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 […]
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. […]
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 […]