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Legal
February 11, 2025
Latvia Faces €7.3M Compensation Claim for COVID-19 Gambling Ban
The Latvian government faces financial consequences nearly five years after the Parliament first implemented COVID-19 containment measures. The State must compensate interactive gambling operators following court rulings that deemed the imposed restrictions unlawful. Operators Filed Collective Claims of €7.3M According to Latvian Television’s “de facto” program, companies have collectively filed claims amounting to €7.3 million […]
Industry
August 15, 2024
Fired MGM Resorts Workers File Lawsuits over Vaccination Requirement
The outbreak of the COVID-19 pandemic several years ago disrupted businesses across the globe. The impact of traveling restrictions and reduced capacities for indoor venues affected the gaming and hospitality industry and even the gambling capital of the world, Las Vegas, was impacted. In 2021, when a vaccine was approved, MGM Resorts International was the […]
Industry
September 1, 2023
Former New Hampshire Senator Accused of Fraudulent COVID-19 Relief Spending
Former New Hampshire senator Andy Sanborn, owner of the Concord Casino, is now under intense scrutiny after allegations of COVID-19 relief fraud and extravagant personal spending. The state’s Attorney General John Formella and the Lottery Commission jointly announced that Sanborn is considered “not suitable” to be involved in charitable gaming due to the alleged misconduct. […]
Industry
December 1, 2022
Macau GGR Continues to Decline in November
Macau’s gambling industry has failed to experience the recovery the region’s government hoped for. According to the latest data, casinos in the special administrative region had gross gaming revenue of just $374 million. FY GGR Will Be Much Lower than Estimated The $374 million Macau concessionaires earned in November represent a 55.6% year-on-year decline. Furthermore, […]
Industry
November 1, 2022
Macau GGR Declined by 10.7% in October
The gaming industry in the special administrative region of Macau continues to struggle with the aftermath of the pandemic. The Macau Gaming Inspection and Coordination Bureau just reported how gambling performed in October. While the results are not great, they show that there might be hope for recovery. The Bureau Posted the October Results According […]
Industry
September 29, 2022
GKJC Launches Jockey Club Long COVID Rehabilitation Program
After expanding its board of stewards with new deputy chairman Eric Cheung and new chairman Michael Lee at the beginning of the month and announcing an impressive turnover of HKD 140 billion ($17.8 billion) for 2021-2022 in mid-July in spite of COVID restrictions, the Hong Kong Jockey Club (HKJC) has fresh news. The club has […]
Casino
September 23, 2022
The Pandemic Taught AC Casinos a Few Lessons
During the 25th East Coast Gaming Congress, which is taking place September 21 – 23, 2022 at the Hard Rock Hotel & Casino – Atlantic City, many executives from big companies in the gambling sector stated that they have learned many lessons from the COVID-19 pandemic. Lower Casino Salaries and Revenues Due to COVID 19 […]
Industry
September 6, 2022
Bernstein Is Skeptical about Macau’s Recovery
Finance expert Bernstein has once again commented on the situation of Macau’s gambling market. This time, the firm’s analysts discussed the special administrative region’s slight daily revenue growth. Umansky and Yang Don’t Buy the Optimism Vitaly Umansky and Shirley Yang, two finance experts at Bernstein, explained that during September’s first four days, Macau’s gross gaming […]
Casino
July 22, 2022
Macau’s War on COVID Reaps Partial Success
Macau’s casinos will soon reopen as the special administrative region confirmed no new COVID-19 cases last Thursday. Macau’s Anti-COVID Measures Worked Last Friday, the government of Macau announced that it had identified no new cases of COVID among the locals on July 14. This was the first day without a new case since the outbreak, […]
Industry
July 11, 2022
Credit Suisse Cautions Against Buying Macau Gaming Stocks
Analysts’ optimism with regard to Macau’s casinos has been dashed as financial experts have weighed the risks and concluded that the special administrative region is in for a very difficult spell. Financial experts from Credit Suisse cautioned against buying Macau casino stocks, warning that buying such assets could result in unpredictable and dangerous investment scenarios. […]
