Tag: Gaming
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Adelson sees Macau ‘at or near’ bottom of gambling downturn
Las Vegas casino billionaire Sheldon Adelson said he expects Macau’s economy and hard-hit casino industry, in the midst of an 18-month downturn, to start recovering next ... -
Gaming alert | Packer’s rising casino debt making bond market wary
Australian billionaire James Packer’s casino empire borrowings are rising too fast for some bond investors’ comfort. With Crown Resorts Ltd.’s debt pile swelling and profits down, ... -
Gaming | Slumping Macau calls in superheroes as graft fight hits casinos
Barely 10 years ago, Francis Lui and his family were building a relatively modest fortune largely from quarrying rock in Hong Kong and processing slag from ... -
Gaming | July GGR forecasts from MOP17.5b to MOP20b
Citing its local gaming sources, Nomura noted that daily gross gaming revenue (GGR) in the first five days of July totalled MOP609 million. The results were ... -
Gaming table cap should be revised, economist says
A local economist has said that, in light of the gaming revenue drop, the government should be flexible and allow operators to have more gaming tables ... -
Gaming | Operators bet USD27 billion on reversing law of supply and demand
Take a tour of south Macau and it’s hard to tell that the world’s biggest gambling hub is contracting. On a vast piece of reclaimed land, ... -
Gaming | Okada finds partner for Manila casino
Japanese gaming tycoon Kazuo Okada’s group may have finally found a local partner to start commercial operations of its USD2 billion casino-resort project along Manila Bay ... -
Gaming | Genting drops most since 2010 as China crackdown hurts earnings
Genting Singapore Plc slid the most in five years after reporting a 73 plunge in first-quarter profit as China’s anti-graft campaign kept mainland high rollers ... -
Gaming | Citi keeps May revenue forecast at MOP20.5b
Based on a report on the industry’s data, Citigroup has said that Macau’s gaming revenue for the first ten days of May reached MOP7 billion, while ... -
Gaming | Wynn Resorts biggest shareholder T. Rowe cuts stake 40 pct
T. Rowe Price Group Inc., the largest stockholder in Wynn Resorts Ltd., cut its stake in the casino company by almost 40 percent, according to a ... -
Gaming | Riviera casino closes doors after 60 years on Vegas Strip
If the ghosts of Frank Sinatra and Liberace were still hanging around the Riviera Hotel and Casino on Monday morning (yesterday in Macau), they wouldn’t have ... -
Gaming | Dividends in danger as MGM China, rivals yield to Macau slump
MGM China Holdings Ltd. is reconsidering its special dividends, which totaled USD1.4 billion over the past three years, because of the gambling slump in Macau. While ... -
Gaming revenue drops 39 pct in April
Macau’s casino revenue in April fell 38.8 percent as China’s widening efforts to battle against graft deterred high-stake gamblers. A wave of projects being completed amid ... -
Gaming | Casino shares rise on sign industry approaching bottom
Macau’s casino shares rose in Hong Kong trading on signs that the industry’s slump is approaching a bottom. Wynn Macau Ltd. rose 4.8 percent to HKD16.54 ... -
Gaming – Education| Melco announces new local management development program
Melco Crown yesterday announced a new Local Management Development – Foundation Acceleration Program (“Foundation Acceleration Program”) for its local employees. According to a press release, the ... -
Gaming | Lionel Leong meets gaming operators to discuss policies
The Secretary for Economy and Finance, Lionel Leong, met yesterday with representatives of Macau’s six gaming operators to discuss the industry’s policies. They focused mainly on ... -
Gaming | Revenue to drop over 30 pct in April
Macau’s gross gaming revenue may drop by over 30 percent year-on-year with some gaming operators even forecasting a 40-percent decrease, data compiled by Lusa news agency ... -
Gaming | Iao Kun enters into MoU for junket operation in Australian casinos
Iao Kun Group Holding Company Limited (IKGH) yesterday announced that it has entered into a non-binding memorandum of understanding to acquire all of the profit interests ... -
Gaming | Melco Crown announces pay rise
Melco Crown Entertainment Limited has announced a five percent pay increase for all eligible non-management employees, effective from the first pay period in April 2015. In ... -
Gaming | At least 35 pct drop expected in March
Local casinos are expected to close in March with a year-on-year revenue drop of at least 35 percent, with one gaming operator even expecting a fall ... -
Gaming | Fitch Ratings still confident in Macau
Unlike other rating agencies, Fitch Ratings is still optimistic about Macau’s long-term business future, saying that business should pick up in the second half of the ... -
Gaming | February revenue almost halves
Macau gaming revenue almost halved in February as a crackdown on corruption in China kept high-stakes gamblers away during the peak Lunar New Year holiday period. ... -
Gaming | Citi cuts Feb revenue to MOP17.5bn, down 54 pct
Referring to its sources, Citi Research has indicated that Macau’s table Gross Gaming Revenue (GGR) for the first 23 days of February reached MOP13.3bn (or MOP14.0bn, ... -
Gaming | New decline in casino shares
Wynn Macau Ltd. fell to the lowest in more than two weeks, leading a widespread decline in casino shares. Bloomberg has related the slump to statements ... -
Gaming | Study finds differences between Chinese gamblers
Casino customers have important subcultural differences, according to a research article entitled “Behavioral Differences in Gaming Patterns among Chinese Subcultures as Perceived by Macao Casino Staff,” ... -
Gaming revenue drops 33 pct in Portugal
Gaming revenue from casino and bingo facilities in Portugal has dropped 33 percent over six years, reaching EUR313 million, the lowest since 2008, Portuguese newspaper Público ... -
Gaming | MGM Resorts posts fourth-quarter loss
MGM Resorts International, the largest casino operator on the Las Vegas Strip, reported a wider fourth-quarter loss as gambling revenue from Macau plunged. The loss widened ... -
Gaming | Las Vegas hotel implosion doesn’t topple elevator shaft
An elevator shaft withstood a blast meant to implode a Las Vegas hotel, and crews yesterday (Macau time) were planning a little more work to finish ... -
Gaming | Paradise expands casinos as Chinese pack halls amid curbs
Paradise Co., South Korea’s largest operator of casinos for foreigners, is increasing gambling space to cater for a boom in Chinese visitors, even as China cracks ... -
Gaming | Vietnam: Van Don casino-resort to be licensed soon, Macau investors may be interested
The selection of investors for the Van Don airport and an integrated casino and resort complex in the northern province of Quang Ninh is nearing its ... -
Gaming | Sheldon Adelson: High rollers ‘below the radar’ until corruption ‘witch-hunt’ levels off
VIP and premium players are staying “below the radar” until the Chinese government levels off its current crackdown on corruption, according to Sheldon Adelson, chairman and ... -
Junket operator looks abroad as graft war stymies VIPs
David Group, a Macau junket operator that serves higher-spending casino customers, is expanding into other Asian countries as China’s anti-corruption campaign deters VIPs from visiting the ... -
Gaming | Junket operator David Group to close some of its VIP Rooms
David Group, a Macau junket operator that serves higher-spending casino customers, is closing some rooms in the city and expanding into other Asian countries as China’s ... -
Breaking news: Edward Tracy to retire from Sands China
Sands China CEO and president Edward Tracy has announced his retirement today after almost five years running LVS’ most lucrative gaming operation and amid Macau’s ... -
Gaming | CLSA predicts 22 pct GGR boost in 2016
Credit Lyonnais Securities Asia’s (CLSA) regional head of consumer and gaming research Aaron Fischer says that 2015 will be another “tough year” for Macau, with ...
