Casino
September 6, 2020
Macau Seeks Recovery Beyond Casino Gambling, Boosts Tourism
The COVID-19 lockdown has served as a wake-up call for Macau to begin considering alternative sources of revenue other than gambling for its economy. A family-friendly approach to tourism is the plan local authorities are pushing ahead with. Macau Cuts Dependence on Gambling, Focuses on Tourism Macau has been trying to break away from its […]
Business
September 1, 2020
PokerStars Reportedly Exiting China, Macau, and Taiwan
PokerStars may be exiting the China, Macau, and Taiwan market, suggests an email posted on the Two Plus Two poker forum yesterday. In an earnings call last week, the parent company Flutter Entertainment did note that it switched off a small number of jurisdictions. Is PokerStars Withdrawing from China, Macau, and Taiwan? PokerStars may be […]
Casino
August 2, 2020
Macau Gambling Industry Freefall Continues, July Revenues Sink
Casinos in Macau continue to suffer, a report of the Gaming Inspection and Coordination outlined. Gambling revenue in the Special Administrative Region (SAR) dropped again in July, 3.5% year-on-year, due to a slowdown in the Chinese economy, travel and visa restrictions, and tempered demand for gambling from high-rollers, as well as the trade war between […]
Industry
July 28, 2020
Macau Police Detained 3 People Suspected of People Smuggling
The Judiciary Police in Macau arrested 8 suspects Saturday for alleged participation in people-smuggling operations, a Monday morning special press conference of the Judiciary Police in the Special Administrative Region (SAR) outlined. 5 other suspects were arrested in Zhuhai in the joint operation of the Judiciary Police, Macau Customs Service and the Zhuhai Public Security […]
Business
July 27, 2020
LVS Waives Rents for Mall Tenants in Macao and Singapore
Las Vegas Sands Corp. filed information to the Securities and Exchange Commission (SEC), revealing the company waived for the first six months millions in rents to mall tenants in Macao and Singapore. The total amount of rents waived to support its tenants is $170 million and accounts for most of the decline in mall revenue […]
Casino
July 27, 2020
Macau: 25,000 Casino Employees Tested for COVID-19
Some 25,000 casino employees were tested for COVID-19 in Macau. While the country is near the bottom of the list with total COVID-19 cases, all 25,000 tests came back negative. More Than 25,000 Casino Employees Tested for COVID-19 in Macau Late last week, the Macau Health Bureau has announced that it tested more than 25,000 […]
Casino
July 23, 2020
LVS: Second Quarter Net Loss of Nearly $1B
Las Vegas Sands (LVS) issued its second quarter financial results Wednesday, giving investors a taste of what the material impact of the ongoing health crisis onto the largest casino operators was. LVS posted a net loss of $985 million for the three months ending June 30, a huge drop from the more than $1.1 billion […]
Casino
July 14, 2020
Guangdong Eases Travel to Macau, Lifts 14-Day Quarantine
The restrictions related to travelling from mainland China to Macau moved one step closer to easing after the Chinese province of Guangdong announced today it will be lifting the 14-day mandatory quarantine for travelers from Macau, effective July 15. Small Step in the Right Direction The announcement from Guagdong is a move in the right […]
Casino
July 12, 2020
Hong Kong Still Slow to Lift Traveling Restrictions to Macau
The government in Hong Kong is trying to introduce a screening process that would allow officials to clear some residents for travel to whitelisted locations, including Macau. Hong Kong’s Health Code Implementation Delayed Again Hong Kong will most likely need more time to implement the “health code” which would allow the government to monitor citizens […]
Casino
July 6, 2020
Morgan Stanley: Macau Casinos Face Worst Ever Quarter Results
The financial results from the second quarter of 2020 for the Macau casinos are yet to be announced but Morgan Stanley already painted a picture of doom and gloom, estimating the industry is on course for more than $1 billion loss in Q2. June Casino Revenue Down Last week the Gaming Inspection and Coordination Bureau, […]