Economy: News & Insights

Markets

Bond investors turn from China property to Macao casinos

Tourism recovery supports revenues but mainland's slow recovery still a concern

Junket agents return to lure VIPs to Macao's casinos

Macao casinos' reopening boost blunted by junket crackdown

16 November 2023

An MGM Cotai employee prepares for the opening of the casino in Macau, China. Investors are beginning to see Macau casinos' bonds as "promising."

Casino Lisboa in Macao is operated by SJM Holdings. First-quarter gaming revenue in the city got a boost from China's reopening, but uncertainties linger.

Travel & Leisure

Macao casinos' reopening boost blunted by junket crackdown

Recovery in gaming pushes up revenue but high rollers stay away

22 May 2023

Macao's landmark Casino Lisboa. The city's VIP gambling business suffered a sharp downturn during the pandemic.

Travel & Leisure

Macao slaps new tax on VIP gambling business

Junket operators say 5% levy on casino commissions will 'kill' sector

8 February 2023

A man walks in front of Macao's landmark Casino Lisboa. The gambling hub's casino-dependent economy was battered by the pandemic.

Travel & Leisure

Macao's casino economy woes deepen pandemic poverty

Bettors return to gambling hub's glitzy venues but rebound long way off

4 February 2023

China is set to announce on Tuesday GDP growth rates for the last quarter and the 2022 full year, along with other key economic data. In December it scrapped its zero-COVID strategy, which had weighed on growth.

Your Week in Asia

Davos 2023, China GDP, Chinese Lunar New Year starts

Your weekly lineup of Asia's biggest business and political events

15 January 2023

Macao has recorded around 1,500 COVID-19 infections since mid-June. Around 19,000 people are currently in mandatory quarantine.

Coronavirus

Macao gaming shares tumble as COVID outbreak shuts casinos

Over 30 venues will stay closed for a week; residents ordered to stay home

11 July 2022

The Macao government is seizing the chance to reset terms of engagement with the casino industry as operators have less than five months left on their operating concessions.

Travel & Leisure

Macao faces no resistance as it tightens leash on casino industry

Operator profits would widen with tamed market, analysts say

1 February 2022

Investors have been anxious for Macao to clarify whether it will change how many casino companies will be allowed to operate or alter key concession terms.

Economy

Macao to cut length of gaming concessions in half

City to keep casino operators at six, but reduce license term to 10 years

14 January 2022

The Venetian Macao hotel and casino in Macao. The city is looking to diversify its economy beyond gaming.

Technology

Macao rolls dice on tech boom with new IT trade show

Inaugural 'Beyond Expo' draws 300-plus companies to revitalize economy

3 December 2021

A croupier works at a gaming table at MGM Cotai Resort in Macau in February 2018: Japan is late to the party.

Opinion

China shows why Asia's casino bubble was always doomed

Other Japanese cities should follow Yokohama's decision to walk away

20 September 2021

China's Communist Party and the State Council announced a plan to develop a new "cooperation zone," managed by officials from Macao and Guangdong Province, to broaden the area's economy.

Caixin

China to diversify Macao's economy with Bay Area zone

Hengqin, Guangdong Province, will be site of in-depth cooperation

8 September 2021

The Casino Lisboa in Macao in December 2019. The territory's gaming industry has been hit hard by a drop in visitors from outside its borders.

Economy

Macao casino revenue sinks 79% as mainlanders stay away

Facilities reopen, but pandemic-related restrictions hinder business

6 January 2021

Delegates applaud as Chinese President Xi Jinping arrives for the opening session of China's National People's Congress at the Great Hall of the People in Beijing on May 22. (Xinhua via AP)

Politics

Xi's Hong Kong power grab deftly masks domestic shortcomings

With a single stroke, president shuts down critics in his party and justifies US tensions

23 May 2020

Closed shops in Singapore's Chinatown: The economic impact of coronavirus countermeasures is starting to show up in unemployment data.

Economy

Singapore and Japan jobless rates show coronavirus pain setting in

Over 7% of Asia-Pacific working hours to be wiped out in second quarter

29 April 2020

A child wears a mask in Thailand slum. The World Bank's forecast of a "third shock" could devastate economic growth and increase poverty across developing Asia. (Photo by Akira Kodaka)

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