Gaming stocks hit by Melco comments

Gaming stocks listed on the Hong Kong stock exchange took a dip today, apparently partly because of bearish comments by senior executives of Melco Resorts and Entertainment on their earnings conference call yesterday. In mid-afternoon trading, most of the six listed gaming operators saw their stocks down, by between 2%-3%. When asked about the outlook […]

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Melco reports Q4 Ebitda down 4%

Melco Resorts and Entertainment has reported its unaudited financial results for the fourth quarter and full year ended December 31, 2019. Adjusted Property EBITDA was US$409.8 million for Q4, down 4% year-on-year. That was on revenues of US$1.45 billion, up 3% year-on-year. Lawrence Ho, Chairman and Chief Executive Officer, commented: “During the fourth quarter of 2019, despite […]

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Sands China retains top executives

Sands China has retained the services of its three most senior executives, promoting two of them at the same time. The company’s President, Wilfred Wong, has been reappointed, while Grant Chum has been promoted from Chief of Staff to Chief Operating Officer and Dylan Williams has been promoted from Senior Vice President of Legal to […]

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DAILY NEWS WRAP

SJM’s CEO, Ambrose So, says the firm has asked the government to consider giving the local industry some financial breaks amid uncertainties over the coronavirus outbreak. GGRA. The worst out of three scenarios in 2020 for the Macau casino market might see business disrupted into the autumn, “with only slow and gradual pickup” in visitor […]

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Casinos reopen – to sounds of silence

Checks of gaming floors today revealed few surprises: among the 29 casinos that reopened last night, very few customers were to be found. Taxi lines were empty. Lobbies were sparsely populated by skeleton staff serving almost no customers. Casino floors had few tables open, and no area had more than a few dozen players seated. […]

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Daily News Wrap

Here are today’s highlights from local media: Ferry services between Macau and Shenzhen’s Shekou are suspended until further notice. The only ferry service still operating is between Macau and Zhuhai’s Wanzai. GOV The president of the Sports Bureau (ID), Pun Weng Kun, and the director of the Health Bureau (SSM), Lei Chin Ion, have been […]

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Govt preps casinos for midnight opening

The government is taking no chances with the reopening tonight of 29 casinos at the stroke of midnight. It is conducting thorough checks of all playing areas to ensure sterilization measures have been taken and procedures are being followed to minimize the chance of a COVID-19 outbreak. See these informative videos from the DICJ for […]

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Another day, another fake video

Macau’s gaming regulator, DICJ, put out a notice today clarifying that a certain video circulating on social media was another example of “fake news” related to one of the concessionaires. In the video, which can be seen here, rows of temporary beds have been squeezed into one of the meeting halls at the Venetian Macao, […]

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MGM donates 500,000 masks

MGM China today donated 500,000 surgical masks to the Macau government. They were presented in one go by MGM China’s CEO, Grant Bowie, and President, Kenneth Feng, to Ao Leong Iu, Secretary for Social Affairs and Culture. Pansy Ho, Co-chairperson of MGM China, said, “The glamor of Macau is temporarily dimmed by the epidemic, but our […]

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Macau must prepare for ‘long-lasting offensive’, says scholar

On February 13, the government announced a series of economic support measures for residents and companies, including tax relief and subsidies for small and medium-sized enterprises. It also introduced an economic-stimulus package of electronic consumption vouchers, worth MOP3,000 each, for every resident.   A respected local scholar believes these measures are like a “timely rainfall. Ye […]

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