The hotel license of ill-feted Macau hotel THE 13 expired on New Year’s Eve, according to information from the Macao Government Tourism Office (MGTO), raising yet more questions as to its long-term…
Category: News
Galaxy Entertainment Group grants US$80 million in share options and awards to executives, employees
Macau concessionaire Galaxy Entertainment Group (GEG) has granted a combined HK$622.6 million (US$79.7 million) worth of share options and share awards to its Board of Directors, senior executives and other employees in…
Macau hotel occupancy rate hits 82.3% in November
Macau’s hotel occupancy rate reached 82.3% in November, largely flat month-on-month but up by 43.7 percentage points compared with the same month in 2022, according to information from the Statistics and Census…
Convicted Terrorist Abdul Benbrika Banned from Crown Resorts Properties
Crown Resorts said this week it would employ facial recognition technology to ensure Benbrika never sets foot in the Crown Melbourne or any of its casinos worldwide. The radical Muslim cleric was…
Las Vegas Sands, MGM Could Be 2024 Consumer Cyclical Stars
As highlighted by the 40% returned this year by the S&P 500 Consumer Discretionary Index, consumer cyclical equities, including select gaming stocks, performed well in 2023. Some analysts believe sequels are possible…
Cambodia Denies Human Trafficking Claims Tied to Fake Gambling Business
Cambodian authorities have arrested a group of Thai nationals on allegations of criminal mischief and arson. They reject the assertion of the nine people that they were victims of human trafficking tied…
Japan Rejects Integrated Resort Plan for Nagasaki
The Japanese national government’s expert panel on integrated resorts (IRs) has rejected Nagasaki Prefecture’s plan to develop a casino resort in Sasebo. It was the expected outcome, given the extensive delays in…
Casino Billionaire Phil Ruffin Donates $2M to Donald Trump 2024 Campaign
Phil Ruffin is the first Las Vegas casino billionaire to open his deep pockets to help support Donald Trump’s 2024 presidential bid. Ruffin holds a 50% stake in Trump International Las Vegas…
Sportsbook Operators Boosted Ad Spending During Football Season
Not surprisingly, US sportsbook operators increased advertising expenditures during the ongoing 2023 football season. From Sept. 1 through Dec. 26, sports betting advertising spending on television jumped 10% to $237.8 million, according…
Caesars, MGM Preferred Picks as Las Vegas GGR Soars, Says Analyst
With the good times rolling on the Las Vegas Strip, Caesars Entertainment (NASDAQ: CZR) and MGM Resorts International (NYSE: MGM) could be winning equity ideas for investors in 2024. That’s the take…