Run-in to new Macau gambling laws

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Macau GGR revives, casino stocks on the rise

The first eight days of January saw the average daily Macau casino gross gaming revenue (GGR) more than quadruple the daily average attained in the fourth quarter. JP Morgan Securities (Asia Pacific) Ltd projected Macau daily GGR at MOP2.1 billion (US$261.1 million) for the first eight days of the new calendar year, "implying around MOP260 million…

Finance ・ 10 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

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

Gambling News

Macau Casino Stocks Surge After Macau Announces It Will Relax COVID Measures

Macau casino shares experienced a positive boost after the chief executive of Macau, Ho Lat-Seng, announced that Macau is going to accept tourist groups from mainland China again starting in November. Bloomberg reported that its Intelligence gauge tracking Macau's six casino operators that have casino concessions in the former Portuguese colony has…

Covid ・ 26 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

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

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

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

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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

TipRanks

Las Vegas Sands Betting On Lifted Restrictions

Las Vegas Sands (LVS) shares have been dragged down from China and Singapore imposing lockdowns and restrictions on mobility to limit the resurgence of COVID-19, and therefore are down about 8% thus far this year. I am bullish on this stock. But as the current wave of COVID-19 is waning, yet again, investor visibility into the future for the…

Covid ・ 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

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

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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

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

ABC Australian Broadcasting Corporation

Macau used to be China's 'good kid', but as Beijing turns on its gambling industry, everything might change

Unlike Hong Kong, Macau has long been nicknamed "the good kid" by Beijing. It was a playground for high rollers from the mainland, who turned this semi-autonomous port city into the world's richest gambling hub. Macau lived under the same "one country, two systems" political model as Hong Kong, just 62 kilometres away, allowing it to also operate a…

Industry ・ 21 January 2022

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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

The Street

Las Vegas Sands, Wynn Resorts Surge As Macau Clarifies Casino Rules

Macau, the world's largest gaming hub, will cap the number of casino operator licenses at six, while boosting local ownership requirements, when it auctions new permissions later this year. Las Vegas Sands (LVS) - Get Las Vegas Sands Corp. Report and Wynn Resorts (WYNN) - Get Wynn Resorts, Limited Report shares surged higher Friday after officials…

Travel ・ 14 January 2022

GGRAsia

Junkets to find players beyond China: Clark casino boss

VIP gaming promoters, and in particular the ones based in Macau, will "find a way" to serve high-value customers from outside mainland China, says the boss of the newly-revamped Hann Casino Resort in Clark, in the Philippines. "I think junket operators in Macau will find a way to spread out in different jurisdictions" serving players other than…

Covid ・ 10 January 2022

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

The Street

Las Vegas Sands, Wynn Stock Slump As Macau Takes Aim At Casinos

Las Vegas Sands (LVS) - Get Las Vegas Sands Corp. (LVS) Report lead U.S. casino shares lower Wednesday after officials in Macau planned major changes to rules governing operations in Macau, the world's largest gaming hub. In what appears to be the latest crackdown on powerhouse sectors in the world's second largest economy officials in Macau, a…

Travel ・ 04 October 2021

GGRAsia

Macau may end casino sub-concessions, directly monitor ops

The Macau government seeks, under proposed changes to the city's gaming law framework, to end the system of "sub-concessions" that enabled three extra Macau licensees to be created from what had been envisaged as a three-concession system at the advent of market liberalisation at the start of the century. There are also plans for…

Travel ・ 14 September 2021

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