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Macau planning financial rules change to allow for ‘digital yuan’ adoption

April 14, 2021

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

In Macau and officials are reportedly preparing to amend the enclave’s financial rules so as to allow for the complete adoption of a digital version of the yuan currency currently being trialled by the governme...

Macau experiences 90% tumble in September gaming revenues

Adam Morgan

October 1, 2020

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

The ongoing coronavirus pandemic is reportedly continuing to negatively impact the 39 casinos in Macau as their aggregated gross gaming revenues for the whole of last month dropped by 90% year-on-year to stand ...

Macau casinos see light at the end of the coronavirus tunnel

Adam Morgan

September 8, 2020

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

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 approximate...

Macau experiences significant decrease in April visitor numbers

Adam Morgan

May 22, 2020

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

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 ...

Macau’s new Chief Executive lays out his future intentions

Adam Morgan

April 20, 2020

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

In Macau and Ho Iat Seng (pictured) reportedly used his maiden official address as the enclave’s new Chief Executive to pronounce that he will continue to push local casino operators to diversify their offering...

Macau casinos told to expect a long road to market recovery

Adam Morgan

April 15, 2020

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

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 ...

Philippines President rejects Chinese request to ban all online gambling

Adam Morgan

September 7, 2019

Latest Casino and Gambling News, Online gambling regulation, Economy/Finance, The Players Lounge, Online Gambling News, Licensing, Philippines

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In the Philippines, President Rodrigo Duterte (pictured) has reportedly rejected a request from authorities in China to ban all online gambling over concerns that doing so may harm his nation’s fragile economy....

Philippines regulator issues pair of new iGaming licenses

Adam Morgan

August 26, 2019

Latest Casino and Gambling News, Gaming Law & Legislation, Online gambling regulation, Economy/Finance, The Players Lounge, Online Gambling News, Licensing, Philippines

The state-run Philippine Amusement and Gaming Corporation (PAGCor) regulator has reportedly issued licenses to a pair of online gaming operators less than a week after implementing a temporary freeze on the pro...

Macau getting new Beijing-backed Chief Executive in Ho Iat Seng

Adam Morgan

August 26, 2019

Latest Casino and Gambling News, Gaming Industry News, Licenses, Macau

In Macau and local businessman Ho Iat Seng (pictured) has reportedly been selected to replace the outgoing Fernando Chui Sai On and serve as the former Portuguese enclave’s third ever Chief Executive. Accord...

China to intensify crackdown on illegal online gambling activities

Adam Morgan

August 8, 2019

Latest Casino and Gambling News, Online gambling regulation, China, Money Laundering, Illegal Bookmaking, The Players Lounge, Unlicensed Operation, Online Gambling News, Crime, Financial Fraud

Chinese law enforcement authorities are reportedly set to step up efforts at combating illegal cross-border online gambling as well as the underground banks and payment platforms that allow aficionados in the g...

Macau supporting visa-free Hengqin Island visitation plan

Adam Morgan

May 2, 2019

Latest Casino and Gambling News, Gaming Law & Legislation, Casino News, China, New Hotels, Gaming Industry News, Macau

Officials in Macau are reportedly partnering with their counterparts from neighboring Hengqin Island in order to lobby Beijing for the right to introduce a visa-free regime for foreign tourists wishing to trave...

Suncity Group Holdings Limited acquires controlling stake in Russian casino operator

Adam Morgan

April 24, 2019

Latest Casino and Gambling News, Economy/Finance, Mergers, Acquisitions & Partnerships, Russia

Asian junket operator, Suncity Group Holdings Limited, has reportedly announced the completion of a deal that has seen it pay approximately $91.5 million in order to acquire a controlling stake in Russian casin...

Macau cracking down on illicit currency exchange activities

Adam Morgan

February 27, 2019

Latest Casino and Gambling News, Money Laundering, Economy/Finance, Macau, Crime, Racketeering, Financial Fraud

The highest ranking security official in Macau has reportedly announced that some 3,050 foreigners had been arrested either inside or near a casino last year on suspicion of being involved in illegal currency e...

New currency rules may negatively impact Macau casinos

Adam Morgan

February 16, 2019

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

The local branch of global brokerage firm Sanford C Bernstein and Company has reportedly detailed that it is still too early to tell what impact recently-tightened foreign currency transaction rules will have o...

American casino operators to face possible challenges in Macau

Adam Morgan

January 15, 2019

Latest Casino and Gambling News, Economy/Finance, Licenses, Macau

In Macau, a slowing economy alongside the prospects of a heightened trade war between the United States and China could reportedly lead to significant challenges for the three foreign gambling firms that operat...