Macau

Golden Race proved a “big hit” with delegates at the 11th annual Global Gaming Expo Asia, after presenting its new ONLINE platform in Macau.

While recent headlines are a reminder of Macau’s susceptibility to policy risks, the impact is minimal over the long term, said Bernstein in a Tuesday note.

With the upcoming dragon boat festival holidays, Bernstein analysts believe Macau’s gross gaming revenue may stay strong until the month’s end.

Total visitor spending in Macau amounted to MOP 13.5 billion (US$1.7 billion) in the first quarter of 2017, representing an increase of 16.6 percent year-on-year, according to data from the Statistics and Census Service (DSEC).

Sun Century Group Ltd, a company chaired by Alvin Chau has announced it is changing its name to Suncity Group Holdings Ltd.

Stock prices of Macau’s six gaming operators took a hit following reports from Chinese-language media on Wednesday implying that all of Macau’s gaming concessionaires would have to rebid for their licenses through a public tender.

Macau’s new Pac On Ferry Terminal held its inauguration on Thursday, and is set to begin operations at the start of June.

Although the VIP sector is showing signs of rebound, Gaming Inspection and Coordination Bureau director Paulo Martins Chan says his department will endeavor to maintain the same number of junkets regardless.

While the Macau market still has plenty more to give, operators are starting to look elsewhere for future growth potential. Macau’s six casino operators have done well out of the market, but the prolonged slump in VIP play and an increase in alternative options for mass and premium mass players in neighboring countries is forcing many to rethink their growth strategies.

 

While the Macau market still has plenty more to give, operators are starting to look elsewhere for future growth potential

 



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Macau-based law firm MdME has announced the launching of its international gaming practice within the Lex Mundi network.

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