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Casino
July 27, 2020
Macau: 25,000 Casino Employees Tested for COVID-19
Some 25,000 casino employees were tested for COVID-19 in Macau. While the country is near the bottom of the list with total COVID-19 cases, all 25,000 tests came back negative. More Than 25,000 Casino Employees Tested for COVID-19 in Macau Late last week, the Macau Health Bureau has announced that it tested more than 25,000 […]
Casino
July 23, 2020
LVS: Second Quarter Net Loss of Nearly $1B
Las Vegas Sands (LVS) issued its second quarter financial results Wednesday, giving investors a taste of what the material impact of the ongoing health crisis onto the largest casino operators was. LVS posted a net loss of $985 million for the three months ending June 30, a huge drop from the more than $1.1 billion […]
Casino
July 14, 2020
Guangdong Eases Travel to Macau, Lifts 14-Day Quarantine
The restrictions related to travelling from mainland China to Macau moved one step closer to easing after the Chinese province of Guangdong announced today it will be lifting the 14-day mandatory quarantine for travelers from Macau, effective July 15. Small Step in the Right Direction The announcement from Guagdong is a move in the right […]
Casino
July 12, 2020
Hong Kong Still Slow to Lift Traveling Restrictions to Macau
The government in Hong Kong is trying to introduce a screening process that would allow officials to clear some residents for travel to whitelisted locations, including Macau. Hong Kong’s Health Code Implementation Delayed Again Hong Kong will most likely need more time to implement the “health code” which would allow the government to monitor citizens […]
Casino
July 6, 2020
Morgan Stanley: Macau Casinos Face Worst Ever Quarter Results
The financial results from the second quarter of 2020 for the Macau casinos are yet to be announced but Morgan Stanley already painted a picture of doom and gloom, estimating the industry is on course for more than $1 billion loss in Q2. June Casino Revenue Down Last week the Gaming Inspection and Coordination Bureau, […]
Casino
July 4, 2020
Macau: Financial Intelligence Office Reports SRTs Decreasing
Casinos’ and other games of fortune operators in Macau’s number of submitted suspicious transaction reports (STRs) for the first half of 2020 fell significantly, showed an official report by the Financial Intelligence Office in the Special Administrative Region (SAR). The total number of reported cases for reviewing to the office amounted to 947, 31.2% down […]
Business
June 28, 2020
GGRAsia: Macau Junket Rooms May Stop Operations, Lay Off Workers
In a bid to weather what has been an unending crisis, Macau’s junket operators could resort to shuttering their gaming rooms and laying off employees en masse. Macau’s Junket Operators Face Layoffs and VIP Gaming Rooms Suspensions Macau’s entire business model was first disrupted when COVID-19 hit back in February, forcing a two-week closure. With […]
Casino
June 15, 2020
New Beijing COVID-19 Cases Unlikely to Disrupt Recovery
According to Hoffman Ma Ho Man the newly-reported cases of COVID-19 will not disrupt the overall recovery and lifting of border restrictions. Still, lifting those restrictions cannot be predicted with accuracy, Ma cautions. COVID-19 Cases in Beijing Not Very likely to Disrupt Overall Recovery GGRAsia, the leading casino business journal covering Asia’s gambling industry, has […]
Casino
June 12, 2020
Wynn Macau Proposes New Series of Senior Notes, Releases Q2 Preliminary Results
Wynn Resorts is considering issuing a series of senior notes, reveals an 8-K filing by the gaming and hospitality operator to the US Securities and Exchange Commission (SEC) Thursday. As per the information submitted, Wynn Macau is proposing to conduct an offering of the Notes to Professional Investors, with its completion subject to market conditions […]
Industry
June 1, 2020
Singapore and China Agree to Fast-Lane Essential Business Travel
Singapore’s Ministry of Foreign Affairs announced in a press release on its website Friday, China and Singapore authorities have struck an accord regarding the resumption of essential travel between the two countries in early June. The meeting that was also attended by representatives from the fields of education, trade and industry, customs, immigration, transport and […]