Receipts were down 63 per cent in January, well below what the government is planning to net from casinos this year.
Executives label the sale “bittersweet” while pointing to Macao and other parts of Asia as the focus for future investment.
Cutting-edge technology and design plus traditional service combine to ramp up the city’s hospitality offerings: there’s even a special Singapore Sling for Macao.
Gross gaming revenue rose 136 per cent in February to MOP 7.3 billion, the first time in 17 months.
Bosses applaud the end of China quarantine, vaccine roll-out and balance sheet uptick, and look forward to even better results in March and May Golden Week.
A luxury hotel, a concert hall and extensive exhibition space will add to Cotai’s attractions, and the company is already eyeing further development.
Macao’s oldest gaming operator takes a massive hit, but remains optimistic and aims to open Grand Lisboa Palace by mid-year.
Macao’s latest integrated-resort – MOP 15.2-billion (US$1.9 billion) The Londoner Macao – threw open its doors officially today on the
Analysts reckon Macao may benefit from the crackdown.
Wynn Resorts announced that for the year ended 31 December 2020, operating revenues decreased US$2.04 billion at Wynn Palace and $1.60 billion at Wynn Macau.
Macao’s gross gaming revenue rose to MOP 8.02 billion (US$1 billion) in January.
Sands China Ltd has reported total net revenue of $672 million for Q4 2020, a 70% decline from $2.24 billion for the same period in 2019.
The decline reflects the sharp fall in the fortunes of the city’s casinos.
Las Vegas Sands Corp. named acting Chief Executive Officer Robert Goldstein as permanent CEO following the death of Sheldon Adelson.
Casino tycoon and American political mega-donor Sheldon Gary Adelson died last night following complications related to treatment for non-Hodgkin’s lymphoma. He was 87.
The Macao government said in a statement on Tuesday that it “expresses its deepest sorrow on the passing of Mr Adelson, and extends its most sincere condolences to his family.”
Secretary for Economy and Finance said last month he expected this year’s government GGR tax receipts to be around MOP 130 billion, which is around MOP 10 billion per month.
Sheldon Adelson has taken a medical leave of absence from his roles to receive further treatment for non-Hodgkin’s lymphoma.
Gaming operator SJM to give eligible employees a “living subsidies” equivalent of 1.5 or two months’ salary.
December marks the 15th consecutive month of year-on-year declines since October 2019.
Chief Executive Ho Iat Seng said that “anything is possible” concerning the timing of the bidding process for Macao’s gaming concessions which expire in June 2022.
Gaming operator SJM on Thursday announced that its popular Grand Lisboa New Year Countdown Show will be cancelled this year.
Kevin Benning, who has over 15 years of experience in the casino gaming industry will be responsible for the operations of Studio City.
Melco Resorts held a 24.6% share of local gaming revenues between January and September, followed by Sands China at 19.5%.