Casino
December 30, 2021
Macau Hotel Occupancy Improves, But Omicron Threat Looms
Macau’s hospitality industry in November saw a 44.1% occupancy rate, or a 2.4% increase year-over-year. Macau has been one of the longest-standing bastions against the global pandemic, with the special administrative region (SAR) registering not a single COVID-19 case since early into the pandemic. That was until recently. However, the region has reported its second […]
Industry
December 28, 2021
Wynn Macau and Melco Resorts Severed Ties with Junkets
Two of the six casino licensees in Macau, Wynn Macau and Melco Resorts, confirmed to have completely cut their ties with junket operators, an article in GGRAsia revealed. Wynn Macau and Melco Resorts The junket sector has been seriously hit after the arrest of Suncity chief executive officer Alvin Chao last month when analysts predicted […]
Legal
December 27, 2021
Macau Set to Finalize Casino Concessions Ahead of Expiry
Macau authorities are looking to open the bidding process for new casino licenses prior to the expiration of the current gambling permits, suggested notes from JP Morgan Securities (Asia Pacific), Morgan Stanley, and Sanford C. Bernstein. JP Morgan Securities On Thursday, the government of the Special Administrative Region (SAR) of China released its summary report […]
Industry
December 27, 2021
Macau Casino Stocks Get a Boost as City Provides 2022 Gaming Update
Gaming operators with a presence in Macau received a last-minute Christmas gift last week. Only weeks after analysts set a reduced revenue forecast for Macau in 2022, the city provided an update on what is likely coming with new gaming laws. That revelation made analysts a little more optimistic, which, in turn, made investors optimistic. […]
Business
December 23, 2021
Melco Brings in Hotel Heavyweight Marriott to Help with Studio City Project
Even as Macau’s gaming future has a certain air of uncertainty surrounding it, casino operators continue to push forward as if everything is normal. In some cases, it’s obligatory. Melco Resorts International already has a lot of money invested in its Studio City property and will see it through to the end. To help support […]
Business
December 22, 2021
Wynn Macau to Break Off Marriage with Junkets
Earlier this year, Wynn Resorts announced that it was likely going to put some distance between its Wynn Macau arm and junket operators. Following the drama surrounding Suncity Group over the past month, the casino operator is ready to fulfill that statement. Junket Ops Dying in Macau Linda Chen, the vice-chairman and chief operating officer […]
Industry
December 16, 2021
Macau Optimistic on Casino Concession Approvals in 2022
The Macau government seems like it is pushing to finish the re-tendering process of gaming concessions before current licenses expire next year. Lei Wai Nong, the Secretary for Economy and Finance, stated that details will soon be announced. Casino Tenders a Sensitive Subject According to Inside Asian Gaming, Lei spoke to the media after this […]
Industry
December 16, 2021
Junkets to Survive Without Chinese Gamblers, Asserts Expert
Davis Fong, a gaming professor and former lawmaker in Macau, believes that junket operators in the city can survive and thrive. All they need to do is redirect their attention away from mainland Chinese customers to Hong Kong and Southeast Asia, IAG reports as it cites Fong and his outlook for the industry in the […]
Industry
December 15, 2021
Analysts Lower New-Year Outlook for Macau by 30%
Morgan Stanley is now less optimistic about Macau’s continued strengthening in 2022. As a result, the financial firm’s analysts have reduced the expected gross gaming revenue (GGR) for the city by 30% to $15 billion. Macau Has a Long Road Ahead Although the institution noted a “choppy recovery,” it said that there are still “overhangs” […]
Industry
December 14, 2021
Macau GGR Slips, Operators Try to Shrug Off Problems
The gross gaming revenue (GGR) in Macau fell by 12% week-on-week. This was due to an increase in the COVID-19 infection rates in mainland China, as well as a collapse of the local VIP sector following Suncity Group’s troubles. Macau GGR Still Unstable The weekly GGR update by Bernstein analysts Vitaly Umansky and Kelsey Zhu […]