Tag: Gaming
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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 ... -
Casinos may take deposits but must ensure their source
A revised version of the bill which regulates casino operations and is part of the package of new gaming laws provides that casino concessionaires may take deposits ... -
Wynn Resorts pledges to play part in attracting foreign bettors in reformed sector
Casino operator Wynn Resorts has pledged to boost the concerted effort to diversify the city’s market, according to an approved landmark casino bill that also targets ... -
MGM China revenue plunges in 2H, puts focus on sports and entertainment in bid
MGM China’s operations were affected by travel restrictions in the region due to the Covid-19 outbreaks that occurred in Macau and neighboring regions. Public health policies ... -
SJM Holdings announces rights issue, term loan with STDM
SJM Holdings Limited has come to an agreement with its controlling shareholder, Sociedade de Turismo e Diversões de Macau, S.A. (STDM) for an unsecured term loan ... -
Melco Resorts weighs Macau move to evade US delisting
Melco Resorts & Entertainment is reportedly considering relocating its headquarters to Macau following reports that the U.S. is set to delist about 200 Chinese and Hong ... -
SJM 2H22 loss doubles y-o-y
In the first half of 2022, SJM Holdings, parent company of casino operator SJM Resorts, S.A. (SJM), recorded a loss of HKD1,176 million in adjusted EDITDA, ... -
Embattled casino sector suffers worst GGR in decades in July
The casino sector has suffered its worst month as gaming revenues tumbled 95% year-on-year in July due to the largest flare-up in Covid-19 cases the city ... -
New era requires different leadership
The president of the new Commission for Gaming Licenses Tender and Secretary for Administration and Justice, André Cheong, said that Macau is to enter a whole ... -
New concessions tender starts today
Today the international public tender for the issuing of the new licenses to operate casinos in Macau has officially started and will take place until September ... -
Public tender gaming commission created
The Chief Executive (CE) Ho Iat Seng formally created yesterday the commission that is to be in charge of the public tender for the attribution of ... -
Consultant: Either Covid or zero-Covid policy must go away before casinos rebound
For Macau to bounce back to pre-Covid-19 pandemic levels and experience pent-up demand similar to Las Vegas when it reopened, it’s “either Covid goes away or ... -
Chinese analyst pessimistic about Macau’s July GGR
An analyst from a Chinese securities agency in Hong Kong has forecast that Macau’s July gross gaming revenue (GGR) will plunge to MOP100 million at its ... -
July to record the worst-ever GGR, August unpredictable
Several entities and experts have labelled this month as potentially the worst month on record for gross gaming revenue (GGR). The closure of casinos for at ... -
Macau poised for unprecedented rebound post-pandemic: Casino giants
Casino giants are expecting Macau to record an unprecedented market rebound once Covid-19 restrictions are lifted. In an interview with American business media CNBC, CEOs of ... -
Sands China takes out USD1b loan from parent company amid turmoil
Sands China has entered into a loan agreement with its parent company, Las Vegas Sands (LVS), totaling USD1 billion and repayable on July 11, 2028. In ... -
Gaming shares plunge amid casino closures
As casinos closed for the first time in two years yesterday to curb the spread of infection, gaming operators saw their stocks plunge by up to ... -
S&P Global is pessimistic about city’s 2022 GGR
International economic rating institution S&P Global Ratings expects that Macau’s 2022 end gross gambling revenue (GGR) will at most reach USD10.08 billion, several media report. In ... -
Experts: Tender process and new awardees expected even before year-end
The gaming tender regulations released earlier this week hint that the awarding of new concessionaires will complete before the current gaming licenses expire on December 31. ... -
Linda Chen to helm Wynn Macau in 2023 as Ian Coughlan exits
Wynn Macau Ltd has announced Linda Chen, current vice chairman and chief operating officer of Wynn Macau, as president of the company from March 2023, in a ... -
CSR proposals, attracting non-Chinese bettors key in bidding process
In a recent set of executive regulations, the government has updated the stipulations regarding the bidding process for casino licenses in Macau. The set of executive ... -
Negative EBITDA expected for casino operators facing mayhem
The current Covid-19 outbreak against which the city is waging war is set to lead to a negative EBITDA for casino operators in the second quarter. ... -
Public tender rules this month, licenses attributed in December
The rules that will regulate the new public tender for the future gaming concessions are likely to be published this month, TDM Radio reported yesterday. According ... -
Revenue slump persists as city deals with worsening outbreak
Macau’s gaming revenues have fallen to a new low – since September 2020 – as the city faces its largest outbreak yet, after recording low numbers ... -
SJM to deliver employee bonuses
Gaming operator SJM Resorts SA is set to deliver another bonus for its employees as part of the casino industry’s customary annual stipend. Dubbed as the ... -
Analysts expect ‘near-zero’ revenue while casino stocks plunge following outbreak
Macau’s casino stocks saw a plunge yesterday after the government’s announcement of a new wave of Covid-19 cases dealt a fresh blow to the crippled gaming ... -
Fitch maintains negative watch on operators, downgrades economic recovery
Fitch Ratings has expressed reduced confidence in Macau’s economic recovery as the city’s zero-Covid strategy “continues to constrain the cash-flow generation ability of Macau’s operators.” Analysts ... -
Galaxy’s President and Rio casinos close; SJM extends Grand Emperor Casino
As Galaxy Entertainment Group (GEG) abruptly closed a pair of satellite casinos yesterday midnight, reports about SJM Resorts, S.A’s attempt to extend Grand Emperor Casino have ...
