Macao news propels stock prices for some Las Vegas casino operators

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Review Journal

Will the United Arab Emirates become the ‘Las Vegas of the Mideast?’

It was the late 1990s when anyone in Southern Nevada started thinking about Macao as "the Las Vegas of the East." Now, we should start thinking about the United Arab Emirates as "the Las Vegas of the Mideast." Las Vegas Sands Corp. was one of the early believers in Macao, the densely populated, 12.7-square-mile enclave at the mouth of the Pearl…

Travel ・ 16 June 2024

Review Journal

Macao regulators release July gaming revenue results

Macao casinos had their best month of 2023, one year after having their worst month of 2022. Macao's Gaming Inspection and Coordination Bureau on Tuesday reported gross gaming revenue of $2.075 billion (U.S), the most won in the special administrative region since January 2020. By comparison, the state of Nevada last week reported gaming win of…

Finance ・ 02 August 2023

Review Journal

Macao casino revenue rebounding as analysts expect continued growth

Gaming industry analysts expect casino revenue to continue rising in Macao after back-to-back months of growth. The region's Gaming Inspection and Coordination Bureau on Wednesday reported a 33.1 percent increase in gross gaming revenue to $1.3 billion in February compared with a year earlier. While February figures were down from January, John…

Industry ・ 02 March 2023

Review Journal

Three Las Vegas companies receive Macau licensing extensions

Las Vegas Sands Corp. will tear a page out of the Las Vegas playbook when it invests $3.5 billion over the next decade in launching restaurants and nongaming tourist attractions to attract international visitors there, the company announced Monday. It plans to develop several new restaurants and introduce international culinary concepts to support…

Industry ・ 20 December 2022

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Review Journal

Disappointing gaming revenue in Macao continues to saddle Las Vegas company-owned operations in the Chinese region as a result of COVID-19 restrictions.

Macao reported another disappointing month of gaming revenue in November with the region reporting winning $374.4 million, a 55.6 percent decline from November 2021. Macao's Gaming Inspection and Coordination Bureau on Thursday said the region has had only one month - February - in which the region's 39 casinos made more money than they did a year…

Covid ・ 02 December 2022

Review Journal

Las Vegas Sands, Wynn Resorts, MGM Resorts named Macao’s gaming concession winners

Three Las Vegas-based companies got a welcome boost Saturday when the Macao government announced they had been granted provisional approval to continue operating casinos in the Chinese enclave for the next 10 years. Macao's special administrative region government announced Saturday that MGM Resorts, Las Vegas Sands, Wynn Resorts along with three…

Travel ・ 13 December 2022

Review Journal

Las Vegas Sands, Wynn Resorts, MGM among companies lining up for Macao license.

Seven gaming companies will vie for six operational licenses in Macao, but at least one analyst expects all of the competitors will end up getting a piece of the action. The government of Macao on Friday announced six existing concessionaires - Las Vegas Sands Corp., Wynn Resorts Ltd., MGM Resorts International, and Chinese operators SJM Resorts…

Travel ・ 20 September 2022

Review Journal

Macao casino relicensing occurring as region recovers from shutodown of properties

Macao, the most lucrative casino gaming market in the world since 2006, is taking a page from an old Strip playbook. Remember those efforts to draw families to Las Vegas in the 1990s? Casino companies across the valley built thrill rides, roller coasters and Strip-front entertainment to attract audiences to their resorts. That's what's in store for…

Strategy Guide ・ 14 August 2022

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Review Journal

Sands casinos among properties that will be allowed to reopen Saturday morning

Las Vegas Sands Corp., operators of casinos in Macao and Singapore, reported tepid second-quarter revenue results Wednesday as health restrictions in Macao continued to batter resort operators there. The Las Vegas-based casino company reported a loss of $440 million, 38 cents a share, on revenue of $1.045 billion for the quarter that ended June 30.…

Covid ・ 20 July 2022

Review Journal

Macao casino shutdowns extended five days

Stock market prices for the affiliates of three Las Vegas companies operating in Macao began rebounding Monday, even after a weeklong government-ordered casino shutdown was extended by five days. The casino lockdown, which began July 11 and had been set to expire Sunday, is now scheduled to end July 23. Analysts have estimated the closures will…

Covid ・ 18 July 2022

The Arkansas Democrat

Macao casinos told to branch out

MGM Grand Macau casino resort is closed in Macao, Monday, July 11, 2022. Streets in the gambling center of Macao were empty Monday after casinos and most other businesses were ordered to close while the Chinese territory near Hong Kong fights a coronavirus outbreak. (AP Photo/Kong) BEIJING -- Losing money because of covid, the American casino…

Travel ・ 12 July 2022

The Diplomat

Macao, ‘Las Vegas of Asia,’ Tells Casinos to Grow Beyond Gambling

Losing money due to COVID-19, the American casino giants that helped make Macao the "Las Vegas of Asia" face a fresh challenge: The tiny Chinese territory wants them to help reduce its reliance on gambling by paying to build theme parks and other attractions. The former Portuguese colony stayed out of business decisions for decades but now is…

Covid ・ 11 July 2022

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Portland Press Herald

With casinos struggling, ‘Las Vegas of Asia’ looks to reduce reliance on gambling

BEIJING - Losing money due to COVID, the American casino giants that helped make Macao the "Las Vegas of Asia" face a fresh challenge: The tiny Chinese territory wants them to help reduce its reliance on gambling by paying to build theme parks and other attractions. The former Portuguese colony stayed out of business decisions for decades and now…

Covid ・ 07 November 2022

Star Advertiser

‘Las Vegas of Asia’ tells casinos to grow beyond gambling

BEIJING >> Losing money due to COVID, the American casino giants that helped make Macao the "Las Vegas of Asia" face a fresh challenge: The tiny Chinese territory wants them to help reduce its reliance on gambling by paying to build theme parks and other attractions. The former Portuguese colony stayed out of business decisions for decades and now…

Covid ・ 11 July 2022

CT Insider

'Las Vegas of Asia' tells casinos to grow beyond gambling

BEIJING (AP) - Losing money due to COVID, the American casino giants that helped make Macao the "Las Vegas of Asia" face a fresh challenge: The tiny Chinese territory wants them to help reduce its reliance on gambling by paying to build theme parks and other attractions. The former Portuguese colony stayed out of business decisions for decades and…

Covid ・ 11 July 2022

Review Journal

Weeklong Macao casino shutdown affecting Sands, MGM, Wynn begins

Macao casino resorts closed their doors Monday as a weeklong government-ordered shutdown began in the region, taking a toll on properties including several operated by three Las Vegas-based companies. Because of elevated COVID-19 case numbers, Macao Secretary for Administration and Justice Andrew Cheong Weng Chun on Saturday ordered a closure of…

Covid ・ 11 July 2022

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Review Journal

Macao gaming revenue dips to an 18-month low

Macao gaming revenue slumped to an 18-month low in March, Macao's Gaming Inspection and Coordination Bureau reported Friday. It was the second month this year that gross gaming revenue was below 2021 levels. The market showed a 6.1 percent rebound in February, thanks primarily to increased visitation during Chinese New Year celebrations. The bureau…

Finance ・ 02 April 2022

Review Journal

Losses by large companies show pandemic still affects Las Vegas

The theory gaming industry analysts hypothesized months ago appears to be holding true: Companies operating on the Strip and in Macao are struggling more than their regional counterparts. Third-quarter earnings reports wrapped up late last month and the numbers show there's still a way to go before we can say the pandemic is behind us, even as…

Covid ・ 05 December 2021

Review Journal

Macao has lowest monthly gaming revenue in history in June

Macao endured its lowest monthly gaming revenue and worst percentage decline from the previous year in its history in June as effects of the coronavirus continue to affect the world's largest gambling market. Macao's Gaming Inspection and Coordination Bureau on Wednesday announced that June's $89.7 million (U.S.) in casino revenue represented a new…

Finance ・ 04 February 2021