13-Oct-09. Shares drop on news Macau may limit casino expansions. Calgary Herald, D2.

The former Portuguese enclave of Macau is considering rules that might impose limits on table numbers and raise age limits for casinos according to the city’s official website. On Monday, the Macau Secretary for the Economy and Finance said all six major casino operators agreed broadly during a meeting that casino expansion should not be limitless. Major U.S. gambling operators have benefited from a surge in visitors to the island just an hour’s ferry ride from southern China and  Hong Kong.

31-Jan-09. Asia’s Sin City pays the price as mainland Chinese lose their stakes. Globe and Mail, F1.

This in-depth article examines the downturn affecting the gambling industry in Macau, China. This former Portugese colony, which for the past decade has been the booming Sin City of East Asia, is the only place in China where gambling is legal.  Most of Macau’s gamblers come from north and central China and it is reported by local gaming workers that there are fewer of them now than at any other time in the past 17 years. A slowdown in casino VIP rooms – which account for two-thirds of all casino revenues in the city – translates into a crisis for Macau, which draws upwards of 70 per cent of its taxes from the gambling industry.

3-Jul-08. Las Vegas Sands may borrow US$7B. National Post, FP10.

Las Vegas Sands Corp., the world’s largest casino company by market value, may borrow US$7-billion to expand and refinance debt for projects in Macau. The loan will help fund US$12-billion in spending on a 20,000 room complex of hotels and casinos in Macau, the only region in China where gambling is legal.

24-Apr-08. New casinos run out of luck. National Post, FP12.

Edmund Ho, Macau’s chief executive, announced that no land would be allocated for the building of new casinos in the enclave and the number of casino licences would not be increased.  There have been mounting social tensions in the enclave and perceptions of endemic graft linked to the gambling boom. Ho said that these policies stemmed in part from the wishes of Beijing. 

24-Apr-08. Macau to halt casino growth following protests. Globe and Mail, B11.

The government of Macau has indicated that it will stop granting new casino licences, limiting the the number of operators to six for the time being. The number of Macau casinos has more than doubled to 29 since the government ended billionaire Stanley Ho’s 40-year gaming monopoly. 

23-Apr-08. Macao slows casino growth. Calgary Herald, D1.

Macao, a special administrative region of China and world’s largest gambling centre, has announced that it will rein in the industry by halting the issue of new licenses and freezing land allocations for the constuction of additional casinos.

5-Sep-07. For Macau, a bet on lady luck is a bet on China. Globe and Mail, B9.

This article reports that Macau surpassed China last year as the world’s number one gambling location. In the past decade, the number of visitors to Macau has tripled to more than 22 million and is expected to hit 36-million by 2010. Merrill Lynch estimates that $20-billion in new capital will come into Macau between 2007 and 2010.

6-Jun-07. Chinese ban gambling, girls, gifts for officials. Calgary Herald, A22.

The Zhejiang province in China has imposed regulations on officials going abroad.  The government will prohibit its officials from visiting gambling establishments, seeing sex shows or other “low-class” entertainment, and accepting gifts while overseas.  Gambling has become an increasing problem for the Chinese government over the past few years; one mayor lost $14.8 million visiting the gambling tables in Macau.

26-Oct-06. Macau supplants Las Vegas as top gambling location. Globe and Mail, B10.

Leisure industry consultancy Globalysis Ltd. estimates that casino revenues from Macao have now overtaken those of Las Vegas, Nevada. Gambling earning have boomed in Macau since 2001 when the government ended tycoon Stanley Ho’s 40-year monopoly on casinos in the city and allowed foreign operators. Growth has been fuelled by a rise in tourism from China.

8-Sep-06. Macau casino operator eyes Japan, Thailand as Asian gaming bans relax. National Post, FP2.

Wynn Resorts Ltd., which opened a U.S. $1.2-billion casino in Macau this week, will explore expanding into Japan or Thailand if they legalize casino gambling according to company founder Stephen Wynn. Singapore ended a 40-year casino ban last year and Asian countries such as Japan are considering lifting similar prohibitions.