Page 83 - Cotai News Today

Visitor arrivals to Macau in April – most of them from mainland China – rose 5.3 percent month-on-month, and soared by more than 7,000 percent year-on-year. It was the highest monthly tally since the onset of the Covid-19 pandemic in February 2020, when inbound travel to the city was greatly curtailed by the mainland authorities, as a safety step. This April, the city received a total of 794,819 visitors for the month, with 730,934 of those – i.e., 92.0 percent – from mainland China, ac...

Summary Melco Resorts is one of only six companies with a licence to operate casinos in Macao, the only region in China with legalized gambling. It operates Altira, a complex focused on VIP customers; City of Dreams, an integrated resort in Cotai serving both mass-market and premium-end patrons; and Mocha Clubs electronic gaming machines. In addition, the company also has a majority interest in Studio City, a new casino in Cotai that opened in October 2015. Outside Macao, Melco also owns City o...

May 21, 2021 In Macau and the company behind the luxury The 13 hotel has reportedly issued a profit warning after informally revealing that it expects to record an around $122.3 million deficit for the twelve months to the end of March. According to a report from Inside Asian Gaming, the move from Hong Kong-listed South Shore Holdings Limited came only a few hours after it requested that trading in its shares be suspended pending the official release of its latest annual financial results. The ...

Pursuits 3812 Gallery’s Calvin Hui on pioneering Chinese painters, ‘After Nature’, and his HK Art Week highlights Share The veteran gallerist and connoisseur of contemporary Chinese art speaks to Prestige about upcoming exhibitions, a change in 3812’s business premises, and the galleries he’s looking forward to visiting this week. As day 1 of Hong Kong’s major for-profit art fairs (namely Art Basel and Art Central) rolls to a close, we take a moment to chat briefly with Ca...

  A group of men cross the street in a section of the glitzy Cotai Strip in Macau. Regulations governing the world’s largest casino market are set to change in the coming years. (Image: Getty) Led by Macau Legislative Assemblywoman Ella Lei Cheng I, a group of legislators in the Chinese Special Administrative Region (SAR) say the Gaming Inspection and Coordination Bureau (DICJ) should produce a detailed evaluation. The review would cover how the six casino giants have adhered to the region�...

Macau casino operator Galaxy Entertainment Group Ltd saw strong gaming earnings relative to the earlier part of the year, during the five-day holiday encompassing Labour Day on May 1, said brokerages Sanford C Bernstein Ltd, and Jefferies Hong Kong Ltd in respective Thursday memos, citing commentary from the gaming firm’s management. The improvement was led by premium-mass play, and was accompanied by high levels of hotel occupancy, and strong sales in the luxury retail segment, said the ins...

Macau casino operator Galaxy Entertainment Group Ltd reported on Thursday first-quarter adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) of HKD859 million (US$110.6 million), up 203.5 percent from the prior-year period. The figure was down 15 percent sequentially. Revenue for the period was HKD5.07 billion, up 0.5 percent from a year earlier, but flat from the fourth quarter of 2020. Net gaming revenue decreased 4.7 percent year-on-year, to near...

Macau casino operator MGM China Holdings Ltd announced this week it will launch in July a resident show at its MGM Cotai casino resort, called “MGM Awakening Lion”. The new show has been developed in collaboration with the Guangzhou Song and Dance Theatre, and is said to be an adaptation of the award-winning Chinese ethnic dance drama, “Awakening Lion”. It will be the first show residency for the Guangzhou Song and Dance Theatre outside mainland China, according to a Monday release. ...

Wynn Macau Ltd saw its adjusted property earnings before interest, taxation, depreciation and amortisation (EBITDA) grow in the first three months of 2021 from the preceding quarter, with the parent company saying its bet on focusing on premium-mass gambling customers paid off. Nonetheless, the quarterly loss at the Macau unit widened year-on-year, to US$161.2 million, from nearly US$154.2 million in the first three months of 2020, the Macau unit said in a Tuesday filing to the Hong Kong Stock ...

The management of United States-based casino operator Wynn Resorts Ltd says its Macau unit recorded the “highest amount of normalised profit” per day during May Golden Week, since the onset of the Covid-19 pandemic at the beginning of last year. Matt Maddox, the group’s chief executive, said the growth momentum seen in February and March in the Macau market, “continued in April and May”. He was speaking on Monday, in a conference call with investment analysts following the group’...