Wynn Resorts Chairman & CEO Steve Wynn said on Wednesday that his US$4.2 billion Wynn Palace would cater for everybody, but suggested that those looking for theme parks visit Hengqin Island. Wynn made the comments during a press conference at Wynn Palace in Cotai which officially opens on Monday night. “Our strategy of the hotel … Continue reading "Wynn bets on ‘luxury for all’ at Macau Wynn Palace"
18 Aug, 2016
MGM Resorts International has acquired more shares in its Macau unit in a deal valued at about US$325 million with Pansy Ho Chiu King, who will add to her stake in the Las Vegas-based parent company. According to a statement by MGM China Holdings to the Hong Kong Stock Exchange on Tuesday, MGM Resorts International … Continue reading "MGM lifts Macau stake in US$325 million deal with Pansy Ho"
17 Aug, 2016
Wynn Macau announced on Monday that it has got permission from the Gaming Inspection and Co-ordination Bureau (DICJ) to transfer 250 gaming tables from its casino-hotel complex in Nape to Wynn Palace in Cotai. The US gaming company headed by Steve Wynn made the announcement in a statement to the Hong Kong Stock Exchange. According … Continue reading "Wynn Macau to move 250 gaming tables from Nape to Cotai"
16 Aug, 2016
SJM Chairman Ambrose So Shu Fai said that the construction of Grand Lisboa Palace in Cotai was expected to be completed by the end of next year, ready for its official opening in 2018. So made the remarks while speaking to reporters on the sidelines of attending the gaming company’s annual scholarship awards event, which … Continue reading "So says Grand Lisboa Palace to open in 2018 in Macau"
11 Aug, 2016
SJM said in a statement yesterday that it’s gaming revenue decreased by 20.7 per cent to HK$20.88 billion. Total revenue dropped by 20.6 per cent to HK$21.13 billion. Adjusted EBITDA fell by 27.8 per cent to HK$1.63 billion. Profit attributable to the owners of the company decreased by 38.7 per cent to HK$1.09 billion. The company’s … Continue reading "Sociedade de Jogos de Macau casino revenue falls 20.7 per cent"
9 Aug, 2016
Macau’s gross gaming revenue in July recorded a monthly decline of 4.5 per cent, amounting to MOP17.8 billion (US$2.2 billion), according to data released from the Gaming Inspection and Coordination Bureau (DICJ), the city’s gaming regulator. July’s gross gaming revenue fell less than the estimated percentage of 5.5 per cent, as the summer holidays brought more tourists … Continue reading "Macau casino gambling revenue shrinks 4.5 per cent in July"
1 Aug, 2016
Sands China President Wilfred Wong Ying Wai said Tuesday he hopes the government will give the company more gaming tables for The Parisian resort considering how much it has invested in the non-gaming elements there. Wong made the comments while speaking to reporters after announcing at the half-scale replica of the Eiffel Tower in Cotai that The … Continue reading "Sands hopes to get more gaming tables for Parisian in Macau"
27 Jul, 2016
Macao’s gaming revenue in the second half of 2016 will drop from last year’s level at a slower pace, the special administrative region’s financial authorities said on Saturday. A report issued by Macau’s Office of the Secretary for Economy and Finance said the income of the Special Administrative Region (SAR) gaming industry in June reached … Continue reading "Macau’s gaming revenue to drop at slower pace in 2016 H2"
4 Jul, 2016
The construction of MGM China’s casino-hotel resort in Cotai is going smoothly, Pansy Ho Chiu King, co-chairperson and executive director of the gaming company, said, adding she believed it will open in the first quarter of next year. The US-based brokerage Sanford C. Bernstein said last week there was a possibility that the opening of … Continue reading "Pansy Ho says MGM Cotai, Macau, project going smoothly"
29 Jun, 2016
Wynn Macau will open its new integrated resort, Wynn Palace, in Cotai on August 22, the US gaming company said in a statement on Monday. The USD 4 billion (32 billion patacas) property features 1,706 rooms, restaurants, cable car rides around the resort, a water fountain show and a luxury shopping centre, as well as … Continue reading "Wynn Palace to open in Cotai, Macau on Aug 22"
28 Jun, 2016
Macau’s gross gaming receipts fell 9.6 per cent to 18.4 billion patacas (US$2.3 billion), completing a two-year decline, according to data from Macau’s Gaming Inspection and Coordination Bureau released Wednesday. That followed a 9.5 per cent decrease in April and compares with the median estimate of an 8 per cent drop. Macau has been struggling for two … Continue reading "Macau’s casinos revenue fell 9.6 per cent in May"
2 Jun, 2016
Gaming staff have accused the government of leaving them out of the drafting of Macau’s mid-term gaming review. They also call on casino operators to take on more social responsibilities such as providing vocational training and promotion opportunities. Macau’s mid-term gaming review was finally released earlier this month. The long-waited report analyses the strengths and … Continue reading "Casino staff want their opinions heard over mid-term review"
26 May, 2016
The Gaming Inspection and Co-ordination Bureau (DICJ) will start studying before the end of the year whether local dealers – also known as croupiers – should be barred from gambling in local casinos, DICJ Director Paulo Martins Chan said on Wednesday. Chan made the remarks after attending a phone-in programme hosted by Ou Mun Tin Toi, the Chinese-language radio … Continue reading "Macau government contemplates banning dealers from gambling in casinos"
19 May, 2016
The G2E Asia 2016 Conference commenced Tuesday at The Venetian, welcoming over 180 exhibitors, 800 VIPs, and buyers from across the globe. The event’s opening ceremony brought together local government, business organizations, and representatives of the international gaming industry. This year’s exhibition will be highlighting the fast-growing iGaming Zone, which has attracted more than double the … Continue reading "G2E Asia 2016 in Macau highlights iGaming Zone"
18 May, 2016
A gaming expo taking place next week will put more emphasis on non-gaming entertainment to offer gaming operators an alternative way of increasing revenue amidst the challenges they’re facing with gaming revenue, expo organiser Reed Exhibition’s Senior Vice President Josephine Lee Nga Yee said on Thursday. Lee made the comments while speaking to reporters prior … Continue reading "Macau gaming expo to put more focus on non-gaming"
13 May, 2016
Secretary for Economy and Finance Lionel Leong Vai Tac said on Wednesday that the government’s mid-term gaming sector performance report wasn’t related to the renewal of the city’s gaming concessions, but rather to allow gaming operators to see what they can improve on. Leong made the remarks during a press conference on the government’s mid-term evaluation report … Continue reading "Macau’s mid-term gaming report not related to renewal of concessions"
12 May, 2016
Gaming Inspection and Co-ordination Bureau (DICJ) Paulo Martins Chan said on Wednesday that the government will continue its plan to tighten regulation of the junket sector, including raising the initial investment amount. Chan made the remarks during a press conference about the government’s mid-term evaluation report on the gaming sector’s performance. The evaluation was conducted by the … Continue reading "Macau’s gaming regulator vows stricter rules for junkets"
12 May, 2016
Wynn Macau’s net revenues dropped 13.8 per cent year-on-year to US$608.2 million in the first quarter, Wynn Resorts said in a statement in Las Vegas last week. Adjusted property Ebitda decreased 9.9 per cent year-on-year to US$191 million. According to the statement, table game turnover in the VIP segment amounted to US$13.47 billion, a 21.4 … Continue reading "Wynn Macau revenue drops 13.8 per cent in Q1"
9 May, 2016
MGM China’s total revenue dropped 25 per cent year-on-year to HK$3.6 billion in the first quarter, narrowed from the 31 per cent year-on-year decline in the previous quarter, the gaming operator said in a statement on Thursday. According to the statement, adjusted EBITDA fell 23 per cent to HK$995 million. The company’s “business in the quarter was negatively … Continue reading "MGM China revenue drops in Macau 25 per cent in Q1"
6 May, 2016
Australian mogul James Packer’s Crown Resorts has reduced its stake in Melco Crown Entertainment (MCE) from 34.3 per cent to 27.4 per cent for HK$6.2 billion, Hong Kong-based Melco International Development (Melco) announced Wednesday night. According to the deal, MCE has agreed to repurchase 155 million shares from a Crown Resorts subsidiary called Crown Asia … Continue reading "Crown cuts stake in Macau Melco Crown Entertainment for HK$6.2 billion"
5 May, 2016