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Legal
June 21, 2022
Macau Legislative Assembly Passed New Laws
The Macau Legislative Assembly has finally passed the discussed gambling amendments into the law. Lawmakers almost unanimously agreed on the new laws with just one member disagreeing with a single clause. Members of the Assembly discussed all the changes one more time, addressing each article individually. After that, they got to voting and approved the […]
Legal
June 21, 2022
Macau: Alvin Chau to Face Trial This September, Says Report
Suncity’s former CEO, Alvin Chau, is set to appear in court this autumn along with other suspects, a new report reveals. Former Suncity Boss to Go to Trial This Autumn Allegations against Chau include cross-border gambling, claiming that he organized a network that allowed rich China residents to gamble in Macau, the world’s richest gambling […]
Industry
June 21, 2022
The Philippines Can’t Get Off FATF’s Grey List
Following a meeting that lasted for four days, Paris-based international regulator, the Financial Action Task Force (FATF), has decided to keep the Philippines on its grey list. Despite progress on the anti-money laundering (AML) and combatting the financing of terrorism (CFT) front, the country still has work to do in order to be able to […]
Casino
June 21, 2022
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 […]
Casino
June 20, 2022
Macau’s GGR for June Expected to Nosedive
An uptick in the COVID-19 infections in Macau has forced the entire Special Administrative Region (SAR) to shut down. At the time of writing this, 34 total cases have been reported by the Novel Coronavirus Response and Coordination Centre, Macau’s authority tasked with enforcing the zero COVID policy of mainland China. Casinos Remain Open, But […]
Casino
June 20, 2022
Banks Freeze Okada Manila Accounts amid Takeover
Okada Manila, an iconic integrated resort in the Philippines, has been the subject of a legal battle. Kazuo Okada, the resort’s founder and Tiger Resorts Asia Ltd (TRAL) have been fighting over ownership of the venue. As the quarrel continues, banks have frozen Okada Manila’s bank accounts. Banks Freeze the Resort’s Bank Accounts The announcement […]
Casino
June 20, 2022
37-Year-Old Man in India Takes Own Life over Gambling Debt
A 37-year-old man was found dead in his home in Manali, Himachal Pradesh, India. He committed suicide over gambling debt with his latest online gambling session resulting in a total debt loss of 20 lakh ($25,656). He is the latest victim of gambling-related harm in the country with India currently at crossroads as to how […]
Industry
June 20, 2022
Macau Continues Mass Testing While Keeping Casinos Open
China’s vainglorious attempt to keep the spread of the COVID-19 infection under to a zero has been punctuated by on-again-off-again lockdowns that have translated into a grim outlook about Macau’s recovery and plunging business bottom lines. On Monday, the Chinese territory has begun its second day of intensified testing which will take a sample from […]
Legal
June 16, 2022
Macau’s New Gaming Law Raises Contribution Payments by 1%
Macau casino concessionaires are facing a tax hike among other changes according to the latest version of the Special Administrative Region (SAR)’s new Gaming Law. Subtle Tax Hike The Second Standing Committee of the Legislative Assembly has been discussing Macau’s new Gaming Law for over four months but Wednesday saw its last discussion before the […]
Casino
June 16, 2022
SJM to Run Grand Emperor Hotel Casino for Another Six Months
Hong Kong-based Emperor Entertainment Hotel Ltd will let concessioner SJM Holdings Ltd run the satellite casino at the Grand Emperor Hotel for another six months despite the service agreement with SJM expiring on June 26. In order to keep the casino running, SJM shall have to pay fees of HKD 21.0 million ($2.6 million) to […]
