Macau’s Q1 gross gambling revenue breakdown clearly shows the mass market pulling ahead of the VIP sector, which is struggling to recover from the double-whammy of Covid and policy pressures in China.
Chinese bookings for Macau during the five day Golden Week holiday in May are up 20 percent over 2019 levels, according to Trip.com.
Mass market baccarat accounted for 51 percent of Macau's gross gambling revenue in the first quarter of this year, according to figures released by the Gaming Inspection and Coordination Bureau.
SkyCity Entertainment's earnings are recovering faster-than-expected from the Covid crisis, said Standard & Poors in a note raising its credit outlook to stable from negative.
Crown Resorts' largest shareholder has reached an accord with the New South Wales regulator under which it agreed not to seek representation on the board, share information with the company or have discussions that are not in a public forum.
Bobby Soper, the newly appointed international president at Mohegan Sun, talks to Asia Gaming Brief about the group’s vision for its resort in Incheon, South Korea and aspirations for a license in Nagasaki, Japan. He says the group’s entertainment-focused, non-gaming model will help to cushion Mohegan from the notorious volatility in South Korea’s foreigner-only casino market.
Macau's narrow economic base and its high concentration of tourists from China restrain the city's credit rating and have contributed to historically high levels of gross domestic product volatility, Fitch Ratings says.
Macau's tax revenue take from its gambling industry fell by 50 percent in Q1 to MOP9.1 billion ($1.14 billion), according to the Financial Services Bureau.
Las Vegas Sands has launched a multi-million dollar advertising campaign in an effort to convince lawmakers to legalise casinos in Texas.
Landing International said it has appointed Huang Wei as a non-executive director to oversee the group's theme park and hotel operations.