Thursday, October 29, 2020

Macau

China advisor predicts gambling stability for Macau

Jia Kang, the former head of the Chinese Academy of Fiscal Studies, predicts "stable development for Macau's gambling industry, even though Beijing is preparing a legislative amendment to stop capital flight for gambling. 

Emperor Entertainment issues profit warning

Emperor Entertainment Hotel Ltd. has issued a profit warning for the six-month period ending September 30, noting that the firm expects a consolidated net loss attributable to owners of the Company of not more than HK$160 million (US$21 million).

No effort in creating travel bubbles, Macau Chief Executive

Macau Chief Executive Ho Iat Seng said on Saturday that so far there had been no attempt at creating travel bubbles between Macau and any other jurisdiction. He added that there might be the risk of a severe negative impact on Macau were it to open to visitors from foreign countries.

VIP baccarat accounts for 48% of Macau Q3 GGR

VIP baccarat revenue was up 51 percent quarter-on-quarter and made up almost 48 percent of the revenue for the quarter, while mass market revenue jumped 77 percent from Q2, accounting for 38 percent overall, according to government figures.
Anti-corruption drives, capital flow focus, add to Macau woes

Anti-corruption drives, capital flow focus, add to Macau woes

A sign Beijing is once again ramping up its anti-corruption rhetoric, combined with an increased focus on capital outflows, are likely to be further factors hindering recovery in Macau.

Success Universe provides additional loan for Ponte 16

Success Universe announced that it will extend HK$58.8 (US$7.6 million) in financial assistance for the Ponte 16 resort in Macau. This follows a HK$39.2 million loan provided in July.

Success Dragon executive director resigns

Success Dragon International Holdings, a Macau-centric firm that helps manage gaming machines, has announced that Nai Yuet Cheung has resigned as an executive director, effective October 15.
A Golden Week like no other – Few visitors and little gambling

A Golden Week like no other – Few visitors and little gambling

The numbers are in and they’re not pretty. The key Golden Week holiday didn’t produce the much-anticipated shot in the arm for Macau’s gaming industry, although they did highlight some noteworthy underlying trends that may drive longer-term performance. 

Melco generates US$338,000 for SMEs via roadshows

Melco Resorts & Entertainment says it has generated over MOP2.6 million since January for Macau's small and medium-sized enterprises through its Heart of House roadshows with colleagues. 

Suncity gets two-year extension to bond maturity

Suncity Group said it has secured a two-year extension to the conversion date of outstanding convertible bonds, which are mostly held by a company controlled by Chairman Alvin Chau.

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