HONG KONG, Aug 5 (Reuters) – Disgruntled casino workers are
becoming a costly thorn in Macau’s side.
As the Chinese territory races to build eight new resorts in
the next three years, labour strains look set to intensify:
workers are demanding higher pay and threatening strikes at a
time when operators face a labour shortage.
HONG KONG, June 4 (Reuters) – Global investors are paring
their bets on stocks geared to Macau, the world’s casino
capital, after a raft of regulatory curbs sparked concerns about
slowing revenue growth in the next few months.
Macau, a special administrative region like neighbouring
Hong Kong, is the only place in China where citizens can legally
gamble in casinos, and analysts say its growth prospects in the
longer term remain strong, due to its proximity to the mainland.
Eight new resorts are also set to open within three years.
HONG KONG, May 29 (Reuters) – The top official in Macau, the
world’s gambling capital, said on Thursday a bill providing
lavish perks for senior civil servants would be withdrawn days
after the largest protest in the enclave since China restored
control over it in 1999.
The climbdown represents the first time the government has
taken heed of a large civic movement in Macau, a former
Portuguese territory with autonomy and provisions for free
speech much like neighbouring Hong Kong.
HONG KONG, May 28 (Reuters) – U.S. fund manager Waddell &
Reed Financial Inc said Wednesday it raised $1.38
billion by selling its remaining stake in Macau-based Sands
China Ltd, and shifted most of its holdings to parent Las Vegas
Sands to boost its global gaming exposure.
The sell-down comes as Macau gaming stocks face pressure due
to a raft of negative news, after clocking a scorching pace of
growth over the past two years.
MACAU, May 16 (Reuters) – Macau authorities have urged banks
to restrict the use of China’s state-backed bank card at some
retail outlets of casinos in the world’s largest gambling hub, a
person with direct knowledge of the situation told Reuters, in a
bid to curb increasing amounts of illegal capital outflows from
The crackdown follows a Reuters investigative report in
March that highlighted the illegal use of UnionPay cards to
obtain cash through fake purchases of goods in Macau to evade
China’s strict currency-export controls.
OSAKA/TOKYO (Reuters) – Moves towards legalizing casinos in Japan have reignited a debate over the legal status of pachinko, with a potential new tax mooted for a $200 billion gaming industry that has existed for decades on the fringes of the law.
Pachinko, a slot-cum-pinball form of gambling, is a national obsession, with one in six Japanese playing the game, though that number is declining as younger generations prefer to play games on their mobile phones.
OSAKA/TOKYO, May 11 (Reuters) – Two U.S. billionaires are
betting on rival cities, Tokyo and Osaka, to be the first in
Japan to open casino resorts – once the government gives the
go-ahead to legalise gambling.
Japan is one of the world’s last untapped gaming markets and
could become the third largest gambling destination after Macau
and the United States, with annual revenue of over $40 billion,
according to broker CLSA.
HONG KONG, May 8 (Reuters) – Macau officials and China’s state-backed
payment card network have cracked down on the use of bogus transactions to
circumvent China’s exchange controls for gambling in the territory.
The crackdown follows a Reuters special report in March that highlighted the
illegal use of UnionPay cards to obtain cash through fake purchases of goods in
Macau to evade China’s strict currency-export controls.
TOKYO, April 8 (Reuters) – Pachinko hall operator Dynam
Japan Holdings Co is in talks with several Asian
casino operators to build a casino in Japan as the country’s
parliament prepares to debate a bill that would legalise casino
gambling for the first time.
Yoji Sato, Dynam’s chairman and one of Japan’s wealthiest
businessmen, said the company wants to announce a partnership
with an Asian operator once an initial bill that will start the
process of legalizing gambling is passed in what could become
the world’s third biggest gambling market.
MACAU, April 7 (Reuters) – As the world’s gambling capital
Macau races to open more than 17,000 new hotel rooms over the
next three years to keep pace with a flood of Chinese visitors,
only about 4,000 affordable homes for locals are expected to be
built in the same period.
With an average apartment costing more than $500,000, the
Chinese special administrative region has emerged as one of the
world’s costliest places to buy property, outranking
neighbouring Hong Kong, where prices are already among the most
expensive in the world.