Treasure Island Loses COVID-19 Insurance Lawsuit at Nevada Federal Court
Treasure Island has lost its federal lawsuit seeking insurance compensation for COVID-19-related losses in Nevada's U.S. District Court. The decision was made by Judge Cristina Silva, a federal appointee of President Joe Biden.
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In Macau, casino revenue showed improvement during August due to favorable calendar conditions. The gaming hub continues to recover from pandemic-related disruptions, with operators adapting to new market conditions.
The World Series of Poker now requires COVID-19 vaccination for all participants, implementing strict health protocols to ensure player safety.
Macau's gaming industry generated $5.25 billion in revenue during 2022, with significant recovery hopes for 2023. The region's six casino operators achieved combined earnings of MOP18.6 billion (US$2.31 billion) in July alone.
Hotel capacity in Macau has expanded to nearly 47,000 rooms as casino resorts diversify their offerings beyond gaming. This expansion reflects the enclave's strategic pivot toward non-gaming attractions.
Casino operators adjusted their operations following government directives, including changes to complementary services like free drinks and snacks.
Key developments in the industry include:
- Mass market gaming emerging as a primary revenue driver
- Boyd Gaming maintaining Eastside Cannery licenses despite closure
- Macau casinos winning $2.3 billion in April, marking a 26% increase from 2023
- Harrah's New Orleans planning a rebrand to Caesars with new hotel opening
- Melco Resorts continuing executive stock bonus programs despite challenges
The region's recovery shows promising signs, with:
- Government projections of 33 million visitors in 2024
- Gaming revenue expected to reach 82% of 2019 levels
- Strong holiday performance during Christmas period
- Implementation of initiatives to boost tourism, including free bus services from Hong Kong for Taiwan visitors
Total Macau casino revenue reached $22.7 billion in 2023, triggering increased non-gaming investment requirements. The government continues to encourage operators to raise wages and maintain competitive employment practices.
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