Business
January 2, 2023
Sands China Set to Hand Out Discretionary Allowance to 99% of Staff
After announcing a series of changes that would help it comply with Macau’s gaming regulation upgrades at the beginning of December, Las Vegas Sands’ Macau-located arm, Sands China Ltd, has prepared a discretionary allowance for 23,000 of its employees. All eligible full-time staff members will receive the payment on January 18 as a token of […]
Industry
January 2, 2023
Macau Sees GGR Plunge by 50% in 2022
The numbers reflect the continued pressure that uncertain regulation and reemerging COVID-19 outbreaks applied on the industry, nobbling concessionaires’ ability to run their business as usual and drive meaningful results from gaming operations. Macau Clocks Its Worst Year Since 2004 Gross gaming revenue was posted at MOP$42.2 billion for the full year, or roughly around […]
Industry
January 2, 2023
Macau Hopes to See Visitations Go Up to 40,000 a Day
The economy may be in the doldrums, but Macau has a plan – it involves dramatically increasing the number of tourists who come to visit the Special Administrative Region in 2023. This has been confirmed by Maria Helene de Senna Fernandes, the head of Macau’s Government Tourism Office. Tourism in Macau Braced to Pick Up […]
Industry
December 22, 2022
Morgan Stanley: Macau GGR to Surpass $22B in 2027
Macau’s gross gaming revenues have taken quite a hit. The COVID-19 pandemic and the sporadic resurgence of the virus have devastated the tourism sector in the special administrative region, by extension greatly impacting gambling. Analysts were somewhat hopeful about the industry’s recovery in the second half of 2022 but sadly, it continued to underperform despite […]
Casino
December 20, 2022
MGM Resorts to Invest $2B in Macau Following New Concession
International casino operator MGM Resorts has announced its plans to invest two extra billion in its Grand Paradise casino in Macau, China. Despite the recent setbacks experienced by the special administrative region’s gaming industry, MGM Resorts continues to firmly believe in the region’s potential. MGM Resorts Will Support Its Macau Subsidiary MGM Resorts’ Chinese subsidiary, […]
Business
December 19, 2022
Wynn Macau to Invest $2.2B Following Changes in Concessions
Wynn Macau Spending Big Wynn Macau announced it’s planning an investment of MOP17.8 billion (approximately $2.22 billion) in the special administrative region (SAR). A big piece of these investments is going to be focused on expanding revenue through non-gaming enterprises. This is a general trend that’s expected, as the SAR announced that broadening their non-gaming […]
Industry
December 19, 2022
Macau Casino Concessionaires Sign Contracts for the Next 10 Years
On December 16, Representatives of Galaxy Entertainment Group Ltd., MGM China Holdings Ltd., Sands China Ltd., Wynn Macau Ltd., Melco Resorts & Entertainment Ltd., and SJM Holdings Ltd. and the Macau authorities attended an official ceremony where they signed their license contracts for the next 10-year period. The official event was followed by press conferences […]
Industry
December 14, 2022
Macau Concessionaires to Sign Ten-Year Extension on Friday
The Macau SAR government is preparing to sign the new 10-year gaming contracts extension with the city’s six incumbent concessionaires, Inside Asian Gaming reported. The signage is expected to take place on Friday, and it is the dawn of a new era for the regulated gambling sector in the Special Administrative Region. The next ten […]
Industry
December 12, 2022
Macau Outlines Separate Gaming Zones for Foreign and Chinese Visitors
Macau’s Executive Council provided further details on Friday as to how gambling operations in the Special Administrative Region (SAR) will work moving forward. Concessionaires will have to establish areas that cover non-Chinese and Chinese visitors, with both gaming spaces being exclusive and dedicated. Macau Goes with Segregated Approach to Foreign and Domestic Gamblers Non-Chinese […]
Casino
December 6, 2022
Sands China Inks $377M Trademark Renewal with LVS
There is a lot of uncertainty about the region’s recovery, however, continued developments and large investments by operators are enough to make some more optimistic. Sands China is the latest licensee that’s had to make some changes to comply with Macau’s gaming law updates, and this trademark agreement is a natural step in the company’s […]
