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Lawrence Ho: Melco’s growth strategy in Macau validated

In an interview with Bloomberg television, Melco Resorts & Entertainment Chairman and CEO Lawrence Ho asserted that his firm’s rising profitability at a time when the local market is being by decline represents proof that Melco’s strategy is working.

AgTech to supply lottery terminals in Zhejiang and Henan

AGTech Holdings Limited reported to the Hong Kong Stock Exchange on Thursday that one of its wholly-owned subsidiaries had won the lottery terminals procurement tenders to supply lottery terminals to the Sports Lottery Administration Centers in Zhejiang province and Henan province.
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S&P cuts China growth forecasts, sees Asia 2020 as disappointing

S&P Global Ratings has cut its forecast for China’s economic growth next year and said overall expansion in Asia Pacific will be disappointing at about 4.7 percent.

Macau to provide more concession detail in April

Macau’s incoming Secretary for Economy and Finance Lei Wai Nong said the government will provide more detail on the re-tender process for the six casino concessionaires in April, 2020 and stressed the priority will be on the interests of the local people. 

Lei Wai Nong

Appointed as the fifth Secretary for Economy and Finance on Dec. 1, 2019, replacing Lionel Leung Vai Tac. Lei was born in Fujian in...

Macau GGR down 8.5 percent on weak VIP

The Gaming Inspection and Coordination Bureau over the weekend that Macau GGR for November came in at MOP22.9 billion (about US$2.8 billion), down 8.5 percent year-on-year.

Dynam installs slot machines at Legend Palace Casino

Dynam Japan Holdings has announced that it has installed three models of slot machines at the Legend Palace Casino in Macau.
Photo by Elton Yung on Unsplash

Twenty years of gaming twists and turns

The 20th anniversary of the Macau Special Administrative region is upon us. When it comes to gaming, these were not two linear decades. There were plenty of twists and turns.

Gaming to continue to drive Macau’s wealth

Twenty-nine years ago I visited Macau for the first time. It was a consolation day trip from Hong Kong for not being able to apply and obtain a visa to enter China in less than a week when I had only four days to spend.

Amax reports 54 percent drop in revenue

Amax International Holdings Limited has reported a 54 percent year-on-year drop in revenues in the six-month period ending September 30 to the figure of HK$28.5 million (about US$3.6 million).

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IPI says raids don’t affect casino ops.

Imperial Pacific International said it assisted in an investigation by enforcement officers on Saipan on Nov. 7, adding the probe does not affect its daily casino operations.

Aristocrat logs 29 percent rise in net profit in FY2019

Slot and gambling machine maker Aristocrat Leisure saw its profits after tax rise by nearly 29 percent in the one-year period to the end of September, reaching almost A$700 million (about US$476 million). The company’s total sales were nearly A$4.4 billion.

Suncity moves quickly to secure Manila IR site

Hong Kong-listed Suncity Group aims to speed up the payment of $200 million to secure the project site for its proposed five-star hotel and casino complex, Westside City Resorts World, to be developed at Entertainment City, Manila.

Peter Wolff named GLI Director of Global Technical Compliance

Peter Wolff has been named as Gaming Laboratories International’s new director of global technical compliance, in which role he is expected to concentrate on technological advances within the gaming industry in order to support regulators in jurisdictions around the world.

VIP to make up of one-third of GGR by 2022

VIP as a percentage of revenues is expected to go down to as low as 34 percent by 2022, according to estimates from Bernstein...