Industry
December 21, 2020
Gaming Law Advisor Antonio Lobo Vilela Leaves His Post in Macau
Macau law specialist Antonio Lobo Vilela is leaving his current post as senior advisor to the city’s Secretary for Economy and Finance at the end of this year. He has been at this post since 2016 and he is currently the official who supervises the city’s gaming market. Macau Gaming Law Expert António Lobo Vilela […]
Industry
December 20, 2020
Macau November Tax Revenue Up 203% Compared to October
A glimmer of hope for the fading casino industry in Macau was given by the latest financial data release by the city’s Financial Services Bureau, showing Macau government collected two times more in tax revenue in November compared to October. November Twice as Good as October The government in the Special Administrative Region (SAR) of […]
Casino
December 16, 2020
The Londoner Macao Set to Open Ahead of the Chinese New Year
Sands China is planning on opening its newly-rebranded The Londoner Macao property, GGRAsia reported, noting the availability of bookings for stays at the resort starting from January 22. Phase 1 Celebration According to the press release issued by the Chinese subsidiary of Las Vegas Sands (LVS) on Tuesday, the company is scheduling an official ceremony […]
Industry
December 15, 2020
Wynn CEO: Macau Operators Would Benefit From Functioning US-China Relations
Wynn Resorts CEO Matt Maddox told the AGA that improving the tense relations between the US and China could benefit Macau’s casino operators. Softening the US-China Relationship is Crucial The tense relationship between the United States and China could improve under the Biden administration, according to Matt Maddox, Wynn Resorts CEO. Better relations would benefit […]
Casino
December 13, 2020
Morgan Stanley Expects Macau to Extend Concessions
Morgan Stanley expects the Macau Government to grant extensions to 2025 for its concessionaries due to the economic effects of the COVID-19 pandemic. Analysts Expect Extension Morgan Stanley analysts believe that the Government of Macau will likely drop its initial plans to hold an open tender for gaming licenses before June 2022. Instead, the country […]
Legal
December 12, 2020
Macau Police Raided Illegal Online Gambling Ring, Arrested 4
Illicit online gambling websites were at the center of the illegal gambling operation crackdown by Macau’s Judiciary Police Thursday. The police briefing also revealed the websites were set up to use several local servers located at a third-party rented from a Macau telecommunication firm data center. Arrests and Seizure of Evidence The Judiciary Police in […]
Industry
December 10, 2020
Macau Reports 71.1% YOY Drop in GGR Taxes
Macau will collect an estimated $3.70 billion in taxes from casino gambling operations in 2020, or a 71.1% less than the originally expected amount. Macau’s GGR Crashes in 2020 Dealing with the worst economic downturn in recent history, Macau’s government has reported that it expects to collect an estimated MOP29.46 billion ($3.70 billion) in taxes […]
Industry
December 6, 2020
JP Morgan: No Room for Panic for Macau Casinos for Now
Macau gambling industry is still struggling to rebound from the coronavirus impact and the subsequent restriction measures resulting in $27 billion less revenue this year, when a new existential threat is on the horizon: the adoption of the digital currently backed by the People’s Bank of China (PBC), the digital yuan. Junkets Facing an Existential […]
Legal
December 2, 2020
Macau Regulator Denies Reports of E-Yuan Gaming Options
After a report by Bloomberg that Macau’s casinos will replace FIAT currency with e-yuan, the city’s gambling regulator has denied the rumors outright. No E-Yuan for Macau’s Casinos, Says Regulator A recent report by Bloomberg has suggested that the Gaming Inspection and Coordination Bureau (DICJ) in Macau may be preparing to introduce the e-yuan as […]
Casino
November 29, 2020
Gaming-Related Crime Levels in Macau Drop Along with Footfall
Gaming-related crime levels in Macau for the first 9 months of 2020 registered a year-on-year decrease in a number of categories, the latest data released by the Office of the Secretary of Security showed. Unlike in previous data releases by the authorities, the latest announcement did not provide an overall figure for gaming-related crime during […]