Tag: Gaming
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SJM revenue surges 74.5% in Q1
SJM Holdings saw a significant increase of 74.5% in its net gaming revenue, amounting to HKD6.46 billion. In an announcement, the gaming operator highlighted that the ... -
Wynn posts strong Q1 results and places focus on new projects
Wynn Macau Ltd. reported a 14.3% increase in adjusted property earnings before interest, taxes, depreciation, amortisation, and restructuring or rent costs (EBITDAR) in the first quarter ... -
South Korean high roller takes top spot in Golden Week gaming
For the first time ever, the top player in Macau’s premium mass gaming rooms during the Golden Week holiday period was not Chinese. According to a ... -
MGM executes strong first quarter performance with record-breaking revenues
MGM China Holdings Limited has reported record-breaking financial results for the first quarter of 2024, outperforming the industry’s recovery in Macau. The casino operator saw net ... -
Casino revenue surpasses expectations in April
Macau’s casino gross gaming revenue (GGR) in April exceeded market expectations and historical trends, according to industry analysts. The region reported MOP18.55 billion in GGR for ... -
Melco to expand portfolio in Sri Lanka, gains recovery in Q1
Melco Resorts & Entertainment Limited is working with John Keells Group in Sri Lanka to develop a groundbreaking integrated resort in central Colombo, with an investment ... -
Macau casinos poised for boost as China eases visa policies: Goldman Sachs
The casino industry in Macau is set to benefit from the Chinese government’s decision to launch a multi-entry visa for tour groups between Macau and Hengqin, ... -
Malaysia in talks with tycoons over casino project to revitalize Forest City
Malaysia has engaged in preliminary talks with billionaires to open a casino in the USD100 billion Forest City development near Singapore, according to sources who asked ... -
Morgan Stanley forecasts GGR recovery for May Golden Week
Morgan Stanley has forecast gross gaming revenue (GGR) for Macau’s upcoming May Day Golden Week could reach between MOP800 to 850 million per day, translating to ... -
Morgan Stanley cuts forecast for Sands China
Investment bank Morgan Stanley has issued a research report lowering its forecast for Sands China Ltd., citing a decline in the casino operator’s mass market share ... -
Las Vegas Sands eyes Sheraton, Londoner refurbishment to beat Venetian revenues, traffic
Significant renovation projects are underway at Sheraton Grand Macao and The Londoner Macao, with Sands China announcing the second casino at The Londoner Macao will undergo ... -
VIP revenues reach 25% of Q1
VIP baccarat revenue in Macau for the first quarter of 2024 reached approximately MOP14.38 billion, according to data from the Gaming Inspection and Coordination Bureau (DICJ). ... -
Gaming Citigroup forecast gaming revenue to ‘look resilient’ in April
Business trends in the Macau gaming sector appear to be resilient in April, according to a recent memo from Citigroup, “We won’t be surprised if Macau’s ... -
MGM gains an edge with early smart table adoption: Citibank
MGM China has gained a technological advantage over its Macau competitors by being an early adopter of smart gaming tables, according to analysts at Citibank. Citibank ... -
Analysts predict April gambling revenue to reach up to MOP 18.7b
The growth trajectory of Macau’s gaming industry remains uncertain, with only modest growth observed in recent months, according to analysts from Jefferies. The sector is facing ... -
Smart tables drive faster play and increased revenue in Macau: Citigroup
The use of “smart” gaming tables fitted with radio frequency identification (RFID) technology has the potential to significantly boost casino revenue in Macau, according to a ... -
Gaming results in March meet expectations
Revenues from local casinos last month have aligned precisely with forecasts by several consulting, financial and investment institutions. According to an official release by the Gaming ... -
Melco narrows losses in 2023, announces line up of non-gaming offers
Melco International recorded net revenues of HKD29.53 billion, an increase of 179.5% compared to HK$10.57 billion recorded in the corresponding period of 2022. Data from the group shows ... -
The Tropicana Las Vegas, a mob-era casino, closes after 67 years
In the 1971 film “Diamonds are Forever,” James Bond stays in a swanky suite at the Tropicana Las Vegas. “I hear that the Hotel Tropicana is ... -
Casinos expected to close March with receipts of MOP19 billion
Local casinos are anticipated to close this month with earnings ranging between MOP19 to 19.5 billion, Citigroup and JP Morgan said in separate statements. According to ... -
MGM, Wynn resume dividend distributions
Investment firms are optimistic in view of last week’s dividend resumption announcements from MGM China and Wynn Macau, marking their first dividend distributions since the onset ... -
Wynn emerges as market-share leader in March: Citi
Wynn Macau Ltd, the operator of Wynn Macau and Wynn Palace, emerged as the market-share leader in the March survey, capturing 25% of the observed wager ... -
Beijing urges citizens in Singapore to avoid gambling
The Chinese embassy in Singapore has urged Chinese citizens in the city-state to stay away from gambling, reiterating that cross-border gambling violates Chinese laws – a ... -
Casinos to embrace RFID technology by year-end
All major casino operators in Macau will soon have radio frequency identification (RFID) technology integrated into all table games as part of an effort to improve ... -
Daily GGR MOP6.1b for first 10 days of March
Macau’s gross gaming revenue (GGR) for the first 10 days of March was approximately MOP6.1 billion, with an average daily GGR of around MOP610 million. Citi ... -
SJM Holdings narrows loss in 2023 as earnings top HKD20b
Gaming operator SJM Holdings Ltd. reported a loss in 2023, attributing it to the sectors recovery, after recording a full-year loss of HKD2.01 billion, from nearly ... -
February GGR hits MOP18.49 billion
The gross gaming revenue (GGR) of Macau’s casinos increased 79.1% year-on-year in February, reaching MOP18.49 billion. This figure fell slightly below projections from JP Morgan Securities ... -
Melco’s market share loss prompts management shake up
Casino operator Melco Resorts & Entertainment experienced a decline in market share in Macau in 2023, which was a contributing factor in the decision to change ... -
Galaxy revenues hit HKD36b in 2023, to open office in Bangkok
Galaxy Entertainment Group (GEG) recorded a revenue surge in 2023, hitting HKD35.7 billion, up 211% compared to the year prior. The gaming operator’s EBITDA for 2023 ... -
No timeline yet on new Melco COO following Sisk’s departure
No timeline has yet been set for the replacement of David Sisk, Melco Resorts and Entertainment’s chief operating officer, a spokesperson of the group said, in ... -
Fitch forecasts further improvement supported by steady tourism recovery
Fitch Ratings anticipates 15% economic growth for Macau this year, with gaming tourism recovery underpinning its expectations of strong economic growth for Macau in 2024. The ... -
Gangs shift from Macau casinos to poorly regulated countries: report
Casino criminals have moved from Macau to other parts of Asia, according to a report issued by The Weekend Australian. The report has noted that gangs are setting ... -
February GGR might top MOP19.8b amid casino stocks surge
Shares of MGM China Holdings Ltd. surged 10% in Hong Kong, reaching their highest level since June 2021. Galaxy Entertainment Group Ltd. and Wynn Macau also ... -
January GGR beats analysts’ projections as revenues surge 67%
Macau’s casino revenues surged 67% year-on-year in January to MOP19.3 billion, beating analysts’ estimates as the sector continues its recovery ahead of the Chinese New Year. ... -
January GGR beats analysts’ projections as revenues hit MOP19b
Macau’s casino revenues surged by up to 67% year-on-year in January to MOP19.3 billion, beating analysts estimates as the sector continually recovers ahead of the Chinese ...
