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
SJM Holdings’s profit attributable to the company’s owners fell by 44.1 per cent year-on-year to HK$561 million in the first quarter, the gaming operator said in a statement on Tuesday. The company’s gaming revenue decreased by 22.8 per cent to HK$11.02 billion, while adjusted EBITDA dropped by 32.5 per cent to HK$838 million. According to the statement, … Continue reading "Macau gaming operator SJM profit falls 44 per cent in Q1"
4 May, 2016
Macau’s April casino revenue dropped less than analysts estimated in a sign of stabilization as casinos shift their focus to attracting mass gamblers and tourists. Macau´s gross gaming revenue in April decreased 9.5 percent to 17.3 billion patacas (US$ 2.2 billion), according to data from Macau’s Gaming Inspection and Coordination Bureau, marking 23 months of … Continue reading "Macau’s April casino revenue falls 9.5 per cent in April"
3 May, 2016
SJM Managing Director Angela Leong On Kei and Wynn Macau Executive Director Linda Chen said that they believe that Macau’s six gaming operators’ revenue from non-gaming business will exceed nine per cent of their total income by 2020, 2.4 percentage points up from 2014. The government laid down the goal for the city’s gaming operators … Continue reading "SJM and Wynn Macau pledge to meet non-gaming revenue goal"
28 Apr, 2016
Wynn Resorts Macau Executive Director Linda Chen told reporters yesterday she expects gaming industry revenue to stabilise this year and hopes that there will be a slight rebound by the end of the year. Chen made the comments at Wynn Macau where she attended the opening of a business matching session with local small- and … Continue reading "Wynn hopes business will pick up by year-end"
15 Apr, 2016
Macau’s casino revenue fell more than analysts’ predictions last month as mainland gamblers vanished after February’s week-long Chinese New Year holiday. Gross gaming revenue (GGR) decreased 16.3 percent year-on-year to 17.98 billion patacas, the Gaming Inspection and Co-ordination Bureau (DICJ) announced on Friday, marking 22 consecutive months of declines. That compares with the median forecasts … Continue reading "Casino revenue in Macau drops 16.3 pct in March"
5 Apr, 2016
The Galaxy Entertainment Group Ltd. chairman Lui Che-Woo said that the next two phases of the HK$86 billion ($11 billion) Galaxy Macau project will include “something special and high-tech” similar to the movie “Avatar.” Compared with larger theme parks such as Walt Disney Co.’s $5.5 billion Shanghai park that’s due to open in June, “our … Continue reading "Macau casino billionaire plans Avatar-like theme park for Galaxy"
9 Mar, 2016
The gaming sector had 56,217 full-time employees at the end of last year, down by 2.7 percent year-on-year, said the Statistics and Census Bureau (DSEC). The number of croupiers (dealers) fell by 4.4 percent to 24,619, Croupiers accounted for 43.8 percent of all gaming sector employees. The sector employed 14 percent of Macau’s total labour … Continue reading "Gaming jobs in Macau fall 2.7 percent"
8 Mar, 2016
Macau on Tuesday (Mar 1) posted its best monthly gambling revenue performance since October last year and the smallest drop in growth in 20 months as an increase in Lunar New Year tourists boosted the world’s largest casino hub. Macau’s economy, which relies on the casino industry for over 80 per cent of government revenues, … Continue reading "Macau’s gambling revenue growth best in 20 months"
2 Mar, 2016