Latest in: Macau

  • Macau clamps down on cryptocurrencies

    The Monetary Authority of Macau (AMCM) has issued guidance prohibiting financial institutions operating in the region from providing financial services to any businesses involved in virtual currency, citing concerns about money laundering and terrorist financing. In a statement citing an earlier press release the AMCM said that: “Bitcoin is...
  • SJM Holdings revenue, earnings and profit all down in H1

    Bucking overall market trends, Macau casino operator SJM Holdings reported revenue, earnings and profit declines in the first half of 2017. Figures released Tuesday show the Hong Kong-listed SJM’s gaming revenue falling 2% year-on-year to HKD 20.4b ($2.6b) in the six months ending June 30, while adjusted earnings fell 7.7% to...
  • House always wins: the dark side of life in Macau’s casino economy

    She paid a smuggler and was tucked into the hold of a ship for the overnight boat ride away from extreme poverty and a dead-end life in rural China. But on her way to a brighter future, Auyeung Lai-sung never made it past the kitchen of one of the...
  • China’s High Rollers Are Back at Macau’s Gaming Tables

    → Gambling hub expected to show seventh straight month of growth → Recovery threatened by property curbs, capital restrictions Chinese high rollers are pulling Macau out of its doldrums, helping reverse the gambling Mecca’s two-year slump with cash created by soaring real-estate values and busy factory floors. Revenue for some...
  • Macau confident about recovery but estimates “conservative” gambling revenue outlook

    The head of Macau’s government gave a conservative forecast for gambling revenue next year that’s 13 percent below analyst estimates amid a nascent recovery in the world’s biggest casino hub, Bloomberg reported. Macau’s government is confident the economy will recover to grow by low single-digits in 2017, Chief Executive...
  • Macau casino operator SJM posts worse than expected first half profit as high rollers stay away

    SJM Holdings, the Macau gaming operator owned by the family of legendary casino mogul Stanley Ho, posted a worse-than-expected net profit for the first half of the year as high rollers continue to shy away from the once-lucrative global gambling capital. Adjusted earnings before interest, taxes, depreciation and amortisation,...
  • Is Macau’s epic gambling slump over?

    Será que a crise épica do jogo em Macau está finalmente a chegar ao fim? As receitas do jogo no território chinês aumentaram 1,1% em agosto em comparação com o ano anterior, quebrando uma série de perdas de 26 meses que prejudicou a indústria de casinos da cidade e...
  • MGM Resorts ups stake in MGM China, Pansy Ho seller

    U.S.-based casino operator MGM Resorts International announced on Tuesday an agreement to acquire 188.1 million shares in subsidiary MGM China Holdings Ltd from minority shareholder Pansy Ho Chiu King. “As a result of the transaction, the company will acquire an additional 4.95 percent of the outstanding ordinary common shares...
  • Wynn Palace in Macau awarded only 150 gaming tables.

    Casino operator Wynn Resorts is all set to open its new Wynn Palace property in Macau, albeit with fewer gaming tables than expected. The $4 billion integrated resort has reportedly been awarded only 100 mass gaming tables for its opening on August 22. This will be followed by 25...
  • Macau vai ter mais 100 mesas de jogo com abertura de novo casino

    O novo casino Wynn Palace, da operadora Wynn, vai abrir este mês em Macau com cem mesas de jogo e passar a 150 nos próximos dois anos, revelou hoje o secretário para a Economia e Finanças, Lionel Leong. Na abertura do empreendimento, a 22 de agosto, a Wynn vai...
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