Macau Casinos in Crisis Following COVID-19 Shutdown

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Travel Daily News

Japan hoping to lure more tourists to Far East after grand casino unveiling

Osaka has a lot to offer, and it will be interesting to see how the casino is received. There may be a few naysayers, but if it delivers, then the new casino could be on to the winner. Japan has always been an intriguing country to visit, and there is something innately beautiful about it at least from a naturalistic point of view. The cherry…

Travel ・ 01 June 2023

Yogonet

Macau casino gaming revenue hits all-time low in July collecting only $49M amid Covid restrictions

According to the Gaming Inspection and Coordination Bureau, Macau's gaming revenue has hit an all-time low; their worst month ever since records began in 2009. Data shows gross gaming revenue fell 95% to 398 million patacas ($49 million) in July, 98% lower than pre-pandemic levels. Macau's casinos reopened on July 23, after a nearly two-week…

Covid ・ 24 September 2022

EJINSIGHT

Who wants to bid for Macao casino licences? EJINSIGHT

The Macao SAR government has set a deadline of September 14 for gambling operators to submit bids for new licences, due to begin at the start of 2023. The licences of the six current operators, three U.S.-owned, will expire at the end of December. The Covid pandemic and the resultant restrictions on travel have caused the worst three years in the…

Covid ・ 25 August 2022

The Standard

License jitters set for casino amid Covid hit

Macau said yesterday that global gaming operators can submit bids for new licenses from July 29 until September 14 but that it cannot guarantee the number of licenses would stay the same at six. The licenses of the six current operators Sands China (1928), Wynn Macau (1128), MGM China (2282), Galaxy Entertainment (0027), SJM (0880), and Melco…

Covid ・ 29 July 2022

Wild Casino

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Casino City Times

This Week in Gambling: Las Vegas losing millions to Macau COVID lockdown

This week's gambling news comes from Las Vegas via Macau, China, which has been shut down for two weeks due to the latest coronavirus outbreak. Our Macau lockdown update finds this new surge of COVID-19 could cost Macau billions, and is already costing Las Vegas gaming companies like MGM Resorts, Wynn Resorts, and Las Vegas Sands millions. As the…

Covid ・ 28 July 2022

Yogonet

Macau casinos reopen at 50% staff levels after two-week shutdown, but recovery prospects remain bleak

Macau casinos reopened Saturday after a nearly two-week shutdown mandated in an effort to stop the spread of Covid-19. However, without tourists, business was slow for the gaming venues, and analysts have estimated the closures could cost the casinos $1 billion. In response, the government said it intends to distribute $1.24 billion to those…

Covid ・ 25 July 2022

The Street

Las Vegas Casinos Should See Bump From Macau Reopening

Macau has been in dire straits for more than the past week. Earlier this month, the Chinese government announced that it would close all casinos in Macau starting July 11 as the region battles a covid-19 outbreak that infected nearly 1500 people over a three week period in the city of 680000. During previous outbreaks, the Chinese government had…

Land-based ・ 21 July 2022

GMA Network

Macau extends COVID-19 shutdown, including for casinos │ GMA News Online

HONG KONG - Macau is set to begin another working week of partial lockdown, after the city extended the closure of its casinos and non-essential businesses to try and eradicate its worst coronavirus outbreak yet. Authorities had announced a week of "static management" starting June 11 after recording more than 1500 infections in the previous three…

Covid ・ 17 July 2022

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Casino Guru

Macau casinos go on lockdown

Macau's casinos will have to discontinue operations as they did this morning when no property in the special administrative region opened doors for business. This is the result of a Saturday decision issued by the Macau government which ordered concessionaires to keep their gaming properties shuttered at least until July 18 as the region is faced…

Covid ・ 11 July 2022

Forbes

Hong Kong Casino Stocks Slide As Macau Clamps Down On Covid Spread With Fresh Lockdown

Major Hong Kong-listed gambling stocks slumped heavily on Monday after the city of Macau shut down all of its casinos and ordered its residents to stay at home for a week, as local officials attempt to halt an ongoing Covid outbreak and closely align the city's pandemic measures with mainland China's zero-Covid policy. In afternoon trading on…

Covid ・ 11 July 2022

France 24

Macau closes casinos, most businesses as Covid outbreak worsens

Hong Kong (AFP) - Macau on Saturday announced a weeklong shutdown of its casinos and non-essential businesses as the Chinese gambling hub confronted its worst coronavirus outbreak yet. Macau will enter "static management" for a week starting July 11 and residents must stay home, with rulebreakers liable to be jailed for up to two years, top city…

Covid ・ 09 July 2022

Taipei Times

COVID-19: Stocks in Macau casinos fall as virus restrictions kick in

Macau casino stocks yesterday slumped as the Chinese gaming hub battled a COVID-19 outbreak, which has prompted tightened social distancing restrictions and mass testing. The sector has been hammered by the COVID-19 pandemic, with vital tourism revenues wiped out by some of the world's harshest measures to tackle the virus - including tough border…

Covid ・ 20 June 2022

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Seeking Alpha

Macau casinos stocks retreat as rising COVID cases tarnish reopening hopes

Macau casino stocks saw selling pressure again on Monday after a flareup of COVID cases in China led to officials in Beijing and Shanghai ramping up testing policies again. While the number of COVID case in the nation is still only in the hundreds, there is no clear indication that the government will back off from a zero-tolerance policy anytime…

Covid ・ 13 June 2022

Macau Business

Satellite casinos ‘fraught with opacity and undesirable business practices’, expected law changes necessary

Macau satellite casinos are "fraught with opacity and undesirable business practices" and the closure of the sector's regulatory loophole" in the future amended gaming law will provide more "transparency, legal certainty, and full oversight of the city's gaming industry", a gaming researcher from the Macao Polytechnic University states in a new…

Covid ・ 06 April 2022

Seeking Alpha

Las Vegas Sands A Buy On China Reevaluating Policies (NYSE:LVS)

Uncertainty almost always creates volatility in markets. When traders and investors don't have a clear picture of what a company's earnings will look like, usually even the slightest news story can move the company or sector the company is in significantly. There is significant near-term uncertainty in the Chinese gambling sector in Macau right…

Covid ・ 18 March 2022

Markets Insider

4 Reasons Macau Casino Stocks Are Tanking

Macau casino stocks have taken a beating so far in 2022, but the selling pressure has intensified in recent days. On Tuesday, Bank of America analyst Shaun Kelley highlighted at least four reasons investors are dumping Macau stocks. Reasons For The Sell-Off: For the past year, Kelley has repeatedly discussed the "three C's" weighing on Macau…

Finance ・ 15 March 2022

CBS Philly

More Bipartisan Support For Atlantic City Casino Smoking Ban

ATLANTIC CITY, N.J. (AP) - A bill that would ban smoking in Atlantic City's casinos is picking up more bipartisan support, but it remains unclear whether the state's Democratic political leadership will allow it to move forward. The bill, like one that died without a vote in last year's legislative session, would amend New Jersey's Smoke-Free Air…

Land-based ・ 31 January 2022

Gambling News

US Casinos in Macau Will Not Be Treated Differently, Fitch Ratings Claim

Fitch Ratings Inc insists that US-controlled casinos in Macau will not be treated any differently from casinos owned by Chinese entities in light of the recent gaming rights refreshments in the city. The company solidified its claim by adding that US casino subsidiaries are owned by public entities listed in Hong Kong, have invested a lot of money,…

Covid ・ 12 January 2022

Macau Business

Macau’s Challenges: From Better Management of Casinos within Casinos to “Suitable” Economic Diversification

The recent closure of some VIP rooms and the emphasis on Macau-Hengqin cooperation can be analytically put together as a whole package of governing issues with implications for Macau: namely the effective transition from a much better and tighter management of some "casinos" within casino franchises to the formulation and implementation of…

Covid ・ 11 December 2021

Forbes

Why Macau’s Casinos Are Still The Best Bet For Wynn And Las Vegas Sands

B efore the pandemic, Macau was the world's most lucrative gaming market in the world. But after nearly two years of outbreaks and lockdowns, which largely closed the borders of the autonomous region belonging to China to visitors, gambling revenues for the last 10 months are still down 70% compared to pre-pandemic levels. Macau casino stocks are…

Covid ・ 01 December 2021

Real Money

Macau's Casino Stocks, Near Record Lows, Face Specter of Tough License Reviews

Macau's casino stocks are at or near all-time lows after a savaging this week, but it isn't the time to be buying them just yet. You need to be an exceptionally brave speculator willing to play a little Chinese roulette. There's too much uncertainty to be able to derive any sensible value in these names. The spark for this latest selling is a…

Finance ・ 17 September 2021

The CT Mirror

Online gambling during COVID-19? Lamont: 'I must decline.'

Gov. Ned Lamont on Friday quickly dismissed a request by eastern Connecticut municipal officials that he use his emergency powers to unilaterally permit the tribal owners of Foxwoods Resort Casino and Mohegan Sun to offer online gambling while they are closed due to COVID-19. The request landed with a thud in Hartford, where the entirety of state…

Covid ・ 19 January 2021

GGRAsia

Macau loosens casino capacity, entry requirements

The Macau health authorities have scrapped guidelines regarding capacity limitations and entry restrictions at the city's casinos, as part of its city-wide move to roll back existing countermeasures against Covid-19. The guidelines have required operators to avoid overcrowding in their establishments. They have included: limiting the number of…

Covid ・ 12 December 2022

Seeking Alpha

Searching for green shoots with Macau casino stocks (OTCMKTS:WYNMF)

The painfully slow recovery in Macau may have taken another step forward after Macau daily revenue for the week ending November 13 was reported to be 37% higher than the first six days of November. The relative jump in Macau gross gaming revenue was likely tied to mass testing for COVID ended in Macau on November 5, according to Jefferies analyst…

Finance ・ 14 November 2022