EconomyMacao

Fitch shrinks Sands China rating

Fitch Ratings has downgraded the rating of US-listed gaming Sands China and local gaming operator SJM due to increased regulatory risk and uncertainty surrounding the future gaming concessions Read also: Macau police closed all of Suncity’s junket rooms, amidst CEO…
EconomyMacao

Macau loses over 70 billion patacas in gambling tax by October

The Macau Government collected 24.34 billion patacas (2.58 billion euros) until October in direct taxes on gambling, a drop of almost 70 billion patacas, in an annual comparison. A year ago, Macau had revenues of MOP 94.03 billion (MOP 9.98 billion). However, due to…
EconomyMacao

Las Vegas Sands mulling Vegas casinos sale to fund Asia expansion

Gaming group Las Vegas Sands is preparing a possible US$6 billion (MOP47.8 billion) sale of its Las Vegas properties, Venetian Resort Las Vegas, the Palazzo and the Sands Expo Convention Center, in order to shift its focus to Asia, Bloomberg reported. According to the…
EconomyMacao

Gaming revenue in Macau with 93.2% losses

Gaming revenues in Macau fell 93.2% in May, compared to the same period in 2019, when there were already strong restrictions on the borders of the world capital of casinos to contain the Covid-19 pandemic If, in May 2019, operators operating the game in the old territory…
EconomyMacao

American gambling dealerships at high risk, says analyst

American gambling dealers are in serious danger of leaving Macau, with the United States’ decision to fail to recognize Hong Kong’s degree of autonomy vis-à-vis China, says analyst Ben Lee. Less than two years from the new tender for the allocation of the…
Economy

Macau's economy falls 29.6% in 2020

Macau's economy is expected to decline 29.6% this year, due to the covid-19 pandemic according to the World Economic Perspectives released today by the International Monetary Fund (IMF).