News

China says Hong Kong will ‘suffer’ if protests continue

Beijing on Monday responded to political unrest that has rocked Hong Kong for nearly two months, saying Hong Kong’s society would “suffer” if protests continue. The Hong Kong and Macau Affairs Office, part of the Chinese central government, held the first press conference of its 22-year history on Monday in […]
China says Hong Kong will ‘suffer’ if protests continue
Markets

Wynn slumps as high rollers stay away in Macau

Wynn Resorts shares slumped 5% after missing on revenue and giving weak guidance. The casino operator cited weakness in VIP gaming, and specifically baccarat. Watch Wynn Resorts trade live. Wynn Resorts was hit by a sharp slowdown in its VIP segment, with overall table turnover (money in play) plunging 18% […]
Wynn slumps as high rollers stay away in Macau
Markets

It’s all going dark again in the gambling capital of the world

Wynn Resorts this week forecast doom for revenues in the gambling capital of the world, Macau. Some on Wall Street say the casino giant is being overly conservative, but economic indicators on mainland China tell a different story. We know that China’s economy is slowing dramatically, and one of the […]
It’s all going dark again in the gambling capital of the world
Markets

RANKED: The 29 richest countries in the world

Size doesn’t always mean wealth when it comes to the world’s richest countries, according to data published in April by the International Monetary Fund. Twice a year the IMF releases a huge dump of data about the economic power of the world’s nations, with gross domestic product (GDP) per capita […]
RANKED: The 29 richest countries in the world
News

And now it’s clear how China will exploit Steve Wynn’s moment of weakness

Macau authorities are concerned about allegations of sexual misconduct leveled against the billionaire casino mogul Steve Wynn. Expect this concern to translate into cash extracted from Wynn’s Macau properties, the crown jewels of his empire. The worst thing that could happen to Steve Wynn is most likely happening right at […]
And now it’s clear how China will exploit Steve Wynn’s moment of weakness
Markets

Shares in James Packer’s Crown casinos are taking a hit

Shares in billionaire James Packer’s Crown Resorts were sliding after report that a cap has been put on ATM withdrawals in Macau. A short time ago, the shares were down 6% to $11.29. The South China Morning Post reported that China UnionPay plans to cut in half the amount its […]
Shares in James Packer’s Crown casinos are taking a hit
News

The detention of Crown staff in China over alleged ‘gambling crimes’ has rattled the Asian gaming industry

Chinese authorities have launched a criminal investigation into staff at Crown Resorts and confirmed they have detained a number of Australians for gambling-related offences. Crown believes 18 of its staff, including three Australians, are being held, as other foreign casino operators, including Star Entertainment, scramble to safeguard their China-based staff. […]
The detention of Crown staff in China over alleged ‘gambling crimes’ has rattled the Asian gaming industry