Asia

Asia News

Japan Gambling Bill fails

A bill that would have legalized casino gambling in Japan recently died when Prime Minister Shinzo Abe dissolved parliament to call a snap election.

Submitted by Payton on, Dec/01/2014

Macau Gambling Revenue Up But Misses Estimates

(Reuters) - Macau, the world's casino capital, raked in 28.7 billion patacas ($3.6 billion) in gambling revenues for the first month of 2014, boosted by Chinese visitors flocking to the country's only legal casino hub ahead of a week-long national holiday.

Revenue growth in Macau, a special administrative region of China like neighbouring Hong Kong, was up 7 percent in January, the lowest growth rate since October 2012 and far below analyst estimates of 11-15 percent.

Submitted by Reuters on, Feb/10/2014

Macau September Gambling Revenue Disappoints

Farah Master, Reuters News

(Reuters) - Gambling revenue in Macau rose a weaker-than-expected 12.3 percent in September, indicating China's slowing economy is increasingly hurting the appetite of wealthy mainland gamblers to place bets in the world's largest casino market.

September's revenue at 23.87 billion patacas, announced by the Macau government on Thursday, was the second weakest revenue figure this year.

Submitted by Reuters on, Oct/04/2012

Adelson Unveils Plan for New Eiffel Tower Replica Macau Casino

(AFP) - Las Vegas casino boss Sheldon Adelson on Thursday unveiled plans to build a scaled down replica of the Eiffel Tower as part of a new $3 billion gambling resort in Macau.

The Las Vegas Sands Corp. chief spoke publicly for the first time about the new development as he opened a Sheraton hotel in the second phase of his latest $4.4 billion resort, the Sands Cotai Central, itself only five months old.

Submitted by Guest on, Sep/20/2012

Macau Says August Gambling Revenue Second Highest on Record

HONG KONG, (Reuters) - Gambling revenue in Macau grew 5.5 percent year-on-year in August, government data showed on Monday, signalling a muted pick up in growth buoyed by demand from mainland gamblers.

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Submitted by Guest on, Sep/03/2012

Under China's Watch, Macau Won't Return to 'Gangster's Paradise'

(Reuters) - Three murders, hammer-wielding heavies, and a high-profile police swoop have raised concerns that Macau, the world's casino capital, may be backsliding to the bad old days of the late-1990s. And that's even before ex-triad boss "Broken Tooth" ends a 15-year jail sentence in December.

All this at a time when China's  economy, the world's second-biggest, is growing more slowly - hitting gambling revenue and possibly making junket operators, who collect gambling debts in exchange for commission from casinos, more aggressive.

Submitted by Guest on, Aug/27/2012

Galaxy's H1 Net Profit Jumps Ninefold on New Casino

HONG KONG -  (Reuters) - Macau casino operator Galaxy Entertainment, posted a ninefold increase in first-half net profit, beating expectations as its new casino cashed in on a steady flow of Chinese visitors keen to try their luck in the world's largest gambling destination.

Although China's economic slowdown is threatening to rein in the flow of visitors that made Macau one of the fastest-growing economies in 2011, Galaxy is seen as better positioned than most rivals as its new casino benefits from high traffic on Macau's glitzy Cotai strip.

Submitted by Guest on, Aug/27/2012

Rachel Maddow: A Sheldon Adelson Justice Department Would Make ‘Macau’ Probe Go Away (Video)

Sands boss, billionaire and one of the top contributors to the Republican party, Sheldon Adelson, is fast becoming one of the most loathed men within the poker community.  Many players have called for an all-out boycott of his properties.  These include the Sands, Venetian and the Palazzo in Las Vegas.  Sands also operates properties in other parts of the US including Bethlehem, Pennsylvania as well as in China's Macau. 

Submitted by C Costigan on, Jul/17/2012

Macau Gambling Growth Misses Expectations

(Reuters) - Macau's gambling revenue growth rebounded last month from May, though the increase was slower than expected, signaling muted spending in the world's largest gambling destination.

Revenue rose 12.2 percent from a year earlier to 23.3 billion patacas ($2.92 billion) in June, faster than May's 7.3 percent gain, government data showed on Monday. Analysts had expected a 15 percent increase.

Submitted by Guest on, Jul/02/2012

Las Vegas Sands Revenues More Than Double Thanks to Macau

Casino operator Las Vegas Sands Corp's  first-quarter profit more than doubled, beating Wall Street estimates, helped by increased revenue from Asia. Revenue for Sands China Ltd jumped 25 percent to $1.45 billion.

Las Vegas Sands Corp is overseen by billionaire Sheldon Adelson, the man behind GOP Presidential candidate Newt Gingrich’s super PAC.

The deep-pocketed chairman Sheldon said he doesn’t believe the gaming operator’s prospects in Macau and Singapore will flatten out.

Submitted by Aaron Goldstein on, Apr/27/2012

Galaxy Plans $2.1B Macau Casino Expansion

HONG KONG (Associated Press) — Galaxy Entertainment Group plans to double the size of its flagship Macau casino in a $2.1 billion expansion as it seeks to win over more customers in the world’s biggest gambling market.

The Hong Kong company said it has already started construction of the second phase of its Galaxy Macau casino complex, which opened last year in the Cotai district.

Submitted by Guest on, Apr/26/2012

Macau Gambling Revenue Up An Amazing 57 Percent

Submitted by Aaron Goldstein on, Sep/01/2011

Stanley Ho Named in RICO Complaint

Submitted by Aaron Goldstein on, Aug/18/2011

Las Vegas Falls to Number 3 Behind Macau, Singapore of top Gambling Destinations

Las Vegas is now the number three gambling destination in the world, falling behind Macau and Singapore

Las Vegas continues to lose some serious ground to its Asian counterparts, more specifically Macau and Singapore.  While Macau has been blowing Sin City out of the water in recent years, Singapore has just claimed the number two spot of top gambling destinations this week. 

Submitted by Aaron Goldstein on, Jun/07/2011

Macau Says Gambling Revenue Surges 42 pct in May

By Farah Master

HONG KONG, June 1 (Reuters) - Gambling revenue in Macau, the world's largest gaming market, jumped 42.4 percent in May to 24.3 billion patacas ($3 billion), the Macau government said on Wednesday, bolstered by unabating demand from mainland tourists eager to gamble in China's only legal casino destination.

Submitted by Guest on, Jun/01/2011

MGM China IPO at HK$15.34 per Share

Submitted by Aaron Goldstein on, May/26/2011

Macau Casino Stocks May See Short Term Drop Second Half of 2011

Submitted by Aaron Goldstein on, May/24/2011

MGM China IPO Price at $3.6 Billion

Submitted by Aaron Goldstein on, May/17/2011

Galaxy Casino Opens in Macau: Price Tag $2 Billion

With a price tag of just $2 billion (that’s with a “b”), the extravagant Galaxy Casino opened in Macau, the world’s largest gambling Mecca.

Submitted by Aaron Goldstein on, May/15/2011

For Las Vegas Sands, the House Edge is Geographical Diversity

The entire article from the Daily Finance can be read here

Submitted by Guest on, May/15/2011

Macau Casino Revenue up 44.6 Percent

(Reuters) - Casino revenue in Macau, the world's biggest gaming market, rose 44.6 percent in April to 20.5 billion patacas ($2.56 billion).

Submitted by C Costigan on, May/03/2011

Many Dead in Karachi Gambling Club Explosion

At least 16 people were killed and 40 others wounded after a bomb went off in one of Karachi, Pakistan’s largest gambling clubs Thursday night. 

According to CNN International, Raja Umar Khitab, a senior police official in Karachi, said the bomb was placed under a table at the club and consisted of at least 2 kg (about 4.5 pounds) of explosive material. The blast made a crater at the site, he added.

The explosion happened in the port city's Ghass Mandi section, police spokesman Muhammad Saleem said.

Submitted by Jagajeet Chiba on, Apr/21/2011

Macau Gambling Revenue up 48 Percent in Month of March

(Reuters) - Casino revenue in Macau, the world's biggest gaming market, rose 48 percent in March to 20.1 billion patacas ($2.51 billion), the Macau government said on Friday.

Macau's casino industry is booming on robust demand from gamblers from mainland China, who account for the bulk of the territory's visitors. The former Portuguese enclave is the only place in China where mainland Chinese can legally gamble.

Submitted by Guest on, Apr/01/2011

Ho Family Reaches Settlement Over Macau Gambling Empire

A weeks long feud over the Macau gambling empire of billionaire tycoon Stanley Ho has come to an end, at least for now.

Submitted by Aaron Goldstein on, Mar/10/2011

Sands Las Vegas Under Investigation for Allegedly Taking Bribes

Shares in Sands Las Vegas were down 7 percent on news that the company is under investigation for allegedly taking bribes in Macau.

Submitted by Aaron Goldstein on, Mar/01/2011

Ho No! The Stanley Ho Family Saga Continues

89-year-old Macau casino tycoon Stanley Ho filed a new lawsuit against various family members on Wednesday in an effort to keep control of his vast business empire.

Submitted by Aaron Goldstein on, Feb/16/2011

Four Wives, Seventeen Children Involved in Ho Debacle

Just one day after announcing publicly that all was good in his family, the 89-year-old Macau casino magnate, Stanley Ho has filed suit claiming he got a raw deal.

Submitted by Aaron Goldstein on, Jan/28/2011

Ho No, Not Again! Billionaire Casino Magnate Files Lawsuit

So you thought it was over, huh?  Guess again!

Submitted by Aaron Goldstein on, Jan/27/2011

Breaking News

Casino Billionaire Sheldon Adelson Breaks Three Ribs in Fall

Casino Billionaire Sheldon Adelson Breaks Three Ribs in Fall

Casino billionaire Sheldon Adelson missed the Venetian Macao’s 10th anniversary celebration following a gruesome fall Monday evening that left the 84-year-old with three broken ribs.

Live Casino Immersive Roulette Online Reviewed

Live Casino Immersive Roulette Online Reviewed

Immersive Roulette features a multi-camera view that allows one to see slow motion shots of the ball landing in its pocket and is considered among today’s crown jewel of casino entertainment in the world of live casinos.

FanDuel CEO Parts Ways: Former CFO Returns to Take His Place

FanDuel CEO Parts Ways: Former CFO Returns to Take His Place

FanDuel today announced that the Chief Executive Officer, Nigel Eccles, who cofounded the company in 2009 redefining the fantasy sports industry, is leaving the company and stepping down from the Board of Directors to focus on his next venture.