Tag: Gaming
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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 ... -
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 ...
