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VOA

Can Macao Become Asia’s Las Vegas?

Macao, the former Portuguese colony that has become the world's biggest gambling city in recent years, is embarking on an experiment to remake itself, but it's unclear if it will succeed. Visitors to the city see a difference compared to 10 or 20 years ago. There are new and bigger casino resorts - from The Londoner to MGM Cotai - and they no…

Travel ・ 25 February 2024

iGaming Business

Saipan casino saga slithers toward second attempt

Over the past decade, Imperial Pacific International's Saipan casino project has gashed a path of destruction across the Commonwealth of Northern Marianas Islands, specks of US Pacific territory at least four hours' flying time from Asian markets. Among the ruins: unfinished, shuttered Imperial Palace casino hotel despoiling Saipan's downtown…

Incidents ・ 27 May 2023

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 ・ 09 January 2023

Reuters

Analysis: Macau casinos deal themselves a tough hand with big non-gaming investment pledges

New casino licenses with shorter contracts took effect Jan. 1 Operators suffered worst year on record in 2022 amid COVID-19 Challenges include diversifying from core gaming, labour shortages HONG KONG, Jan 3 (Reuters) - (This Jan. 2 story has been refiled to correct Melco's name and stock symbol in the second paragraph) As casinos in Macau begin…

Finance ・ 04 January 2023

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Portland Press Herald

With casinos struggling, ‘Las Vegas of Asia’ looks to reduce reliance on gambling

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…

Covid ・ 07 November 2022

Malysiakini

Genting makes surprise bid for Macau gambling license

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…

Law ・ 16 October 2022

Vegas Slots Online

Genting Has “Strong Chance” for Macau Casino License

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,…

Travel ・ 30 September 2022

Reuters

Analysis: Genting aims to upend Macau casino landscape in bidding war

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…

Covid ・ 30 September 2022

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Bangkok Post

Macau casino bids include surprise

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…

Covid ・ 22 September 2022

Rappler

Gambling giant Macau opens bids from 7 casinos, Genting a wildcard

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 -…

Covid ・ 16 September 2022

WHTC

Gambling giant Macau opens bids from seven casinos, with one firm to lose

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…

Covid ・ 16 September 2022

Malay Mail

Gambling giant Macau opens bids from seven casinos, Genting a wildcard

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…

Covid ・ 16 September 2022

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Bollyinside

Macau's gambling giant opens offers at seven casinos and one company may lose

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…

Covid ・ 16 September 2022

Vegas Slots Online

Malaysian Billionaire Makes Bid for Macau Casino License

Malaysian billionaire Lim Kok Thay, chairman of Malaysia's Genting Group, was confirmed as a bidder for a Macau casino license. raises doubt that all of the incumbent license holders will return Thay was the seventh candidate to enter the fold ahead of the Wednesday night deadline. There are only six license spots up for grabs, which raises doubt…

Travel ・ 14 September 2022

Northwest Asian Weekly

‘Las Vegas of Asia’ tells casinos to grow beyond gambling

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"…

Covid ・ 14 July 2022

The Arkansas Democrat

Macao casinos told to branch out

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…

Travel ・ 12 July 2022

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NZ Herald

Macau casinos close as Covid and licensing review add to tourism woes

The Las Vegas of Asia has been dealt a tough hand this week. The Chinese SAR Macau was forced to close all casinos for the first time since the outbreak of the pandemic and there are growing pressures on premises to diversify away from gaming. 19000 people have been put under quarantine in the city state with the Macanese Government Information…

Covid ・ 12 July 2022

The Diplomat

Macao, ‘Las Vegas of Asia,’ Tells Casinos to Grow Beyond Gambling

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…

Covid ・ 11 July 2022

WNYT

'Las Vegas of Asia' tells casinos to grow beyond gambling

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…

Covid ・ 11 July 2022

Vegas Slots Online

Macau Casino Shares Fall as COVID-19 Ravages China

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…

Covid ・ 14 March 2022

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GGRAsia

Junket exit, pandemic 2022 risk for APAC casinos: pundits

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…

Covid ・ 31 December 2021

Reuters

Macau's casinos pin hopes on everyday gamblers after junket shutdowns

HONG KONG, Dec 21 (Reuters) - Macau's casinos face a bleak short-term outlook after shutting most of their lucrative gaming rooms catering to wealthy gamblers and as COVID-19 travel restrictions prevent the shift to mass-market customers that they will depend on in the future. The former Portuguese colony that is the world's biggest gambling hub in…

Covid ・ 21 December 2021

Market Screener

Arrest of Macau's 'junket mogul' rattles the world's largest gambling hub

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…

Incidents ・ 01 December 2021

SBNation

China's casino crackdown part of quest to transform Macau

To many investors, Macau's push to extend oversight over the world's largest gambling hub came as a shock, triggering a record selloff in casino shares. To long-term observers, however, it was just the latest move in China's grand plan to transform the $24 billion economy. For years, Beijing has been focused on trying to control an industry that's…

Incidents ・ 25 September 2021

CNN

Chinese gamblers defying a ban at home are powering the Philippines' casino boom

Nearby, rows of Chinese nationals sit at desks chatting on cellphones with potential clients back in China.This is what a typical POGO -- or a Philippine Offshore Gaming Operator -- looks like, according to descriptions provided to CNN by several gaming experts. Some are based in abandoned malls, while others are found in converted parking lots or…

Covid ・ 06 February 2021