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Casino
December 20, 2022
MGM Resorts to Invest $2B in Macau Following New Concession
International casino operator MGM Resorts has announced its plans to invest two extra billion in its Grand Paradise casino in Macau, China. Despite the recent setbacks experienced by the special administrative region’s gaming industry, MGM Resorts continues to firmly believe in the region’s potential. MGM Resorts Will Support Its Macau Subsidiary MGM Resorts’ Chinese subsidiary, […]
Business
December 19, 2022
Wynn Macau to Invest $2.2B Following Changes in Concessions
Wynn Macau Spending Big Wynn Macau announced it’s planning an investment of MOP17.8 billion (approximately $2.22 billion) in the special administrative region (SAR). A big piece of these investments is going to be focused on expanding revenue through non-gaming enterprises. This is a general trend that’s expected, as the SAR announced that broadening their non-gaming […]
Industry
December 19, 2022
Macau Casino Concessionaires Sign Contracts for the Next 10 Years
On December 16, Representatives of Galaxy Entertainment Group Ltd., MGM China Holdings Ltd., Sands China Ltd., Wynn Macau Ltd., Melco Resorts & Entertainment Ltd., and SJM Holdings Ltd. and the Macau authorities attended an official ceremony where they signed their license contracts for the next 10-year period. The official event was followed by press conferences […]
Industry
December 14, 2022
Macau Concessionaires to Sign Ten-Year Extension on Friday
The Macau SAR government is preparing to sign the new 10-year gaming contracts extension with the city’s six incumbent concessionaires, Inside Asian Gaming reported. The signage is expected to take place on Friday, and it is the dawn of a new era for the regulated gambling sector in the Special Administrative Region. The next ten […]
Industry
December 12, 2022
Macau Outlines Separate Gaming Zones for Foreign and Chinese Visitors
Macau’s Executive Council provided further details on Friday as to how gambling operations in the Special Administrative Region (SAR) will work moving forward. Concessionaires will have to establish areas that cover non-Chinese and Chinese visitors, with both gaming spaces being exclusive and dedicated. Macau Goes with Segregated Approach to Foreign and Domestic Gamblers Non-Chinese […]
Casino
December 6, 2022
Sands China Inks $377M Trademark Renewal with LVS
There is a lot of uncertainty about the region’s recovery, however, continued developments and large investments by operators are enough to make some more optimistic. Sands China is the latest licensee that’s had to make some changes to comply with Macau’s gaming law updates, and this trademark agreement is a natural step in the company’s […]
Legal
December 6, 2022
Macau Concessionaires File Compensation Claims Against Chan and Defendants
Macau casino concessionaires have filed legal compensation claims against Levo Chan, former CEO of junket operator Tak Chun Group, and several other defendants in connection with the case, which Macau’s Public Prosecution Office initiated at the beginning of August. Four Macau Casino Concessionaires Seek Compensation Totaling $16.8 million GGRAsia reported that Wynn Resorts (Macau), SJM […]
Industry
December 6, 2022
Macau to Reveal Satellite Casinos upon Signing Concessionaire Contracts
Satellite casinos are not out of the picture in Macau, and their names will be revealed very soon, said the SAR’s secretary for economy and finance Lei Wai Nong who spoke to the Legislative Assembly on Monday. Satellite Casino Numbers to Be Revealed at the Time of Signing with Concessionaires Moving forward, all satellite casinos […]
Business
December 1, 2022
Sands China Restructures Share Capital of Macau Subsidiary New Gaming License
Sands China Ltd, a Macau-based resort developer, and operator, has announced that it would restructure the share capital of its Macau subsidiary, Venetian Macau Ltd (VML), which detains its Macau gaming license in order to comply with Macau’s new gaming law. The restructuring of VML’s share capital will prepare the company for a new ten-year […]
Industry
December 1, 2022
Macau GGR Continues to Decline in November
Macau’s gambling industry has failed to experience the recovery the region’s government hoped for. According to the latest data, casinos in the special administrative region had gross gaming revenue of just $374 million. FY GGR Will Be Much Lower than Estimated The $374 million Macau concessionaires earned in November represent a 55.6% year-on-year decline. Furthermore, […]
