Posts Tagged ‘Chinese tourists’

China closes high roller tap for Macau

February 17, 2022

With high rollers increasingly scarce, Las Vegas Sands subsidiary Sands China is betting that fake London, alongside fake Venice and Paris, will bring in crowds . (Photo provided by Sands China)

For years, a key question overhanging Macau has been how long will China tolerate hundreds of billions of dollars annually exiting the mainland via Macau casino VIP rooms. “No longer,” mainland authorities broadcast with the arrest of Suncity chairman Alvin Chau, precipitating the rapid collapse of Macau’s junket business.

Macau may still be the best bet in Asian gaming, but it’s now a whole new ballgame. No more debating about whether mainland China’s efforts to curtail overseas gambling and money transfers apply to Macau.

Mainland high rollers can still gamble millions in Macau. Without junkets, though, they’ll have to find their own means to skirt China’s currency controls. And they’ll know exactly how Beijing feels about their activities.

Former US diplomat and broadcast news producer Muhammad Cohen is a columnist for ICE 365, a contributor to Forbes, columnist/correspondent for Asia Times, and author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com; follow him on Facebook, Twitter @MuhammadCohen and LinkedIn.

NagaCorp maps new growth spurt

March 29, 2020

A quarter century after starting with casino on a barge, NagaWorld in Phnom Penh will add thousands of rooms and more in its Naga3 expansion, plus a new casino resort in Russia.

Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is a editor at large for Inside Asian Gaming, contributor to Forbes, columnist/correpsondent for Asia Times, and author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com; follow him on Facebook and Twitter @MuhammadCohen.

Hong Kong protests put Macau, Beijing on edge

September 5, 2019

Even though there’s little direct impact on tourism and gaming numbers, continuing Hong Kong protests make Beijing and Macau nervous. The world’s largest casino hub relies on mainland China for the vast majority of player revenue, and Beijing decisions regarding Hong Kong will make waves in Macau.

Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is a blogger for Forbes, editor at large for Inside Asian Gaming and author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com; follow him on Facebook and Twitter @MuhammadCohen.

Cambodia border casino hub extends ambitions

March 22, 2018

Poipet, the Cambodian border casino hub closest to Bangkok, caters to Thais. Australia listed Donaco International’s DNA Star Vegas, Poipet’s market leader, hopes to broaden the enclave’s appeal beyond the Thai market.

Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is a blogger for Forbes, editor at large for Inside Asian Gaming and author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com; follow him on Facebook and Twitter @MuhammadCohen.

VIPs drive Macau to big May

June 10, 2017

Revived high roller revenue led Macau’s 24% casino revenue rise in May. But long term opportunities still lie in the mass market.

Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is a blogger for Forbes, editor at large for Inside Asian Gaming and author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com; follow him on Facebook and Twitter @MuhammadCohen.

The Philippines fights back

May 17, 2017

In a turbulent 2016, the Philippines crossed the US$3 billion barrier and was the fastest growing major gaming market in Asia. Resort expansion continues in a market that sees room to grow in the domestic and international segments, but is not dependent on Chinese visitors.

Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is a blogger for Forbes, editor at large for Inside Asian Gaming and author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com; follow him on Facebook and Twitter @MuhammadCohen.

Macau casinos soar on strong VIP play

March 10, 2017

Aided by Chinese New Year crowds, February was Macau casinos’ best month in two years. Despite the much-discussed pivot toward mass tourism, VIP play is again leading revenue growth, though some doubt the trend’s sustainability.

Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is a blogger for Forbes, editor at large for Inside Asian Gaming and author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com; follow him on Facebook and Twitter @MuhammadCohen.

Transportation changes alone won’t move Macau

March 5, 2017

Multi-billion dollar transportation improvements aren’t enough to reshape Macau. The casino capital needs policy changes, too, to shift direction.

Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is a blogger for Forbes, editor at large for Inside Asian Gaming and author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com; follow him on Facebook and Twitter @MuhammadCohen.

‘Barefoot Doctor’ turns Saipan casino billionaire

March 3, 2017

In a journey from China’s countryside to an American speck in the middle of the Pacific, Cui Lijie has become a billionaire as majority owner of US territory Saipan’s casino through Hong Kong listed Imperial Pacific International Holdings.

Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is a blogger for Forbes, editor at large for Inside Asian Gaming and author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com; follow him on Facebook and Twitter @MuhammadCohen.

Macau comeback reflects new focus

December 8, 2016

Beyond resilient high roller revenue, Macau’s comeback shows a shift to more general tourism. But as a tourist destination, Macau remains a work in progress.

Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is a blogger for Forbes, editor at large for Inside Asian Gaming and author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com; follow him on Facebook and Twitter @MuhammadCohen.


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