Macao faces no resistance as it tightens leash on casino industry -Nikkei Asia

Related

World Casino News

Will New IR in Osaka Affect the Macau Gambling Industry

Macau, also known as "Asian Gambling Mecca," was a haven for Asian tourists who enjoyed gambling and various casino games. However, the situation might be changing since Japan decided to legalize casino gaming. New integrated resort in Osaka: Legalizing the Japanese market will possibly have a negative impact on Macau, as well as the other regional…

Industry ・ 17 April 2023

The Motley Fool

Casinos Win New Macao Licenses, but Will Shares Rise?

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…

Land-based ・ 21 December 2022

Review Journal

Three Las Vegas companies receive Macau licensing extensions

Las Vegas Sands Corp. will tear a page out of the Las Vegas playbook when it invests $3.5 billion over the next decade in launching restaurants and nongaming tourist attractions to attract international visitors there, the company announced Monday. It plans to develop several new restaurants and introduce international culinary concepts to support…

Industry ・ 20 December 2022

The Motley Fool

Casino Stocks Got Good News, but Investors Remain Wary

The stock market started the week on the wrong foot, as investors focused on threats to the health of the global economy in key areas like China. The Dow Jones Industrial Average ( ^DJI -1.45%), Nasdaq Composite ( ^IXIC), and S&P 500 ( ^GSPC -1.54%) all dropped about 1.5%, giving up a portion of their November gains. Casino stocks have been hit…

Finance ・ 29 November 2022

Wild Casino

$5,000 Welcome Bonus

Deposit bonuses are optional and must be requested by the player when making a deposit. For example, use Promo Code WILD1 to a 100% Casino bonus. Your bonus request will be assessed and, if your account is eligible for the bonus, it will be added to your account immediately.

Review Journal

Las Vegas Sands, Wynn Resorts, MGM Resorts named Macao’s gaming concession winners

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…

Travel ・ 13 December 2022

Review Journal

Las Vegas Sands, Wynn Resorts, MGM among companies lining up for Macao license.

Seven gaming companies will vie for six operational licenses in Macao, but at least one analyst expects all of the competitors will end up getting a piece of the action. The government of Macao on Friday announced six existing concessionaires - Las Vegas Sands Corp., Wynn Resorts Ltd., MGM Resorts International, and Chinese operators SJM Resorts…

Travel ・ 20 September 2022

Seeking Alpha

Las Vegas Sands: Prudent Move Here Is To Take Some Profits

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…

Covid ・ 02 September 2022

EJINSIGHT

Who wants to bid for Macao casino licences? EJINSIGHT

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…

Covid ・ 25 August 2022

RELATED LOCATION

Country

Macau

Country

Hong-Kong

Review Journal

Macao casino relicensing occurring as region recovers from shutodown of properties

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…

Strategy Guide ・ 14 August 2022

Review Journal

Macao casino reopen, but business continues to be slow and will be for some time

The good news for Macao's 41 casinos is that the government has allowed the properties to open their doors again. The bad news: Not many people are coming through them. The fact that tourists face a seven-day quarantine before being allowed into the region is one big reason for the lack of visitors, according to a source familiar with the situation…

Covid ・ 27 July 2022

Review Journal

Sands casinos among properties that will be allowed to reopen Saturday morning

Las Vegas Sands Corp., operators of casinos in Macao and Singapore, reported tepid second-quarter revenue results Wednesday as health restrictions in Macao continued to batter resort operators there. The Las Vegas-based casino company reported a loss of $440 million, 38 cents a share, on revenue of $1.045 billion for the quarter that ended June 30.…

Covid ・ 20 July 2022

Review Journal

Macao casino shutdowns extended five days

Stock market prices for the affiliates of three Las Vegas companies operating in Macao began rebounding Monday, even after a weeklong government-ordered casino shutdown was extended by five days. The casino lockdown, which began July 11 and had been set to expire Sunday, is now scheduled to end July 23. Analysts have estimated the closures will…

Covid ・ 18 July 2022

RELATED CATEGORIES

Category

Industry

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

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

CT Insider

'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

Review Journal

Weeklong Macao casino shutdown affecting Sands, MGM, Wynn begins

Macao casino resorts closed their doors Monday as a weeklong government-ordered shutdown began in the region, taking a toll on properties including several operated by three Las Vegas-based companies. Because of elevated COVID-19 case numbers, Macao Secretary for Administration and Justice Andrew Cheong Weng Chun on Saturday ordered a closure of…

Covid ・ 11 July 2022

Review Journal

Macao casinos to close as COVID-19 outbreak widens

Macao will shut almost all businesses, including casinos, for a week starting Monday as a COVID-19 outbreak in the Asian gambling hub showed few signs of abating, Macao Daily reported. Essential business operations including supermarkets and pharmacies will remain open, the report cited the city's officials as saying at a press briefing Saturday.…

Covid ・ 10 July 2022

Nikkei Asia

Downfall of Macao's junket king rocks Asia-Pacific gambling world -Nikkei Asia

Alvin Chau's Suncity Group has been forced to shut the VIP rooms it operated with all six of Macao's casino operators. (Source photos by Ken Kobayashi and Getty Images) Alvin Chau was seen as a pillar of the community but now sits in jail HONG KONG -- For years, casinos across the world prized one client type above all others: the Chinese high…

Incidents ・ 07 April 2022

Nikkei Asia

Macao extends expiring casino concessions for 6 months -Nikkei Asia

Hotel owners expected to step up lobbying against ban on hosting gambling halls On a per-day basis, Macao casinos in February had their best month since May 2021. © AP HONG KONG -- Macao will extend the operating rights of the city's six casino companies by six months until year-end as it revises its gaming law ahead of bidding for new long-term…

Law ・ 03 March 2022

Review Journal

Macao news propels stock prices for some Las Vegas casino operators

The stock prices of two Las Vegas-based gaming companies with operations in Macao soared Friday after the government there clarified its casino licensing framework following earlier proposals that clouded the region's outlook. Las Vegas Sands Corp., which operates one property on the Macao peninsula and five on the offshore Cotai Strip, saw its…

Land-based ・ 17 January 2022

CNBC

Macao arrests 11 people for illegal gambling and money laundering

Macao police said on Sunday they had arrested 11 people in an investigation into an illegal gambling and money-laundering syndicate, a day after businessman Alvin Chau, who organizes trips to Asian casinos for big spending gamblers, was questioned at a police station. The police said in a statement that people involved in the case acknowledged the…

Law ・ 05 December 2021

The Motley Fool

Las Vegas Is a Better Bet as Macao Gambling Revenue Tumbles

The recovery in casino gambling in Macao always seems to be just around the corner, but it never quite arrives. Yet another plunge in monthly gambling revenue in October shows the rebound remains over the horizon and makes Las Vegas casinos the better bet. For those resort operators like Las Vegas Sands (NYSE:LVS) and Wynn Resorts (NASDAQ:WYNN)…

Finance ・ 13 November 2021

The Motley Fool

Macao Nightmare: What We Know About the Future of Gambling There

It's been a rough week, to say the least, for gambling stocks with exposure to Macao's once-thriving market, with most of the industry down double digits over the last five trading days. Melco Resorts (NASDAQ:MLCO), Las Vegas Sands (NYSE:LVS), and Wynn Resorts (NASDAQ:WYNN) have been the hardest hit because they generated a majority of their…

Travel ・ 20 September 2021

Nikkei Asia

Yokohama mayor-elect deals Japan's casino dream a fresh blow -Nikkei Asia

ERI SUGIURA, Nikkei staff writer TOKYO -- The result of the Yokohama mayoral election on Sunday has cast another shadow over Japan's ambitions to build massive casino resorts, a drive that was already under strain due to the withdrawal of interest by key foreign players amid the COVID-19 pandemic. Takeharu Yamanaka, a former professor at Yokohama…

Covid ・ 24 August 2021