Tag: Gaming
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Las Vegas topping Macau’s GGR in 2022 only ‘one-off’
Las Vegas’ casino revenue has hit higher than Macau for the first time in 18 years as the casino sector in the city struggled to ride ... -
Strong momentum for MGM as properties see ‘very healthy recovery’
MGM Resorts officials have confirmed that there is a “strong momentum” in its business and that its 2023 outlook remains bright, partly propelled by MGM China’s ... -
February GGR rebound so far better than expected
The city’s gross gaming revenue (GGR) is recording a rebound, with an estimated MOP1.9 billion in the first five days of February, as the city has ... -
Macau gaming revenue jumps 82.5% as China travel resumed
The city’s casinos saw gross gaming revenue (GGR) surge in January as China’s reopening and the week-long Lunar New Year break sparked an influx of visitors to the ... -
Analysts expect mass GGR to recover to 60-70% of 2019 level
JP Morgan is satisfied with the pace and extent of the recovery of Macau’s gaming industry, expecting the Chinese New Year (CNY) mass GGR to recover ... -
LVS upbeat on strong recovery in Macau: Goldstein
Rob Goldstein, chairman and chief executive officer of Las Vegas Sands Corp (LVS), said the group is seeing “strong” momentum in its Macau operations during the Chinese ... -
The market is ‘healthier’ without junkets, Wilfred Wong says
Sands China Limited (SCL) president and executive director Wilfred Wong thinks the local gaming market is now “healthier” without the gaming promoters, also known as junkets, ... -
NJ gambling revenue matches all-time high, with online help
New Jersey’s gambling revenue matched its all-time high of $5.2 billion in 2022, but only half that amount was won by casinos from in-person gamblers. Figures ... -
Macau court jails Suncity founder 18 years over illegal gambling
The founder of Macau's once-biggest casino junket organizer was sentenced today (Wednesday) to 18 years in jail after being convicted of operating illegal gaming activities, running ... -
Morgan Stanley raises Jan daily GGR estimate to MOP250M
Visitation numbers to Macau have picked up since China eased its zero-Covid policy on Jan. 8, although Chinese New Year’s (CNY) visitor numbers will be “the ... -
Junket operators steadily diminishing
The number of gaming operators in Macau continues to fall, recording a drop of 21.7% in 2022, data from the Gaming Inspection and Coordination Bureau shows. ... -
Casinos close 2022 with MOP42.2b in GGR, 51% drop from 2021
The local gaming industry has ended 2022 with an accumulated gross gaming revenue (GGR) of MOP42.198 billion, a figure very far from the government’s forecast and ... -
Junkets to guarantee gov’t with MOP1.5m in legal overhaul
Gaming promoters, more commonly known as junket operators, will be required to pay MOP1.50 million to have their licenses renewed from January 1. The day marks ... -
Operators to face extra 20% of non-gaming investment if GGR tops MOP180b
The six gaming operators are expected to face another burden if gaming revenues reach MOP180 billion each year, as they will be required to invest an ... -
Junkets law approved, need for an interpretation rule debated
The law regarding the operations of gaming activities in casinos, also known as ‘junkets law’, passed unanimously yesterday at the Legislative Assembly (AL). The law, complementary ... -
Gaming ops to ink contracts on fresh licenses
The six gaming operators will sign contracts with the government at the Government Headquarters for the new 10-year licenses, according to media reports. Late last month, ... -
Investors bet on China’s reopening leading to casino shares rising
Macau’s casinos stocks are again on the rise with Wynn Macau in the lead, as its shares rose by 22.39% as China began relaxing its strict ... -
New concessionaires will have to reemploy closed satellite casino workers
The new gaming concessionaires will have to take responsibility for the workers of the “satellite casinos” that will eventually close, the Secretary for Economy and Finance, ... -
WC betting down in Las Vegas but higher than expected
The World Cup may be the globe’s biggest sporting event, yet in the United States in the fall, it competes with a full sports betting calendar. ... -
Casino on track for worst year on record, with November revenues plunging 56% y-o-y
Casino revenues in November plunged 56% from the previous year to MOP3 billion patacas, another figure that is set to likely put Macau on its worst ... -
Wynn leads stock rally after conclusion of bidding process that ‘lacks transparency’
Casino shares rallied yesterday following the announcement of the new licenses the incumbent big six will receive by the end of the year, with Wynn Macau ... -
Incumbent casinos win new licenses, Genting shut out
The six incumbent operators will retain their concessions and will be awarded a 10-year license, ending the major uncertainties surrounding the concessionaires who have long been ... -
Gaming ops pledge to boost int’l tourism efforts
Gaming operators awarded provisional concessions have expressed their gratitude towards the SAR government following the announcement of bid winners Saturday. The concession is awarded on a ... -
Six incumbent gaming operators retain concessions
The six incumbent operators will retain their concessions and will be awarded a 10-year license, the government committee for the gaming concessions public tender announced this ... -
Macau venture could be a drain to Genting’s cash: report
PublicInvest Research said today (Friday) that Genting Malaysia (GenM) could face a “cash drain” in the short term should it secure a gaming concession in Macau. ... -
Gov’t to announce gaming tender results tomorrow
The Macau Government will possibly announce the preliminary results of the international tender for six gaming concessions at a press conference tomorrow morning (Saturday), which was ... -
A decade to ‘change the image of Macau,’ gov’t proposes
It has been confirmed that the local government is trying to reduce casino activities to irrelevance or something merely residual through diversification of the economy with ... -
MS: Choppy recovery expected as mainland cases spike
Morgan Stanley is expecting the gaming industry’s near-term recovery to remain choppy due to the Covid-19 spikes in Guangdong and mainland China. Despite resumption of e-visas ... -
Analyst: MOP100b investment a ‘noose around the operators’ necks’
The reported MOP100 billion investment from casino-license bidders is considered unsurprising, despite the sector bleeding cash with no certainty on recovery. With the embattled gaming sector ... -
Investment plans reach MOP100 billion amid recovery uncertainties
The investment plans of future gaming concessionaires cumulatively amount to a staggering MOP100 billion amid uncertainties surrounding the city’s full border opening. According to a TDM ... -
Galaxy’s net revenue plummets 50% in Q3
Local resort operator Galaxy Entertainment Group (GEG) has recorded a loss of HKD581 million in its adjusted EBITDA for the third quarter of this year. In ... -
Bet on it: Sports gambling effort in California is not over
The effort to legalize sports betting in California ran headlong into a typical challenge for competing ballot measures as each was battered in a torrent of ... -
MGM Q3 losses widen, places confidence on eVisa resumption
MGM China recorded a widened loss during the third quarter of this year as total revenues stood at HKD687 million, compared to HKD1.1 billion in the ... -
Phase 2 of Studio City to open Q2 2023, earnings down 46% y-o-y
The construction of Studio City Phase 2 is progressing on schedule and it is anticipated that the opening will be conducted in stages, beginning in the ... -
Morgan Stanley: 2022 GGR to be under MOP45b
Brokerage firm Morgan Stanley has amended its forecast for the city’s gaming sector in 2022 to just under MOP44.93 billion. Analysts Praveen Choudhary and Gareth Leung ...
