Tag: Gaming
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Casino revenues to hit 100% pre-Covid levels by October: JP Morgan
Gaming revenues are likely to hit 100% of pre-Covid levels by October as the first nine days of July recorded a robust recovery, according to JP ... -
Casino revenues drop 2.3% to MOP15b in June
Gross Gaming Revenue (GGR) from local casinos dropped by 2.3% in June when compared with the previous month, official figures released by the Gaming Inspection and ... -
Internet gambling would be given 5 more years under latest change in New Jersey
Internet gambling in New Jersey would be allowed to take place for at least five more years under the latest proposal by state lawmakers. Yesterday (Macau ... -
Opened amid uncertainty, Atlantic City’s 2 newest casinos near top of the market 5 years later
Five years ago, there were mixed emotions in Atlantic City as two casinos that had failed and shut down were set to reopen with new owners ... -
Casino revenue hitting MOP527 million daily
The city’s gross gaming revenue (GGR) may have amounted to approximately MOP9.5 billion in the first 18 days of June, according to Citigroup, citing industry data. ... -
New Jersey casinos, tracks and partners won $471m in May, up 9.4%, but in-person winnings still lag
New Jersey’s casinos, horse tracks that take sports bets and the online partners of both types of gambling won nearly $471 million in May, up 9.4% ... -
Philippine billionaire looks to expand casinos beyond Manila
Andrew Tan, a billionaire from the Philippines, has set his sights on expanding his casino empire beyond the bustling streets of Manila. Alliance Global Group Inc., ... -
Macau Legend to sell Laos operation for $45m
Local hospitality and casino services operator, Macau Legend Development Limited, has announced it has signed a letter of intent to sell its operation in Laos. The ... -
Citi highlights Macau’s GGR improvements last week
Citi Research noted in a report that, according to industry sources, Macau’s gross gaming revenue (GGR) for the first 11 days of June may have reached ... -
GGR to recover 74% of 2019 levels next year: Deutsche Bank
Deutsche Bank Securities Inc. expects Macau’s gross gaming revenue (GGR) to reach 74% of pre-pandemic levels in 2024, leading Wynn, Sands and MGM to expand their ... -
Galaxy, MGM set sights on IR in Thailand
Galaxy Entertainment Group Ltd. and MGM Resorts International are seeking to get a head start by considering the potential of opening casino resorts in Thailand, Bloomberg reported. Citing people ... -
May revenue soars by 366% amid city running second for fastest growing economy
May revenue from the casino sector has seen a surge of 366% from a year ago to total MOP15.6 billion in May, again hitting a three-year ... -
New bill to build Athletics stadium on Las Vegas Strip caps Nevada’s cost at $380m
A bill introduced last week in the Nevada Legislature would give the Oakland Athletics up to $380 million for a potential 30,000-seat, $1.5 billion retractable roof ... -
Rob Goldstein: Macau ‘resurrecting strong’, group to further invest over USD3.9 billion
The Macau SAR will continue to record new post-pandemic highs as it is currently “resurrecting strong” – a comeback that came as a surprise and a ... -
May casino revenues to reach new high post-Covid
Casino revenue is forecast to reach a new post-pandemic high of MOP15.5 billion in May, which translates to an average daily casino floor income of around ... -
Galaxy eyes further recruitment as revenues up 72%
Galaxy’s revenues during the first quarter (Q1) of 2023 surged up to 72% to HKD7.05 billion year-on-year amid the ongoing robust recovery of the casino sector ... -
Individual creditor rights among debate topics at casino credit bill first reading
Three lawmakers expressed their concerns over protections for casino intermediaries during the first reading of the casino credit bill last week. Ron Lam, Pereira Coutinho and ... -
Casino floors see MOP8b in revenues in May’s first half
Casino floors have seen MOP8 billion of gross gaming revenue (GGR) in the first 14 days of the month, an average daily run rate of MOP570 ... -
SJM’s losses narrow in Q1 as sector upbeat for recovery
SJM Holdings recorded a net gaming revenue HKD3.70 billion during the first quarter (Q1) of the year, amid the robust recovery the casino sector has been ... -
Melco to open City of Dreams Mediterranean in July
The City of Dreams Mediterranean located in the city of Limassol, Cyprus, is set to open its doors by July 10, becoming the first integrated resort ... -
Casino credit bill first reading May 18
A bill dealing with credit-handling at local casinos will have its first reading in parliament next Thursday. Officially called Legal System Governing Casino Games of Luck ... -
Wynn revenue doubles as Cotai property leads recovery
Wynn Macau’s operating revenues doubled to USD600 million, compared to the USD298 million recorded a year ago, according to its first quarter earnings result. The gaming ... -
Casinos hit MOP4.5b in first week of May
Casino floors averaged a daily run-rate of some MOP640 million during the first seven days of May which coincides with the May Golden Week, when the ... -
Morgan Stanley forecasts GGR to approach 90% of pre-pandemic levels
Morgan Stanley has again raised its forecast for the city’s gaming industry as the sector has been painting a rosy picture, following nearly three years of ... -
Casino stocks on a decline, full recovery only by 2025: Moody’s
Macau casino stocks again declined yesterday, following losses of up to 8.7% the day prior. Yesterday, Melco International led the decline with a 4.4% drop, followed by ... -
Long-unfinished blue Strip tower sets date for grand opening
A soaring blue-glass tower that has sat empty for close to two decades on the Las Vegas Strip — through the Great Recession and an unprecedented ... -
Casino sector gains momentum, hitting new high in April
The casino sector continues to gain traction in recovery in April, recording MOP14.7 billion in revenue in April, the highest monthly taking since January 2020. The ... -
MGM records MOP5b in revenue in Q1 as sector recovers
MGM China has outperformed the casino market as the industry recovers. The group recorded a revenue increase of 131.2% year-on-year to HKD4.8 billion for the first quarter, reaching 84% ... -
Wynn Resorts to build first gaming resort in UAE for USD3.9b
Las Vegas-based casino operator Wynn Resorts, which is one of the biggest in the world with resorts in Boston and Macau, has announced that it will ... -
Credit Suisse: casinos set for peak revenue period in final days of April
Credit Suisse’s channel data shows that the casino sector is set to record around MOP750 million a day in revenues from April 20 to May 1. ... -
Junkets only allowed giving credit to gamblers under contract with concessionaires
The gaming promoters, also called “junkets,” will only be able to grant credit to gamblers to play in the local casinos if such promoters have a ... -
Sands China notches USD1b in Q1 revenue
Sands China notched revenue of USD1.27 billion in the three months from January through March, more than doubling that figure on a year-over-year basis, Las Vegas ... -
Baccarat accounts for 84% of all GGR during Q1, VIP still lagging behind
The Baccarat card game continues to be the game of choice for most casino patrons in Macau, generating a Gross Gaming Revenue (GGR) of 29.1 billion ... -
MGM Resorts wins Japan’s first casino license
MGM Resorts International has been granted a license to operate the first casino in Japan, and is further expanding its international portfolio by way of Japan ... -
Casinos registering MOP400 million daily run rate
Macau’s casino revenues for the first 10 days of the month have reached MOP4 billion, implying a daily run rate of around MOP400 million, according to ...
