Wednesday, December 2, 2020

Tag: Grant Govertsen

Macau legislator: April revenue fall reflects market in process of reorientation

Macau legislator April revenue fall
Macau Secretary for Economy and Finance, Lionel Leong, contextualised the revenue fall within the changing structure of the Macau market, which he..

Macau’s luxury hotel ‘The 13’ suffers costly delays

ICR - The 13 delays
13 Holding’s plans for an ambitious high-rise hotel and casino in Macau are facing a series of financing and construction difficulties, making its aim to open this year less likely.   Seven years in the making, the lavish $1.3bn resort – The 13 – includes just 200 “all-villa” rooms; the most expensive of which to be charged at $130,000 per night. Stephen...

Macau’s May casino GGR surpasses analysts’ expectations

ICR - Macau May GGR
Steve Wynn and Lawrence Ho spelt out Macau’s May rebound in Louis Vuitton analogies as casino revenue hit a $2.8bn high water mark for 2017.   Revenues in Macau jumped almost 24 percent in May, beating expectations and posting a 10-month winning streak as wealthy gamblers returned to the southern Chinese territory. Gross gaming receipts in May rose by 23.7 percent...

Macau Roosevelt Hotel to host satellite casino

ICR - Macau Roosevelt Hotel
The DICJ in Macau is currently debating an application by SJM Holdings to move its casino to the forthcoming Macau Roosevelt hotel.   Stanley Ho Hung Sun-owned SJM Holdings is looking to move its casino from the grandstands of the Macau Jockey Club horse track to the soon-to-open Macau Roosevelt hotel, also located on the grounds of the same complex, according...

Tigre de Cristal set for continued VIP growth in next two years

Casino Review Tigre de Cristal
Macau casino scion’ Lawrence Ho’s venture in Vladivostok looks set to pay dividends, attracting highrollers from across North Asia.   In June, the Tigre de Cristal decided to work with two fixed room junket operators and since then has VIP gaming sector has seen significant growth, according to the casino promoter’s interim report which came out this September. Based on this, analyst...

Macau draws full house in third quarter of 2016

Casino Review Macau
Mass market gamblers helped Macau achieve 8.8 percent gaming growth in October, smashing expectations and pushing some to predict double figure gains in November.   An influx of holidaymakers drove gaming revenue growth beyond expectations for the third consecutive month in Macau - the most compelling endorsement to date of the city’s transition to a mass market destination. Figures released by Macau’s...

150 casino tables for Adelson’s Parisian Macao

Casino Review Parisian Macao
Sand Corporation’s Parisian Macao, the second of the latest wave of big-budget openings on the Cotai Strip, has been granted an upper table limit of 150 units – which are earmarked specifically for the mass-market.   In a move shadowing its treatment of the Wynn Palace Resort, the government of Macau has awarded the Sands Corporation’s soon-to-be-opened Parisian Macao property a total...

Media Watch: Japanese casinos on the cards

Japanese Japan's Casino
Media Watch Industry commentators suggest that Japan’s casino industry could finally get the go ahead after the ruling Liberal Democratic Party (LDP) gained a majority in this July’s upper house election. This will allow the LDP to push through legislation and could set the stage for an integrated resorts (IR) bill to receive a green light following years of close calls. “With...

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