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MGM Resorts stock jumped 15.8% after strong Q4 earnings and the announcement of an April 24th groundbreaking for the MGM Osaka integrated resort . MGM Resorts saw a significant stock price surge Thursday following a strong Q4 earnings report and the announcement of an April 24th groundbreaking ceremony for its highly anticipated MGM Osaka integrated resort . MGM Resorts stock soared 15.8% on February, hitting its highest point since late October.The positive financial results, coupled with concrete progress on the multi-billion dollar Japan development, fueled investor enthusiasm and drove the stock higher. This comes after MGM Resorts International chief executive Bill Hornbuckle announced major updates for the company's current and upcoming properties, including what would be Japan's first integrated resort, MGM Osaka.  Hornbuckle announced that the IR will break ground on April 24, 2025. "[MGM] Osaka is advancing as planned, ground preparation is targeted for completion this year, with main construction set to commence shortly thereafter. The official ground breaking ceremony is scheduled for April 24th.," Hornbuckle said in a fourth-quarter earnings call.  Meanwhile, MGM Resorts reported positive Macau traffic, exceeding last year's Chinese New Year figures by 18%.  Their partnership with Marriott has been highly successful, with over 660,000 room nights booked in 2024 and increased spending.   Analysts are bullish, citing MGM's growth potential through BetMGM, MGM Digital, and the Japan resort.  Price targets have been raised, with analysts highlighting MGM's core business strength, share repurchases, and long-term growth prospects. Construction of MGM Osaka, a massive project estimated at around PHP 645 billion (approximately USD 8.07 billion), began in October 2024 on Yumeshima Island, Osaka Bay. The Osaka IR District Development Plan anticipates a grand opening in autumn 2030. The resort's centerpiece, located in "section B" (a 101,713 square meter area), will be a 27-story building with one basement level and a total floor area of 527,320 square meters. This main building will house a luxury hotel, a state-of-the-art casino, a theater, high-end retail shops, and diverse dining optione.  The building's design was created by a joint venture between Takenaka Corporation and Nihon Sekkei Inc. Read related article:   BETBY Showcases Sportsbook at Brazil Events

Wynn Resorts Q4 2024 earnings: Strong Wynn Palace performance partially offsets challenges at Wynn Macau, resulting in mixed overall results. Wynn Resorts' fourth-quarter and full-year 2024 earnings revealed a mixed picture, with strength at Wynn Palace partially masking significant challenges at Wynn Macau.  While Wynn Palace demonstrated growth, declines in revenue and adjusted property earnings before interest, taxes, depreciation, amortization, and restructuring (EBITDAR) at Wynn Macau ultimately impacted the company's overall Macau performance and contributed to a less robust quarter.  Wynn Palace provided a bright spot in Q4 2024. Operating revenues increased by approximately ₱2.12 billion (approximately $36.7 million), reaching approximately ₱30.96 billion (approximately $536.5 million). Adjusted Property EBITDAR also saw growth, rising to approximately ₱10.15 billion (approximately $176 million) from approximately ₱9.41 billion (approximately $163 million) in Q4 2023.  This positive performance was driven by a strong mass market table games win percentage of 26.0%, exceeding the 23.6% seen in the same period last year. VIP table games win percentage also outperformed expectations and the previous year's results, landing at 3.51%.  Wynn Macau experienced significant challenges in the fourth quarter, acting as a key factor in the company's overall performance. Operating revenues decreased by approximately ₱1.24 billion (approximately $21.5 million), totaling approximately ₱20 billion (approximately $346.5 million). Adjusted Property EBITDAR also declined, falling to approximately ₱5.95 billion (approximately $103 million) from approximately ₱6.92 billion (approximately $120 million) in Q4 2023.  A lower mass market table games win percentage of 17.9%, compared to 19.1% in the same period last year, was a primary driver of this decline. While Wynn Macau's VIP table games win percentage was strong at 5.01%, exceeding both expectations and the Q4 2023 result, it wasn't enough to offset the negative impact of the mass market performance.  The declines at Wynn Macau had a direct impact on Wynn Resorts' consolidated results. While Wynn Palace showed resilience, the overall Macau segment was negatively affected.  Wynn Resorts CEO Craig Billings acknowledged the healthy market share driven by premium mass and VIP segments, indicating that Wynn Macau's challenges were specific to that property and not necessarily indicative of broader market share loss.  However, the decrease in mass market win percentage at Wynn Macau highlights the competitive pressures and operational factors that can influence individual property performance, ultimately impacting the company's bottom line. Wynn Resorts reported operating revenues of approximately ₱101.2 billion (approximately $1.75 billion), matching the same period in 2023, but net income decreased significantly, largely due to a prior year tax benefit.  Adjusted Property EBITDAR was also slightly down year-over-year, reflecting the mixed performance in Macau and the challenges faced by Wynn Macau. Read related article:   Wynn Resorts Secures P139B Record Funding for UAE Resort

Clarion’s Ewa Bakun will speak at the Italian Gaming Exhibition, sharing insights on industry trends, innovation, and the future of gaming. Ewa Bakun Director of Industry Insight and Engagement at Clarion Gaming has joined the line-up of international experts who will be speaking at the second edition of the Italian Gaming Exhibition and Conference (IGE)  taking place across April 9th and 10that the Salone delle Fontane in Rome.  She will be moderating a stream exploring technological innovation and how advances including artificial intelligence, virtual and augmented reality, cryptocurrencies, NFT and the Metaverse are impacting the totality of the industry from the end-user experience to the way businesses are operated. Looking ahead to the second edition of the IGE Ewa Bakun said: “I am honoured to be invited to participate in the Italian Gaming Exhibition and Conference an event which not only debates the industry's challenges but also aims to set out a path towards achieving a sustainable future for all sectors of the Italian industry. “The 2025 edition comes at a key time following the liberalisation of licenses, creating important new business opportunities and as the organisers have argued providing a springboard to create an open, responsible and sustainable industry.” She continued: “ICE, Clarion Gaming’s flagship brand, has always enjoyed a highly productive relationship with the Italian industry. The first edition of ICE Barcelona welcomed 1,496 visitors from Italy making it the 7th highest represented nation amongst a roll call which totalled 163 countries. “The Italian Gaming Exhibition and Conference shares many of the values and aims that underpin ICE and I look forward to sharing with Italian colleagues some of the exciting plans that we have in place for ICE Barcelona 2026 not least the growing and progressive relationship that’s developing between gambling and technology brands.” Related article: Steve Aoki to INFINITY Florida at SBC Summit Americas

Blitzcrown’s Crash Games in Brazil receive GLI certification, marking a milestone in the market and ensuring a secure, high-quality gaming experience. Blitzcrown, MVG's pioneering games studio, has secured Brazilian Certification as well as GLI-19 Certification from GLI (Gaming Laboratories International) for its industry-changing three Crash titles. This landmark achievement marks a significant milestone in the company's expansion into Brazil's thriving online gaming market, positioning Blitzcrown at the forefront of the region's rapidly evolving iGaming landscape. The license comes at an important time for Brazil's gaming sector, following the launch of the new licensing regime that started on January 1, 2025. The regulatory framework, signed into law in December 2023, has transformed the industry's prospects. The certification encompasses 3 innovative crash games: Crash, Fast Crash, and Twin Crash. This strategic milestone establishes Blitzcrown as the premier provider of certified Crash games in the Brazilian market, demonstrating the company's unwavering commitment to regulatory excellence and gaming integrity. With the GLI-19 and Brazil certification process successfully concluded in March, Blitzcrown has solidified its position as an industry pioneer in this dynamic and emerging market. Crash games are a recent addition to the global iGaming market, featuring the dynamic evolution of real-time multipliers and immediate reward structures. Blitzcrown has stood out by establishing groundbreaking game mechanisms that offer different and exciting gameplay experiences. Standard Crash provides players with a standard multiplier-based gaming experience, and Fast Crash is optimized for users seeking quick, intense multiplier experiences. The Twin Crash is an original format allowing players to place simultaneous bets on two separate multipliers. Building on this momentum, Blitzcrown has announced plans to expand its certified portfolio with two additional versions of its innovative Plinko games, demonstrating the company's strategic commitment to market expansion. This forward-looking initiative underscores Blitzcrown's dedication to continuous innovation and sustainable growth in the regulated gaming markets. Blitzcrown is MVG's edge-game studio focused on pushing game ideas beyond their norms through innovative and non-traditional gaming experiences. The studio has been particularly recognized for its groundbreaking approaches in various game categories, including its successful Crash and Plinko series. George Cho from MVG said : "This GLI certification testifies to Blitzcrown's unwavering commitment to offering top-quality, fair gaming systems. We are well placed to take advantage of Brazil's exciting new regulatory environment and the vast growth potential of the online gaming industry." Related article: How to Play and Win in Crash Games

A Singaporean company plans to open land-based casinos and a bank in Timor Leste, overcoming previous government reservations. A Singapore company is planning to establish a casino and a bank in Timor Leste, after it forged an "exclusive" agreement with the government.  In a filing, Asia-Pacific Strategic Investments said it signed two cooperation agreements. In one of the agreements, the company is required to build a high-security 5-star hotel marketed towards international customers.  Asia-Pacific Strategic Investments plans to issue S$180 million  (approximately ₱7.5 billion ) in convertible bonds to finance its new business ventures.  The company's controlling shareholder, Oei Hong Leong, will subscribe to these bonds. However, these new ventures are contingent upon shareholder approval. The agreement was signed last February 8 while the disclosure was published 8 February.  For granting Asia-Pacific Strategic Investments an exclusive license to develop the hotel and casino, the Timor-Leste government will facilitate smooth operations by securing necessary permits and coordinating with relevant agencies.   Within three months of the agreement's execution, both parties must finalize a business plan detailing the number of gaming tables, hotel rooms, amenities, and related tourism and transportation strategies. This is apparently a pivot from Timor-Leste's disinterest in establishing land-based casinos within its borders.  President José Manuel Ramos-Horta recently emphasized the potential negative social consequences of such establishments, citing concerns about the impact on local communities. However, this doesn't mean the country is entirely closed off to the gaming industry. Ramos-Horta, however, has favored online gambling. Read related article:   Chinese-run Casinos in Myanmar Border Town Ordered Shut

Bloomberry Resorts Corporation refinanced a P40 billion debt related to the construction of Solaire Resort North, securing more favorable terms and lower interest rates. Bloomberry Resorts Corporation has announced a P40 billion refinancing agreement. This is the company's second refinancing in recent months, following a similar move in October. Bloomberry announced this in a Philippine Stock Exchange disclosure published in the afternoon of February 12, 2025.  The agreement refinances an existing P40 billion loan that contributed to the construction of Solaire Resort North. The new facility has a 10-year term, expiring in February 2035, with a principal repayment schedule that concentrates payments in the final three years. This structure mirrors the terms of the P72 billion refinancing completed in October. “These features will lighten debt service requirements over the coming years and allow Bloomberry to benefit from anticipated interest rate cuts in the next months,” Bloomberry shared.  The new facility's interest margin is 75 basis points lower than the original loan. Bloomberry also has the option to fix the interest rate for the next 12 months. The company anticipates that these terms will reduce debt service requirements and position it to benefit from potential future interest rate decreases. Enrique K. Razon Jr., Bloomberry Chairman and CEO, commented, "These refinancing activities are intended to optimize cash flow by reducing annual interest and principal payments. This P40 billion facility refinancing reflects a proactive approach to financial management and a focus on delivering shareholder returns." The lending syndicate includes BDO Unibank, Bank of Commerce, Bank of the Philippine Islands, China Banking Corporation, Metropolitan Bank and Trust Co., Philippine National Bank, and Union Bank of the Philippines. BDO Capital & Investment Corporation served as lead arranger and sole bookrunner, while BDO Unibank – Trust and Investments Group is the security trustee, facility agent, and paying agent. Read related article:   Bloomberry Income Drops 58% Due to Solaire North Costs

Hoiana Resort & Golf names Alan Teo as CEO, bringing extensive experience in resort management and operations to enhance the luxury destination's growth. Hoiana Resort & Golf has announced the appointment of Alan Teo, a seasoned resort executive, as its new Chief Executive Officer. Alan Teo brings extensive experience in the gaming and hospitality industry to the role, including his previous position as Chief Operating Officer of Universal Hotels and Resorts, where he oversaw operations at the NUSTAR Resort & Casino in Cebu, Philippines.  His experience at NUSTAR included managing large-scale, multi-faceted resort operations. Alan Teo’s career also encompasses senior leadership roles at other integrated resorts in Singapore and the Philippines. He has a background in driving operational performance and financial results within complex business environments. He holds a degree from the National University of Singapore and a Master of Business Administration from IE Business School. Sean Knights will replace Alan Teo as NUSTAR’s COO, which he announced in a LinkedIn Post last February 6. Hoiana Resort & Golf, owned, developed, and operated by Hoi An South Development Ltd. (HASD), has experienced considerable growth. In 2024, the resort recorded over 225,000 visitors and contributed to the local economy, generating over 7,000 jobs and contributing VND 790 billion to the state budget, making it the largest tax-paying foreign direct investment enterprise in Quang Nam Province. Alan Teo’s appointment coincides with Phase 2 of Hoiana’s development, a USD 1 billion expansion across approximately 209 hectares. This expansion is projected to create an additional 2,500 direct jobs and 5,000 indirect jobs over the next two years. HASD has invested USD 1.4 billion of its total registered investment of USD 4 billion to date. “I am honored to join Hoi An South Development Ltd. as CEO,” said Alan Teo. “HASD has established a significant presence in the gaming and hospitality industry, and I look forward to contributing to its continued development. I anticipate working to drive innovation, provide guest experiences, and explore growth opportunities.” HASD expressed its support for Alan Teo’s leadership. Read related article:   Parent company of NUSTAR to have new President and CEO

Marina Bay Sands Expansion Delay pushes completion to June 2030, with opening set for January 2031, further extending the previously revised July 2029 target. The highly anticipated expansion of the Marina Bay Sands (MBS) casino complex in Singapore has been delayed once more, with Las Vegas Sands Corp. (LVS) now projecting a completion date of June 2030 and an opening in January 2031. This marks a further postponement from the previously revised target of July 2029, which LVS reaffirmed just last month. The delay, revealed in LVS's 2024 annual report filed with the New York Stock Exchange, raises questions about the project's timeline. The company emphasized that any extension beyond the original July 2029 deadline requires approval from the Singaporean government. This latest setback follows a series of adjustments to the project. In January, LVS's subsidiary, Marina Bay Sands Pte Ltd, and the Singapore Tourism Board agreed to amendments, including an increase in gaming area allocation for the expansion. In exchange, LVS committed to a US$1 billion payment to Singaporean authorities. A supplemental agreement in March 2023, followed by another in January 2024, outlined these changes and reaffirmed the initial July 2029 completion date. LVS initially pledged to invest at least SGD 4.5 billion (US$3.3 billion) in the expansion back in 2019. Since then, the company has received multiple deadline extensions for the project's commencement. The US$1 billion payment to the Singaporean government will be made in two installments. The first is expected in the second quarter of this year, with the remainder due in 2026. As of the end of 2024, LVS has incurred approximately US$1.36 billion in expenses related to the MBS expansion, including a US$963 million upfront premium for the land lease. The company previously announced plans to invest US$8 billion in the second phase of the MBS complex, dubbed "MBS IR2." This investment includes land premiums, construction costs, and pre-opening expenses. MBS IR2 will feature a fourth tower with over 570 rooms, expanded casino space, a 15,000-seat arena, a sky roof, retail outlets, restaurants, and meeting and exhibition space. Read related article:   Singapore Gambling Declines, But Illegal Online Betting Rises

Wynn Resort UAE secures record funding for its Al Marjan Island integrated resort in Ras Al Khaimah, set to open in 2027 as a premier luxury destination. Wynn Resorts has announced a significant financial milestone in the development of its Wynn Al Marjan Island project in Ras Al Khaimah, UAE. The company has secured a P139 billion ($2.4 billion) construction facility, the largest hospitality financing transaction in UAE history, from a global syndicate of lenders. This funding paves the way for the completion of the first integrated resort in the emirate, a venture poised to redefine luxury hospitality in the region. As the press release states, "This landmark transaction represents the largest hospitality financing transaction in the history of the United Arab Emirates." Located just 50 minutes from Dubai International Airport, Wynn Al Marjan Island represents a strategic expansion for Wynn Resorts. The secured seven-year term loan, denominated in both AED and USD, provides the financial flexibility needed for this ambitious undertaking.  The loan facility, structured as a delayed draw, allows for phased access to funds, aligning with the project's construction timeline. Key financial institutions, including Abu Dhabi Commercial Bank and Deutsche Bank, acted as Joint Coordinators for the financing, demonstrating the strong market confidence in the project. The press release highlights the diverse lending syndicate, noting it includes "a mix of globally recognized regional and international lenders." Construction is progressing rapidly, with the main resort tower already reaching the 36th floor and a projected topping off in December. "The construction team is completing one floor per week," according to the release, and "In the last 100 days, the resort tower has grown approximately 140 feet."  Impressive progress has been made on the guest accommodations, with 80% of the 1,542 rooms and suites already completed. The exterior façade and interior fit-out are also well underway, signaling the tangible realization of the resort's design.  The low-rise structures, encompassing various amenities, are also advancing steadily. The release further notes that "fit out is underway in approximately 1,121 rooms – including walls, floors, and ceilings, as well as all mechanical, electrical, and plumbing services."   Wynn Al Marjan Island, developed in partnership with Marjan and RAK Hospitality Holding, is set to offer an unparalleled luxury experience. The resort will feature 22 diverse dining options, ranging from casual lounges to fine dining restaurants, alongside a nightclub and beach club. A curated luxury shopping promenade, a signature Wynn spa, and a sprawling 39,000 square foot poolscape will cater to guests' leisure and wellness needs. For corporate events and gatherings, the resort will boast a 145,000 square foot meetings and events center. A dedicated theater with a bespoke resident show will further enhance the entertainment offering. As the press release details, "Wynn Al Marjan Island will have twenty-two restaurants, lounges and bars, as well as a nightclub and beach club. Guests will enjoy a luxury shopping promenade and a signature Wynn spa and salon." This venture underscores Wynn Resorts' commitment to expanding its global footprint and creating world-class destinations. The company, known for its opulent properties in Las Vegas, Macau, and Boston, is leveraging its expertise to develop a new paradigm of luxury in the UAE. The Wynn Al Marjan Island project is not just a resort; it is a statement, a testament to the evolving landscape of luxury travel and entertainment in the Middle East. The anticipated opening in 2027 will undoubtedly mark a new chapter in the region's hospitality sector. Read related article:   Wynn UAE Casino Could Earn $1B, Budget Increased to $5.1B

The City of Dreams Sri Lanka is set to open its casino by Q3 2025.  John Keells Holdings confirms fit-out works are underway for the Nuwa hotel and its gaming facilities. City of Dreams’ Sri Lanka casino now has a clearer timeline, according to Melco Resorts & Entertainment partner for the project, as the first integrated resort in Sri Lanka nears completion. John Keells Holdings said the casino will open during the third quarter of 2025.  Fit-out works for the exclusive 113-key Nuwa hotel and its gaming facilities are advancing smoothly, according to JKH.  This progress follows the successful launch of the 687-room Cinnamon Life hotel, along with its diverse range of restaurants and banquet spaces, which began operations on October 15, 2024. "This marks a significant culmination of events for the Group’s iconic integrated resort, which has been under construction over the last decade," stated JKH Chairman Krishan Balendra in a recent report to shareholders. He added that the resort's comprehensive food and beverage offerings, including unique outdoor venues and a wellness center, have been progressively rolled out in recent months, with all outlets and spaces now fully operational. Balendra expressed satisfaction with the positive customer feedback received thus far, noting that it aligns with the high expectations set by the resort's branding.  Furthermore, demand and bookings for the property's event spaces have surpassed initial projections, signaling strong interest in the resort's offerings. JKH envisions the integrated resort as a transformative development for South Asia, anticipating that it will serve as a catalyst for increased tourism, generate valuable foreign exchange earnings for Sri Lanka, and create numerous employment opportunities.  The project represents a significant investment in the country's tourism infrastructure and underscores its potential as a premier destination. Sri Lanka's casino and tourism industry is currently experiencing a significant period of growth and transformation, with the development of large-scale integrated resorts and a focus on attracting high-end tourists. Licensed casinos are primarily located in Colombo, the capital city.  Sri Lanka's offering of diverse tourist attractions, including beautiful beaches, rich cultural heritage, historical sites, and wildlife have all contributed to its reputation in tourism.  Read related article:   Sri Lanka’s City of Dreams Opens, Plans for Casino by 2025

PAGCOR shuts down two Casino Filipino branches in Talisay, Cebu, and Tagum, Davao del Norte. Employees will be reassigned to other PAGCOR sites. The Philippine Amusement and Gaming Corporation (PAGCOR) has announced the closure of two Casino Filipino branches in Talisay, Cebu, and Tagum, Davao del Norte, as part of an ongoing rationalization plan.  PAGCOR Chairman and CEO Alejandro Tengco cited significant financial losses as the primary reason for the closures. According to PAGCOR, Casino Filipino Talisay, operated by Casino Filipino Cebu, incurred net losses of Php39.32 million in 2023, which further escalated to Php49.56 million in losses in 2024.  Similarly, Casino Filipino Tagum, operated by Casino Filipino Grand Regal, experienced a Php31.56 million net loss in 2023, with losses increasing to Php36.93 million in 2024. READ:   PAGCOR Seeking Partner for Online Casino Launch in 2025 Despite the closures, PAGCOR has assured that no employees will be displaced.  Tengco emphasized that employee welfare is a top priority, and that affected staff will be reassigned to other PAGCOR gaming sites. The 42 employees from Casino Filipino Talisay will be transferred to various branches under Casino Filipino Cebu, while the 33 employees from Casino Filipino Tagum will be deployed to different sites under the Casino Filipino Grand Regal in Davao. “While our decision was driven by mounting financial losses, safeguarding the welfare of affected employees through job reassignment and comprehensive support programs is our top priority,” Tengco stated. PAGCOR's Human Resource and Development Group is working closely with the affected employees to ensure a smooth transition, providing guidance and assistance during the reassignment process.  The agency's focus remains on streamlining operations while supporting its workforce. Read related article:   PAGCOR Partners with SMC for New Headquarters

Macau's tourism landscape is changing. Non-gaming spending is up, driven by new attractions and a shift in tourists demographics, reports Macau Business.  Macau is experiencing a shift in its tourism landscape, with non-gaming spending on the rise, according to a report by Macau Business.  This change is being driven by investments in non-gaming entertainment and a subsequent change in the profile of tourists visiting the city. Data acquired by Macau Business from the Statistics Department shows that per capita spending, excluding casino gambling, has increased significantly.  The average spend now stands at MOP 2,168, a nearly 40 percent jump compared to 2019. This surge in non-gaming spending coincides with a change in visitor demographics.  Macau Business, citing data provided by the Tourism Bureau (MGTO), reports an increase in younger visitors (aged 24 and below) from 14.7 percent in 2019 to 17.4 percent in the first nine months of 2024.  Older visitors (aged 55 and above) also increased from 23 percent to 26.6 percent during the same period.  Conversely, the proportion of visitors aged 25-54 decreased from 62.3 percent to 56 percent. This demographic shift is linked to Macau's push for diversification, with integrated resorts investing heavily in non-gaming attractions.  “Macau is actively promoting moderate economic diversification by increasing non-gambling elements," explains Matthew Liu, Professor of Marketing at the University of Macau, to Macau Business. "After the pandemic, major resorts in Macau have added a variety of diverse entertainment activities, such as concerts, conferences, exhibitions, and tourism events. This effectively attracts more young people, family guests, and middle-class tourists to Macau for tourism and consumption.” Macau's casinos are shifting their focus from high-rolling VIP gamblers to a larger volume of casual bettors, according to several sources. Jenny Lao Phillips, Dean of the Faculty of Business and Law at the University of Saint Joseph, told Macau Business that the future of gaming gross revenue (GGR) lies in attracting more customers who make smaller bets, driven by investments in non-gaming entertainment that are changing the profile of tourists visiting Integrated Resorts.  This trend is not limited to casinos, as Patrick Lo, lecturer at Macao University of Tourism, explained to Macau Business that visitors focused on luxury spending have decreased, while younger travelers interested in local culture and activities have become more prominent, similar to trends observed in Hong Kong.  Ben Lee, Managing Partner at IGamiX Management & Consulting Ltd, confirmed this shift with data shared with Macau Business, stating that the amount of funds players bring to Macau is significantly lower than pre-pandemic levels, likely around 25-40 percent. He attributes this partly to the decline of junket operators, which has shifted the focus to the mass market, now representing over 70 percent of GGR.  While the traditional Baccarat segment has decreased considerably, the premium mass GGR, an alternative to the VIP market, has already surpassed pre-pandemic levels, suggesting a more sustainable path forward for Macau's gaming industry. Read related article:   ‘Macau Casino Outlook Tied to Chinese Economy’