Search Results for: "macau"

Digital yuan adoption forecast to benefit Macau’s casino industry

May 20, 2022

Latest Casino and Gambling News, Gaming Law & Legislation, Casino News, Gaming Industry News, Technology, Economy/Finance, Macau

Global investments research firm Sanford C Bernstein Limited has reportedly predicted that China could begin relaxing some of its controls on the movement of cash into Macau if the enclave was to adopt the digi...

Macau gross gaming revenues may suffer amid China visa crackdown

Adam Morgan

May 18, 2022

Latest Casino and Gambling News, Gaming Law & Legislation, Casino News, Gaming Industry News, Economy/Finance, Macau, Taxation

Global investment bank Credit Suisse Group AG has reportedly warned that Macau could see its aggregated gross gaming revenues crash by as much as 20% this year owing to China’s burgeoning crackdown on granting ...

Macau casino operating pair found accountable for junket player deposits

Adam Morgan

May 17, 2022

Latest Casino and Gambling News, Gaming Law & Legislation, Casino News, Gaming Industry News, Economy/Finance, Macau, Mergers, Acquisitions & Partnerships, Fines, Lawsuits & Litigation

The ultimate appellate court for Macau has reportedly found local casino operators MGM China Holdings Limited and Wynn Macau Limited ‘jointly and severally liable’ for nine junket-related deposits. According...

Proposed alterations for Macau’s under-consideration draft gaming bill

Adam Morgan

May 17, 2022

Latest Casino and Gambling News, Gaming Law & Legislation, Casino News, Gaming Industry News, Economy/Finance, Licenses, Macau, Mergers, Acquisitions & Partnerships

In Macau and legislators are reportedly preparing to chuck out a provision within the under-consideration draft gaming bill that would prevent anyone with more than a 5% shareholding in a local casino operator ...

Macau casino operators would benefit from a rumored tax cut proposal

Adam Morgan

May 16, 2022

Latest Casino and Gambling News, Gaming Law & Legislation, Casino News, Gaming Industry News, Economy/Finance, Licenses, Macau, Taxation

American investment bank JPMorgan Chase and Company has reportedly forecast that the over 40 casinos in Macau could boost their earnings by up to 15% a year should the local government decide to decrease the ra...

Wynn Macau Limited provides an update on its Macau development plans

Adam Morgan

May 11, 2022

United Arab Emirates, Latest Casino and Gambling News, Casino proposals, Casino News, Casino expansion projects, Gaming Industry News, Economy/Finance, Licenses, Macau, New York

In the casino hotspot of Macau and Asian casino operator Wynn Macau Limited is reportedly reconsidering whether to carry through with plans to further expand its Wynn Macau and Wynn Palace Cotai developments. ...

April setback for Macau aggregated gross gaming revenues

Adam Morgan

May 2, 2022

Latest Casino and Gambling News, Casino News, Gaming Industry News, Economy/Finance, Macau

The over 40 casinos in Macau reportedly saw their aggregated gross gaming revenues for April decline by over 68% year-on-year to hit a 19-month low of just over $331.19 million. According to a report from GG...

Macau court throws out lawsuit against Las Vegas Sands Corporation

Adam Morgan

May 2, 2022

Latest Casino and Gambling News, Casino News, Gaming Industry News, Licenses, Macau, Mergers, Acquisitions & Partnerships, Fines, Lawsuits & Litigation

In Macau and the Court of First Instance has reportedly thrown out a lawsuit filed by Asian American Entertainment Corporation (AAEC) that had been seeking roughly $12.1 billion in damages from Las Vegas Sands ...

Macau chalks up reduced first-quarter gaming tax revenues

Adam Morgan

April 26, 2022

Latest Casino and Gambling News, Gaming Law & Legislation, Casino News, Gaming Industry News, Economy/Finance, Macau, Taxation

The over 40 casinos in the gambling-friendly enclave of Macau reportedly contributed almost $1.08 billion in aggregated taxes during the first three months of the year including approximately $371.21 million in...

Wynn Macau Limited establishes $7.9 million junket defence fund

Adam Morgan

April 25, 2022

Latest Casino and Gambling News, Gaming Law & Legislation, Casino News, Gaming Industry News, Economy/Finance, Macau, Mergers, Acquisitions & Partnerships, Fines, Lawsuits & Litigation

In Macau and casino operator Wynn Macau Limited has reportedly set aside approximately $7.9 million to defend itself against litigation that may be brought by former customers of local junket firm Dore Entertai...

Macau casino operators potentially facing heavy junket liabilities

Adam Morgan

April 22, 2022

Latest Casino and Gambling News, Gaming Law & Legislation, Casino News, Gaming Industry News, Economy/Finance, Macau, Mergers, Acquisitions & Partnerships, Fines, Lawsuits & Litigation

Global investment bank Credit Suisse Group AG has reportedly warned that the six casino operators in Macau could be on the hook for up to $6.37 billion in aggregated agent claims following the recent demise of ...

Macau lawmakers considering new junket and satellite casino legislation

Adam Morgan

April 21, 2022

Latest Casino and Gambling News, Gaming Law & Legislation, Casino News, Gaming Industry News, Economy/Finance, Licenses, Macau, Mergers, Acquisitions & Partnerships

In Macau and legislation that sets out the future governing of junket providers and satellite casinos reportedly passed its first Legislative Assembly reading yesterday by a 30-to-one vote. According to a re...

Macau aggregated gaming revenues to remain in the coronavirus doldrums

Adam Morgan

April 12, 2022

Latest Casino and Gambling News, Gaming Law & Legislation, Casino News, Gaming Industry News, Economy/Finance, Macau

The over 40 casinos in Macau are reportedly forecast to see their aggregated gross gaming revenues for April fall by as much as 13% month-on-month to something in the region of $395.76 million. According to ...

Macau aggregated gross gaming revenues chalk up a disastrous March

Adam Morgan

April 1, 2022

Latest Casino and Gambling News, Casino News, Gaming Industry News, Economy/Finance, Macau

The many casinos in Macau reportedly saw their aggregated gross gaming revenues for March drop by 55.8% year-on-year to a little over $454.9 million as China continued to enforce a range of coronavirus-related ...

Macau casino operators facing free cash flow to equity run rate crisis

Adam Morgan

March 30, 2022

Latest Casino and Gambling News, Casino News, Gaming Industry News, Economy/Finance, Macau

Some of the largest casino operators in Macau may reportedly start running out of ready cash in as little as three months as China’s crackdown against the spread of coronavirus continues to limit travel to and ...