#MGM China

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Las Vegas and Macau Casinos Surging Ahead in Gaming Sector

In the ever-evolving tableau of leisure and hospitality, the bright lights of Las Vegas continue to draw patrons in droves, signaling a potential boon for casino operators gearing up to report their first-quarter financials. Amid the glamorous backdrop of the iconic Welcome to Las Vegas sign, consumer enthusiasm abounds-yet it contrasts with a…

Industry ・ 13 March 2024

GGRAsia

Macau casino bets mostly US$64 up on Day 6 of CNY hols

GGRAsia walked the mass-play floors of a number of the major casinos in downtown Macau and the Cotai district on Thursday, which for mainland China residents was the sixth day of an eight-day holiday break to mark Chinese New Year this time. At about 11.25am at Grand Lisboa (pictured), run by SJM Holdings Ltd on the city's peninsula, the sic bo…

Live Gambling ・ 15 February 2024

Fox 5 Vegas

MGM Resorts sets records following big events in Las Vegas

LAS VEGAS, Nev. (FOX5) - During a Feb. 13 earnings call, MGM Resorts International reported record results and a 22% increase in net fourth-quarter revenue. The company's earnings media release began by noting that Las Vegas Strip resorts "achieved record full year and fourth quarter net revenue." "Our Las Vegas Strip Resorts and MGM China set new…

Land-based ・ 14 February 2024

iGaming Business

MGM Resorts continues winning streak in Las Vegas

In a trading update for the period ending 31 December 2022, the gaming group said it generated consolidated net revenues of $3.6bn (€3.35bn/£2.98bn), an increase of 18% compared to the prior year quarter. This featured net revenues of $2.3bn from its Las Vegas Strip properties, which was up 27%. The increase was in part due to the addition of…

Land-based ・ 09 February 2023

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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

TipRanks

MLCO, MGM, or LVS: Which Casino Stock Could be the Best Bet in 2023?

Stocks of casino operators with exposure to Macau, an administrative region in China and a major gambling destination, have rallied recently on hopes of strong recovery following the easing of COVID-19 restrictions. Moreover, Macau granted new licenses to six casino operators in late 2022 for a period of ten years. Additionally, certain analysts…

Land-based ・ 11 January 2023

Yogonet

Macau casinos see worst year on record after gaming revenue drops 51% in 2022

Macau casinos have posted their worst year since 2004 as China's strict Covid Zero policies wrought havoc on the gambling hub. The Gaming Inspection and Coordination Bureau said Sunday that gross gaming revenue in December fell 56% from a year earlier to 3.48 billion patacas ($433 million), slightly below the median estimate of a 57% decline.…

Finance ・ 04 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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Macau Casinos Pledge to Invest $15 Billion

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…

Travel ・ 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

Markets Insider

Macau Casinos Have Secured Gaming Licence Renewals but at a Hefty Cost

Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. Casinos in Macau, also known as the Las Vegas of Asia, are starting their end of the year celebrations early this year - their casino licenses have just been renewed after a months-long agonizing wait, easing investor fears about the future of the…

Covid ・ 19 December 2022

World Casino News

Six Macau casino operators receive official gaming licenses from the Macau government

Today, six incumbent casino operators in Macau signed a productive 10-year gaming contracts with the Macau government and received gaming licenses to operate in the world's largest gambling city. Signing by rank: Six casino operators signed the contract according to their rank in the recent tender process: MGM Grand Paradise, Galaxy…

Industry ・ 17 December 2022

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Macau Casinos Seek $16.8m in Damages in Tak Chun Trial

Four casino operators in Macau are seeking damages totaling MOP$135m (US$16.8m) from the defendants in a major illegal VIP gambling case. Former chairman of Tak Chun Group Levo Chan is currently on trial, alongside nine other defendants. MGM China, SJM Resorts, The Venetian Macau, and the Wynn Macau are all seeking the multimillion-dollar payout in…

Incidents ・ 06 December 2022

iGaming Business

Macau misses casino concession jackpot

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…

Industry ・ 06 December 2022

Capital

Macau casino stocks: Can Sands and Wynn see further boost from Beijing license agreement?

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…

Finance ・ 05 December 2022

World Casino News

Wynn Macau leads gains in Macau casino stocks after license approval

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…

Finance ・ 30 November 2022

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Macau: Suspicious Transaction Reports from casino operators down by 15% year-to-date

According to local media reports, the number of Suspicious Transaction Reports (STRs) in Macau has seen a 13.4% year-over-year decrease to 1677 in the first nine months of 2022. According to a report from the Financial Intelligence Office, STRs proceeding from casino operators fell by 15.5% year-over-year to 866 during the period from January to…

Industry ・ 30 November 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

Seeking Alpha

Searching for green shoots with Macau casino stocks (OTCMKTS:WYNMF)

The painfully slow recovery in Macau may have taken another step forward after Macau daily revenue for the week ending November 13 was reported to be 37% higher than the first six days of November. The relative jump in Macau gross gaming revenue was likely tied to mass testing for COVID ended in Macau on November 5, according to Jefferies analyst…

Finance ・ 14 November 2022

Nikkei Asia

MGM China reaches for $750m loan as Macao's casinos bleed cash -Nikkei Asia

HONG KONG -- Macao's MGM China said Friday it has reached out for a $750 million loan from its U.S.-based parent as its COVID-hit gaming business bleeds cash, after several rival casino operators scrambled for lifelines. The operator of the MGM Cotai casino resort -- which was sealed off for several days this month with 1500 people inside after a…

Covid ・ 11 November 2022

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Vegas boosts MGM Q3 revenue, but Macau leads to $1bn loss

Net revenue was up 26.2% to $3.14bn. The majority of this, at $2.30bn, came from Las Vegas, up 66.6% to a record high. Unlike in 2021, rooms - rather than casino - were the largest source of revenue in Las Vegas. "We're proud to report the best quarter in our Las Vegas Strip history, both on a revenue and adjusted property EBITDAR basis, driven by…

Finance ・ 03 November 2022

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

World Casino News

Minimum mandated marks established in Macau

As part of new casino concessionaire licensing legislation and the government of Macau has reportedly set minimum gross slot and gaming table revenue requirements in hopes of being able to better guarantee its annual tax receipts. According to a Friday report from Inside Asian Gaming, the move detailed by the Chief Executive for the former…

Travel ・ 31 October 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 ・ 21 October 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

Seeking Alpha

Macau Casinos: Time To Place Your Bets

It used to be the world's biggest. It was so massive, and the second place was much so smaller in comparison that we can't even call them peer competitors. The gambling revenue of Macau was six times that of Las Vegas as of 2019. Then, COVID-19 happened, and Macau's gambling revenue fell nearly 80% over the next 2 years. Today, Macau's pandemic…

Travel ・ 03 October 2022

Casino.org

Top 5 Richest Casino Owners In Asia

In terms of gambling and casinos, the law changes greatly across the Asian continent. Some countries have strict anti-gambling laws while others proudly advertise their incredible casino complexes. The huge numberof people that live in and visit Asia has seen the demand for casinos in thecontinent to become massive. This has meant that the few…

Top and Best ・ 03 October 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

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 ・ 26 September 2022

Vegas Slots Online

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 ・ 26 September 2022

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

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 ・ 18 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

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

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 ・ 14 September 2022

World Casino News

Macau licensing move for Wynn Macau Limited

Asian casino operator Wynn Macau Limited has reportedly applied for a new ten-year license that would give it official permission to continue offering gambling entertainment at its pair of Macau properties until the end of 2033. According to a report from Inside Asian Gaming, the firm majority-owned by American casino operator Wynn Resorts…

Law ・ 14 September 2022

Vegas Slots Online

Wynn Announces New Macau Casino License Application

Wynn Macau is the first casino operator to announce that it has submitted an application for a new operating license in the Special Administrative Region. It revealed on Tuesday that it has given its tender to the government in Macau. deadline for submitting a tender for a new license ends Wednesday Each of the six existing casino license holders…

Covid ・ 13 September 2022

Reuters

Macau sets first formal cap on casino tables, income amid bidding war

HONG KONG, Aug 26 (Reuters) - Macau has fixed a limit of 6000 gaming tables and 12000 gaming machines for new casino operators early next year, as well as minimum income levels for each operator, the government in the world's biggest gambling hub said on Friday. It is the first time authorities have set a formal cap on the numbers of tables and a…

Covid ・ 26 August 2022

Yogonet

Macau Gov. to limit numbers of gaming tables and machines for new licensees; set minimum income levels

Macau's government announced Friday it has fixed a limit of 6000 gaming tables and 12000 gaming machines for new casino operators, set to enter into force early next year, along with minimum income levelsfor each one of them. This marks the first time authorities have set a formal cap on the number of tables and minimum income requirement,…

Land-based ・ 26 August 2022

Yogonet

Macau's casino losses exceed $2B mark in H1 as they await bidding process; recovery not expected until 2023

The struggle for Macau's casinos seems far from over. Macau's 41 casino operators reported half-year losses of $2 billion, and total gaming revenue came in at $3.3 billion. The latest numbers come as the city struggles to recover from its largest Covid outbreak, which saw the lock-down of casinos for two weeks, and as virus restrictions from the…

Covid ・ 24 August 2022

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

The Standard

License jitters set for casino amid Covid hit

Macau said yesterday that global gaming operators can submit bids for new licenses from July 29 until September 14 but that it cannot guarantee the number of licenses would stay the same at six. The licenses of the six current operators Sands China (1928), Wynn Macau (1128), MGM China (2282), Galaxy Entertainment (0027), SJM (0880), and Melco…

Covid ・ 29 July 2022

Today

Top gaming hub Macau invites casino license bids from July 29

HONG KONG:Macau's government said on Thursday global gaming operators can submit bids for new licenses from July 29 until Sept. 14, kicking off a highly anticipated process to secure a spot in the world's biggest casino hub. The licenses of the six current operators Sands China, Wynn Macau, MGM China, Galaxy Entertainment, SJM Holdings and Melco…

Covid ・ 28 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

Forbes

Hong Kong Casino Stocks Slide As Macau Clamps Down On Covid Spread With Fresh Lockdown

Major Hong Kong-listed gambling stocks slumped heavily on Monday after the city of Macau shut down all of its casinos and ordered its residents to stay at home for a week, as local officials attempt to halt an ongoing Covid outbreak and closely align the city's pandemic measures with mainland China's zero-Covid policy. In afternoon trading on…

Covid ・ 11 July 2022

World Casino News

Coronavirus consternation for Macau casinos

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…

Covid ・ 06 July 2022

Gambling News

Macau Casino Stocks Fall as COVID Cases Boom

The biggest COVID outbreak to date in Macau, which means new restrictions, social distancing, and a huge amount of testing, resulted in falling casino stocks on June 20. The cases are not that many, amounting to a total of 36, and the casinos are still open but the closure of public services, parks, schools, and many businesses has prompted…

Covid ・ 21 June 2022

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Macau rocked by local COVID cases which threaten casino traffic

Macau casino stocks fell in Hong Kong after the gambling region saw its first COVID-19 outbreak in eight months. The city reported 21 preliminary-positive cases in the local community as of Sunday evening. Schools and non-essential businesses were shut down until at least Tuesday to allow time for mass testing of all residents. Arrivals to Macau…

Covid ・ 20 June 2022

Reuters

Macau shuts most businesses amid COVID outbreak, casinos stay open

HONG KONG, June 20 (Reuters) - The world's biggest gambling hub Macau began its second day of mass COVID-19 testing on Monday after dozens of locally transmitted cases were discovered over the weekend, with most businesses shut but casinos remaining open. The testing of Macau's roughly 600000 residents is expected to end on Tuesday as the…

Covid ・ 20 June 2022

Seeking Alpha

New Macau gaming bill advances to final vote

Bank of America said the final version of the gaming law passed by the Macau Legislative Assembly reflected the amendments that have been revealed in the past couple months and were in-line with expectations. The amendment bill allows for six new concessions, with a maximum term of 10 years and three-year extension possible under certain…

Travel ・ 17 June 2022

Reuters

Macau to sign off on 6-month casino operator licence extensions -media

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…

Travel ・ 15 June 2022

iNtergame

Run-in to new Macau gambling laws

The current operators in Macau will see their licences expire this year and the new regulations will lay down the formula for the future of gambling in the territory. The number of new licences will be capped at six - the current holders are Wynn Macau, Sands China, MGM China, SJM Holdings, Galaxy Entertainment and Melco Resorts. The proposals…

Law ・ 14 June 2022

World Casino News

Macau ‘satellite’ casinos facing an uncertain future

In Macau and Economy and Finance Secretary Lei Wai Nong (pictured) has reportedly announced that some local'satellite' casino enterprises have officially applied for permission to'adjust their operations' in anticipation of coming regulatory changes. According to a report from Inside Asian Gaming, the legislator declared that a'small number' of…

Travel ・ 08 June 2022

World Casino News

Annual aggregated gross gaming revenues rethink in Macau

In Macau and the government of Chief Executive Ho Iat Seng (pictured) has reportedly announced that it will be officially lowering the enclave's predicted aggregated gross gaming revenue tally for the entirety of 2022. According to a report from Inside Asian Gaming, the former Portuguese territory had earlier forecast that its aggregated gross…

Finance ・ 06 June 2022

World Casino News

Arrears warning for Macau gambling market

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…

Industry ・ 24 May 2022

Asia Times

Policy changes make Macau’s casinos a risky bet

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…

Covid ・ 18 May 2022

World Casino News

Macau’s draft gaming bill is taking shape

In Macau and legislators are reportedly preparing to chuck out a provision within the under-consideration draft gaming bill that would prevent anyone with more than a 5% shareholding in a local casino operator from investing with any rival firm. According to a report from GGRAsia, this possible concession was revealed by local legislator Chan Chak…

Travel ・ 17 May 2022

Seeking Alpha

Las Vegas Sands, Casino stocks surge as Shanghai looks set to end lockdowns (NASDAQ:WYNN)

Casino stocks led the S&P higher on Friday as news of a potential end to lockdowns in China sent gaming stocks skyward. Per the Associated Press, officials in Shanghai are considering a reopening "in a few days" as case numbers fall. The nation's most populous city is seen as a key bellwether for the country's Zero-COVID policy, therefore holding…

Covid ・ 13 May 2022

Seeking Alpha

MGM Resorts is higher after Las Vegas casinos shine in Q1

MGM Resorts International (NYSE: MGM) traded higher in after-hours trading on Monday after reporting a 73% jump in revenue against a soft pandemic comparable and seeing the addition of Aria and Vdara help propel the Vegas segment to a big quarter. Revenue from Las Vegas Strip properties was up 205% to $1.7B vs. $1.5B consensus. Adjusted property…

Travel ・ 02 May 2022

Asgam

MGM China falls to US$26 million EBITDAR loss in 1Q22 on falling Macau revenues

MGM China has reported revenue of US$268 million in the three months to 31 March 2022, down 9% year-on-year and 63% lower than the same period in 2019. It was also 15% lower than 4Q21, with its Macau properties - MGM Cotai and MGM Macau - still heavily impacted by travel and entry restrictions into the SAR. Adjusted Property EBITDAR was a loss of…

Finance ・ 02 May 2022

World Casino News

Macau casinos experienced an April slump

The over 40 casinos in Macau reportedly saw their aggregated gross gaming revenues for April decline by over 68% year-on-year to hit a 19-month low of just over $331.19 million. According to a report from GGRAsia citing official information from the enclave's Gaming Inspection and Coordination Bureau regulator, the disappointing result equated to a…

Travel ・ 02 May 2022

Seeking Alpha

Macau casino revenue plunges to 18-month low

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…

Finance ・ 02 May 2022

GGRAsia

Macau GGR targets hurt ops with low-yield assets: broker

The Macau government's proposed minimum annual target of casino gross gaming revenue (GGR) per table and per gaming machine could result in operators with low-yielding gaming assets bearing in practice a levy on doing business that is higher even than the 39 percent effective tax rate on GGR, says a report from China International Capital Corp Hong…

Industry ・ 19 April 2022

Seeking Alpha

Macau casino stocks could be impacted by new COVID deaths in Shanghai

Macau casino stocks are on watch again this week with investors looking to see how far the zero-tolerance policy in China can extend. The government in Shanghai has reportedly set a new target of zero cases at the community level by April 20, which means no new cases outside of quarantined zones. That may be a tough standard after 23643 new local…

Covid ・ 18 April 2022

Seeking Alpha

Macau casino revenue slumps to 18-month low

Macau gross gaming revenue fell 56% in March to 3.67B patacas ($455M) to slightly trail the consensus estimate for a 55% decrease. Ongoing COVID restrictions and concerns held back traffic during the month. Gross gaming revenue was down 54% in March from the level seen in February with the lockdowns in Zhuhai and Shenzhen a major factor. The…

Finance ・ 01 April 2022

Gambling News

Macau Casino Concessionaires Pay $5.83M to Extend Licenses

Macau is agog as the special administrative region is working hard to re-regulate its gambling industry and create new mint conditions for concessionaires to operate in. This begins with the extension of existing licenses, set to expire on June 26, through the end of the year. However, Macau is offering each concessionaire the opportunity to expand…

Travel ・ 29 March 2022

World Casino News

Commitment concerns for Macau casino operators

The combined net debt of the six licensed casino operators in Macau has reportedly quadrupled since the start of the coronavirus pandemic in late-2019 to currently stand at more than $20 billion. According to a report from Inside Asian Gaming, this potentially worrying news was unveiled by global brokerage and investments firm Morgan Stanley…

Travel ・ 17 March 2022

World Casino News

Static situation for Macau casino firms

The six licensed land-based casino operators in Macau are to reportedly not be asked to pay any more tax under the provisions of the draft gaming bill currently being considered by legislators. According to a report from Asia Gaming Brief, this revelation came from local legislator Andrew Chan Chak Mo during a Tuesday briefing that was also…

Travel ・ 17 March 2022

World Casino News

Macau casino firms experience second share slump

For the second consecutive weekend and the aggregated value of shares in the six-strong club of licensed Macau casino operators has reportedly dropped significantly owing to a number of factors including the ongoing presence of coronavirus. According to a report from Inside Asian Gaming, the combined market cap of the Hong Kong-listed sextuplet…

Covid ・ 15 March 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

Vegas Slots Online

Macau Extends Casino Operator Licenses Until December

The six casino companies currently operating in Macau have gotten six-month extensions to their licenses. Macau's Economy and Finance Secretary Lei Wai Nong announced the decision on Thursday. Each of the six licenses was due to expire on June 26. The new expiration date is December 31, allowing additional time to conduct a rebidding process. A…

Covid ・ 03 March 2022

Reuters

Macau government extends casino licences to December

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…

Travel ・ 03 March 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

Seeking Alpha

Macau casino revenue slumps in January ahead of Winter Olympics

Macau gross gaming revenue fell 20.9% in January to 6.34B patacas ($785M). Although the GGR tally topped the consensus expectation for a fall of 31%, the rate of growth was far worse than the+1.8% mark recorded in December. The crackdown on Macau junket operators and tighter border restrictions ahead of the Winter Olympics also impacted Macau…

Finance ・ 01 February 2022

World Casino News

Macau licenses only 46 casino junkets for 2022

In Macau and the Gaming Inspection and Coordination Bureau regulator has reportedly licensed just 46 casino junket firms for 2022 at the same time as officials in neighboring China are continuing their crackdown against cross-border gambling. According to a report from inside Asian Gaming, this is the first instance since the watchdog began issuing…

Travel ・ 28 January 2022

World Casino News

Potential annual gaming revenue targets for Macau casinos

As part of its upcoming licensing of six new casino concessionaires and the government of Macau could reportedly soon oblige operators to commit to hitting minimum annual gross gaming revenue targets. According to a report from GGRAsia, draft legislation currently being considered in the former Portuguese enclave may feature a clause that would tie…

Finance ・ 18 January 2022

Real Money

Macau Casinos Finally Catch Break With New Rules

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…

Covid ・ 17 January 2022

Pulse 2.0

Las Vegas Sands Stock (LVS): Why The Price Went Up Today

The stock price of Las Vegas Sands Corp. (NYSE: LVS) increased by over 12% during intraday trading today. Investors are responding positively to a report that the Macau government announced the number of new casino operators allowed to function is going to be limited to 6 concessionaires. But their operating period is going to be halved to 10…

Travel ・ 14 January 2022

Gambling News

US Casinos in Macau Will Not Be Treated Differently, Fitch Ratings Claim

Fitch Ratings Inc insists that US-controlled casinos in Macau will not be treated any differently from casinos owned by Chinese entities in light of the recent gaming rights refreshments in the city. The company solidified its claim by adding that US casino subsidiaries are owned by public entities listed in Hong Kong, have invested a lot of money,…

Covid ・ 12 January 2022

Gambling News

Wynn Macau, Casino Companies Pay Bonuses to Employees

Wynn Macau has decided to give all of its (or nearly all) employees a holiday bonus that will be paid out this month. The bonus reflects not so much on the holiday season but rather on the dedication with which members of the team have worked through the nadir of the pandemic and coped with a challenging health environment throughout 2021. Wynn…

Jobs ・ 03 January 2022

Gambling News

Wynn Macau and Melco Resorts Severed Ties with Junkets

Two of the six casino licensees in Macau, Wynn Macau and Melco Resorts, confirmed to have completely cut their ties with junket operators, an article in GGRAsia revealed. The junket sector has been seriously hit after the arrest of Suncity chief executive officer Alvin Chao last month when analysts predicted the detention and the shutdown of…

Travel ・ 29 December 2021

Yogonet

Macau casinos seek to replace junket revenues amid crackdown, industry uncertainty

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…

Finance ・ 24 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

World Casino News

Fitch Ratings Incorporated warning for trio of Macau casino giants

Prominent credit ratings agency Fitch Ratings Incorporated has reportedly assigned a trio of firms behind some of the largest casinos in Macau with a'ratings watch negative' appraisals largely due to ongoing'regulatory uncertainty'. According to a report from GGRAsia, the move from the New York-headquartered firm involving SJM Holdings Limited, Las…

Travel ・ 13 December 2021

Golden Casino News

MGM Resorts continues to expand, targets new facility in Las Vegas

MGM Resorts International Considering a New Facility on the Las Vegas Strip. MGM Resorts is growing increasingly enthusiastic about the southern end of the Las Vegas Strip's future. This week, one of its top officials indicated that additional improvements in the area might be imminent. MGM Resorts, which operates most of the Strip's casinos,…

Travel ・ 06 December 2021

Gambling News

Macau Confirms Closure of Suncity VIP Rooms in the City

Macau's gaming regulator has confirmed Wednesday night that all VIP gaming rooms operated by Suncity Group, a junket operator in Macau, have been closed. Alvin Chau, the now-former head of the junket operator, was arrested on Saturday for allegedly organizing illegal gambling, including online gambling, via the Philippines, China, and other…

Jobs ・ 03 December 2021

New Jersey Online Gambling

Junket Operator's Arrest Drives Macau Casino Stocks Down

Macau casino stocks tanked this week after the arrest of 11 junket operators. Alvin Chau, Suncity Group Holdings' CEO, was among those detained. The region's casino stocks were already struggling due to new virus concerns, but the specter of more regulatory crackdowns pushed them lower still. During the'08-'09 financial crisis, Macau casino stocks…

Finance ・ 01 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

Forbes

Why Macau’s Casinos Are Still The Best Bet For Wynn And Las Vegas Sands

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…

Covid ・ 01 December 2021

Reuters

Billions blown as Macau casino investors fold amid gambling review

HONG KONG, Sept 15 (Reuters) - Shares of Macau casino operators on Wednesday shed as much as a third of their value, losing about $18 billion, as the government kicked off a regulatory overhaul that could see its officials supervising companies in the world's largest gambling hub. With Macau's lucrative casino licences up for rebidding next year,…

Finance ・ 16 October 2021

World Casino News

Two-jab mandate for Macau casino employees

The firms behind the 41 casinos in Macau have reportedly upped their campaigns against coronavirus by comprehensively implementing new rules that require employees to be fully vaccinated or present weekly negative viral diagnostic tests. According to a report from Inside Asian Gaming, the new regime has been implemented by operators Sands China…

Jobs ・ 15 October 2021

GGRAsia

Two Macau casino operators flag green initiatives

Two Macau casino operators have respectively announced what they say are environmentally-beneficial initiatives for their day-to-day activities. Melco Resorts and Entertainment Ltd said on Thursday it had combined technology and behavioural science - including so-called "nudge" communications - to cut by "up to 35 percent" the amount of wasted food…

Travel ・ 25 September 2021

The Shillong Times

$16 Billion Knocked Off Stocks as Macau Government Review Gambling Laws

A potential change on the horizon for casino gaming in Macau has led to $16.4 billion being knocked off the market value of gambling operators on the stock market. This comes on the back of a warning from analysts that regulations in place in this type of venue may squeeze something that is already tight, due to the Covid-19 pandemic. There has…

Law ・ 25 September 2021

World Casino News

Clarification on new gambling laws sought in Macau

In Macau and representatives from some of the city's junket firms reportedly joined casino executives at a meeting on Monday in hopes of getting more details on proposed regulatory changes. According to a Tuesday report from the Reuters news service, the 70-minute gathering called by the local Gaming Inspection and Coordination Bureau regulator was…

Law ・ 23 September 2021

Reuters

Macau casino and junket operators seek clarity over new gambling laws

HONG KONG (Reuters) - Senior Macau casino and junket executives met with authorities in the world's biggest gambling hub on Monday seeking details on proposed regulatory changes but received little in the way of clarity. The 70-minute meeting, shown online, highlighted the uncertainty hanging over the industry since the government kicked off a…

Law ・ 21 September 2021

Stock News

LVS: 3 Casino Stocks to Avoid as Macau Announces Increased Government Supervision

The casino industry has experienced a decent recovery this year with the reopening of brick-and-mortar casinos and the growing popularity of online gambling. However, shares of Macau casino operators declined by approximately one-third of their values, losing about $18 billion, on September 15, as Macau declared stronger supervision of casino…

Finance ・ 20 September 2021

Forbes

Asia’s Casino Fortunes Falter As Macau Threatens Crackdown On Gaming

Several of the region's wealthiest casino moguls saw their fortunes tumble this week after officials in Macau launched a regulatory review that threatens to tighten the government's grip on "Asia's Las Vegas." The Macau government said on Tuesday that it's seeking to re-evaluate the laws that govern the world's largest gambling hub. The 45-day…

Incidents ・ 17 September 2021