China’s threat to draw up a blacklist of countries targeting gambling is most likely directed at the online industry, though may be enough to deter some travellers even if the government doesn’t follow through with its action.
The Macau Government Tourism Office is planning to launch a tourism promotion campaign starting in the second week of September in Beijing.
A senior Chinese official says a proposal for a yuan-denominated “Nasdaq” in Macau has been submitted to Beijing, local media reports.
The increasingly violent protests in Hong Kong, which is beginning to have an impact on Macau’s gross gambling revenue, are not likely to end anytime soon in the absence of visible dialogue to find a solution, according to a leading risk consultancy.
China’s statement on online gambling in Manila could be seen as a warning to junkets and online gaming operations about gambling outside of Macau, Bernstein analysts wrote in a note.
China appears to have renewed its ban on travel groups to South Korea, dealing a further blow to the country’s tourism industry. According to South...
In just three years, the first of the licenses awarded to Macau’s concessionaires expire and, despite the billions of dollars invested by the operators in the market, there is still no clarity over the renewal process. There is no mechanism under the current law for automatic renewal which, as the deadline approaches, is leading to increasing concern in the market as to the tack the government may take. Views on the ground are mixed.
Macau got off to a good start in January, with GGR in the initial weeks higher than expected, though few expect any return to the stellar growth rates of the past, with China still likely to be the driving factor for casino operators. Beijing’s crackdown on corruption triggered a two-year slump in gaming revenue and going forward the performance of its economy, efforts to control capital outflows and its ongoing fight against graft will all play a role in determining the strength of the local gaming market.
Macau chief executive, Mr Chui Sai On said the government has received valuable contributions from mainland officials regarding Macau’s Five-Year Development Plan. According to a...
The Nevada Supreme Court has ruled that meetings with Chinese government officials helped Las Vegas Sands secure a casino concession in Macau, TDM reports. However,...
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