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Casino
April 22, 2021
Macau Continues to See its Gaming Market Rebound with New Gains
The good news is that Macau’s gambling scene appears to be headed in the right direction, with increases in gross gaming revenue (GGR) and run rates being reported in April. The bad news, though, is that it seems like the increases are bringing with them the return of certain bad elements, as the number of […]
Industry
April 15, 2021
Macau Could Be Positioning Itself Closer to Use of China’s Digital Currency
Several months ago, a disturbing report surfaced that indicated that Macau might be considering adopting China’s new digital currency, the digital yuan, as the primary currency at the city’s casinos. The rumors were initially refuted by city leaders; however, the revelation had been made by sources involved with the initiative. Now, there’s no denying the […]
Industry
April 14, 2021
Macau’s Gaming Market off to a Slow Start in Q1 2021
Macau was hit harder than most cities when the COVID-19 began to emerge. Having relied heavily on gaming for years, the sudden stop in international travel and the shutdown of the city’s casinos brought Macau to its knees, with several months reporting almost zero revenue. 2021 could eventually show some recovery, but it’s not happening […]
Casino
April 1, 2021
Macau March GGR Report Showed No Signs of Industry Recovery
The Gaming Inspection and Coordination Bureau in the Special Administrative Region (SAR) of China Macau released revenue figures from games of fortune for March, posting gross gaming revenue (GGR) of MOP8.31 billion ($1.04 billion). Far from Pre-Closure Levels March GGR represented an increase of 13.6% to the MOP7.31 billion the gaming industry in Macau generated […]
Industry
January 17, 2021
Chinese New Year Unlikely to Boost Macau Casinos Revenue
Local authorities in a number of Chinese provinces on the mainland cast fresh doubts on any prospects for the gaming industry in Macau after issuing advisory notes to their residents to avoid travelling during the festive Chinese New Year period, GGRAsia speculates in an article. Quiet Chinese New Year in Macau China’s State Council set […]
Industry
January 11, 2021
Macau Gaming Stocks to Gain in 2H21 Due to Concession Extension, New Hotel Room Supply
Gaming stocks in Macau have lost momentum due to the pandemic, but Morgan Stanley analysts expect a rise in late 2021 – early 2022 boosted by three key areas. Revenue in 2021 to Reach 65% of Pre-Pandemic Levels The current price of Macau gaming stocks has dropped significantly, аnalysts at investment bank Morgan Stanley point […]
Business
January 8, 2021
MGM China Has No Plans for Company Restructuring
MGM China, following a statement from its parent company MGM Resorts in response to a letter sent by the Chinese subsidiary’s largest public shareholder Snow Lake Capital, released a statement of its own, claiming the company has no plans for ownership restructuring. Open Letter to MGM Resorts The letter from Snow Lake Capital which holds […]
Industry
January 8, 2021
Macau to Help China’s Efforts in Enforcing New Overseas Gambling Law
Authorities in Macau are ready to assist Mainland China in enforcing a law criminalizing promotions that incite citizens to visit overseas destinations and gamble. Macau to Assist Mainland China in Combatting Overseas Gambling Macau will play ball with China’s new law criminalizing certain aspects of the gambling industry, and specifically focusing on tourist agencies organizing […]
Business
January 7, 2021
Snow Lake Capital Urged MGM Resorts to Sell 20% in MGM China
MGM Resorts would achieve synergies and ensure a retendering of the MGM China concession in Macau if it sells a 20% stake from its Chinese subsidiary to a strategic partner from the internet or travel and leisure industries in China, Sean Ma, Founder and CEO of Snow Lake Capital investment fund wrote in a letter […]
Casino
January 7, 2021
Trump’s Executive Order Could Harm US Casinos in Macau
President Trump’s executive ban on several Chinese apps could have big implications for US Companies in China, Macau and Taiwan. Executive Ban on Chinese Apps US President Donald Trump’s recent executive order to ban several high-profile Chinese apps may spell trouble for Macau’s three US casino operators. Macau is one of the gambling capitals of […]