Tag Archives: China
China – BetB2B broadens bingo selection in Southeast Asia
BetB2B is expanding its presence in Southeast Asia and has added new Bingo lottery games from Chinese studio JDB Gaming to its library. Nine new lottery games with an eastern twist have been added to the corresponding section of the platform. JDB Gaming was one of the first to integrate traditional slots into an online…
China – Melco hopes for ‘smooth road’ ahead with no new COVID cases in 144 days
Melco Resorts’ revenues for the second quarter of 2020 were US$0.18bn, representing a decrease of approximately 88 per cent from US$1.46bn for the comparable period in 2019. The decrease in total operating revenues was primarily attributable to softer performance in all gaming segments and non-gaming operations as a result of the COVID-19 pandemic, which resulted…
China – Analysts pitch Macau’s return to form following IVS relaunch in Zhuhai
Analysts are describing the relaunch of the Individual Visit Scheme (IVS) for residents from Zhuhai to enter Macau as the most important ‘baby step’ yet for the region’s rebound with the hope being that visas for the rest of mainland China could be being issued in time for Macau’s Golden Week in October. Vitaly Umansky,…
China – JP Morgan tips Macau for steady improvement over next few months
JP Morgan believes that Macau’s GGR will show gradual improvement from the middle of August with casinos expected to break even in two month’s time. Macau’s GGR fell by 94.5 per cent in July year-on-year to MOP$1.34bn with a slight improvement due to the easing of border restrictions with Guangdong Province. JP Morgan analysts DS…
China – MGM ‘encouraged to see lifting of quarantine measures’ as first half revenues fall 77 per cent
During the first half of the year, MGM China recorded total revenue of approximately HK$2.4bn. The group saw a negative adjusted EBITDA of approximately HK$1bn. Overall occupancy rate was 19.8 per cent. The results were severely impacted by the COVID-19 pandemic with MGM saying it continues to be impacted today. China has implemented temporary suspension…
China – Macau braced for its ‘worst quarter ever’ with EBITDA losses of more than US$1bn
Macau’s casino sector is bracing itself for its ‘worst quarter ever’ for the three months to June 30 with Morgan Stanley expecting quarterly EBITDA losses of more than US$1bn. Morgan Stanley’s Praveen Choudhary and Gareth Leung believe EBITDA losses will come in at around US$1.04bn between the six licence holders with Sands China hit by…
China – Reed Exhibitions puts G2E Asia back to December
Based on a continued monitoring of the global health crisis, and in consultation with our customers and the Macau government, G2E Asia has been rescheduled for December 1 to 3, 2020 at the Venetian Macao. Organiser Reed Exhibition said: “Unfortunately, due to the COVID-19 pandemic and continued travel and commercial restrictions, it is not possible…
China – Instinet predicts three year recovery for Macau’s casinos
Analysts at Instinet, owned by Nomura, believe Macau faces a three-year recovery to get back to where it was before the coronavirus outbreak with June 2020 GGR reset giving way to a gradual ramp up by mid-2023. It believes that the international recovery will ‘occur first in Macau’ but border restrictions between Macau and neighbouring…
China – Global gaming sector watches on as analysts pitch Macau’s recovery
With gaming operators on pause across the world, many will be looking at Macau’s casino sector to gauge how their own recoveries may pan out once business is up and running again. Macau’s 41 casinos began reopening on February 20 having been closed for two weeks. It is of course a unique market being the…
