Tag: Gaming
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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 ... -
Las Vegas Sands 4Q revenue to rise amid tourism recovery: Dow Jones
Las Vegas Sands, a major player in the casino and resort industry, is set to announce its fourth-quarter earnings today [Macau time], with “a notable net ... -
More patrons trigger better casino service post-pandemic, survey finds
In 2023, more gamblers fostered better services at casinos, a survey hosted by the Macau Gaming Research Association (MGRA) aimed at generating Gaming Service Index (GSI) ... -
Upward trend to continue in Macau casinos
Macau’s gross gaming revenue (GGR) for the first 21 days of January 2024 totaled MOP13 billion ($1.6 billion). This resulted in an average daily revenue of ... -
LVS to spend additional $750M to revamp MBS
In a strategic move to capitalize on Singapore’s soaring room rates and a booming post-pandemic travel sector, Las Vegas Sands (LVS), steered by the late casino ... -
Citi, JP Morgan raise January gaming revenue forecast to MOP18 billion
Based on industry channels, Macau’s GGR for the first 14 days of January reached MOP8.6 billion, or an average gross gaming (GGR) revenue of MOP600 million ... -
MGM, Galaxy announce pay rise
Gaming operators MGM and Galaxy have announced a salary increment for all eligible team members, with effect from March and April, respectively. The pay rise is ... -
Slash in junkets a ‘normal market adjustment’
The slash in the number of Macau’s junkets is in line with the city’s development on economic transformation. Macau has again seen a reduction of licensed ... -
From besting Tetris AI to epic speedruns – inside gaming’s most thrilling feats
After 13-year-old Willis Gibson became the first human to beat the original Nintendo version of Tetris, he dedicated his special win to his father, who passed ... -
Casino revenues projected to slow down
Industry insiders foresee that gross gaming revenue (GGR) will face a slight deceleration, estimating a range between MOP540 million and MOP590 million per day. The full-month ... -
Gaming ops announce bonuses, pay rise
Gaming operators have announced a one-month discretionary bonus for all eligible non-management team members before the Chinese New Year. Over the weekend, Melco Resorts & Entertainment ... -
Local expert forecasts 2024 GGR to grow 15% from 2023
Local gaming industry expert and analyst Ben Lee has projected that local casinos’ gross gaming revenue (GGR) in 2024 should increase by some 15% when compared ... -
SJM to see positive cash flow in 2024
Fitch Ratings has revised the Outlook on SJM Holdings Limited’s (SJM) Long-Term Foreign-Currency Issuer Default Rating (IDR) to Stable from Negative as the outlook reflects the ... -
Number of junkets plunges to 18 this year
Macau has again seen a reduction of licensed junkets this year after figures from the government show the number of gaming promoters has been slashed to ... -
2023 GGR hits MOP183b, spurring increased investment
After three tumultuous years for the casinos, the sector experienced significant upturn in 2023 following the reopening of the borders. Macau’s casino revenues hit MOP183.06 billion ... -
Ho Iat Seng expects this year’s GGR to surpass MOP180 billion
The city’s gross gaming revenue (GGR) is expected to surpass MOP180 billion, Chief Executive Ho Iat Seng said on the sidelines of a celebratory event. After ... -
Gaming Citi: GGR in Christmas and New Year to grow
Macau’s gross gaming revenue (GGR) for the first 17 days of December may reach about MOP9 billion, Citi Research forecasted in a report based on the ... -
Newest, bluest resort on Las Vegas Strip aims to bring Miami Beach vibe to southern Nevada
A developer’s drive to open a Las Vegas Strip resort with a vibe echoing Miami Beach’s venerable Fontainebleau reaches reality this week, with the opening of ... -
Association data shows significant increase in gaming employees facing pressure
There has been a significant increase in gaming employees seeking assistance due to work pressures, said lawmaker Leong Sun Iok. Data from the Macau Gaming Industry ... -
Casinos face lowest trading levels since border reopening
Macau concessionaires are trading at rock-bottom valuations since earlier this week as operators were saddled with declines of at least 20% since the beginning of the year. ... -
LVS increases shares in Sands China
Las Vegas Sands is increasing its holdings in Sands China, the Las Vegas-based gaming company announced in a regulatory filing with the Hong Kong Stock Exchange ... -
Gaming recovery slightly slows in November to MOP16.04 billion
Macau’s gaming revenue reached MOP16.04 billion ($2 billion) in November. This figure represents a significant 435% increase compared to the same period last year when the ... -
MBS seeks $7.5B loan, LVS denies reports
Marina Bay Sands (MBS) intends to secure a loan of up to S$10 billion ($7.5 billion) as the luxury casino operator seeks to expand its hotel ... -
Mavs likely to end up in the hands of Las Vegas’ most powerful family
Mark Cuban in many ways has been the face of the Dallas Mavericks franchise since he bought the club in 2000, so the news that he ... -
Mark Cuban working on $3.5B sale of Dallas Mavericks to Sands casino family: source
Dallas Mavericks owner Mark Cuban is working on a deal to sell a majority stake in the NBA franchise to the family that runs the Las ... -
Las Vegas union hotel workers ratify Caesars contract
Las Vegas hotel union workers voted overwhelmingly yesterday [Macau time] to approve their contract agreement with casino giant Caesars Entertainment, signaling an end to lengthy labor ... -
November’s premium mass revenues surge 37% over 2019 levels
The premium mass gambling segment is experiencing a 37% increase in the average bet per player, up to HKD22,251 this November, compared to the same month ... -
Galaxy to host 50 concerts and 250 MICE events in 2024
Gaming operator Galaxy Macau plans to host 50 concerts and 250 MICE events in 2024 as part of its pledge to diversify its non-gaming offerings. During ... -
MGM optimistic on further market growth amid decoupling
Macau’s recovery is set to continue amid discussions on broader macroeconomic issues in China, according to Hubert Wang, president and chief operating officer of MGM China. ... -
New Edition announces Wynn Las Vegas residency from late February
R&B group New Edition will bring their New Jack Swing tunes to Las Vegas early next year. The Grammy-nominated sextet announced that New Edition: Las Vegas ... -
October gaming revenues surge as city benefits from Golden Week
In October, the city’s casino revenue surged to another all-time post-pandemic high, as tourists flocked to Macau during the National Day Golden Week. Data released by ... -
Gov’t reviewing casino ops’ 2024 plans
The city’s six gaming operators have submitted their work plans for the upcoming year, and the government is scheduled to review them within the next 60 ... -
Junkets tax plunges 92% to MOP3.5 million
Revenues from junkets’ tax paid to the government has plunged 92.5% to MOP3.5 million amid the junket crackdown and low gross gaming revenue (GGR) figures in ... -
Macau on track to hit another post-pandemic high in October
Macau has recorded MOP14.6 billion in gaming revenues as of Monday, according to investment bank JP Morgan, which shows that the casino sector is slated to ... -
LVS revenue and profits rise sharply, mostly on Macau upturn
In Q3 2023, Las Vegas Sands Corp (LVS) showcased a promising recovery, particularly in its Macau operations, buoyed by the resurgence in travel and tourism following ...
