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Macau’s Draft Gaming Bill Outlines Tighter Control of Casinos, Junkets

The HALLO ECHO The HALLO ECHO https://secure.gravatar.com/avatar/9019cb49f8ca42953ce7d3f0d64568ea?s=96&d=mm&r=g January 20, 2022 January 20, 2022

By: The HALLO ECHO

January 20, 2022

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Macau’s Legislative Assembly has published the draft of a highly anticipated gaming bill on Tuesday that gave details on the Chinese territory’s goal of tightening its grip on casino firms and reining in so-called junket operators. The proposed changes, which need legislators’ approval to become law, mark the biggest reform in two decades for…

SJM Expects Casino Licence Renewal for Ten Years

The HALLO ECHO The HALLO ECHO https://secure.gravatar.com/avatar/9019cb49f8ca42953ce7d3f0d64568ea?s=96&d=mm&r=g September 24, 2021 September 24, 2021

By: The HALLO ECHO

September 24, 2021

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SJM Holdings is expecting that the authorities will extend its gaming licence beyond the current expiration date of June 26, 2022. It expects the extension won’t be for twenty years but for around ten years. During an investor meeting, the company said that the concession length would be longer than five years yet more…

Las Vegas Sands Faces $12B Lawsuit in Macau Court

The HALLO ECHO The HALLO ECHO https://secure.gravatar.com/avatar/9019cb49f8ca42953ce7d3f0d64568ea?s=96&d=mm&r=g June 11, 2021 June 11, 2021

By: The HALLO ECHO

June 11, 2021

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Las Vegas Sands is facing a $12 billion lawsuit in a Macau court. Sand’s former partner Asian American Entertainment Corporation, which is controlled by Taiwanese businessman Marshall Hao, alleges that Sands breached their contract in order to obtain a casino license in Macau. Hao is seeking damages of around 70% of Sands’ Macau profits…