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Industry
September 6, 2022
Bernstein Is Skeptical about Macau’s Recovery
Finance expert Bernstein has once again commented on the situation of Macau’s gambling market. This time, the firm’s analysts discussed the special administrative region’s slight daily revenue growth. Umansky and Yang Don’t Buy the Optimism Vitaly Umansky and Shirley Yang, two finance experts at Bernstein, explained that during September’s first four days, Macau’s gross gaming […]
Legal
September 5, 2022
Chau’s Trial Postponed as Defendants Fail to Show Up
Alvin Chau’s trial has been postponed after more than half of the defendants failed to turn up on September 2. Half of the Defendants Didn’t Show Up Alvin Chau is the ex-chair of the notorious Suncity Group, a Chinese junket operator that was allegedly involved in numerous illegal gambling activities. Because of his involvement with […]
Casino
September 2, 2022
Morgan Stanley Weighs in on How New Macau Limits Impact Business
This year has been very important for the gambling industry in Macau. It’s been two years since the country basically closed its borders to outsiders, and lockdowns during the height of the pandemic meant businesses were severely crippled. As part of its preparations to recover, Macau has made some significant changes in its legislation, which […]
Industry
August 31, 2022
Macau Lifts International Travel Restrictions, Quarantine Remains
Macau finally has some good news to announce. International borders in the Special Administrative Region will be reopened starting on Thursday. This comes after almost two full years of shuttered borders which began in early 2020, blocking the outside world from accessing Macau. Macau Tries to Live with Covid-19 A total of 41 country non-residents […]
Industry
August 29, 2022
Junket and Gaming Closures See Macau’s Unemployment Increase
The dismantlement of mass junket operations in Macau has had an expected consequence – an increase in overall unemployment. In the first months of the junket clampdown, former employees of those businesses reported that they had experienced a steep decline in their finances and were struggling to adapt and find new jobs. This is not […]
Casino
August 26, 2022
Macau Unveils New Minimum Casino Revenue Threshold
Macau’s government has announced the new threshold for minimum revenue casino operators in the region must reach in 2023. The threshold is set to MOP$45.6 billion ($564 million) and it is similar to the 2022 levels. The chosen amount is considered fairly easy to reach and selected as a means of offering relief in the […]
Casino
August 26, 2022
Macau Sees Improvement in July Casino Concessionaires GGR
Macau’s July results may be a signal that the Special Administrative Region is experiencing a much-anticipated recovery. The signs for cautious optimism are all there as the July 2022 figures saw a month-over-month improvement in terms of gambling revenue collected by the six concessionaires. Improvement in Revenue Boost Hopes of Recovery The properties collected a […]
Business
August 26, 2022
Paradise Entertainment Sees Casino Management System Revenue Decline
Paradise Entertainment continued to struggle during the second quarter of the year with Q2 2022 results once again suppressed by the lingering impact of the COVID-19 pandemic, subsequent shutdowns of properties, and reduction of operational capacity. The turbulent quarter in Macau, led to the group’s loss increasing to $12 million (HK97 million), up three times […]
Industry
August 24, 2022
Trial Against Junket Boss Alvin Chau Scheduled for September 2
The trial against Suncity Group founder and former CEO Alvin Chau has been scheduled for September 2, 2022. There are over 200 charges against Chau and 20 other defendants, which were involved in money laundering and fraud among other offenses. The trial, however, is very likely to be postponed as it is expected that some […]
Industry
August 24, 2022
Macau Sees Decline in Crime as Visitation Numbers Fall
Macau’s sweeping changes across the gambling industry have presented challenges for concessionaires in the Special Administrative Region (SAR) but they have also helped clear much of the petty crime and criminal incidents that took place at gambling properties across the city. According to a new report by Macau’s security secretary Wong Sio Chak, this is […]
