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
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.
Forget Kim K and Rihanna – these are the richest women in 2023, from Jacqueline Mars’ M&M and Skittles empire and Alice Walton’s Walmart inheritance, to Rafaela Aponte-Diamant’s cruise line ventures
Pogos, which employ about 201,000 Chinese and 111,000 Filipinos, deliver 190 billion pesos (US$3.2 billion) to the Philippine economy each year.
The reality TV star once played a card game at a Las Vegas casino and won US$350,000 worth of chips.
Macau casino stocks are back in the limelight as analysts see their potential as “glass half full.” A wider reopening of the Chinese economy will underpin more upside in 2023, analysts say.
It may be a case of too much too soon. A late-2022 surge has rendered Macau casino stocks expensive relative to fundamentals, while capital spending plans outside their core operations are likely to erode returns, some analysts said.
Sun sets on former Suncity CEO after court sentences Chau and 12 others over handling almost HK$824 billion in illegal bets, unlawful gains of HK$21.5 billion.
Nunthida Kongreung says she was told her parents died from smoke inhalation, but ‘if help had come earlier they might have survived’.
The massive blaze at Cambodia’s Grand Diamond City hotel-casino could have been caused by New Year decorations that overheated, an initial investigation suggested.
The police chief for Metro Manila said once-rampant kidnappings in the nation’s capital linked to offshore gaming operators had declined. Then came fresh reports of another abduction by ‘Chinese-looking individuals’.
Macau’s six casino operators are expected to pump US$14.7 billion into the local economy with non-gaming projects required for new gambling licenses.