Macau's glittering casinos are shuttered this week thanks to a Covid outbreak and China's zero-Covid strategy for fighting the tenacious virus. The order to shut down the city's 30+ casinos came directly from Macau Chief Executive Ho Ian Seng, who is implementing policies the Chinese government used recently in Shanghai to mitigate the spread of…
The gambling industries has long been one of those 80/20 kind of industries. Those are the businesses where 80 percent of the revenue comes from 20 percent of the customers. More specifically, gambling operators rely on a minuscule portion of the player pool who spend disproportionate amount of cash and, therefore, generate a disproportionate amount…
Casino magnate Sheldon Adelson died at his home in Malibu, California yesterday after a prolonged battle with non-Hodgkin's cancer. Adelson, who was the Chairman and CEO of the Las Vegas Sands Corporation was 87 at the time of his passing, according to a report in the Las Vegas Review-Journal. Adelson's success in the casino business…
One sure bellwether for the global recovery from the pandemic is the health and well being of Macau. The special administrative region, and its wealth of world-class casinos is economic engine that drives huge revenue for Chinese businesses, but has been shut off to foreigners since the pandemic began. This week, The Government Information Bureau…
Macau's famous casinos continue to take a battering as the infamous coronavirus rages across Asia and threatens the rest of the world. Many of the casinos in the semi-independent Chinese enclave have been closed, or suffered some sort of extended closure, since mid-January and the losses are starting to mount. Though it's certain that almost…
The coronavirus that's spreading across Asia, and the rest of the world is having a huge impact on the Asian gambling business and the situation, apparently, is only going to get worse. Chinese gambling workers are being barred from some Asian countries and the casinos in Macau could close down for an indefinite time; and…
The casinos of Macau have something of legendary place in the annals of gambling history. During the early 2000's they roared to life on the strength of Macau's status as a semi-autonomous state within the sprawling administrative giant that is the Chinese government. At its height, Macau hosted endless junkets of prosperous Chinese businessmen and…
When business reporters discuss the ongoing trade war between the US and China they tend to talk about auto and electronics sales, not casinos. The war for worldwide economic supremacy between the two superpowers has had a major impact on the Macau gaming industry,though some relief could be in sight for the mega-casinos that serve…
The gambling is business is known for providing casino games to customers 24 hours a day, 7 days a week, 365 days a year. In general, it takes an act of God or a force of nature to shut the doors of gambling establishments anywhere on the planet. That's why last week's 33-hour closure of…
Gaming revenue in Macau was down for the month of September while revenue on the Las Vegas Strip recorded a slight uptick. It turns out that both of these numbers are being influenced by the same source...Mainland China. On the island of Macau, the revenue slump that just won't end has now reached its 17…
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