Tag: Gaming
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MGM Cotai to host major poker tournament series in September
Macau’s MGM China is set to launch its first significant poker tournament series, the “2024 MGM Poker Tournament Series,” from Sept. 3 to 15 at MGM ... -
July revenue falls short of expectations amid China’s illegal money flow clampdown
The growth of gaming revenue continued to be lackluster in July, falling short of analysts’ projections despite the popular summer travel season. This could signal rising ... -
MGM eyes Thailand casino development amid strong Q2 revenues
MGM China Holdings Limited has reported strong financial results for the second quarter of 2024, revealing a significant surge in net revenues as the company sets ... -
Macau to capitalize on Thailand’s USD15b casino market
Macau is strategically positioning itself to capitalize on the potential opportunities arising from Thailand’s likely entry into the lucrative casino market, which is estimated to reach ... -
Four concessionaires eye Thailand investment: CSLA
Four of Macau’s six gaming operators are interested in investing in Thailand, according to a report from brokerage CLSA Ltd. The report suggested the annual gross ... -
DICJ cracks down on unlicensed junket activities
The Gaming Inspection and Coordination Bureau (DICJ) has intensified its crackdown on unlicensed junket activities following recent casino inspections. Under Macau’s revised junket laws, individuals must ... -
The Londoner’s overhaul shutters casino, 1,500 rooms; affects earnings
Phase 2 of The Londoner’s refurbishment involves the total closure of the Pacifica Casino and a reduction of around 52% in the quantity of room keys ... -
Lao court disregards results from international arbitration seated in Macau
The Vientiane Capital People’s Court of the Lao People’s Democratic Republic (Laos) has rejected the results of a lengthy process of international arbitration which, in February ... -
CreditSights analysis shows casino comeback decelerates as market recovers
Casino gross gaming revenue (GGR) is expected to recover to between 75% and 80% of 2019 levels, or around USD28 billion, in 2024, according to a ... -
CLSA: 2024 GGR projections down amid regulatory headwinds
CLSA Ltd has revised its forecast for the SAR’s gross gaming revenue (GGR) and earnings before interest, taxation, depreciation and amortization (EBITDA) for 2024 and 2025, ... -
Casinos embrace new baccarat side bet
A new baccarat side bet option, known as “Small 6/Big 6,” has become prevalent in all of Macau’s concessionaires’ key properties, paying up to 50 times ... -
Premium mass market resilient amid regulatory crackdown
Despite concerns over Beijing’s intensified efforts to curb illicit cross-border capital flows, Macau’s premium mass gaming segment has continued to demonstrate remarkable resilience, according to a ... -
Casino projected for EBITDA decline in Q2
The earnings before interest, taxes, depreciation and amortization (EBITDA) for Macau’s gaming industry properties are expected to decline 4% in the second quarter of 2024. According ... -
Casino revenue faces headwinds from China’s crackdown on money exchangers
Macau’s June gross gaming revenue (GGR) fell 12.4% sequentially, impacted by a crackdown on illegal money exchange networks and the ongoing Euro 2024 soccer tournament, according ... -
June casino revenue drops despite year-over-year increase
Macau’s casinos generated MOP17.69 billion in gross gaming revenue in June, up 16.4% from a year ago but down 12.4% from the previous month, according to ... -
JP Morgan: GGR falls to six-month low in June
Macau’s gross gaming revenues (GGR) have fallen to their lowest level in more than six months in June, with GGR for the first 23 days estimated ... -
Morgan Stanley sees mass gaming revenue decline in Q2
Macau’s casino industry is facing a mixed outlook for the second quarter of 2024, with Morgan Stanley predicting a decline in mass-market gross gaming revenue (GGR) ... -
Casinos limit free snacks, unlikely to impact gaming revenue
Macau’s gaming industry is undergoing a significant change as the local regulator, Gaming Inspection and Coordination Bureau (DICJ), has urged casino operators to stop offering free ... -
Gaming tax revenue down nearly 10% in May
The government reported gaming tax revenue of MOP7.15 billion for May, which is a 9.9% decline from April’s MOP7.94 billion. However, the May figure represented a ... -
MGM explores potential casino investment in Thailand
MGM China is reportedly searching for new investment options in Thailand’s proposed entertainment complex. This potential move comes as Macau’s gaming operators seek to capitalize on ... -
Casino revenue faces June slump amid weather
Macau’s casino gross gaming revenue (GGR) is expected to see a low point this year in June, due to a combination of exceptionally wet weather and ... -
LVS, Genting to invest over USD7b in resort expansion plans in Singapore
The casino industry is closely watching developments in Singapore as the city-state begins the second phase of its casino resort expansion. The resorts’ development is on ... -
JP Morgan predicts GGR decrease for June following surge in May
Macau is on course for an expected gross gaming revenue (GGR) pull-back this month after “a record high mass GGR” in May, analysts at JP Morgan ... -
Holiday boosts casinos’ revenues to post-Covid high
Macau casinos saw revenues spike to a post-Covid high in May, driven by the Golden Week holiday and the introduction of new travel permits for Chinese ... -
SJM Resorts expands satellite casino deals
SJM Resorts S.A. has revised payment caps and extended a lease agreement with two satellite casinos majority owned by co-chairman Angela Leong. According to filings Friday, ... -
Las Vegas Sands CEO embraces smart gaming tables as the ‘future of gambling’
Las Vegas Sands Chairman and CEO Robert Goldstein has described smart gaming tables as the “future of gambling,” stating that his company is “fully invested” in ... -
Premium mass players up
Premium mass players from mainland China are increasingly making multiple trips to Macau, solidifying the Special Administrative Region’s (SAR) resilience against an uncertain Chinese economy, according ... -
Casinos file surge in suspicious activity reports
Suspicious transaction reports from Macau’s gaming sector jumped 89.1% in the first quarter of 2024 compared to the same period last year according to data from ... -
Tourists account for 40% of gaming counseling
Sheng Kung Hui’s 24-hour gambling counseling hotline and online counseling has recorded 1,007 cases of distress, a year-on-year increase of 4%, of which tourists accounted for ... -
SJM expands culinary footprint with strategic acquisitions
Macau casino operator SJM Holdings has announced two separate agreements to acquire subsidiaries of its parent company, Sociedade de Turismo e Diversões de Macau SA (STDM), ... -
Citigroup raises Macau casino revenue forecast for May
Macau’s casino gross gaming revenue (GGR) is estimated to have reached MOP20.50 billion in May, according to a memo from Citigroup. This revised estimate is up ... -
Gaming industry accounts for 36% of GDP in 2023
The gaming industry accounted for 36.2% of Macau’s gross domestic product in 2023, meeting economic diversification targets, according to Chief Executive Ho Iat Seng, speaking at ... -
Macau experiences post-Labor Day slowdown: JP Morgan
Macau’s daily gross gaming revenue (GGR) declined from an estimated MOP910 million during the Labor Day Golden Week to MOPD578 million in the seven days following, ... -
Galaxy Q1 earnings double y-o-y amid disruptions over gaming flow
Gaming operator Galaxy Entertainment Group (GEG) recorded a net revenue of HKD10.6 billion, marking a 50% year-on-year increase and a 2% quarter-on-quarter rise. In a financial ... -
Macau casino shares rise as China expands travel visa scheme
Macau casino operators’ shares surged yesterday after China announced an expansion of its individual travel visa scheme to include eight additional mainland cities, a move that ...
