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Legal
January 6, 2021
China Reports 11m Daily Online Gamblers in New Security Report
China’s Ministry of Public Security has published a new report outlining the progress that has been made against illegal online cross-border gambling in 2020. China Continues to Put Heat on Online Gambling Gambling in China is going at full bore despite the government’s better efforts to clamp down on illegal activities and limit the scope […]
Business
January 4, 2021
SJM Employees to Receive Living Subsidy Payment on January 6
SJM Holdings Limited revealed that some of its employees will be receiving a living subsidy bonus. The bonus payments will be done in two equal installments this month and in July. Eligible SJM Employees to Receive Living Subsidy Bonus SJM Holdings Limited, which is the holding company of Sociedade de Jogos de Macau, S.A. (“SJM”) […]
Casino
January 2, 2021
China Decided Crown Sydney’s Fate Ahead of License Decision
Long-awaited opening of Crown Resorts’ new AU$2.2 billion casino resort in Barangaroo near Sydney happened Monday, but casino operations did not commence as the Independent Liquor and Gaming Authority (ILGA) blocked the ASX-listed company from opening its casino until a final decision regarding its casino license is reached. ILGA Final Decision Pending Following on Crown’s […]
Business
January 1, 2021
Playtika Plans a US Public Listing after Chinese Hopes Dashed
After three futile attempts to go public in China, Playtika is turning a hopeful eye to the United States where 75% of the company’s revenue is realized. Playtika Readies up to Change Chinese for US Dream Playtika, a developer of mobile casino-style games, is finally pulling away from its long-coveted market in China, after authorities […]
Legal
December 30, 2020
JP Morgan Outlines China Criminal Law Amendment Implications
The criminal law amendment in China seeking punishment for organizers of trips with gambling purposes outside the country for mainland residents could make junket operators who used to bring high-rollers to Macau casinos anxious, a Tuesday memo from JP Morgan Securities (Asia Pacific) outlines. Junket Industry under Threat The ban effective from March 1, 2021 […]
Legal
December 29, 2020
Gambling Trip Organizers to Receive Prison Sentences in China
According to a recent change to China’s Criminal Law, organizers of overseas trips with the intent to gamble may face charges and a sentence of up to 10 years. The tough measure may be a part of China’s crackdown on gambling and comes into effect on March 1 next year. Changes to Criminal Law Incriminate […]
Industry
December 15, 2020
Wynn CEO: Macau Operators Would Benefit From Functioning US-China Relations
Wynn Resorts CEO Matt Maddox told the AGA that improving the tense relations between the US and China could benefit Macau’s casino operators. Softening the US-China Relationship is Crucial The tense relationship between the United States and China could improve under the Biden administration, according to Matt Maddox, Wynn Resorts CEO. Better relations would benefit […]
Legal
December 9, 2020
TripAdvisor Banned in China in New Anti-Gambling Sweep
Chinese authorities have cracked down on 150 apps in the country, including popular travel platform TripAdvisor, citing fears of illegal gambling and other illicit operations. China Pulls the Plug on TripAdvisor from Local App Stores China has swept 150 apps under the rug, arguing that the software has been targeting Chinese citizens and posed a […]
Industry
December 6, 2020
JP Morgan: No Room for Panic for Macau Casinos for Now
Macau gambling industry is still struggling to rebound from the coronavirus impact and the subsequent restriction measures resulting in $27 billion less revenue this year, when a new existential threat is on the horizon: the adoption of the digital currently backed by the People’s Bank of China (PBC), the digital yuan. Junkets Facing an Existential […]
Legal
December 2, 2020
Macau Regulator Denies Reports of E-Yuan Gaming Options
After a report by Bloomberg that Macau’s casinos will replace FIAT currency with e-yuan, the city’s gambling regulator has denied the rumors outright. No E-Yuan for Macau’s Casinos, Says Regulator A recent report by Bloomberg has suggested that the Gaming Inspection and Coordination Bureau (DICJ) in Macau may be preparing to introduce the e-yuan as […]