#Beijing

The Las Vegas hospitality sector's propensity for invention - and more importantly, reinvention - certainly helps to drive about 40 million annual visitors to the city. And the cutthroat competition on the Strip not only ensures a nonstop parade of new and upgraded accommodations, shows, and attractions; but it has also turned Sin City into a…

Invariably, a hot-streaking enterprise like Las Vegas Sands (NYSE:LVS) raises concerns about whether it can continue skyrocketing. Obviously, no one wants to buy at the peak only to hold the bag later. However, Las Vegas Sands may indeed overcome objections based on a key catalyst: China, China, China. Therefore, I am bullish on LVS…

Gloom has eased in Macau with the end of China's'zero-Covid' policy, but there's a still a long road to recovery as mainland authorities oppose gambling and attempt to stem outward capital flow. One simple change could ease Beijing's concerns about funds illicitly exiting via Macau while making it simpler and cheaper for mainland Chinese tourists…

Chinese police have solved more than 37000 cases involving cross-border gambling this year, the Ministry of Public Security said in a statement yesterday. Since the beginning of this year, police operations nationwide busted over 2600 online gambling platforms, more than 1100 casinos, and in excess of 2500 illegal payment platforms and underground…

MONTICELLO, N.Y. - Soon after the white coach bus pulled up on a recent Monday morning, the passengers stepped off into the frigid cold. Outside, they rushed to the nearest tree, railing, wall or grassy knoll to stash their plastic bags crammed with thermoses of rice and soup. With their lunches stowed away, they headed into the gleaming casino at…

The largest casinos got an early Christmas present last month after China renewed their licenses in Macao for another 10 years. While the likelihood of being denied renewal was small after they had invested billions of dollars in the gambling mecca and spent billions more on developing nongaming activities at the behest of Beijing, it was still a…

Macau's six casino operators pledged to invest nearly $15 billion as part of new 10-year contracts they signed to operate in the world's biggest gambling hub, with the spending on non-gaming activities to exceed gaming spend by more than 10 times. The signing of the contracts eases fears of investors and executives after a lengthy bidding process…

Three Las Vegas-based companies got a welcome boost Saturday when the Macao government announced they had been granted provisional approval to continue operating casinos in the Chinese enclave for the next 10 years. Macao's special administrative region government announced Saturday that MGM Resorts, Las Vegas Sands, Wynn Resorts along with three…

Macau's decision to keep its same six casino operators, rejecting Genting Malaysia's bid, comes as no surprise. Equally unsurprising, this concession re-tendering process is another squandered opportunity for the world's once and future leading casino hub. Macau has made stunning progress since the first concession awards in 2002. Breaking a losing…

Macau casino stocks have jumped since early November. Beijing announcing existing licences will be renewed and hopes of an end/easing in covid restrictions are seen as key reasons for the stock rises. Sands China (Sands China) currently at HK$24 is up over 57% in the last month. Wynn Macau (WYNN)- currently at HK$7.74 is up 121% over the month. MGM…

BEIJING - Macao has tentatively renewed the casino licenses of MGM Resorts, Las Vegas Sands, Wynn Resorts and three Chinese rivals after they promised to help diversify its economy by investing in non-gambling attractions, the government said Saturday. The announcement is positive news for owners who have invested billions of dollars to build the…

Macao reported another disappointing month of gaming revenue in November with the region reporting winning $374.4 million, a 55.6 percent decline from November 2021. Macao's Gaming Inspection and Coordination Bureau on Thursday said the region has had only one month - February - in which the region's 39 casinos made more money than they did a year…

Wynn Macau led an improvement of Macau gaming stocks on Monday, November 28th in Hong Kong, following the city's government announcement over the weekend that its six current casino operators will acquire new licenses to operate in the largest gambling center in the world from January. Continued stability for Macau operators: Shares of Wynn Macau…

Tennis is a sport that's not just for the pros. It can be played by anyone at any level and is a great way to stay in shape, enjoy some fresh air, and meet new people. You can play tennis on your own or with friends and family members. Console video games and online gambling games are other options. At some of the best online casinos that payout…

BEIJING - Losing money due to COVID, the American casino giants that helped make Macao the "Las Vegas of Asia" face a fresh challenge: The tiny Chinese territory wants them to help reduce its reliance on gambling by paying to build theme parks and other attractions. The former Portuguese colony stayed out of business decisions for decades and now…

Philippine officials say they have shut down at least 214 illegal Chinese offshore gambling operations and deported the first six of nearly 400 Chinese workers who have been detained under a renewed crackdown MANILA, Philippines -- Philippine officials say they have shut down at least 214 illegal Chinese offshore gambling operations and deported…

Mainland Chinese residents will be allowed to visit Macau using an online visa system as of Tuesday, officials said, streamlining travel to the world's largest gambling hub after more than two years of pandemic restrictions. Macau is the only place in China where casinos are legal and the former Portuguese colony once dwarfed even Las Vegas for the…

Good morning, and welcome to the Indy Gaming newsletter, a weekly look at gaming matters nationally and internationally and how the events tie back to Nevada. If a colleague or associate emailed this newsletter to you, please to sign up and receive your own copy of Indy Gaming in your inbox. - Howard Stutz Caesars Entertainment's entrance into an…

Macau is pressing ahead with plans to recognize digital currency as legal tender, offering the possibility that China's digital yuan might one day be accepted in the world's largest gambling hub. Last week, Macau's Executive Council (ExCo) reviewed the latest draft of its Legal Regime for the Creation and Issuance of Money, which addresses what is…

Japanese gaming tycoon Kazuo Okada was arrested by police authorities at Ninoy Aquino International Airport earlier this week, months after his group launched a "violent" takeover of the $2-billion Okada Manila casino complex, Philippine press reported yesterday. The Philippine National Police arrested Okada at Naia Terminal 1 at 5:40 a.m. Monday…

Macau's government opened bids today from seven companies, including a wildcard from Malaysian operator Genting, for licenses to operate casinos in the world's biggest gambling hub, kicking off a closely watched battle for six available slots. Macau's top officials including the city's Economy and Finance secretary Lei Wai Nong and Secretary for…

ONLINE GABMLING. File photo of PAGE 2019 (the Phil-Asian Gaming Expo) at SMX Convention Center in Pasay on July 12 to 14, 2019. Photo by Rappler (1st UPDATE) Senate President Juan Miguel Zubiri says Chinese Ambassador Huang Xilian shared the information with him during a courtesy call on October 10 MANILA, Philippines - Senate President Juan Miguel…

Global gambling operator Genting Group was a surprise entry into the bidding war for a Macau casino license two weeks ago. Now, recent reports from Asia-facing analysts and executives suggest the firm has a strong chance of wresting a license from one of Macau's big six operators. encouraged to come in" According to a Reuters report on Thursday,…

HONG KONG, Sept 30 (Reuters) - Malaysian group Genting has emerged as a strong contender to unseat an incumbent Macau casino operator for a new license, analysts and executives say, unleashing possibly the biggest shakeup in the world's largest gambling hub in over two decades. Only six slots will be available for the seven applicants, Macau's…

The Philippines intends to shut down 175 online gambling firms and deport about 40000 Chinese nationals who are working for them, as pressure builds on the government to crack down on the shadowy online gaming sector. An official from the Ministry of Justice announced the plan on Monday, citing the ecosystem of criminal activities that has grown…

The Philippines will stop operations of 175 offshore gambling firms and deport about 40000 Chinese workers, a justice ministry official said on Monday, part of a crackdown on the notoriously opaque online gaming industry. The sector emerged in the Philippines in 2016 and grew exponentially, as operators capitalized on the country's liberal gaming…

Macau casino stocks surged the most in six months on Monday after the city announced plans to welcome back tour groups from mainland China as soon as November, a breakthrough for the gaming hub's Covid-19-hammered, tourism-dependent economy. Wynn Resorts soared as much 15% on Monday to $68.89 in New York, the biggest intraday gain since November.…

Casino operators in China's biggest gambling city are breathing a sigh of relief, as tourist groups have been given the green light to visit. Businesses have been struggling since Beijing implemented a crackdown on corruption, and the Covid-19 pandemic battered the world's biggest gambling hub. Tourism is a major pillar of Macau's economy, and the…

Malaysia's Genting challenges incumbents as licences up for renewal in world's top gambling hub People walk past Casino Lisboa in Macau. (Reuter File Photo) HONG KONG: The government of Macau opened bids on Friday from seven companies, including a wildcard from Malaysian operator Genting, for licences to operate casinos in the world's biggest…

Owning it: I have been following the shares of Las Vegas Sands (NYSE: LVS) for five years, for any number of reasons that most investors share with me. It is the global leader of the gaming industry, having been built from the Las Vegas legacy of the original Sands, home of the famous Rat Pack of Frank Sinatra, and decades later, its extension to…

RESORTS WORLD. Signage of Genting Malaysiau2019s Resorts World is displayed at its casino, hotel, and entertainment park in Genting Highlands, Pahang, Malaysia, September 16, 2022. Hasnoor Hussain/Reuters All six incumbent Macau players submit bids, together with GMM Limited, a holding company of Genting Group chairman Sri Lim Kok Thay HONG KONG -…

HONG KONG (Reuters) - Macau's government opens bids on Friday from seven companies, including a wildcard from Malaysian operator Genting, for licenses to operate casinos in the world's biggest gambling hub, kicking off a closely watched battle for six available slots. Macau's top officials including the city's Economy and Finance secretary, Lei Wai…

HONG KONG, Sept 16 - Macau's government opened bids on Friday from seven companies, including a wildcard from Malaysian operator Genting, for licenses to operate casinos in the world's biggest gambling hub, kicking off a closely watched battle for six available slots. Macau's top officials including the city's Economy and Finance secretary Lei Wai…

HONG KONG, Sept. 16 (Reuters) - The Macao government opens offers from seven companies on Friday, including a wildcard from Malaysian operator Genting, for casino licenses at the world's largest gambling center, kicking off a closely watched battle over six available slot machines. Macao's top officials, including Lei Wai Nong's city's economic and…

The purpose of this article is to discuss Las Vegas Sands Corp. (NYSE:NYSE: LVS) as an investment option at its current market price. The company is a developer and operator of integrated resorts that feature luxury hotels, gaming, retail, dining and entertainment, catering to both tourists and business clients. Premier locations exist in Singapore…

To quickly answer the question posed in my headline: not yet. But the Cambodian government needs to at least put this possibility on the table, to set a fire under the feet of the casino owners. A statement must be made by Phnom Penh that casinos have less than 12 months to turn the current dire situation around. If they fail, then regular gambling…

The Macao SAR government has set a deadline of September 14 for gambling operators to submit bids for new licences, due to begin at the start of 2023. The licences of the six current operators, three U.S.-owned, will expire at the end of December. The Covid pandemic and the resultant restrictions on travel have caused the worst three years in the…

What started out as a game of dice between friends, has now grown into a juggernaut of entertainment, dining and unique gambling experiences. Post-covid, a lot of major casino developments have been kicked into the long grass. Although delayed, they are coming. Not least, the remarkable $5 billion Moon World Resorts, destined for Las Vegas; a…

Thailand police have arrested a Chinese fugitive wanted by Beijing for allegedly running illegal online gambling operations, and will soon extradite him to China as per authorities. According to Thailand's deputy police spokeswoman Kissana Phathanacharoen, She Zhijiang, 40, a Chinese national who also holds a Cambodian passport, was detained last…

BANGKOK, Aug 15 (Reuters) - Thai police have arrested a Chinese fugitive wanted by Beijing for allegedly running illegal online gambling operations and will soon extradite him to China, the police told Reuters on Monday. She Zhijiang, 40, a Chinese national who also holds a Cambodian passport, was arrested last week based on an international…

Macao, the most lucrative casino gaming market in the world since 2006, is taking a page from an old Strip playbook. Remember those efforts to draw families to Las Vegas in the 1990s? Casino companies across the valley built thrill rides, roller coasters and Strip-front entertainment to attract audiences to their resorts. That's what's in store for…

This week's gambling news comes from Las Vegas via Macau, China, which has been shut down for two weeks due to the latest coronavirus outbreak. Our Macau lockdown update finds this new surge of COVID-19 could cost Macau billions, and is already costing Las Vegas gaming companies like MGM Resorts, Wynn Resorts, and Las Vegas Sands millions. As the…

You know you are in deep trouble when one of the leading newsletters in your industry discusses the "silver lining" in being shut down: "Macau Casino Closures Provide Some Relief from Cash Burn." Asia Gaming Brief Macau casinos have so few gamblers, in fact, so little revenue of any kind, that the government finally ordering them completely closed…

By JOE McDONALD AP Business Writer BEIJING (AP) - Streets in the gambling center of Macao were empty on July 11 after casinos and most other businesses were ordered to close while the Chinese territory near Hong Kong fights a coronavirus outbreak. Losing money due to COVID, the American casino giants that helped make Macao the "Las Vegas of Asia"…

MGM Grand Macau casino resort is closed in Macao, Monday, July 11, 2022. Streets in the gambling center of Macao were empty Monday after casinos and most other businesses were ordered to close while the Chinese territory near Hong Kong fights a coronavirus outbreak. (AP Photo/Kong) BEIJING -- Losing money because of covid, the American casino…

Losing money due to COVID-19, the American casino giants that helped make Macao the "Las Vegas of Asia" face a fresh challenge: The tiny Chinese territory wants them to help reduce its reliance on gambling by paying to build theme parks and other attractions. The former Portuguese colony stayed out of business decisions for decades but now is…

BEIJING (AP) - Losing money due to COVID, the American casino giants that helped make Macao the "Las Vegas of Asia" face a fresh challenge: The tiny Chinese territory wants them to help reduce its reliance on gambling by paying to build theme parks and other attractions. The former Portuguese colony stayed out of business decisions for decades and…

Wynn Resorts (NASDAQ: WYNN) stock and Las Vegas Sands (NYSE: LVS) stock are both declining 8% in early morning trading. Casino stocks are slumping after new Covid-19 restrictions were imposed in the Chinese region of Macau. Although Wynn and Las Vegas Sands are based in the U.S., they both own multiple casinos in Macau. After the new coronavirus…

The large collection of casinos in the Asian city of Macau reportedly saw their aggregated gross gaming revenues for June plummet by over 62% year-on-year to hit a 21-month low of just over $306.47 million. According to a Friday report from Inside Asian Gaming citing official information from the enclave's Gaming Inspection and Coordination Bureau…

Game developers Grande Games, SpinX Games and Beijing Bole Technology agreed to pay $3.5 million to resolve claims that they violated Washington law with gambling apps. The settlement benefits Washington residents who played Cash Frenzy, Lotsa Slots, Jackpot World, Vegas Friends, Jackpot Mania, Jackpot Fever, DAFU, Cash Bash and Jackpot Crush…

The pandemic has been a time to stop and think about whether the traditional land-based gaming model works. Most have decided in favor, but this has not come without a shift of attitude towards the interactive gambling landscape. Largely seen as a good boost to the economy, online casinos are no longer the taboo they once were in even the most…

RENO, Nev. (AP) - State regulators have approved a gambling license for the first newly constructed casino in the Reno-Sparks area more than two decades. The Nevada Gaming Commission voted Thursday to approve the license sought by Las Vegas-based Olympia Gaming for the Legends Bay Casino in Sparks. For copyright information, check with the…

It has been a fraught period for casino concessionaires in Macau. The Special Administrative Region (SAR) surely did not make it very easy when it comes to whether everyone actually understands what is happening on the legislative side. First, it was said that junkets would go, and then - satellite casinos. But then, after a closer look at the…

Good morning, and welcome to the Indy Gaming newsletter, a weekly look at gaming matters nationally and internationally and how the events tie back to Nevada. If a colleague or associate emailed this newsletter to you, please to sign up and receive your own copy of Indy Gaming in your inbox. - Howard Stutz A U.S. Supreme Court ruling last week was…

HONG KONG, June 15 (Reuters) - Macau's government will formally sign a six-month licence extension for casino operators in the world's largest gambling hub on June 23, local broadcaster TDM reported on Wednesday, an expected move ahead of licence expirations due this month. The extension, to Dec. 31, allows more time for a highly anticipated…

Macau casino stocks saw selling pressure again on Monday after a flareup of COVID cases in China led to officials in Beijing and Shanghai ramping up testing policies again. While the number of COVID case in the nation is still only in the hundreds, there is no clear indication that the government will back off from a zero-tolerance policy anytime…

Good morning, and welcome to the Indy Gaming newsletter, a weekly look at gaming matters nationally and internationally and how the events tie back to Nevada. If a colleague or associate emailed this newsletter to you, please to sign up and receive your own copy of Indy Gaming in your inbox. - Howard Stutz Five Southern Nevada casinos that never…

HONG KONG, June 7 (Reuters Breakingviews) - Shareholders in blank-cheque firm 26 Capital (ADER.O) are getting more than they bargained for. It agreed in October to buy casino Okada Manila, but a long-running legal battle over the resort turned physical when its ousted boss seized the property last week. If that doesn't scupper the planned merger,…

Macau casino revenue has plunged to an 18-month low amid the ongoing impact of the pandemic on the gaming destination. Revenue for April fell 68% from a year earlier as the world's biggest gambling hub suffers from a tourist drought related to China's Covid lockdown measures. According to official data from the Gaming Inspection and Coordination…

Global brokerage and investments firm Morgan Stanley has reportedly warned that the combined debt of the six licensed casino operators in Macau could exceed $25 billion by the end of the year owing to China's ongoing strict travel restrictions. According to a report from Inside Asian Gaming, the New York-headquartered financial services giant also…

Casino operators in Macau, once the world's largest gambling center, are facing serious challenges due to Beijing's decisions to tighten travel rules and clamp down on junkets. Macau's Court of Final Appeal on Monday ruled that operators and junkets organizers were jointly liable for client deposits in nine cases filed by VIP gamblers, who demanded…

Macau is considering the introduction of a tax cut and revised conditions for "satellite casinos" as the city's gaming industry -the world's largest gambling hub in pre-pandemic years- continues to struggle amid the ongoing impact of Covid-19. The possibility comes as casino revenue plunged to an 18-month low in April. According to Bloomberg, the…

Las Vegas Sands (LVS 15.06%) and Wynn Resorts (WYNN 13.17%) finished the week in the black, according to data from S&P Global Market Intelligence, while Caesars Entertainment (CZR 10.36%) erased most of a large deficit after Shanghai officials announced they will end weeks of strict lockdowns and attempt to reopen again in a few days. Sands ended…

Gross gaming revenue in Macau fell 68% year-over-year during April to 2.68B patacas ($331M), which marked the lowest tally for the gambling region in 18 months and fell short of the expectation of analysts. Revenue fell 27% in April from the level recorded in March and was 89% off from the pre-pandemic level of April of 2019. COVID restrictions in…

Macau casino stocks moved lower after developments in China over the weekend increased concerns that the COVID disruption will extend. Beijing is now a region of increased focus with authorities in the capital sealing off entrancing of public housing blocks and closing off entire streets with wire mesh fences, according to Reuters. Meanwhile, the…

Good morning, and welcome to the Indy Gaming newsletter, a weekly look at gaming matters nationally and internationally and how the events tie back to Nevada. If a colleague or associate emailed this newsletter to you, please to sign up and receive your own copy of Indy Gaming in your inbox. - Howard Stutz Tom O'Brien returned to Aristocrat…

When many people think of casinos, they imagine the ones from movies like Ocean's Eleven. The average casino that you see in a movie is massive, decorated with marble and glass, and on the Las Vegas Strip. In reality, most casinos are nothing like this. Your average small-town casino is not going to have champagne servers and a black-tie dress…

Macau is tightening the noose on casino regulations in the special administrative region (SAR) as a new rule would now require casino licensees to make sure that they disclose any major financial decision they make to the government. In fact, the SAR government would expect the chief executive to be informed about any significant financial moves…

Shares for three of Macau's major casino operators fell an average of 9.4% with the introduction of new quarantine rules for travelers from mainland China. [Image: Shutterstock.com] Shares for three of Macau's six casino giants have plummeted an average of 9.4% after the Hong Kong government applied tighter quarantine rules for travelers in…

LAS VEGAS (KLAS) - A company that sells air purification products says there's a major hotel-casino on the Las Vegas Strip where indoor air quality is at least four times worse than any of the other 27 resorts where measurements were taken. Wynd, the company that published the report in late January, doesn't name the property, but says it had air…

Andy Sekula, Head of Games at Kalamba An increasing number of industry titans in recent years have moved into video games and many video game outfits have turned their eye to offering'gambling' elements within games.

HONG KONG, March 3 (Reuters) - Casino companies in Macau will have their licences extended by six months, public broadcaster TDM reported on Thursday, citing a city official, allowing more time for a highly anticipated rebidding process in the world's biggest casino hub. Economy and Finance Secretary Lei Wai Nong, speaking after a Legislative…

Last summer's legalization of single-event sports gambling in Canada is turning into a good news, bad news story for B.C. Lottery Corp. (BCLC). According to its three-year service plan, published Feb. 22 with the provincial budget, the Crown gambling monopoly predicts seven per cent revenue growth in the 2022-23 fiscal year through its PlayNow…

THE 24th WINTER OLYMPICS is underway and some of the UK's leading bookmakers are offering new customers a whole host of free bets. The Games take place in Beijing, with it becoming the first city to host both the summer and winter games, with the opening ceremony taking place on Friday. Action has already begun prior to the opening ceremony with…

Unlike Hong Kong, Macau has long been nicknamed "the good kid" by Beijing. It was a playground for high rollers from the mainland, who turned this semi-autonomous port city into the world's richest gambling hub. Macau lived under the same "one country, two systems" political model as Hong Kong, just 62 kilometres away, allowing it to also operate a…

Macau's casino operators are breathing a sigh of relief, as the city outlines amendments to casino regulations that are far better than at first feared. It's a moment of respite after a horrible couple of years. The world's largest gambling hub will offer six casino concessions, the government announced on Friday, but will slash the concession…

A day after casino stock Las Vegas Sands Corp. (NYSE: LVS) was hit with a Wall Street downgrade, the stock bounced back on Tuesday when it was upgraded by another analyst. The Analyst: JPMorgan analyst Joseph Greff upgraded Las Vegas Sands from Neutral to Overweight and raised his price target from $36 to $48. The Thesis: In the upgrade note, Greff…

The year 2022 is likely to be challenging for bricks and mortar casinos in the Asia-Pacific (APAC) region, due to a combination of factors including the decline of junkets that have for years hosted Chinese gamblers in Macau and elsewhere in Southeast Asia, and the ongoing travel restrictions linked to the Covid-19 pandemic. That is according to a…

Online gambling can be a lot of fun, with many different games available day or night. There are many different gambling activities, including casino games, slot machines, and blackjack. Many people enjoy occasional bets with no urge to play. It's a social thing with no real allure. But for some problem gamblers, games of chance have a strong pull…

Casinos in Macau, the world's biggest gaming hub, now face uncertainty amid COVID-19 restrictions and an ongoing Chinese government crackdown on the profitable junket business. The enclave, which heavily relied on this market -by arranging transportation, accommodation and credit to gamble for VIP clients-, now looks to everyday gamblers for relief…

Scified2021-12-01 07:10:362021-12-01 07:10:36https has long moved out of the realm of conspiracy theories to form part of the mainstream. Classic movies like The Thing, Alien, Star Wars, and Men in Black are popular culture. Moreover, there are many casino slot machines about science fiction. The game themes include extraterrestrial life,…

Alvin Chau, the CEO of gambling group Suncity Group Holdings Ltd, is the founder of the biggest of Macau's junket operators - outfits that bring in high rollers to play at casinos. He was arrested on Sunday by Macau authorities over alleged links to cross-border gambling. A warrant for his arrest has also been issued in China. Analysts say his…

By Paul R. La Monica, CNN Business So much for the house always winning. Casino stocks have had a brutal year. Penn National Gaming, which operates more than 40 US gambling locations, has plunged 40% this year. That makes Penn, which also owns a 36% stake in Dave Portnoy's Barstool Sports betting and entertainment company, one of the worst…

B efore the pandemic, Macau was the world's most lucrative gaming market in the world. But after nearly two years of outbreaks and lockdowns, which largely closed the borders of the autonomous region belonging to China to visitors, gambling revenues for the last 10 months are still down 70% compared to pre-pandemic levels. Macau casino stocks are…