Gambling Clear News
Thailand’s new prime minister is pushing casino resorts as a way to drive tourism and revenues. According to one analyst, a Thai industry, done well, could overtake Singapore for GGR. In 2018, analysts predicted that integrated resorts (IRs) in Japan would be gaming’s “next holy grail.” They estimated gross gaming revenue (GGR) of up to
Melco Resorts & Entertainment returned to a net profit in Q1 as ongoing recovery in Macau helped push group revenue up 55.2% year-on-year to $1.11bn (£887.2m/€1.04bn). Macau has bounced back since reopening in full last January when all remaining pandemic measures were dropped. Melco referenced this as one of the main reasons behind full-year growth in 2023
Galaxy Entertainment Group (GEG) reported a 211.0% increase in revenue to HK35.68bn (£3.60bn/€4.21bn/US$4.56bn) during 2023, driven by the full reopening of the Macau gaming market. Macau withdrew all remaining pandemic travel and quarantine restrictions in January 2023. This meant people could again travel freely to the region and visit its land-based casinos, including the Galaxy Macau. This
Fitch Ratings has pointed to Macau’s “strong rebound” following the COVID-19 pandemic in predicting a positive financial outlook for Wynn Resorts. Macau’s gaming industry took a huge hit during the pandemic with extremely tight restrictions grinding the market to a halt. However, the removal of travel restrictions in early 2023 has induced an impressive response
The Macau Horse Racing Company has agreed to cease offering horse racing from 1 April 2024. Today (15 January), the Macau Horse Racing Company – which operates the Macau Jockey Club – signed an agreement with the special administrative region’s government. This agreement terminated the concession awarded to the Club to exclusively operate horse racing
Fitch Ratings has altered its outlook on SJM Holdings from “negative” to “stable”, expecting the company to turn free cash flow (FCF) positive in 2024. The positive FCF should help SJM to expand, while also “driving a reduction in debt balance”. Fitch is projecting SJM to reach HK$6.6bn (£664.5m/€770.9m/US$845.3m) in EBITDA by 2026. The agency
Macau reported another strong month for its gambling sector as monthly gross income reached MOP$18.6bn (£1.8bn/€2.1bn/$2.3bn) in December, a 433% increase year-on-year. While gross gambling income in December was also 15.7% higher in Macau than the MOP$16bn recorded in November, it fell short of the MOP$19.5bn accumulated in October. December was no doubt another strong
Gambling revenue in the Macau market rocketed by 435.0% year-on-year to MOP$16.04bn (£1.56bn/€1.83bn/US$2.00bn) in November, the fourth highest monthly total so far in 2023. The figure was some way ahead of MOP$3.00bn in November of last year but 17.7% behind $19.50bn in October 2023. However, October’s total was the highest monthly amount in Macau since before
MGM Resorts International reported record revenue of $3.97bn (£3.23bn/€3.71bn) in Q3 in spite of the upheaval called by the major cyberattack. The attack took place towards the end of Q3 on 11 September, with MGM forced to shut down certain systems. MGM has already revealed the attack had a negative adjusted property EBITDAR impact of approximately $100.0m.
Gambling revenue in Macau totalled MOP19.50bn (£1.99bn/€2.29bn/$2.42bn) in October, the highest monthly amount since before the pandemic. The total is up 400.2% from MOP3.90bn in Macau in October of 2022 and 30.5% ahead of MOP14.94bn in September this year. The figure is also the highest monthly total so far this calendar year. Perhaps more importantly, it
