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Macau
Sunday, September 24, 2017
June gross gaming revenues started slow, as daily revenue registered below analysts’ estimates.
Gaming revenue was 7.2 percent higher in the week ended Sunday than the previous seven days, an RBC Capital Markets analyst says. The casinos took a daily rate of about MOP1.1 billion (US$137.69 million) last week according to analyst John...
Fitch Ratings has lowered its forecast of annual growth in Macau’s casino gross gaming revenue this year to 10 percent from 12 percent because it expects VIP gaming revenue to contract. The rating agency expects VIP gaming revenue to contract...
Melco Crown Entertainment Ltd made a net profit of US$181 million (MOP1.45 billion) in the second quarter of this year, more than twice the US$82.3 million it made a year earlier. Net revenue was up 38 percent to US$1.3 billion. Adjusted...
Even with the registered 9.6 pct decline in gross gaming revenue, analysts believe a return to growth will be evident in June and doubt a total smoking ban will be imposed.
Thailand authorities are not eyeing to open the country to casinos. The government has no plan at this stage to allow construction of Thailand’s first legal casino, Bangkok Post quoted Prime Minister Yingluck Shinawatra as saying. The Thai Government Lottery Office...
The chairman of gaming operator Sociedade de Jogos de Macau (SJM), Ambrose So Shu Fai, said the alleged embezzlement case from L’Arc Macau would not affect the operator’s business. However, he declined to compare the case with the junket...
Do casinos advertise players’ losses? No. So why should they advertise winnings on their websites? The point has been made by the Singaporean government, which is taking steps to stop casinos from publicising won jackpots. “You will find that they never...
Chinese sports lottery operator MelcoLot Ltd. registered a net loss of HK$35.9 million (US$4.47 million) for the whole year of 2015, narrowing the gap by 45.1 per cent from one year ago due to increased revenues and decreased costs. In...
The CEO of MGM China refused to elaborate upon the rumours of a merger between two of the American gaming companies that operate in Macau
May casino gross revenues are likely to climb below analysts’ forecasts. Royal Bank of Canada (RBC) analyst John Kempf wrote in note that gross gaming revenues are expected to increase by between 12 percent and 13 percent, below earlier estimates...
Not our decision. SJM isn’t forcing staff to take unpaid leave, says Ambrose So. The chief executive chose to clarify an internal memorandum that went public.
International Game Technology’s Adrian Marcu named Chair.
The president of marketing strategy of the company said yesterday that the company is feeling the impact of Macau’s declining gaming revenues. At this juncture, however, the goal of the company is to turn SunCity into an international brand
The VIP operation on the island has saved the company from the red for the first six months of the year.
Macau set a new monthly casino gross gaming revenue record in February, according to official data released today. With total revenue of MOP19.86 billion (US$2.36 billion), last month’s casino take beat the previous record of MOP18.88 billion set in December,...
Information compiled by Macau Business indicates that Wynn Macau has performed strongly through the month of November, taking the second spot on the league rankings of market share from Sands China. Steve Wynn’s gaming operator grabbed a 17 percent market...
Linking together over 21,000 lawyers worldwide from over 100 countries, worldwide law firm network Lex Mundi applies strict criteria with a strong focus on technology regarding who it lets in, sharing with clients expertise in gaming, cyber security, data privacy and more
Vietnam’s finance ministry means to present to Prime Minister Nguyen Tan Dung in October the final draft of a decree allowing Vietnamese to gamble in casinos, Bloomberg reports. The news agency quotes finance ministry official Ngo Van Tuan as saying...
The investment bank has advised clients to buy stocks from the four US major casino operators in Macau to profit in the future from the current low prices on offer
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