Tag Archives: Macau
China – Macau’s revenues drop by more than half in second quarter
Revenues at Macau’s casinos fell by 52 per cent quarter to quarter during the second quarter of the year coming in at $1.03bn, according to data published by the Gaming Inspection and Coordination Bureau (DICJ). Five casinos closed during the period due to new laws on satiliette licences taking the region’s total down to 37. Following…
China – Macau’s mass market to dip to 30 per cent of 2019 revenue levels
With Macau’s casinos being forced to close for at least another five days to stop the spread of COVID, the SAR’s Secretary for Administration and Justice, André Cheong Weng Chon, has confirmed that a longer ‘consolidation period’ was set to be enforced. Moody’s Investors Service has already moved to slash mass market revenue for the…
China – Macau shuts its casinos as COVID takes hold again
Macau’s casinos are now shut again with COVID cases in the SAR spiking. The Government has officially ordered the closure of all commercial and industrial businesses for the next week, with limited exceptions for “essential services.” Secretary for Administration and Justice, André Cheong Weng Chon said: “Supermarkets will continue to open, and daily necessities for…
China – Surto de COVID fará disparar as receitas de Macau
A COVID outbreak in Macau has seen analyst Sanford C. Bernstein drop its June forecast for GGR which is now expected to be 91 per cent less than June 2019 with average daily revenue (ADR) down 31 per cent on May 2022. Prior to the outbreak which is now believed to have affected 36 people…
Macau: Arresting the fall
Rui Pinto Proença, Managing Partner of MdME, an international law firm with offices in Macau, Hong Kong and Lisbon, will discuss the market freefall taking place in Macau at the IAGA Summit in Boston. Summarising the debate, Mr. Proença outlines the difficulties facing the former ‘darling of the gaming industry.’ Once the world’s largest casino…
China – Melco anuncia lançamento da Super Fun Zone no Studio City promovendo a diversificação económica em Macau
Promovendo a diversificação económica em Macau, a Melco tem o prazer de anunciar o lançamento da Super Fun Zone no Studio City. Com inauguração prevista para o final de junho de 2022, Super Fun Zone é a nova experiência de entretenimento familiar que complementará ainda mais as ofertas de hospitalidade do divertido Studio City. Os 29,600 pés quadrados da Super Fun Zone…
China – Golden Dragon to close four satellite casinos
Macau’s Golden Dragon Group will shut four of its satellite casinos by the summer amid claims that such operators feel ‘hopeless towards the future.’ The four casinos are part-owned by former legislator Chan Meng Kam. Casino Golden Dragon, Royal Dragon and Casino Million Dragon all operate via a gaming licence held by SJM Holdings whilst…
China – Sete casinos satélite poderão fechar em Macau este verão
Sete casinos satélite em Macau, o que equivale a cerca de 40 por cento do mercado, deverão cessar as operações até ao verão com novas regras para pedidos de visto, fluxo de caixa reduzido e o efeito contínuo da pandemia combinando-se para eliminá-los. Macau tem 18 casinos satélite no total, 14 deles operando como…
China – Macau’s six casino operators given six month extension
Lei Wai Nong, Macau’s Secretary for Economy and Finance, has confirmed that Macau’s six casino licence holders will see their concessions extended to December 31 2022, to allow more meetings to take place. Speaking to the media, Mr. Lei said: “We have notified the gaming operators to prepare for the extension application. We still have…
