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Industry
November 28, 2022
Macau Awards Six Casino Licenses for the Next 10 Years
The long-anticipated news on the Macau gambling front is here – the Macau SAR Government has awarded the casino licenses for the next 10-year period and 6 concessionaires will be conducting gambling operations in the Chinese special administrative region. The Same Six Concessionaires Get Casino Licenses for the Next 10 Years The Macau SAR Government […]
Casino
November 25, 2022
Emperor Entertainment Suffers Interim Losses Due to Macau Casino Closure
According to the interim results published by Emperor Entertainment Hotel Limited, the company suffered a major fall in revenue for the six months ending on September 30, 2022, when compared to the same period in 2021. Cessation of Macau Gambling Business Impacts Total Revenue Hong Kong-listed Emperor Entertainment Hotel Limited reported HKD 108.6 million ($13.9 […]
Casino
November 24, 2022
Macau May Require Concession Candidates to Invest More
The government in the special administrative region of Macau is reportedly asking concession applicants to increase their investment. The region’s gambling industry has been struggling for a while, which may be why Macau is demanding a more substantial guarantee from to-be concessionaires. Macau Reportedly Asked Companies to Invest More TDM Portuguese Radio first reported that […]
Industry
November 21, 2022
Macau 3Q22 Gaming Services Drop 73% vs 3Q21
Macau’s economic well-being has historically been somewhat tied to its tourism and hospitality industries. The recent Q3 financials for the region reflect that perfectly. Q3 Results Affected by Recent Lockdown Macau’s gaming services exports dropped by 72.5% in the third quarter of 2022, compared to the same period last year. This fed an overall 46.7% […]
Casino
November 17, 2022
Alvin Chau Challenges Evidence Presented by Macau Judiciary Police
The case against Suncity Group former CEO Alvin Chau and 20 other defendants draws to a close as all testimonies from witnesses have already been heard and the final arguments are scheduled for November 21. Alvin Chau Challenges Evidence Presented by the Defense Ex-CEO of Suncity Group Alvin Chau and his lawyer have been challenging […]
Industry
November 15, 2022
Further Adjustments Are Made to Macau Junket Law Before Approval in December
The Second Standing Committee of the Macau Legislative Assembly is going to review the Legal Framework for Operating Games of Chance in Casinos, which has been duped by the new junket law of Macau, on November 21. New Article Addition to Clarify What Junket Activities at Macau Casinos Entail At their next meeting taking place […]
Legal
November 14, 2022
China and Cambodia Strengthen Efforts against Illegal Gambling
Cambodia and China agreed to level up their fight against telecommunication fraud and online gambling last week. The Two Countries Boost Efforts against Fraud, Illegal Gambling Li Keqiang, China’s Premier visited Cambodia last week and participated in the Association of South-East Asian Nations (ASEAN) Summit. During the event, he met with Cambodia’s Prime Minister, Hun […]
Casino
November 14, 2022
Macau’s Concessionaires Agree to Pay $12.5B Collectively in 10 Years
Macau is keen to get more bang for its license extensions concerning the casino industry in the Special Administrative Region over the next ten years. But before the administration grants any licenses, it would need some commitment on the part of concessionaires. One such commitment is for the six winners to invest a combined MOP100 […]
Industry
November 7, 2022
Macau Sets GGR Target for 2023 at $16B
The Specia Administrative Region government of Macau has submitted its forecast for next year’s budget. According to the local government, Macau should be able to generate around MOP$130 billion ($16 billion) in gross gaming revenue, or so the Legislative Assembly expects as per the latest submission by the government. It’s also the exact same amount […]
Lottery
November 2, 2022
Lottery Winner Hid $30М Jackpot from Family
On October 21, a Chinese citizen, identified only by his pseudonym Mr Li, won a jackpot amounting to 220 million Yuan (approximately $30.1 million) but decided not to tell his wife and child, because he was afraid that they would become lazy and would not work or study hard in future or they would act […]
