Tag Archives: Macau
China – Macau’s revenues drop by more than half in second quarter
Revenues at Macau’s casinos fell by 52 per cent quarter to quarter during the second quarter of the year coming in at $1.03bn, according to data published by the Gaming Inspection and Coordination Bureau (DICJ). Five casinos closed during the period due to new laws on satiliette licences taking the region’s total down to 37. Following…
China – Macau’s mass market to dip to 30 per cent of 2019 revenue levels
With Macau’s casinos being forced to close for at least another five days to stop the spread of COVID, the SAR’s Secretary for Administration and Justice, André Cheong Weng Chon, has confirmed that a longer ‘consolidation period’ was set to be enforced. Moody’s Investors Service has already moved to slash mass market revenue for the…
China – Macau shuts its casinos as COVID takes hold again
Macau’s casinos are now shut again with COVID cases in the SAR spiking. The Government has officially ordered the closure of all commercial and industrial businesses for the next week, with limited exceptions for “essential services.” Secretary for Administration and Justice, André Cheong Weng Chon said: “Supermarkets will continue to open, and daily necessities for…
China – COVID outbreak to send Macau’s revenues spiraling
A COVID outbreak in Macau has seen analyst Sanford C. Bernstein drop its June forecast for GGR which is now expected to be 91 per cent less than June 2019 with average daily revenue (ADR) down 31 per cent on May 2022. Prior to the outbreak which is now believed to have affected 36 people…
Macau: Arresting the fall
Rui Pinto Proença, Managing Partner of MdME, an international law firm with offices in Macau, Hong Kong and Lisbon, will discuss the market freefall taking place in Macau at the IAGA Summit in Boston. Summarising the debate, Mr. Proença outlines the difficulties facing the former ‘darling of the gaming industry.’ Once the world’s largest casino…
China – Melco announces launch of Super Fun Zone at Studio City promoting economic diversification in Macau
Promoting economic diversification in Macau, Melco is excited to announce the launch of Super Fun Zone at Studio City. Expected to open at the end of June 2022, Super Fun Zone is the new, family-friendly entertainment experience that will further complement the hospitality offerings of the fun-filled Studio City. Super Fun Zone’s 29,600 square foot…
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…
