Tag: Gaming
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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 ... -
Post-Covid woe: Atlantic City casino earns fell 4.6% in ‘22
Three years after the coronavirus pandemic erupted, Atlantic City’s casinos are collectively struggling to get back to where they were before COVID-19 in terms of profitability. ... -
JP Morgan: Mass GGR in Q1 hits over half of pre-Covid levels
Gaming revenues in March have indicated that mass GGR has finally hit “70 percent-plus of pre-Covid levels for the industry,” according to brokerage firm JP Morgan ... -
Casinos record best month in three years
The city’s casinos have recorded the best month in three years as gaming revenues surge 247% and Macau sees an influx of tourists following promotions in ... -
Renamed Horseshoe to host Poker World Series on Vegas Strip
A name paired with poker and Las Vegas lore now has a place on the neon-lit Strip following the rebranding of an iconic hotel with a ... -
Casinos likely to earn MOP11b in GGR for March
The city’s gross gaming revenue (GGR) is estimated to have reached MOP6.8 billion by Mar. 19 as economic revival continues, following the consistent recovery in tourist ... -
ID not fully aware of big six proposals for sports
Speaking to the media on the sidelines of the launching of this year’s Dragon Boat Races event, the Sports Bureau (ID) president, Pun Weng Kun, said ... -
Bill to legalize sports wagering clears Kentucky House
A bill to legalize sports betting in Kentucky won House passage yesterday [Macau time], setting up a Senate showdown on a proposal that creates divisions among ... -
Casino revenues surge 33% as recovery continues
Macau’s gross gaming revenue surged to MOP10.32 billion in February as the sector benefited from the city’s easing of restrictions since early January. The figure is ... -
JP Morgan: Macau’s recovery still in early stages
Macau’s recovery is still in the early stages, even though casino stocks have more than doubled in the last three months, according to JPMorgan analysts DS ...
