Gaming Law: Number of concessions limited to six, lasting 10 years

The Macau authorities today (Friday) revealed the amendments to the gaming law stipulating a maximum of six concessions, and the duration of the concession capped at 10 years with three

Gaming | JP Morgan: Covid-19 no longer affecting casino stocks

Brokerage JP Morgan has upgraded gaming operators Sands China, Wynn Macau and MGM’s risk/reward potential overweight, noting that the ongoing Covid-19 crisis is for the most

Gaming Law | Gov’t considers awarding concessions based on ‘quality not quantity’

A report on the public consultation on the amendment to the gaming law has revealed that most participants “agree with the general direction of the consultation

Breaking News: Macau’s GGR increases less than expected in April

Macau’s gaming revenue rose less than analysts expected in April, the third straight month that the casino business disappointed as the gambling hub awaits the reopening of global travel. Gross gaming

Breaking News: Las Vegas Sands sells its properties in USD6.25b deal

Las Vegas Sands Corp. (LVS) today (Wednesday) announced that it has entered into definitive agreements to sell its Las Vegas real property and operations, including The Venetian Resort Las Vegas

Gaming | Lawrence Ho predicts Macau recovery in second quarter

The gaming sector could begin showing signs of recovery as early as mid-March, said Lawrence Ho, chairman and CEO of Melco Resorts and Entertainment in a conference call after the

Gaming | MGM records 78% revenue drop in 2020

MGM China saw revenue fall by 78% to approximately HKD5.1 billion in 2020, with a negative adjusted EBITDA of approximately HKD1.4 billion, the gaming operator announced in a statement. The gaming

Breaking News: China to ‘crack down’ on cross-border gambling; warns against online betting during CNY

Mainland Chinese authorities have urged Chinese nationals who are involved in cross-border gambling activities to turn themselves in, according to a notice co-drafted by the Supreme People’s Court, the Supreme

Macau’s GGR up 2.6% in January on premium mass, luck volatility: experts

Macau’s gross gaming revenue (GGR) advanced 2.6% in January this year, month-to-month, to MOP8.02 billion, the Gaming Inspection and Coordination Bureau (DICJ) released the city’s up-to-date gaming statistics yesterday. The January

Gaming | Las Vegas Sands hands reins to Robert Goldstein after Adelson’s death

Las Vegas Sands Corp. named acting Chief Executive Officer Robert Goldstein as permanent CEO following the death of The company also promoted two longtime executives: Patrick Dumont, previously executive vice

Billionaire right-wing patron Adelson buried in Jerusalem

Sheldon Adelson, the billionaire casino magnate who made prolific donations to right-wing politicians and causes in the United States and Israel, was laid to rest in Jerusalem on Friday. Adelson, a

Sheldon Adelson passes away at 87

The Las Vegas convention visionary and philanthropist spearheaded a major project to bring the Sands name to Macau, opening the first Las Vegas-style casino in May 2004. Las Vegas Sands Corp.

Casinos end their worst year with little sign of recovery

Macau casinos ended their worst year on record with little sign of progress in a recovery, though hopes remain for a rebound in the world’s largest gambling hub later in

MGM Growth interested in buying the Venetian Casino in Vegas

MGM Growth Properties LLC is willing to acquire a big Las Vegas Strip casino such as the Venetian - which Las Vegas Sands Corp. recently put on the block -

Adelson’s Las Vegas Sands exploring $6 billion sale of Vegas casinos

Sheldon Adelson is considering the unthinkable: selling his Las Vegas casinos. After decades as one of the biggest magnates on the Strip - presiding over properties like the Venetian and before

The upside in Crown Sydney ‘was from the international VIP business’: Packer

Crown Resorts Ltd.’s billionaire shareholder James Packer today (Thursday) acknowledged he knew that junket operations in Australian casinos were vulnerable to money laundering, and that there were rumors that some

Billionaire Packer says he didn’t consider Stanley Ho ban in Melco deal

Crown Resorts Ltd.’s billionaire shareholder James Packer pushed for a tie-up last year between Australia’s biggest casino operator and Hong Kong-based Melco Resorts & Entertainment Ltd. This was despite prohibitions levied

Little sign of recovery as gaming revenue falls 90% in Sept

Macau gaming revenue showed little sign of improvement, notching a sixth straight month of declines of at least 90%, as a gradual relaxation of travel and visa curbs by China has

LVS, bank agree on halt to dividends

LVS is the parent company of Macau-based Sands China and Singapore-based Marina Bay Sands, which owns the iconic tri-tower resort structure with a sky-top pool connecting the three towers. The Canadian

Macau’s gaming revenue falls 94.5% as visa ban thwarts recovery

Macau gaming revenue plunged by more than 90% for a fourth straight month, as China’s ban on tourist visas continued to deprive the gambling hub of its biggest source of

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