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Forbes

Casino Stocks Rally As Macau Gambling Revenues Come In Strong

You'll be asked to sign into your Forbes account.Got it While investors greeted the first day of 2023 trading with big selling in classic tech favorites like Apple and Advanced Micro Devices, buyers showed up in large numbers among the classic casino names. This, after Macau reported "gross gaming revenues" increased 333% in 2023 versus 2022. Those…

Finance ・ 03 January 2024

Recent Slot Releases

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

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

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.

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

Asgam

Stanley Ho family in danger of losing Portuguese casino license

The family of Macau gaming pioneer Stanley Ho is at risk of losing its Portuguese casino concessions after a re-tender for gaming licenses saw a rival bidder submit a higher offer. According to a report by Bloomberg, the license to operate two of Portugal's biggest casinos - Casino de Lisboa in Lisbon and Casino do Estoril in Cascais - expires at…

Travel ・ 23 November 2022

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

Yogonet

Casino tycoon Stanley Ho's family could lose concession of Portugal's Casino de Lisboa and Casino do Estoril to rival bidder

According to recent reports, the family of the late gambling tycoon Stanley Ho risks losing the concession of two of Portugal's biggest casinos - Casino de Lisboa in Portugal's capital, and Casino do Estoril, located in the seaside town ofCascais near Lisbon - after a rival bidder for the license to operate both venues made a higher offer. Both…

Sports ・ 06 October 2022

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Macau Business

Estoril/Sol group to face competing bid in Portugal's casino concession public tender

The Estoril/Sol group, the Portuguese gaming concessionaire linked to former Macau gaming tycoon Stanley Ho that has held the country's main gaming concession for more than 60 years, will face a rival bid in the ongoing public tender that will award a new casino gaming exploration license in the European country. According to a report by Portuguese…

Covid ・ 04 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

Times Of Casino

The 10 Richest People in the Casino Industry

Casinos are getting bigger, with more slots and tables games, spectacular shows, Michelin quality dining, and five-star hotels. In a chaotic world, where life can sometimes seem a little dark, casinos are man-made paeans to excess, indulgence, and fun. Gambling politics aside, casinos are built for both pleasure and profit. When it is done well,…

Industry ・ 10 August 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

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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

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

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

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Review Journal

Macao gaming revenue slumps by 68 percent in May

On the day Chinese authorities lifted COVID-19 restrictions in Shanghai, Macao's Gaming Inspection and Coordination Bureau reported another steep decline in gross gaming revenue for the month of May. The bureau that monitors gaming revenue for Macao's 41 casinos - including several owned and operated by three Las Vegas-based companies - reported…

Finance ・ 02 June 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

Techie + Gamers

Top 10 Richest Casino Owners in the World

Casinos bring in a lot of money, more than most people may realize. In fact, they generate billions of dollars each year. Players come in with a big chance of losing, but the casino owners will always win. The house always has an edge, which means that over time, they will make more money than the players. Here are the leading individuals earning…

Top and Best ・ 19 April 2022

Review Journal

Macao gaming revenue dips to an 18-month low

Macao gaming revenue slumped to an 18-month low in March, Macao's Gaming Inspection and Coordination Bureau reported Friday. It was the second month this year that gross gaming revenue was below 2021 levels. The market showed a 6.1 percent rebound in February, thanks primarily to increased visitation during Chinese New Year celebrations. The bureau…

Finance ・ 02 April 2022

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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

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

Real Money

Macau's Casino Stocks, Near Record Lows, Face Specter of Tough License Reviews

Macau's casino stocks are at or near all-time lows after a savaging this week, but it isn't the time to be buying them just yet. You need to be an exceptionally brave speculator willing to play a little Chinese roulette. There's too much uncertainty to be able to derive any sensible value in these names. The spark for this latest selling is a…

Finance ・ 17 September 2021

Real Money

Crown Shares Soar on Blackstone Bid for Aussie Casino Operator

Crown Resorts (CWLDY) shares won big on the ASX today, with the stock soaring 21.4% in Sydney trade. That's after the troubled casino operator on Monday said it had received an A$8.0 billion (US$5.4 billion) buyout bid from the world's largest private-equity investor, the Blackstone Group (BX). The offer from Blackstone, which already owns 9.99% of…

Travel ・ 07 May 2021

Real Money

Australia's Largest Casino Company Loses Big With License Findings

Australia's largest gambling company, Crown Resorts, is facing a crisis of its own making after a damning report that finds it unfit to open its newest casino. Crown has already opened the doors to the nice-and-shiny, 75-floor Crown Sydney skyscraper, which is now Sydney's tallest building. The hotel and restaurants are open for customers. But the…

Travel ・ 07 May 2021