Tag Archives: Macau
China – Optimism for 2023 despite Macau’s casinos enduring worst revenues in 20 years
Macau’s casino sector generated the lowest amount in a 20 year history of recorded revenues in 2022 with analysts highlighting the Chinese government’s zero-tolerance on COVID as well travel restrictions, and regional lockdowns as contributing factors in the decline. Macau’s Gaming Inspection and Coordination Bureau has confirmed that gaming revenues for the full year declined…
China – Macau provisionally renews licences for six existing operators
The six existing licence holders in the Macau casino sector have had their concessions tentatively renewed with a bid from Genting rejected. The news saw the biggest ever jump in the share prices of the American-based operators Wynn Resorts, MGM and Las Vegas Sands. The new licenses will kick in at the start of 2023…
China – Macau rules out new mega casino projects with investment level set at $12.5bn
Reports out of Portugal are claiming the combined spend needed by casino operators over a ten-year-period in new investments will be set at $12.5bn, a third of what the six current operators have invested over the last decade. It is believed that Galaxy Entertainment Group and Sands China will both invest around US$2.5bn with the…
China – JP Morgan believes electronic visa could ease Macau back to positive EBIDTA by December
JP Morgan believes that the return of electronic applications for travel to Macau with the National Immigration Administration (NIA) is a ‘great boon’ for Macau’s prospects of positive EBITDA within a month. DS Kim said: “This will be a great boon for Macau’s return to normalcy,” Kim said. “In a nutshell, we think the resumption…
China – Sands’ US$61bn spend in Macau and 25,000 employees keeps it in pole position
Morgan Stanley has cast its eye over the Macau casino licence renewal process, stating that Sands China is at least risk of losing its licence having invested the most money, being the biggest employer in the Macau casino sector and generating the largest percentage of non-gaming revenue. Analysts Praveen Choudhary and Gareth Leung highlighted that…
China – Macau to retain its crown as the world’s top-earning casino market
Macau will bounce back as the top revenue-earning gaming market in the world according to Fitch Ratings, who believes GGR will be back at 70 per cent of 2019 levels by 2024 and 90 per cent by 2025. Speaking to Macau Business, Colin Mansfield, the Sector Head for US Gaming, Lodging & Leisure at Fitch Ratings, believes…
China – Macau demands minimum gross income from new concessions
Macau’s Official Gazette has released figures capping the number of gaming tables to 6,000 and gaming machines to 12,000 for new casino concession holders (link to gazette). In addition, the government has set minimum income levels for each operator. The minimum annual limit of gross income to be generated from each gaming table is seven…
Macau – APE and Jumbo deliver new slot products for Cotai casinos
Hong Kong-based Asia Pioneer Entertainment and its distribution partner Jumbo Technology, has brought its D-27 slot cabinet with Long Yi Fa progressive jackpot link Fortune Treasure and Golden Horse Treasure to the gaming floors of Cotai. The D-27 slot cabinet produced by Taiwan-based Jumbo sports 27-inch dual screens and 10.1-inch configurable button touch panels. LED…
China – Macau’s July revenues to fall by 99 per cent
Macau’s casinos were able to reopen at 50 per cent of staff levels on Saturday but the 12-day closure and the continued impact of travel restrictions will see GGR plummet by 99 per cent in July. Revenues for the first 24 days of July was just MOP$200m (US$24.8m). Vitaly Umansky, Louis Li and Shirley Yang, analysts at brokerage…
