PHILIPPINES CASINOS FACE WARNING OF STRICTER LOCKDOWN FOR AUGUST
By Derek Tonin Before Manila-area casinos have any hope of reopening, and definitely before they have a hope of returning to strong revenues, the General Community Quarantine (GCQ) likely has to come to an end. Nobody knows exactly when that day…
US$1 BILLION LOSS FOR MACAU CASINOS IN Q2
Bloomberg analysts expect negative EBITDA for Macau’s six largest casino operators for the period between April and June. Macau.- Bloomberg’s financial analysts believe Macau’s biggest casinos will collectively lose about US$1 billion in the second quarter of 2020. Although projections…
APE TO HOST FIRST SPORTING EVENT IN MACAU AS EARLY AS 2021
APE’s CEO has said the date for its first sporting event will depend on ongoing negotiations with potential partners and the Covid-19 pandemic. Macau.- Herman Ng Man Ho, chief executive officer of the gaming machines distributor and service provider Asia…
CHINESE LOTTERY SALES FALL 17.7% IN MAY
China’s Sports and Welfare Lotteries saw sales fall 17.7% in May, the smallest year-on-year decline reported by the country’s Ministry of Finance since novel coronavirus (Covid-19) hit. Sales for the month came to CNY29.22bn (£3.32bn/€3.65bn/$4.14bn), though this marked a 24.9%…
SINGAPORE RESUMES ONLINE SPORTS BETTING
The government has also relaxed travel restrictions for citizens of certain countries and will allowed dine-in outlets to operate. Singapore.- The government’s Multi-Ministry Taskforce has announced the Asian country will move to Phase 2 of its plan to ease Covid-19…
PHIL-ASIAN GAMING EXPO (PAGE) POSTPONED UNTIL JANUARY 2021
The Phil-Asian Gaming Expo (PAGE) has made the decision to postpone this year’s exhibition, to be held at Manila’s SMX Convention Centre and World Trade Center, with the revised dates scheduled for 7 to 9 January 2021. Although a difficult decision…
MACAU EXPECTS TO COLLECT US$6BN IN GAMING TAXES
Full year forecast for casino taxes halved due to the negative impact of the Covid-19 outbreak. Macau.- The government expects to collect MOP49.98 billion (US$6.26billion) in taxes from the city’s gaming industry this year. The forecast comes from a revised…
MACAU TOURISM TAX PROPOSAL A CASUALTY OF COVID-19
It’s tough to talk about, but there are some silver linings to this pandemic. Less traffic on the road, the air is a bit cleaner, and Macau is moving away from a tourist tax. Macau Business reports the Macao Government…
ANTI-POGO BILL FILED BY LAWMAKERS
Anti-POGO bill would ban all Offshore Gaming Operations from the country. Philippines.- Philippine lawmakers have filed a bill labelled the Anti-POGO bill, designed to ban Philippine Offshore Gaming Operations (POGOs) from the country. Led by House Minority Leader, Bienvenido Abante…
MACAU GGR DOWN 96.8% IN APRIL
Macau’s gross gaming revenues plummeted by 96.8% year-on-year to just MOP$754 million in April, according to data released by the Gaming Inspection and Coordination Bureau. The result, largely in line with dire estimates put forward by analysts, comes after Guangdong…