Tag: Gaming
-
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 ... -
Mass-market baccarat on the rise
The city’s VIP baccarat generated MOP11.767 billion of GGR in the third quarter (Q3), down 3.2% from MOP12.157 billion in Q2, and accounted for 24.1% of ... -
Galaxy clarifies no plans to re-enter Philippine market
Galaxy Entertainment Group clarified it is not planning to re-enter the Philippine market, following reports that it is contemplating developing a resort in Boracay. In a ... -
Casino revenues for first 8 days of October at MOP6.65 billion
The Golden Week has seen an estimated casino floor revenue of MOP6.65 billion, according to JP Morgan Securities (Asia Pacific) Ltd. In a memo, the brokerage ... -
Powerball jackpot up to $1.4 billion after no one matches all the numbers and hits it rich
The Powerball jackpot climbed to an estimated $1.4 billion after no players matched all six numbers and hit it rich yesterday [Macau time]. The winning numbers ... -
Las Vegas hospitality workers permit union to call strike against hotels, casinos
Tens of thousands of Las Vegas hospitality workers fighting for new union contracts voted yesterday [Macau time] to authorize a strike that could impact more than ... -
MGM Resorts computers back up after 10 days
MGM Resorts brought to an end a 10-day computer shutdown prompted by efforts to shield from a cyberattack data including hotel reservations and credit card processing, ... -
Casino players not deterred amid stiff economic headwinds: Citi
According to Citigroup (Citi), casino players “are not going to be deterred by anything less than a direct-hit typhoon or a ‘black’ warning-level rainstorm.” This assessment ... -
High rollers back on gaming table as junket agents return
The casino’s VIP sector is “surprisingly strong due to the return of the junket agents” under a new arrangement to lure high-rollers to the gaming tables. ... -
FBI investigates cybersecurity issue at MGM, casinos and hotels stay open across US
Casino operator MGM Resorts International said that resorts are open and an investigation is continuing after what it called a “cybersecurity issue” led to the shutdown ... -
Cybersecurity issue prompts computer shutdowns at MGM properties across US
A “cybersecurity issue” led to the shutdown of some casino and hotel computer systems at MGM Resorts International properties across the U.S., a company official reported ... -
September GGR likely to be down 6%: Morgan Stanley
September’s gross gaming revenue “isn’t going to wow anyone, not only due to seasonality (a shoulder season between the summer holidays and October Golden Week), but also ... -
Melco: Operational capacity in place to meet growing customer demand
Labour supply issues at Melco have now mostly been resolved as Melco opens its doors wider to meet the growing customer demand in Macau, chairman and ... -
Definitely bigger than Vegas, again: Macau GGR increases 7-fold in August
The city’s casino recovery is sustaining its momentum, with gaming revenue in August soaring a staggering 686% from a year earlier to the highest level since ... -
UM academic expects 2023 GGR to reach MOP180b
A University of Macau (UM) academic has estimated this year’s gross gambling revenue (GGR) will reach MOP180 billion, higher than the government’s expectation of MOP130 billion. ... -
Citigroup: High rollers back on city’s gaming tables
High rollers seem to have their bets back on the games of chance in Macau. A weekly channel check from Citigroup noted that it has observed ... -
Galaxy posts HKD15b revenue, announces overseas business development offices
Galaxy Entertainment Group posted net revenues of HKD15.7 billion in the first half of the year, up 141% year-on-year, while its adjusted EBITDA was HKD4.4 billion, ... -
JP Morgan forecasts August to hit another high in gaming revenue
Analysts from the financial services firm JP Morgan Securities (Asia Pacific) Limited are forecasting that August will break the gross gaming revenue (GGR) record that was ... -
Casino revenues at MOP3.2b so far: JP Morgan
Gross gaming revenue (GGR) for the first six days of August stood at MOP3.2 billion, a figure slightly lower than the previous month, investment bank JP ... -
Melco losses narrow as revenue jumps to USD948m
Melco Resorts & Entertainment’s operating revenue for the second quarter of 2023 jumped to USD947.9 million, an increase of approximately 220% from USD296.1 million for the ... -
Increasing investment promised by gaming ops: Wilfred Wong
All six casino operators have promised the government that, over the next 10 years, during the new concession period, the integrated operators will promote the non-gaming ... -
Fitch revises LVS outlook to positive on strong Macau rebound
Fitch Ratings has affirmed Las Vegas Sands ‘BB+’ rating and revised its outlook to positive from negative as it reflects “the strong rebound in the Macau ... -
Casino revenues hit post-pandemic high
The city’s gross gaming revenue (GGR) continued to strengthen in July, returning to about 68% of pre-pandemic levels, hitting a post-pandemic high. Data from the Gaming ... -
Casino mogul Steve Wynn fined $10M to end fight over claims of workplace sexual misconduct in Nevada
Casino mogul Steve Wynn has ended a yearslong legal fight with Nevada gambling regulators that started with claims of workplace sexual misconduct, agreeing to pay a ... -
Casino ops to transition into Vegas, Singapore model: Macquarie
Macau casino operators are slated to transition to a Las Vegas Strip or Singapore model, a transformation which will focus on switching Macau from being a ... -
Cheng family takes over Hoiana Resort in Vietnam from Alvin Chau
Hong Kong’s billionaire Cheng family has taken control of Hoiana Resort & Golf in Vietnam’s central Quang Nam province from Macau gambling kingpin Alvin Chau, who ... -
Sands China announces profits of MOP1.5b in Q2
Sands China Ltd. (SCL) announced their second quarter (Q2) results yesterday, reporting a net revenues of USD187 million (MOP1.5 billion) for the second quarter of 2023, ... -
July to be the best GGR month so far: JP Morgan
Analysts from the financial services firm JP Morgan Securities (Asia Pacific) Limited are forecasting that July 2023 will be the best month so far in terms ...
