Nitin Mehta

Strong Q3 results for Las Vegas Sands and what that means for other casino operators with a footprint in Asia

Las Vegas Sands (LVS), the world’s leading developer and operator of convention-based integrated resorts, released its Q3 results for the quarter ending on September 30th, 2023. After completing the sale of its Vegas properties including The Venetian, Palazza, and Venetian Expo for $6.25bn in 2022, the Group’s focus is solely on Macau and Singapore properties. Their quarterly results are therefore a good indicator of the direction of the Asian gaming market and a bellwether for Casino operators with a footprint in Asia. If you want to get an overview of the key figures without having to go through the full results announcement, read on!

Strong Q3 results for Las Vegas Sands and what that means for other casino operators with a footprint in Asia Read More »

3,700 Detroit casino workers go on strike against MGM, MotorCity & Hollywood

Thousands of Detroit casino workers are now on strike after the Detroit Casino Council and MGM, Hollywood Casino and MotorCity Casino could not come to an agreement.The Detroit Casino Council represents the 3,700 casino workers across five unions – UNITE HERE Local 24, United Auto Workers, Teamsters Local 1038, Operating Engineers Local 324 and the

3,700 Detroit casino workers go on strike against MGM, MotorCity & Hollywood Read More »

The Evolution of the Las Vegas Strip: From Gambling Mecca to Entertainment Paradise

The Las Vegas Strip, a legendary stretch of road in the heart of the Nevada desert, has long been synonymous with gambling. For decades, it drew visitors from around the world with the promise of slot machines, poker tables, and the chance to strike it rich. However, over the years, the Las Vegas Strip has undergone a remarkable transformation, shifting its focus from being solely a gambling destination to becoming a multifaceted entertainment paradise. Case in point being MGM, home to iconic properties like Bellagio, MGM Grand, Mandalay Bay, The Mirage, Luxor and New York-New York. Although gaming is what MGM is known for, over half of its domestic net revenues are generated via non-casino operations like food and beverage, hotel, and entertainment. This article chronicles the captivating journey of the Las Vegas Strip’s evolution and delves deeper into the valuable lessons that other casino heartlands can glean from its successful transformation.

The Evolution of the Las Vegas Strip: From Gambling Mecca to Entertainment Paradise Read More »

Macau welcomed post-pandemic high of 158,726 visitor arrivals on Saturday in strong start to Golden Week

Macau welcomed a post-pandemic high of 158,726 visitor arrivals on Saturday, up 473% year-on-year in what was a promising start to this year’s eight-day Golden Week holiday period.According to figures from the Public Security Police Force, this took the total number of arrivals for the first two days of Golden Week to 246,815 after there

Macau welcomed post-pandemic high of 158,726 visitor arrivals on Saturday in strong start to Golden Week Read More »

September Storm Rattles Macau, Gaming Revenue Drops 13 Percent

Macau readied for a significant storm in early September that resulted in the local government ordering its six casino operators to temporarily shutter their resorts. Macau’s Gaming Inspection and Coordination Bureau released September gaming revenue numbers for the six operators in town. September gross gaming revenue (GGR) totaled MOP14.93 billion (US$1.85 billion), a more than

September Storm Rattles Macau, Gaming Revenue Drops 13 Percent Read More »

Global Online Gambling & Betting Market is Anticipated to Reach US$ 182.2 Billion by 2031, Expanding at an 11.5% CAGR: TMR Report

The online gambling & betting market acquired a valuation of US$ 62.0 billion in 2021. It is anticipated to register an 11.5% CAGR from 2022 to 2031 and by 2031; the market is likely to gain US$ 182.2 billion. Real-time, in-play betting is gaining traction as bettors seek more dynamic and engaging experiences. It allows users

Global Online Gambling & Betting Market is Anticipated to Reach US$ 182.2 Billion by 2031, Expanding at an 11.5% CAGR: TMR Report Read More »