Archive for the ‘Macau Casinos News’ Category

High Court of HK, Lawsuits Vs. Gamblers

Friday, January 25th, 2013

The Venetian Macau casino that is owned by Sheldon Adelson, the U.S. billionaire is legally pursuing two high rollers who used to play at the casino. One of these high rollers is one of China’s parliament delegates. The casino is suing them for gambling debts that amounted up to HK$34 million which translates into 4.4 million U.S dollars.

The casino filed two separate lawsuits in the High Court of HK earlier this week. The first lawsuit is filed against Zou Yunyu, a businesswoman from Shanghai, the casino is seeking to recover her gambling debts that amounted up to HK$23 million. As for the other lawsuit, it is filed against the parliament delegate, Xie Xiaoqing for the recovery of over HK$11 million. According to the casino, the two gamblers asked the casino for money & borrowed it in gaming chips and never paid back.

The Chinese VIP casino gamblers go to Macau for their gambling needs due to the fact that the Island of Macau is the only place in the country where gambling is legal. Although this helps increasing the revenues for the island’s casinos, since it is the only place that offers legal gambling services, they have to run their business with the risk of losing their debts.

This is because as soon as the gamblers who borrowed money from the casino return to China, the casinos will not be able to recover these debts because the Chinese courts do not recognize such debts.

Win a Trip to Macau With The Mr Green Casino Promotion

Thursday, November 8th, 2012

Mr Green Online Casino is currently running a promotion for new depositing players.  This November is your chance to get to Macau for Free with Mr Green.  VegasParadise.com has more information regarding this promotion.

The Macau promotion is available for depositing players at the online casino.  Anyone making a deposit to the casino before November 18, will automatically be entered into the contest.

Don’t miss your chance to experience Macau firsthand.

 

 

 

Wynn Doubles Down on Macau

Tuesday, June 19th, 2012

Steve Wynn, chairman of Wynn Resorts has stated that he plans to invest another four billion dollars into another casino property in Macau.  Even with the recent slowing of gambling in Macau, the overall growth is still in line with years past.

The Las Vegas Sands is also planning to continue their expansion in Macau.  Many feel that because China’s economy is slowly winding down from its recent boom, that lenders in Macau may not so freely invest in gaming ventures. Essentially, Wynn Resorts and the Sands would be a private stimulus package for Macau.

However, many feel that Macau still has some good days ahead.  Because, Macau is the only place with legalized casinos in China and still holds the title of the world’s top casino hub it should remain as a source of profit for years.

Casinos and Gambling

Wednesday, April 13th, 2011

macau casinosMacau casinos are known for bringing in the high rollers, even more so than Las Vegas. If high rollers go to Las Vegas to gamble, then the mega-high rollers are only found in Macau Casinos. The largest casino located in the city is the Sands Macau.

China continues to put money into Macau because the benefits of bringing international travel to the casinos is a tremendous boon to the Chinese economy. More travelers from across the globe are expected to go to Macau this year.

One Las Vegas High Roller, Dunston Travers stated “There’s money to be had in Macau, the people are nice, never met anyone friendlier to an American than the people in Macau.” The general consensus is that the city offers extreme hospitality, great food and beautiful casinos. There is a large American Casino presence in the city. Some of the famous names of casinos seen on the strip in Las Vegas can also be found in here.

Galaxy Misses Profit Target

Saturday, April 2nd, 2011

Galaxy Macau CasinosIt was back in 2006 when the small island of Macau surpassed Las Vegas in gambling and gaming profits. Since then the special administrative region of China has continued to increase profitability. However, the profits are larger for some than for others.

The Galaxy Entertainment Group, who operates the Galaxy Macau and other small gambling institutions, did not quite meet their forecasted profits. The company, which is responsible for the control of just shy of 15 percent of the entire gaming market, presented a decline in the past year. Representatives are blaming the decline in profit to accounting changes that were made.

Galaxy has reported that the year 2011 should show significant improvement in profit. The accounting changes blamed were only a one-time change, and should no longer affect their forecasted income. The company also plans on opening a new casino resort in the middle of May this year, which will boost profits.

Hong Kong Gambling Location

Tuesday, February 15th, 2011

Macau is a special region of the Republic of China, much like Hong Kong and has had legalized gambling since the middle of the 19th century. Currently, gambling as well as tourism makes up a very large portion of the revenue produced by this territory.

Macau Hotel Hong Kong

Many of the gamblers that come to Macau Hotels and Casinos are from inland China and Hong Kong, although there is some international tourism as well. Many of the casinos only played Chinese style gambling games until around the 20th century when more Americanized games began to be seen.

The gambling revenue of the Las Vegas strip has come in second to the yearly revenue generated by Macau Casinos for the past 3 years. In addition to gambling games, horse racing, greyhound racing and sports betting are all available. The government reports over 200 gambling houses are being run, and each are required to pay “rent” to the Chinese government.

Wynn Hotel and Casino

Thursday, February 10th, 2011

There has been great success for Las Vegas based casinos and gambling corporations who have set up locations in Macau. This is especially true since in 2007 the gambling revenue of the Chinese territory outranked the gambling revenue of the major casinos on the Las Vegas Strip. The Wynn gambling and Macau hotel corporation is only one of the many that have benefited from this success.

Wynn Macau Hotel

Wynn Macau Hotel is a very large gambling casino and hotel complex that also features restaurants and a convention area. There is over 200,000 square feet of casino floor, a 600 room hotel, five different high quality restaurants and even 26,000 square feet of retail space.

The Casino

The casino was made with every luxury in mind is filled with the highest quality entertainment and features including a jellyfish aquarium, a “prosperity tree” atrium and a performance lake that lights up and at times emits fireworks and water shows.

Sands Hotel and Casino

Wednesday, February 9th, 2011

Many Las Vegas gambling institutions have created counterparts in the very popular Asian gambling location Macau. Macau is a special territory of China that has allowed gambling for almost 200 years. In 2002 the Government allowed outside gambling companies to build and operate casinos.

Sands Macau Hotel

The Sands Hotel Casino is a sister casino to the Las Vegas Sands Corporation. The hotel houses only fifty one suites although does boast over 200,000 square feet of gambling and casino space. The small Macau hotel is likely due to the fact that the island is seen as a day trip location for locals, rather than an overnight visit.

The Hotel

The Macau hotel is one of the many Las Vegas based enterprises that have been established and built since 2002, all of which have been immensely more profitable than the companies Las Vegas counterparts. Experts expect the higher gambling revenue in Macau to almost double in 2010 in comparison with Las Vegas Strip casinos.

One Of Las Vegas’ MGM’s Top Executives Headed For Retirement

Wednesday, November 19th, 2008

J. Terrance Lanni (who is 65) and a top executive with MGM is headed for retirement at the end of November. The news does not come as a surprise as he was even planning for a possible retirement at this time last year. Lanni is ready to step down from his role and let someone from a younger generation take the ropes and lead the way.

After a long career with MGM, Lanni is ready to take some time to himself and his family. Also, when asked in a recent Las Vegas interview Lanni said that he believes that most of the challenges that are facing the MGM brand and company today would be better resolved with a younger mind and someone that was part of those seeking Las Vegas entertainment today.

While Lanni is leaving other execs and majority share holder Kirk Kerkorian with a good taste in their mouths, he is also leaving them at one of the worst financial times that Vegas and the entire American economy has ever faced.

MGM, as well as many other Vegas based shares are at the lowest of lows and resorts have not experienced such a scarce amount of visitors in a very long time. The only light at the end of the tunnel seems to be that of the next train crash. Lanni’s successor will have a great challenge ahead of him as he faces a down-turning and the lack of visitors in Las Vegas.

Penthouse Looking to Own a Las Vegas Casino on the Strip

Wednesday, November 19th, 2008

The CEO of the Penthouse organization of websites and magazines is looking to acquire a centrally located Casino on the Las Vegas Strip. Marc Bell (the CEO) has mentioned to several Las Vegas news station that he would love to pick up a location to add a new spin to his company.

With the economy slowing down, Bell envisions that this would be the best time to invest in real estate and pick up a casino along with some strip presence for Penthouse. Bell did mention that he does not have plans to knock down a whole casino and have the Penthouse name flashing above in bright sparkling lights. But instead he would like the organization to hold the rights to the casino and pool areas where he can have pin up girls as casino dealers and strippers throughout the pool area – if that were to become legal.

Several issues naturally come to mind with this acquisition. Would this hotel be an adult only venue? Would this be the start of Vegas reverting back into a true city of sin? Could a hotel like this really be located in the center of the strip? I guess we will have to wait and see.

Penthouse started out as men’s magazine which is currently owned by Penthouse Media Group. The magazine was founded in the UK and later moved to the US where the company built an empire of websites, magazines and a newly launched TV channel.