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Macau non-gaming visitor spend slashed in half for 2Q22

In a clear-cut reflection of the visitation decline to Macau, due to COVID19 outbreak and travel restrictions, total non-gaming visitor spending in 2Q22 dropped 46.3 percent to MOP3.85 billion ($49million), Information from the Statistics and Census Service (DSEC) reported.

Mere 210 visitors flew to Macau in July 2022

In a press release issued by Statistics and Census Services (DSEC), it is learned that merely 210 visitors arrived in Macau by Air in the month of July 2022.

Macau gaming still waiting for the players: Jefferies

Macau gaming sector revenues are much burnt than expected especially when Macau was aiming a recovery path in mid-June 2022, resulting, “Macau gaming is still waiting for the players,” Jefferies notes in its latest coverage report on the sector.

J.P. Morgan “Neutral” on MELCO, Bernstein rates “Outperform”

With challenges of COVID19 and travel restrictions as the relevant factor impacting, Melco Resorts and Entertainment 2Q22 numbers have not made much impact on the leading brokerage’s take for the company.

Despite bleak 2Q22 figures, brokerages remain bullish over Galaxy Entertainment, revise pricing

Despite the near-term sluggish outlook, the uncertainty of COVID-19 outbreaks throughout 2022 with travel bans or restrictions, visa restrictions, and quarantine requirements impacting performance, brokerages are bullish over Galaxy Entertainment and have revised the target price of the company shares.

MELCO Resorts widens loss on Macau travel restrictions to $251m for 2Q22

Melco Resorts and Entertainment Ltd reported a net loss of $251.46 million, for the quarter ended on June 30 heavily impacted by the pandemic and the restrictions imposed across mainland China and Macau.

Macau travel restriction impact Galaxy Entertainment’s 2Q22 earnings, reports net loss of $850m

Galaxy Entertainment reported net loss of HK$850 million ($108 million) for the Jun 2022 quarter, as against the profit of HK$947 million ($122 million), as reported by the company during the same quarter in the previous year on travel restrictions.

China reaffirms crackdown stance on cross-gambling crimes

China Foreign Ministry spokesperson Wang Wenbin reiterated the Mainland’s stance warning those suspected of cross-border gambling crimes to turn themselves in or face harsh...

Oddin.gg partners with Genting, Velo, raises $4.5m in SA round 

Leading B2B esports odds feed, risk management and iFrame provider, Oddin.gg, raised $4.5m from current investors, as well as Velo Partners and Genting Ventures in a Series A financing round.

Gaming revenue leap cushions MJC Investments 2Q22 loss at $2.33m

Philippines headquartered MJC Investments Corp reported net loss of PHP130 million ($2.33 million) for quarter ended on June 2022, cushioned by a five fold jump in gaming revenues.

UPCOMING EVENTS

UPCOMING EVENTS