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Business
January 1, 2021
Playtika Plans a US Public Listing after Chinese Hopes Dashed
After three futile attempts to go public in China, Playtika is turning a hopeful eye to the United States where 75% of the company’s revenue is realized. Playtika Readies up to Change Chinese for US Dream Playtika, a developer of mobile casino-style games, is finally pulling away from its long-coveted market in China, after authorities […]
Legal
December 30, 2020
JP Morgan Outlines China Criminal Law Amendment Implications
The criminal law amendment in China seeking punishment for organizers of trips with gambling purposes outside the country for mainland residents could make junket operators who used to bring high-rollers to Macau casinos anxious, a Tuesday memo from JP Morgan Securities (Asia Pacific) outlines. Junket Industry under Threat The ban effective from March 1, 2021 […]
Legal
December 29, 2020
Gambling Trip Organizers to Receive Prison Sentences in China
According to a recent change to China’s Criminal Law, organizers of overseas trips with the intent to gamble may face charges and a sentence of up to 10 years. The tough measure may be a part of China’s crackdown on gambling and comes into effect on March 1 next year. Changes to Criminal Law Incriminate […]
Industry
December 15, 2020
Wynn CEO: Macau Operators Would Benefit From Functioning US-China Relations
Wynn Resorts CEO Matt Maddox told the AGA that improving the tense relations between the US and China could benefit Macau’s casino operators. Softening the US-China Relationship is Crucial The tense relationship between the United States and China could improve under the Biden administration, according to Matt Maddox, Wynn Resorts CEO. Better relations would benefit […]
Legal
December 9, 2020
TripAdvisor Banned in China in New Anti-Gambling Sweep
Chinese authorities have cracked down on 150 apps in the country, including popular travel platform TripAdvisor, citing fears of illegal gambling and other illicit operations. China Pulls the Plug on TripAdvisor from Local App Stores China has swept 150 apps under the rug, arguing that the software has been targeting Chinese citizens and posed a […]
Industry
December 6, 2020
JP Morgan: No Room for Panic for Macau Casinos for Now
Macau gambling industry is still struggling to rebound from the coronavirus impact and the subsequent restriction measures resulting in $27 billion less revenue this year, when a new existential threat is on the horizon: the adoption of the digital currently backed by the People’s Bank of China (PBC), the digital yuan. Junkets Facing an Existential […]
Legal
December 2, 2020
Macau Regulator Denies Reports of E-Yuan Gaming Options
After a report by Bloomberg that Macau’s casinos will replace FIAT currency with e-yuan, the city’s gambling regulator has denied the rumors outright. No E-Yuan for Macau’s Casinos, Says Regulator A recent report by Bloomberg has suggested that the Gaming Inspection and Coordination Bureau (DICJ) in Macau may be preparing to introduce the e-yuan as […]
Industry
November 24, 2020
Mainland Demand, Ease of Travel Restrictions to Boost Macau
Recovery in Macau is qualified as medium-term bullish, says Morgan Stanley, which has expressed positive outlook for the special administrative region on Monday. Macau’s Road to Recovery May Not Be too Far Ahead Chinese nationals may yet play a significant role in Macau’s gaming recovery, with Morgan Stanley assigning on Monday a medium-term bullish recovery […]
Legal
November 16, 2020
Crown: China Arrests Down to Bona Fides Honest Assumption
The New South Wales (NSW) inquiry into Crown’s suitability to hold a casino license is getting into its final stages and a counsel for Crown told the inquiry executives at the company acted “with bona fides and honesty” when assessing the risk for its employees in China in 2016. Final Submissions Crown is making its […]
Casino
November 5, 2020
Macao’s Recovery Expedited by China’s Crackdown on Junkets
Junket operators restrictions force more of these companies to drive VIP and high roller players to Macao exclusively at the behest of Beijing. This could be the essence of the administrative region’s recovery. Tougher Stance on China’s Junkets Could Mean Higher Revenue for Macao Macao was the first gaming hub in the world to […]