Galaxy Entertainment Group’s upcoming Phase 3 and 4 of the Galaxy Macau resort will enhance its ability to gain market share in Macau, according to Credit Suisse analysts. The new amenities and increasing connectivity between the resort’s phases should underpin the company’s long-term growth, while the addition of non-gaming elements and capacity will further strengthen its position. Phase 3 will introduce a Raffles hotel, Andaz Macau hotel, and a Galaxy International Convention Center, while Phase 4, expected to open in 2025, is seen as more lifestyle-focused. Upon completion, there could be increased connectivity between all phases, the analysts said.

The state of Virginia experienced a slight decline in casino activity compared to February, with two casinos bringing in a total of $37.4 million in adjusted gaming revenue during March. The Rivers Casino Portsmouth contributed $23.6 million, while the Bristol Casino added $13.8 million. Slot revenue accounted for $27.8 million, with table games revenue contributing more than $9.5 million. Virginia’s casinos paid out more than $6.7 million in taxes to the state, including distributions to the Problem Gambling Treatment and Support Fund, the Family and Children’s Trust Fund, and the host city. The Virginia Lottery, which oversees sports betting and other wagering outlets, recently achieved a milestone by becoming the first US lottery to operate its iLottery via a cloud-based program, powered by NeoPollard Interactive’s […]

According to Macau’s Gaming Inspection and Coordination Bureau, Macau’s gross gaming revenue (GGR) in the first quarter of 2023 reached about 45 percent of pre-Covid levels, with mass-market GGR at about 67 percent of 2019’s level, while the VIP segment only rose to 23 percent. The overall GGR rose to MOP34.6 billion ($4.3 billion) in the first quarter of 2023, up 95 percent from a year earlier, compared with MOP76.2 billion in the first quarter of 2019. Macau’s Secretary for Economy and Finance, Lei Wai Nong, recently revealed that Macau welcomed more than 98,000 tourists on Saturday, April 15th, and visitor arrivals in Macau this year have recovered to about 58 percent of pre-COVID levels. The gaming operators in Macau have pledged to spend in […]