As the world's richest gambling center, Macau is a hub of excitement and activity in the gaming industry. In this article, we will summarize the latest news from Macau, covering updates on casino projects, economic trends, top brass career changes, and more.
Broker Cuts Forecast for Macau Second-Half Mass GGR
According to a recent report by a brokerage firm, Macau's second-half mass gross gaming revenue (GGR) has been cut by 3-4% due to poor macroeconomic conditions. This reduction brings the forecasted GGR to 113% of its pre-COVID level.
Sheraton Brand to Exit Londoner Macao
The Sheraton hotel brand will be replaced with "Londoner Grand" at The Londoner Macao casino complex by December this year. This change marks a significant shift in the branding strategy of the complex.
Sands China Reports Q2 EBITDA Down Quarter-Over-Quarter
Macau casino operator Sands China Ltd reported an adjusted property earnings before interest, taxation, depreciation and amortisation (EBITDA) of US$561 million for the three months to June 30. This figure represents a decrease from the same period last year.
Regulator Probes Unlicensed Gaming Agents
The Macau Gaming Inspection and Coordination Bureau has launched an investigation against unlicensed individuals engaging in illegal gaming activities. This move aims to crack down on illegal gambling operations in the region.
Macau GGR Reaches Nearly US$1.6 Billion in First 21 Days of July
According to JPM, Macau's casino GGR reached MOP12.75 billion (US$1.59 billion) for the first 21 days of July. This figure reflects a "decent" gaming environment.
Average 5-Star Room Rate Reaches US$197 in First Half
The average nightly room rate in Macau's five-star hotel segment reached MOP1,582.4 (US$196.80) during the first half. This represents a 12.4% increase from the same period last year.
Melco Resorts' Q2 EBITDA Likely Weaker Due to Reinvestment
JPM has lowered its estimate for property-level earnings before interest, taxation, depreciation and amortisation (EBITDA) for Melco Resorts & Entertainment Ltd in the second quarter due to reinvestment.
Visitors and Steady Spend Support Macau GGR: CreditSights
CreditSights Inc expects incremental growth in market-wide GGR in Macau as visitors and steady spend continue to support the region's gaming industry.
World Casino News: Your Source for Macau Updates
At World Casino News, we provide comprehensive coverage of the latest developments in Macau. From casino project updates to economic trends, top brass career changes, and licensing issues, we keep you informed about all things Macau. Our directory profiles every casino in Macau, providing an in-depth look at each property's amenities, dining options, and more. Whether you're a gaming enthusiast or simply looking for inspiration for your next trip, World Casino News is the ultimate resource for all your Macau needs.