Tag: Gaming
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Casinos to undergo rigorous approval process for new gaming equipment
The casino industry is undergoing a technological transformation as operators introduce smart gaming tables equipped with radio-frequency identification (RFID) technology. While these advancements aim to improve ... -
Citigroup analysts claim march GGR is recovering slightly but still flat
Analysts from Citigroup claim that March’s gross gaming revenue (GGR) is slightly higher than the previous drop, but warn that the earnings are not enough to ... -
Gaming sector sees slight increase in registered junkets
Macau currently has 24 gaming promoters registered with the Gaming Inspection and Coordination Bureau (DICJ), representing less than half of the 50 junkets authorized to operate ... -
Casino revenues in March show seasonal decline: HSBC
Macau’s gross gaming revenue (GGR) for the first 16 days of March totaled MOP10.1 billion, according to a report by HSBC Global Research. This equates to ... -
Casino revenue forecast revised amid slower start to 2025
Investment banking firm Jefferies has revised its forecast for the region’s gross gaming revenue (GGR) in 2025, lowering its prediction by 2% to 240 billion patacas. ... -
Gaming tax revenue surges to MOP88b 2024
The gaming tax revenue soared to nearly MOP88.13 billion in 2024, marking a 35% increase from the MOP65.26 billion collected the previous year, according to the ... -
SJM returns to profitability in 2024
Gaming operator SJM Holdings Limited has reported a return to profitability in 2024, marking a turnaround from previous pandemic-related losses. The company’s audited financial results show ... -
Increase in gaming tax rebates for foreign bets in 2024
The government has confirmed an increase in approved tax rebates for gross gaming revenue generated by international players in 2024 compared to the previous year. However, ... -
Job vacancies in gaming sector drop
The gaming sector saw a positive shift in its workforce by the end of the fourth quarter of 2024, according to data from the Statistics and ... -
Gaming op’s alleged unfair dismissals prompt calls for gov’t investigation
Local employees of a gaming operator have allegedly been unfairly dismissed without explanation, prompting calls for a thorough government investigation into the matter. Lawmaker Ron Lam ... -
Casino revenue rises 6.8% in February
Gaming revenues in February climbed by 6.8% year-on-year to MOP19.74 billion, surpassing analysts’ forecasts, according to the Gaming Inspection and Coordination Bureau. The positive performance was ... -
Galaxy plans major upgrades for StarWorld and F&B expansion
Galaxy Entertainment Group (GEG) has announced plans for significant upgrades to its StarWorld resort, including a revamp of the main gaming floor and lobby area, as ... -
Security chief concerned with the closing of satellite casinos
The Secretary for Security, Wong Sio Chak, has expressed concern about the potential closing of the so-called satellite casinos and is closely monitoring the situation. At ... -
MGM China seeks USD2 billion loan for refinancing: reports
MGM China Holdings Ltd. is reportedly in talks to secure a syndicated loan of approximately USD2 billion, marking its first such borrowing since the onset of ... -
Stricter than Korea: Thailand’s proposed casino bill discourages working class from gambling
Thailand’s revised draft of the entertainment complex bill outlines strict conditions for the implementation of casinos, with local punters being required to have at least THB50 ... -
Wynn expands offerings with new food hall
Wynn Resorts has announced a series of developments aimed at enhancing customer experience and driving visitation to its properties in Macau. As part of their ongoing ... -
MGM credits record-breaking 2024 to strong performance in Macau
MGM Resorts has announced that total revenue for 2024 surpassed USD16.16 billion, marking a 6.7% increase over the previous year and setting a new all-time high ... -
Casino revenue growth forecast slashed by Citi amid US tariff impact
Citigroup has sharply reduced its 2025 growth forecast for Macau casino gross gaming revenue (GGR), citing disappointing Chinese New Year (CNY) gambling volume and the implementation ... -
Casino revenue sees slight dip during CNY
The city’s casinos underperformed during the recent Chinese New Year (CNY) holiday, with daily gross gaming revenue (GGR) averaging MOP780 million. This represents a 1% decrease ... -
Suspicious transactions in casinos hit a new record in 2024
The number of suspicious transactions recorded in Macau’s casinos reached a new record in 2024, driven by the recovery of the economy and tourism. In 2024, ... -
Revenues drop 5.6% in January; analysts say decline was expected
Revenues of local casinos dropped by 5.6% in January, totaling MOP18.254 billion, according to data from the Gaming Inspection and Coordination Bureau. This figure contrasts with ... -
CreditSights: Gaming revenue to grow by 8% this year
Macau’s gross gaming revenue (GGR) is projected to grow by 8% in 2024, surpassing the government’s target for 2025, according to CreditSights. The Fitch Group division ... -
Another three gaming ops announce salary increments
MGM, Melco, and SJM joined the previous announcements of Sands and Galaxy announcing their salary increments for their workers. As expected, the three local gaming operators ... -
CNY forecasted to post a 4% GGR increase y-o-y
Analysts expect the local gaming industry to generate moderate revenue growth during the Lunar New Year (CNY) Spring Festival. In their most recent forecast, JP Morgan ... -
Gaming ops file record number of suspicious transaction reports in 2024
Macau’s gaming operators reported a record 3,837 suspicious transaction reports (STRs) in 2024, an 11.8% increase from the previous year, according to the Financial Intelligence Office ... -
Macau-based investor increases stake in Star Entertainment amid financial struggles
Star Entertainment’s financial woes have taken a curious turn as Macau-based businessman Xingchun Wang increased his stake in the company for the second time in a ... -
Touted as Macau’s threat, Thailand approves draft bill to legalize casinos
Thailand’s Cabinet approved a draft bill yesterday to legalize casinos with the aim of boosting tourism and addressing a sluggish economy. Currently, some forms of gambling, ... -
Casino revenue forecast to rise in January
Casino gross gaming revenue (GGR) is expected to rise 6.6% year-over-year and 13.3% month-over-month in January, fueled by the upcoming Lunar New Year holiday, according to ... -
Casinos with results above gov’t expectations despite December’s ‘poor’ results
Macau casinos closed the year with an accumulated gross gaming revenue (GGR) of MOP226.78 billion. The final figures released by the Gaming Inspection and Coordination Bureau ... -
New collaboration model between gaming ops, junkets
The gaming industry is witnessing the emergence of a new partnership model between gaming concessionaires and junkets. According to an interview with Ming Pao Hong Kong ... -
From sleepy monopoly to world’s biggest gaming market
Millions of visitors from around the world flock to Macau each year, a city that has evolved from a quiet destination into the “Gambling Capital of ... -
Citi: mixed signals ahead of Xi’s visit
Gaming operators are seeing a mixed outlook ahead of President Xi Jinping’s upcoming visit, according to a note from Citi analysts George Choi and Timothy Chau. ... -
Another month, another record smashed for New Jersey internet gambling
New Jersey’s red-hot internet gambling market continued to smash records in November, even as revenue inside physical casinos continued to lag behind pre-pandemic levels at six ... -
Macau faces threat to economic dominance amid Thailand’s potential gaming legalization
Macau’s casino-dependent economy could face significant challenges as Thailand moves to legalize gaming and Macau struggles to develop new non-gaming attractions, according to two industry analysts ... -
Study highlights city’s shift from gambling to cultural diversity
A recent study by researchers from Shenzhen Tourism College of Jinan University reveals a significant shift in Macau’s tourism landscape. The city, known primarily as a ...
