Tag Archives: Macau
China – Shrinking junket business is good for Macau’s stability
Brokerage firm Sanford C. Bernstein has given its view on the demise of Macau’s casino junkets with the prediction that between 15 and 30 per cent of junket VIP customers will become premium mass segment players while others will become VIP players for the casino, meaning casinos will make more money from them by cutting…
China – Fitch places Rating Watch Negative (RWN) on Las Vegas Sands and SJM Holdings
Fitch has put a rating of Rating Watch Negative (RWN) on Macau casino operators Las Vegas Sands and SJM Holdings because of the uncertainty surrounding the timings of license re-renewals. Fitch said: “The RWN reflects the material near-term regulatory uncertainty related to gaming concessions in Macau, whose 20-year term is set to expire on 26 June…
Macau – Macau’s junket future dealt severe blow following Alvin Chau arrest
When rumours started to circulate on Friday that authorities in the eastern Chinese city of Wenzhou had issued an arrest warrant for Alvin Chau, Chairman of Suncity Group Holdings and founder of Suncity – Macau’s biggest junket operator – players were reported to have left Macau’s gaming tables in their droves. Following his detention on…
China – Melco celebrates construction milestone with Studio City Phase Two topping out ceremony
Melco Resorts & Entertainment, a leading global developer, owner and operator of integrated resort facilities, today held a topping out ceremony and unveiled the design concept for the highly anticipated Studio City Phase 2, scheduled to complete before end of December 2022. The Ceremony was hosted by Lawrence Ho, Chairman and CEO of Melco Resorts…
China – Hotels less than half full as Galaxy falls by 23 per cent
With hotel occupancy running at 45 per cent, Macau operator Galaxy Entertainment saw a dip in revenues over its third quarter by 23 per cent from the previous quarter but up 176 per cent year on year. Group Net Revenue was $4.3bn, Vs $1.6bn in Q3 2020 and $5.6bn in Q2 2021. Group Adjusted EBITDA…
China – MGM China falls seven per cent from second quarter
MGM China recorded total revenue of approximately HK$2.2bn, down by seven per cent from second quarter. Adjusted EBITDA was approximately HK$101m, down by 13 per cent sequentially. Overall occupancy rate was 50.9 per cent, compared to 65.5 per cent in the previous quarter. for the three months and nine months ended September 30, 2021.Macau market saw a sequential decline…
China – Macau’s DICJ rules that electronic table displays must also show flashing clocks
Macau’s Gaming Inspection and Coordination Bureau (DICJ) is introducing new laws whereby all player screens on electronic table games (ETG) will need to have flashing clocks within two years. The stipulation has already been applied to slot machines as the DICJ looks to prevent problem gambling by allowing gamblers to see how long they have been playing…
China – Sands almost doubles Q3 earnings
Las Vegas Sands generated net revenue of $857m, compared to $446m in the prior year quarter. Operating loss was $316m, compared to $523m in the prior year quarter. Net loss from continuing operations inthe third quarter of 2021 was $594m, compared to $664m in the third quarter of 2020. Consolidated adjusted property EBITDA was $47m,…
China – G2E Asia cancelled again with show planned for August next year
Global Gaming Expo (G2E) Asia, the marketplace for the Asian gaming and entertainment industry, which was due to take place at the Venetian Macao from November 9 to 11 2021 has been postponed to August 30 to September 1 2022 due t the ongoing COVID pandemic.. Traditionally held in May, it has now been three…
