https://www.scmp.com/rss/318752/feed News about the luxury and gaming sectors with a focus on developments in Hong Kong, Macau and China. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Alice Li Alice Li At a shopping centre in Shenzhen’s coastal business district, a store’s entrance feels more like a security checkpoint than a retail gateway. Customers check their bags, don white silk gloves, and pass through a gate. Beyond the checkpoint, which also seems incongruent with the outer facade resembling a typical multi-brand fashion shop, lies a 2,000-square-metre (21,527-sq-ft) showroom. Inside, luxury handbags are not displayed under artful lighting. Instead, they are tightly arranged in... https://www.scmp.com/economy/china-economy/article/3337003/china-shoppers-swap-boutiques-bargains-fuelling-us30-billion-luxury-resale-boom?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3337003/china-shoppers-swap-boutiques-bargains-fuelling-us30-billion-luxury-resale-boom?utm_source=rss_feed Fri, 19 Dec 2025 22:00:08 +0000 Sheena Khemaney Sheena Khemaney Cosy nights at home just got a lot more fun. These sophisticated game sets are a great choice for those looking to spend less time glued to their screens and more time bonding with loved ones. And there’s no need to pack up either. Thoughtfully designed, they double up as decorative home accents when not in use: simply leave them out on your coffee table or living room shelf. Noughts and crosses Jenga Chess Dice https://www.scmp.com/magazines/style/lifestyle/design/article/3335884/4-luxury-game-sets-are-so-stylish-they-double-home-decor?utm_source=rss_feed https://www.scmp.com/magazines/style/lifestyle/design/article/3335884/4-luxury-game-sets-are-so-stylish-they-double-home-decor?utm_source=rss_feed Thu, 11 Dec 2025 22:00:17 +0000 Cheryl Arcibal Cheryl Arcibal Black Spade Capital, the family office of Lawrence Ho Yau-lung, has brought Hong Kong-based iRad Hospital to Macau, with a facility equipped with MRI and CT scan equipment in one of his hotels, to support the gaming hub’s bid to diversify its economy. The 15,000 sq ft facility at Studio City of Melco Resorts & Entertainment, one of six casino concessionaires in the gaming hub, makes it the world’s first integrated resort hospital with MRI and CT equipment. The hospital, which was formally... https://www.scmp.com/business/article/3328073/macaus-studio-city-gets-worlds-first-resort-hospital-mri-and-ct-facilities?utm_source=rss_feed https://www.scmp.com/business/article/3328073/macaus-studio-city-gets-worlds-first-resort-hospital-mri-and-ct-facilities?utm_source=rss_feed Tue, 07 Oct 2025 02:52:13 +0000 Cheryl Arcibal Cheryl Arcibal More affluent buyers are likely to snap up luxury homes in Hong Kong in the coming months, according to agents, as the city’s booming stock market and government policies that attract well-heeled investors boost the outlook for the high-end property segment. “Some ultra-wealthy buyers have earned substantial profits from the stock market over the past six months and are now reallocating part of their capital into the super luxury property segment, taking advantage of relatively low prices,” said... https://www.scmp.com/business/article/3327423/more-affluent-buyers-snap-luxury-homes-amid-hong-kongs-roaring-stock-market?utm_source=rss_feed https://www.scmp.com/business/article/3327423/more-affluent-buyers-snap-luxury-homes-amid-hong-kongs-roaring-stock-market?utm_source=rss_feed Wed, 01 Oct 2025 01:30:21 +0000 SCMP Sport SCMP Sport Hong Kong Jockey Club has achieved another first, being given the highest level of accreditation for responsible betting by the World Lottery Association (WLA) for a fifth time. The club was the first organisation in Asia to be recognised as having reached Level 4 in 2011, and was recertified in 2015, 2018, 2021, and again this year, becoming the first in the region to hit that mark five times in a row. In a statement released on Thursday, the club said the accreditation underscored its... https://www.scmp.com/sport/racing/article/3324343/hong-kong-jockey-clubs-approach-responsible-gaming-again-considered-best-asia?utm_source=rss_feed https://www.scmp.com/sport/racing/article/3324343/hong-kong-jockey-clubs-approach-responsible-gaming-again-considered-best-asia?utm_source=rss_feed Thu, 04 Sep 2025 09:30:09 +0000 Biman Mukherji Biman Mukherji Across India, on any given evening, glowing phone screens flash with gaming apps promising instant riches. But those promises have for too many ended in debt, despair and even suicide, propelling the government to outlaw real-money gaming apps in a bid to stem a crisis officials describe as “spreading like drugs in society”. On August 20, India’s parliament passed the Promotion and Regulation of Online Gaming Bill, a sweeping piece of legislation that bans real-money gaming online. Hosting or... https://www.scmp.com/week-asia/lifestyle-culture/article/3323700/india-bans-drug-real-money-online-gaming-stem-crisis-families-are-breaking?utm_source=rss_feed https://www.scmp.com/week-asia/lifestyle-culture/article/3323700/india-bans-drug-real-money-online-gaming-stem-crisis-families-are-breaking?utm_source=rss_feed Sun, 31 Aug 2025 06:30:08 +0000 Sam Beltran Sam Beltran In the dim glow of his bedroom, Clark* used to spend up to 18 hours a day gambling, his world distilled to the spinning reels and flashing lights of online betting apps. What began as casual wagers – just a few hundred pesos here, a thousand there – quickly escalated. One day, Clark placed a 7,000-peso (US$120) bet that, in a dizzying stroke of fortune, ballooned into 1.7 million pesos (US$30,000). With that huge win, he thought his luck had changed. Instead, it marked the beginning of a... https://www.scmp.com/week-asia/lifestyle-culture/article/3320499/inside-philippines-online-gambling-epidemic-its-worse-pogos?utm_source=rss_feed https://www.scmp.com/week-asia/lifestyle-culture/article/3320499/inside-philippines-online-gambling-epidemic-its-worse-pogos?utm_source=rss_feed Mon, 04 Aug 2025 00:00:11 +0000 Salina Li Salina Li The 13 Hotel, touted as one of the world’s most expensive hotels, has been acquired for HK$600 million (US$76.43 million) by an unidentified investor in Macau, the city’s first such property transaction in eight years. The sale of the 22-storey lodging in Macau’s southernmost district of Coloane concluded a five-year search for a buyer, Savills Macau managing director Franco Liu said on Wednesday. The acquisition was Macau’s first hotel transaction since the fourth quarter of 2017, according to... https://www.scmp.com/business/article/3315826/macau-luxury-property-13-hotel-sells-hk600-million-local-buyer?utm_source=rss_feed https://www.scmp.com/business/article/3315826/macau-luxury-property-13-hotel-sells-hk600-million-local-buyer?utm_source=rss_feed Wed, 25 Jun 2025 13:17:20 +0000 Resty Woro Yuniar Resty Woro Yuniar The potential legalisation of gambling in Indonesia has resurfaced as a means for higher state revenue, but opponents argue the activity risks fraying the cultural fabric of the world’s largest Muslim-majority nation. Lawmaker Galih Kartasasmita floated the idea during a meeting with the finance ministry on May 8, where he said Indonesia should follow the footsteps of the United Arab Emirates, which legalised gambling last year. “The UAE is ready to run a casino, [an] Arab country [finally] runs... https://www.scmp.com/week-asia/economics/article/3314351/indonesia-ready-roll-dice-casinos-risk-social-costs?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3314351/indonesia-ready-roll-dice-casinos-risk-social-costs?utm_source=rss_feed Sun, 15 Jun 2025 07:00:07 +0000 Peggy Sito Peggy Sito Macau’s licensed integrated resorts will emerge stronger with the closure of 11 satellite casinos in the city, as gambling activities are expected to shift to the casinos’ main properties and bolster their profit margins, according to analysts. The shares of the three casino operators affected by the move advanced after the closures were announced on Tuesday. The move affected 11 casinos licensed by Macau’s concessionaires but operated by third parties, down from as many as 21 in 2022 before the... https://www.scmp.com/business/companies/article/3313817/macau-seeks-economic-diversification-11-satellite-casinos-cease-operations?utm_source=rss_feed https://www.scmp.com/business/companies/article/3313817/macau-seeks-economic-diversification-11-satellite-casinos-cease-operations?utm_source=rss_feed Tue, 10 Jun 2025 06:49:49 +0000 Salina Li Salina Li A Macau conglomerate is targeting Hong Kong’s affluent retirees with a new luxury senior housing project in the Greater Bay Area, capitalising on a shortage of high-end retirement options for the city’s affluent retirees. “There is a lack of high-quality lifestyle retirement [options] in Hong Kong,” said Amber Li, founder of Serensia Woods, a 135,000-square-metre (1.45 million sq ft) retirement community in Zhuhai’s Hengqin district. The community, on an island largely in the Guangdong city... https://www.scmp.com/business/article/3313492/macau-firm-bets-luxury-senior-living-zhuhai-attract-affluent-hong-kong-retirees?utm_source=rss_feed https://www.scmp.com/business/article/3313492/macau-firm-bets-luxury-senior-living-zhuhai-attract-affluent-hong-kong-retirees?utm_source=rss_feed Sun, 08 Jun 2025 01:30:14 +0000 Peggy Sito Peggy Sito A shortage of hotel rooms is hindering Macau’s growth, and further policy breakthroughs to facilitate the development of nearby Hengqin Island – three times the size of Macau – are needed to solve the problem, according to the chairman of Galaxy Entertainment Group. “As Macau shifts towards a more mass-market and event-focused model, the question of hotel rooms must be addressed,” said Francis Lui Yiu-tung in a briefing with Hong Kong reporters on Monday. With visitor arrivals growing, demand... https://www.scmp.com/business/companies/article/3312768/macaus-galaxy-boss-hotel-shortage-must-be-addressed-hengqin-island-policy?utm_source=rss_feed https://www.scmp.com/business/companies/article/3312768/macaus-galaxy-boss-hotel-shortage-must-be-addressed-hengqin-island-policy?utm_source=rss_feed Mon, 02 Jun 2025 11:30:08 +0000 Aidyn Fitzpatrick Aidyn Fitzpatrick Poly Culture Group Corporation partnered with casino operator MGM to open the 2,000-square-metre Poly MGM Museum last November, with a launch exhibition on the Maritime Silk Road featuring some 230 artefacts from 20 international museums and galleries. Until late last month, the display included four of the famed bronze zodiac heads from Beijing’s Old Summer Palace. It’s a culture-forward move by both parties, Poly Culture Group being the art and antiques unit of a vast Chinese state-run... https://www.scmp.com/special-reports/article/3309202/macaus-poly-mgm-museum-draws-huge-crowds-hi-tech-maritime-silk-road-exhibition?utm_source=rss_feed https://www.scmp.com/special-reports/article/3309202/macaus-poly-mgm-museum-draws-huge-crowds-hi-tech-maritime-silk-road-exhibition?utm_source=rss_feed Tue, 13 May 2025 22:15:07 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong’s Tsim Sha Tsui district commanded the most expensive rental fees among the world’s retail markets last year, as luxury brands from Cartier and Dior to Tiffany kept their flagship stores running on the Kowloon peninsula, according to Savills. Prime retail rent in TST, as the area is called, was £17,132 (US$22,976) per square metre per annum in the fourth quarter, according to Savills’ report. That was 9.6 per cent higher than New York’s Madison Avenue, at £15,559 per sq m per year, and... https://www.scmp.com/business/article/3308390/hong-kongs-tsim-sha-tsui-worlds-top-high-street-beating-madison-avenue-bond-street?utm_source=rss_feed https://www.scmp.com/business/article/3308390/hong-kongs-tsim-sha-tsui-worlds-top-high-street-beating-madison-avenue-bond-street?utm_source=rss_feed Tue, 29 Apr 2025 23:30:08 +0000 Cheryl Arcibal Cheryl Arcibal Touted as one of the world’s most expensive hotels, The 13 Hotel and Casino in Macau has been put up for sale again by its creditors, as a tourism boom looks to lift overall business in the world’s largest gaming hub. Formerly owned by Hong Kong businessman Stephen Hung who appeared on the Netflix show Bling Empire, the 22-storey lodging located in Macau’s southernmost district of Coloane was estimated to be worth HK$2.4 billion (US$309 million) last year when it was first launched for... https://www.scmp.com/business/article/3307143/macaus-most-opulent-lodging-13-hotel-and-casino-sale-again?utm_source=rss_feed https://www.scmp.com/business/article/3307143/macaus-most-opulent-lodging-13-hotel-and-casino-sale-again?utm_source=rss_feed Sun, 20 Apr 2025 01:30:24 +0000 Change is afoot in our sister SAR. Last December, outgoing chief executive Ho Iat-seng said Macau was “shifting away from a gaming dominated economy”, while neglecting to mention that his administration derived 80.5 per cent of its revenue from casino taxes. Earlier this month, Lawrence Ho, chairman and CEO of Melco, one of Macau’s six casino operators, suggested that the city was “no longer just a ‘gambling hub’”. But if Macau is no longer a place where baccarat is king and sic bo dice tumble... https://www.scmp.com/special-reports/article/3304201/casino-city-cultural-centre-how-macau-betting-art?utm_source=rss_feed https://www.scmp.com/special-reports/article/3304201/casino-city-cultural-centre-how-macau-betting-art?utm_source=rss_feed Sat, 29 Mar 2025 04:45:08 +0000 Cheryl Arcibal Cheryl Arcibal One in every 176 Hongkongers is estimated to have a net worth of more than US$10 million, making the city the world’s 10th largest wealth hub last year, according to a report from Knight Frank. There were an estimated 42,715 high-net-worth individuals (HNWIs) in Hong Kong last year, making up around 0.6 per cent of the city’s population of 7.53 million, according to the Census and Statistics Department. With an estimated 2.34 million HNWIs in the world, Hongkongers made up about 2 per cent of... https://www.scmp.com/property/article/3301202/hong-kong-still-among-worlds-top-wealth-hubs-according-knight-frank-report?utm_source=rss_feed https://www.scmp.com/property/article/3301202/hong-kong-still-among-worlds-top-wealth-hubs-according-knight-frank-report?utm_source=rss_feed Wed, 05 Mar 2025 12:34:16 +0000 Thailand has proposed tough entry requirements for local punters in casinos as it plans to build a major gaming industry to boost tourism, according to a new draft regulation that could dent investor interest. Thai nationals must have at least 50 million baht (US$1.5 million) in fixed deposits for at least six months to be able to enter casinos, according to the draft issued on Monday by the Office of the Council of State, which governments consult on legal issues, policy and appointments. The... https://www.scmp.com/news/asia/southeast-asia/article/3299065/no-better-korea-thailand-eyes-us15-million-minimum-local-casino-gamblers?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3299065/no-better-korea-thailand-eyes-us15-million-minimum-local-casino-gamblers?utm_source=rss_feed Tue, 18 Feb 2025 01:20:04 +0000 Peggy Sito Peggy Sito In the third part of our series on Macau’s integrated resort operators, Peggy Sito looks at how Galaxy Entertainment Group’s new chairman Francis Lui is forging partnerships with global hotel chains and building non-gaming facilities to help lead Macau towards economic diversification. Read the previous instalments on Wynn and Sands China. The late afternoon sun had sunk into early twilight before Francis Lui Yiu-tung could extract himself from several back-to-back planning meetings to conduct... https://www.scmp.com/business/companies/article/3298733/how-galaxys-new-hands-boss-building-macaus-holistic-next-phase?utm_source=rss_feed https://www.scmp.com/business/companies/article/3298733/how-galaxys-new-hands-boss-building-macaus-holistic-next-phase?utm_source=rss_feed Sat, 15 Feb 2025 02:00:20 +0000 Many Thais still disapprove of the government’s plan to allow investments in casinos and the legalisation of online gambling as Prime Minister Paetongtarn Shinawatra sought to assure citizens the initiative would bring economic benefits. About 59 per cent of respondents said they disagreed with investments in both casinos and so-called entertainment complexes in Thailand, according to the January 20-21 survey by the National Institute of Development Administration, also known as Nida. About 29... https://www.scmp.com/news/asia/southeast-asia/article/3296320/thailands-plan-legalise-casinos-opposed-most-citizens-poll?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3296320/thailands-plan-legalise-casinos-opposed-most-citizens-poll?utm_source=rss_feed Sun, 26 Jan 2025 06:56:24 +0000 Reuters Reuters Thailand’s political heavyweight Thaksin Shinawatra believes Southeast Asia’s second-largest economy should push to legalise online gambling, which he said could net the government as much as 100 billion baht (US$2.88 billion) in annual revenues. Speaking at an event in Bangkok late on Monday, just hours after the Thai cabinet approved a draft law to legalise casinos, Thaksin said the government was coming up with ways to control access to, and tax revenue from, online gambling. “Online gambling... https://www.scmp.com/news/asia/southeast-asia/article/3294658/thailand-pushing-ahead-it-grand-casino-plans-and-thaksins-all-it?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3294658/thailand-pushing-ahead-it-grand-casino-plans-and-thaksins-all-it?utm_source=rss_feed Tue, 14 Jan 2025 05:51:12 +0000 For years, Pogos flourished in the Philippines, bringing in billions of pesos in revenue while also opening the door to crime and corruption. Now, as Ferdinand Marcos Jnr’s government races to shut down the last of these controversial offshore gaming operators by year’s end, critics warn that the deeper vulnerabilities they exposed remain unresolved. Money laundering, human trafficking and cyber fraud have all been linked to the once-booming Pogo industry, which catered largely to a Chinese... https://www.scmp.com/week-asia/economics/article/3291737/why-closing-pogos-wont-solve-philippines-china-problems?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3291737/why-closing-pogos-wont-solve-philippines-china-problems?utm_source=rss_feed Sun, 22 Dec 2024 05:30:09 +0000 Mia Castagnone Mia Castagnone More than half of luxury consumers in mainland China plan to increase spending on such items over the next 12 months and are looking for domestic brands that are “more relevant” to their tastes, according to a report released Thursday. Shoppers have an increasing appetite for luxury experiences and lifestyle products, in addition to tangible luxury goods, according to Simon Tye, the CEO of MDRi, which published its annual luxury report. “Chinese shoppers want to spend more among all the... https://www.scmp.com/business/china-business/article/3290429/more-half-mainland-chinese-luxury-consumers-plan-increase-spending-report?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3290429/more-half-mainland-chinese-luxury-consumers-plan-increase-spending-report?utm_source=rss_feed Thu, 12 Dec 2024 06:30:10 +0000 Cheryl Arcibal Cheryl Arcibal Despite a slowdown in the global art market, auction house rivals Christie’s and Sotheby’s upgraded their commercial showrooms in Hong Kong earlier this year, as they shift from renting exhibition spaces to hosting auctions and events in-house. For its revamped showpiece, Sotheby’s chose a two-storey, 24,000 sq ft space in Hongkong Land’s Landmark Chater building in Central. It features a range of immersive experiences and museum-quality exhibitions. The ground floor will host year-round... https://www.scmp.com/business/article/3287166/rival-art-houses-christies-sothebys-show-flashy-new-hong-kong-showrooms?utm_source=rss_feed https://www.scmp.com/business/article/3287166/rival-art-houses-christies-sothebys-show-flashy-new-hong-kong-showrooms?utm_source=rss_feed Sun, 24 Nov 2024 03:30:08 +0000 Singapore renewed Genting Singapore Ltd.’s casino licence for a shortened two years after regulators said its tourism performance was “unsatisfactory”. Singapore’s Gambling Regulatory Authority, which usually extends casino licences for three years, said Genting’s Resorts World Sentosa had areas that “require rectification and substantial improvement” following a review. The casino’s new two-year term will begin from February 6 with the next evaluation to take place in 2026. Genting said the... https://www.scmp.com/news/asia/southeast-asia/article/3287326/singapore-takes-action-against-resorts-world-sentosa-unsatisfactory-tourist-numbers?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3287326/singapore-takes-action-against-resorts-world-sentosa-unsatisfactory-tourist-numbers?utm_source=rss_feed Wed, 20 Nov 2024 04:08:12 +0000 Cheryl Arcibal Cheryl Arcibal Swiss luxury watchmaker Omega is expanding its footprint in Hong Kong, leasing another shop on Russell Street – once the world’s priciest retail strip – for HK$400,000 (US$51,404) a month, according to Midland IC&I. The transaction gives a much-needed boost to a struggling Hong Kong retail market, which has seen closures by many major brands as they grapple with lower spending by both locals and tourists. “Recently, we do see the overall leasing activity gradually picking up,” said Rosanna Tang,... https://www.scmp.com/business/article/3280217/omega-leases-another-shop-hong-kongs-causeway-bay-agents-see-retail-leasing-pickup?utm_source=rss_feed https://www.scmp.com/business/article/3280217/omega-leases-another-shop-hong-kongs-causeway-bay-agents-see-retail-leasing-pickup?utm_source=rss_feed Sat, 28 Sep 2024 00:30:08 +0000 Agencies Agencies Cashless gambling will be soon be permitted at Singapore’s two casinos under amendments to the city state’s Casino Control Act, though the use of cryptocurrencies will remain prohibited. The changes aim to future-proof the regulatory framework, allowing for new gaming methods, Minister of State for Home Affairs and for Social and Family Development Sun Xueling told parliament on Tuesday. Cashless betting will include options such as placing wagers at gaming tables or machines by drawing virtual... https://www.scmp.com/news/asia/southeast-asia/article/3278030/singapore-gives-go-ahead-cashless-gambling-its-casinos-not-cryptocurrencies?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3278030/singapore-gives-go-ahead-cashless-gambling-its-casinos-not-cryptocurrencies?utm_source=rss_feed Wed, 11 Sep 2024 02:29:47 +0000 Mia Castagnone,Daniel Ren Mia Castagnone,Daniel Ren China’s biggest-ever video game hit, Black Myth: Wukong, has led to a surge in bookings at hotels that cater to gamers, according to travel provider Trip.com. Some operators of such hotels – which offer gaming hardware in their rooms for fans who do not necessarily have their own – reported that they sold out multi-person rooms on August 20, the evening that the game was released. Booking site operator Trip.com Group confirmed the spike in activity, reporting that search volume for gaming rooms... https://www.scmp.com/business/banking-finance/article/3276330/black-myth-wukong-sends-chinas-game-friendly-hotels-overdrive-boosts-room-rates?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3276330/black-myth-wukong-sends-chinas-game-friendly-hotels-overdrive-boosts-room-rates?utm_source=rss_feed Thu, 29 Aug 2024 02:11:00 +0000 Mia Castagnone Mia Castagnone A complex in the heart of Shanghai that combines an esports arena with six nightclubs, a range of restaurants and a comedy club is luring crowds of young locals and tourists – despite a general slump in consumer spending – thanks to a “for-everyone” attitude and a reasonable, all-in price. The 20,000-square-metre INS (“Into Nothing Serious”) complex is meant to offer an experience like an international music festival, according to founder and chairman Dino Ying Shu-ling, who is also the founder... https://www.scmp.com/business/china-business/article/3274175/shanghais-one-price-party-complex-draws-young-throngs-despite-economic-jitters?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3274175/shanghais-one-price-party-complex-draws-young-throngs-despite-economic-jitters?utm_source=rss_feed Tue, 13 Aug 2024 00:30:11 +0000 The Mirage is about to vanish from the Las Vegas Strip. Gambling ended and the doors closed on July 17 at the iconic, tropical-island-themed hotel-casino that opened in 1989 with a fire-spewing volcano outside, and Siegfried & Roy’s lions and dolphins inside. Frenzied final days have seen standing-room crowds wagering to win US$1.6 million in slot machine progressive jackpot winnings that state regulations say have to be disbursed before the lights go out and a massive transformation of the... https://www.scmp.com/lifestyle/entertainment/article/3270891/mirage-casino-resort-changed-strip-closes-return-hard-rock-las-vegas?utm_source=rss_feed https://www.scmp.com/lifestyle/entertainment/article/3270891/mirage-casino-resort-changed-strip-closes-return-hard-rock-las-vegas?utm_source=rss_feed Thu, 18 Jul 2024 11:26:07 +0000 The Philippines’ notorious offshore gaming hubs are back in the cross hairs amid a senator’s bid to ban the controversial operations that cater to Chinese customers and have been linked to a slew of criminal activities. In the bill he filed late last month, Senator Sherwin Gatchalian called for the Philippine Offshore Gaming Operator (Pogo) sector to be outlawed, citing a proliferation of human trafficking cases and online scams. “While the Pogo industry has brought in revenue and jobs, the... https://www.scmp.com/week-asia/economics/article/3265139/philippines-chinese-gambler-focused-pogos-face-fresh-ban-threat?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3265139/philippines-chinese-gambler-focused-pogos-face-fresh-ban-threat?utm_source=rss_feed Mon, 03 Jun 2024 04:55:14 +0000 Macau casino operator MGM China announced better-than-expected first-quarter earnings and has set its sights on maintaining its highest ever share of the mass market gaming segment. The company’s senior executives said they will continue to use data analysis to navigate and capitalise on market trends, which they believe gives them an advantage over their five main rivals, namely Galaxy Entertainment, Melco Resorts, Sands China, SJM, and Wynn Macau. MGM China reported a net revenue of HK$8.3... https://www.scmp.com/business/companies/article/3261226/mgm-china-sees-first-quarter-revenue-soar-it-sets-its-sights-protecting-its-highest-ever-market?utm_source=rss_feed https://www.scmp.com/business/companies/article/3261226/mgm-china-sees-first-quarter-revenue-soar-it-sets-its-sights-protecting-its-highest-ever-market?utm_source=rss_feed Thu, 02 May 2024 11:52:42 +0000 Somporn is a devout Buddhist, she doesn’t drink or smoke, is still working even in her seventies and is law-abiding in almost every way. Her one vice is gambling, illegal but rampant in Thailand – a multibillion-dollar shadow economy that runs the gamut from illicit streetside lotteries and underground casinos, to online poker and punts on Muay Thai bouts, cockfights and English Premier League football. “This country has around 70 million people and I am sure at least half of them are gambling,”... https://www.scmp.com/week-asia/politics/article/3258839/thailand-sees-philippines-gambling-billions-singapores-resorts-and-rolls-dice-casinos-hopes-cashing?utm_source=rss_feed https://www.scmp.com/week-asia/politics/article/3258839/thailand-sees-philippines-gambling-billions-singapores-resorts-and-rolls-dice-casinos-hopes-cashing?utm_source=rss_feed Sat, 13 Apr 2024 01:30:19 +0000 China’s young, tech-savvy, ultra-rich cohort is shaping the wealth management and luxury spending industries, including art collecting, according to experts at a conference in Hong Kong. “The asset management landscape in Asia is undergoing significant transformations due to changing demographics and digitisation,” said Chen Ding, the CEO of CSOP asset management. Speaking on a panel at the HSBC Global Investment Summit on Wednesday, Ding added that the wealth-management industry is being... https://www.scmp.com/business/china-business/article/3258620/chinas-young-ultra-rich-seen-reshaping-wealth-management-art-collection-and-luxury-spending-hsbc?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3258620/chinas-young-ultra-rich-seen-reshaping-wealth-management-art-collection-and-luxury-spending-hsbc?utm_source=rss_feed Thu, 11 Apr 2024 05:56:37 +0000 Fears of a slowdown in spending among Chinese shoppers have dogged the luxury industry for the better part of a year. Last week the scale of the problem hit home for one of fashion’s biggest but most exposed brands, Gucci. French group Kering SA saw US$9 billion wiped off its market value after warning that sales of the Italian label’s products in China have slumped this quarter. The slowdown is also starting to show up in other corners of the luxury industry. A separate report showed Swiss... https://www.scmp.com/business/china-business/article/3256514/guccis-china-shock-reverberates-across-luxury-landscape?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3256514/guccis-china-shock-reverberates-across-luxury-landscape?utm_source=rss_feed Sun, 24 Mar 2024 07:30:21 +0000 Switzerland’s Omega, the only watchmaker certified by Nasa for all manned space missions, has raised more than US$600,000 through an online auction for the charity Orbis International as part of its corporate social responsibility (CSR) initiative. The luxury brand, part of the Swatch Group, auctioned 11 suitcases, each containing 11 MoonSwatch Moonshine Gold Hong Kong edition watches via Sotheby’s, raising 534,670 Swiss francs (US$604,225) for Orbis. Swatch has been supporting Orbis, which... https://www.scmp.com/business/article/3253976/omega-raises-us600000-eye-charity-orbis-through-auction-hong-kong-special-edition-watches?utm_source=rss_feed https://www.scmp.com/business/article/3253976/omega-raises-us600000-eye-charity-orbis-through-auction-hong-kong-special-edition-watches?utm_source=rss_feed Sun, 03 Mar 2024 06:14:29 +0000 Beijing giveth and Beijing taketh away, or is it the other way round this time? First, the industry watchdog inadvertently caused a market rout of almost US$80 billion after it announced a plan to tighten online gaming restrictions. Then, just before Christmas Day, the National Press and Publication Administration (NPPA) approved 105 domestic online titles, along with 98 imported ones. Calm was somewhat restored in the market. Certainly it helped that the NPPA quickly clarified the proposed... https://www.scmp.com/comment/opinion/article/3247539/us80b-market-rout-games-rules-shows-there-much-lose?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3247539/us80b-market-rout-games-rules-shows-there-much-lose?utm_source=rss_feed Sat, 06 Jan 2024 21:30:20 +0000 Hong Kong’s luxury retail market is likely to regain some lost ground in 2024 as high-end brands slowly find their way back to the city after an exodus sparked by 2019’s street protests and three years of pandemic restrictions. Industry observers, however, remain split about the pace and scale of recovery. Hongkong Land, the biggest commercial landlord in the main business district of Central, is particularly optimistic that brands and tenants are finding new impetus to expand their presence.... https://www.scmp.com/business/article/3246779/hong-kongs-luxury-retail-sector-likely-regain-ground-lost-protests-pandemic-2024-high-end-brands?utm_source=rss_feed https://www.scmp.com/business/article/3246779/hong-kongs-luxury-retail-sector-likely-regain-ground-lost-protests-pandemic-2024-high-end-brands?utm_source=rss_feed Sun, 31 Dec 2023 03:30:15 +0000 North Korea’s alleged smuggling of luxury goods in defiance of UN sanctions has come under the spotlight, as Japanese authorities intercepted a Lexus sedan suspected to be bound for Pyongyang on the same day the North recalled its ambassador to Switzerland amid an investigation into ivory trafficking. The uncovering of the attempted smuggling cases is likely to antagonise the regime in Pyongyang, experts suggest, although they say the United Nations sanctions regime imposed on North Korea is... https://www.scmp.com/week-asia/politics/article/3244737/north-koreas-attempts-smuggle-luxury-goods-expose-un-sanctions-regime-may-be-open-abuse?utm_source=rss_feed https://www.scmp.com/week-asia/politics/article/3244737/north-koreas-attempts-smuggle-luxury-goods-expose-un-sanctions-regime-may-be-open-abuse?utm_source=rss_feed Tue, 12 Dec 2023 09:00:19 +0000 At the opening of Mumbai’s first luxury mall, almost all of Bollywood’s A-list stars turned out for the red carpet event in haute couture outfits, with photographers snapping away, reminiscent of the annual Met Gala in New York. Some 66 global luxury brands – such as Balenciaga, Saint Laurent, Versace, Tiffany & Co – have set up shop in Mumbai’s Jio World Plaza, a one-stop luxury shopping centre in India’s richest city that is also home to 169 billionaires and 59,000 millionaires. With China’s... https://www.scmp.com/week-asia/economics/article/3240384/mumbais-first-luxury-shopping-centre-taps-indias-cultural-understanding-affluence?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3240384/mumbais-first-luxury-shopping-centre-taps-indias-cultural-understanding-affluence?utm_source=rss_feed Mon, 06 Nov 2023 04:00:16 +0000 If there was one valuable lesson that Kuok Hui Kwong learned during the Covid-19 outbreak, it was the importance of telling a complete and authentic story to her audience. Constrained by pandemic curbs and travel restrictions, the 45-year-old Malaysian-born chairperson of the Shangri-La Asia Limited hotel group embraced social media while the virus was ravaging the global economy, sharing her business philosophy and ideas, and sometimes her reflections on family life, via her personal account on... https://www.scmp.com/business/article/3240248/shangri-la-hotels-hui-kuok-braves-new-world-social-media-share-stories-life-goals-staff-guests?utm_source=rss_feed https://www.scmp.com/business/article/3240248/shangri-la-hotels-hui-kuok-braves-new-world-social-media-share-stories-life-goals-staff-guests?utm_source=rss_feed Mon, 06 Nov 2023 00:00:20 +0000 Swiss luxury watch brand Audemars Piguet became the latest tenant to sign up for space at The Henderson in Central, lifting the occupancy of Henderson Land’s flagship commercial building to about 50 per cent, the property developer said in a statement on Tuesday. Audemars Piguet’s move to lease an entire floor or 12,000 sq ft of the 465,000-sq ft tower, that will be officially opened in the last quarter of 2024, comes at a time of record-high vacancy rates in Hong Kong’s office rental market,... https://www.scmp.com/business/article/3234284/swiss-luxury-watchmaker-audemars-piguet-latest-take-tenancy-henderson-hong-kongs-central-district?utm_source=rss_feed https://www.scmp.com/business/article/3234284/swiss-luxury-watchmaker-audemars-piguet-latest-take-tenancy-henderson-hong-kongs-central-district?utm_source=rss_feed Tue, 12 Sep 2023 10:32:41 +0000 Chinese consumers are adjusting their spending habits to account for the country’s less-than optimistic economic outlook, according to global advisory firm PwC. The crisis in China’s real estate sector and high youth unemployment are among concerns weighing on consumer spending, it said in a report published on Tuesday. “Although the degree of financial concern felt by Chinese consumers is less acute than global counterparts, consumers have been holding back on non-essential spending,” said... https://www.scmp.com/business/china-business/article/3231935/chinas-gloomy-economic-outlook-has-taken-fizz-out-consumer-spending-pwc-says?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3231935/chinas-gloomy-economic-outlook-has-taken-fizz-out-consumer-spending-pwc-says?utm_source=rss_feed Tue, 22 Aug 2023 23:30:09 +0000 Sands China, Macau’s second-largest casino operator by market value, turned around its business last quarter to halt 13 straight quarters of losses through the Covid-19 pandemic, suggesting an imminent industry rebound in the world’s biggest gambling hub. The casino operator earned US$187 million of profit in the three months to June 30, according to an exchange filing in Hong Kong on Thursday, versus a US$422 million net loss in the same period a year ago, and US$10 million deficit in the first... https://www.scmp.com/business/companies/article/3228333/question-time-macaus-full-recovery-nears-sands-china-halts-losing-streak-while-blackpink-jacky?utm_source=rss_feed https://www.scmp.com/business/companies/article/3228333/question-time-macaus-full-recovery-nears-sands-china-halts-losing-streak-while-blackpink-jacky?utm_source=rss_feed Thu, 20 Jul 2023 08:24:29 +0000 Chinese beauty brands are no longer being viewed as “cheaper substitutes” and are being regarded as premium products in China, with domestic names outperforming the broader market over the last five years, Euromonitor International said. Chinese beauty brands, or “C-beauty” brands, have seen their sales grow 51 per cent between 2017 and last year, outperforming the overall beauty and personal-care market’s 42 per cent growth in the same period, according to the Euromonitor International China... https://www.scmp.com/business/china-business/article/3226277/c-beauty-brands-such-jala-and-proya-no-longer-cheaper-substitutes-ready-rival-likes-loreal-and-dior?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3226277/c-beauty-brands-such-jala-and-proya-no-longer-cheaper-substitutes-ready-rival-likes-loreal-and-dior?utm_source=rss_feed Sun, 02 Jul 2023 08:00:10 +0000 Since mainland China dropped all its coronavirus travel curbs, the head honchos of the world’s most recognisable luxury brands have been making a beeline there, with French billionaire Bernard Arnault, the chairman and CEO of LVMH, the latest to make a high-profile visit. Arnault, who reportedly chose a shopping mall in Beijing as his first port of call on Tuesday, then swung by Chengdu, the capital of southwestern China’s Sichuan province, and Shanghai before making his way to Hong Kong on... https://www.scmp.com/business/article/3226276/lvmh-boss-bernard-arnaults-visit-highlights-growing-importance-huge-mainland-chinese-market-luxury?utm_source=rss_feed https://www.scmp.com/business/article/3226276/lvmh-boss-bernard-arnaults-visit-highlights-growing-importance-huge-mainland-chinese-market-luxury?utm_source=rss_feed Sun, 02 Jul 2023 06:04:06 +0000 Asia remains the most costly region in the world to live in, with Singapore taking the number one spot, followed by Shanghai and Hong Kong, according to Julius Baer’s latest Global Wealth and Lifestyle report. The report looks at a basket of 12 consumer goods and eight services that reflect the spending patterns of high-net-worth individuals (HNWIs). It showed that prices for all goods and services have increased on average by 13 per cent in local currencies and by 6 per cent in US dollar terms... https://www.scmp.com/business/banking-finance/article/3224670/asia-most-expensive-region-world-according-spending-patterns-super-rich-singapore-takes-top-spot?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3224670/asia-most-expensive-region-world-according-spending-patterns-super-rich-singapore-takes-top-spot?utm_source=rss_feed Tue, 20 Jun 2023 02:30:19 +0000 In a sea change for the traditionally conservative region, some of the biggest tourism spots in Asia and the Middle East are moving toward building or allowing their first casinos, raising competitive pressure on existing hubs like Macau. MGM Resorts International and Wynn Resorts Ltd. have announced plans for billion-dollar resorts in Japan – which has legalised casinos – and the United Arab Emirates, where talks about allowing gambling are gaining momentum. In Thailand, politicians are mulling... https://www.scmp.com/news/asia/article/3224048/asia-middle-east-gamblers-cash-wave-legalisation-thailand-japan-uae-pressuring-macau?utm_source=rss_feed https://www.scmp.com/news/asia/article/3224048/asia-middle-east-gamblers-cash-wave-legalisation-thailand-japan-uae-pressuring-macau?utm_source=rss_feed Wed, 14 Jun 2023 10:18:06 +0000 Sentosa Island, a luxurious tourist destination just off Singapore, almost never happened. After a dark and brutal past involving pirates, malaria, a prisoner of war camp, and mass executions, the island – formerly called Pulau Blakang Mati, or “the island behind which lies death” – almost became an Esso oil refinery. The government had already agreed with the oil company when a few concerned individuals proposed another idea – why not turn it into a popular tourist destination like... https://www.scmp.com/news/asia/southeast-asia/article/3222935/singapores-sentosa-island-pirates-prisoners-war-and-death-casino-golf-and-trump-kim?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3222935/singapores-sentosa-island-pirates-prisoners-war-and-death-casino-golf-and-trump-kim?utm_source=rss_feed Mon, 05 Jun 2023 03:01:16 +0000 Two of the world’s top casino operators are laying the groundwork to potentially establish gambling facilities in Thailand as the industry looks to hedge against a deteriorating outlook in Macau. Galaxy Entertainment Group and MGM Resorts International are studying the potential of opening casino resorts in the country, according to the people, who asked not to be identified because the matter is private. Galaxy, the gaming, retail and hospitality group controlled by billionaire Lui Che-woo, is... https://www.scmp.com/news/asia/southeast-asia/article/3222769/are-galaxy-mgm-casinos-betting-thailand-amid-macau-shift?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3222769/are-galaxy-mgm-casinos-betting-thailand-amid-macau-shift?utm_source=rss_feed Fri, 02 Jun 2023 09:50:33 +0000