Despite Macau’s FY22 gross gaming revenue falling more than half yearly (51.4 percent), Sands China consolidated its leadership of the gaming market during the year, leading in almost all segments, including VIP, where Galaxy lost a lot of ground. On the other hand, SJM Holdings saw some uptick in market share last year.
Macau is likely to avoid any long-term effects from a potential global recession, said analysts at Bernstein Research, pointing to the fact that the U.S. gambling industry has shown no signs of any impact from the slowing economy.
New Macau Gaming Staff Rights Association head Cloee Chao Sao Fong has thrown her hat in the ring for a directly-elected seat at the Legislative Assembly.
Felix Ng -
Whilst first quarter GGR in 2021 still showed negative year-on-year growth, the truth is that the Macau gross gaming revenue recovery is well and truly underway.
In the final five months of 2020 there was a steep 86.6 percent fall in the number of new hires within Macau’s gaming industry. That meant that only 174 new employees were hired during the entire stretch.
Macau's Chief Executive took a blasé approach to the impact of the ongoing pandemic measures on the SAR's gaming operators, calling the possibility they won't survive the downturn “conspiracy theories”, despite saying the gaming industry is "dying".
Macau CE: industry “dying” but possibility gaming concessionaires can’t weather downturn “conspiracy theories”
Macau’s top official has called the analysis and questioning on gaming operator’s possibility to endure the ongoing losses brought about by Macau’s pandemic control measures “rumors” and “conspiracy theories”.
Macau’s new gaming law is specifically designed to restrict the size of the industry, writes gaming law expert Nelson Rose in a blog entitled “Macau’s Distressing New Casino Laws.”
The Macau gaming industry is responsible for 62 percent of the territory's carbon emissions, according to a university study indication emissions have been rising sharply.
Faced with the ongoing onslaught of negative news from around the world, you may have missed a few things this week that when put together, point to a more optimistic view of Macau and Asia’s gaming industry.