MGM China revenue rises 26 pct in Q1

MGM China recorded total revenue of HK$4.7billion in the first quarter, a year-on-year growth of 26 percent, the US gaming company said in a statement Thursday.

27 Apr, 2018

Wynn Macau posts two-fold profit gain for first quarter of 2018

Wynn Resorts Ltd.'s financial results for the first quarter of 2018 show that its operating revenue rose more than 20 percent over the same quarter in 2017 to US$1.72 billion (MOP13.87 billion).

26 Apr, 2018

Stanley Ho to retire, Daisy Ho to chair SJM Holdings

Stanley Ho Hung Sun will step down from his flagship casino company SJM Holdings, the company said Thursday, as the 96-year-old mogul hands over the reins to his daughter Daisy. 

13 Apr, 2018

Gaming in Macau generates revenue of US$3.2 billion in March

Gross casino gaming revenues in Macau rose by 22.2% in March to 25.950 billion patacas (US$3.244 billion), according to the Macau Games Inspection and Coordination Bureau (DICJ).

1 Apr, 2018

Agriculture Bank of China opens branch in Macau

The state-owned Agricultural Bank of China (AgBank or ABC), one of the nation’s “Big Four” banks as well as one of the largest banks in the world, opened a branch in Macau Wednesday.

29 Mar, 2018

Galaxy Entertainment Group buy 5.3 per cent of Wynn Resorts

Galaxy Entertainment Group and Wynn Resorts, Limited announced that Galaxy Entertainment has agreed to purchase 5.3 million primary shares of Wynn Resorts at a price of $175 a share, resulting in $927,500,000 of gross proceeds to Wynn Resorts.

24 Mar, 2018

Wynn reports Jan-Feb revenue growth

Wynn Macau property in Nape recorded total revenues of US$418.1 million in the first two months of the year, up 18.8 percent year on year.

9 Mar, 2018

Gaming operators need right mix of clients to stay competitive: analyst

Competition in the local gaming industry is getting tougher as gaming operators are upgrading their facilities and new infrastructure is taking shape, so the winning formula is to strike the right balance between high-end and mass-market customers

8 Mar, 2018

Casino revenue growth slows in February

Macau’s gaming revenue growth rose 5.7 percent to 24.3 billion patacas (US$ 3.03 billion)  in February, the slowest pace since January 2017, the Gaming Inspection and Coordination Bureau (DICJ) said Thursday. 

2 Mar, 2018

Galaxy posts 67 pct rise in 2017 profit

Galaxy Entertainment Group (GEG) said Wednesday that it posted a 67 percent rise in full-year net profit last year.

1 Mar, 2018

SJM profit drops 15.6 pct in 2017

SJM said Wednesday that its profit dropped 15.6 percent to HK$1.96 billion patacas last year, even though its gaming revenue rose 0.1 percent to HK$41.29 billion.

1 Mar, 2018

Government approves extension of horse race concession until 2024

The Macau government has approved an extension of the city’s horse racing concession for a period of 24 years and six months, the Secretary for Economy and Finance, Leong Vai Tac said today.

27 Feb, 2018

The 13 casino expected to open March 31, 2019

Luxury hotel developer The 13 Holdings is planning to open its casino and retail shops by March 31, 2019, according to the company’s latest filing.

27 Feb, 2018

MGM China net revenue rises 3 pct in 2017  

MGM China said in a statement to the Hong Kong Stock Exchange Tuesday that its net revenue rose 3 percent year on year to US$2.0 billion (16 billion patacas) last year. 

21 Feb, 2018

Pansy Ho MGM Cotai

MOP 27 billion MGM Cotai opens in Macau

The casino at MGM Cotai has 177 gaming tables and 982 slot machines catering to the premium mass and mass market. The casino’s VIP lounges will open around the middle of the year.

14 Feb, 2018

MGM COTAI, blending art & high-tech, opens today

Gaming operator MGM China will officially open the doors of its 27-billion-pataca MGM COTAI today, offering the public an innovative blend of art and high-tech.

13 Feb, 2018

Melco explores 2nd phase for Studio City

Melco Resorts & Entertainment Chairman and CEO Lawrence Ho Yau Lung said in a statement Thursday that his company would “continue to explore the phase 2 expansion of Studio City.

9 Feb, 2018

Steve Wynn Resigns From Company Amid Sexual Misconduct Allegations

The casino mogul Stephen Wynn resigned Tuesday as chairman and chief executive of his company, Wynn Resorts, in response to sexual misconduct allegations spanning decades, according to The New York Times.

7 Feb, 2018

MGM to finally open Cotai resort on Tuesday

MGM China will finally open its repeatedly delayed casino-hotel resort in Cotai on Tuesday, in time for Chinese New Year.

7 Feb, 2018

Macau January casino revenue up 36 percent

Gambling revenues in Macau surged in January, posting the largest year on year increase in almost four years.

1 Feb, 2018