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Industry
January 10, 2023
JP Morgan Reevaluates Q1 Expectations for Macau’s Gaming Sector
The global leader in financial services, JP Morgan, reevaluated the expectations for Macau’s gaming operators for the first quarter of 2023, a report released by IAG reveals. Operators in Macau Expected to Start Economic Recovery This Year DS Kim, an analyst for JP Morgan, explained that the company anticipates seeing the non-gaming GGR start its […]
Industry
January 9, 2023
Macau Extends Compliance Period for Electronic Gaming Machines
Details of the electronic gaming machines (EGM) Technical Standards 2.0 emerged last year. The change sought to introduce rules that ensure the same technical standard for gambling operators, protect the consumers and help with the development of the market. EGMs Need to Comply with New Rules Now, a new report by IAG reveals that the […]
Business
January 4, 2023
Taxes from Gambling in Macau Decrease in November 2022
In light of the COVID-related restrictions and decrease in traveling, the Macau SAR Government has seen a decrease in tax revenue recently. Macau Gambling Taxes Halt at $194M in November Overall, Macau’s six casino concessionaires contributed a total of MOP$1.56 billion ($194 million) in November 2022, a recent report released by IAG reveals. When compared […]
Industry
January 4, 2023
Number of Licensed Junkets in Macau Continues to Decline
The crackdown on junkets amid alleged ties with criminal organizations started late in 2021. Back then, Alvin Chau, who used to be the CEO of the popular junket Suncity Group was arrested. Then, early last year, Tak Chun Group’s CEO was also apprehended over alleged ties to criminal organizations and illegal gambling. Number of Licensed […]
Casino
January 3, 2023
Macau’s Three-Day New Year’s Visitation Numbers Disappointed
Macau international visitation numbers during the three-day New Year’s holiday from December 31, 2022, to January 2, 2023, plunged compared to the same period in the year before. Down between 33% and 42% The Special Administrative Region (SAR) of China saw an aggregate of around 62,000 tourists for the holiday, bringing the total number of […]
Legal
January 2, 2023
Gambling Concessionaires in Macau to Pay New Casino Floor Fee
The taxation of gambling plays an important part in the regulation of the activity and raises invaluable revenue for local and country-wide initiatives. Currently, gambling operators in Macau pay a 35% tax on their gross gaming revenue. The operators are due to pay another 5% of their gross gaming revenue in the form of tax […]
Business
January 2, 2023
Sands China Set to Hand Out Discretionary Allowance to 99% of Staff
After announcing a series of changes that would help it comply with Macau’s gaming regulation upgrades at the beginning of December, Las Vegas Sands’ Macau-located arm, Sands China Ltd, has prepared a discretionary allowance for 23,000 of its employees. All eligible full-time staff members will receive the payment on January 18 as a token of […]
Industry
January 2, 2023
Macau Sees GGR Plunge by 50% in 2022
The numbers reflect the continued pressure that uncertain regulation and reemerging COVID-19 outbreaks applied on the industry, nobbling concessionaires’ ability to run their business as usual and drive meaningful results from gaming operations. Macau Clocks Its Worst Year Since 2004 Gross gaming revenue was posted at MOP$42.2 billion for the full year, or roughly around […]
Industry
January 2, 2023
Macau Hopes to See Visitations Go Up to 40,000 a Day
The economy may be in the doldrums, but Macau has a plan – it involves dramatically increasing the number of tourists who come to visit the Special Administrative Region in 2023. This has been confirmed by Maria Helene de Senna Fernandes, the head of Macau’s Government Tourism Office. Tourism in Macau Braced to Pick Up […]
Industry
December 22, 2022
Morgan Stanley: Macau GGR to Surpass $22B in 2027
Macau’s gross gaming revenues have taken quite a hit. The COVID-19 pandemic and the sporadic resurgence of the virus have devastated the tourism sector in the special administrative region, by extension greatly impacting gambling. Analysts were somewhat hopeful about the industry’s recovery in the second half of 2022 but sadly, it continued to underperform despite […]