Casino
February 1, 2023
Macau Casino Revenue in January up 82.5%, Recovery on the Cards
Shares of Macau casino operators posted gains of between 3% and 5% after official data released by the Special Administrative Region (SAR) of China’s government revealed that gambling revenue in January nearly doubled. Substantial Revenue Increase Macau casinos generated MOP11.58 billion ($1.44 billion) in gross revenue in the first month of 2023 to post an […]
Legal
January 18, 2023
Former Suncity Group CEO Alvin Chau Gets 18 Years in Prison
GGR Asia reported that Chau, who was arrested back in November 2021, was found guilty on charges of illegal gambling, including running illegal gambling activities in licensed venues and fraud. Chau was not found guilty of charges of money laundering. Suncity Group’s Side-Betting Scheme Confirmed Macau Court of First Instance’s judge Lou Ieng Ha pronounced […]
Industry
January 17, 2023
JP Morgan: Macau Operators Already Profitable
They say one swallow doesn’t make a summer, so Macau has been very proactive to diversify its efforts in restoring the SAR to its previous status as one of the best tourist spots for gambling aficionados. Operators Profitable Again The investment bank’s analyst – DS Kim – provided a weekly update sharing numbers for the […]
Legal
January 13, 2023
Macau Police Busts Illegal Gambling Scheme and Arrests 15 People
The Macau Daily Times reported that the arrested Macau residents of ages 29 to 66 years old were allegedly part of an illegal online gambling business operated on overseas servers. The Investigation Was a Collaboration Between Macau and Guangdong Authorities At a press conference that took place on January 12, the Macau Judiciary Police announced […]
Industry
January 10, 2023
JP Morgan Reevaluates Q1 Expectations for Macau’s Gaming Sector
The global leader in financial services, JP Morgan, reevaluated the expectations for Macau’s gaming operators for the first quarter of 2023, a report released by IAG reveals. Operators in Macau Expected to Start Economic Recovery This Year DS Kim, an analyst for JP Morgan, explained that the company anticipates seeing the non-gaming GGR start its […]
Industry
January 9, 2023
Macau Extends Compliance Period for Electronic Gaming Machines
Details of the electronic gaming machines (EGM) Technical Standards 2.0 emerged last year. The change sought to introduce rules that ensure the same technical standard for gambling operators, protect the consumers and help with the development of the market. EGMs Need to Comply with New Rules Now, a new report by IAG reveals that the […]
Business
January 4, 2023
Taxes from Gambling in Macau Decrease in November 2022
In light of the COVID-related restrictions and decrease in traveling, the Macau SAR Government has seen a decrease in tax revenue recently. Macau Gambling Taxes Halt at $194M in November Overall, Macau’s six casino concessionaires contributed a total of MOP$1.56 billion ($194 million) in November 2022, a recent report released by IAG reveals. When compared […]
Industry
January 4, 2023
Number of Licensed Junkets in Macau Continues to Decline
The crackdown on junkets amid alleged ties with criminal organizations started late in 2021. Back then, Alvin Chau, who used to be the CEO of the popular junket Suncity Group was arrested. Then, early last year, Tak Chun Group’s CEO was also apprehended over alleged ties to criminal organizations and illegal gambling. Number of Licensed […]
Casino
January 3, 2023
Macau’s Three-Day New Year’s Visitation Numbers Disappointed
Macau international visitation numbers during the three-day New Year’s holiday from December 31, 2022, to January 2, 2023, plunged compared to the same period in the year before. Down between 33% and 42% The Special Administrative Region (SAR) of China saw an aggregate of around 62,000 tourists for the holiday, bringing the total number of […]
Legal
January 2, 2023
Gambling Concessionaires in Macau to Pay New Casino Floor Fee
The taxation of gambling plays an important part in the regulation of the activity and raises invaluable revenue for local and country-wide initiatives. Currently, gambling operators in Macau pay a 35% tax on their gross gaming revenue. The operators are due to pay another 5% of their gross gaming revenue in the form of tax […]
