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Industry
January 16, 2024
Macau Can Expect Stable Q4 EBITDA Growth
Macau’s six concessionaires are expected to report a 6% increase in aggregate Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) for the fourth quarter of 2023, with SJM Holdings and Wynn Macau leading the way. The casino resorts must adapt to rapidly shifting industry trends, but 2024 should present more opportunities than challenges, helping the […]
Industry
January 15, 2024
Macau Jockey Club Terminates Concession as Losses Exceed $2.5B
Macau Horse Racing Company Limited, the company behind the Macau Jockey Club, announced with regret that it has reached an agreement with the Macau government to terminate its concession contract. Under this agreement, the contract will expire on April 1, 2024. The Macau Jockey Club was founded through a contract between the Portuguese government and […]
Industry
January 3, 2024
Macau Witnesses Another Drastic Decline in Junkets
Although Macau remains famous as the Vegas of the East, the region’s casino industry is now a far cry from its heyday of 2014 when 235 junket operators contributed around 60% of the $45 billion casino revenues, more than triple compared to Las Vegas. This drastic reduction is part of several targeted measures by local […]
Business
January 2, 2024
Macau GGR Increase in 2023 to Boost Nongaming Investments
Casino operators across Macau wrapped up a successful 2023 with exceptional results achieved in December and overall good performance throughout the year when compared to 2022. The outstanding results will now push the enclave’s six casino operators, Melco, SJM, Wynn, MGM, Sands and Galaxy, to invest more money into nongaming amenities and projects. The reported […]
Industry
December 12, 2023
New Macau Bill Seeks to Ban iGaming and Outlaw Parallel Betting
Macau continues to crack down on illegal gambling and is planning to introduce a new ban on online gambling amid rising gambling-related crime rates. While online gambling has never been legal in the country, the current laws were introduced a long time ago and are already fairly outdated. Under a proposed new legislative bill, introduced […]
Business
December 6, 2023
Las Vegas Sands Corp Increases Stake in Sands China Ltd Amidst Market Downturn
Las Vegas Sands Corp (LVS) is strategically adjusting its position to boost its holdings in its Macau subsidiary, Sands China Ltd. A Hong Kong Stock Exchange filing revealed that the company’s controlling shareholder, LVS, intends to engage in a share purchase transaction with an undisclosed financial institution. Sands China hopes for enduring success in the […]
Industry
December 4, 2023
Gambling-Related Crime in Macau Increases as the Industry Rebounds
Macau’s gaming industry reported a significant year-on-year gross gaming revenue increase in November. The special administrative region’s gambling sector was impacted negatively by the COVID-19 pandemic but seems on a steady path to recovery. According to the report, the local gambling operators recorded GGR of almost $2 billion last month, marking a stellar 435% year-on-year […]
Legal
November 22, 2023
Macau Wants to Reinstate Fraud Charges against Suncity, Says Report
Many criminal cases come to an end once the person or organization is sentenced. Yet, considering the different levels of courts, appeals can be filed, prolonging the inevitable or in some cases completely changing the outcome of a legal battle. Earlier this year, back in January, Macau’s Court of First Instance, sentenced Alvin Chau, the […]
Industry
November 20, 2023
Bond Investors Double Down on Macau Casino Debt
Bond investors from Asia and beyond are taking the risk and doubling down on investments in Macau casino debt. This move carries certain uncertainties but has the potential to be more lucrative than investments in corporate debt. At the moment, investing in Macau casino debt might be less risky than investing in shares too. The […]
Business
November 13, 2023
Aristocrat Gaming to Showcase Year of the Dragon Games at MGS
Aristocrat Gaming, a leading slot machine and casino game manufacturer, is set to showcase new games at the Macau Gaming Show (MGS) Summit. The event is scheduled for November 14 and 15 and will welcome over 5,000 industry professionals. The highly anticipated trade exhibition will see Aristocrat Gaming display some of its recent and upcoming […]