Last updated on June 10th, 2019 at 07:19 am
When China decided to open Macau’s gambling industry, many US casino operators took the opportunity to invest in the territory. However, a trade war between Washington and Beijing is getting worse over time. As a result, US operators are wondering if they are still welcome in Macau.
In fact, casino operators need to apply for new concessions from the Macau government before 2022. Time is running out for US casino operators in the territory. In 2018, Las Vegas Sands, MGM Resorts International, and Wynn Resorts got almost half the Macau’s casino and gambling products revenues.
Sands has the most to lose among the US gambling firms in Macau. It invested the most in the territory. As a result, it has nearly a quarter of the market share. In addition, it gets 60 percent of its worldwide revenue from Macau, according to sportsbook pay per head reviews.
US Casino Operators in Macau
Throughout the years, US casino operators try to win the favor of the Chinese government to safeguard their positions in Macau. For instance, Sheldon Adelson, chief executive and chairman of Sands, used his influence to block a vote opposing China’s bid for the Olympic Games in 2008.
The most recent act of trying to win Beijing’s favor is when Steve Wynn, founder of Wynn Resorts, gave a letter to President Trump. The letter is a request for the release of businessman Guo Wengui to China. However, it is unclear how Beijing values these favors as the US-China trade continue to escalate.
In fact, Beijing targeted sectors close to Trump and the Republican party, including Midwestern soybean farmers. Adelson is a close Trump friend, who donated over $20 million to his presidential campaign.
Also, Wynn is in hot waters with Beijing. He served as the finance chairman of the Republican National Committee until early 2018. However, he already sold his stake in the company and no longer the chief executive and chairman after allegations of sexual assault surfaced.
One thing you need to know on how to be a successful bookie is to ensure you don’t do what Wynn did. A good reputation is important to attract players to your sportsbook.
