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China’s clampdown on online gaming to stop capital outflows is having a negative impact on liquidity in Macau’s VIP sector, Reuters reports.
Las Vegas Sands and its Sands China unit are likely to dominate the market in Singapore and Macau for the next five years, according to a report from Bernstein.
Las Vegas Sands executives told an earnings conference call that they are focusing attention on their Yokohama bid, which they envision will involve an investment of $10-12 billion.
The fire in the roof of SkyCity’s partially built new international convention centre in downtown Auckland is still burning but firefighters say it will likely burn itself out.
Las Vegas Sands has $5 billion in development projects in the pipeline in Asia over the next few years, Chairman and CEO Sheldon Adelson said.
Galaxy Entertainment held a press event in Osaka on Wednesday to make their local pitch, providing competition for MGM Resorts.
The Yokohama municipal government has launched its RFC process for private businesses interested in developing Yamashita Pier into a major urban IR.
Melco Resorts & Entertainment and MGM Resorts are likely to have gained market share in Q3 as new properties ramp up, while Wynn Resorts and Galaxy Entertainment may have slipped due to their greater reliance on VIP, Bernstein analysts say.
For the third year running, MGM Resorts has become a sponsor for the October 12th to 13th Dotombori River Festival, in particular focusing on the Yosakoi dancing events.
The hike in the casino entrance fee for local Singaporeans is further deterring already declining visitation to the island state’s two integrated resorts by residents, analysts said.