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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 ...
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 ...
Asian casino operator Wynn Macau Limited has reportedly warned investors that it is expecting to record a combined loss of up to $126.1 million in adjusted earnings before interest, tax, depreciation and amortization for the months of April and May. According to a report from Inside Asian Gaming, the Hong Kong-listed firm used an ...
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, ...
One of the key men responsible for transforming Macau into the world’s premiere casino hotspot, Stanley Ho Hung Sun (pictured), reportedly passed away at a Hong Kong hospital early this morning at the age of 98. According to reports from GGRAsia and Inside Asian Gaming, Ho was born in British-controlled Hong Kong in 1921 ...
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 ...
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 ...
The 39 casinos in Macau could reportedly start to recover from the economic impacts of the ongoing coronavirus pandemic from June although it could take up to a further two years for their gaming businesses to record 2019 levels of success. According to a report from Inside Asian Gaming, this is the belief of ...
The first three days of the recent Easter holiday period reportedly saw Macau welcome less than 900 tourists as measures put into place to stop the spread of the potentially-lethal coronavirus pandemic continue to take their toll. According to a report from Inside Asian Gaming citing official figures from the enclave’s Public Security Police ...
Despite recording an almost 80% drop year-on-year in aggregated gross gaming revenues for March and the operators behind the 39 commercial casinos in Macau are reportedly set to be excluded from a coming $1.7 billion economic stimulus program. According to a report from Inside Asian Gaming, the government for the former Portuguese enclave declared ...
The Wynn Macau Limited subsidiary of American casino operator Wynn Resorts Limited has reportedly drawn some $50 million from a revolving $74 million credit facility in an attempt to counter the ongoing financial impacts of the coronavirus pandemic. According to a report from Inside Asian Gaming, the move from the Hong Kong-listed firm was ...
Last month reportedly saw the 39 casinos in Macau record an almost 80% drop year-on-year in aggregated gross gaming revenues to slightly over $658.31 million due in large part to the ongoing impact of the coronavirus pandemic. According to a report from GGRAsia citing official information from the enclave’s Gaming Inspection and Coordination Bureau, ...
The Wynn Macau Limited subsidiary of American casino operator Wynn Resorts Limited has reportedly announced that its board has decided not to pay investors a final dividend on its 2019 financial performance. According to a report from Inside Asian Gaming, the Hong Kong-listed firm used an official filing to reveal that the move is ...
The government of Macau has reportedly halved the city’s coming full-year aggregated gross gaming revenues forecast in light of the negative impacts of the ongoing global coronavirus pandemic. According to a report from GGRAsia, the former Portuguese enclave now expects its 39 active casinos to record aggregated gross gaming revenues for 2020 of approximately ...
The first eight days of March reportedly saw the 39 active casinos in Macau post aggregated gross gaming revenues that were 79% lower year-on-year at approximately $174.9 million. According to a report from Inside Asian Gaming citing a filing from brokerage Sanford C Bernstein and Company, the result puts Macau on course to record ...
In Macau, a leading government official has reportedly detailed that the city has no intention of introducing temporary tax breaks to help local gambling firms recover from the financial impacts of the enclave’s recent 15-day casino shutdown and ongoing coronavirus slowdown. According to a report from Inside Asian Gaming, Lei Wai Nong (pictured) serves ...
In Macau and the Gaming Inspection and Coordination Bureau regulator has reportedly sent letters to every one of the city’s six licensed casino operators asking that they temporarily refrain from implementing staff layoffs. According to a report from Inside Asian Gaming citing an earlier story from the local All In media group, the move ...
The Wynn Macau Limited subsidiary of American casino operator Wynn Macau Limited is reportedly boosting the amount of commission it pays Macau’s many junket operators so as to recover from the downturn in business created by the recent coronavirus shutdown. According to a report from GGRAsia, Wynn Macau Limited is responsible for the 1,000-room ...
In Macau and fears over the highly-contagious coronavirus strain reportedly helped to push the average January occupancy rate for the city’s many three to five-star hotels down by some 14.5% year-on-year to only 78.5%. According to GGRAsia citing official data from the Macao Government Tourism Office, last month’s figure for exclusively five-star properties, which ...
The boss for Asian casino operator Melco Resorts and Entertainment Limited has reportedly declared that it could take ‘quite a long time’ for the gambling industry in Macau to recover from the negative impacts of the recent coronavirus outbreak. According to a report from GGRAsia, Lawrence Ho Yau Lung (pictured) serves as Chairman and Chief ...
In Macau and casinos hoping to re-open following the temporary 15-day coronavirus shutdown will reportedly be required to reduce the number of gaming tables and slots on offer and disperse staff breaks so as to prevent large gatherings of employees. According to a report from GGRAsia, this was the guidance issued yesterday by the ...
The 39 active casinos in Macau will reportedly be allowed to re-open from midnight on Thursday following the conclusion of a 15-day shuttering that was instituted to help stop the spread of the highly-infectious coronavirus outbreak that is currently ravaging neighboring China. According to a report from Inside Asian Gaming, the city’s Economy and ...
A leading brokerage firm has reportedly predicted that an ongoing casino shutdown in Macau could eventually push the city’s aggregated gross gaming revenues for the entirety of February down by as much as 95% year-on-year to around $158.5 million. According to a report from Inside Asian Gaming, this is the opinion of Sanford C ...
The boss for American casino operator Wynn Resorts Limited has reportedly explained that the temporary shutdown of his firm’s two Macau properties is costing the company up to $2.6 million every day. According to the report, the Las Vegas-headquartered company is responsible via its local Wynn Macau Limited subsidiary for the 1,000-room Wynn Macau ...
The casino market in Macau could reportedly recover in the second half of the year so long as the ongoing ‘Wuhan virus’ outbreak can be quickly contained and consumer confidence in neighboring China remains relatively high. According to a report from GGRAsia, this is the opinion of brokerage firm Sanford C Bernstein Limited following ...
