Casino
November 17, 2022
Alvin Chau Challenges Evidence Presented by Macau Judiciary Police
The case against Suncity Group former CEO Alvin Chau and 20 other defendants draws to a close as all testimonies from witnesses have already been heard and the final arguments are scheduled for November 21. Alvin Chau Challenges Evidence Presented by the Defense Ex-CEO of Suncity Group Alvin Chau and his lawyer have been challenging […]
Industry
November 16, 2022
Suppliers to Ask DICJ for New EGM Standards Deadline Extension
EGM Technical Standards 2.0 may not arrive in Macau as initially planned as some of the major operators are planning to request Macau’s Gaming Inspection and Coordination Bureau (DICJ) to consider a two-year deadline extension, reported Inside Asia Gaming. Industry May Ask for an Extension EGM Standards 2.0 which was published in early 2021 is […]
Industry
November 15, 2022
Further Adjustments Are Made to Macau Junket Law Before Approval in December
The Second Standing Committee of the Macau Legislative Assembly is going to review the Legal Framework for Operating Games of Chance in Casinos, which has been duped by the new junket law of Macau, on November 21. New Article Addition to Clarify What Junket Activities at Macau Casinos Entail At their next meeting taking place […]
Legal
November 14, 2022
Evidence on Suncity Group Proxy Betting Practices Presented in Chau Case
Proxy betting brought massive illegal profits to junket operator Suncity Group and its founder and former CEO Alvin Chau, according to Macau’s Judiciary Police (PJ). Suncity Group Handled over 62,000 Side Bets Between 2013 and 2021 Macau Business reported that during the court hearing of the case against Alvin Chau and 20 other defendants on […]
Casino
November 14, 2022
Macau’s Concessionaires Agree to Pay $12.5B Collectively in 10 Years
Macau is keen to get more bang for its license extensions concerning the casino industry in the Special Administrative Region over the next ten years. But before the administration grants any licenses, it would need some commitment on the part of concessionaires. One such commitment is for the six winners to invest a combined MOP100 […]
Casino
November 11, 2022
MGM Resorts Lends $750M to Macau Subsidiary
MGM Resorts agreed to provide its Chinese subsidiary with a loan of $750 million. The money will help MGM China push through the difficult times caused by the trouble in Macau’s gaming market. MGM Lent $750M to Its Chinese Arm MGM China has been struggling to deal with the ongoing situation in the special administrative […]
Casino
November 11, 2022
Galaxy Entertainment Group: Q3 Impacted by Casino Closures
Galaxy Entertainment Group (GEG) filed to the Hong Kong Exchange an announcement on certain unaudited key performance indicators for the quarter that ended on September 30, 2022. Revenue Slumped, Outperformed Industry GEG’s announcement revealed that the company and its subsidiaries registered in the third quarter of 2022 group net revenue of HK$2 billion ($255 million), […]
Legal
November 8, 2022
Alvin Chau Case Soon to Be Closed with Final Arguments Already Scheduled
Macau judicial authorities are aiming to close the case revolving around the ex-CEO and founder of Suncity Group Alvin Chau, scheduling the hearing of the final arguments from the defendants and prosecution for November 21. Macau Judge in a Hurry to Close Chau Case It seems like the judge responsible for the criminal lawsuit against […]
Industry
November 7, 2022
Macau Sets GGR Target for 2023 at $16B
The Specia Administrative Region government of Macau has submitted its forecast for next year’s budget. According to the local government, Macau should be able to generate around MOP$130 billion ($16 billion) in gross gaming revenue, or so the Legislative Assembly expects as per the latest submission by the government. It’s also the exact same amount […]
Business
November 4, 2022
APE to Help Jade Entertainment Secure Macau Footprint
Asia Pioneer Entertainment (APE) and Jade Entertainment have entered a new partnership that will allow both companies to benefit and expand their product offerings in Macau. Effectively, APE will deploy its advanced services and technical support with Jade Entertainment. Jade Entertainment founder and CEO Joseph Pisano welcome the opportunity to establish this fresh partnership between […]
