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Macau Casino Income Reached Post-COVID High as Horse Racing Ends
Sean Young  , ,  -

Macau Casino Income Reached Post-COVID High as Horse Racing Ends

The gambling industry in Macau has good news and bad news. The good news is that Macau casino income reached a record high after the pandemic. However, after learning about the termination of Macau Jockey Club’s concession contract with the government, horse racing fans are sad. The weathered Taipa Racecourse hosted hundreds of spectators over […]

Macau Casino Stocks Show Valuation Opportunities After Declines
Sean Young  , ,  -

Macau Casino Stocks Show Valuation Opportunities After Declines

Due to fears about China’s slumping economy, Macau casino stocks continued to slide since August. However, one analyst believes that the industry will rebound soon. Stifel analyst Wieczynski found investors can benefit from China’s macro uncertainty. The two U.S.-based Macau concessionaires, Wynn Resorts and Las Vegas Sands have seen their stock prices fall significantly over the […]

Macau Junket Boss Gets 14-Year Jail Time for Illegal Gambling
Sean Young  , ,  -

Macau Junket Boss Gets 14-Year Jail Time for Illegal Gambling

Authorities sentenced Macau junket boss Levo Chan to 14 years in jail for illegal gambling, operating criminal syndicates, money laundering, and fraud. Also, he apologized to his former employees at Tak Chun Group. He added that the company was not a triad group. Chan headed Tak Chun, the second largest company in Macau’s junket industry. […]

2023 Casino GGR in Macau is estimated to be $16 billion
Sean Young  , ,  -

2023 Casino GGR in Macau is Estimated to Be $16 Billion

The government estimated the 2023 casino GGR in Macau to hit $126 billion. It is based on the budget proposal released last Friday. However, the government expects a fiscal deficit despite the aggregate income of MOP69.5 billion. As a result, Macau authorities set aside MOP36 billion to cover the budget deficit. According to the Office […]