Casino
July 4, 2020
Macau: Financial Intelligence Office Reports SRTs Decreasing
Casinos’ and other games of fortune operators in Macau’s number of submitted suspicious transaction reports (STRs) for the first half of 2020 fell significantly, showed an official report by the Financial Intelligence Office in the Special Administrative Region (SAR). The total number of reported cases for reviewing to the office amounted to 947, 31.2% down […]
Business
June 28, 2020
GGRAsia: Macau Junket Rooms May Stop Operations, Lay Off Workers
In a bid to weather what has been an unending crisis, Macau’s junket operators could resort to shuttering their gaming rooms and laying off employees en masse. Macau’s Junket Operators Face Layoffs and VIP Gaming Rooms Suspensions Macau’s entire business model was first disrupted when COVID-19 hit back in February, forcing a two-week closure. With […]
Casino
June 15, 2020
New Beijing COVID-19 Cases Unlikely to Disrupt Recovery
According to Hoffman Ma Ho Man the newly-reported cases of COVID-19 will not disrupt the overall recovery and lifting of border restrictions. Still, lifting those restrictions cannot be predicted with accuracy, Ma cautions. COVID-19 Cases in Beijing Not Very likely to Disrupt Overall Recovery GGRAsia, the leading casino business journal covering Asia’s gambling industry, has […]
Casino
June 12, 2020
Wynn Macau Proposes New Series of Senior Notes, Releases Q2 Preliminary Results
Wynn Resorts is considering issuing a series of senior notes, reveals an 8-K filing by the gaming and hospitality operator to the US Securities and Exchange Commission (SEC) Thursday. As per the information submitted, Wynn Macau is proposing to conduct an offering of the Notes to Professional Investors, with its completion subject to market conditions […]
Industry
June 1, 2020
Singapore and China Agree to Fast-Lane Essential Business Travel
Singapore’s Ministry of Foreign Affairs announced in a press release on its website Friday, China and Singapore authorities have struck an accord regarding the resumption of essential travel between the two countries in early June. The meeting that was also attended by representatives from the fields of education, trade and industry, customs, immigration, transport and […]
Casino
June 1, 2020
Macau’s Casino Revenue Plummets by 93.2% Sending a Warning
As Macau’s results suffer in May and fall by 93.2%, Las Vegas is taking a cautious step towards reopening. Macau Sees May Figures Plummet by 93.2% With Las Vegas planning a phased reopening of casino business later this week, Macau’s casino revenue in May should serve as a warning sign as to how realistic a […]
Casino
May 26, 2020
Stanley Ho – Macau’s Gambling King Passed Away at 98
The popular gambling king, Stanley Ho passed away at 98. The Macau gambling pioneer’s fortune continues to grow with the help of his family and his legacy lives. Macau’s Gambling Pioneer Stanley Ho Has Passed Away Stanley Ho, one of Asia’s richest men and creator of the largest gaming empire, died at the age of […]
Casino
May 20, 2020
Steve Wynn: Airlines and Travel Restrictions Defining the Future of Las Vegas
Steve Wynn, the owner and former CEO of the casino and hospitality operator Wynn Resorts, strongly believes there are two main factors that influence the re-opening of the industry in Las Vegas: airlines and lifting travel restrictions from China. In an interview with Fox Business, a subdivision of Fox News Media, the 78-year-old casino magnate […]
Casino
May 7, 2020
Wynn Resorts Revenues Materially Impacted by Casino Closures
Wynn Resorts issued today its first quarter financial results, posting 42.3% drop in operating revenues, due to the closure of its properties, in February in Macau, and from mid-March in the USA. Revenue Impact Material First quarter revenue for the company fell to $953.7 million, from $1.65 billion for Q1 2019, nearly $700 million less, […]
Casino
April 26, 2020
Gaming Regulator in Massachusetts Turns to Macau Experience for Re-Opening of Casinos
Massachusetts Gaming Commission started researching in detail what the process of re-opening the state casinos would require in terms of safety measures, based on the experience from casino-operating companies in Macau. Closure Period Not Over Yet Casinos in Massachusetts have been shut since St. Gov. Charlie Baker has issued his order March 15, to close […]