inspection and Coordination Bureau. GGR in April Hits $335M, Lowest since September 2020 Last month, the gross gaming revenue (GGR) in Macau hit MOP$2.68 billion ($335 million), according to newly released data. This marked a record low value […]
Casino
April 29, 2022
Junkets Debacle Pose no Threat to Sands China
The fall-from-grace by Macau junket operators has exposed certain operators to subsequent risks of being caught in the cross-fire between wronged VIP players and junkets that have disappeared from the market, unable to repay customers. This has posed a serious threat to the order of things in Macau with concessionaires fearing retribution. Some, such as […]
Casino
April 29, 2022
Las Vegas Sands Corp Reports $478 Million Loss for the First Quarter of 2022
The US-based casino resort operator Las Vegas Sands Corp posted net revenue of $943 million for the first quarter of 2022, compared to $1.2 billion in the prior-year quarter. The revenue of the casino division was $627 million of the total revenue, while the accommodation revenue amounted to $95 million. The revenue from food and […]
Casino
April 28, 2022
Macau’s Junket Employees Struggling to Find Employment
The re-regulation of Macau’s junket sector and a crackdown on shady operators were bound to come with implications for the employment of regular folk in the sector. This is the conclusion of a new report that examined how the recent upheavals in the sector have impacted the livelihoods of people employed in the junket industry. […]
Casino
April 26, 2022
Bernstein Expects Macau’s Slow Recovery as Restrictions Continue to Drop
Macau’s Novel Coronavirus Response and Coordination Center continue to ease up restrictions for travelers from Guangdong province, which will pave the special administrative region’s recovery in the following months. This is the conclusion brokerage firm Bernstein has reached after analyzing the region’s economy. Easing up of Traveling Restrictions Benefits Macau Macau has been fairly closed-off […]
Casino
April 25, 2022
Wynn Macau Looks for Alternatives to Attract Customers Sourced by Junkets
Wynn Macau Ltd has stated that the VIP customers sourced by junket operators are still important to the company’s revenue. That is why the Macau concessionaire has stated that it must seek alternate options that will allow it to develop a solid relationship with them. Wynn Macau Confirmed Ceasing Operating Junket Rooms at the End […]
Casino
April 25, 2022
SJM Holdings’ Liquidity Runs Low, According to JP Morgan Analysts
SJM Holdings’ liquidity has been labeled as “worrying” by JP Morgan analysts as concerns are rising concerning SJM Holdings’ refinancing abilities as the pandemic keeps soaring. The Macau casino concessionaire was among the businesses that paid a lot of money to extend their licenses until the end of 2022. SJM’s Cash Reserves Can Last for […]
Industry
April 25, 2022
Macau’s Casinos May Be Holding up to $6.4B in Frozen Junket Funds
The relationship between casino concessionaires in Macau and junket operators has never been exactly amicable, but a sweeping change to the existing laws is not making it any easier. Many of the present-day issues pertain to questionable practices in the past and the present-day realities are something that analysts, including Credit Suisse’s Kenneth Fong, Lok […]
