Industry
September 15, 2021
Macau Gambling Stocks Deteriorate Following Newly Announced Restrictions
The top gaming stocks in Macau lost $18.4 billion in market value today, Wednesday, September 15, which is a record-breaking number. The loss in market value is a result of the new tight restrictions on gaming operators that officials have announced. One of the changes, if approved, includes the constant supervision of companies by representatives […]
Industry
September 15, 2021
Macau Contemplating Putting a Stop to Casino Sub-concessions
When Macau first introduced legal casinos at the beginning of the century, three concessions were going to be allowed. Then, through some reshuffling and bureaucratic magic, three became six, with the latter three being authorized via sub-concessions. Now, as the city explores massive changes to its gaming laws, the idea of sub-concessions could go away […]
Casino
September 13, 2021
Macau Slot Machines to Get a Feature Not Every Gambler Will Like
Responsible gaming continues to be the leading topic in the gaming industry around the world. Land-based and online casinos are expected by regulators to be more proactive at protecting gamblers from themselves. Macau is making changes to its gaming industry, as well, introducing the new Electronic Gaming Machine Technical Standards version 2.0 that went live […]
Casino
September 9, 2021
Sands China Experiences $125-Million Net Loss in August
Sands China Ltd, a Macau gaming concessionaire and the Asian arm of Las Vegas Sands, states that it fell to a $125 million net loss and $14 million adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) loss in the month of August. According to the company, the main reason behind the losses is the […]
Casino
September 2, 2021
Macau’s GGR Drops in August, but Recovery Could Be Coming
As Macau continues to struggle with its COVID-19 recovery, the numbers are much lower than previously expected. New bouts of the coronavirus, including through the Delta variant, are hurting efforts to rebound and August didn’t bring much relief. According to analysts, September won’t be any better, either, but October could finally result in a welcome […]
Industry
August 26, 2021
Hong Kong Customs Busts Major Money Laundering Operation
Five men have been arrested for money launder when trying to cross the Hong Kong-Zhuhai-Macau Bridge. Hong Kong customs officers claim that the men participated in operations that illegally transported over $22 million in cash that is believed to have been acquired through fraud. The case was reported by the Hong Kong Government itself. A […]
Industry
August 16, 2021
Macau Records Lowest Weekly GGR Since September 2020
Macau’s casinos have recorded the lowest weekly gross gaming revenue since September 2020. Macau Casinos’ Weekly GGR Down by 37% On Monday, Sanford C. Bernstein Ltd, an investment research and institutional asset management company, reported that there was a decline in Macau casinos’ weekly gross gaming revenue (GGR). Due to the pandemic, the GGR dropped 37% week-on-week, from […]
Industry
August 4, 2021
COVID-19 Testing in Macau Brings Unexpected Consequences
For more than a year, Macau did not have a single positive COVID-19 case. However, after four people tested positive with the Delta COVID-19 variant this week, the local government initiated mass testing. Reportedly, the testing resulted in a spike of players and employees leaving Macau, as well as a decrease in gaming stocks. Mass […]
Casino
August 2, 2021
SJM Resorts to Relocate 118 Table Games to the Grand Lisboa Palace
The Grand Lisboa Palace casino opened over the weekend, and this $5 billion project includes 150 new table games. To make sure that the casino provides its patrons with the best gaming experience, SJM Resorts intends to relocate 118 table games, including VIP baccarat, to the property. Grand Lisboa Palace, The $5 Billion Casino According […]
Industry
August 2, 2021
July Was a Good Month for Macau Casinos, but Trouble Could Be Coming
It is becoming apparent that Macau’s casinos have a long way to go before they can claim victory over the COVID-19 pandemic. The past couple of months have been a roller coaster for the gambling properties, and stability is likely still out of reach. July, however, was a good month, with the six casino operators […]