Articles tagged “macau”

Macau Sees Strong Chinese Arrivals But Is It a Real Boom?

Macau Sees Strong Chinese Arrivals But Is It a Real Boom?

Daniela Wei, Bloomberg

The good news for Macau is the week-long Chinese New Year holidays brought nearly 900,000 visitors from the mainland. The bad news is many were day-trippers checking out a new bridge and leaving without spending much, or at all.

1 month ago

Macau Casino Revenue Drops for First Time Since 2016

Macau Casino Revenue Drops for First Time Since 2016

Daniela Wei, Bloomberg

Macau's gaming tables are a decent indicator of how hard China's economic slowdown and trade tensions are hitting Chinese consumers. January's revenue figures show a softer-than-expected blow, reaffirming earlier views by casino resorts that China anxiety is overplayed.

1 month ago

400 Million Chinese Will Be Traveling During Lunar New Year

400 Million Chinese Will Be Traveling During Lunar New Year

Daniela Wei and Bruce Einhorn, Bloomberg

Despite the economic uncertainties in China, more people are expected to travel both domestically and internationally during the Lunar New Year holiday. Sure, downturns will definitely hurt the sector — but as someone at InterActiveCorp/Expedia once said, travel is life.

2 months ago

Macau Casino CEO Claims Analysts Overreacting With Negative Forecasts

Macau Casino CEO Claims Analysts Overreacting With Negative Forecasts

Daniela Wei, Bloomberg

Either Melco Chief Executive Officer Lawrence Ho knows something most other people don't about the Macau market or he's spinning a tale.

2 months ago

China’s Slowdown Is Driving Away Some of Macau’s High Rollers

China’s Slowdown Is Driving Away Some of Macau’s High Rollers

Daniela Wei, Bloomberg

The Macau casino stock index has slumped to its lowest level in a year. No wonder. Deutsche Bank has cut its 2019 outlook for casino revenue to 4 percent, from 11 percent, as China feels the pressure of the trade war and other factors.

6 months ago

Trade War Threat Is Hurting Travel to Macau’s Casinos

Trade War Threat Is Hurting Travel to Macau’s Casinos

Daniela Wei, Bloomberg

Chinese gamblers' worries about a simmering trade war risk denting Macau’s $30 billion casino industry. Hotels and restaurants in Macau are priced in Hong Kong dollars or Macau patacas, which will become costlier if the yuan depreciates.

9 months ago

WeChat to Smooth China’s Border Process for Travelers Between Hong Kong and Mainland

WeChat to Smooth China’s Border Process for Travelers Between Hong Kong and Mainland

Lulu Yilun Chen, Bloomberg

When people pass between Hong Kong, Macau, and mainland China, they have to present border documents, called permits. A new feature on the popular WeChat app could replace the need for the documents someday, according to a proposal. Here's hoping.

10 months ago

China Pushes Back on U.S. Chiding Over Its Order for Airlines

China Pushes Back on U.S. Chiding Over Its Order for Airlines

Bloomberg

The U.S. went there — yes, a George Orwell jab at China's order that airlines should not refer to Macau, Hong Kong, and Taiwan as countries. The trade war gamesmanship is never boring.

11 months ago

The Prospect of China Opening Up Hainan to Gambling Could Impact the Global Travel Industry

The Prospect of China Opening Up Hainan to Gambling Could Impact the Global Travel Industry

Bloomberg

The issue of opening up Hainan to gambling could have a huge impact if it signals more broadly that China wants to turn more inward and keep its growing middle class traveling at home rather than abroad.

11 months ago

Wynn Resorts Competitor Obtains 5 Percent Stake as Steve Wynn Cashes Out

Wynn Resorts Competitor Obtains 5 Percent Stake as Steve Wynn Cashes Out

Christopher Palmeri, Bloomberg

Wynn Resorts competitor Galaxy Entertainment now has an inside track to pick up the pieces of the rubble that Steve Wynn left in his wake.

12 months ago

Hong Kong Disney Is Losing Chinese Tourists as Macau Surges

Hong Kong Disney Is Losing Chinese Tourists as Macau Surges

Daniela Wei , Bloomberg

Hong Kong Disneyland is facing greater competition both from Macau, which is improving its family offerings, and from Shanghai Disney Resort. Disney and the Hong Kong government are spending $1.4 billion on an expansion to the theme park, which should attract more visitors.

1 year ago

Getting Rid of Steve Wynn Could Help the Gaming Company in Giant Macau Market

Getting Rid of Steve Wynn Could Help the Gaming Company in Giant Macau Market

Daniela Wei and Bruce Einhorn, Bloomberg

The new license was going to be tough, and Wynn's behavior would have been a factor. The hotel giant needs to make sure it has serious and talented management in place now that he's gone – he can't be secretly operating behind the scenes.

1 year ago