Two Macau casinos received large loans from their US parent companies, helping them weather the latest COVID shutdown. Although, it may be US gamblers and shareholders who pay the price in the end. Last month, Wynn Resorts provided a $500 million revolving loan to Wynn Macau. Meanwhile, Las Vegas Sands […]
Macau casino stocks tanked this week after the arrest of 11 junket operators. Alvin Chau, Suncity Group Holdings’ CEO, was among those detained. The region’s casino stocks were already struggling due to new virus concerns, but the specter of more regulatory crackdowns pushed them lower still. During the ’08-’09 financial […]
Shares of casino stocks tanked on Tuesday after Macau announced it will revise its gambling regulations. In just one day, casino companies operating in the world’s largest gambling center lost roughly $18 billion in stock value. On Tuesday, Macau’s Secretary for Economy and Finance announced a 45-day consultation period for […]
In an industry-defining about-face, the Las Vegas Sands Corporation is likely to open online gambling operations this year, despite previous resistance from the company’s chairman Sheldon Adelson. But does the Sands have enough in reserve to reverse its decades-long, anti-online stance and spin up a viable online product? Adelson Created […]
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