Tag Archives Macau

Junket boss acquires significant stake in Macau Legend Development Limited

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In Macau and an entity controlled by local businessman Chan Weng Lin (pictured) has reportedly paid approximately $173 million in order to purchase a 20.65% stake in Asian casino operator Macau Legend Development Limited. According to a report from GGRAsia, the acquisition was carried out by the junket entrepreneur’s British Virgin Islands-registered Perfect Achiever ...

Macau gaming tax revenues being hit by coronavirus slowdown

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The government of Macau has reportedly announced that the city’s 39 casinos handed over almost $76.82 million in aggregated gaming taxes for August to take their combined eight-month reckoning to just above $2.85 billion. According to a report from Inside Asian Gaming citing official data from the enclave’s Financial Services Bureau, the August figure ...

Macau casinos see light at the end of the coronavirus tunnel

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The 39 casinos in Macau could have reportedly begun to emerge from their very long coronavirus-induced downturn after recently recording a significant improvement in aggregated average daily rate to approximately $10.39 million. According to a report from GGRAsia citing a filing from international brokerage Sanford C Bernstein Limited, the figure for the first six ...

Macau casinos record disappointing August gaming revenues

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The 39 casinos in Macau reportedly continued to be negatively impacted by the coronavirus pandemic last month as their aggregated gross gaming revenues decreased by 94.5% year-on-year to stand at just over $166.61 million. According to a report from Inside Asian Gaming citing official information from the enclave’s Gaming Inspection and Coordination Bureau regulator, ...

PokerStars announces iGaming exit from China, Macau and Taiwan

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As part of an ongoing effort to improve its compliance standards, giant online casino and sportsbetting operator Flutter Entertainment has reportedly announced the exit of its PokerStars iGaming brand from China, Macau and Taiwan. According to a Monday report from CalvinAyre.com, the London-listed firm declared that the move is part of a company-wide campaign ...

iSoftBet’s new slot Macau High Roller offers players “two ways to play”

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Take your slot play to the next level in iSoftBet‘s latest title Macau High Roller, where players are transported to the posh VIP lounges of Asia’s foremost gaming destination. The 3-reel, 5-row game is the most recent addition to the London-headquartered online and mobile casino software provider’s growing stable of slots, delivering a taste ...

China to begin issuing Macau travel visas from August 26

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Government officials in mainland China have reportedly announced that they are to once again begin allowing residents of Guangdong Province to visit Macau utilizing Individual Visit Scheme (IVS) and group travel visas from August 26. According to a report from Inside Asian Gaming, China’s National Immigration Administration additionally revealed that both of these facilities ...

Macau to partially revive IVS facility for Chinese visitors from Wednesday

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The long drought of Chinese tourists entering Macau could soon reportedly be coming to an end following news that local officials have decided to partially revive the Individual Visit Scheme (IVS) for mainland visitors. According to a report from Inside Asian Gaming, the IVS system was initiated in 2003 and had eventually allowed residents ...

Wynn Macau Limited experiences second-quarter disappointment

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Asian casino operator Wynn Macau Limited has reportedly released its unaudited financial results for the second quarter showing that it experienced a drop of 98.2% year-on-year in overall operating revenues to just $20.6 million. According to a report from Inside Asian Gaming, the Hong Kong-listed firm used an official filing to detail that its ...

Macau second-quarter aggregated earnings shortfall expected to top $1 billion

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The lingering impacts of the coronavirus pandemic will soon reportedly prompt the six licensed casino operators in Macau to detail combined second-quarter deficits in earnings before interest, tax, depreciation and amortization of over $1 billion. According to a report from Inside Asian Gaming, this is the forecast of global brokerage and investments firm Morgan ...

Macau records lacklustre June aggregated gross gaming revenues

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The 39 casinos in Macau reportedly saw their aggregated gross gaming revenues for June drop by almost 97% year-on-year to just over $89.69 million due in large part to the impact of ongoing coronavirus-related travel restrictions. According to a report from Inside Asian Gaming citing official information from the enclave’s Gaming Inspection and Coordination ...

US commercial casinos see new growth in 2019; beating out Macau and Philippines

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The American Gaming Association has provided their yearly State of the States report, showing that the United States commercial casino gaming industry earned $43.6 billion last year. This was a solid 3.7% increase from 2018. As the report was released, analysts couldn’t help to consider the Covid-19 pandemic and how the 2020 report will ...

Recovery in Macau aggregated gross gaming revenues remains elusive

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Travel restrictions implemented to help stop the spread of coronavirus were reportedly largely to blame as Macau recorded a 93.2% year-on-year decrease in aggregated gross gaming revenues for last month to just $220.94 million. According to reports from GGRAsia and Inside Asian Gaming citing official figures from the enclave’s Gaming Inspection and Coordination Bureau, ...

Macau experiences significant decrease in April visitor numbers

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Ongoing border restrictions put in place to help combat the coronavirus pandemic have reportedly helped to push Macau’s visitor numbers for last month down by 99.7% year-on-year to only 11,041. According to a report from Inside Asian Gaming citing official information from the enclave’s Statistics and Census Service, this tally represented a 94.8% decline ...

Macau being advised to look towards iGaming for coronavirus relief

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In Macau and a prominent local academic has reportedly suggested that the enclave could help to mitigate some of the adverse consequences of the recent coronavirus pandemic by legalizing online gambling. According to a report from Inside Asian Gaming, Zhonglu Zeng is a professor at the Macao Polytechnic Institute’s Gaming Teaching and Research Centre ...