Industry
October 14, 2022
Macau Casinos Debt Rises to $24B Due to Q32022 Losses
The casino industry in Macau has suffered for a long time from China’s restrictive zero-COVID policy and it shows vividly in the financial results reported for the third quarter of 2022. Macau Casino Industry Debt May Rise to $24 Billion on the Back of Losses in Q32022 According to the results reported by the casino […]
Legal
October 12, 2022
Suncity Trial Focuses on the Casino Marketing Department
The legal proceedings against the former chief executive officer of Suncity Group Alvin Chau, who was accused of illegal gambling, money laundering, criminal association, and fraud along with 20 other individuals, continued on Monday when the prosecution called nine witnesses to testify. All of them worked in the marketing department of Suncity Group. Suncity Marketing […]
Industry
October 3, 2022
Macau’s GGR Declined by 50% in September
Macau’s struggles are far from over. In September, the special administrative region recorded 50% lower gross gaming revenue than it did for the same period last year, Macau’s Gaming Inspection and Coordination Bureau reported. However, there is hope on the horizon as Macau’s GGR shows signs of recovery. Macau’s Industry Experiences Setbacks Macau’s gambling industry […]
Casino
September 30, 2022
Macau Officials Expect Over 20,000 Daily Golden Week Participants
The deputy director of the Government Tourism Office in Macau, Cheng Wai Tong, has predicted a minimum of 20,000 and up to 25,000 people will be attending the upcoming National Day Golden Week celebrations. The event will kickstart on Saturday, October 1 and it will end on Friday, October 7. What Will the National Day […]
Legal
September 29, 2022
Defendant Admits He Helped Suncity Customers Open Online Gambling Accounts
The court proceedings against a group of former Suncity Group employees continue with full force after Chinese authorities cracked down on the junket operator uncovering illegal gambling activities, side-betting operations, fraud, and other violations. Another Defendant Accused of Manipulation of Funds Was Heard by the Court In the course of the hearings, which have been […]
Business
September 29, 2022
SJM Resorts Selects Daisy Ho for Managing Director
SJM Holdings Limited’s subsidiary, SJM Resorts, announced a new senior leadership appointment. Daisy Ho Is SJM Resorts’ New Managing Director The company revealed on Wednesday that its Board of Directors appointed Ms. Daisy Ho Chiu Fung as managing director. The recent appointment complements Daisy Ho’s other key positions with SJM. Back in March 2019, she was elected […]
Casino
September 26, 2022
Macau Casino Stocks Surge After Macau Announces It Will Relax COVID Measures
Macau casino shares experienced a positive boost after the chief executive of Macau, Ho Lat-Seng, announced that Macau is going to accept tourist groups from mainland China again starting in November. Macau Casino Stocks Surge as COVID Travel Restrictions Are Relaxed Bloomberg reported that its Intelligence gauge tracking Macau’s six casino operators that have casino […]
Casino
September 23, 2022
Junket Agent Reveals He Ran Side-Betting System at Suncity VIP Room
The trial involving Macau’s junket operator Suncity continues with new revelations on side-betting practices. Cheong Chi Kin, who was close to former Suncity Group CEO Alvin Chau, has admitted to setting up a system for side-betting transactions. 21 Defendants, Including Alvin Chau, Are Answering Before the Macau Court 21 defendants along with Suncity Group founder […]
Casino
September 22, 2022
MGM Confident It Will Get New Casino License in Macau
MGM Resorts International, which has held a Macau casino license for the past 20 years, is confident it will acquire a license again in the new tender for casino concessions, which will be valid for the next 10 years. The Macao SAR Government announced the new tender at the end of July. MGM Is Among […]
Casino
September 19, 2022
Chau Knew of Multiplier Bet Schemes but Did not Participate
The first day of the trial against Alvin Chau at Macau’s Court of First Instance saw the former boss and founder of the Suncity Group deny any allegations of participating in multiplier bet schemes at casinos in Macau. Iceberg-Type Scheme to Hide GGR, Avoid Tax The trial against Chau and 20 other people was initially […]
