Wynn Resorts Macau unit losing $2 million daily, with revenue down 97.6% in Q2

Continuing to struggle in the wake of the COVID-19 shutdown, Wynn Resorts’ Macau hotel and casino business is suffering a loss of nearly $2 million per day with revenue down 97.6 per cent in the first two months of the second quarter of the current fiscal year.

AAR Ruling on Tiger Global’s Exit in Flipkart, Wal-Mart deal could impact PE exits

Wal-Mart acquired controlling stake in Indian online retail leader Flipkart in 2018 and Tiger Global’s Mauritian arm sold its stake to Luxembourg based entity. However, Tiger Global managed to get exemption on taxes under India-Mauritius double tax avoidance treaty. Now, the Authority on Advanced Ruling in India has passed an order on the deal and Tiger Global could be in for tax trouble.

Massachusetts Gaming Regulator may allow Encore Boston Harbor Casino to resume operations on June 29th

June 29th seems to be the earliest possible date for Massachusetts’s casinos, including Encore Boston Harbor, to resume operations as the state will soon enter the Phase 2 of reopening plan, with phase 3 scheduled to start late this month.

Hong Kong, Macau working on ‘travel bubble’ to allow SARs residents to travel without being quarantined

Hong Kong and Macau authorities are working on a “travel bubble” that would allow residents of the Chinese Special Administrative Regions (SARs) to travel freely between the two territories without the need for a fourteen-day quarantine on both ends.

Harrah’s New Orleans Casino to resume operations coming Saturday, June 13th

Harrah’s New Orleans Casino, the only land-based commercial gambling and entertainment venue in Louisiana, has confirmed that it will reopen its doors to the public on coming Saturday, June 13th, following months-long COVID-19 pandemic caused shutdown.

Casino regulators approve Ronald Baumann’s appointment as regional chief of Bally’s Atlantic City and two other venues

Ronald Baumann, Caesars Entertainment Corporation’s top regional executive, has been granted an initial casino key employee license and approval for his appointment by the New Jersey Casino Control Commission to serve as regional president and chief executive of Caesars Atlantic City, Harrah’s Resort Atlantic City and Bally’s Atlantic City.

Mass market gamers won’t like Macau’s post-COVID19 changes: Morgan Stanley

When Macau’s casinos will eventually get back to normal following COVID19-induced strict health protocols and travel bans, mass market gamers will probably not like the potential changes, Morgan Stanley market analysts underlined in their latest report.