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Casino
June 27, 2022
Macau Casinos to Operate with Minimum Staff as Cases Boom
As the number of new COVID-19 cases continued to grow in Macau, the Special Administrative Region (SAR)’s Gaming Inspection and Coordination Bureau (DICJ) asked casino operators to cut the number of their gaming floor personnel and enhance testing and protection procedures. Implement Prevention Guidelines The DICJ turned to casino operators in a statement Sunday, asking […]
Industry
June 23, 2022
Credit Suisse: Macau Recovery Slower than Previously Estimated
Macau, the former global gambling Mecca, is facing a slow recovery if projections from Credit Suisse are to become true: the investment bank estimates gross gaming revenue in 2024 will only reach 80% of the 2019 level. Mass GGR Recovery Slower than Anticipated Credit Suisse released the forecast in a note Wednesday, stating that the […]
Legal
June 21, 2022
Macau Legislative Assembly Passed New Laws
The Macau Legislative Assembly has finally passed the discussed gambling amendments into the law. Lawmakers almost unanimously agreed on the new laws with just one member disagreeing with a single clause. Members of the Assembly discussed all the changes one more time, addressing each article individually. After that, they got to voting and approved the […]
Legal
June 21, 2022
Macau: Alvin Chau to Face Trial This September, Says Report
Suncity’s former CEO, Alvin Chau, is set to appear in court this autumn along with other suspects, a new report reveals. Former Suncity Boss to Go to Trial This Autumn Allegations against Chau include cross-border gambling, claiming that he organized a network that allowed rich China residents to gamble in Macau, the world’s richest gambling […]
Casino
June 21, 2022
Macau Casino Stocks Fall as COVID Cases Boom
The biggest COVID outbreak to date in Macau, which means new restrictions, social distancing, and a huge amount of testing, resulted in falling casino stocks on June 20. The cases are not that many, amounting to a total of 36, and the casinos are still open but the closure of public services, parks, schools, and […]
Casino
June 20, 2022
Macau’s GGR for June Expected to Nosedive
An uptick in the COVID-19 infections in Macau has forced the entire Special Administrative Region (SAR) to shut down. At the time of writing this, 34 total cases have been reported by the Novel Coronavirus Response and Coordination Centre, Macau’s authority tasked with enforcing the zero COVID policy of mainland China. Casinos Remain Open, But […]
Industry
June 20, 2022
Macau Continues Mass Testing While Keeping Casinos Open
China’s vainglorious attempt to keep the spread of the COVID-19 infection under to a zero has been punctuated by on-again-off-again lockdowns that have translated into a grim outlook about Macau’s recovery and plunging business bottom lines. On Monday, the Chinese territory has begun its second day of intensified testing which will take a sample from […]
Legal
June 16, 2022
Macau’s New Gaming Law Raises Contribution Payments by 1%
Macau casino concessionaires are facing a tax hike among other changes according to the latest version of the Special Administrative Region (SAR)’s new Gaming Law. Subtle Tax Hike The Second Standing Committee of the Legislative Assembly has been discussing Macau’s new Gaming Law for over four months but Wednesday saw its last discussion before the […]
Casino
June 16, 2022
SJM to Run Grand Emperor Hotel Casino for Another Six Months
Hong Kong-based Emperor Entertainment Hotel Ltd will let concessioner SJM Holdings Ltd run the satellite casino at the Grand Emperor Hotel for another six months despite the service agreement with SJM expiring on June 26. In order to keep the casino running, SJM shall have to pay fees of HKD 21.0 million ($2.6 million) to […]
Industry
June 15, 2022
Wynn Resorts Provides Wynn Macau with a $500M Loan
Wynn Resorts has vowed to continue investing in Macau despite the hurdles the region is facing. To prove this, the gambling giant loaned $500 million to its Wynn Macau arm, helping it recover from COVID-19. Wynn Resorts Lent $500M to Wynn Macau Wynn Macau will use the money to bolster its business and mitigate the […]
