Tag: Gaming
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Hong Kong actor sued for HKD1.4 million over alleged unpaid casino loan
Hong Kong actor Jacky Heung is facing legal action from MGM China Holdings after allegedly defaulting on a substantial casino loan at its Macau property. MGM ... -
Gov’t revises 2025 gaming tax revenue downward by 5%
The government has revised its 2025 forecast for gaming tax revenue, lowering it by 5% due to global economic conditions and changing tourist spending patterns. According ... -
Citigroup raises July GGR forecast to MOP20 billion
Citigroup has raised its gross gaming revenue (GGR) forecast for July, citing a strong start to the month driven by major entertainment events. The investment bank ... -
Cabo Verde issues final warning to Macau Legend over stalled hotel-casino project
Cabo Verde’s government has issued a final ultimatum to Macau Legend, urging the company to present a new plan for its stalled hotel-casino project in Praia ... -
Analysts hail June’s GGR as a ‘really, really strong beat’
JP Morgan Securities (Asia Pacific) Ltd hailed June gaming revenue as a “really, really strong beat,” after the city posted MOP21.06 billion in gross gaming revenue ... -
Closing VIP rooms signals big changes for gaming industry
The government’s strict regulation of the gambling industry, highlighted by the new Gaming Law, has led to a complete transformation of once-glorious VIP rooms and satellite ... -
Sports betting concession extended for one year
The government has extended the sports betting concession of Macau Slot Co Ltd, the city’s sole operator in this sector, until June 5, 2026. The renewal, ... -
‘The 13’ reportedly sold at a steep discount
The 13 Hotel in Seac Pai Van has reportedly been sold, marking the end of a tumultuous chapter for the ultra-luxury property, which once proclaimed itself ... -
Citi: Jacky Cheung concerts boost premium mass gaming in June
A series of concerts by Hong Kong pop icon Jacky Cheung is largely credited with generating more gross gaming revenue (GGR) in June than previously forecast, ... -
SJM’s satellite casino closures to have limited credit impact, says Fitch
SJM Resorts’ plan to close seven of its nine satellite casinos by the end of 2025, while potentially acquiring two others, is expected to have limited ... -
Analysts assess impact as satellite casino closures shake the market
Analysts are weighing in on the wider implications of the recently announced satellite casino closures. Of Macau’s 11 remaining satellite casinos, nine are affiliated with SJM ... -
Gov’t to shut down most satellite casinos, 6,000 jobs affected
Nine of the current 11 satellite casinos are set to close their doors for good following the three-year “transitional period” granted by the government for the ... -
Analysts: revised GGR target seen as foreseeable
The government’s recent 5% downward revision to its 2025 gross gaming revenue (GGR) forecast, proposed last week, was “not a complete surprise,” according to Fitch Solutions ... -
Robert Goldstein expresses disappointment over operator’s performance
Robert Goldstein, chairman and CEO of Las Vegas Sands (LVS), expressed disappointment over the current performance of Sands China and the Macau gaming market during the ... -
Analysts: Gaming sector shows first genuine growth since Covid-19
Following the release of May’s gross gaming revenue (GGR) results, which hit a post-pandemic high of MOP 21.19 billion with a strong May Day Golden Week ... -
Casino revenue hits highest level since January 2020
Gross gaming revenue (GGR) in May generated MOP21.19 billion, marking the highest monthly total since January 2020, just before the pandemic and local lockdowns. The increase ... -
Citi: May GGR forecast raised 1.2% as outlook improves
Investment bank Citigroup has raised its forecast for Macau’s gross gaming revenue (GGR) in May to MOP21.25 billion, up from MOP21 billion. This revision reflects stronger-than-expected ... -
CLSA: Tourism diversification draws more visitors, lowers spending per capita
According to a recent outlook report by brokerage CITIC CLSA, ongoing efforts to diversify Macau’s tourism sector beyond gaming are attracting more leisure tourists, but the ... -
Citi: GGR tops MOP13b so far in May
Local gross gaming revenue (GGR) increased to an estimated MOP12.7 billion in the first 18 days of May, according to a Citigroup memo released earlier this ... -
MOP30 billion generated from non-gaming initiatives in 2023
The non-gaming investment plans for 2023 by the city’s six gaming concessionaires generated over MOP30 billion in gross production value for Macau’s economy, according to Secretary ... -
SJM Resorts COO Ben Toh due to retire
SJM Resorts’ Chief Operating Officer, Ben Toh, is set to retire next week after a five-year tenure with the company. The announcement, shared internally with staff ... -
Galaxy reports solid Q1 results
Galaxy Entertainment Group (GEG) reported robust first-quarter results earlier this week, driven by a rebound in the local gaming sector and increased visitor arrivals. The casino ... -
Wynn Macau earnings drop; Billings signals cautious approach to Japan expansion
Wynn Macau’s operations reported an earnings decline in the first quarter of 2025, with volatile VIP gaming results eclipsing gains in the mass-market and non-gaming segments. ... -
US casino operators face rising geopolitical and economic risks: Fitch
U.S. casino operators in Macau are facing mounting geopolitical risks amid intensifying trade tensions between China and the United States, according to a recent report released ... -
Gaming Casinos hit Golden Week jackpot
The premium mass gaming sector soared to record levels during the recent Golden Week holiday, reflecting strong player enthusiasm despite ongoing Sino-U.S. trade tensions. Citigroup’s monthly ... -
Macau’s gaming revenue in April exceeds expectations
Macau’s gaming revenue (GGR) rose unexpectedly in April, signaling a potential boost in tourism ahead of China’s Golden Week holiday. According to data from the Gaming ... -
SJM Holdings Returns to Profit in Q1
SJM Holdings Limited posted a profit of HKD31 million in the first quarter of 2025, marking a sharp rebound from a loss of HKD74 million in ... -
Sands China completes major redevelopment of Londoner Grand ahead of Golden Week
Sands China has confirmed the full opening of all 2,405 rooms and suites at the newly refurbished Londoner Grand, just in time for the upcoming May ... -
Paradise Entertainment plans Kam Pek Casino transition by year-end
Paradise Entertainment Ltd. is aiming to transition its Kam Pek Paradise casino to a new business model by year-end, aligning with the city’s updated gaming regulations, ... -
Casino projections revised amid economic uncertainty, dependence on Chinese tourism
Gaming analysts are adjusting their forecasts on the city’s gaming industry, factoring in both global economic uncertainties and local market conditions, as the sector’s reliance on ... -
Analysts warn US-China tensions could affect SAR’s gaming industry
The ongoing friction between China and the United States over issues like TikTok and the Panama Canal ports could spill over into Macau’s gaming industry, experts ... -
Thailand postpones discussion of casino bill, leaving local parties on ‘standby’
The Thai government is delaying a parliamentary debate on a bill to legalize gaming in casinos in the country, Bloomberg reported. According to the report, the ... -
Analysts expect April to be another ‘flat’ month on GGR
Senior analyst for Global Gaming at investment research company Seaport Research Partners, Vitaly Umansky, noted in a report on Tuesday that the firm expects another “flat” ... -
Casino revenue slightly increases to MOP19.7b in March
Gross gaming revenue (GGR) in March totaled MOP19.66 billion, representing a marginal year-on-year increase of 0.8% from the MOP19.50 billion recorded in March 2024. Official data ... -
Gov’t ensures rigorous oversight of casino operators’ non-gaming investments
The Secretary for Economy and Finance, Tai Kin Ip, emphasized during a recent meeting at the Legislative Assembly that the government will continue to oversee operators’ ...
