Archivos de etiqueta: 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 – COVID outbreak to send Macau’s revenues spiraling
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…
Macao: detener la caída
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 el lanzamiento de Super Fun Zone en Studio City promoviendo la diversificación económica en Macao
Melco, que promueve la diversificación económica en Macao, se complace en anunciar el lanzamiento de Super Fun Zone en Studio City. Super Fun Zone, cuya inauguración se espera para finales de junio de 2022, es la nueva experiencia de entretenimiento familiar que complementará aún más las ofertas de hospitalidad de Studio City, llena de diversión. Los 29,600 pies cuadrados de Super Fun Zone...
China – Golden Dragon cerrará cuatro casinos satélite
El grupo Golden Dragon de Macao cerrará cuatro de sus casinos satélite para el verano en medio de afirmaciones de que dichos operadores se sienten "desesperanzados ante el futuro". Los cuatro casinos son propiedad parcial del ex legislador Chan Meng Kam. Casino Golden Dragon, Royal Dragon y Casino Million Dragon operan a través de una licencia de juego propiedad de SJM Holdings mientras...
China – Siete casinos satélite podrían cerrar en Macao este verano
Es probable que siete casinos satélite en Macao, que representan alrededor del 40 por ciento del mercado, dejen de operar en el verano debido a las nuevas reglas para las solicitudes de visa, la reducción del flujo de efectivo y el efecto continuo de la pandemia que se combina para eliminarlos. Macao tiene 18 casinos satélite en total y 14 de ellos operan 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…
