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Industry
March 7, 2024
IMF: Macau Economy to Return to Pre-Pandemic Levels in 2025
The International Monetary Fund (IMF) has published its outlook for Macau, projecting further recovery of its casino sector and overall economy. Gambling in the special administrative region was affected negatively by the COVID-19 pandemic and China’s Zero-COVID policy but is now on a firm path to recovery. According to the IMF, the recovering GGR will […]
Industry
March 5, 2024
Macau’s Casino Industry Was the Main Driver of Tax Income in 2024
Macau’s Financial Services Bureau has published information about the tax contribution of the region’s six casino concessionaires. According to the report, the special administrative region’s gambling industry continues to be the main driver of tax income. The total tax revenue reported by the government was $10.5 billion. The bureau said that the six casino companies […]
Industry
March 4, 2024
Macau Casinos Report $2.3B in GGR as Post-COVID Recovery Continues
Macau published information about the performance of its gambling industry in February, highlighting its continued recovery. While the special administrative region is yet to publish its official tourism results, the GGR figures suggest that the tourism sector continues to grow. Macau’s gambling industry was previously impeded by the COVID-19 pandemic and China’s zero-COVID policy. For […]
Business
February 28, 2024
GEG Posts Favorable Q4 Results, Underpinned by Macau’s Recovery
Gaming and hospitality giant Galaxy Entertainment Group (GEG) has published its Q4 results, illustrating an optimistic outlook for the company’s business. According to chair Dr Lui Che Woo, the company is well positioned for further growth. In Q4, GEG reported net revenue of HKD 10.3 billion ($1.3 billion), showing a spectacular 254% increase year-on-year. Adjusted […]
Industry
February 20, 2024
Macau Proposes Illegal Gambling Law with Ancillary Penalties
The Macau government’s new legislation proposal aimed at clamping down on crimes related to illegal gambling has been sent to the SAR Legislative Assembly. The latter is now busy studying its content, including a variety of ancillary penalties like player expulsion and the prohibition from entering Macau or an increase in the maximum penalty for […]
Casino
February 5, 2024
Macau Casinos Navigate Debt Maturities Amidst Positive Revenue Outlook
Macau’s gaming operators are facing the challenge of upcoming debt maturities, with significant obligations slated for 2025. However, amidst the financial landscape shaped by the COVID-19 pandemic, these operators seem prepared to handle the situation with cautious optimism. Macau Casinos Delay Debt Refinancing for 2025, Eyeing Improved Cash Flow According to recent insights from S&P […]
Industry
January 24, 2024
Macau Casino Chip Scam Results in Arrest of Eight Suspects
Casino operators are often targeted by criminals who attempt to cheat or manipulate the games for their advantage. While some try to cheat, others engage in fraudulent activities such as using fake chips to play. Last year, a massive fraudulent scheme was uncovered in Macau with police authorities seizing nearly 1,000 fake chips. During the […]
Casino
January 23, 2024
Macau Gaming Service Index Hits Record Score in 2023, Survey
Casino operators across the globe constantly strive to improve the conditions for their customers by rolling out different amenities. From comfortable chairs to the latest video slots and a wide range of table games, the competition among operators is fierce. Currently, Macau is one major gambling hub for the Asian region and operators there also […]
Business
January 19, 2024
Deutsche Bank Analyst Reevaluates Q4 Projections for Las Vegas Sands
Las Vegas Sands, the globally recognized hospitality and gaming company, confirmed the launch of a massive revamp at Marina Bay Sands back in February 2022. Earlier this week, the second phase of the project was initiated which involved a $750 million reinvestment. Again, this week, Las Vegas Sands’ share price target marked an increase. Carlo […]
Industry
January 17, 2024
End of an Era: Macau’s Historic Racing Industry Closes in April
The decision to conclude racing in Macau, effective 1 April, has left the racing community in shock, raising questions about the future of hundreds of industry figures. The demise of racing in Macau was not entirely unexpected, given the financial struggles of the Jockey Club over the years. However, the abrupt timing of the decision […]
