Legal
December 6, 2022
Macau Concessionaires File Compensation Claims Against Chan and Defendants
Macau casino concessionaires have filed legal compensation claims against Levo Chan, former CEO of junket operator Tak Chun Group, and several other defendants in connection with the case, which Macau’s Public Prosecution Office initiated at the beginning of August. Four Macau Casino Concessionaires Seek Compensation Totaling $16.8 million GGRAsia reported that Wynn Resorts (Macau), SJM […]
Industry
December 6, 2022
Macau to Reveal Satellite Casinos upon Signing Concessionaire Contracts
Satellite casinos are not out of the picture in Macau, and their names will be revealed very soon, said the SAR’s secretary for economy and finance Lei Wai Nong who spoke to the Legislative Assembly on Monday. Satellite Casino Numbers to Be Revealed at the Time of Signing with Concessionaires Moving forward, all satellite casinos […]
Business
December 1, 2022
Sands China Restructures Share Capital of Macau Subsidiary New Gaming License
Sands China Ltd, a Macau-based resort developer, and operator, has announced that it would restructure the share capital of its Macau subsidiary, Venetian Macau Ltd (VML), which detains its Macau gaming license in order to comply with Macau’s new gaming law. The restructuring of VML’s share capital will prepare the company for a new ten-year […]
Industry
December 1, 2022
Macau GGR Continues to Decline in November
Macau’s gambling industry has failed to experience the recovery the region’s government hoped for. According to the latest data, casinos in the special administrative region had gross gaming revenue of just $374 million. FY GGR Will Be Much Lower than Estimated The $374 million Macau concessionaires earned in November represent a 55.6% year-on-year decline. Furthermore, […]
Industry
November 29, 2022
Gaming-Linked Crime in Macau Continues to Drop
Macau has recorded 257 gaming-related crimes in the period through September 30, down 48.8% year-over-year. The number is far below the 502 crimes registered in the first nine months of 2021, and it comes as the Judiciary Police of Macau is amping up its efforts to suppress crime that originates from gambling operations. Macau Continues […]
Business
November 29, 2022
Wynn Macau Adjusting to Comply with New Gaming Laws
Considering this year’s changes that Macau made to its gaming laws concerning operators, Wynn Macau has had to make some adjustments in order to be compliant with the latest regulatory updates. Capital Restructuring at Wynn Macau The Wynn Resorts Macau (WRM) unit was subjected to a capital restructuring that answered the need for an increase […]
Industry
November 28, 2022
Macau Awards Six Casino Licenses for the Next 10 Years
The long-anticipated news on the Macau gambling front is here – the Macau SAR Government has awarded the casino licenses for the next 10-year period and 6 concessionaires will be conducting gambling operations in the Chinese special administrative region. The Same Six Concessionaires Get Casino Licenses for the Next 10 Years The Macau SAR Government […]
Casino
November 25, 2022
Emperor Entertainment Suffers Interim Losses Due to Macau Casino Closure
According to the interim results published by Emperor Entertainment Hotel Limited, the company suffered a major fall in revenue for the six months ending on September 30, 2022, when compared to the same period in 2021. Cessation of Macau Gambling Business Impacts Total Revenue Hong Kong-listed Emperor Entertainment Hotel Limited reported HKD 108.6 million ($13.9 […]
Casino
November 24, 2022
Macau May Require Concession Candidates to Invest More
The government in the special administrative region of Macau is reportedly asking concession applicants to increase their investment. The region’s gambling industry has been struggling for a while, which may be why Macau is demanding a more substantial guarantee from to-be concessionaires. Macau Reportedly Asked Companies to Invest More TDM Portuguese Radio first reported that […]
Industry
November 21, 2022
Macau 3Q22 Gaming Services Drop 73% vs 3Q21
Macau’s economic well-being has historically been somewhat tied to its tourism and hospitality industries. The recent Q3 financials for the region reflect that perfectly. Q3 Results Affected by Recent Lockdown Macau’s gaming services exports dropped by 72.5% in the third quarter of 2022, compared to the same period last year. This fed an overall 46.7% […]
