Sands China is restructuring the share capital and management of its concession-detaining subsidiary in Macau, the second company to announce such a restructuring following the government’s granting of provisional 10-year gaming concessions to the six incumbent operators.
Macau hotels’ average occupancy rate in October improved by some 4.2 percentage points when compared to the previous month, reaching 41.8 percent, despite registering a 3-percentage point fall year-on-year.
Sri Lanka’s Ministry of Finance has been tasked with submitting an action plan to set up a casino regulatory authority, as the nation aims to verify whether its current casino licensees are paying taxes.
Macau’s latest COVID cluster continues to increase, with authorities identifying even more cases linked to an infected taxi driver, leading to three days of mass home testing of the population.
Macau Fisherman’s Wharf operator, Macau Legend Development, says that it has appointed a company secretary and authorized representative, clearing it of non-compliance rules for the Hong Kong Stock Exchange.
Australian casino operator The Star says that it has been served with a statement of claim from the nation’s financial crimes watchdog AUSTRAC, which is ‘commencing civil penalty proceedings in relation to alleged contraventions of obligations under the Anti-Money Laundering and Counter-Terrorism Financing Act’.
The defense of former Suncity head Alvin Chau claims that there is no evidence that the junket boss had received any revenue from companies allegedly involved in proxy betting, and that the scale of Suncity Group’s business made it inconceivable that Chau would need to be involved in such illegal activity.
Macau authorities say that ‘gaming-related’ crime was down by 48.8 percent in the first nine months of the year, with just 257 crimes registered during the period.
The number of employees in Macau's gaming sector fell by 2,176 in the second quarter, when compared to the same period of 2021.
Genting Malaysia has confirmed that its bid for a Macau gaming concessions was unsuccessful.
Crown Resorts has registered an AU$945.4 million ($632.18 million) loss for its financial year (until June), mostly due to the company preparing some AU$617 million ($412.58 million) in preparation for expected fines due to the numerous inquiries into its casino operations.