Articles tagged “macau”

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.

1 month 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.

4 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.

5 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.

6 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.

7 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.

7 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.

8 months 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.

8 months ago

Hotels and Casinos Will Be Packed for Macau’s Upcoming Golden Week

Hotels and Casinos Will Be Packed for Macau’s Upcoming Golden Week

Daniela Wei, Bloomberg

More money from gamblers and less attention being paid to corruption is very good news for the city.

1 year ago

Macau’s Casinos Are Betting on Lunar New Year Travel to Boost Bookings

Macau’s Casinos Are Betting on Lunar New Year Travel to Boost Bookings

Lisa Pham, Bloomberg

The world's largest casino market could use some good fortune this year after suffering through challenging two years.

2 years ago

Wynn Resorts Misses Fourth Quarter Profit Expectations

Wynn Resorts Misses Fourth Quarter Profit Expectations

Associated Press

If Macau's revival continues, things could be looking much better for Wynn in 2017.

2 years ago

Steve Wynn Is Betting $4.2 Billion on His Latest Casino Resort

Steve Wynn Is Betting $4.2 Billion on His Latest Casino Resort

Christopher Palmeri and Daniela Wei , Bloomberg

Is there still demand for these mega resort-casinos in Macau? We'll see soon after the opening of Wynn Palace and The Parisian this fall.

2 years ago