Tagged mgm china holdings limited

Macau casino operating pair found accountable for junket player deposits

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 ...

MGM China Holdings Limited chalks up depressed first-quarter financials

Adam Morgan

May 3, 2022

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

Macau casino operator MGM China Holdings Limited has released its unaudited first-quarter financial results showing that its aggregated revenues dropped by 9% year-on-year to approximately $267.57 million. T...

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...

Sands China Limited remaining optimistic despite credit utilization

Adam Morgan

April 5, 2022

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

In Macau and the local Sands China Limited subsidiary of American casino operator Las Vegas Sands Corporation has reportedly announced that it has accessed $201 million from its various credit facilities for ‘g...

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 ...

Net debt of Macau casino operators has quadrupled since 2019

Adam Morgan

March 17, 2022

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

The combined net debt of the six licensed casino operators in Macau has reportedly quadrupled since the start of the coronavirus pandemic in late-2019 to currently stand at more than $20 billion. According t...

Macau casino operators not set to face increase in tax rates

Adam Morgan

March 17, 2022

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

The six licensed land-based casino operators in Macau are to reportedly not be asked to pay any more tax under the provisions of the draft gaming bill currently being considered by legislators. According to ...

Disappointing weekend for Macau casino operators

Adam Morgan

March 15, 2022

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

For the second consecutive weekend and the aggregated value of shares in the six-strong club of licensed Macau casino operators has reportedly dropped significantly owing to a number of factors including the on...

Macau casino operators facing six-month license extension costs

Adam Morgan

March 10, 2022

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

In Macau and every member of the enclave’s six-strong club of licensed casino operators is reportedly being asked to pay at least $6.2 million in order to have their lucrative local gambling concessions extende...

Macau casino operators experience aggregated share price slump

Adam Morgan

March 8, 2022

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

The six-strong club of Hong Kong-listed casino operators in Macau reportedly saw the aggregated value of their shares drop by almost $3.5 billion over the weekend as investors exercised caution regarding the fu...

Macau draft gaming legislation looking to include national security protections

Adam Morgan

March 7, 2022

Latest Casino and Gambling News, Gaming Law & Legislation, Casino News, Gaming Industry News, Licenses, Macau, Fines, Lawsuits & Litigation

Draft gaming legislation currently being debated in Macau could reportedly allow the enclave’s Chief Executive to rapidly terminate any local casino operating license should the holder be found to have breached...