Casino
April 25, 2022
Wynn Macau Looks for Alternatives to Attract Customers Sourced by Junkets
Wynn Macau Ltd has stated that the VIP customers sourced by junket operators are still important to the company’s revenue. That is why the Macau concessionaire has stated that it must seek alternate options that will allow it to develop a solid relationship with them. Wynn Macau Confirmed Ceasing Operating Junket Rooms at the End […]
Casino
April 25, 2022
SJM Holdings’ Liquidity Runs Low, According to JP Morgan Analysts
SJM Holdings’ liquidity has been labeled as “worrying” by JP Morgan analysts as concerns are rising concerning SJM Holdings’ refinancing abilities as the pandemic keeps soaring. The Macau casino concessionaire was among the businesses that paid a lot of money to extend their licenses until the end of 2022. SJM’s Cash Reserves Can Last for […]
Industry
April 25, 2022
Macau’s Casinos May Be Holding up to $6.4B in Frozen Junket Funds
The relationship between casino concessionaires in Macau and junket operators has never been exactly amicable, but a sweeping change to the existing laws is not making it any easier. Many of the present-day issues pertain to questionable practices in the past and the present-day realities are something that analysts, including Credit Suisse’s Kenneth Fong, Lok […]
Industry
April 21, 2022
Macau Legislative Assembly Voted in Favor of New Junket Bill
Macau’s new junket regulation law passed its first reading at the Special Administrative Region (SAR) of China’s Legislative Assembly (LA) with an overwhelming majority, Inside Asian Gaming reported. Tighter Regulation and Penalties for Junkets The bill titled “Legal Framework for Operating Games of Chance in Casinos” is aimed at further strengthening regulation for casino junket […]
Casino
April 20, 2022
Mass Baccarat Yielded 60% of Macau’s GGR in April
Macau’s gambling market is experiencing some tough periods because of the COVID-19 pandemic. The special administrative region’s gross gaming revenues have been steadily falling because of the safety measures, with analysts expecting the situation to not get better anytime soon. Despite the hurdles, the industry continues to see mass baccarat as the most favored game […]
Casino
April 20, 2022
Macau’s Gambling Revenues Continue to Drop Amid COVID-19 Hurdles
While the COVID-19 pandemic has winded down in the Western world, China is experiencing a new wave of COVID-related hurdles. The situation has hugely affected the special administrative region of Macau, leading to a 25% drop in its gross gaming revenues (GGR). Macau’s Results for April Are Expected to be the Lowest since September 2020 […]
Casino
April 19, 2022
Sands China Let Go of 3,000 Non-local Workers since the Start of the Pandemic
Sands China’s president, Wilfred Wong has stated that Sands China has fired more than 3,000 non-local workers since the start of the pandemic. Although he did not reveal the number of local workers that were laid off, he confirmed that 75% of the current employees are Macau residents. Non-local Workers Number in Macau’s Six Concessionaires […]
Industry
April 14, 2022
Macau Outlines New Penalties for Offending Junkets
Macau is not going to back down from regulating junket operators. Companies who engage in such activities would be held liable for various offenses to be inscribed in a new law and participants in junket operations would have to be on the straight and narrow to avoid what is possibly jail sentences. One of the […]
Casino
April 14, 2022
IMF Cautions Macau about Long-Term Growth as Gaming Faces Regulation
Macau has been shifting away from what is discovered to be an overreliance on its gaming industry. The realization was reinforced during the pandemic with casino properties and parlors remaining idle and officials rolling up their sleeves to tidy up the industry from its often unhealthy relationship with junket operators. IMF Sees Macau as Too […]
Casino
April 4, 2022
Macau’s Grand Emperor Hotel Casino to Shutter Operations in June
Concessionaires in Macau have faced many challenges over the last couple of years. The COVID-19 pandemic has kept revenues low and operational results ailing, but the special administrative region may finally be turning a corner despite struggling performances. To cope with the stress of the past two years, some companies have decided to reduce their […]
