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Tag Archives: China

China – Latest COVID outbreaks and travel restrictions threaten Macau’s latest Golden Week

The latest outbreak of COVID-19 will put a huge dampener on Macau’s Golden Week, set to run from October 1 to 7 with analysts predicting that half of the people who have booked their travel and accommodation will now be unable to make the trip. The SAR has declared a ‘state of immediate prevention’ following…

China – Macau’s casino share prices fall as Government confirms public consultation

Shares in Macau’s casino operators have lost a third of their value, plummeting by $14bn, due to investor fears over a government consultation that could see tighter restrictions brought into effect. Wynn Macau fell by 34 per cent to a record low with a similar 28 per cent dip for Sands China. Macau’s secretary for…

China – China to crackdown on Macau’s junket operations

The Macau casino sector is facing a series of shake-ups when the new concessions are approved with the government looking at axing the sub concession model and cracking down on how casinos handle junkets. Analysts believe the crackdown will see the size of the junket market in Macau shrink with a ‘much smaller junket operation…

China – First infections since February 2020 see Macau move into state of ‘immediate pandemic prevention’

Macau has entered a state of ‘immediate pandemic prevention’ with the government stating ‘Macau is now facing a high risk of COVID-19 transmission and pandemic outbreak in the local community.’ A family of four tested positive for the Delta variant, becoming the first infections in Macau for almost a year and a half. “In order…

China – Melco reduces operating loss as EBIDTA bounces back at all its Macau casinos

Melco Resorts generated operating loss for the second quarter of 2021 of US$128.1m, compared with operating loss of US$370.8m in the second quarter of 2020. Total operating revenues for the second quarter of 2021 were US$566.4m, representing an increase of approximately 222 per cent from US$175.9m for the comparable period in 2020. The increase in…

China – Macau GGR could set new records again by 2025

Brokerage firm Sanford C. Bernstein believes Macau’s recovery will be complete by 2025 with predictions it could equal the all-time record of MOP$360.8bn (US$45.2bn) generated in 2013. The report states that if border restrictions with mainland China are relaxed in the near future, this year’s revenues could increase by 144 per cent year-on-year. Bernstein analysts…

China – Melco’s non-gaming Guangdong resort could strengthen its Macau licence

Brokerage firm Sanford C. Bernstein believes Melco Resorts will receive a boost from Melco International’s non-gaming resort in Zhongshan, a city close to Macau, in Guangdong province, as it ties in with the Chinese government’s wish for gaming company’s to diversify their offerings. The Zhongshan resort will include hotels, restaurants and theme parks. and should…

China – Melco to develop Guangdong resort as ‘gateway for global tourism into China’

Although it won’t be offering a gaming element, Melco International has, in partnership with Agile Group, has successfully tendered for a mixed use site at Zhongshan, Guangdong province in China with a resort that will include hotels, theme parks and restaurants. The two companies plan to develop a premium residential, entertainment and hospitality mixed-use complex….

China – Macau casinos told to bring back covid countermeasures

Macau’s government has told its casino operators that they must reintroduce Covid-19 countermeasures including the compulsory wearing of masks, temperature checks and health status checks due to a rise in infections in Guangdong coupled with the low rate of vaccination. Anyone whose Macao Health Code is red or yellow will not be allowed into the…