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The Latest in macau
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gambling has never been legal in the country, the current laws were introduced a long time ago and are already fairly outdated.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 […]
Legal
November 13, 2023
Macau Gambling Operators Abandon Compensations from Suncity
Late last month, the Court of Second Instance in Macau confirmed an 18-year prison sentence against Alvin Chau, the former CEO and founder of the junket operator, Suncity Group. The former CEO was indicted for money laundering, illegal gambling, fraud and association with criminal organizations. In addition to Chau, some 20 other people were also […]
Legal
October 23, 2023
Macau Court Confirms Ex-Junket King Chau Prison Sentence
In January, the 49-year-old founder and chief executive officer of casino junket Suncity Group Ltd., Alvin Chau, was indicted for fraud, criminal association, money laundering, and illegal gaming. Some 20 other people were indicted for the same crimes. While the former CEO was not convicted of money laundering at the Court of First Instance, he […]
Industry
October 2, 2023
Macau Reports Impressive Gaming Revenue Increase for September
The gambling province of Macau has reported an extraordinary surge in gaming revenue for September 2023, showcasing its resilience and rapid recovery. Although the MOP 14.9 billion ($1.85 billion) falls below August’s results, this remarkable recovery indicates a positive trend amidst the challenges of the COVID-19 pandemic and changing government policies. Most Metrics Recorded Substantial […]