[bsa_pro_ad_space id=1 link=same] [bsa_pro_ad_space id=2]

Skip to Content

Tag Archives: Macau

China – Golden Dragon to close four satellite casinos

Macau’s Golden Dragon Group will shut four of its satellite casinos by the summer amid claims that such operators feel ‘hopeless towards the future.’ The four casinos are part-owned by former legislator Chan Meng Kam. Casino Golden Dragon, Royal Dragon and Casino Million Dragon all operate via a gaming licence held by SJM Holdings whilst…

China – Seven satellite casinos could close in Macau this summer

Seven satellite casinos in Macau, equating to around 40 per cent of the market, are likely to cease operations by the summer with new rules for visa applications, reduced cash flow, and the continued effect of the pandemic combining to take them out. Macau has 18 satellite casinos in total with14 of these operating as…

China – Macau’s six casino operators given six month extension

Lei Wai Nong, Macau’s Secretary for Economy and Finance, has confirmed that Macau’s six casino licence holders will see their concessions extended to December 31 2022, to allow more meetings to take place. Speaking to the media, Mr. Lei said: “We have notified the gaming operators to prepare for the extension application. We still have…

China – Opening costs for Grand Lisboa Palace added to pandemic woes widens SJM’s loss

Having opened Grand Lisboa Palace on Macau’s Coati Strip, Macau operator SJM Holdings saw its net gaming revenue edge up to HK$9,608m in 2021, as compared with HK$7,304m for the year of 2020. This led to a loss attributable to owners of the company was HK$4,144m, as compared with a loss HK$3,025 million for the…

China – Sands to surge past 2019 EBITDA levels by next year

Brokerage firm Sanford C. Bernstein believes Macau operator Sands China will surpass its 2019 EBITDA of US$3.3bn next year with EBITDA reaching US$5bn by 2025. Bernstein analyst Vitaly Umansky said: “Sands China is the largest gaming investor in Macau, having invested US$14.5bn over the last 20 years and holding over 30 per cent market share. With…

China – MGM turns things around in Macau with 85 per cent increase in 2021

During the Year, MGM China‘s net revenue soared by 85 per cent to approximately HK$9.4bn. The Group had a turnaround to an adjusted EBITDA of approximately HK$390m, compared to a negative adjusted EBITDA of HK$1.4bn in 2020. Despite the ongoing impact of the COVID-19 pandemic in 2021, Macau has been seeing a gradual recovery. The city recorded a 31 per cent…

China – Shares fall in Macau Legend Development as former CEO arrested

Shares in Macau Legend Development have fallen to their worst ever low following the arrest of its former Chief Executive Officer as part of a continuing investigation into junket operations in Macau. The company’s share price dropped by 19 per cent after the operator said Chan Weng Lin had been arrested by police and had…

Macau – Macau’s existing operators praise bill now published by Macau’s Legislative Assembly

Macau’s Legislative Assembly has now published the draft bill amending its casino laws prior to launch of the re-tendering of Macau’s six casino licenses. The language of the bill states that bidding companies must ‘prepare a plan to promote responsible gambling’ and ‘adopt measures that allow the public, including tourists, to have sufficient information for…

China – Macau keeps number of license holders at six but axes junkets and satellites

In the biggest overhaul of Macau’s gaming laws in 20 years, the number of casino licence holders will be kept at six, but the length of the licences will be halved to 10 years. The bill, which has needed a 45-day public consultation period, will now go to the legislature for approval before it becomes…