Industry
October 19, 2021
Macau Suffers GGR Losses Post-Golden Week; Q3 Revenue is $1.6 billion
The daily gross revenue of Macau suffers major week-on-week declines in the period between October 11 and October 17. According to the Bernstein brokerage, the week-on-week decline is 37% to just $9.8 million (MOP79 million). The Daily Average Was 88% Lower Than October 2019 Analysts Kelsey Zhu, Vitaly Umansky and Louis Li noted in their […]
Industry
October 18, 2021
COVID-19 Pandemic Pushes Global Gaming Expo Asia to August 2022
In light of the ongoing COVID-19 pandemic, the annual Global Gaming Expo Asia was postponed to 2022. Organizers of the event which was planned for this November revealed that G2E Asia will return in August 2022. G2E Asia Postponed to August 2022 The first time when the Global Gaming Expo (G2E) Asia was held was […]
Casino
October 15, 2021
Macau’s Casinos Mandate Vaccination, Authorities Ready to Ease Up Restrictions
The coronavirus continues to hold the world of entertainment in its chokehold, with Macau casinos trying as best as they can to deal with surging numbers or, at least, ensure that they do not become areas of transmission of the disease. To this end, Macau’s casinos have made it mandatory for all staff members to […]
Industry
October 7, 2021
Macau’s New Casino Dividend Rules Could Suppress Growth, Assert Law Experts
Government officials and gaming regulators in Macau have been putting together a new framework for the city’s casino industry that was presented to the public last month. The draft rules immediately found resistance, with one rule, in particular, causing a lot of discord. The fallout was so great that casino companies saw their stocks lose […]
Industry
October 5, 2021
New Macau Gaming Laws Likely to Face Delays as COVID-19 Issues Continue
Frustration is the word of the day in Macau. 2020 was a disastrous year for the city’s casino market and, while 2021 has been substantially better, COVID-19 continues to cause problems. Recent positive tests have forced government and health officials to take a few steps backward on the road to recovery, and it doesn’t look […]
Business
September 29, 2021
Sands China Redeems $1.8 Billion in Senior Notes Two Years Early
Sands China has completed an exercise that allows it to reduce the weight of its leveraged debt. The Asian arm of casino operator Las Vegas Sands submitted a filing to the Hong Kong Stock Exchange (HKSE) yesterday, explaining that it had redeemed $1.8 billion in senior notes. The move comes on the heels of another […]
Industry
September 27, 2021
Macau’s COVID-19 Recovery Is about to Take a Nosedive
The upcoming Golden Week holiday period was supposed to provide Macau with an injection of much-needed revenue. The city and its casinos have been looking forward to this time of the year as a means to show that it has gotten COVID-19 under control. However, it apparently hasn’t and this spells disaster for Macau’s recovery […]
Industry
September 24, 2021
SJM Expects Macau to Cut the Casino License Validity Period to 10 Years
SJM Resorts officials are convinced fresh 2022 tenders are in line for all six operators that are currently in business in Macau. However, it is the company’s belief that the licenses will not last as long as they did before. When Stanley Ho’s monopoly on the gambling market was ended by Macau, which is at […]
Industry
September 23, 2021
Macau Gaming Investors, Operators Breathe Collective Sigh of Relief
COVID-19 was damaging to the global gaming community in more ways than one, but operators were somewhat given an opportunity to prepare. The roller coaster ride in performance was dragged out over more than a year, making it easier – but still unpleasant – for casino companies to adjust their activity. However, as bad as […]
Industry
September 20, 2021
Player Deposits at Macau Casinos Likely Safe with New Rules
Macau’s gaming industry is going through a metamorphosis of sorts right now that has more than a few people uneasy. The city is implementing new laws that will impact casino operators and their properties and one of the recommendations, in particular, has caused a lot of anxiety. Concerns over funds held by Macau’s casinos have […]