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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 […]
Casino
November 11, 2022
MGM Resorts Lends $750M to Macau Subsidiary
MGM Resorts agreed to provide its Chinese subsidiary with a loan of $750 million. The money will help MGM China push through the difficult times caused by the trouble in Macau’s gaming market. MGM Lent $750M to Its Chinese Arm MGM China has been struggling to deal with the ongoing situation in the special administrative […]
Casino
November 11, 2022
Galaxy Entertainment Group: Q3 Impacted by Casino Closures
Galaxy Entertainment Group (GEG) filed to the Hong Kong Exchange an announcement on certain unaudited key performance indicators for the quarter that ended on September 30, 2022. Revenue Slumped, Outperformed Industry GEG’s announcement revealed that the company and its subsidiaries registered in the third quarter of 2022 group net revenue of HK$2 billion ($255 million), […]
Legal
November 8, 2022
Alvin Chau Case Soon to Be Closed with Final Arguments Already Scheduled
Macau judicial authorities are aiming to close the case revolving around the ex-CEO and founder of Suncity Group Alvin Chau, scheduling the hearing of the final arguments from the defendants and prosecution for November 21. Macau Judge in a Hurry to Close Chau Case It seems like the judge responsible for the criminal lawsuit against […]
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 […]
Business
November 4, 2022
APE to Help Jade Entertainment Secure Macau Footprint
Asia Pioneer Entertainment (APE) and Jade Entertainment have entered a new partnership that will allow both companies to benefit and expand their product offerings in Macau. Effectively, APE will deploy its advanced services and technical support with Jade Entertainment. Jade Entertainment founder and CEO Joseph Pisano welcome the opportunity to establish this fresh partnership between […]
Industry
November 1, 2022
Macau GGR Declined by 10.7% in October
The gaming industry in the special administrative region of Macau continues to struggle with the aftermath of the pandemic. The Macau Gaming Inspection and Coordination Bureau just reported how gambling performed in October. While the results are not great, they show that there might be hope for recovery. The Bureau Posted the October Results According […]
Industry
November 1, 2022
No Irregularities around Suncity Were Found, DICJ Head Testified
Macau’s Court of First Instance dealing with the case against former Suncity boss Alvin Chau and 20 other defendants heard Monday that the city gaming regulator had found no irregularities during its past checks of the finances of the junket operator. Cross-Checking with Concessionaires Chau and the others were indicted with illegal gambling activities, running […]
Business
October 31, 2022
SJM Reports Drop in Net Gaming Revenue for Q3
Owner, operator, and developer of integrated entertainment reports and casinos in Macau SJM Holdings Ltd has published the financial results for the third quarter of 2022 along with a series of selected unaudited key performance indicators for the nine months that ended 30 September. The parent company of concession holder SJM Resorts has reported a […]
Industry
October 31, 2022
China to Introduce eVisas on November 1
China is rolling in a new online visa application system, colloquially referred to as eVisa, that will be used to allow citizens from the mainland to travel to Macau beginning on November 1. The online visa system will replace the in-place application as China continues to digitalize its services, control the inflow and outflow of […]
