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Mass gaming leads SJM Holdings to 241% year-on-year increase in GGR to US$722 million

Macau concessionaire SJM Holdings reported gross gaming revenues of HK$5.66 billion (US$722 million) in the three months to 30 June 2023, up 241% year-on-year and 35% higher than the March quarter. However, gaming revenues were still at just 56% of pre-COVID levels, largely due to the collapse of the junket industry. Group-wide VIP GGR was just 15%…
Industry
Mass gaming leads SJM Holdings to 241% year-on-year increase in GGR to US$722 million
Sigma

Macau GGR revives, casino stocks on the rise

The first eight days of January saw the average daily Macau casino gross gaming revenue (GGR) more than quadruple the daily average attained in the fourth quarter. JP Morgan Securities (Asia Pacific) Ltd projected Macau daily GGR at MOP2.1 billion (US$261.1 million) for the first eight days of the new calendar year, "implying around MOP260 million…
Finance
Macau GGR revives, casino stocks on the rise
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iGaming Business

Changing money could key Macau casino recovery

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…
Finance
Changing money could key Macau casino recovery
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Macau Casinos to Invest $15bn Into Non-Gambling Areas

Macau casinos will invest $15bn mostly towards non-gambling interests over the next decade. [Image: Shutterstock.com] Six Macau casinos will invest $15bn predominantly towards non-gambling activities over the next ten years as part of their new license agreements. part of the new license agreements the casinos signed last month The non-gaming…
Travel
Macau Casinos to Invest $15bn Into Non-Gambling Areas
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World Casino News

‘Golden Week’ cheer for Macau casino industry

The casino hotspot of Macau reportedly attracted more than 182000 visitors during the recent'Golden Week' holiday period with approximately 89% of these having travelled into the former Portuguese enclave from mainland China. According to a report from GGRAsia citing official information from the Macao Government Tourism Office, the figure for the…
Industry
‘Golden Week’ cheer for Macau casino industry
Business Live

Casino stocks jump as Macau gets ready to welcome back Chinese tour groups

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.…
Finance
Asia Financial

Macau Casino Shares Soar as China Allows Tour Groups to Return

Macau casino operators shot up to 13% on Monday after the city's leader gave some long overdue good news. Macau chief executive Ho Iat Seng said on Saturday that China would resume an internet visa scheme for travellers from the mainland and permit group tours. This was music to the ears of casino operators, who have suffered nearly three years of…
Covid
Macau Casino Shares Soar as China Allows Tour Groups to Return
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Macau Casino Shares Soar as China Tour Groups to Return

On the back of news Macau will welcome back tour groups from mainland China in November, shares in the Special Administrative Region's casinos have soared, including Sands China. [Image: Shutterstock.com] Sands China's shares have risen 13% after Macau CEO Ho Iat Seng announced mainland China tour groups can return to the gambling hub in November.…
Covid
Macau Casino Shares Soar as China Tour Groups to Return
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World Casino News

Unexpected runner enters the Macau casino licensing race

In Macau and a company linked to the boss of prominent Asian gambling operator Genting Malaysia Berhad has reportedly applied for one of the enclave's coming ten-year casino licenses. According to a report from Inside Asian Gaming, Macau is home to almost 40 casinos run by a sextuplet that encompasses MGM China Holdings Limited, Wynn Macau…
Law
Unexpected runner enters the Macau casino licensing race
Markets Insider

The Future of Macau, Asia's Las Vegas, Hangs in the Balance

With gaming revenues six times that of the Las Vegas Strip, it's not hard to see why Macau is often called the "Las Vegas of Asia." The tiny island in the South China Sea known for its glitzy casinos and shopping malls. Macau's GDP in 2019 stood at $55.19 billion, of which $36 billion came from gaming revenues. The GDP starkly dropped to $29.91…
Travel
The Future of Macau, Asia's Las Vegas, Hangs in the Balance
World Casino News

Tax reduction possibility for Macau casino firms

American investment bank JPMorgan Chase and Company has reportedly forecast that the over 40 casinos in Macau could boost their earnings by up to 15% a year should the local government decide to decrease the rate of its gross gaming revenues tax. According to a report from GGRAsia, this estimate comes as the enclave's Legislative Assembly is…
Finance
Tax reduction possibility for Macau casino firms
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Macau Casinos See First GGR Rise Since September 2019

After a difficult 2020 impacted by the effects of the COVID-19 pandemic, Macau casinos saw gross gaming revenue (GGR) increase for the first time since 2019 last month. Macau gaming revenue totaled MOP 7.31bn ($915.3m) for the month of February According to data released by Macau's Gaming Inspection and Coordination Bureau (DICJ), Macau gaming…
New Year
Macau Casinos See First GGR Rise Since September 2019
GGRAsia

Macau VIP 2Q negligible for casino profit: JP Morgan

Macau VIP gross gaming revenue (GGR) for the second quarter has been estimated by a brokerage at only about 20 percent of pre-pandemic levels, and "virtually negligible for the sector's profit and cash flows". JP Morgan Securities (Asia Pacific) Ltd gave the view in a Thursday note, following the official release of the June GGR numbers, which…
Covid
Macau VIP 2Q negligible for casino profit: JP Morgan
GGRAsia

Macau casino GGR falls 79pct in full year 2020: govt

Macau's casino gross gaming revenue (GGR) shrank 79.3 percent year-on-year in calendar year 2020, amid the disruption to travel and the economy caused by the Covid-19 pandemic. The data was released on Friday by the local regulator, the Gaming Inspection and Coordination Bureau, a body also known as DICJ. Calendar-year GGR was approximately…
Covid
Macau casino GGR falls 79pct in full year 2020: govt
GGRAsia

Macau casino GGR down 9pct m-o-m in February: govt

Macau casino gross gaming revenue (GGR) declined 8.9 percent sequentially in February, to MOP7.31 billion (US$914 million), compared to just above MOP8.02 billion in January, according to data issued on Monday by the city's casino regulator, the Gaming Inspection and Coordination Bureau, a body also known as DICJ. February GGR was up 135.6 percent…
New Year
Macau casino GGR down 9pct m-o-m in February: govt
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