Shares of Macau casino operators posted gains of between 3% and 5% after official data released by the Special Administrative Region (SAR) of China’s government revealed that gambling revenue in January nearly doubled. Substantial Revenue Increase Macau casinos generated MOP11.58 billion ($1.44 billion) in gross revenue in the first month
While Macau posted its worst year for gambling in 2022, there are now high expectations that things might just turn around for the gaming hub during this coming year – and that rebound might start this month. Cheung Kin Chung, President of the Macau Hoteliers & Innkeepers Association, said he
Macau gaming companies MGM China, Sands China, Wynn Macau, SJM Holdings, Galaxy Entertainment, and Melco Resorts began operating their new licenses on January 1, following the conclusion of 2022’s bidding process. But while the businesses are eager to start welcoming guests to their casino floors, their fate also hangs in meeting the government’s mandate of diversifying
The taxation of gambling plays an important part in the regulation of the activity and raises invaluable revenue for local and country-wide initiatives. Currently, gambling operators in Macau pay a 35% tax on their gross gaming revenue. The operators are due to pay another 5% of their gross gaming revenue
The numbers reflect the continued pressure that uncertain regulation and reemerging COVID-19 outbreaks applied on the industry, nobbling concessionaires’ ability to run their business as usual and drive meaningful results from gaming operations. Macau Clocks Its Worst Year Since 2004 Gross gaming revenue was posted at MOP$42.2 billion for the
Posted on: December 17, 2022, 11:46h. Last updated on: December 17, 2022, 11:46h. Macau’s six casino concessionaires will spend $13.5 billion over the next decade, at the behest of the local government, on non-gaming amenities. Wynn Macau. The operator is among those that will spend $13.5 billion on non-gaming investments.
Posted on: December 9, 2022, 12:16h. Last updated on: December 8, 2022, 05:52h. Macau last month agreed to issue the region’s current six commercial gaming operators with fresh 10-year licenses that will run from Jan. 1, 2023, through Dec. 31, 2033. Macau’s health officials meet with the press on Dec.
The Second Standing Committee of the Macau Legislative Assembly is going to review the Legal Framework for Operating Games of Chance in Casinos, which has been duped by the new junket law of Macau, on November 21. New Article Addition to Clarify What Junket Activities at Macau Casinos Entail At
Posted on: November 9, 2022, 07:51h. Last updated on: November 9, 2022, 07:51h. Former Suncity chairman Alvin Chau “used his entire corporation to run under-the-table bets,” an officer of Macau’s Judiciary Police (PJ for its Portuguese acronym) told Macau’s Court of First Instance Wednesday. Alvin Chau, above, was once the