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Sands Among Casinos Receiving Tentative Renewals in Macau
Three major casino companies are among those to have their licenses renewed in Macau, but the government expects them to push more of their chips into diversifying the local economy.
The
coastal Chinese region renewed the licenses
of Las Vegas Sands, Wynn Resorts, MGM Resorts and three Chinese companies, the Associated Press reported. The renewed…
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Barron's
China To Ease Mainland Residents' Travel To Gambling Hub Macau
Mainland Chinese residents will be allowed to visit Macau using an online visa system as of Tuesday, officials said, streamlining travel to the world's largest gambling hub after more than two years of pandemic restrictions.
Macau is the only place in China where casinos are legal and the former Portuguese colony once dwarfed even Las Vegas for the…
CoinGeek
Macau advances digital currency acceptance, but will casinos accept?
Macau is pressing ahead with plans to recognize digital currency as legal tender, offering the possibility that China's digital yuan might one day be accepted in the world's largest gambling hub.
Last week, Macau's Executive Council (ExCo) reviewed the latest draft of its Legal Regime for the Creation and Issuance of Money, which addresses what is…
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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…
Barron's
Macau Casino Stocks Surge On Mainland Travel Hopes
Casino stocks soared in Macau on Monday after authorities announced plans to gradually welcome back tour groups from the Chinese mainland, the demographic that makes up the vast majority of punters.
Macau is the only place in China where casinos are legal and the former Portuguese colony used to dwarf Las Vegas for the scale of bets placed each…
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…
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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…
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Fox 5 Vegas
VOA
Why Asian Gaming Hub Macao Is Getting Tougher on its Big Casinos
For many serious patrons of casinos, Chinese-ruled Macao has been the mecca of gaming, with high-end shopping and even higher-stakes tables. One of the world's biggest gambling centers before the COVID-19 closures, Macao is now experiencing tougher scrutiny on its casino scene as part of what analysts describe as an effort to control crime and…
High Stakes
80,000 Arrests as Chinese Gambling Crackdown Continues
More than 80000 arrests for cross-border gambling were made by the Chinese authorities last year, with over 2200 illegal online gambling platforms shut down in the latest crackdown.
The arrests and closures were the result of 17000 separate cases investigated by China's
Ministry of Public Security, which also resulted in 1600 illegal payment…
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…
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Macau Business
Macau’s Challenges: From Better Management of Casinos within Casinos to “Suitable” Economic Diversification
The recent closure of some VIP rooms and the emphasis on Macau-Hengqin cooperation can be analytically put together as a whole package of governing issues with implications for Macau: namely the effective transition from a much better and tighter management of some "casinos" within casino franchises to the formulation and implementation of…
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…
Quartz
Macau's casinos could be the next target in China's crackdown
In its 22 years under Chinese rule, Macau evolved from a sleepy and slightly sleazy Portuguese colony to the biggest gambling jurisdiction in the world. Fueled by foreign investment, laissez-faire oversight, and billions of gamblers a short flight away, casino revenue on the island reached a high of 363 billion pacatas, or $45.4 billion, in 2013,…
Radio Free Asia
Wanted Chinese Kingpin Owns Casino With Cambodian Senator's Son-in-Law
Political connections in Cambodia have allowed a major Chinese fugitive to elude jail while building a business empire, an investigation by RFA has found.
Xu Aimin was sentenced to 10 years in a Chinese prison in 2013 for masterminding an illicit international gambling ring with an estimated turnover of $1.75 billion. Rather than do the time for…
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