Owner welcomes mass footfall and increased spend in hotels, casinos and malls and looks forward to a busy summer as tourism industry revives.
One-off insurance payment and gradual return of visitors boost the group’s performance, however Raffles on Cotai may not open until 2022.
The company’s Macao operations generated 74.5 per cent of its total adjusted property EBITDA in the first quarter of 2021.
Gaming operator takes a hit, but remains determined about new super-luxury hotel opening and prospects for 2021.
Last month’s growth indicated a recovery from last year’s casino takings. However, April’s revenues were still much lower than those in April 2019.
Record numbers of visitors, drawn by Macao’s healthy reputation, are streaming back into the city bound for its casinos.
Neither gaming nor junket operators may get involved in the election process, and the ban extends to their staff who are not even allowed to store campaign material at work.
Casino licenses will expire in June 2022, but analysts predict they may well be extended due to the pandemic. Public consultation is still due to go ahead.
Late casino magnate’s daughter sells off another MOP 460 million in MGM shares, prior to what insiders say is likely a return to the family business.
Company appeals court decision, which ruled that the resort’s sought-after, photogenic gondola rides are definitely a tourism offering.
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.