Industry
January 5, 2022
Macau’s Casinos Could Become Guinea Pigs for China’s Digital Currency
China has big plans for its central bank digital currency (CBDC), the digital yuan. Pilot programs have already been introduced to test its ability, but big changes could soon be coming. A report by Reuters indicates that those changes may include Macau’s casinos. Macau to be Chinese CDBC Guinea Pig As Macau prepares to introduce […]
Casino
January 3, 2022
Wynn Macau, Casino Companies Pay Bonuses to Employees
Wynn Macau has decided to give all of its (or nearly all) employees a holiday bonus that will be paid out this month. The bonus reflects not so much on the holiday season but rather on the dedication with which members of the team have worked through the nadir of the pandemic and coped with […]
Industry
January 3, 2022
Macau Sees Significant GGR Growth as 2021 Winds Up
Macau was able to find some solid ground in 2021, despite ongoing global issues with COVID-19. The level of activity for the year wasn’t where the casino hub thought it would be, but it was a huge step in the right direction. As the pandemic continues to cause problems, whether Macau will see more growth […]
Casino
December 30, 2021
Macau Hotel Occupancy Improves, But Omicron Threat Looms
Macau’s hospitality industry in November saw a 44.1% occupancy rate, or a 2.4% increase year-over-year. Macau has been one of the longest-standing bastions against the global pandemic, with the special administrative region (SAR) registering not a single COVID-19 case since early into the pandemic. That was until recently. However, the region has reported its second […]
Industry
December 28, 2021
Wynn Macau and Melco Resorts Severed Ties with Junkets
Two of the six casino licensees in Macau, Wynn Macau and Melco Resorts, confirmed to have completely cut their ties with junket operators, an article in GGRAsia revealed. Wynn Macau and Melco Resorts The junket sector has been seriously hit after the arrest of Suncity chief executive officer Alvin Chao last month when analysts predicted […]
Legal
December 27, 2021
Macau Set to Finalize Casino Concessions Ahead of Expiry
Macau authorities are looking to open the bidding process for new casino licenses prior to the expiration of the current gambling permits, suggested notes from JP Morgan Securities (Asia Pacific), Morgan Stanley, and Sanford C. Bernstein. JP Morgan Securities On Thursday, the government of the Special Administrative Region (SAR) of China released its summary report […]
Industry
December 27, 2021
Macau Casino Stocks Get a Boost as City Provides 2022 Gaming Update
Gaming operators with a presence in Macau received a last-minute Christmas gift last week. Only weeks after analysts set a reduced revenue forecast for Macau in 2022, the city provided an update on what is likely coming with new gaming laws. That revelation made analysts a little more optimistic, which, in turn, made investors optimistic. […]
Business
December 23, 2021
Melco Brings in Hotel Heavyweight Marriott to Help with Studio City Project
Even as Macau’s gaming future has a certain air of uncertainty surrounding it, casino operators continue to push forward as if everything is normal. In some cases, it’s obligatory. Melco Resorts International already has a lot of money invested in its Studio City property and will see it through to the end. To help support […]
Business
December 22, 2021
Wynn Macau to Break Off Marriage with Junkets
Earlier this year, Wynn Resorts announced that it was likely going to put some distance between its Wynn Macau arm and junket operators. Following the drama surrounding Suncity Group over the past month, the casino operator is ready to fulfill that statement. Junket Ops Dying in Macau Linda Chen, the vice-chairman and chief operating officer […]
Industry
December 16, 2021
Macau Optimistic on Casino Concession Approvals in 2022
The Macau government seems like it is pushing to finish the re-tendering process of gaming concessions before current licenses expire next year. Lei Wai Nong, the Secretary for Economy and Finance, stated that details will soon be announced. Casino Tenders a Sensitive Subject According to Inside Asian Gaming, Lei spoke to the media after this […]