Tag: Gaming
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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 ... -
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 ...
