Saturday, May 30, 2020

Fixing ailing Macau casinos: A few words of experience

Macau industry observers, gaming analysts, and even casino operators are now admitting that the decade-old party has run out of steam, if not over. The “build it and they will come” maxim and its attendant hubris that has characterized the Macau gaming industry since 2003 are now causing deep concern to operators and investors alike. To counter the downturn, the knee-jerk reaction has been to cut costs, directly affecting customer service. This could be a disastrous strategy. According to a recent Gartner study, 89 percent of the companies surveyed will be competing on the basis of customer experience in 2016, nearly a three-fold increase from five years ago.

Investor in talks over shuttered Tinian Dynasty

Tinian’s Mayor Joey P. San Nicolas says there has been serious interest from an investor who is willing to work with the Tinian Casino...

Change in the air for junket sector

Macau’s junket sector, which has been under pressure due to falling VIP revenue and a series of scandals, now faces government reform. As pressure mounts over compliance with anti-money laundering regulations, the sector is likely to face requirements for greater disclosure, greater capital standards and scrutiny of key employees. 

MGM China Q1 posts results shy of forecasts, sees stabilization

MGM China posted a steep drop in Q1 earnings and revenue, but joined the growing chorus of Macau operators in saying they see signs...

Resorts World Las Vegas to begin construction in 16Q4

Resorts World general counsel Gerald Gardner has told the Nevada Gaming Control Board that full-scale construction will get underway in earnest in the fourth...

Junket operator returns cash boosted from Bangladesh bank

Casino junket operator Kim Wong has completed the turnover to the Anti-Money Laundering Council of a further PHP 250 million, representing some of the...

Flexibility in table caps needed: Angela Leong

SJM Holdings executive Angela Leong has said Macau needs to introduce more flexibility in its policy of capping the number of table games. Speaking at...

Imperial Pacific says Saipan casino at saturation point

Hong Kong-listed Imperial Pacific said its temporary casino on the island of Saipan has reached saturation point after pulling in a total VIP table...

Philippines’ Midori casino opens to public

The Midori Clark Hotel’s casino in the Philippines is now open to the public after its soft opening on April 27. Dr Irineo Alvaro, president...

SHFL withdraws claim against Paradise

SHFL Entertainment (Asia) has withdrawn a claim in Macau’s court of First Instance against Paradise Entertainment Group and its Chairman Jay Chun over alleged...

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