Macau Legend Development remained optimistic for the future of its casino operations despite announcing a loss $152 million USD for the 2021 Financial Year.
Newly appointed Star’s managing director and CEO, Robert Cooke, stated that “ensuring continuity of the business through a comprehensive renewal program is of paramount importance” as he tackles the company’s “well documented challenges” throughout his tenure.
Macau’s casino regulator said measures requiring all staff and guests to have a negative Covid test to enter the premises will go into effect Friday, as cases in the city continue to rise.
Macau’s average hotel occupancy declined 27.9 percentage points in May to 34.2 percent, despite the Golden Week holiday in the month.
Macau casino operator stocks surged on Tuesday after China announced its first major easing in border restrictions since the pandemic began.
The number of Covid cases in Macau has risen to 357 and the gaming regulator has urged casinos to restrict the movement of people and to increase their epidemic control measures.
Aristocrat Leisure is the top pick in Australian gaming for analysts at J.P. Morgan, who expect the company to post an almost 20 percent gain in revenue this year.
Star Entertainment was accused Monday of potentially having broken New South Wales’ Unlawful Gambing Act by allowing Suncity Holdings to operate a casino within a casino.
The New Zealand government said it has invested $76 million on a strategy to minimize harm from gambling.
SJM Holdings’ credit rating has been confirmed at its current level after the operator managed to refinance its loans, but the outlook was cut to negative by Moody’s.
Casinos are in the business of delivering commercial experiences to customers. The process of providing the customer experience involves a sequence of touchpoints where the customer and the organization interact. Very often, service providers such as casinos are unaware of the various touchpoints along with the customer experience or of the significance of these touchpoints in determining customer’s satisfaction with the experience.