Macau casinos hit the jackpot as return of mainland Chinese tourists fuels fourfold surge in revenue

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Eye On Annapolis

How Much Money Do Casinos Make a Day?

Casinos are known for their promise of instant wealth, but have you ever wondered just how much money these establishments rake in on a daily basis? The answer might surprise you. Large and small casinos are highly profitable, and their daily earnings can reach staggering figures. The amount of money a casino makes in a day can vary widely based on…

Industry ・ 06 February 2024

Yogonet

Macau forecasts robust casino business growth, projects $27 billion revenue in 2024

Macau's Secretary for Economy and Finance, Lei Wai Nong, has conveyed an optimistic outlook for the gaming sector, expressing confidence in achieving the target of MOP216 billion ($26.8 billion) in gaming revenue for fiscal year 20242024. Addressing lawmakers' concerns post his presentation of the 2024 action plan, Lei noted that the government's…

Industry ・ 23 November 2023

Gambling News

Macau Casino Revenue in January up 82.5%, Recovery on the Cards

Shares of Macau casino operators posted gains of between 3% and 5% after official data released by the Special Administrative Region (SAR) of China's government revealed that gambling revenue in January nearly doubled. Macau casinos generated MOP11.58 billion ($1.44 billion) in gross revenue in the first month of 2023 to post an increase of 82.5%…

Finance ・ 01 February 2023

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 ・ 11 October 2022

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The Motley Fool

Why Las Vegas Sands Stock Jumped Higher Earlier Today

Las Vegas Sands (LVS 3.94%) were up 12.4% as of 1:05 p.m. ET on Monday. The jump followed positive news over the weekend about the return of tourism in China's Macau Special Administrative Region, where Las Vegas Sands has invested over $15 billion for future growth. Other casino stocks were also rising on the news, with Wynn Resorts up 12.8% at…

Travel ・ 22 October 2022

Yogonet

Macau casino gaming revenue hits all-time low in July collecting only $49M amid Covid restrictions

According to the Gaming Inspection and Coordination Bureau, Macau's gaming revenue has hit an all-time low; their worst month ever since records began in 2009. Data shows gross gaming revenue fell 95% to 398 million patacas ($49 million) in July, 98% lower than pre-pandemic levels. Macau's casinos reopened on July 23, after a nearly two-week…

Covid ・ 24 September 2022

Travel Daily News

Top five travel destinations with the best casinos

The possibilities of online casino gambling are endless - and especially with the development of the live casino feature and online casino, like casinorewier.com that offer 10 dollar deposit casino, it comes close to the real experience that you can find in land-based casinos. These places involve many slot machines and felt tables with poker,…

Travel ・ 27 July 2022

Yogonet

Macau casinos reopen at 50% staff levels after two-week shutdown, but recovery prospects remain bleak

Macau casinos reopened Saturday after a nearly two-week shutdown mandated in an effort to stop the spread of Covid-19. However, without tourists, business was slow for the gaming venues, and analysts have estimated the closures could cost the casinos $1 billion. In response, the government said it intends to distribute $1.24 billion to those…

Covid ・ 25 July 2022

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World Casino News

China visa crackdown to impact Macau gambling market

Global investment bank Credit Suisse Group AG has reportedly warned that Macau could see its aggregated gross gaming revenues crash by as much as 20% this year owing to China's burgeoning crackdown on granting visas to frequent gamblers. According to a Tuesday report from Asia Gaming Brief, the mainland's National Immigration Administration…

Payment Methods ・ 18 May 2022

Seeking Alpha

Macau casino revenue for February falls short of estimates

Macau gross gaming revenue gained 6.1% in February to 7.76B patacas ($0.96B) to trail the consensus estimate for a 7.0% increase. Ongoing COVID restrictions and a sharp crackdown on two junket operators impacted traffic negatively. Macau GGR is down 8% on a year-over-year basis. Jefferies is not confident that a positive turn for Macau is…

Finance ・ 01 March 2022

World Casino News

Macau casinos pay MOP$33.91 billion in taxes for 2021

The Financial Services Bureau in Macau has announced the tax payments from the gaming industry for 2021. Last year, a total of MOP$33.91 billion ($4.22 billion) was paid by operators. This is an increase of 13.8% when compared to the MOP$29.81 billion ($3.73 billion) paid in 2020. While the amount is an increase from the previous year, it is a…

Finance ・ 22 February 2022

Seeking Alpha

Hot Stocks: Online gambling stocks fall; ROKU, RDFN plunge on earnings; APPN rises

Stocks suffered another day of losses on Friday, adding a modest retreat to the previous day's substantial decline. Geopolitical tension and general worries about the direction of the market in the face of looming rate hikes kept investors on the sideline. The selling affected online gambling stocks, which were dragged down by a disappointing…

Finance ・ 18 February 2022

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Yogonet

Macau casino revenue hits 2021 low, direct investment slumps in 2020

Casinos in the Chinese enclave have seen their worst month of the year in October, amid pandemic-related restrictions and a gambling rules review. Revenue dropped 40% YoY, and also fell 26% from the previous month, down 83% against pre-pandemic 2019. Direct investment in Macau's gaming sector declined by 30% in 2020 versus 2019. Casinos in Macau…

Finance ・ 15 January 2022

Vegas Slots Online

Macau Monthly Casino Revenue Fell to Year Low in October

Macau's monthly gross gaming revenue hit a record low for 2021 in October as the region continued to deal with the impact of COVID-19 restrictions. Gross gaming revenue fell almost 29% month-on-month to around MOP4.37bn ($544.7m). a 40% year-on-year drop in October revenue Figures released by the Macau Gaming Inspection and Coordination Bureau on…

Finance ・ 01 November 2021

GGRAsia

Macau casino GGR down 37pct m-o-m in June: govt

Macau casino gross gaming revenue (GGR) declined by 37.4 percent sequentially in June, to MOP6.54 billion (US$817.7 million) compared to MOP10.45 billion in May. Judged year-on-year, June GGR was up 812.5 percent, according to data issued on Thursday by the city's casino regulator, the Gaming Inspection and Coordination Bureau, a body also known as…

Covid ・ 12 September 2021

The Real Deal

Macau Casinos Suffer August Slump

Macau's casinos had an abysmal August, continuing an 18-month run of hard luck in the coastal Chinese city as the pandemic continues to impact tourism. Gross gambling revenue last month fell to $554 million, the lowest monthly total so far this year and a mere fraction of the $3 billion per month averaged recorded in 2019, according to the Wall…

Travel ・ 08 September 2021

Mint

Covid-19 has China’s gambling hub on a long losing streak

Business remains muted in the once-bustling casinos of Macau more than a year and a half into the Covid-19 pandemic, while gambling operators wait for tourists to return en masse to the Chinese city. In August, gross gambling revenue in Macau slumped to the equivalent of $554 million, its lowest monthly total this year and a far cry from the $3…

Covid ・ 01 September 2021

Investing Daily

Viva, Las Vegas: Investors Gamble on Reopening

Finance ・ 10 August 2021

Vegas Slots Online

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 ・ 31 July 2021

GGRAsia

Kingston’s Macau annual gaming revenue turns negative

Gaming revenue at Kingston Financial Group Ltd, the operator of two so-called satellite casinos in Macau, turned negative in the 12-month period ended March, the company announced on Wednesday. Kingston Financial told the Hong Kong Stock Exchange that it recorded negative gaming revenue of almost HKD7.9 million (US$1.0 million) in its latest…

Finance ・ 01 July 2021

The Wall Street Journal

Macau Casino Stocks Still Face Long Odds

After a brutal downturn during the early months of, Macau's casinos will likely see more visitors soon. That doesn't necessarily make casino stocks a winning bet-at least not for a while. After, the gambling hub is finally seeing a glimmer of hope. Starting Wednesday, Chinese authorities will resume issuing tourist visas for visitors to Macau from…

Finance ・ 13 May 2021

TipRanks

Las Vegas Sands Stock (NYSE:LVS) Should Continue Skyrocketing on China’s Reopening

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…

Finance ・ 02 February 2023

Seeking Alpha

Wynn Resorts, Las Vegas Sands lead rally in Macau casino stocks on reopening hopes

Macau gross gaming revenue fell 10.7% in October to $3.9B patacas ($482M) compared to a year ago, according to data from the Gaming Inspection and Coordination Bureau. The GGR tally was worse than the -8.5% consensus mark anticipated by analysts. October casino GGR was up 31.6% on a month-on-month comparison with some tourism channels to Macau from…

Travel ・ 01 November 2022