Casinos in Macau

Beds & betting

The new Sheraton Hotel on the Cotai Strip.

Macau's hospitality industry has seen fast, vast expansion, but does the new Sheraton Hotel complete a full house, asks Nadine Bateman.

Monday, 17 September, 2012, 1:20pm

Macau rakes in 20pc gain in July gaming revenues

About 63 per cent of Macau's visitors in June - 1.45 million - were from the mainland, an increase of 20 per cent year on year. Photo: AP

Gambling revenue in Macau rose 20 per cent last month from a year earlier, bolstered by growth in the mass gaming market, despite the slowdown in the mainland's economic expansion.

2 Aug 2013 - 3:18am

Galaxy shines from high-stakes play

Galaxy Entertainment's flagship casino resort, Galaxy Macau hotel. The firm is spending HK$16 billion on its next phase of growth. Photo: AFP

Adjusted earnings before interest, taxes, depreciation and amortisation for the quarter to March rose to HK$2.77 billion from HK$2.15 billion a year ago, Galaxy said in a statement. The median estimate of six analysts was HK$2.79 billion.

16 May 2013 - 3:53am

Richard Suen wins US$70m from Las Vegas Sands in Macau dispute

Richard Suen wins US$70m from Las Vegas Sands in Macau dispute

Hong Kong businessman Richard Suen Chi-tat has been awarded US$70 million by a jury in the United States for his help in obtaining a Macau casino licence for Las Vegas Sands more than a decade ago.

29 Aug 2013 - 4:13am

Sands denies Beijing gave help on Macau casino license application

Sheldon Adelson

A lawyer for Las Vegas Sands Corporation said the Chinese government had no part in the awarding of gaming licences in Macau for the casino operator controlled by billionaire Sheldon Adelson more than 10 years ago.

12 May 2013 - 7:55am

Wealthy mainlanders drive Macau casino revenue up 13pc

Sands casino in Macau is developing attractions to appeal to a wider array of visitors. Photo: Reuters

Revenue in the world's largest gaming hub reached 28.3 billion patacas, the second-highest monthly figure this year, after the record 31.3 billion patacas in March.

29 Aug 2013 - 4:13am

Time to repay debt for casino licence, court told

Las Vegas Sands chairman Sheldon Adelson. Photo: AP

Las Vegas Sands owes a middleman for its gaming licence in Macau, which the casino operator's founder and chairman Sheldon Adelson called the "brass ring in the merry-go-round", according to a lawyer for Hong Kong businessman Richard Suen.

5 Apr 2013 - 5:10am

Sands' luck tested as huge suit goes before US court

Gaming brought Macau US$38 billion last year. Photo: Dickson Lee

Las Vegas Sands, the casino operator controlled by US billionaire Sheldon Adelson, faces as much as US$328 million in damage claims at a trial over who helped it win its Macau gaming licence.

4 Apr 2013 - 3:35am

CSCI pins growth hopes on casinos and housing

Sammy Zhou Yong, vice-chairman and chief executive of China State Construction International

CSCI aims to win at least HK$40 billion in new contracts this year, more than its HK$36.8 billion of new contracts in 2012. It hopes to grow its net profit by at least 20 per cent. The Bloomberg consensus estimates the firm's net profit will rise 29.6 per cent to HK$2.76 billion.

22 Mar 2013 - 4:40am

Macau triad kingpin faces expulsion from Canada after wiretap exposé

Lai Tong Sang

Now the Canadian government wants to expel the onetime head of the Wo On Lok triad and his family, 17 years after an immigration blunder allowed him to flee to Vancouver and bring his gang war to the city with him.

2 Mar 2013 - 2:44am

How Macau's gang war spilled over to Vancouver

Wan Kuok-koi, better known as 'Broken Tooth Koi'. Photo: Edward Wong

But on a summer's night in 1997 those worlds collided when triad gunmen sprayed a luxury home on the Canadian city's east side with bullets. The owner of the home and apparent target, Lai Tong Sang, was not hurt.

2 Mar 2013 - 2:45am

Macau casinos' shares fall on lower Lunar New Year revenue

Galaxy Macau Hotel in Macau. Photo: Sam Tsang

Macau casino shares dropped steeply on Tuesday in response to a report from HSBC Global Research that gaming revenues failed to reach its projections for the first 17 days of this month. Shares in SJM led the retreat, falling 5.3 per cent to close at HK$19.32, followed by Galaxy Entertainment, which ended the day down 4.9 per cent at HK$33.15.

20 Feb 2013 - 5:21am

Macau gaming stocks plunge on VIP junket operator crackdown report

Macau gaming stocks plunged after a media report warned of an impending crackdown on VIP junket operators.

Beijing plans to launch late this month a clean-up of "triad-linked junket operators" who make a profit by bringing in mainland high-rollers to casinos in Macau and lending them money, a British newspaper reported, quoting unnamed law enforcement sources as saying.

7 Feb 2013 - 5:54am

Wynn Macau profits slump 18pc

Macau’s casinos are in their pre-Lunar New Year business dip and missed analysts’ forecasts for January revenue growth. Photo: Bloomberg

Wynn's net profit fell to US$196.8 million from US$239.9 million while its competitors Sands China and Galaxy Entertainment saw their profits surge in the quarter on the back of expansion on the Cotai Strip.

2 Feb 2013 - 4:56am

Regional countries eye share of booming gaming industry

Booming gaming industry attracts nations

Investment group Lippo announced last week plans to build a hotel complex in South Korea with casino floors, reflecting the desire of countries in the region to grab a share of Asia's fast-growing gaming industry.

1 Feb 2013 - 5:23am