Macau’s gross gambling revenue plunged 94.5 percent in August, the fifth straight month of a more than 90 percent decline, even though visitation has begun to improve.
Creating a uniquely Japanese IR product is essential for success in the market, but operators must not ignore the needs of the domestic market, which will be an equally important component of visitation, said a panel of experts. The panel of speakers were discussing the localization of Japanese IRs, and the incorporation of entertainment offerings […]
Japan’s ruling coalition says it will push for both the implementation bill to govern the casino industry and legislation to address problem gambling to be passed before the end of the current Diet session on June 20th, even though pro-IR parties still have widely different stances. At the opening panel of the Japan Gaming Congress […]
China’s VIPs have an ever growing number of IRs to choose from, but Macau is unlikely to be knocked from its post as the top draw for high rollers any time soon, analysts say. Macau’s new properties on Cotai have had a significant impact in drawing VIPs back to the gambling hub, where VIP gambling […]
Japan is unlikely to allow foreign investors to own 100 percent of an IR, which may hinder potential returns and Tokyo’s ability to achieve its tourism goals, analysts said. “We are pretty certain that anyone who is looking for 100 percent ownership will be disappointed,” said Morgan Stanley Asia managing director Praveen Choudhary at G2E […]
Galaxy Entertainment Group executive director Francis Lui is calling for closer co-operation between Macau’s gaming regulator and its concessionaires and suggested the government should consider cutting taxes to help Asia’s gambling hub remain competitive. Lui made the comments during his opening speech of the G2E Asia conference on Tuesday. He was speaking about the importance of […]
Casino operator Wynn Macau could see short term outperformance ahead of the opening of the new Wynn Palace in Jun. 2016, according to Morgan Stanley. Morgan Stanley analysts have looked into the openings of Galaxy Macau Phase Two, and Melco Crown’s Studio City, where Melco Crown saw an outperformance following its announcement of the opening […]
Macau gaming stocks are feeling the heat from the trade war between the U.S. and China, falling to their lowest levels in a year, with some analysts cutting their growth forecasts on concern for a slowdown in China’s economy.
China’s VIPs are once again driving gross gambling revenue across the region, with the Philippines tipped as being one of the best-placed jurisdictions to take a slice of the high-roller pie.
Macau’s gaming stocks have rebounded to trade at two-year highs, tracking the recovery in gross gaming revenue, however analysts warn against over optimism, saying growth may be nearing its peak, at least in the short term.
China has no intention of killing the goose that lays the golden egg and the fallout from its anti-corruption campaign, which has sent GGR down for the past 11 months, is collateral damage rather than a deliberate attempt to harm business in Macau. This was the message from panelists at the G2E Asia show this week, although most agree prospects for a short-term rebound are slim.
Will the new supply coming to the Cotai resort district set Macau back on the road to growth and if it does will operators be allocated enough tables to make the new multi-billion dollar resorts profitable? They are billion-dollar questions with no ready answer as operators and investors adjust to an adverse political climate in China and the chilly “new normal” this has imposed on the world’s largest casino market.