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Casino
November 17, 2022
Alvin Chau Challenges Evidence Presented by Macau Judiciary Police
The case against Suncity Group former CEO Alvin Chau and 20 other defendants draws to a close as all testimonies from witnesses have already been heard and the final arguments are scheduled for November 21. Alvin Chau Challenges Evidence Presented by the Defense Ex-CEO of Suncity Group Alvin Chau and his lawyer have been challenging […]
Industry
November 15, 2022
Further Adjustments Are Made to Macau Junket Law Before Approval in December
The Second Standing Committee of the Macau Legislative Assembly is going to review the Legal Framework for Operating Games of Chance in Casinos, which has been duped by the new junket law of Macau, on November 21. New Article Addition to Clarify What Junket Activities at Macau Casinos Entail At their next meeting taking place […]
Legal
November 14, 2022
China and Cambodia Strengthen Efforts against Illegal Gambling
Cambodia and China agreed to level up their fight against telecommunication fraud and online gambling last week. The Two Countries Boost Efforts against Fraud, Illegal Gambling Li Keqiang, China’s Premier visited Cambodia last week and participated in the Association of South-East Asian Nations (ASEAN) Summit. During the event, he met with Cambodia’s Prime Minister, Hun […]
Casino
November 14, 2022
Macau’s Concessionaires Agree to Pay $12.5B Collectively in 10 Years
Macau is keen to get more bang for its license extensions concerning the casino industry in the Special Administrative Region over the next ten years. But before the administration grants any licenses, it would need some commitment on the part of concessionaires. One such commitment is for the six winners to invest a combined MOP100 […]
Industry
November 7, 2022
Macau Sets GGR Target for 2023 at $16B
The Specia Administrative Region government of Macau has submitted its forecast for next year’s budget. According to the local government, Macau should be able to generate around MOP$130 billion ($16 billion) in gross gaming revenue, or so the Legislative Assembly expects as per the latest submission by the government. It’s also the exact same amount […]
Lottery
November 2, 2022
Lottery Winner Hid $30М Jackpot from Family
On October 21, a Chinese citizen, identified only by his pseudonym Mr Li, won a jackpot amounting to 220 million Yuan (approximately $30.1 million) but decided not to tell his wife and child, because he was afraid that they would become lazy and would not work or study hard in future or they would act […]
Industry
November 1, 2022
Reintroduction of Chinese eVisas Bode Macau Gambling Industry Recovery
According to an analysis by JPMorgan, positive EBITDA for Macau casino operators could be expected in December, following China’s National Immigration Administration (NIA) announcement that on November 1 it is going to introduce new electronic visas for mainland residents that want to visit Macau. Resumption of eVisas Will Probably Bring Casino Operators to Positive EBITDA […]
Industry
October 31, 2022
China to Introduce eVisas on November 1
China is rolling in a new online visa application system, colloquially referred to as eVisa, that will be used to allow citizens from the mainland to travel to Macau beginning on November 1. The online visa system will replace the in-place application as China continues to digitalize its services, control the inflow and outflow of […]
Blockchain
October 28, 2022
Hong Kong Making a U-Turn on Retail Crypto Trading
Hong Kong may be moving away from China in terms of what the Special Administrative Region does with its cryptocurrency industry. A new report by Bloomberg suggests that the city is planning to go ahead with retail cryptocurrency trading. Digital asset trading took a hit last year amid strong opposition from cryptocurrency and blockchain industry […]
Casino
October 27, 2022
Macau: Casino Shares Optimism Dampened by New Covid Case
Macau’s casinos rallied Wednesday on the news that authorities are about to resume group tours from mainland China to the Special Administrative Region (SAR), only to subside later in the day on the rollout of mass testing in some areas, Bloomberg reported. The City Ready to Resume Mainland China Tours Following a report in TDM, […]
