Tag: Gaming
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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 ... -
GGR down 68% y-o-y as casinos burn millions in cash daily
Macau’s gaming industry is still suffering from a slump in revenues, registering a 68% year-on-year drop in its May income as casinos burn millions of dollars of ... -
Daisy Ho confident about closing syndicated loans
Daisy Ho, chairperson of SJM Resorts, S.A. (SJM), yesterday expressed her confidence in seeking funds for the enterprise. Her comment was made on the sidelines of ... -
Beijing: DOJ accusation on Wynn only to hype up ‘China threat’ theory
The United States Department of Justice’s (DOJ) move to sue longtime Las Vegas casino mogul Steve Wynn to compel him to register as a foreign agent ... -
US sues casino mogul Steve Wynn over relationship with China
The Justice Department sued longtime Las Vegas casino mogul Steve Wynn on Tuesday (today, Macau time) to compel him to register as a foreign agent because ... -
Channel checks indicate visa denial of frequent gamblers: Bernstein
China’s National Immigration Administration has recently reconfirmed strict Covid-19 border policy and restrictions on non-essential travel, a move that could further hamper arrivals, particularly of bettors, ... -
Gov’t U-turn on satellite casinos to particularly benefit SJM
SJM Holdings Ltd. shares rose to as much as 9.7% yesterday following the government reversing its decision on the gaming law amendment that all casinos would ... -
Proposed bill steps back to current law in force
The government has decided to abandon the idea to promote major changes to the new gaming law concerning the gaming concessionaires’ ownership, the amended version of ... -
Gov’t drops casino venue ownership rule to save satellites
The government has amended the contentious rule that aimed to establish that all casinos would mandatorily be located in venues owned by the concessionaires. The amendment ... -
Casino stocks rally as gov’t considers tax reduction if operators bring foreign players
Casino stocks in the U.S. trading market rallied on Friday following the SAR government’s announcement that it is considering lowering the gross gaming revenue (GGR) taxes ...
