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Business
January 4, 2021
SJM Employees to Receive Living Subsidy Payment on January 6
SJM Holdings Limited revealed that some of its employees will be receiving a living subsidy bonus. The bonus payments will be done in two equal installments this month and in July. Eligible SJM Employees to Receive Living Subsidy Bonus SJM Holdings Limited, which is the holding company of Sociedade de Jogos de Macau, S.A. (“SJM”) […]
Casino
January 2, 2021
Macau December Revenue Completed the Worst Year on Record
The casino industry in Macau registered in December another month to forget, to complete the worst year on record, the Monthly Gross Revenue from Games of Fortune report released by the Gaming Inspection & Coordination Bureau revealed. December YoY Decline Less than in November Casinos in the Special Administrative Region (SAR) of China showed little […]
Casino
January 2, 2021
Macau Casinos Extend Furloughs to 2021 to Help Recovery
Voluntary unpaid leave for staff extends in more than four Macau Casinos in 2021. At least four of Macau’s six casino operators approached by GGRAsia have already extended furlough for their staff to 2021. Gaming Staff in Macau Takes Voluntary Unpaid Leave Six gaming operators in Macau were approached by GGRAsia with questions about their […]
Casino
January 2, 2021
Macau’s Annual Casino GGR Crash to 79.3% in 2020
With 2020 over, Macau has posted its worst year to date for the special administrative region’s casino industry. Macau’s GGR Collapses to 79.3% YOY Macau has turned the key on its worst year for gambling to date, with casino gross gaming revenue (GGR) plummeting by 79.3% year-over-year in 2020. All of that has been caused […]
Legal
December 30, 2020
JP Morgan Outlines China Criminal Law Amendment Implications
The criminal law amendment in China seeking punishment for organizers of trips with gambling purposes outside the country for mainland residents could make junket operators who used to bring high-rollers to Macau casinos anxious, a Tuesday memo from JP Morgan Securities (Asia Pacific) outlines. Junket Industry under Threat The ban effective from March 1, 2021 […]
Legal
December 29, 2020
Macau Police Force Stops $1.78 Billion Criminal Network
Macau’s Judiciary Police and Chinese authorities have stopped a $ 1.78 billion criminal operation. Macau Stops Illegal Operation Macau’s Judiciary Police announced on Tuesday that it had successfully stopped an illegal point-of-sale (POS) operation in the gambling capital of the world. According to the report, the alleged criminal operation has been running since 2016. Since […]
Industry
December 21, 2020
Gaming Law Advisor Antonio Lobo Vilela Leaves His Post in Macau
Macau law specialist Antonio Lobo Vilela is leaving his current post as senior advisor to the city’s Secretary for Economy and Finance at the end of this year. He has been at this post since 2016 and he is currently the official who supervises the city’s gaming market. Macau Gaming Law Expert António Lobo Vilela […]
Industry
December 20, 2020
Macau November Tax Revenue Up 203% Compared to October
A glimmer of hope for the fading casino industry in Macau was given by the latest financial data release by the city’s Financial Services Bureau, showing Macau government collected two times more in tax revenue in November compared to October. November Twice as Good as October The government in the Special Administrative Region (SAR) of […]
Casino
December 16, 2020
The Londoner Macao Set to Open Ahead of the Chinese New Year
Sands China is planning on opening its newly-rebranded The Londoner Macao property, GGRAsia reported, noting the availability of bookings for stays at the resort starting from January 22. Phase 1 Celebration According to the press release issued by the Chinese subsidiary of Las Vegas Sands (LVS) on Tuesday, the company is scheduling an official ceremony […]
Industry
December 15, 2020
Wynn CEO: Macau Operators Would Benefit From Functioning US-China Relations
Wynn Resorts CEO Matt Maddox told the AGA that improving the tense relations between the US and China could benefit Macau’s casino operators. Softening the US-China Relationship is Crucial The tense relationship between the United States and China could improve under the Biden administration, according to Matt Maddox, Wynn Resorts CEO. Better relations would benefit […]