Industry
December 1, 2021
Melco Raises Concerns Over Macau’s Future Following Suncity Debacle
Melco Resorts and Entertainment Ltd’s Macau subsidiary stated in its third-quarter report that it could face increased risks from “interpretation and enforce” laws relating to gaming. Melco Resorts Finance Ltd is concerned that changes occurring in Macau’s gaming industry could cause issues for the entire market. Macau Gaming in Flux Melco Resorts Finance Ltd stated […]
Business
November 30, 2021
Suncity Denies iGaming Involvement as Alvin Chau Investigation Expands
The saga involving Alvin Chau and Suncity Group, the company that he turned into the largest junket operator in the world, is only getting started. As investigations continue in China and Macau, and possibly elsewhere, there’s no telling how deep the impact will be. For its part, Suncity denies all of the allegations, although convincing […]
Business
November 29, 2021
Suncity Boss Alvin Chau Arrested; Fallout Could Hit All Junkets
Alvin Chau, Suncity’s boss, has been detained in Macau, the world’s richest gambling market. The Wenzhou government has requested Chau’s extradition in order to face a string of criminal charges in Zhejiang. The government claims that Chau orchestrated a cross-border illegal gambling syndicate and warranted issuing an order for his arrest this week. Alvin Chau […]
Business
November 25, 2021
Macau Finds Casino Operators Can be Liable for Junket Partner Debt
On Wednesday, Macau’s Court of Final Appeal upheld a decision that found Wynn Resorts Macau jointly liable for $747,482 debt to a VIP, along with its junket partner, Dore Entertainment. Wynn isn’t satisfied with the outcome and Paulo Martins Chan, a former boss of the Gaming Inspection and Coordination Bureau (DICJ, for its Portuguese acronym), […]
Casino
November 23, 2021
Macau Sees Fewer Casino-Related Frauds in Nine Months of 2021
Macau’s gambling industry seems to be recovering, as attested by the number of casino-related frauds, which has almost caught up to pre-pandemic levels. According to the Office of the Secretary for Security cited by GGRAsia, there have been 164 attempts of casino fraud during the first nine months of the year. The numbers are comparable […]
Industry
November 17, 2021
Macau Authorities Still Struggle to Find a Solution for Casino Concessions
Ho Iat Seng, the chief executive of Macau, has stated that the government will try to re-tender the gaming concessions by June next year, but the option of extending the current terms of those concessions is still open. Ho commented on the situation during a late Tuesday press conference after his 2022 Policy Address in […]
Industry
November 9, 2021
November Starts Slowly for Macau’s Casinos as GGR Gains Little Ground
Macau daily casino gross gambling revenue (GGR), for the first week in November, was up 12% week-on-week. This was supported by significant recovery of visitor volume to the city. However, GGR was still “lighter than expected,” according to brokerage Sanford C. Bernstein Ltd on Monday. According to the firm, the average daily rate from November […]
Industry
November 1, 2021
Macau GGR Down in October, But Improvement Expected
Macau’s gross gaming revenue (GGR) took another hit last month, one of many the casino hub has seen over the past two years. With the return of certain COVID-19 travel restrictions in the region toward the end of September, there was less traffic to feed Macau’s gaming facilities in October. As a result, GGR dropped […]
Industry
October 26, 2021
Macau Gets a Small Boost in GGR, Could See More Growth
Macau didn’t see any significant uptick in traffic from Golden Week this month, but things improved slightly since then. The average daily gross gaming revenue (GGR) for the third week of October was a big improvement over the prior week, and more increases could be coming. The Macau Grand Prix will be held in November, […]
Industry
October 21, 2021
Industry Analysts Optimistic on Las Vegas Recovery
Put simply, 2020 sucked for the gaming industry. With COVID-19 forcing lengthy shutdowns of commercial activity everywhere, casinos took a major hit that is still being felt today. The good news, though, is that things are returning to a quasi-normal state in most areas, and Las Vegas, the US gambling capital, is on the road […]