Tag: Gaming
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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 ... -
Gaming sector expenditure rises 15% in 2021
Total expenditure of the gaming sector rose by 15.2% year-on-year to MOP53.48 billion, driven by a 45.4% increase in operating expenses (MOP14.47 billion). The sector also ... -
Commission continues negotiations with seven concession bidders
The government conducted another round of negotiations with the seven bidders for the city’s 10-year gaming concessions yesterday. As cited in a TDM report, today’s meeting ... -
Sands China: Gov’t deliberation on concession in ‘good progress’
Sands China has held several rounds of discussion with the government regarding the current gaming tender deliberation and is expecting a notice on the next development ... -
Okada arrested in Manila, police shut down illegal online gambling operations
Japanese gaming tycoon Kazuo Okada was arrested by police authorities at Ninoy Aquino International Airport earlier this week, months after his group launched a “violent” takeover ... -
The Star fined AUD100m over money-laundering activities
Australian gaming giant Star Entertainment Group has been fined AUD100 million amidst pressure to reform their operations following reports of money-laundering activities. The group’s license to ... -
NJ casino, sports betting, online revenue up 7% in September
New Jersey’s casinos, horse tracks that offer sports betting and the online partners of both types of gambling outlets won nearly $485 million from gamblers in ... -
AAEC letter no impact on gov’t decision: JP Morgan
Brokerage JP Morgan Securities (Asia Pacific) has stated that the recent letter sent by Asian American Entertainment Corporation (AAEC) to the city’s gaming commission for casino ... -
Gaming scholar forecasts GGR to only recover to 70% of 2019
Local gross gaming revenue (GGR) will never return to the pre-pandemic levels and, at most, will only recover to 70% of 2019 levels, Professor Zheng Zhonglu, ... -
Fitch: Gaming recovery far-off amid easing travel restrictions
Macau’s gaming sector’s recovery remains far-off despite the recent easing of travel restrictions with mainland China. Visitor numbers to Macau are beginning to recover but they ... -
Big six shares on a continuous decline ahead of Beijing’s party congress
The city’s big six shares are in free fall at the Hong Kong Stock Exchange, with Sands China and Wynn Resorts leading the plunge with a ... -
Casino stocks plunge as Covid infections rise
Casino shares have been trading lower since Monday following new cases detected in the neighboring region. The downturn follows the National Day Golden Week in which ... -
Golden Week casino revenues at MOP1.7b
The city’s casinos are seeing daily average revenues double when compared to the first nine days of September. A note issued by JP Morgan Securities (Asia Pacific) ... -
Daisy Ho acquires 10% stake of SJM from Angela Leong
SJM Resorts managing director Daisy Ho has acquired a 10% stake in the company after assuming Angela Leong’s former role amid management changes – a move ... -
Casino woes: September revenues down 50% y-o-y
September has been another bleak month for the city’s casinos as revenues plunged 49.6% year-on-year to MOP2.96 billion, another blow to the sector as China’s lockdown ... -
Daisy Ho appointed SJM managing director amid law overhaul
Daisy Ho has been appointed managing director (“administradora-delegada”) of SJM Resorts, S.A., amid the ongoing tender selection process regarding who will be awarded the 10-year gaming ... -
Investment firm predicts mass GGR to reach 40% pre-pandemic levels in Q4
UBS analyst Angus Chan is estimating that the city’s mass gross gaming revenue (GGR) will reach 40% of pre-pandemic levels in the fourth quarter. With optimism, ... -
Morgan Stanley: Amid group visa hype, recovery only apparent in 2024
Brokerage firm Morgan Stanley observed that the recovery of the local gaming sector may only be seen by 2024, despite the long-awaited announcement of group visa ... -
Casino stocks soar ahead of group visa reinstatement
Gaming shares soared yesterday, the highest surge recorded in six months following a long- awaited announcement that will bring an end to the tourism drought that ... -
CE: Gaming operators know better about tourist arrival outlook
Chief Executive Ho Iat Seng expressed his belief that gambling concessionaires “know better than the government” about the outlook on tourist arrival numbers. His remark was ... -
Gaming tender committee to meet with bidders for proposal discussions
The committee for the gaming tender bids is set to meet with the seven companies competing for the six concessions from next week, when competitors present ... -
Genting ‘prospective rescuer’ if incumbent operator continues to face cash bleed
Genting’s bid in the gaming tender may be a way to partner itself to an incumbent gaming operator in financial turmoil, according to a note issued ... -
NJ casino, online, sports betting revenue up 10% in August
New Jersey’s casinos, horse tracks that offer sports betting and the online partners of both types of gambling outlets won $470.6 million from gamblers in ... -
Wynn submits bid for 10-year casino licenses
Gaming operator, Wynn Macau, submitted its tender to the government for a 10-year casino concession yesterday, one day ahead of the deadline. The gaming operator stated, ... -
New Crown boss Carruthers ‘not banking’ on Chinese high rollers returning to Australia
Crown Resorts’ new chief executive Ciaran Carruthers said the Australian casino giant is not banking on Chinese high rollers returning to Australia to boost its bottom line, ... -
Gaming sector suffers from outbreak aftermath as slumps continue in August
Macau’s gross gaming revenue fell to MOP2.19 billion in August, a plunge of 50.7% year-on-year, as the city struggles with the aftermath of its largest outbreak ... -
‘Dream goes on’
Weeks before the deadline to submit a bid for the gaming tender (September 14), Wilfred Wong is optimistic about Sands China Limited (SCL) being able to ... -
Minimum casino table income set at MOP7 million, tables capped at 6,000
The maximum number of gaming tables for all casinos in the city is capped at 6,000, while gaming machines have a maximum of 12,000 from 2023, ... -
Satellite casinos find alleged increase in concessionaires’ revenue shares ‘unreasonable’
A gaming operator is reportedly planning to increase its revenue shares from satellite casinos by 5%, according to media reports, amid the public tender for a ... -
MGM China to inject USD594m for local unit ahead of license bid
MGM China is set to pump USD594 million into its Macau casino operator as the company prepares to bid for a new license amid the law ... -
‘Firm recovery’ only in 2023 as gaming sector losses up to USD2b in first half
The gaming sector may only see steady recovery in 2023, says investment banking company Jefferies Group, as all gaming operators have reported revenue losses of up ... -
Melco sees local operations’ revenues drop by nearly half
Heightened border restrictions in Macau and mainland China related to Covid-19 have dealt a blow to gaming operator Melco Resorts & Entertainment Limited as its second ... -
GEG confident in new concession, reports 40% revenue drop in Q2
Galaxy Entertainment Group (GEG) recorded a net revenue of HKD2.4 billion in the second quarter, down 56% year-on-year and down 41% quarter-on-quarter. According to its second ... -
David Chow exits Macau Legend
Gaming tycoon Davin Chow Kam Fai has resigned from the board of Macau Legend Development Ltd, a firm he co-founded in 2006. According to a filing, ... -
Collaboration duty dropped from ‘junkets bill’
The infamous Article 56 of the new law to regulate casino activities, also called the “junkets bill,” has been dropped from the bill’s final version by ...
