Topic
News and analysis about the gambling industry in general, and casinos in the Asia-Pacific region specifically. The topic's coverage includes corporate announcements, news and analysis about casinos in the Macau Special Administrative Region (Macau SAR), their offshore investments, expansion plans and business activities, as well as the performance of their stocks wherever they are listed.
The Malaysian group’s arrival will make the race more interesting, with seven operators in the running for the six licences available. The established operators have something to offer, but it is clear that helping Macau meet its diversification goals is the only way to the finish line
The gambling hub’s shortcomings have been exposed as the Covid-19 pandemic has emptied its gaming rooms and Beijing continues its crackdown on capital flight, money laundering and illegal cross-border betting
Anwar said his government’s focus on digital transformation and AI would be enough to push the country forward.
The Macau casino operator announced better-than-expected first-quarter earnings and has set its sights on maintaining its highest ever share of the mass market gaming segment.
Beach erosion has seen three major casinos in Atlantic City pressing the federal and state governments to expedite a sand replenishment project that was supposed to have been undertaken in 2023.
Alejandro Tengco, head of state regulator Pagcor, said Manila is counting on a slew of new integrated resorts and casinos to boost tourist arrivals.
Macau is setting the stage to become a key driver of the Greater Bay Area’s sports sector, as the city looks to tap its tourism strengths and expand its economy beyond the gaming industry, a conference heard.
The SFC warned it may delist two companies formerly headed by Alvin Chau because of concerns about a US$116 million sale of assets in Russia.
Macau casino operator MGM China reported a surge in revenue in the fourth quarter of last year amid a rollback in pandemic-related curbs, and analysts said its financial performance will continue to improve in 2024.
Wynn Resorts, the controlling shareholder of Wynn Macau, beat fourth-quarter profit estimates on stronger gaming, luxury retail and hotel bookings at its Macau and Las Vegas properties.
Large casinos dominate Malaysia’s domestic gambling scene, but clubs with so-called jackpot machines are where player addiction quietly pervades, observers say.
Former Suncity Group CEO asks Chinese president for ‘fair trial’ after being sentenced alongside 12 others over losses of HK$8.2 billion in tax revenue.
Macau casino operator MGM China Holdings is renovating its properties and adding spaces for arts and cultural experiences as part of its commitment to help diversify the city’s economy.
The company plans to expand gaming tables and step up international sales to drive growth after reporting a net profit of US$85.8 million in the second quarter.
Casino magnate agreed to pay a US$10 million fine and will be banned from Nevada’s gambling industry to resolve a sexual misconduct complaint.
Agents said buyers are snapping up residential units and tourist accommodation in Osaka, where a casino resort is expected to open in 2029.
Sands China reported its first quarterly profit since the end of 2019, ending cumulative losses of US$4.16 billion. A full recovery is just a question of time, analyst says.
The establishment of new gaming centres would pose a major challenge for Macau, the world’s largest gambling hub which has gaming revenue six times that of the Las Vegas Strip.
The towns of Shwe Kokko and Lay Kay Kaw in Myanmar host gambling and entertainment complexes developed by Chinese investors that are accused of being centres for drug and human trafficking.
With the potential for Thailand and the UAE to legalise casinos in coming years, operators are seeking to get a head start.
The return of mainland Chinese tourists boosted Macau casino revenues to 15.6 billion patacas (US$1.93 billion) in May, more than four times what they earned a year ago.
Song Hayan was sentenced to six months’ jail after pleading guilty to one charge of theft.
Casino operator posts first-quarter revenue of HK$7.05 billion (US$901.8 million) versus HK$4.1 billion a year ago, with chairman Lui Che-woo saying new facilities will create 900 jobs for Macau residents.
Technology and collaboration are crucial factors to help Macau diversify its economic base, say its chief executive Ho Iat-seng, Guangdong governor Wang Weizhong, Alibaba’s Joe Tsai and commentator Andrew Sheng.
Macau’s casino industry is caught off guard by the massive influx of tourists from a newly-reopened China, as a dire labour shortage has the gaming hub scrambling to satiate demand.
The five-day Labour Day holiday earlier this month is the best season that Macau has had in three years. About 500,000 visitors flocked to the city during the holiday, with many heading straight to the casinos.
Alidad Tash has a database of every film he’s seen since 1990, and an Excel sheet of his kids’ movie watching. He tells Ed Peters about growing up in Iran under the shah, and the role of chance in his life.
Thai police are also investigating claims that government officials had known about the casino’s existence but turned a blind eye after taking more than US$58,000 in bribes.
Authorities are keen on building upon Macau’s historical links to Portugal as a means to bolster the region’s economy without depending solely on the 170-year-old gaming sector.
Levo Chan, a former chairman and executive director of entertainment firm Tak Chun Group, among five jailed in junket crackdown.