Tag / Macau

Mixed financial results for Las Vegas Sands Corporation

American casino giant Las Vegas Sands Corporation has released its financial results for the twelve months to the end of December showing a 2.3% decrease year-on-year in overall revenues to $11.41 billion while its net income fell by some 15.5% to hit $2.02 billion. The Las Vegas-based firm operates casinos in Nevada, Pennsylvania, Singapore and […]

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Wynn Macau 4Q profits down by 27%, revenue up by two thirds

Wynn Macau Limited, the Asian arm of Wynn Resorts Ltd, saw a 26.6% decline in year-on-year profits for the fourth quarter of 2016, according to a recently posted financial report from the company. The drop in profits is reportedly due to costs associated with the launch of the Wynn Palace casino in Cotai, which took […]

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Vietnamese legislation could spell “death knell” for Cambodian border casinos

Last week’s decision by Vietnam to partially lift its long-standing ban on locals gambling at casinos in the Asian nation could reportedly help to spell the “death knell” for numerous border casinos in neighboring Cambodia. According to a report from The Cambodia Daily newspaper, a draft decree published by the Vietnamese government on Friday plans […]

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Macau accelerates locals-first casino hiring deadline

In Macau, the government has reportedly pushed forward by almost three years the deadline to its requirement that at least 85% of all middle and upper-level casino management positions be filled by local residents. According to a report from local television and radio broadcaster Teledifusao De Macau, the locals-first strategy was first announced in September […]

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Success Universe Group Limited warns of three-fold annual deficit

Sports lottery and land-based casino operator Success Universe Group Limited has issued a profit warning to investors advising that its consolidated loss for 2016 could have increased by as much as three-fold year-on-year due to the disappointing performance of its businesses. The Hong Kong-based firm ended 2015 with a deficit of $1.5 million with its […]

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Las Vegas Sands Corporation agrees to $6.96 million federal fine

American casino giant Las Vegas Sands Corporation has reportedly agreed to pay a criminal penalty of $6.96 million in order to end the long-running probe by the United States Department Of Justice into whether it violated a federal anti-bribery law by making payments to a consultant in order to help it do business in China […]

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MGM Cotai opening delayed for a third time

In Macau, the opening date for the giant MGM Cotai has reportedly been pushed back for a third time with operator MGM China Holdings Limited now not expecting to welcome guests to the $3.1 billion hotel and casino project until the second half of 2017. According to a report from G3Newswire, MGM China Holdings Limited, […]

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Macau casino operators premiere 50 new gaming tables

In Macau, Wynn Macau Limited and Sands China Limited have each reportedly been granted permission to operate 25 new live-dealer gaming tables after applying for authorization under the provisions of a government policy announced in the summer. According to a report from GGRAsia, Wynn Macau Limited, which is a subsidiary of American casino giant Wynn […]

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2016 provides record number of visitors to Macau

The Macau Government Tourism Office held an annual press conference this week, which resulted in statistics provided, including the fact that 2016 was a record year for tourists to the area. For 2016, Macau saw a total of 30.95 million visitors, which is an increase of .8% when compared to 2015. Director Maria Helena de […]

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Good year for Macau casino entrepreneurs

After suffering through 26 months of decline, the previous five months have seen the casino market in Macau post improvements in aggregated gross gambling revenues and this has reportedly helped some of the figures behind these enterprises to increase their personal wealth going into 2017. According to the latest Hong Kong’s 50 Richest People list […]

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Good year for Macau casino entrepreneurs

After suffering through 26 months of decline, the previous five months have seen the casino market in Macau post improvements in aggregated gross gambling revenues and this has reportedly helped some of the figures behind these enterprises to increase their personal wealth going into 2017. According to the latest Hong Kong’s 50 Richest People list […]

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New route to Macau announced by Tigerair Taiwan

Beginning in March, travelers in Taichung will have direct access to Macau thanks to a new route provided by Tigerair Taiwan. The budget carrier, a subsidiary of China Airlines of Taiwan, announced yesterday that they would soon launch a service from Taichung to Macau to give passengers in the region a more convenient way to […]

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Security company sues former Beijing Imperial Palace operator

Beijing Imperial Palace hotel in Taipa was closed in July 2016 due to uncorrected health and safety violations after several attempts by the Macau Tourism Office to encourage repairs. Last week the hotel lost its operating license. Now the hotel’s former operator is being sued by Guardforce, a private security company, who claim they are […]

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New survey sheds light on Macau gambling market

A new survey has indicated that gambling remains the main reason most mainland Chinese tourists visit Macau although non-gaming activities are increasingly becoming an important draw factor. According to the proprietary survey of 1,900 visitors conducted by research and brokerage firm Bernstein Research, 50% of tourists to Macau from mainland China travelled alongside a spouse […]

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Sheldon Adelson dismisses libel lawsuit against newspaper reporter

Billionaire casino magnate Sheldon Adelson has reportedly settled a libel lawsuit he had brought against a reporter from The Wall Street Journal newspaper regarding a 2012 article in which he was described as “foul-mouthed”. According to a report from The Wall Street Journal, both sides agreed to dismiss the suit brought in 2013 on Thursday […]

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G2E Asia 2017 set to shine spotlight on gaming and beyond

Global Gaming Expo Asia (G2E Asia) held a press conference on Tuesday at the luxurious Banyan Tree Macau to announce the focus of the exhibition and conference to be held May 16-18, 2017, at the Venetian Macao. G2E Asia has the full support of the Macau government, casino operators and a host of exhibitors. The industry […]

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Gaming expert recommends Macau lower casino tax rates

In Macau, a local gaming expert has reportedly recommended that the government should consider lowering the tax rate on VIP gaming revenues in order to ensure that the city’s casino industry remains competitive with Asian rivals such as Singapore. According to a report from GGRAsia, the advice came from Wang Changbin from the Gaming Teaching […]

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Macau casino workers demonstrate for pay increases

In Macau, about 200 casino workers reportedly held a demonstration on Monday calling for a 5% pay rise and legislation that would allow trade unions to call strikes and better represent their members. According to a report from GGRAsia, the rally was organized by Professionals For Gaming Of New Macau in an attempt to force […]

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Vietnam says Macau still money laundering capital for China

According to this article in the Saigon Times, casinos in Macau remain the primary source of money laudnering for wealthy people from Mainland China. It refers to a report by China’s national bank which estimates that in 2013, over $202…

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Macau casino revenues drop again on continued financial crime woes

Macau Casino Revenues Drop by Christine Duhaime, BA, JD, Certified Financial Crime and Anti-Money Laundering Law Specialist Follow @cduhaime Casino revenues in Macau fell 3.6% in July for the second month in a row, the first such decrease in monthly…

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Is Canada planning to be the next I-gambling worldwide operator?

Is Canada planning to become next worldwide Internet gambling player?

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