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Genting Hong Kong has reached a financing accord with creditors under which it will receive EUR300 million ($362.2 million) in new funding and the renegotiation of interest and maturities on existing debt.
China has investigated 18,000 cases of cross-border gambling and apprehended more than 110,000 people since 2020 and says it's reversing the rising trend, according to the Ministry of Public Security.
Macau's hotel occupancy during the May Golden Week holiday reached more than 80 percent, better than tourism authorities expected.
The Macau government is set to hold a consultation session with legislators later this month (May 17) to discuss future new gaming concessions.
Analysts from swiss bank UBS have upgraded its rating for the Macau gaming sector to “buy”, noting that upside potential from China’s pent up demand has not been fully factored in.
The average daily number of tourists to Macau during the Golden Week holiday was 37,000, which is a gain of nearly 40 percent from April's average daily arrivals, according to official figures.
Macau's mass gaming market is likely to grow in the high single digits from 2022 once the pandemic eases, but growth going forward will depend on the ability to bring new attractions and products online, industry experts on a gaming panel said.