TagJ.P. Morgan

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Six incumbents get provisional Macau gaming license, Genting fails in bid

Genting has failed again in its bid for a Macau casino license, with authorities on Saturday announcing that the current six operators will continue as Macau’s only six concession holders.

Genting Malaysia narrows its 3Q22 loss to $1.84mln

Genting Malaysia has narrowed its third quarter loss significantly, when compared to 2021, recording a loss of RM8.26 million ($1.83 million), as opposed to RM307.04 million ($68.3 million) in 3Q21.

Macau gaming concessionaires investment to rise beyond $12.4 bln: report

Macau’s future gaming concessionaires are going to have to invest even more than the MOP100 billion ($12.4 billion) they were planning to over the 10-year span of their new licenses.

NICC not likely to approve The Star Entertainment remediation plan ‘for some time’

The Star Entertainment Group says that the New South Wales Independent Casino Commission (NICC) does not endorse its hiring of an independent monitor regarding it’s the Star Sydney Casino property.

Kingston records negative GGR of $2.67mln April-September

Kingston Financial Group, operator of two satellite casinos in Macau, has recorded negative gaming revenue for the six months ended September 30th, amounting to a loss of HK$20.91 million ($2.67 million).

Emperor Entertainment says casino shuttering led $10.7mln loss April-Sept

Former Macau casino operator Emperor Entertainment says that the discontinuation of its gaming operation in the SAR led to its hotel revenue falling by more than half in the six months ended September 30th, to HK$108.6 million ($13.9 million).

Dynam Japan records a 10% revenue increase, but profits are down 65% y-o-y

Pachinko hall operator Dynam Japan recorded a 10.4 percent yearly increase in revenue during the six months ended 30 September, however net profit fell by 65.3 percent year-on-year.

Macau government sets aside $80.8mln to attract tourists from new markets

Macau’s government has set aside MOP650 million ($80.82 million) to try and attract tourists from new markets next year.

ACMA keeps pushing the crackdown on the illegal offshore gambling websites

The ACMA has requested that Australian internet service providers (ISPs) block more illegal offshore gambling websites, after investigations found 9 services to be operating in breach of the Interactive Gambling Act 2001.

Macau Jan-Oct gaming tax revenue less than half of expected, 4Q22 expectations grim

Tax revenue from Macau’s gaming operators up until October only reached some 47.5 percent of the level expected in the annual budget, despite a downward revision carried out in July.

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UPCOMING EVENTS