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Industry
June 15, 2022
Macau to Extend Casino Licenses, TDM Reports
Local Macau broadcaster TDM has reported that the government of the special administrative region will likely sign a new casino license extension on June 23. According to the reports, casino operators’ licenses will be extended for six additional months. Each Concessionaire Will Have to Pay $5.8 Million The extension comes as no surprise, considering the […]
Casino
June 7, 2022
Macau Satellite Casinos Expected to Remain Operational
Macau satellite casinos have come under a lot of fire, but there is no particular reason for concern argues Macau chief executive Ho Iat Seng who is confident that business will continue as usual for the most part. Ho Iat Seng expects that satellite casinos will not entirely cease operations and that, in fact, many […]
Casino
May 31, 2022
Oceanus Acquisition May Be SJM’s Last Satellite Casino
The courtship between Macau concessionaires and satellite casinos has most likely come to an end. The best example of that is SJM Holdings which, following its acquisition of Oceanus, will most likely not be looking to buy any additional satellite casinos moving forward, at least according to JP Morgan. SJM Holdings Unlikely to Buy More […]
Casino
May 31, 2022
SAR Concessionaires to Weather Any Storm Assures Bernstein
Brokerage firm Bernstein has remained fairly optimistic about the outlook Macau casino concessionaire have. The firm believes that the existing liquidity of the Special Administrative Region (SAR)’s companies will be sufficient to tide them over through any foreseeable future crisis, never mind any economic downturns or increased border scrutiny on the Chinese border which has […]
Legal
May 26, 2022
Arrested Suncity Members Received Their Indictments
The Macau Public Prosecutions Office has indicted Alvin Chau, the chief executive officer of the Chinese junket Suncity. This was reported earlier by Inside Asian Gaming. The Arrestees Got their Indictments According to the report, the prosecution has also issued indictments to remaining suspects and to those who were arrested because of their ties with […]
Legal
May 25, 2022
Macau’s Wong Sio Chak Trusts the Gambling Reforms
Wong Sio Chak, Macau’s secretary for security believes the ongoing gambling law reforms will not pressure employment in the sector. COVID-19 Brought Down both Crime and Profits The secretary addressed the market’s state in the “Assessment Report on the Impact of the Current Situation of the Gaming Industry in Macau on the Public Security Situation […]
Casino
May 25, 2022
Macau’s Post Golden Week GGR Picks Up Slowly
While there were fears that the impact of a lackluster Golden Week holiday would carry on, Macau has started to see an improvement in gross gambling revenue, which doubled as per the latest results, Bernstein Research reported. In the week leading to May 22, a total of MOP100 million ($12.31 million) was spent on gambling […]
Industry
May 23, 2022
Wynn Resorts Executives Exchange Salary for Shares
Several members of Wynn Resorts’ leadership team have opted to get a reduced salary in exchange for shares in the company. This is yet another effort to boost Wynn’s damaged stock. Executives Pick Shares Over Cash The most notable executive to reduce his salary was none other than Craig Billings, Wynn Resorts’ chief executive officer. […]
Industry
May 20, 2022
Bernstein: Digital RMB May Benefit Macau Gambling
Finance experts from Bernstein have analyzed how going cashless might affect Macau’s gambling economy. The analysts believe that it will revitalize the sector – something it desperately needs right now. Bernstein Spoke about Macau and Digital RMB Bernstein finance specialists have commented on the prospects of introducing China’s virtual currency, the digital renminbi (digital RMB) […]
Industry
May 19, 2022
GGR, Gaming Tax Continues to Decrease in Macau for April
A new report reveals tax revenue from gambling activities in Macau decreased significantly last month. Gaming Tax, Gross Gaming Revenue Continues to Go Down The Financial Services Bureau has announced tax proceeds from gambling activities in April hit MOP$1.48 billion ($183 million). This result marked a significant decrease of nearly 54% when compared to the […]
