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![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/01/5_imagem-150x150.jpg\")
\nMacau’s casino market has appeared to be recovering at a slower pace in 2024, with a decline in the number of junket promoters attributed to the slowdown.
\n\n\n\nAccording to CreditSights under Fitch Group, \u201cflattening trends\u201d are expected in the remainder of 2024 as the ongoing gaming recovery \u201cmatures\u201d.
\n\n\n\nCiting data from the city\u2019s gaming watchdog, the financial researcher says that the gross gaming revenue (GGR) last year recovered to 63 per cent of the 2019 level.
\n\n\n\nHowever, the pace of improvement continued into 2024 at lower speed. In the second quarter, 77 per cent of the comparable 2019 level was reached, slightly up from 75 per cent in the preceding quarter.
\n\n\n\n\u201cWe attribute this to the near extinction of junket-promoters which has meaningfully impacted the recovery for VIP GGR,\u201d analyst David Bussey wrote in a recent note.
\n\n\n\nMacau authorities have decided to allow 50 junket companies to run in 2025, a cap unchanged from this year.
\n\n\n\nHowever, as of June this year, only 22 are registered with the city\u2019s gaming watchdog.
\n\n\n\nVisitation, meanwhile, is also experiencing a slowdown. The year-to-date figure, up until May, is tracking at 82 per cent of the levels observed in 2019. However, from April to May, the visitation reached 79 per cent of the 2019 levels \u2013 slightly lower compared to 86 per cent in the first quarter.
\n\n\n\nVIP-mass dynamics
\n\n\n\nAccording to CreditSights analysis, Baccarat games are the largest contributor to GGR, accounting for approximately 85 percent of the total.
\n\n\n\nIn the first quarter of 2024, mass baccarat revenue reached 116 per cent of the 2019 levels, while that of VIP baccarat reached 39 per cent only.
\n\n\n\n\u201cWhile the loss of junkets will likely hinder a full recovery to pre-pandemic GGR (at least in near-to-medium term), it has benefited margins,\u201d the analyst wrote.
\n\n\n\n\u201cFor junket-sourced VIP players, casino operators pay a commission to the junkets in addition to covering the operating costs for VIP rooms (labor, utility, etc.). This has historically made mass-market players a higher-margin demographic,\u201d Bussey added.
\n\n\n\nEven without the absence of the promoters of high-stake rollers, there has been a consistent rebound in spending per visitor, the analysis suggests.
\n\n\n\nIn 2023, GGR per visitor amounted to about USD805 \u2013 or about 88 per cent of the 2019 level of US920.
\n\n\n\nThe year-to-date figure, up until May, is tracking at around US841, a 93 percent recovery compared to 2019.
\n", "content_text": "Macau’s casino market has appeared to be recovering at a slower pace in 2024, with a decline in the number of junket promoters attributed to the slowdown.\n\n\n\nAccording to CreditSights under Fitch Group, \u201cflattening trends\u201d are expected in the remainder of 2024 as the ongoing gaming recovery \u201cmatures\u201d.\n\n\n\nCiting data from the city\u2019s gaming watchdog, the financial researcher says that the gross gaming revenue (GGR) last year recovered to 63 per cent of the 2019 level.\n\n\n\nHowever, the pace of improvement continued into 2024 at lower speed. In the second quarter, 77 per cent of the comparable 2019 level was reached, slightly up from 75 per cent in the preceding quarter. \n\n\n\n\u201cWe attribute this to the near extinction of junket-promoters which has meaningfully impacted the recovery for VIP GGR,\u201d analyst David Bussey wrote in a recent note. \n\n\n\nMacau authorities have decided to allow 50 junket companies to run in 2025, a cap unchanged from this year.\n\n\n\nHowever, as of June this year, only 22 are registered with the city\u2019s gaming watchdog.\n\n\n\nVisitation, meanwhile, is also experiencing a slowdown. The year-to-date figure, up until May, is tracking at 82 per cent of the levels observed in 2019. However, from April to May, the visitation reached 79 per cent of the 2019 levels \u2013 slightly lower compared to 86 per cent in the first quarter.\n\n\n\nVIP-mass dynamics\n\n\n\nAccording to CreditSights analysis, Baccarat games are the largest contributor to GGR, accounting for approximately 85 percent of the total. \n\n\n\nIn the first quarter of 2024, mass baccarat revenue reached 116 per cent of the 2019 levels, while that of VIP baccarat reached 39 per cent only. \n\n\n\n\u201cWhile the loss of junkets will likely hinder a full recovery to pre-pandemic GGR (at least in near-to-medium term), it has benefited margins,\u201d the analyst wrote.\n\n\n\n\u201cFor junket-sourced VIP players, casino operators pay a commission to the junkets in addition to covering the operating costs for VIP rooms (labor, utility, etc.). This has historically made mass-market players a higher-margin demographic,\u201d Bussey added.\n\n\n\nEven without the absence of the promoters of high-stake rollers, there has been a consistent rebound in spending per visitor, the analysis suggests. \n\n\n\nIn 2023, GGR per visitor amounted to about USD805 \u2013 or about 88 per cent of the 2019 level of US920. \n\n\n\nThe year-to-date figure, up until May, is tracking at around US841, a 93 percent recovery compared to 2019.", "date_published": "July 19, 2024", "date_modified": "July 19, 2024 - 14:06", "author": { "name": "Aries Un", "url": "https://www.macaubusiness.com/author/aries-un/", "avatar": "https://secure.gravatar.com/avatar/7ae1d1264b8afa0640eb6915aab8c425?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/01/5_imagem.jpg", "tags": [ "Gaming", "Macau", "MNA", "MNA Featured" ], "summary": "Macau's casino market has appeared to be recovering at a slower pace in 2024, with a decline in the number of junket promoters attributed to the slowdown." }, { "id": "https://www.macaubusiness.com/lmelco-to-host-skateboarding-event-at-new-skatepark-next-year/", "url": "https://www.macaubusiness.com/lmelco-to-host-skateboarding-event-at-new-skatepark-next-year/", "title": "Melco to host skateboarding event at new skatepark next year", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Weixin-Image_20240719195413-150x150.jpg\")
\nMelco Resorts &\nEntertainment has announced that it will bring a skateboarding event to Macau\nin March 2025.
\n\n\n\nAccording to a press\nconference held on Friday, the event is entitled \u2018International Festival of\nExtreme Sports (FISE): Battle of the Champions (BOTC) 2025\u2019.
\n\n\n\nIt is part of a collaboration\nwith the government to boost the tourism industry.
\n\n\n\nSkateboarding made its\ndebut as an official Olympic sport at the Tokyo 2020 Olympic Games in a bid to\ndraw attention from the younger generation.
\n\n\n\nSkateboarding events are\nusually held in two disciplines: street and park.
\n\n\n\nThe former allows skaters\nto perform tricks on a course that resembles a street environment, including\nstairs, rails, and ramps.
\n\n\n\nThe latter features a\nlarge hollowed-out course with curves, bowls, and ramps, allowing skaters to\nperform aerial tricks.
\n\n\n\nThe casino operator has\nalso announced a plan to open a skateboard park at Studio City.
\n\n\n\n\u201cWe are excited to\nintroduce \u2018FISE: BOTC 2025, Macau\u2019 as the first event of its kind event to ever\ntake place in Macau and the Greater Bay Area,\u201d said Clarence Chung, a board director\nof Melco.
\n\n\n\n\u201cThe festival will\ncombine sports and youth culture in a vibrant festival atmosphere to appeal to\nboth locals and visitors, while demonstrating Melco’s steadfast commitment to\nbringing world class events and performances to Macau.\u201d
\n", "content_text": "Melco Resorts &\nEntertainment has announced that it will bring a skateboarding event to Macau\nin March 2025.\n\n\n\nAccording to a press\nconference held on Friday, the event is entitled \u2018International Festival of\nExtreme Sports (FISE): Battle of the Champions (BOTC) 2025\u2019. \n\n\n\nIt is part of a collaboration\nwith the government to boost the tourism industry. \n\n\n\nSkateboarding made its\ndebut as an official Olympic sport at the Tokyo 2020 Olympic Games in a bid to\ndraw attention from the younger generation. \n\n\n\nSkateboarding events are\nusually held in two disciplines: street and park. \n\n\n\nThe former allows skaters\nto perform tricks on a course that resembles a street environment, including\nstairs, rails, and ramps.\n\n\n\nThe latter features a\nlarge hollowed-out course with curves, bowls, and ramps, allowing skaters to\nperform aerial tricks.\n\n\n\nThe casino operator has\nalso announced a plan to open a skateboard park at Studio City.\n\n\n\n\u201cWe are excited to\nintroduce \u2018FISE: BOTC 2025, Macau\u2019 as the first event of its kind event to ever\ntake place in Macau and the Greater Bay Area,\u201d said Clarence Chung, a board director\nof Melco.\n\n\n\n\u201cThe festival will\ncombine sports and youth culture in a vibrant festival atmosphere to appeal to\nboth locals and visitors, while demonstrating Melco’s steadfast commitment to\nbringing world class events and performances to Macau.\u201d", "date_published": "July 19, 2024", "date_modified": "July 20, 2024 - 02:08", "author": { "name": "Aries Un", "url": "https://www.macaubusiness.com/author/aries-un/", "avatar": "https://secure.gravatar.com/avatar/7ae1d1264b8afa0640eb6915aab8c425?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Weixin-Image_20240719195413.jpg", "tags": [ "Gaming", "Macau", "MNA" ], "summary": "Melco Resorts & Entertainment has announced that it will bring a skateboarding event to Macau in March 2025." }, { "id": "https://www.macaubusiness.com/ongoing-auction-ex-junket-king-alvin-chaus-properties-still-available-at-discounted-prices/", "url": "https://www.macaubusiness.com/ongoing-auction-ex-junket-king-alvin-chaus-properties-still-available-at-discounted-prices/", "title": "Ongoing auction: ex-junket king Alvin Chau\u2019s properties still available at discounted prices", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Untitled-10-150x150.jpg\")
\nOnly two of the 36 properties owned by former junket kingpin Alvin Chau have been auctioned off, with the rest still under the hammer, court records show.
\n\n\n\nHowever, these properties \u2013 three commercial units and 31 car parking spaces \u2013 are now worth about half of their combined original bid price of nearly MOP600 million (US$74.68 million).
\n\n\n\nThe first three properties, located in Taipa, are selling for MOP49,965,300, MOP66,373,200 and MOP159,073,200 respectively, with 30 parking spaces valued at MOP1,066,050 each and one parking space particularly valued at MOP1,019,700.
\n\n\n\nThe public auction, which was due to end in September last year, has been extended until February this year.
\n\n\n\nEarlier this month, the city\u2019s top court upheld the 18-year prison term for Chau, who, along with his eight associates, must pay a whopping HKD24.865 billion in compensation to the government for profiting from illicit gambling operations.
\n\n\n\nThe jail terms for the other eight range from nine years to 12 years and 6 months.
\n\n\n\nEarlier this year, China Central Television, the country\u2019s national TV broadcaster known as CCTV, reported that the online gaming sites run by the former gambling promoter in the Philippines generated RMB300 billion in bets between 2015 and 2019, with his winnings topping RMB8.7 billion from Chinese gamblers.
![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Weixin-Image_20240717183932-150x150.png\")
\nBrokerage firm CLSA has revised down its Macau gross gaming revenue (GGR) forecasts for 2024 and 2025 by 3 per cent and 5.3 per cent to US$28.6 billion (MOP230 billion) and US$29.7 billion, respectively, driven by concerns about the crackdown on illegal money exchange activity.
\n\n\n\nIn a recent note, analysts Jeffery Kiang and Leo Pan predict that Macau\u2019s gaming sector EBITDA will decline by 5 per cent quarter-on-quarter to US$1.9 billion in the second quarter of the year, as the city\u2019s GGR decreased by 1.6 per cent quarter-on-quarter.
\n\n\n\n\u201cWhile factoring in the actual GGR in 2Q24, we also lower our expectations as a result of the ongoing crackdown on illegal money exchange activity from China. Whether the crackdowns will scale up remains to be seen,\u201d the analysts wrote.
\n\n\n\nIn early June, China’s Ministry of Public Security urged security forces not only in Macau but also on the Chinese mainland to step up cooperation in cracking down on illegal currency exchanges in Macau.
\n\n\n\nThe so-called \u2018money changers\u2019, present around the city\u2019s casinos, have been identified as a key method for moving funds across different jurisdictions, particularly between the Chinese mainland and Macau.
\n\n\n\nAlong with the GGR forecast changes, the analysts also lowered their sector EBITDA forecasts for 2024 and 2025 by 8 per cent and 6 per cent, respectively, citing the rise of promotional activity among operators and rising payroll costs.
\n\n\n\nThe brokerage now expects that sector-adjusted EBITDA will grow by 24 per cent year-on-year to US$8.1 billion in 2024, representing a recovery to 85 per cent of the 2019 level.
\n\n\n\nSector EBITDA is expected to fully normalise in the second half of 2025, reaching 4 per cent above the 2019 level.
\n\n\n\nIn the short-term, the analyst indicated that although a soft start to July\u2019s GGR and the recent crackdown on illegal money exchange activity had weighed on investor sentiment, stable balance sheets and sensible competition should enable the companies to weather these short-term headwinds.
\n", "content_text": "Brokerage firm CLSA has revised down its Macau gross gaming revenue (GGR) forecasts for 2024 and 2025 by 3 per cent and 5.3 per cent to US$28.6 billion (MOP230 billion) and US$29.7 billion, respectively, driven by concerns about the crackdown on illegal money exchange activity.\n\n\n\nIn a recent note, analysts Jeffery Kiang and Leo Pan predict that Macau\u2019s gaming sector EBITDA will decline by 5 per cent quarter-on-quarter to US$1.9 billion in the second quarter of the year, as the city\u2019s GGR decreased by 1.6 per cent quarter-on-quarter. \n\n\n\n\u201cWhile factoring in the actual GGR in 2Q24, we also lower our expectations as a result of the ongoing crackdown on illegal money exchange activity from China. Whether the crackdowns will scale up remains to be seen,\u201d the analysts wrote.\n\n\n\nIn early June, China’s Ministry of Public Security urged security forces not only in Macau but also on the Chinese mainland to step up cooperation in cracking down on illegal currency exchanges in Macau.\n\n\n\nThe so-called \u2018money changers\u2019, present around the city\u2019s casinos, have been identified as a key method for moving funds across different jurisdictions, particularly between the Chinese mainland and Macau.\n\n\n\nAlong with the GGR forecast changes, the analysts also lowered their sector EBITDA forecasts for 2024 and 2025 by 8 per cent and 6 per cent, respectively, citing the rise of promotional activity among operators and rising payroll costs.\n\n\n\nThe brokerage now expects that sector-adjusted EBITDA will grow by 24 per cent year-on-year to US$8.1 billion in 2024, representing a recovery to 85 per cent of the 2019 level. \n\n\n\nSector EBITDA is expected to fully normalise in the second half of 2025, reaching 4 per cent above the 2019 level.\n\n\n\nIn the short-term, the analyst indicated that although a soft start to July\u2019s GGR and the recent crackdown on illegal money exchange activity had weighed on investor sentiment, stable balance sheets and sensible competition should enable the companies to weather these short-term headwinds.", "date_published": "July 17, 2024", "date_modified": "July 17, 2024 - 18:40", "author": { "name": "Therese Tu", "url": "https://www.macaubusiness.com/author/therese/", "avatar": "https://secure.gravatar.com/avatar/1d763f17b928c3298f1b719855931b70?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Weixin-Image_20240717183932.png", "tags": [ "Gaming", "Macau", "MNA", "MNA Featured" ], "summary": "Brokerage firm CLSA has revised down its Macau gross gaming revenue(GGR) forecasts for 2024 and 2025 by 3.0 per cent and 5.3 per cent to US$28.6 billion(MOP230 billion) and US$29.7 billion, respectively, driven by concerns about the crackdown on illegal money exchange activity." }, { "id": "https://www.macaubusiness.com/vip-gambling-down-7-4-pct-quarter-to-quarter-in-q2/", "url": "https://www.macaubusiness.com/vip-gambling-down-7-4-pct-quarter-to-quarter-in-q2/", "title": "VIP gambling down 7.4 pct quarter-to-quarter in Q2", "content_html": "![\"\"](\"https://mbusiness.sgp1.digitaloceanspaces.com/2020/01/casino-worker-150x150.jpg\")
\nRevenue from high-stakes gambling (VIP gambling) in Macau fell by 7.4 per cent in the second quarter of the year compared to the previous three months, according to data released by the Gaming Inspection and Coordination Bureau (DICJ).
\n\n\n\nCasinos collected MOP13.31 billion (USD1.66 billion) between April and June from VIP baccarat gambling, compared to MOP14.37 billion (EUR1.64 billion) between January and March, the DICJ revealed.
\n\n\n\nThe figure is still far from pre-pandemic levels.
\n\n\n\nBetween April and June 2019, high-stakes gambling totalled MOP34.61 billion in the second quarter of that year.
\n\n\n\nOn an annual basis, the amount between April and June 2024 represents an increase of 9% compared to the same period in 2023, when VIP gambling brought in MOP12.2 billion (EUR1.39 billion).
\n\n\n\nThe total accumulated from high-stakes gambling in the first six months of this year was MOP27.69 billion, the DICJ added.
\n\n\n\nAs the world’s gambling capital, Macau is the only place in China where casino gambling is legal.
\n\n\n\nDuring nearly three years of strict restrictions against the COVID-19 pandemic, which ended in December 2022, the six gaming operators \u2013 MGM, Galaxy, Venetian, Melco, Wynn, and SJM \u2013 accumulated unprecedented losses, and the government was forced to use the extraordinary reserve to respond to the crisis, as a substantial portion of government revenue comes from gambling taxes.
![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Untitled-8-150x150.jpg\")
\nMGM China Holdings has unveiled a campaign to promote Macau brands, an initiative supported by the Industrial Association of Macau and the Bank of China Macau Branch.
\n\n\n\nAccording to the casino operator, the ‘Shop Macau Fun Macau!’ campaign aims to promote made-in-Macau products and ‘M-mark’ certified offerings to help local small and medium-sized enterprises expand their ‘online and offline exposure’ and ‘business scope’.
\n\n\n\nThe government-backed campaign will run from 20 July to 31 August, with MOP25 (US$3) e-coupons for MinMPlaza being distributed via the BOC Macau mobile app.
\n\n\n\nMinMPlaza is an exhibition centre established by the association in downtown Macau to promote homegrown brands.
\n\n\n\nUnder the promotion, customers who make a single purchase of at least MOP75 via the app will receive a MOP25 discount using the e-coupons.
\n", "content_text": "MGM China Holdings has unveiled a campaign to promote Macau brands, an initiative supported by the Industrial Association of Macau and the Bank of China Macau Branch.\n\n\n\nAccording to the casino operator, the ‘Shop Macau Fun Macau!’ campaign aims to promote made-in-Macau products and ‘M-mark’ certified offerings to help local small and medium-sized enterprises expand their ‘online and offline exposure’ and ‘business scope’.\n\n\n\nThe government-backed campaign will run from 20 July to 31 August, with MOP25 (US$3) e-coupons for MinMPlaza being distributed via the BOC Macau mobile app. \n\n\n\nMinMPlaza is an exhibition centre established by the association in downtown Macau to promote homegrown brands. \n\n\n\nUnder the promotion, customers who make a single purchase of at least MOP75 via the app will receive a MOP25 discount using the e-coupons.", "date_published": "July 17, 2024", "date_modified": "July 18, 2024 - 02:38", "author": { "name": "Aries Un", "url": "https://www.macaubusiness.com/author/aries-un/", "avatar": "https://secure.gravatar.com/avatar/7ae1d1264b8afa0640eb6915aab8c425?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Untitled-8.jpg", "tags": [ "Gaming", "Macau", "MNA" ] }, { "id": "https://www.macaubusiness.com/h1-ggr-hits-mop113-7-bln-vip-baccarat-contributes-24-pct/", "url": "https://www.macaubusiness.com/h1-ggr-hits-mop113-7-bln-vip-baccarat-contributes-24-pct/", "title": "H1 GGR hits MOP113.7 bln, VIP baccarat contributes 24 pct", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Weixin-Image_20240717155213-150x150.png\")
\nMacau’s gross gaming revenue (GGR) for the first half of this year reached MOP113.75 billion (US$14.1 billion), representing a recovery to 76 per cent of the pre-pandemic level.
\n\n\n\nAccording to the latest data released by the city\u2019s gaming watchdog, the Gaming Inspection and Coordination Bureau (DICJ), GGR for the second quarter was MOP56.43 billion, reflecting a quarter-on-quarter fall of 1.6 per cent.
\n\n\n\nVIP baccarat tables generated MOP27.7 billion in revenue for the first half of this year, accounting for 24 per cent of the overall GGR.
\n\n\n\nIn the pre-pandemic year 2019, VIP baccarat revenue reached MOP135 billion, which represented 46 per cent of the full-year GGR earned by local casinos.
\n\n\n\nIn the first half of 2024, revenue from the mass-market baccarat segment amounted to MOP69.2 billion, while slot machines contributed MOP6.43 billion.
\n\n\n\nThe number of gaming tables and slot machines in the first half of 2024 stood at 6,000 and 12,000, respectively.
\n\n\n\nLast week, the Financial Services Bureau announced that as much as MOP44.79 billion in gaming taxes in the first half of this year, representing a year-on-year increase of 67.2 per cent.
\n", "content_text": "Macau’s gross gaming revenue (GGR) for the first half of this year reached MOP113.75 billion (US$14.1 billion), representing a recovery to 76 per cent of the pre-pandemic level.\n\n\n\nAccording to the latest data released by the city\u2019s gaming watchdog, the Gaming Inspection and Coordination Bureau (DICJ), GGR for the second quarter was MOP56.43 billion, reflecting a quarter-on-quarter fall of 1.6 per cent.\n\n\n\nVIP baccarat tables generated MOP27.7 billion in revenue for the first half of this year, accounting for 24 per cent of the overall GGR. \n\n\n\nIn the pre-pandemic year 2019, VIP baccarat revenue reached MOP135 billion, which represented 46 per cent of the full-year GGR earned by local casinos. \n\n\n\nIn the first half of 2024, revenue from the mass-market baccarat segment amounted to MOP69.2 billion, while slot machines contributed MOP6.43 billion.\n\n\n\nThe number of gaming tables and slot machines in the first half of 2024 stood at 6,000 and 12,000, respectively.\n\n\n\nLast week, the Financial Services Bureau announced that as much as MOP44.79 billion in gaming taxes in the first half of this year, representing a year-on-year increase of 67.2 per cent.", "date_published": "July 17, 2024", "date_modified": "July 18, 2024 - 02:37", "author": { "name": "Therese Tu", "url": "https://www.macaubusiness.com/author/therese/", "avatar": "https://secure.gravatar.com/avatar/1d763f17b928c3298f1b719855931b70?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Weixin-Image_20240717155213.png", "tags": [ "Gaming", "Macau", "MNA", "MNA Featured" ], "summary": "Macau's gross gaming revenue (GGR) for the first half of this year reached MOP113.75 billion (US$14.1 billion), representing a recovery to 76 per cent of the pre-pandemic level." }, { "id": "https://www.macaubusiness.com/macau-gaming-still-resilient-amid-illegal-money-exchange-crackdown-citi/", "url": "https://www.macaubusiness.com/macau-gaming-still-resilient-amid-illegal-money-exchange-crackdown-citi/", "title": "Macau gaming still resilient amid illegal money exchange crackdown: Citi", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Weixin-Image_20240716181212-150x150.jpg\")
\nInvestors\u2019 concern about a possible crackdown on illegal cross-border fund flows and its potential impact on Macau’s gross gaming revenue (GGR) is likely \u2018overdone\u2019, brokerage firm Citigroup has said.
\n\n\n\nIn a recent update, analysts George Choi and Ryan Cheung noted that gaming demand in Macau is showing improving trends in July, despite the action taken to curb illegal money exchange activities that began in June.
\n\n\n\n\u201cWe continue to believe that most players in Macau have their own legitimate ways to get their funds over to Macau, sufficient for them to bet as much as HK$1 million/hand,\u201d the analysts wrote.
\n\n\n\nEarlier in June, China\u2019s Ministry of Public Security urged security forces, not only in Macau but also on the Chinese mainland, to strengthen cooperation in clamping down on illegal money exchange in Macau.
\n\n\n\nThe so-called \u2018money changers\u2019, present around the city\u2019s casinos, have been identified as a key method for moving funds across different jurisdictions, particularly between the Chinese mainland and Macau.
\n\n\n\nBased on Citigroup’s observations, the total wagers of the premium mass segment surged by 34 per cent year-on-year to HKD12.2 million (MOP12.6 million/ US$1.56 million) in July, driven by a 61 per cent increase in the number of premium mass players.
\n\n\n\nThis implies that wager per player in July has recovered to HKD21,193, indicating a 15 per cent month-on-month rise amidst robust gaming demand.
\n\n\n\nThe number of whales, defined as those betting at least HKD100,000, increased to 23 in July this year, compared to the figure of 19 reported in July 2023.
\n\n\n\nGalaxy and Sands China ranked 1 and 2 in the brokerage\u2019s premium mass survey, each holding a 25 per cent market share in terms of the total wager observed, with 11 out of the 23 whales playing at their casinos.
\n", "content_text": "Investors\u2019 concern about a possible crackdown on illegal cross-border fund flows and its potential impact on Macau’s gross gaming revenue (GGR) is likely \u2018overdone\u2019, brokerage firm Citigroup has said.\n\n\n\nIn a recent update, analysts George Choi and Ryan Cheung noted that gaming demand in Macau is showing improving trends in July, despite the action taken to curb illegal money exchange activities that began in June.\n\n\n\n\u201cWe continue to believe that most players in Macau have their own legitimate ways to get their funds over to Macau, sufficient for them to bet as much as HK$1 million/hand,\u201d the analysts wrote.\n\n\n\nEarlier in June, China\u2019s Ministry of Public Security urged security forces, not only in Macau but also on the Chinese mainland, to strengthen cooperation in clamping down on illegal money exchange in Macau.\n\n\n\nThe so-called \u2018money changers\u2019, present around the city\u2019s casinos, have been identified as a key method for moving funds across different jurisdictions, particularly between the Chinese mainland and Macau.\n\n\n\nBased on Citigroup’s observations, the total wagers of the premium mass segment surged by 34 per cent year-on-year to HKD12.2 million (MOP12.6 million/ US$1.56 million) in July, driven by a 61 per cent increase in the number of premium mass players.\n\n\n\nThis implies that wager per player in July has recovered to HKD21,193, indicating a 15 per cent month-on-month rise amidst robust gaming demand.\n\n\n\nThe number of whales, defined as those betting at least HKD100,000, increased to 23 in July this year, compared to the figure of 19 reported in July 2023.\n\n\n\nGalaxy and Sands China ranked 1 and 2 in the brokerage\u2019s premium mass survey, each holding a 25 per cent market share in terms of the total wager observed, with 11 out of the 23 whales playing at their casinos.", "date_published": "July 16, 2024", "date_modified": "July 16, 2024 - 18:17", "author": { "name": "Therese Tu", "url": "https://www.macaubusiness.com/author/therese/", "avatar": "https://secure.gravatar.com/avatar/1d763f17b928c3298f1b719855931b70?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Weixin-Image_20240716181212.jpg", "tags": [ "Gaming", "Macau", "MNA", "MNA Featured" ], "summary": "Investors\u2019 concern about a possible crackdown on illegal cross-border fund flows and its potential impact on Macau's gross gaming revenue (GGR) is likely \u2018overdone\u2019, brokerage firm Citigroup has said." }, { "id": "https://www.macaubusiness.com/man-nabbed-in-failed-casino-robbery-attempt/", "url": "https://www.macaubusiness.com/man-nabbed-in-failed-casino-robbery-attempt/", "title": "Man claiming to have \u2018explosives\u2019 nabbed in failed casino robbery attempt", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Hong-Kong-dollar-150x150.png\")
\nA mainland Chinese man has been arrested after his failed robbery attempt at a Macau casino.
\n\n\n\nThe suspect, identified as Zhao by the Judiciary Police, had previously lost money at the same casino years ago, which motivated his ill-fated plan.
\n\n\n\nAccording to the police authorities, the suspect approached the cashier’s counter holding a bag and claimed to have an explosive device, demanding HKD2 million.
\n\n\n\nFearing the threat, the staff discreetly alerted the security team, the authorities said.
\n\n\n\nIt was said that security personnel fast arrived and apprehended Zhao.
\n\n\n\nDuring the scuffle, he injured one of the guards, whose collective efforts had subdued him and prevented any harm.
\n\n\n\nThe police said that Zhao had admitted his intention to rob the cashier’s counter due to his previous losses.
\n\n\n\nThe alleged explosive device turned out to be a power bank. The suspect now faces charges of robbery and causing bodily harm.
\n\n\n\n\n", "content_text": "A mainland Chinese man has been arrested after his failed robbery attempt at a Macau casino. \n\n\n\nThe suspect, identified as Zhao by the Judiciary Police, had previously lost money at the same casino years ago, which motivated his ill-fated plan.\n\n\n\nAccording to the police authorities, the suspect approached the cashier’s counter holding a bag and claimed to have an explosive device, demanding HKD2 million. \n\n\n\nFearing the threat, the staff discreetly alerted the security team, the authorities said.\n\n\n\nIt was said that security personnel fast arrived and apprehended Zhao. \n\n\n\nDuring the scuffle, he injured one of the guards, whose collective efforts had subdued him and prevented any harm.\n\n\n\nThe police said that Zhao had admitted his intention to rob the cashier’s counter due to his previous losses. \n\n\n\nThe alleged explosive device turned out to be a power bank. The suspect now faces charges of robbery and causing bodily harm.", "date_published": "July 15, 2024", "date_modified": "July 16, 2024 - 00:14", "author": { "name": "Aries Un", "url": "https://www.macaubusiness.com/author/aries-un/", "avatar": "https://secure.gravatar.com/avatar/7ae1d1264b8afa0640eb6915aab8c425?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Hong-Kong-dollar.png", "tags": [ "Gaming", "Macau", "MNA" ], "summary": "A mainland Chinese man has been arrested after his failed robbery attempt at a Macau casino. " }, { "id": "https://www.macaubusiness.com/macau-likely-to-make-mop18-5-bln-in-casino-revenue-in-july-jp-morgan/", "url": "https://www.macaubusiness.com/macau-likely-to-make-mop18-5-bln-in-casino-revenue-in-july-jp-morgan/", "title": "Macau likely to make MOP18.5 bln in casino revenue in July: JP Morgan", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/03/IMG_0171-150x150.jpeg\")
\nMacau is expected to generate MOP18.5 billion (US$2.3 billion) in gross gaming revenue this month, a figure slightly below the original forecast of MOP19 billion.
\n\n\n\nAccording to JP Morgan Securities Asia Pacific, the downward revision is due to a “slower start to the month”.
\n\n\n\nThe first 14 days of the month saw only about MOP8.3 billion, or MOP593 million per day, analysts DS Kim, Mufan Shi and Selina Li wrote in a recent note.
\n\n\n\n“This implies that last week’s run rate improved by 15% y/y to MOP635 million/day (from only MOP550 million/day in week 1) as summer holiday demand gradually kicked in,” they wrote.
\n\n\n\nA gradual improvement in casino revenues is also expected following the recent conclusion of the UEFA European Championship.
\n\n\n\nIn terms of the mass market, the current level is at 105 to 110 per cent of the pre-Covid level, while VIP is around the low to mid-20 per cent range.
\n\n\n\n“This is a little softer than the trends in Q2, but this is a weekly trend that can be very volatile either way and we wouldn’t read too much into the print just yet,” the analysts add.
\n\n\n\nSince the end of last week, an average of 87,000 people a day have been visiting the city, according to the Macao Government Tourism Office.
\n\n\n\nThe authorities expect hotel occupancy to rise to 90 per cent, up from 88 per cent in the first half of the year.
\n", "content_text": "Macau is expected to generate MOP18.5 billion (US$2.3 billion) in gross gaming revenue this month, a figure slightly below the original forecast of MOP19 billion.\n\n\n\nAccording to JP Morgan Securities Asia Pacific, the downward revision is due to a “slower start to the month”. \n\n\n\nThe first 14 days of the month saw only about MOP8.3 billion, or MOP593 million per day, analysts DS Kim, Mufan Shi and Selina Li wrote in a recent note.\n\n\n\n“This implies that last week’s run rate improved by 15% y/y to MOP635 million/day (from only MOP550 million/day in week 1) as summer holiday demand gradually kicked in,” they wrote.\n\n\n\nA gradual improvement in casino revenues is also expected following the recent conclusion of the UEFA European Championship.\n\n\n\nIn terms of the mass market, the current level is at 105 to 110 per cent of the pre-Covid level, while VIP is around the low to mid-20 per cent range.\n\n\n\n“This is a little softer than the trends in Q2, but this is a weekly trend that can be very volatile either way and we wouldn’t read too much into the print just yet,” the analysts add.\n\n\n\nSince the end of last week, an average of 87,000 people a day have been visiting the city, according to the Macao Government Tourism Office. \n\n\n\nThe authorities expect hotel occupancy to rise to 90 per cent, up from 88 per cent in the first half of the year.", "date_published": "July 15, 2024", "date_modified": "July 15, 2024 - 15:51", "author": { "name": "Aries Un", "url": "https://www.macaubusiness.com/author/aries-un/", "avatar": "https://secure.gravatar.com/avatar/7ae1d1264b8afa0640eb6915aab8c425?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/03/IMG_0171.jpeg", "tags": [ "Gaming", "Macau", "MNA", "MNA Featured" ], "summary": "Macau is expected to generate MOP18.5 billion (US$2.3 billion) in gross gaming revenue this month, a figure slightly below the original forecast of MOP19 billion." }, { "id": "https://www.macaubusiness.com/former-suncity-group-defends-contributions-to-macau-sar-in-social-media-statement/", "url": "https://www.macaubusiness.com/former-suncity-group-defends-contributions-to-macau-sar-in-social-media-statement/", "title": "Former Suncity Group defends contributions to Macau SAR in social media statement", "content_html": "![\"\"](\"https://mbusiness.sgp1.digitaloceanspaces.com/2020/09/suncity-150x150.jpg\")
\nSuncity Group, the former prominent junket company in Macau, took to Facebook to reflect on its contributions to the city amidst ongoing legal challenges faced by its former executives.
\n\n\n\nAlvin Chau, the former CEO of Suncity Group, was sentenced to 18 years in prison following a trial in 2022-2023 centered around under-the-table betting and illicit online gaming operations.
\n\n\n\nThe company itself terminated its operations in the Macau SAR after the arrests of its management, with its assets auctioned by authorities to pay for compensation demands.
\n\n\n\nHowever, the group’s remaining Facebook page has suddenly issued a heartfelt post – the first since November 2021 – in which the Suncity Group addressed former colleagues and friends, reflecting on its connection to Macau and contributions to the city.
\n\n\n\n“It’s been over two years already! This period, neither too long nor too short, has been enough for me to thoroughly reflect on the past 16 years or so,” the post stated.
\n\n\n\nThe post highlighted the company’s deep roots in Macau, emphasizing its founder’s dedication to the city’s growth and development since establishing Suncity Group in 2007. “Macau is my home and my roots!” the post declared, underscoring the founder’s lifelong commitment to enhancing the city’s global standing.
\n\n\n\nSuncity Group detailed its “extensive efforts” to promote Macau as a leading entertainment and cultural hub, stating that over the years, the company has organized and sponsored over 50 major concerts and performances, and heavily invested in promoting Macau as a premier tourism destination.
\n\n\n\nKey sponsored events include the Macau Grand Prix, the Macau International Film Festival, the Wushu Masters Challenge, and the Miss Macau pageant.
\n\n\n\n“Additionally, Suncity Group has been a strong supporter of social welfare and sports development in Macau. The company has made significant charitable donations, established the Suncity volunteer team, and founded several sports teams, including football, basketball, and dragon boat teams. The Youth Inspiration Association, another initiative by the company, aims to nurture the city’s young talent,” the post read.
\n\n\n\n“The only reason I have contributed so much to Macau is because I truly love this place!” it read.
\n\n\n\nThe post resembles an \u201copen letter\u201d issued by Chau to President Xi Jinping, pleading for a reduction in the 18-year prison sentence imposed by the Court of First Instance in January.
\n\n\n\nIn a recent development, Macau\u2019s Court of Final Appeal rejected Chau’s appeal, upholding his 18-year sentence.
\n\n\n\nEight other co-appellants also had their appeals denied. The court maintained the original sentences of between 9 and 18 years for Si Tou Chi Hou, Cheung Yat Ping Ellute, Ali Celestino, Cheong Chi Kin, Chau Chun Hee, Lou Seak Fong, Wong Pak Ling Philip, and Leong Su Weng.
\n\n\n\nThe prosecution’s appeal for harsher sentences was also rejected. The defendants are now required to pay a total of HKD24.865 billion (MOP25.61 billion/US$3.18 billion) to the Macau SAR, as stipulated under the new ruling.
\n\n\n\nIn January 2023 the Hong Kong-listed Suncity group entity was rebranded as LET Group, with Andrew Lo Kai Bang, a former executive in Suncity appointed as its chairman.
\n\n\n\nLET holds a nearly 70 percent stake in Summit Ascent, responsible for managing hotel and gaming businesses within the Integrated Entertainment Zone located in the Primorye Region of the Russian Federation.
\n", "content_text": "Suncity Group, the former prominent junket company in Macau, took to Facebook to reflect on its contributions to the city amidst ongoing legal challenges faced by its former executives.\n\n\n\nAlvin Chau, the former CEO of Suncity Group, was sentenced to 18 years in prison following a trial in 2022-2023 centered around under-the-table betting and illicit online gaming operations.\n\n\n\nThe company itself terminated its operations in the Macau SAR after the arrests of its management, with its assets auctioned by authorities to pay for compensation demands.\n\n\n\nHowever, the group’s remaining Facebook page has suddenly issued a heartfelt post – the first since November 2021 – in which the Suncity Group addressed former colleagues and friends, reflecting on its connection to Macau and contributions to the city. \n\n\n\n“It’s been over two years already! This period, neither too long nor too short, has been enough for me to thoroughly reflect on the past 16 years or so,” the post stated.\n\n\n\nThe post highlighted the company’s deep roots in Macau, emphasizing its founder’s dedication to the city’s growth and development since establishing Suncity Group in 2007. “Macau is my home and my roots!” the post declared, underscoring the founder’s lifelong commitment to enhancing the city’s global standing.\n\n\n\nSuncity Group detailed its “extensive efforts” to promote Macau as a leading entertainment and cultural hub, stating that over the years, the company has organized and sponsored over 50 major concerts and performances, and heavily invested in promoting Macau as a premier tourism destination. \n\n\n\nKey sponsored events include the Macau Grand Prix, the Macau International Film Festival, the Wushu Masters Challenge, and the Miss Macau pageant.\n\n\n\n“Additionally, Suncity Group has been a strong supporter of social welfare and sports development in Macau. The company has made significant charitable donations, established the Suncity volunteer team, and founded several sports teams, including football, basketball, and dragon boat teams. The Youth Inspiration Association, another initiative by the company, aims to nurture the city’s young talent,” the post read.\n\n\n\n“The only reason I have contributed so much to Macau is because I truly love this place!” it read.\n\n\n\nThe post resembles an \u201copen letter\u201d issued by Chau to President Xi Jinping, pleading for a reduction in the 18-year prison sentence imposed by the Court of First Instance in January.\n\n\n\nIn a recent development, Macau\u2019s Court of Final Appeal rejected Chau’s appeal, upholding his 18-year sentence. \n\n\n\nEight other co-appellants also had their appeals denied. The court maintained the original sentences of between 9 and 18 years for Si Tou Chi Hou, Cheung Yat Ping Ellute, Ali Celestino, Cheong Chi Kin, Chau Chun Hee, Lou Seak Fong, Wong Pak Ling Philip, and Leong Su Weng.\n\n\n\nThe prosecution’s appeal for harsher sentences was also rejected. The defendants are now required to pay a total of HKD24.865 billion (MOP25.61 billion/US$3.18 billion) to the Macau SAR, as stipulated under the new ruling.\n\n\n\nIn January 2023 the Hong Kong-listed Suncity group entity was rebranded as LET Group, with Andrew Lo Kai Bang, a former executive in Suncity appointed as its chairman.\n\n\n\nLET holds a nearly 70 percent stake in Summit Ascent, responsible for managing hotel and gaming businesses within the Integrated Entertainment Zone located in the Primorye Region of the Russian Federation.", "date_published": "July 14, 2024", "date_modified": "July 15, 2024 - 16:43", "author": { "name": "Nelson Moura", "url": "https://www.macaubusiness.com/author/nelson-moura/", "avatar": "https://secure.gravatar.com/avatar/8580623bdcd7b18171598f6c6c4d3f59?s=512&d=mm&r=g" }, "image": "https://mbusiness.sgp1.digitaloceanspaces.com/2020/09/suncity.jpg", "tags": [ "Gaming", "Macau", "MNA" ], "summary": "Suncity Group, the former prominent junket company in Macau, took to Facebook to reflect on its contributions to the city amidst ongoing legal challenges faced by its former executives." }, { "id": "https://www.macaubusiness.com/slotting-into-place/", "url": "https://www.macaubusiness.com/slotting-into-place/", "title": "Slotting into place", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/013A0028-150x150.jpg\")
\nWith revenues doubling in Asia over the past 12 months in the post-COVID era, leading machine maker and gaming supplier Aristocrat Gaming is bullish about regional prospects and is actively pursuing double-digit growth while doubling down on Macau through investments in products, infrastructure, and personnel, says Asia GM Lloyd Robson.
\n\n\n\nBy Tony Lai
\n\n\n\n
\u201cA growing industry is a tailwind behind us as a supplier, but you’ve got to have the right products at the right time to be able to help drive that growth.\u201d
The past 12 months have proven to be a period of triumph for Aristocrat Gaming, a slot machine maker and games provider, as its strategic investments in the Asian market in recent years began bearing fruit in the post-Covid landscape.
\n\n\n\n\u201cFor us, the business has been accelerating quicker and quicker,\u201d Lloyd Robson, general manager for Asia at Aristocrat Gaming, expressed his enthusiasm for the company’s performance in the post-Covid era. \u201cOur revenues have doubled in the last 12 months [in Asia], and there’ve been multiple contributing factors across the region \u2014 Macau has been a part of that, as have the Philippines, Singapore, and the rest of Southeast Asia.\u201d
\n\n\n\nIn Macau, the gross gaming revenue (GGR) surged by 41.9 percent year-on-year, reaching MOP113.7 billion (US$12 billion) in the first six months of 2024. Across other markets in Asia, the Philippine gaming sector, including operations beyond land-based casinos, achieved a record high of PHP81.70 billion (US$1.42 billion) in GGR during the first quarter of 2024, marking an 18.5 percent increase from the same period the previous year.
\n\n\n\nAristocrat\u2019s success does not only rely on the recovery of Asian gaming jurisdictions but also on its steadfast investments in the region. \u201cA growing industry is a tailwind behind us as a supplier, but you’ve got to have the right products at the right time to be able to help drive that growth,\u201d Mr. Robson said in an interview.
\n\n\n\nGames for Asia
\n\n\n\n\u201cOne of the decisions we made in the middle of the pandemic \u2014 when decisions were difficult to make \u2014 was to continue to build and invest in our content portfolio,\u201d he said. \u201cWe’re building more games now for Asia than we ever have.\u201d
\n\n\n\nThe slot supplier now has 13 global studios for product development, with nine of them building games for the Asian market. \u201cWe make a really concerted effort to ensure the games we’ve brought to Asia are not just tweaks of global games. They’re games that the designers spent time in the market, listening to [casino] operators and players,\u201d he exemplified.
\n\n\n\n\u201cThe fruits of that labour really started to be seen from about the middle of last year,\u201d he continued. \u201cOur product performance has just gotten better and better over the last 18 months, combined with markets opening up and more players joining casino floors.\u201d
\n\n\n\nOne example of Aristocrat’s success is its popular title \u201cDragon Link,\u201d which is performing \u201cexceptionally well on mass and high-limit floors\u201d in Asian casinos, according to the general manager. At the recent Global Gaming Expo (G2E) Asia 2024, a major regional trade show for the casino industry held in Macau in early June, the supplier showcased an extensive game portfolio that went beyond \u201cDragon Link.\u201d Some of the featured titles included \u201cGrand Legends: Great King,\u201d \u201cGrand Legends: Royal Emperor,\u201d \u201cCaifu Zhong Sheng: Dragon,\u201d \u201cBao Zhu Zhao Fu,\u201d and others.
\n\n\n\nAristocrat Gaming’s parent company, Australia-listed Aristocrat Leisure Ltd, recently reported a year-on-year revenue increase of 6.1 percent to about AUD3.27 billion (US$2.19 billion) in its financial first half. In the October-March 2024 period, its interim profit after tax and before amortisation of acquired intangibles (NPATA) rose 8.6 percent year-on-year to AUD752.1 million.
\n\n\n\n
\u201cWe’ve been building out our marketing structure… to partner with casinos and bring products to life in a different fashion on the casino floor.\u201d
![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/013A0139.jpg\")
New standards
\n\n\n\nThe robust performance of the slot supplier in the Macau market can also be attributed to the ongoing replacement of electronic gaming machines (EGMs). Macau operators are upgrading their EGMs to comply with the new EGM Technical Standards mandated by the local gaming regulator, the Gaming Inspection and Coordination Bureau (DICJ). By 31 December 2026, all EGMs in Macau must fully comply with the new standards.
\n\n\n\nGiven the cap of 12,000 gaming machines permitted on Macau casino floors, Mr. Robson estimated that about 35 percent of the machines in the market have been compliant with the new standards, indicating that operators are on track to meet the 2026 deadline.
\n\n\n\n
\u201cWe’ve been trying to recruit younger, energetic [and] hungry people who want to grow within Asia and the Macau gaming market.\u201d
Infrastructure and talent
\n\n\n\nAside from continuous investments in products, Aristocrat Gaming also emphasises investments in infrastructure and personnel. After opening its first dedicated gaming showroom in the Philippines last year, the supplier spent six months renovating its office and showroom in downtown Macau. The newly revamped facilities in Macau were unveiled in early June, ahead of the G2E Asia 2024.
\n\n\n\n\u201cWe’ve been in this facility for 20 years… but this was the most significant investment that we put into rebuilding the infrastructure to create an environment that is very different for Macau,\u201d Mr. Robson stated. \u201cIt’s designed to drive collaboration and engagement, not just for our employees but also for our customers and regulators.\u201d
\n\n\n\nAristocrat’s operation in Macau has also seen an expansion in its corporate structure, with the addition of roles in analytics, marketing, and sales. This has increased the headcount of the Macau team to over 20. \u201cHistorically, the supplier-casino relationship has been focused on providing games, selling products, and moving on,\u201d he explained, highlighting the importance of the new roles.
\n\n\n\n\u201cBut we’re really trying to deepen those partnerships and add value in areas that are not as invested in across the industry,\u201d the general manager stated. For instance, the supplier\u2019s analytics roles could analyse the data of its titles \u201cto ultimately help [casino] operators drive incremental GGR,\u201d he added.
\n\n\n\n![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/013A0079.jpg\")
Significance of marketing
\n\n\n\nMarketing also plays a crucial role in attracting players, particularly young players, to slot machines. \u201cWe’ve been building out our marketing structure… to partner with casinos and bring products to life in a different fashion on the casino floor,\u201d Mr. Robson remarked. \u201cThe core slot demographic across the region has typically been of an older vintage.\u201d
\n\n\n\n\u201cSo one of the things that we’ve been doing is partnering with operators, especially in a marketing capacity,\u201d he continued. \u201cHow do we package up? How do we retail up? How do we theme our games to create an experience that they [players] haven’t had before? It’s more than just putting a game on the floor and hoping the game will work.\u201d
\n\n\n\nAristocrat also focuses on cultivating local talent, as 95 percent of its Macau team consist of locals. \u201cWe’re really committed to our local team and growing local talent over the last three or four years,\u201d he added. \u201cWe’ve been trying to recruit younger, energetic [and] hungry people who want to grow within Asia and the Macau gaming market.\u201d
\n\n\n\n
\u201cWe’re bullish on Asia, and we’re also bullish on the electronic gaming segment, as many markets around Asia have refocused on the mass market, which also lends itself to electronic gaming.\u201d
![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/013A0006.jpg\")
Double-digit growth
\n\n\n\nWith expectations of continuous recovery and steady growth across the Asian continent, Aristocrat Gaming is confident in the prospects of the regional market. \u201cThere’s a lot of growth in front of us and right across the region,\u201d the general manager stated. \u201c[We have] a double-digit growth expectation coming out of Asia.\u201d
\n\n\n\n\u201cIf you look into the next five years, you see a growing Macau market and an expanding Philippine market, led by the president of the Philippines and the chairman of PAGCOR, who are very pro-business,\u201d he explained, referring to the gaming regulator of the Southeast Asian country, the Philippine Amusement and Gaming Corporation (PAGCOR). \u201cThere are also expanding markets in Singapore, Vietnam [and] Cambodia, not to mention markets like Thailand and Japan on the horizon.\u201d
\n\n\n\nA consortium led by MGM Resorts International and Japanese firm Orix Corp is currently constructing Japan’s first integrated resort with a casino in the prefecture of Osaka, scheduled to open in 2030. Meanwhile, Thailand is in the midst of discussions about legalising casino resorts in the country, with lawmakers endorsing a feasibility study earlier this year.
\n\n\n\n\u201cWe’re bullish on Asia, and we’re also bullish on the electronic gaming segment, as many markets around Asia have refocused on the mass market, which also lends itself to electronic gaming,\u201d Mr. Robson expressed. \u201cAs one of the leaders in the electronic space, we are pretty excited about what we see for the future.\u201d
\n\n\n\nContinuous investments
\n\n\n\nTo seize the opportunities across the region, the supplier is committed to continuous investments. \u201cWe will continue to invest in our people, our products, and our infrastructure,\u201d he emphasised. \u201cWe’re really focused on providing a diversified portfolio that hits different player segments in order to drive incremental GGR [for casino operators].\u201d
\n\n\n\n\u201cWe have been able to demonstrate over the last 12 months what investments in Asia can deliver, and we have the backing to go after Asia for the next five years and beyond,\u201d he concluded.
\n\n\n\n\n", "content_text": "With revenues doubling in Asia over the past 12 months in the post-COVID era, leading machine maker and gaming supplier Aristocrat Gaming is bullish about regional prospects and is actively pursuing double-digit growth while doubling down on Macau through investments in products, infrastructure, and personnel, says Asia GM Lloyd Robson.\n\n\n\nBy Tony Lai\n\n\n\n\n\n\n\n \u201cA growing industry is a tailwind behind us as a supplier, but you’ve got to have the right products at the right time to be able to help drive that growth.\u201d \n\n\n\nThe past 12 months have proven to be a period of triumph for Aristocrat Gaming, a slot machine maker and games provider, as its strategic investments in the Asian market in recent years began bearing fruit in the post-Covid landscape.\n\n\n\n\u201cFor us, the business has been accelerating quicker and quicker,\u201d Lloyd Robson, general manager for Asia at Aristocrat Gaming, expressed his enthusiasm for the company’s performance in the post-Covid era. \u201cOur revenues have doubled in the last 12 months [in Asia], and there’ve been multiple contributing factors across the region \u2014 Macau has been a part of that, as have the Philippines, Singapore, and the rest of Southeast Asia.\u201d\n\n\n\nIn Macau, the gross gaming revenue (GGR) surged by 41.9 percent year-on-year, reaching MOP113.7 billion (US$12 billion) in the first six months of 2024. Across other markets in Asia, the Philippine gaming sector, including operations beyond land-based casinos, achieved a record high of PHP81.70 billion (US$1.42 billion) in GGR during the first quarter of 2024, marking an 18.5 percent increase from the same period the previous year.\n\n\n\nAristocrat\u2019s success does not only rely on the recovery of Asian gaming jurisdictions but also on its steadfast investments in the region. \u201cA growing industry is a tailwind behind us as a supplier, but you’ve got to have the right products at the right time to be able to help drive that growth,\u201d Mr. Robson said in an interview.\n\n\n\n\n\n\n\nGames for Asia\n\n\n\n\u201cOne of the decisions we made in the middle of the pandemic \u2014 when decisions were difficult to make \u2014 was to continue to build and invest in our content portfolio,\u201d he said. \u201cWe’re building more games now for Asia than we ever have.\u201d\n\n\n\nThe slot supplier now has 13 global studios for product development, with nine of them building games for the Asian market. \u201cWe make a really concerted effort to ensure the games we’ve brought to Asia are not just tweaks of global games. They’re games that the designers spent time in the market, listening to [casino] operators and players,\u201d he exemplified. \n\n\n\n\u201cThe fruits of that labour really started to be seen from about the middle of last year,\u201d he continued. \u201cOur product performance has just gotten better and better over the last 18 months, combined with markets opening up and more players joining casino floors.\u201d\n\n\n\nOne example of Aristocrat’s success is its popular title \u201cDragon Link,\u201d which is performing \u201cexceptionally well on mass and high-limit floors\u201d in Asian casinos, according to the general manager. At the recent Global Gaming Expo (G2E) Asia 2024, a major regional trade show for the casino industry held in Macau in early June, the supplier showcased an extensive game portfolio that went beyond \u201cDragon Link.\u201d Some of the featured titles included \u201cGrand Legends: Great King,\u201d \u201cGrand Legends: Royal Emperor,\u201d \u201cCaifu Zhong Sheng: Dragon,\u201d \u201cBao Zhu Zhao Fu,\u201d and others.\n\n\n\nAristocrat Gaming’s parent company, Australia-listed Aristocrat Leisure Ltd, recently reported a year-on-year revenue increase of 6.1 percent to about AUD3.27 billion (US$2.19 billion) in its financial first half. In the October-March 2024 period, its interim profit after tax and before amortisation of acquired intangibles (NPATA) rose 8.6 percent year-on-year to AUD752.1 million.\n\n\n\n \u201cWe’ve been building out our marketing structure… to partner with casinos and bring products to life in a different fashion on the casino floor.\u201d \n\n\n\n\n\n\n\nNew standards\n\n\n\nThe robust performance of the slot supplier in the Macau market can also be attributed to the ongoing replacement of electronic gaming machines (EGMs). Macau operators are upgrading their EGMs to comply with the new EGM Technical Standards mandated by the local gaming regulator, the Gaming Inspection and Coordination Bureau (DICJ). By 31 December 2026, all EGMs in Macau must fully comply with the new standards. \n\n\n\nGiven the cap of 12,000 gaming machines permitted on Macau casino floors, Mr. Robson estimated that about 35 percent of the machines in the market have been compliant with the new standards, indicating that operators are on track to meet the 2026 deadline.\n\n\n\n \u201cWe’ve been trying to recruit younger, energetic [and] hungry people who want to grow within Asia and the Macau gaming market.\u201d \n\n\n\nInfrastructure and talent\n\n\n\nAside from continuous investments in products, Aristocrat Gaming also emphasises investments in infrastructure and personnel. After opening its first dedicated gaming showroom in the Philippines last year, the supplier spent six months renovating its office and showroom in downtown Macau. The newly revamped facilities in Macau were unveiled in early June, ahead of the G2E Asia 2024.\n\n\n\n\u201cWe’ve been in this facility for 20 years… but this was the most significant investment that we put into rebuilding the infrastructure to create an environment that is very different for Macau,\u201d Mr. Robson stated. \u201cIt’s designed to drive collaboration and engagement, not just for our employees but also for our customers and regulators.\u201d\n\n\n\nAristocrat’s operation in Macau has also seen an expansion in its corporate structure, with the addition of roles in analytics, marketing, and sales. This has increased the headcount of the Macau team to over 20. \u201cHistorically, the supplier-casino relationship has been focused on providing games, selling products, and moving on,\u201d he explained, highlighting the importance of the new roles. \n\n\n\n\u201cBut we’re really trying to deepen those partnerships and add value in areas that are not as invested in across the industry,\u201d the general manager stated. For instance, the supplier\u2019s analytics roles could analyse the data of its titles \u201cto ultimately help [casino] operators drive incremental GGR,\u201d he added. \n\n\n\n\n\n\n\nSignificance of marketing\n\n\n\nMarketing also plays a crucial role in attracting players, particularly young players, to slot machines. \u201cWe’ve been building out our marketing structure… to partner with casinos and bring products to life in a different fashion on the casino floor,\u201d Mr. Robson remarked. \u201cThe core slot demographic across the region has typically been of an older vintage.\u201d\n\n\n\n\u201cSo one of the things that we’ve been doing is partnering with operators, especially in a marketing capacity,\u201d he continued. \u201cHow do we package up? How do we retail up? How do we theme our games to create an experience that they [players] haven’t had before? It’s more than just putting a game on the floor and hoping the game will work.\u201d\n\n\n\nAristocrat also focuses on cultivating local talent, as 95 percent of its Macau team consist of locals. \u201cWe’re really committed to our local team and growing local talent over the last three or four years,\u201d he added. \u201cWe’ve been trying to recruit younger, energetic [and] hungry people who want to grow within Asia and the Macau gaming market.\u201d\n\n\n\n \u201cWe’re bullish on Asia, and we’re also bullish on the electronic gaming segment, as many markets around Asia have refocused on the mass market, which also lends itself to electronic gaming.\u201d \n\n\n\n\n\n\n\nDouble-digit growth\n\n\n\nWith expectations of continuous recovery and steady growth across the Asian continent, Aristocrat Gaming is confident in the prospects of the regional market. \u201cThere’s a lot of growth in front of us and right across the region,\u201d the general manager stated. \u201c[We have] a double-digit growth expectation coming out of Asia.\u201d\n\n\n\n\u201cIf you look into the next five years, you see a growing Macau market and an expanding Philippine market, led by the president of the Philippines and the chairman of PAGCOR, who are very pro-business,\u201d he explained, referring to the gaming regulator of the Southeast Asian country, the Philippine Amusement and Gaming Corporation (PAGCOR). \u201cThere are also expanding markets in Singapore, Vietnam [and] Cambodia, not to mention markets like Thailand and Japan on the horizon.\u201d\n\n\n\nA consortium led by MGM Resorts International and Japanese firm Orix Corp is currently constructing Japan’s first integrated resort with a casino in the prefecture of Osaka, scheduled to open in 2030. Meanwhile, Thailand is in the midst of discussions about legalising casino resorts in the country, with lawmakers endorsing a feasibility study earlier this year.\n\n\n\n\u201cWe’re bullish on Asia, and we’re also bullish on the electronic gaming segment, as many markets around Asia have refocused on the mass market, which also lends itself to electronic gaming,\u201d Mr. Robson expressed. \u201cAs one of the leaders in the electronic space, we are pretty excited about what we see for the future.\u201d\n\n\n\nContinuous investments\n\n\n\nTo seize the opportunities across the region, the supplier is committed to continuous investments. \u201cWe will continue to invest in our people, our products, and our infrastructure,\u201d he emphasised. \u201cWe’re really focused on providing a diversified portfolio that hits different player segments in order to drive incremental GGR [for casino operators].\u201d\n\n\n\n\u201cWe have been able to demonstrate over the last 12 months what investments in Asia can deliver, and we have the backing to go after Asia for the next five years and beyond,\u201d he concluded.", "date_published": "July 14, 2024", "date_modified": "July 13, 2024 - 10:54", "author": { "name": "Tony Lai", "url": "https://www.macaubusiness.com/author/tony-lai/", "avatar": "https://secure.gravatar.com/avatar/a5b778e54892854e651e4df2f269cb0d?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/013A0028.jpg", "tags": [ "Gaming", "Macau", "Macau Business", "MAG", "MAG Featured", "MB", "MB Featured" ], "summary": "With revenues doubling in Asia over the past 12 months in the post-COVID era, leading machine maker and gaming supplier Aristocrat Gaming is bullish about regional prospects and is actively pursuing double-digit growth while doubling down on Macau through investments in products, infrastructure, and personnel, says Asia GM Lloyd Robson." }, { "id": "https://www.macaubusiness.com/gaming-watchdog-announces-2025-caps-on-junkets-and-partners/", "url": "https://www.macaubusiness.com/gaming-watchdog-announces-2025-caps-on-junkets-and-partners/", "title": "Gaming watchdog announces 2025 caps on junkets and partners", "content_html": "\nMacau will continue to allow the operation of 50 junkets in 2025, with the cap unchanged from this year.
\n\n\n\nThe cap was announced by the secretary for economy and finance late last month, with Venetian Macau, S.A. and SJM Resorts, S.A. each allowed 12.
\n\n\n\nBoth Galaxy Casino, S.A. and Wynn Resorts (Macau), S.A. will be allowed to operate with five.
\n\n\n\nMelco Resorts (Macau), S.A. and MGM Grand Paradise, S.A. are allowed to have eight partners each.
\n\n\n\nHowever, as of June this year, less than half of the approved number of junket operators, namely 22, were active, according to the Gaming Inspection and Coordination Bureau, or DICJ in Portuguese.
\n\n\n\nThat’s up from the beginning of the year, when there were 18 – half the number registered at the start of 2023.
\n\n\n\nAt that time, there were 36 junket operators operating when the new junket law came into force.
\n\n\n\nIn a separate update, the number of junket partners will be capped at 250, with the decision announced late last week – the same number as this year.
\n\n\n\nAs of April this year, there were seven partners registered with the casino regulator.
\n", "content_text": "Macau will continue to allow the operation of 50 junkets in 2025, with the cap unchanged from this year.\n\n\n\nThe cap was announced by the secretary for economy and finance late last month, with Venetian Macau, S.A. and SJM Resorts, S.A. each allowed 12. \n\n\n\nBoth Galaxy Casino, S.A. and Wynn Resorts (Macau), S.A. will be allowed to operate with five. \n\n\n\nMelco Resorts (Macau), S.A. and MGM Grand Paradise, S.A. are allowed to have eight partners each. \n\n\n\nHowever, as of June this year, less than half of the approved number of junket operators, namely 22, were active, according to the Gaming Inspection and Coordination Bureau, or DICJ in Portuguese.\n\n\n\nThat’s up from the beginning of the year, when there were 18 – half the number registered at the start of 2023. \n\n\n\nAt that time, there were 36 junket operators operating when the new junket law came into force.\n\n\n\nIn a separate update, the number of junket partners will be capped at 250, with the decision announced late last week – the same number as this year.\n\n\n\nAs of April this year, there were seven partners registered with the casino regulator.", "date_published": "July 12, 2024", "date_modified": "July 12, 2024 - 19:45", "author": { "name": "Aries Un", "url": "https://www.macaubusiness.com/author/aries-un/", "avatar": "https://secure.gravatar.com/avatar/7ae1d1264b8afa0640eb6915aab8c425?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/01/5_imagem.jpg", "tags": [ "Gaming", "Macau", "MNA" ] }, { "id": "https://www.macaubusiness.com/gaming-h2-results-likely-impacted-by-money-exchange-crackdown-china-macroeconomy/", "url": "https://www.macaubusiness.com/gaming-h2-results-likely-impacted-by-money-exchange-crackdown-china-macroeconomy/", "title": "Gaming H2 results likely impacted by money exchange crackdown, China macroeconomy \u2013 Brokerage", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/casino-chips-1392x928-150x150.jpeg\")
\nMacau\u2019s gaming sector EBITDA growth is likely to see a slowdown in June and July due to mainland China\u2019s money exchange crackdown, brokerage firm Morgan Stanley said.
\n\n\n\nIn a recent update, analysts Praveen K. Choudhary, Gareth Leung, and Stephen W. Grambling highlighted that the second quarter is projected to report the first negative quarter-on-quarter growth in both industry mass gross gaming revenue(GGR) and corporate EBITDA since the post-COVID-19 reopening.
\n\n\n\nThe forecast suggests a 2 per cent quarter-on-quarter decline in mass GGR, reaching 113 per cent of the 2019 level, while corporate EBITDA is expected to decrease by 7 per cent quarter-on-quarter, reaching 80 per cent of the pre-pandemic level.
Comparing the full-year 2024 EBITDA consensus with the run rate of the first half of this year, the analysts pointed out that a 5 per cent half-year over half-year growth is necessary in the second half of this year to achieve the full-year 2024 consensus.
However, the brokerage firm predicts that June and July will see a slowdown due to the money exchange crackdown, while weaker macroeconomic conditions, consumption, and retail sales in China could persist in the third quarter and impact the Macau market.
Earlier in June, China\u2019s Ministry of Public Security urged security forces in Macau and the mainland to strengthen cooperation in cracking down on illegal money exchange businesses in the Macau SAR.
The so-called \u2018money changers\u2019, present around the city\u2019s casinos, have been identified as a key method for moving funds across different jurisdictions, particularly between the mainland and Macau.
In the report, the analysts also anticipate that the fourth-quarter results will be negatively impacted by the visit of China’s President Xi Jinping.
President Xi is expected to visit Macau to mark the 25th anniversary of its handover to China by the end of this year.
\n", "content_text": "Macau\u2019s gaming sector EBITDA growth is likely to see a slowdown in June and July due to mainland China\u2019s money exchange crackdown, brokerage firm Morgan Stanley said.\n\n\n\nIn a recent update, analysts Praveen K. Choudhary, Gareth Leung, and Stephen W. Grambling highlighted that the second quarter is projected to report the first negative quarter-on-quarter growth in both industry mass gross gaming revenue(GGR) and corporate EBITDA since the post-COVID-19 reopening. \n\n\n\nThe forecast suggests a 2 per cent quarter-on-quarter decline in mass GGR, reaching 113 per cent of the 2019 level, while corporate EBITDA is expected to decrease by 7 per cent quarter-on-quarter, reaching 80 per cent of the pre-pandemic level.\n\n\n\nComparing the full-year 2024 EBITDA consensus with the run rate of the first half of this year, the analysts pointed out that a 5 per cent half-year over half-year growth is necessary in the second half of this year to achieve the full-year 2024 consensus.\n\n\n\nHowever, the brokerage firm predicts that June and July will see a slowdown due to the money exchange crackdown, while weaker macroeconomic conditions, consumption, and retail sales in China could persist in the third quarter and impact the Macau market.\n\n\n\nEarlier in June, China\u2019s Ministry of Public Security urged security forces in Macau and the mainland to strengthen cooperation in cracking down on illegal money exchange businesses in the Macau SAR.\n\n\n\nThe so-called \u2018money changers\u2019, present around the city\u2019s casinos, have been identified as a key method for moving funds across different jurisdictions, particularly between the mainland and Macau.\n\n\n\nIn the report, the analysts also anticipate that the fourth-quarter results will be negatively impacted by the visit of China’s President Xi Jinping.\n\n\n\nPresident Xi is expected to visit Macau to mark the 25th anniversary of its handover to China by the end of this year.", "date_published": "July 11, 2024", "date_modified": "July 11, 2024 - 14:23", "author": { "name": "Therese Tu", "url": "https://www.macaubusiness.com/author/therese/", "avatar": "https://secure.gravatar.com/avatar/1d763f17b928c3298f1b719855931b70?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/casino-chips-1392x928.jpeg", "tags": [ "Gaming", "Macau", "MNA", "MNA Featured" ], "summary": "Macau\u2019s gaming sector EBITDA growth is likely to see a slowdown in June and July due to mainland China\u2019s money exchange crackdown, brokerage firm Morgan Stanley said." }, { "id": "https://www.macaubusiness.com/gaming-tax-revenue-tops-mop44-79-bln-in-h1/", "url": "https://www.macaubusiness.com/gaming-tax-revenue-tops-mop44-79-bln-in-h1/", "title": "Gaming tax revenue tops MOP44.79 bln in H1", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Weixin-Image_20240709193111-150x150.png\")
\nThe Macau government collected a total of MOP44.79 billion (US$5.57 billion) in gaming taxes in the first half of this year, representing a year-on-year increase of 67.2 per cent.
\n\n\n\nAccording to the latest data provided by the Financial Services Bureau, from January to June, current revenue reached MOP52.75 billion, the highest since 2020, at the onset of the Covid-19 pandemic.
\n\n\n\nIn June alone, government revenue generated from gaming was around MOP7.78 billion, indicating a monthly rise of 8.7 per cent.
\n\n\n\nTotal expenditure for the first half of the year amounted to MOP45 billion, reflecting a year-on-year increase of 8.7 per cent.
\n\n\n\nAs of the end of June, Macau recorded a surplus of MOP7.68 billion.
\n", "content_text": "The Macau government collected a total of MOP44.79 billion (US$5.57 billion) in gaming taxes in the first half of this year, representing a year-on-year increase of 67.2 per cent.\n\n\n\nAccording to the latest data provided by the Financial Services Bureau, from January to June, current revenue reached MOP52.75 billion, the highest since 2020, at the onset of the Covid-19 pandemic.\n\n\n\nIn June alone, government revenue generated from gaming was around MOP7.78 billion, indicating a monthly rise of 8.7 per cent.\n\n\n\nTotal expenditure for the first half of the year amounted to MOP45 billion, reflecting a year-on-year increase of 8.7 per cent.\n\n\n\nAs of the end of June, Macau recorded a surplus of MOP7.68 billion.", "date_published": "July 09, 2024", "date_modified": "July 09, 2024 - 19:34", "author": { "name": "Therese Tu", "url": "https://www.macaubusiness.com/author/therese/", "avatar": "https://secure.gravatar.com/avatar/1d763f17b928c3298f1b719855931b70?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Weixin-Image_20240709193111.png", "tags": [ "Gaming", "Macau", "MNA" ] }, { "id": "https://www.macaubusiness.com/wynn-macau-to-bring-evening-attractions-to-happiness-street/", "url": "https://www.macaubusiness.com/wynn-macau-to-bring-evening-attractions-to-happiness-street/", "title": "Wynn Macau to bring evening attractions to Happiness Street", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Untitled-4-150x150.jpg\")
\nMacau’s former red-light district is poised to tap into evening activities to attract customers and footfall.
\n\n\n\nThe plan was revealed by Linda Chen, president of Wynn Macau, during a media interview on the sidelines of a company event on Tuesday.
\n\n\n\nAs part of its contractual obligations with the government, the casino operator was tasked with revitalising Rua da Felicidade, a centuries-old street known for its sex trade past.
\n\n\n\nThe “Street of Happiness”, which was bustling until at least the 1940s, will soon be home to bars, Chen said, adding that celebrities would also be brought in to raise the street’s profile.
\n\n\n\nThe street has been pedestrianised for most of the day since late September last year.
\n\n\n\n![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Photo-3-1-1028x685.jpg\")
“It would take some time to meet the various needs of businesses in terms of improving facilities or communicating with business owners, as the street is a relatively time-honoured area with a history,” she said.
\n\n\n\nAccording to her, more than 10 small and medium-sized businesses have moved into the street.
\n\n\n\nLooking ahead to this summer, Chen painted a rosy picture, saying that the raft of policies announced by the central government would benefit the city.
\n\n\n\n“An additional pipeline of facilities and events is on the way,” she added. “I believe Macau’s economic environment and tourism will continue to improve.”
\n\n\n\nMacau’s average hotel occupancy rate reached 85.2 per cent in 2023, an increase of 47 percentage points year-on-year.
\n\n\n\nThe positive trend will continue upward, she said, citing Wynn Macau’s own steady occupancy rate.
\n", "content_text": "Macau’s former red-light district is poised to tap into evening activities to attract customers and footfall. \n\n\n\nThe plan was revealed by Linda Chen, president of Wynn Macau, during a media interview on the sidelines of a company event on Tuesday. \n\n\n\nAs part of its contractual obligations with the government, the casino operator was tasked with revitalising Rua da Felicidade, a centuries-old street known for its sex trade past. \n\n\n\nThe “Street of Happiness”, which was bustling until at least the 1940s, will soon be home to bars, Chen said, adding that celebrities would also be brought in to raise the street’s profile.\n\n\n\nThe street has been pedestrianised for most of the day since late September last year.\n\n\n\nLinda Chen, president of Wynn Macau, delivers an address to participants at an SME partnership meeting.\n\n\n\n“It would take some time to meet the various needs of businesses in terms of improving facilities or communicating with business owners, as the street is a relatively time-honoured area with a history,” she said.\n\n\n\nAccording to her, more than 10 small and medium-sized businesses have moved into the street.\n\n\n\nLooking ahead to this summer, Chen painted a rosy picture, saying that the raft of policies announced by the central government would benefit the city.\n\n\n\n“An additional pipeline of facilities and events is on the way,” she added. “I believe Macau’s economic environment and tourism will continue to improve.” \n\n\n\nMacau’s average hotel occupancy rate reached 85.2 per cent in 2023, an increase of 47 percentage points year-on-year. \n\n\n\nThe positive trend will continue upward, she said, citing Wynn Macau’s own steady occupancy rate.", "date_published": "July 09, 2024", "date_modified": "July 09, 2024 - 19:28", "author": { "name": "Aries Un", "url": "https://www.macaubusiness.com/author/aries-un/", "avatar": "https://secure.gravatar.com/avatar/7ae1d1264b8afa0640eb6915aab8c425?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Untitled-4.jpg", "tags": [ "Gaming", "Macau", "MNA", "MNA Featured" ], "summary": "Macau's former red-light district is poised to tap into evening activities to attract customers and footfall. " }, { "id": "https://www.macaubusiness.com/the-13-hotel-fully-booked-until-late-september/", "url": "https://www.macaubusiness.com/the-13-hotel-fully-booked-until-late-september/", "title": "The 13 Hotel \u2018fully booked\u2019 until late September", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Untitled-1-2-150x150.jpg\")
\nThe 13 Hotel has recently resumed its operations on a limited basis, with the Coloane-based property already “fully booked” until late September.
\n\n\n\nThe government has\nconfirmed the reopening of the establishment, as reported by public broadcaster\nTDM’s Portuguese radio service.
\n\n\n\nAfter years of\nremaining dormant amidst financial woes, the hotel is currently undergoing an\nextensive renovation project.
\n\n\n\nMacau News Agency (MNA) reached out to the hotel by phone and learnt that only walk-in and phone bookings are currently being accepted.
\n\n\n\nAn online search on\nmajor accommodation booking sites has yielded no available results.
\n\n\n\nAt present, only three restaurants are open at the hotel, while parking and chauffeur services are temporarily unavailable, MNA was told.
The 22-storey hotel was closed in February 2020 when the Covid pandemic began to dry up visitation to the city.
\n\n\n\nHowever, in March this year, JLL Hong Kong launched a public tendering for the opulent hotel, which was valued at HKD2.4 billion (US$310 million).
\n\n\n\nAlthough it boasts 199 guest rooms, 196 of which are luxurious, it is not yet known how many are now in operation.
\n\n\n\nMNA was just informed over the phone that bookings would not be accepted until at least late September.
\n\n\n\nEarlier this year, it\nwas revealed that the operator had applied to the Macao Government Tourism\nOffice for permission to jumpstart operations.
\n\n\n\nThe project was the brainchild of flamboyant Hong Kong businessman Stephen Hung, best known for his sensational announcement in 2014 of the US$20 million purchase of 30 bespoke Rolls-Royce Phantoms, with the majority of them sold years later to boost liquidity.
\n\n\n\nIt reportedly cost a whopping US$1.6 billion (MOP12.88 billion) to open in September 2018 after a series of delays caused by funding challenges.
\n", "content_text": "The 13 Hotel has recently resumed its operations on a limited basis, with the Coloane-based property already “fully booked” until late September. \n\n\n\nThe government has\nconfirmed the reopening of the establishment, as reported by public broadcaster\nTDM’s Portuguese radio service. \n\n\n\nAfter years of\nremaining dormant amidst financial woes, the hotel is currently undergoing an\nextensive renovation project.\n\n\n\nMacau News Agency (MNA) reached out to the hotel by phone and learnt that only walk-in and phone bookings are currently being accepted.\n\n\n\nAn online search on\nmajor accommodation booking sites has yielded no available results.\n\n\n\nAt present, only three restaurants are open at the hotel, while parking and chauffeur services are temporarily unavailable, MNA was told.\n\n\n\nThe 22-storey hotel was closed in February 2020 when the Covid pandemic began to dry up visitation to the city. \n\n\n\nHowever, in March this year, JLL Hong Kong launched a public tendering for the opulent hotel, which was valued at HKD2.4 billion (US$310 million). \n\n\n\nAlthough it boasts 199 guest rooms, 196 of which are luxurious, it is not yet known how many are now in operation.\n\n\n\nMNA was just informed over the phone that bookings would not be accepted until at least late September.\n\n\n\nEarlier this year, it\nwas revealed that the operator had applied to the Macao Government Tourism\nOffice for permission to jumpstart operations. \n\n\n\nThe project was the brainchild of flamboyant Hong Kong businessman Stephen Hung, best known for his sensational announcement in 2014 of the US$20 million purchase of 30 bespoke Rolls-Royce Phantoms, with the majority of them sold years later to boost liquidity.\n\n\n\nIt reportedly cost a whopping US$1.6 billion (MOP12.88 billion) to open in September 2018 after a series of delays caused by funding challenges. ", "date_published": "July 08, 2024", "date_modified": "July 08, 2024 - 22:50", "author": { "name": "Aries Un", "url": "https://www.macaubusiness.com/author/aries-un/", "avatar": "https://secure.gravatar.com/avatar/7ae1d1264b8afa0640eb6915aab8c425?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Untitled-1-2.jpg", "tags": [ "Gaming", "Macau", "MNA" ], "summary": "The 13 Hotel has recently resumed its operations on a limited basis, with the Coloane-based property already fully booked until late September. " }, { "id": "https://www.macaubusiness.com/beijing-reiterates-tough-stance-on-illegal-currency-traders1/", "url": "https://www.macaubusiness.com/beijing-reiterates-tough-stance-on-illegal-currency-traders1/", "title": "Beijing reiterates tough stance on illegal currency traders", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/IMG_7904-150x150.jpeg\")
\nA crackdown by the Ministry of Public Security on money changers has recently ensnared more than 100 suspects.
\n\n\n\nThis is according to the ministry, whose spokesman pledged greater attention to the illicit practice at a media briefing on Friday.
\n\n\n\nThe number of members of ‘money exchange gangs’ involved in illegal foreign exchange activities in Macau has increased significantly, Chen Shiqu, deputy crime bureau chief of the ministry, said.
\n\n\n\nAs a result, there has been a marked increase in the incidents of fraud, robbery, theft, kidnapping and illegal immigration arising from these operations, he added.
\n\n\n\nThe authorities said these gangs were mostly controlled by “hidden financiers”, with the exchange of Hong Kong dollars and renminbi being conducted through underground banks in neighbouring Zhuhai.
\n\n\n\nSuch underground operations are believed to have generated annual profits of more than HKD1.5 billion (US$190 million/MOP1.55 billion) .
\n\n\n\nCiting recent law\nenforcement efforts, authorities said a suspect caught in Jilin was involved in\na scam involving RMB10 million.
\n\n\n\nIn addition, in Jiangxi\nProvince, law enforcement officials successfully cracked down on a network\ninvolved in the illegal sale of immigration documents.
\n\n\n\nThis operation resulted in 30 arrests, while more than 100 illegal immigrants to Macau were found to have been involved in such operations.
\n\n\n\nEarlier this week, Seaport Research Partners analyst Vitaly Umansky warned of the negative impact of a nationwide crackdown on unofficial currency exchange.
\n\n\n\nOfficial operations in response to such covert activities could lead to the postponement of travel to Macau from mainland China, he suggested.
\n\n\n\nMacau-based gaming law expert and Macau Business columnist Ant\u00f3nio Lobo Vilela noted in an opinion article published in January that \u201cthese \u2018money changers\u2019 have devised an intricate and sophisticated scheme to move funds across different jurisdictions without crossing any borders,\u201d adding that the scheme \u201cis currently the primary unofficial channel for providing funds to gamblers in Macau.\u201d
\n\n\n\nVilela also stressed that \u201cthis is a complex topic because of the disadvantages that the absence of \u2018money changers\u2019 entails, especially for the \u2018six large integrated tourism and leisure companies\u2019 [gaming concessionaires].\u201d
\n", "content_text": "A crackdown by the Ministry of Public Security on money changers has recently ensnared more than 100 suspects.\n\n\n\nThis is according to the ministry, whose spokesman pledged greater attention to the illicit practice at a media briefing on Friday.\n\n\n\nThe number of members of ‘money exchange gangs’ involved in illegal foreign exchange activities in Macau has increased significantly, Chen Shiqu, deputy crime bureau chief of the ministry, said.\n\n\n\nAs a result, there has been a marked increase in the incidents of fraud, robbery, theft, kidnapping and illegal immigration arising from these operations, he added.\n\n\n\nThe authorities said these gangs were mostly controlled by “hidden financiers”, with the exchange of Hong Kong dollars and renminbi being conducted through underground banks in neighbouring Zhuhai.\n\n\n\nSuch underground operations are believed to have generated annual profits of more than HKD1.5 billion (US$190 million/MOP1.55 billion) .\n\n\n\nCiting recent law\nenforcement efforts, authorities said a suspect caught in Jilin was involved in\na scam involving RMB10 million.\n\n\n\nIn addition, in Jiangxi\nProvince, law enforcement officials successfully cracked down on a network\ninvolved in the illegal sale of immigration documents. \n\n\n\nThis operation resulted in 30 arrests, while more than 100 illegal immigrants to Macau were found to have been involved in such operations.\n\n\n\nEarlier this week, Seaport Research Partners analyst Vitaly Umansky warned of the negative impact of a nationwide crackdown on unofficial currency exchange.\n\n\n\nOfficial operations in response to such covert activities could lead to the postponement of travel to Macau from mainland China, he suggested.\n\n\n\nMacau-based gaming law expert and Macau Business columnist Ant\u00f3nio Lobo Vilela noted in an opinion article published in January that \u201cthese \u2018money changers\u2019 have devised an intricate and sophisticated scheme to move funds across different jurisdictions without crossing any borders,\u201d adding that the scheme \u201cis currently the primary unofficial channel for providing funds to gamblers in Macau.\u201d\n\n\n\nVilela also stressed that \u201cthis is a complex topic because of the disadvantages that the absence of \u2018money changers\u2019 entails, especially for the \u2018six large integrated tourism and leisure companies\u2019 [gaming concessionaires].\u201d", "date_published": "July 06, 2024", "date_modified": "July 07, 2024 - 10:40", "author": { "name": "Aries Un", "url": "https://www.macaubusiness.com/author/aries-un/", "avatar": "https://secure.gravatar.com/avatar/7ae1d1264b8afa0640eb6915aab8c425?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/IMG_7904.jpeg", "tags": [ "Gaming", "Macau", "MNA", "MNA Featured" ] }, { "id": "https://www.macaubusiness.com/macau-hotels-likely-to-see-over-90pct-occupancy-rate-this-summer-industry-rep-says/", "url": "https://www.macaubusiness.com/macau-hotels-likely-to-see-over-90pct-occupancy-rate-this-summer-industry-rep-says/", "title": "Macau hotels likely to see over 90pct occupancy rate this summer, industry rep says", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Weixin-Image_20240705151807-150x150.png\")
\nMacau\u2019s overall hotel occupancy rate for this year’s summer season is expected to exceed 90 per cent, local hotel industry insider said.
\n\n\n\nLou Chi Leong, director\nof the Macau Hoteliers & Innkeepers Association, told Chinese language news\noutlet Macau Daily that the sector held optimistic views on the forthcoming\nsummer, particularly from mid-July to the end of August when hotels are\nanticipated to welcome a significant influx of guests.
\n\n\n\nHe indicated that as\nhotel room supply in Macau had increased post-pandemic, a 90 per cent occupancy\nrate would signify that the hotel industry’s recovery had surpassed\npre-pandemic levels.
\n\n\n\nAccording to the latest\ndata from the Statistics and Census Service (DSEC), Macau boasted a total of\n143 hotel establishments as of May 2024, which represented a 13 per cent hike from\nthe previous year.
\n\n\n\nThe total of guest\nrooms grew by 9.3 per cent to 47,000, with the average occupancy rate up by 4.9\npercentage points year-on-year to 83.6 per cent.
\n\n\n\nRegarding hotel room\nrates, Mr. Lou stated that prices would remain rational during the summer,\nwithout significant surges.
\n\n\n\nAlso, he added that\nhotels would launch various promotions and discounts, with the aim of\nattracting guests during the summer holiday period.
\n\n\n\nFor the first five\nmonths of the year, the average occupancy rate for guest rooms increased by 7.7\npercentage points year-on-year to 84.3 per cent.
\n\n\n\nThe number of guests\nalso experienced substantial growth, rising by 25 per cent to 6,135,000. The\naverage length of stay remained unchanged at 1.7 nights.
\n", "content_text": "Macau\u2019s overall hotel occupancy rate for this year’s summer season is expected to exceed 90 per cent, local hotel industry insider said.\n\n\n\nLou Chi Leong, director\nof the Macau Hoteliers & Innkeepers Association, told Chinese language news\noutlet Macau Daily that the sector held optimistic views on the forthcoming\nsummer, particularly from mid-July to the end of August when hotels are\nanticipated to welcome a significant influx of guests.\n\n\n\nHe indicated that as\nhotel room supply in Macau had increased post-pandemic, a 90 per cent occupancy\nrate would signify that the hotel industry’s recovery had surpassed\npre-pandemic levels.\n\n\n\nAccording to the latest\ndata from the Statistics and Census Service (DSEC), Macau boasted a total of\n143 hotel establishments as of May 2024, which represented a 13 per cent hike from\nthe previous year.\n\n\n\nThe total of guest\nrooms grew by 9.3 per cent to 47,000, with the average occupancy rate up by 4.9\npercentage points year-on-year to 83.6 per cent.\n\n\n\nRegarding hotel room\nrates, Mr. Lou stated that prices would remain rational during the summer,\nwithout significant surges.\n\n\n\nAlso, he added that\nhotels would launch various promotions and discounts, with the aim of\nattracting guests during the summer holiday period.\n\n\n\nFor the first five\nmonths of the year, the average occupancy rate for guest rooms increased by 7.7\npercentage points year-on-year to 84.3 per cent.\n\n\n\nThe number of guests\nalso experienced substantial growth, rising by 25 per cent to 6,135,000. The\naverage length of stay remained unchanged at 1.7 nights.", "date_published": "July 05, 2024", "date_modified": "July 05, 2024 - 15:22", "author": { "name": "Therese Tu", "url": "https://www.macaubusiness.com/author/therese/", "avatar": "https://secure.gravatar.com/avatar/1d763f17b928c3298f1b719855931b70?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Weixin-Image_20240705151807.png", "tags": [ "Gaming", "Macau", "MNA", "MNA Featured" ], "summary": "Macau\u2019s overall hotel occupancy rate for this year's summer season is expected to exceed 90 per cent, local hotel industry insider said." }, { "id": "https://www.macaubusiness.com/removal-of-casino-freebies-shows-no-impact-on-tourist-inflow-mgto/", "url": "https://www.macaubusiness.com/removal-of-casino-freebies-shows-no-impact-on-tourist-inflow-mgto/", "title": "Removal of casino freebies shows no impact on tourist inflow: MGTO", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Weixin-Image_20240613194632-150x150.jpg\")
\nThe halting of the distribution of free snacks on gaming floors has not affected the influx of tourists, Deputy Director of the Macau Government Tourism Office (MGTO), Ricky Hoi, said on Thursday.
\n\n\n\nIn mid-June, Macau’s gaming regulator, the Gaming Inspection and Co-ordination Bureau(DICJ), reportedly ordered the six gaming concessionaires in the city to stop providing free snacks and drinks in their casinos.
\n\n\n\nThe government\u2019s decision is believed to have been a response to complaints from local business associations, who have argued that the provision of free snacks at casinos has adversely impacted the business of local SMEs and even led to a decline in tourist spending in local neighbourhoods.
\n\n\n\nRicky Hoi told media on Thursday that the change had not had an adverse effect on tourist numbers, citing the visitor arrival figures reported for last Saturday and Sunday which exceeded 120,000 and 110,000, respectively.
\n\n\n\nHe further indicated that more tourists were now exploring local communities and dining at restaurants in local neighbourhoods.
\n\n\n\nLast month, vice-director of the United Association of Food and Beverage Merchants of Macau, Fong Kin Fu, told Macau Daily that restaurants in the local community had seen an increase in patronage after casino resorts stopped offering free food.
\n\n\n\nHe said that offering free snacks and drinks at integrated resorts was a gesture of hospitality to tourists, however, the practice had inadvertently encouraged a culture of budget tourism in Macau.
\n", "content_text": "The halting of the distribution of free snacks on gaming floors has not affected the influx of tourists, Deputy Director of the Macau Government Tourism Office (MGTO), Ricky Hoi, said on Thursday.\n\n\n\nIn mid-June, Macau’s gaming regulator, the Gaming Inspection and Co-ordination Bureau(DICJ), reportedly ordered the six gaming concessionaires in the city to stop providing free snacks and drinks in their casinos.\n\n\n\nThe government\u2019s decision is believed to have been a response to complaints from local business associations, who have argued that the provision of free snacks at casinos has adversely impacted the business of local SMEs and even led to a decline in tourist spending in local neighbourhoods.\n\n\n\nRicky Hoi told media on Thursday that the change had not had an adverse effect on tourist numbers, citing the visitor arrival figures reported for last Saturday and Sunday which exceeded 120,000 and 110,000, respectively.\n\n\n\nHe further indicated that more tourists were now exploring local communities and dining at restaurants in local neighbourhoods.\n\n\n\nLast month, vice-director of the United Association of Food and Beverage Merchants of Macau, Fong Kin Fu, told Macau Daily that restaurants in the local community had seen an increase in patronage after casino resorts stopped offering free food.\n\n\n\nHe said that offering free snacks and drinks at integrated resorts was a gesture of hospitality to tourists, however, the practice had inadvertently encouraged a culture of budget tourism in Macau.", "date_published": "July 04, 2024", "date_modified": "July 04, 2024 - 19:15", "author": { "name": "Therese Tu", "url": "https://www.macaubusiness.com/author/therese/", "avatar": "https://secure.gravatar.com/avatar/1d763f17b928c3298f1b719855931b70?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Weixin-Image_20240613194632.jpg", "tags": [ "Gaming", "Macau", "MNA", "MNA Featured" ], "summary": "The halting of the distribution of free snacks on gaming floors has not affected the influx of tourists, Deputy Director of the Macau Government Tourism Office (MGTO), Ricky Hoi, said on Thursday." }, { "id": "https://www.macaubusiness.com/former-suncity-group-ceo-alvin-chaus-appeal-rejected/", "url": "https://www.macaubusiness.com/former-suncity-group-ceo-alvin-chaus-appeal-rejected/", "title": "Former Suncity Group CEO Alvin Chau\u2019s appeal rejected", "content_html": "![\"\"](\"https://mbusiness.sgp1.digitaloceanspaces.com/2020/07/Screen-Shot-2020-07-13-at-9.24.22-AM-150x150.png\")
\nMacau’s Court of Final Appeal has rejected an appeal by former Suncity Group CEO Alvin Chau, upholding his original 18-year jail term.
\n\n\n\nThe decision was announced on Wednesday, with eight other co-appellants having their appeals shot down.
\n\n\n\nAlvin Chau, Si Tou Chi Hou, Cheung Yat Ping Ellute, Ali Celestino, Cheong Chi Kin, Chau Chun Hee, Lou Seak Fong, Wong Pak Ling Philip and Leong Su Weng were originally sentenced by the Court of Second Instance to between 9 and 18 years’ imprisonment.
\n\n\n\nMeanwhile, the prosecution’s appeal for a harsher sentence has been rejected.
\n\n\n\nIn November last year, prosecutors sought to reinstate a fraud conviction against some of the defendants handed down by the city’s lowest court, which had been overturned by the intermediate court.
\n\n\n\nUnder the new ruling, the defendants are required to pay a total of HKD24.865 billion (MOP25.61 billion/ US$3.18 billion) to the Macao Special Administrative Region.
\n", "content_text": "Macau’s Court of Final Appeal has rejected an appeal by former Suncity Group CEO Alvin Chau, upholding his original 18-year jail term.\n\n\n\nThe decision was announced on Wednesday, with eight other co-appellants having their appeals shot down.\n\n\n\nAlvin Chau, Si Tou Chi Hou, Cheung Yat Ping Ellute, Ali Celestino, Cheong Chi Kin, Chau Chun Hee, Lou Seak Fong, Wong Pak Ling Philip and Leong Su Weng were originally sentenced by the Court of Second Instance to between 9 and 18 years’ imprisonment.\n\n\n\nMeanwhile, the prosecution’s appeal for a harsher sentence has been rejected. \n\n\n\nIn November last year, prosecutors sought to reinstate a fraud conviction against some of the defendants handed down by the city’s lowest court, which had been overturned by the intermediate court.\n\n\n\nUnder the new ruling, the defendants are required to pay a total of HKD24.865 billion (MOP25.61 billion/ US$3.18 billion) to the Macao Special Administrative Region.", "date_published": "July 03, 2024", "date_modified": "July 03, 2024 - 20:11", "author": { "name": "Aries Un", "url": "https://www.macaubusiness.com/author/aries-un/", "avatar": "https://secure.gravatar.com/avatar/7ae1d1264b8afa0640eb6915aab8c425?s=512&d=mm&r=g" }, "image": "https://mbusiness.sgp1.digitaloceanspaces.com/2020/07/Screen-Shot-2020-07-13-at-9.24.22-AM.png", "tags": [ "Gaming", "Macau", "MNA", "MNA Featured" ], "summary": "Macau's Court of Final Appeal has rejected an appeal by former Suncity Group CEO Alvin Chau, upholding his original 18-year jail term." }, { "id": "https://www.macaubusiness.com/macau-ggr-continues-to-recover-higher-tax-free-cap-to-bode-well-for-tenant-brokerage/", "url": "https://www.macaubusiness.com/macau-ggr-continues-to-recover-higher-tax-free-cap-to-bode-well-for-tenant-brokerage/", "title": "Macau GGR continues to recover, higher tax-free cap to bode well for tenant: brokerage", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Weixin-Image_20240703184938-150x150.jpg\")
\nBrokerage Goldman Sachs expects Macau\u2019s gross gaming revenue (GGR) to show a gradual recovery in coming months, as the summer peak season approaches with travel policy relaxations.
\n\n\n\nIn a Tuesday update, the analysts cited a series of policy relaxations that could contribute to the recovery, such as the addition of 10 new cities to the Individual Visit Scheme (IVS), multi-entry group tours for Macau-Hengqin, faster visa processing, and the raising of duty-free purchase cap.
\n\n\n\nThe Chinese government recently announced a lifting of the duty-free purchase cap for mainland China tourists to Macau and Hong Kong to RMB15,000, effective from 1 July.
\n\n\n\nGoldman Sachs believes that this policy change would encourage purchases of more high-value items in Macau, thereby supporting tenant sales at casino operators\u2019 malls during the summer season.
\n\n\n\nCommenting on Macau\u2019s June GGR of MOP17.7 billion (US$2.2 billion), the analysts attributed the decline to weaker seasonality and win-rate factors.
\n\n\n\n\u201cTo the extent that Macau stocks\u2019 sentiment has been negatively affected by the softer weekly GGR earlier in the month, the inline GGR data ended up reporting for the month of June may be taken positively by the market,\u201d the analysts wrote.
\n\n\n\nThe analysts reiterated Galaxy as their top pick in gaming stocks, highlighting the company’s various initiatives, such as beefing up its marketing team and hosting more concerts/events, which are expected to boost its market share to 20 per cent or above.
\n", "content_text": "Brokerage Goldman Sachs expects Macau\u2019s gross gaming revenue (GGR) to show a gradual recovery in coming months, as the summer peak season approaches with travel policy relaxations.\n\n\n\nIn a Tuesday update, the analysts cited a series of policy relaxations that could contribute to the recovery, such as the addition of 10 new cities to the Individual Visit Scheme (IVS), multi-entry group tours for Macau-Hengqin, faster visa processing, and the raising of duty-free purchase cap.\n\n\n\nThe Chinese government recently announced a lifting of the duty-free purchase cap for mainland China tourists to Macau and Hong Kong to RMB15,000, effective from 1 July. \n\n\n\nGoldman Sachs believes that this policy change would encourage purchases of more high-value items in Macau, thereby supporting tenant sales at casino operators\u2019 malls during the summer season.\n\n\n\nCommenting on Macau\u2019s June GGR of MOP17.7 billion (US$2.2 billion), the analysts attributed the decline to weaker seasonality and win-rate factors.\n\n\n\n\u201cTo the extent that Macau stocks\u2019 sentiment has been negatively affected by the softer weekly GGR earlier in the month, the inline GGR data ended up reporting for the month of June may be taken positively by the market,\u201d the analysts wrote.\n\n\n\nThe analysts reiterated Galaxy as their top pick in gaming stocks, highlighting the company’s various initiatives, such as beefing up its marketing team and hosting more concerts/events, which are expected to boost its market share to 20 per cent or above.", "date_published": "July 03, 2024", "date_modified": "July 03, 2024 - 18:59", "author": { "name": "Therese Tu", "url": "https://www.macaubusiness.com/author/therese/", "avatar": "https://secure.gravatar.com/avatar/1d763f17b928c3298f1b719855931b70?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Weixin-Image_20240703184938.jpg", "tags": [ "Gaming", "Macau", "MNA" ] }, { "id": "https://www.macaubusiness.com/gaming-table-supervisors-seek-relief-as-smart-tables-fail-to-ease-workload-lawmaker/", "url": "https://www.macaubusiness.com/gaming-table-supervisors-seek-relief-as-smart-tables-fail-to-ease-workload-lawmaker/", "title": "Gaming table supervisors seek relief as smart tables fail to ease workload: Lawmaker", "content_html": "![\"\"](\"https://mbusiness.sgp1.digitaloceanspaces.com/2019/07/TOPOJogo_croupier_casino_grand_Lisboa_rgb-150x150.jpg\")
\nNearly 1,000 gaming table supervisors have expressed dissatisfaction with a mounting workload that is not being addressed with the help of smart tables, according to lawmaker Jos\u00e9 Pereira Coutinho.
\n\n\n\nThe lawmaker said in a recently written inquiry that he had asked the government to intervene after the complainants approached him for help.
\n\n\n\nEach supervisor was required to manage six mass market tables during peak hours, with some of the smart tables experiencing malfunctions that required additional attention from staff.
\n\n\n\nSome of these casino workers also complained that they had been given a warning letter for failing to work efficiently in what they described as a “highly stressful” environment.
\n\n\n\n“Since the outbreak of the Covid-19 pandemic, the gaming companies have avoided layoffs but have transferred a large number of gaming table supervisors to other roles,” the lawmaker wrote, quoting words from the complaints.
\n\n\n\n“However, two years after the pandemic, the vacancies left by those who left have not been filled,” the lawmaker added.
\n\n\n\nThe situation has been exacerbated by natural wastage, which has increased the workload.
\n\n\n\nSmart-tables act up
\n\n\n\nGaming companies have replaced some of their traditional gaming tables with tech-enabled ones, which Citigroup’s analysis suggests account for at least 10 per cent of the city’s total.
\n\n\n\nAccording to the complainants, some of the equipment adopted was installed with a faulty system, which they said caused problems in “almost every game”.
\n\n\n\nThey claimed that the task of checking the systems had now fallen to them from the managers, adding to their already heavy workload.
\n\n\n\nHealth problems resulting from the increased workload were also cited as reasons for demanding better treatment in the workplace.
\n", "content_text": "Nearly 1,000 gaming table supervisors have expressed dissatisfaction with a mounting workload that is not being addressed with the help of smart tables, according to lawmaker Jos\u00e9 Pereira Coutinho. \n\n\n\nThe lawmaker said in a recently written inquiry that he had asked the government to intervene after the complainants approached him for help. \n\n\n\nEach supervisor was required to manage six mass market tables during peak hours, with some of the smart tables experiencing malfunctions that required additional attention from staff. \n\n\n\nSome of these casino workers also complained that they had been given a warning letter for failing to work efficiently in what they described as a “highly stressful” environment. \n\n\n\n“Since the outbreak of the Covid-19 pandemic, the gaming companies have avoided layoffs but have transferred a large number of gaming table supervisors to other roles,” the lawmaker wrote, quoting words from the complaints.\n\n\n\n“However, two years after the pandemic, the vacancies left by those who left have not been filled,” the lawmaker added.\n\n\n\nThe situation has been exacerbated by natural wastage, which has increased the workload.\n\n\n\nSmart-tables act up\n\n\n\nGaming companies have replaced some of their traditional gaming tables with tech-enabled ones, which Citigroup’s analysis suggests account for at least 10 per cent of the city’s total. \n\n\n\nAccording to the complainants, some of the equipment adopted was installed with a faulty system, which they said caused problems in “almost every game”. \n\n\n\nThey claimed that the task of checking the systems had now fallen to them from the managers, adding to their already heavy workload. \n\n\n\nHealth problems resulting from the increased workload were also cited as reasons for demanding better treatment in the workplace.", "date_published": "July 03, 2024", "date_modified": "July 03, 2024 - 17:43", "author": { "name": "Aries Un", "url": "https://www.macaubusiness.com/author/aries-un/", "avatar": "https://secure.gravatar.com/avatar/7ae1d1264b8afa0640eb6915aab8c425?s=512&d=mm&r=g" }, "image": "https://mbusiness.sgp1.digitaloceanspaces.com/2019/07/TOPOJogo_croupier_casino_grand_Lisboa_rgb.jpg", "tags": [ "Gaming", "Macau", "MNA" ], "summary": "Nearly 1,000 gaming table supervisors have expressed dissatisfaction with a mounting workload that is not being addressed with the help of smart tables, according to lawmaker Jos\u00e9 Pereira Coutinho. " }, { "id": "https://www.macaubusiness.com/gaming-sector-2q-ebitda-likely-to-reach-mop15-85-bln-july-ggr-estimated-at-mop19-bln-brokerages/", "url": "https://www.macaubusiness.com/gaming-sector-2q-ebitda-likely-to-reach-mop15-85-bln-july-ggr-estimated-at-mop19-bln-brokerages/", "title": "Gaming sector 2Q EBITDA likely to reach MOP15.85 bln, July GGR estimated at MOP19 bln: brokerages", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Weixin-Image_20240703151325-150x150.jpg\")
\nMacau\u2019s gaming industry property EBITDA for the second quarter of 2024 is expected to decline by 4 per cent quarter-on-quarter to US$1.97 billion (MOP15.85 billion), brokerage firm Morgan Stanley said.
\n\n\n\nIn a recent report published following the release of June\u2019s gross gaming revenue (GGR) results, analysts Praveen K Choudhary and Gareth Leung drew this estimate as they anticipated a 3-4 per cent quarter-on-quarter increase in operating expenses for gaming operators, though reinvestment costs could be flattening.
\n\n\n\nMacau has recorded its lowest level of GGR this year, with MOP17.69 billion made in June, representing a month-on-month decrease of 12 per cent and a recovery to 74 per cent of the 2019 level.
\n\n\n\nThe figure is largely in line with the sell-side consensus of MOP17.9 billion, but should be higher than buy-side consensus.
\n\n\n\n\u201cWe think June GGR number is positive amidst several concerns for the sector: (1) no free snacks for non-gamblers, (2) fewer referral programs, and (3) weaker retail sales and China macros,\u201d the analysts wrote.
\n\n\n\nMorgan Stanley also indicated that Macau’s GGR for the second quarter would be 2 per cent lower quarter-on-quarter, amounting to US$7.1 billion, marking a recovery to 77 per cent of pre-pandemic level.
\n\n\n\nAccording to a report by another brokerage firm Citibank, Macau’s daily run-rate is expected to rebound from the seasonal trough around mid-July.
\n\n\n\nJuly\u2019s GGR is projected to reach MOP19 billion, translating into a daily GGR of MOP613 million and a recovery to 78 per cent of 2019 level.
\n\n\n\nThe analysts at Citibank maintain their full-year GGR growth forecast of 26 per cent year-on-year.
\n", "content_text": "Macau\u2019s gaming industry property EBITDA for the second quarter of 2024 is expected to decline by 4 per cent quarter-on-quarter to US$1.97 billion (MOP15.85 billion), brokerage firm Morgan Stanley said.\n\n\n\nIn a recent report published following the release of June\u2019s gross gaming revenue (GGR) results, analysts Praveen K Choudhary and Gareth Leung drew this estimate as they anticipated a 3-4 per cent quarter-on-quarter increase in operating expenses for gaming operators, though reinvestment costs could be flattening.\n\n\n\nMacau has recorded its lowest level of GGR this year, with MOP17.69 billion made in June, representing a month-on-month decrease of 12 per cent and a recovery to 74 per cent of the 2019 level.\n\n\n\nThe figure is largely in line with the sell-side consensus of MOP17.9 billion, but should be higher than buy-side consensus.\n\n\n\n\u201cWe think June GGR number is positive amidst several concerns for the sector: (1) no free snacks for non-gamblers, (2) fewer referral programs, and (3) weaker retail sales and China macros,\u201d the analysts wrote.\n\n\n\nMorgan Stanley also indicated that Macau’s GGR for the second quarter would be 2 per cent lower quarter-on-quarter, amounting to US$7.1 billion, marking a recovery to 77 per cent of pre-pandemic level.\n\n\n\nAccording to a report by another brokerage firm Citibank, Macau’s daily run-rate is expected to rebound from the seasonal trough around mid-July.\n\n\n\nJuly\u2019s GGR is projected to reach MOP19 billion, translating into a daily GGR of MOP613 million and a recovery to 78 per cent of 2019 level.\n\n\n\nThe analysts at Citibank maintain their full-year GGR growth forecast of 26 per cent year-on-year.", "date_published": "July 03, 2024", "date_modified": "July 03, 2024 - 15:32", "author": { "name": "Therese Tu", "url": "https://www.macaubusiness.com/author/therese/", "avatar": "https://secure.gravatar.com/avatar/1d763f17b928c3298f1b719855931b70?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Weixin-Image_20240703151325.jpg", "tags": [ "Gaming", "Macau", "MNA", "MNA Featured" ], "summary": "Macau\u2019s gaming industry property EBITDA for the second quarter of 2024 is expected to decline by 4 per cent quarter-on-quarter to US$1.97 billion (MOP15.85 billion), brokerage firm Morgan Stanley said." }, { "id": "https://www.macaubusiness.com/macau-braces-for-short-term-impact-from-clampdown-on-money-changers-analyst/", "url": "https://www.macaubusiness.com/macau-braces-for-short-term-impact-from-clampdown-on-money-changers-analyst/", "title": "Macau braces for short-term impact from clampdown on money changers: Analyst", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2023/07/casino-lisboa-gaming-tourism-150x150.png\")
\nMoney flows to Macau are expected to be affected by a crackdown on money changers and their networks that began in June, Seaport Research Partners analyst Vitaly Umansky has warned.
\n\n\n\nIn a Monday note on June’s gross gaming revenue, Umansky said the crackdown on such activity could lead to the postponement of trips to Macau.
\n\n\n\n\u201cMany of these networks utilize crypto currency for money transfer (something that has gained wider attention by authorities in China) along with loan sharking activities,\u201d the analyst wrote.
\n\n\n\n\u201cMacau has experienced a rise of criminal activity related to illegal money exchange over the past year. This problem has been raised to a national level in conjunction with China authorities looking at continued use of crypto currency to move money out of China (not necessarily tied to Macau).\u201d
\n\n\n\nUmansky believes that headwinds from the crackdown could last \u201cover the next month or two\u201d.
\n\n\n\nHowever, he added, \u201cHowever, we expect the crackdown to soften and liquidity in Macau to be not significantly impacted in the medium term.\u201d
\n\n\n\nJuly gross gaming revenue
\n\n\n\nAccording to his analysis, June casino revenue came in slightly below expectations – due to a slowdown in the middle and latter part of the month.
\n\n\n\nLooking ahead, however, the analyst has painted a more positive picture for the summer, with gross gaming revenue expected to bounce back to MOP19.22 billion, an increase of 9 per cent on June.
\n\n\n\n\u201cJuly is typically a solid month with base mass visitors increasing later in the month and more so in August,\u201d he said
\n\n\n\n\u201cWith the softness in base mass, the continuation of the Euro Cup and the crackdown on money movement activity, we are more conservative on July than normal.\u201d
\n", "content_text": "Money flows to Macau are expected to be affected by a crackdown on money changers and their networks that began in June, Seaport Research Partners analyst Vitaly Umansky has warned. \n\n\n\nIn a Monday note on June’s gross gaming revenue, Umansky said the crackdown on such activity could lead to the postponement of trips to Macau.\n\n\n\n\u201cMany of these networks utilize crypto currency for money transfer (something that has gained wider attention by authorities in China) along with loan sharking activities,\u201d the analyst wrote.\n\n\n\n\u201cMacau has experienced a rise of criminal activity related to illegal money exchange over the past year. This problem has been raised to a national level in conjunction with China authorities looking at continued use of crypto currency to move money out of China (not necessarily tied to Macau).\u201d\n\n\n\nUmansky believes that headwinds from the crackdown could last \u201cover the next month or two\u201d. \n\n\n\nHowever, he added, \u201cHowever, we expect the crackdown to soften and liquidity in Macau to be not significantly impacted in the medium term.\u201d\n\n\n\nJuly gross gaming revenue\n\n\n\nAccording to his analysis, June casino revenue came in slightly below expectations – due to a slowdown in the middle and latter part of the month.\n\n\n\nLooking ahead, however, the analyst has painted a more positive picture for the summer, with gross gaming revenue expected to bounce back to MOP19.22 billion, an increase of 9 per cent on June. \n\n\n\n\u201cJuly is typically a solid month with base mass visitors increasing later in the month and more so in August,\u201d he said \n\n\n\n\u201cWith the softness in base mass, the continuation of the Euro Cup and the crackdown on money movement activity, we are more conservative on July than normal.\u201d", "date_published": "July 02, 2024", "date_modified": "July 02, 2024 - 15:36", "author": { "name": "Aries Un", "url": "https://www.macaubusiness.com/author/aries-un/", "avatar": "https://secure.gravatar.com/avatar/7ae1d1264b8afa0640eb6915aab8c425?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2023/07/casino-lisboa-gaming-tourism.png", "tags": [ "Gaming", "Macau", "MNA", "MNA Featured" ], "summary": "Money flows to Macau are expected to be affected by a crackdown on money changers and their networks that began in June, Seaport Research Partners analyst Vitaly Umansky has warned. " }, { "id": "https://www.macaubusiness.com/new-bill-against-illicit-gambling-excludes-private-games/", "url": "https://www.macaubusiness.com/new-bill-against-illicit-gambling-excludes-private-games/", "title": "New bill against illicit gambling excludes private games", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Weixin-Image_20240701191618-150x150.jpg\")
\nMacau’s new legislation against illegal gambling will only target activities that take place in public places.
\n\n\n\nThe latest development follows a discussion between a Legislative Assembly committee and government officials on Monday.
\n\n\n\nUnder the legislation, which will allow searches of residences, only gambling activities that involve money will be considered illegal, with offences punishable by a fine of between MOP1,500 and MOP5,000.
\n\n\n\nHowever, those that take place privately, such as home-based mahjong games, do not constitute an offence.
\n\n\n\nOther examples include non-profit mahjong games held in a clubhouse and chess games in the park.
\n\n\n\nChan Chak Mo, who heads the committee, stressed that this is because these leisure activities do not involve money, explaining that “setting up an unfinished Chinese chess game in a public park and charging MOP5 per game could potentially be a violation of the law”.
\n\n\n\nThe bill is expected to be submitted to the Legislative Assembly for a final reading by 15 August, the end of the current legislative session.
\n\n\n\nIs it possible to criminalise unofficial currency exchange?
\n\n\n\nGovernment officials seemed more inclined to use administrative means during Monday’s meeting, the lawmaker said.
\n\n\n\nIn 2023, more than 2,000 people involved in money exchange will be banned from entering casinos.
\n\n\n\nCriminalising the business is a “complex” and “time-consuming” process involving investigation, evidence gathering and trial, Chan said, quoting government representatives.
\n\n\n\n“The government believes that the use of administrative measures, such as reporting to mainland authorities to prohibit ‘money exchange gangs’ from leaving the country or banning them from entering Macau, has been effective in combating them,” the lawmaker said.
\n", "content_text": "Macau’s new legislation against illegal gambling will only target activities that take place in public places.\n\n\n\nThe latest development follows a discussion between a Legislative Assembly committee and government officials on Monday. \n\n\n\nUnder the legislation, which will allow searches of residences, only gambling activities that involve money will be considered illegal, with offences punishable by a fine of between MOP1,500 and MOP5,000.\n\n\n\nHowever, those that take place privately, such as home-based mahjong games, do not constitute an offence.\n\n\n\nOther examples include non-profit mahjong games held in a clubhouse and chess games in the park. \n\n\n\nChan Chak Mo, who heads the committee, stressed that this is because these leisure activities do not involve money, explaining that “setting up an unfinished Chinese chess game in a public park and charging MOP5 per game could potentially be a violation of the law”. \n\n\n\nThe bill is expected to be submitted to the Legislative Assembly for a final reading by 15 August, the end of the current legislative session.\n\n\n\nIs it possible to criminalise unofficial currency exchange?\n\n\n\nGovernment officials seemed more inclined to use administrative means during Monday’s meeting, the lawmaker said.\n\n\n\nIn 2023, more than 2,000 people involved in money exchange will be banned from entering casinos. \n\n\n\nCriminalising the business is a “complex” and “time-consuming” process involving investigation, evidence gathering and trial, Chan said, quoting government representatives. \n\n\n\n“The government believes that the use of administrative measures, such as reporting to mainland authorities to prohibit ‘money exchange gangs’ from leaving the country or banning them from entering Macau, has been effective in combating them,” the lawmaker said.", "date_published": "July 01, 2024", "date_modified": "July 01, 2024 - 19:20", "author": { "name": "Aries Un", "url": "https://www.macaubusiness.com/author/aries-un/", "avatar": "https://secure.gravatar.com/avatar/7ae1d1264b8afa0640eb6915aab8c425?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/Weixin-Image_20240701191618.jpg", "tags": [ "Gaming", "Macau", "MNA", "MNA Featured" ], "summary": "Macau's new legislation against illegal gambling will only target activities that take place in public places." }, { "id": "https://www.macaubusiness.com/cross-border-gambling-ring-busted-93-nabbed-mop1-bln-involved/", "url": "https://www.macaubusiness.com/cross-border-gambling-ring-busted-93-nabbed-mop1-bln-involved/", "title": "Cross-border gambling ring busted: 93 nabbed, MOP1 bln involved", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/pXakKvRlwNmfUvRCoMk9-150x150.jpeg\")
\nA joint operation by Macau, Hong Kong and mainland Chinese authorities has dismantled an illegal gambling syndicate, with 93 people arrested, including 11 key figures behind the racket.
\n\n\n\nAccording to the Judiciary Police, the operation resulted in the seizure of more than MOP8 million (US$1 million) in cash.
\n\n\n\nMore than half of those arrested were detained in Macau, with four of them allegedly running an illegal gambling den in northern Macau.
\n\n\n\nThe ring is believed to have been active since 2016, with no less than MOP1 billion involved.
\n\n\n\nThe two masterminds are locals, both aged 33, and the nine core members range from 29 to 47 in age.
\n\n\n\nAccording to the authorities, one of them works for the government as a customs officer and is now facing disciplinary action.
\n\n\n\nThe syndicate was discovered during a money laundering case in 2022. Four members were found to be involved in illicit gambling.
\n\n\n\nPolice investigators found that the group had used overseas servers for the online betting site they had set up, taking bets on football and basketball games.
\n\n\n\nHigher odds were touted to attract punters with the help of agents working around the clock, the authorities said.
\n\n\n\nThe arrests were made at a number of flats on the peninsula, Cotai and in Coloane.
\n\n\n\nMeanwhile, 42 mainland Chinese were arrested in Guangdong with illegal bets worth around RMB80 million.
\n", "content_text": "A joint operation by Macau, Hong Kong and mainland Chinese authorities has dismantled an illegal gambling syndicate, with 93 people arrested, including 11 key figures behind the racket. \n\n\n\nAccording to the Judiciary Police, the operation resulted in the seizure of more than MOP8 million (US$1 million) in cash.\n\n\n\nMore than half of those arrested were detained in Macau, with four of them allegedly running an illegal gambling den in northern Macau. \n\n\n\nThe ring is believed to have been active since 2016, with no less than MOP1 billion involved.\n\n\n\nThe two masterminds are locals, both aged 33, and the nine core members range from 29 to 47 in age. \n\n\n\nAccording to the authorities, one of them works for the government as a customs officer and is now facing disciplinary action. \n\n\n\nThe syndicate was discovered during a money laundering case in 2022. Four members were found to be involved in illicit gambling.\n\n\n\nPolice investigators found that the group had used overseas servers for the online betting site they had set up, taking bets on football and basketball games.\n\n\n\nHigher odds were touted to attract punters with the help of agents working around the clock, the authorities said.\n\n\n\nThe arrests were made at a number of flats on the peninsula, Cotai and in Coloane. \n\n\n\nMeanwhile, 42 mainland Chinese were arrested in Guangdong with illegal bets worth around RMB80 million.", "date_published": "July 01, 2024", "date_modified": "July 01, 2024 - 17:34", "author": { "name": "Aries Un", "url": "https://www.macaubusiness.com/author/aries-un/", "avatar": "https://secure.gravatar.com/avatar/7ae1d1264b8afa0640eb6915aab8c425?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/07/pXakKvRlwNmfUvRCoMk9.jpeg", "tags": [ "Gaming", "Greater Bay", "Macau", "MNA", "MNA Featured" ] }, { "id": "https://www.macaubusiness.com/june-ggr-at-lowest-level-since-year-start-up-16-pct-y-o-y/", "url": "https://www.macaubusiness.com/june-ggr-at-lowest-level-since-year-start-up-16-pct-y-o-y/", "title": "June GGR at lowest level since year-start, up 16 pct y-o-y", "content_html": "\nMacau has recorded its lowest level of gross gaming revenue this year, with MOP17.69 billion (US$2.21 billion) made in June.
\n\n\n\nDespite an expected drop in GGR, the figure is still up 16.4 percent compared to June last year, the city\u2019s gaming watchdog, the Gaming Inspection and Coordination Bureau, indicated.
\n\n\n\nAs much as MOP113.75 billion has been generated in the first half of the year, 41.9 percent more than in the January to June period of 2023. This year’s first-semester tally accounts for 52.3 percent of the annual target set by the Macau government.
\n\n\n\nJ.P. Morgan analysts said previously that they had recorded the lowest run-rate in at least six months due to a number of factors such as a post-holiday slowdown, the ongoing UEFA European Football Championship, and the seasonal trend.
\n", "content_text": "Macau has recorded its lowest level of gross gaming revenue this year, with MOP17.69 billion (US$2.21 billion) made in June.\n\n\n\nDespite an expected drop in GGR, the figure is still up 16.4 percent compared to June last year, the city\u2019s gaming watchdog, the Gaming Inspection and Coordination Bureau, indicated.\n\n\n\nAs much as MOP113.75 billion has been generated in the first half of the year, 41.9 percent more than in the January to June period of 2023. This year’s first-semester tally accounts for 52.3 percent of the annual target set by the Macau government.\n\n\n\nJ.P. Morgan analysts said previously that they had recorded the lowest run-rate in at least six months due to a number of factors such as a post-holiday slowdown, the ongoing UEFA European Football Championship, and the seasonal trend.", "date_published": "July 01, 2024", "date_modified": "July 01, 2024 - 13:30", "author": { "name": "Aries Un", "url": "https://www.macaubusiness.com/author/aries-un/", "avatar": "https://secure.gravatar.com/avatar/7ae1d1264b8afa0640eb6915aab8c425?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/01/5_imagem.jpg", "tags": [ "Gaming", "Macau", "MNA", "MNA Featured" ], "summary": "Macau has recorded the lowest level of gross gaming revenue this year, with only MOP17.69 billion (US$2.21 billion) made in June." }, { "id": "https://www.macaubusiness.com/multiple-challenges-in-the-way-of-gaming-recovery-expert/", "url": "https://www.macaubusiness.com/multiple-challenges-in-the-way-of-gaming-recovery-expert/", "title": "Multiple challenges in the way of gaming recovery: Expert", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/06/IMG_2914-1-150x150.jpeg\")
\nMacau will struggle to return to its pre-Covid pandemic glory as it faces myriad challenges, a gaming scholar has noted.
\n\n\n\nIn his latest report on\nthe Macau gaming industry’s approach to a new normal, Wang Changbin, who heads\nthe Centre for Gaming and Gourism Studies at Macau Polytechnic University, says\nthat Macau is recovering at a relatively slower pace than other gaming\njurisdictions such as Las Vegas and those in Southeast Asia.
\n\n\n\nMajor gaming destinations
\n\n\n\nLas Vegas managed to\nmaintain gaming revenue of around US$6.5 billion (MOP52.31 billion) between\n2017 and 2019, with this figure being dragged down by Covid-19 to less than\nUS$4 billion in 2020.
\n\n\n\nHowever, the following\nyear saw a strong rebound in casino revenue, which rose to over US$7 billion.
\n\n\n\nNew records were set in\n2022 and 2023, when gaming revenue reached US$8.3 billion and US$8.9 billion\nrespectively.
\n\n\n\nMeanwhile, in\nSingapore, gaming revenue fluctuated between US$4.2 billion and US$4.8 billion\nbetween 2015 and 2019. Despite dropping to US$2 billion during Covid, the\nfigure is set to reach nearly US$4 billion by 2023.
\n\n\n\nThe researcher expects\nthe Southeast Asian nation to continue its positive trajectory and return to\npre-Covid levels this year.
\n\n\n\nAnother gaming\ndestination, the Philippines, was sent into a downward spiral from a high of\nUS$4.5 billion in 2019 to US$2.8 billion amid the Covid onslaught. However, it\nmanaged to make a triumphant return, surpassing last year’s 2019 level of\nUS$5.1 billion.
\n\n\n\nWhere does Macau stand?
\n\n\n\nBetween 2020 and 2022,\nMacau generated a total of MOP191.4 billion, or US$23.78 billion, a level the\nresearcher said was on par with 2010.
\n\n\n\nIn 2023, Macau\nexperienced a post-Covid recovery, with annual casino revenue totalling MOP183\nbillion.
\n\n\n\n“Macau seems to be\ndoing well in the post-Covid era, but it faces some difficulties on its way\nback to the post-Covid peak,” Wang wrote.
\n\n\n\n“This is mainly\ndue to the fact that the factors that drove the rapid growth of Macau’s gaming\nsector are disappearing.”
\n\n\n\nWhat are the concerns?
\n\n\n\nA possible lack of\nwillingness to travel in an increasingly complicated international atmosphere,\nriddled with natural disasters and wars.
\n\n\n\nThe country’s\nincreasingly negative attitude towards gambling is also to blame, especially at\na time when casinos are said to be springing up along the country’s borders to\n“poach” Chinese gamblers.
\n\n\n\nThirdly, existing\ncasinos will be less attractive if there is no new supply of gambling houses.
\n\n\n\nFinally, the central\ngovernment is cracking down on efforts to promote gambling to high-rollers in\nmainland China.
\n\n\n\n“Although gaming\njunkets are proactively cultivating customer sources elsewhere, it will take\ntime to pay off,” he stressed.
\n\n\n\n“As some Southeast\nAsian countries are actively developing gaming, there is likely to be\ncompetition for customers from these countries.”
\n\n\n\nIs sports-specific gaming viable?
\n\n\n\nWang concludes by\nsuggesting that gaming should be linked to sports development in order to\naddress the challenges facing the gaming sector.
\n\n\n\nHe points out that\nsports gaming in Macau has yet to reach full development.
\n\n\n\n“The introduction\nof sports betting in casinos has the potential to attract sports fans from all\nover the world,” he pointed out.
\n", "content_text": "Macau will struggle to return to its pre-Covid pandemic glory as it faces myriad challenges, a gaming scholar has noted.\n\n\n\nIn his latest report on\nthe Macau gaming industry’s approach to a new normal, Wang Changbin, who heads\nthe Centre for Gaming and Gourism Studies at Macau Polytechnic University, says\nthat Macau is recovering at a relatively slower pace than other gaming\njurisdictions such as Las Vegas and those in Southeast Asia. \n\n\n\nMajor gaming destinations\n\n\n\nLas Vegas managed to\nmaintain gaming revenue of around US$6.5 billion (MOP52.31 billion) between\n2017 and 2019, with this figure being dragged down by Covid-19 to less than\nUS$4 billion in 2020. \n\n\n\nHowever, the following\nyear saw a strong rebound in casino revenue, which rose to over US$7 billion.\n\n\n\nNew records were set in\n2022 and 2023, when gaming revenue reached US$8.3 billion and US$8.9 billion\nrespectively.\n\n\n\nMeanwhile, in\nSingapore, gaming revenue fluctuated between US$4.2 billion and US$4.8 billion\nbetween 2015 and 2019. Despite dropping to US$2 billion during Covid, the\nfigure is set to reach nearly US$4 billion by 2023.\n\n\n\nThe researcher expects\nthe Southeast Asian nation to continue its positive trajectory and return to\npre-Covid levels this year.\n\n\n\nAnother gaming\ndestination, the Philippines, was sent into a downward spiral from a high of\nUS$4.5 billion in 2019 to US$2.8 billion amid the Covid onslaught. However, it\nmanaged to make a triumphant return, surpassing last year’s 2019 level of\nUS$5.1 billion.\n\n\n\nWhere does Macau stand?\n\n\n\nBetween 2020 and 2022,\nMacau generated a total of MOP191.4 billion, or US$23.78 billion, a level the\nresearcher said was on par with 2010. \n\n\n\nIn 2023, Macau\nexperienced a post-Covid recovery, with annual casino revenue totalling MOP183\nbillion. \n\n\n\n“Macau seems to be\ndoing well in the post-Covid era, but it faces some difficulties on its way\nback to the post-Covid peak,” Wang wrote. \n\n\n\n“This is mainly\ndue to the fact that the factors that drove the rapid growth of Macau’s gaming\nsector are disappearing.” \n\n\n\nWhat are the concerns?\n\n\n\nA possible lack of\nwillingness to travel in an increasingly complicated international atmosphere,\nriddled with natural disasters and wars. \n\n\n\nThe country’s\nincreasingly negative attitude towards gambling is also to blame, especially at\na time when casinos are said to be springing up along the country’s borders to\n“poach” Chinese gamblers. \n\n\n\nThirdly, existing\ncasinos will be less attractive if there is no new supply of gambling houses. \n\n\n\nFinally, the central\ngovernment is cracking down on efforts to promote gambling to high-rollers in\nmainland China. \n\n\n\n“Although gaming\njunkets are proactively cultivating customer sources elsewhere, it will take\ntime to pay off,” he stressed.\n\n\n\n“As some Southeast\nAsian countries are actively developing gaming, there is likely to be\ncompetition for customers from these countries.”\n\n\n\nIs sports-specific gaming viable?\n\n\n\nWang concludes by\nsuggesting that gaming should be linked to sports development in order to\naddress the challenges facing the gaming sector.\n\n\n\nHe points out that\nsports gaming in Macau has yet to reach full development.\n\n\n\n“The introduction\nof sports betting in casinos has the potential to attract sports fans from all\nover the world,” he pointed out.", "date_published": "June 27, 2024", "date_modified": "June 27, 2024 - 20:32", "author": { "name": "Aries Un", "url": "https://www.macaubusiness.com/author/aries-un/", "avatar": "https://secure.gravatar.com/avatar/7ae1d1264b8afa0640eb6915aab8c425?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/06/IMG_2914-1.jpeg", "tags": [ "Gaming", "Macau", "MNA", "MNA Featured" ], "summary": "Macau will struggle to return to its pre-Covid pandemic glory as it faces myriad challenges, a gaming scholar has noted." }, { "id": "https://www.macaubusiness.com/govt-considers-nighttime-residence-search-for-serious-crime-probes/", "url": "https://www.macaubusiness.com/govt-considers-nighttime-residence-search-for-serious-crime-probes/", "title": "Gov\u2019t considers nighttime residence search for serious crime probes", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/06/IMG_0071-150x150.jpeg\")
\nThe Macau government is considering enabling searches of residences between 9 pm and 7 am for investigations related to crimes against national security.
\n\n\n\nChan Chak Mo, the head of the Legislative Assembly’s Second Standing Committee, revealed this information after a review of a bill designed to combat illegal gambling on Wednesday.
\n\n\n\nThe new legislation proposes enabling searches of residences between 9 pm and 7 am and preventing detainees from communicating with individuals other than their lawyer before the judicial interrogation.
\n\n\n\nConcerns were raised by the Legislative Assembly on whether this proposed provision, currently limited to illicit gambling, will be introduced for investigations for other \u2018covertly conducted crimes\u2019, such as money laundering, terrorism, organised crime, and offences against national security.
\n\n\n\nIn response, the government said that they were ‘open to the possibility’ of introducing the nighttime search provision for other serious crimes in the future.
\n\n\n\nThis could be achieved through amending the existing Criminal Procedure Code or introducing similar provisions for such crimes.
\n\n\n\nRegarding the fines for illegal mahjong operations, the lawmakers asked the government representatives to explain whether such operations in restaurants and socialising clubs would be considered illegal.
\n\n\n\nThe government representatives clarified that the provisions would only target unauthorised ‘mahjong gambling operations for profit’, and establishments that solely provide venues for recreational mahjong playing without the intention of making profits would not face fines.
\n", "content_text": "The Macau government is considering enabling searches of residences between 9 pm and 7 am for investigations related to crimes against national security.\n\n\n\nChan Chak Mo, the head of the Legislative Assembly’s Second Standing Committee, revealed this information after a review of a bill designed to combat illegal gambling on Wednesday.\n\n\n\nThe new legislation proposes enabling searches of residences between 9 pm and 7 am and preventing detainees from communicating with individuals other than their lawyer before the judicial interrogation.\n\n\n\nConcerns were raised by the Legislative Assembly on whether this proposed provision, currently limited to illicit gambling, will be introduced for investigations for other \u2018covertly conducted crimes\u2019, such as money laundering, terrorism, organised crime, and offences against national security.\n\n\n\nIn response, the government said that they were ‘open to the possibility’ of introducing the nighttime search provision for other serious crimes in the future. \n\n\n\nThis could be achieved through amending the existing Criminal Procedure Code or introducing similar provisions for such crimes.\n\n\n\nRegarding the fines for illegal mahjong operations, the lawmakers asked the government representatives to explain whether such operations in restaurants and socialising clubs would be considered illegal.\n\n\n\nThe government representatives clarified that the provisions would only target unauthorised ‘mahjong gambling operations for profit’, and establishments that solely provide venues for recreational mahjong playing without the intention of making profits would not face fines.", "date_published": "June 27, 2024", "date_modified": "June 27, 2024 - 15:15", "author": { "name": "Therese Tu", "url": "https://www.macaubusiness.com/author/therese/", "avatar": "https://secure.gravatar.com/avatar/1d763f17b928c3298f1b719855931b70?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/06/IMG_0071.jpeg", "tags": [ "Gaming", "Macau", "MNA", "MNA Featured" ], "summary": "The Macau government is considering enabling searches of residences between 9 pm and 7 am for investigations related to crimes against national security." }, { "id": "https://www.macaubusiness.com/stdm-secures-govt-contract-to-run-ferry-terminal-again/", "url": "https://www.macaubusiness.com/stdm-secures-govt-contract-to-run-ferry-terminal-again/", "title": "STDM secures gov\u2019t contract to run ferry terminal again", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/06/p23alyl8eb-150x150.jpeg\")
\nMacau authorities have\nagain granted STDM a 60-month concession to operate the Outer Harbour Ferry\nTerminal on the peninsula, as per an official gazette announcement.
\n\n\n\nAs part of the deal,\nSTDM is obligated to contribute 18 per cent of its pre-tax profits as a return\nto the government.
\n\n\n\nThis decision follows a\nlongstanding practice of entrusting the Outer Harbour Ferry Terminal’s\noperations to STDM.
\n\n\n\nUnlike new terms and\nconditions, STDM’s payment to the government will now be based on 18 per cent\nof its annual pre-tax profits, offering more flexibility in the return\nmechanism.
\n\n\n\nThe previous agreement,\nwhich commenced in November 2018 and lasted 66 months, or about five and a half\nyears, required STDM to make a monthly payment of about MOP 1.8 million to the\ngovernment, disbursed once every three months.
\n\n\n\nEarlier this year, the\nMacau SAR government announced its intention to open the bidding process for\nthe operation of the Outer Harbour Ferry Terminal.
\n\n\n\nSubsequently, on 27 May,\nthe government published a notice revealing that the secretary for transport\nand public works, Raimundo Arrais do Ros\u00e1rio, had officially signed a notarised\ncontract with STDM, granting them the right to operate the ferry terminal.
\n\n\n\nSTDM will be required\nto submit business performance reports on or before 31 March each year.
\n\n\n\nThe contract also\nintroduces safeguards to protect the government’s interests.
\n\n\n\nIf STDM transfers more\nthan 50 per cent of its shares or equity during the concession period, the\ngovernment reserves the right to cancel the agreement.
\n\n\n\nFurthermore, the\ncontract emphasises the importance of ensuring fair treatment for employees at\nthe Outer Harbour Ferry Terminal.
\n\n\n\nSTDM is obliged to\nuphold a minimum wage policy, with compensation for hourly, daily, or monthly\nwages in compliance with the established minimum wage regulations.
\n", "content_text": "Macau authorities have\nagain granted STDM a 60-month concession to operate the Outer Harbour Ferry\nTerminal on the peninsula, as per an official gazette announcement.\n\n\n\nAs part of the deal,\nSTDM is obligated to contribute 18 per cent of its pre-tax profits as a return\nto the government.\n\n\n\nThis decision follows a\nlongstanding practice of entrusting the Outer Harbour Ferry Terminal’s\noperations to STDM. \n\n\n\nUnlike new terms and\nconditions, STDM’s payment to the government will now be based on 18 per cent\nof its annual pre-tax profits, offering more flexibility in the return\nmechanism. \n\n\n\nThe previous agreement,\nwhich commenced in November 2018 and lasted 66 months, or about five and a half\nyears, required STDM to make a monthly payment of about MOP 1.8 million to the\ngovernment, disbursed once every three months.\n\n\n\nEarlier this year, the\nMacau SAR government announced its intention to open the bidding process for\nthe operation of the Outer Harbour Ferry Terminal. \n\n\n\nSubsequently, on 27 May,\nthe government published a notice revealing that the secretary for transport\nand public works, Raimundo Arrais do Ros\u00e1rio, had officially signed a notarised\ncontract with STDM, granting them the right to operate the ferry terminal.\n\n\n\nSTDM will be required\nto submit business performance reports on or before 31 March each year.\n\n\n\nThe contract also\nintroduces safeguards to protect the government’s interests.\n\n\n\nIf STDM transfers more\nthan 50 per cent of its shares or equity during the concession period, the\ngovernment reserves the right to cancel the agreement.\n\n\n\nFurthermore, the\ncontract emphasises the importance of ensuring fair treatment for employees at\nthe Outer Harbour Ferry Terminal. \n\n\n\nSTDM is obliged to\nuphold a minimum wage policy, with compensation for hourly, daily, or monthly\nwages in compliance with the established minimum wage regulations.", "date_published": "June 26, 2024", "date_modified": "June 26, 2024 - 19:21", "author": { "name": "Aries Un", "url": "https://www.macaubusiness.com/author/aries-un/", "avatar": "https://secure.gravatar.com/avatar/7ae1d1264b8afa0640eb6915aab8c425?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/06/p23alyl8eb.jpeg", "tags": [ "Gaming", "Macau", "MNA", "MNA Featured" ], "summary": "Macau authorities have again granted STDM a 60-month concession to operate the Outer Harbour Ferry Terminal on the peninsula, as per an official gazette announcement." }, { "id": "https://www.macaubusiness.com/2024-ggr-likely-to-hit-us28-7-bln-seaport/", "url": "https://www.macaubusiness.com/2024-ggr-likely-to-hit-us28-7-bln-seaport/", "title": "2024 GGR likely to hit US$28.7 bln: Seaport", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/06/IMG_6151-150x150.jpeg\")
\nMacau’s gross gaming revenue (GGR) is expected to grow to US$28.7 billion (MOP231 billion) in 2024, up 26 per cent year-on-year.
\n\n\n\nThe first five months of the year already saw about MOP96 billion in GGR received, up nearly 48 per cent compared to the previous year.
\n\n\n\nChief Executive Ho Iat Seng has previously maintained an annual target of MOP216 billion, with a monthly amount of MOP18 billion needed to maintain the current stable trend.
\n\n\n\nAccording to Seaport Research Partners’ latest forecast, non-gaming revenues will have reached US$4.9 billion by then, up 17.7 per cent year-on-year.
\n\n\n\nThese two figures, as analyst Vitaly Umansky points out, will continue to rise to US$31.8 billion and US$5.3 billion respectively by 2025.
\n\n\n\nThe forecast for a stronger recovery is based on first-quarter performance, which, according to the analyst, reached 75.5 per cent of the corresponding level in 2019.
\n\n\n\nDespite an expected slowdown in June, this won’t stop the ongoing recovery from continuing, with the April-June period expected to see a 77 per cent recovery.
\n\n\n\nLooking ahead, the researcher has forecast flat growth for the third quarter of the year, largely due to a potentially weak September.
\n\n\n\nIt won’t be until the third quarter that casino revenue will recover to 80 per cent, the analyst said.
\n\n\n\n\u201cMacau remains a long-term secular growth story (while there may be some periods of cyclicality, as evident in many other consumer discretionary industries),\u201d the analyst wrote.
\n\n\n\n\u201cWe do not see a slowdown and change in propensity to gamble by the core Macau customer base and Macau remains the funnel for servicing gaming demand in Greater China.\u201d
\n", "content_text": "Macau’s gross gaming revenue (GGR) is expected to grow to US$28.7 billion (MOP231 billion) in 2024, up 26 per cent year-on-year. \n\n\n\nThe first five months of the year already saw about MOP96 billion in GGR received, up nearly 48 per cent compared to the previous year.\n\n\n\nChief Executive Ho Iat Seng has previously maintained an annual target of MOP216 billion, with a monthly amount of MOP18 billion needed to maintain the current stable trend. \n\n\n\nAccording to Seaport Research Partners’ latest forecast, non-gaming revenues will have reached US$4.9 billion by then, up 17.7 per cent year-on-year. \n\n\n\nThese two figures, as analyst Vitaly Umansky points out, will continue to rise to US$31.8 billion and US$5.3 billion respectively by 2025.\n\n\n\nThe forecast for a stronger recovery is based on first-quarter performance, which, according to the analyst, reached 75.5 per cent of the corresponding level in 2019.\n\n\n\nDespite an expected slowdown in June, this won’t stop the ongoing recovery from continuing, with the April-June period expected to see a 77 per cent recovery.\n\n\n\nLooking ahead, the researcher has forecast flat growth for the third quarter of the year, largely due to a potentially weak September.\n\n\n\nIt won’t be until the third quarter that casino revenue will recover to 80 per cent, the analyst said.\n\n\n\n\u201cMacau remains a long-term secular growth story (while there may be some periods of cyclicality, as evident in many other consumer discretionary industries),\u201d the analyst wrote.\n\n\n\n\u201cWe do not see a slowdown and change in propensity to gamble by the core Macau customer base and Macau remains the funnel for servicing gaming demand in Greater China.\u201d", "date_published": "June 26, 2024", "date_modified": "July 01, 2024 - 13:15", "author": { "name": "Aries Un", "url": "https://www.macaubusiness.com/author/aries-un/", "avatar": "https://secure.gravatar.com/avatar/7ae1d1264b8afa0640eb6915aab8c425?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/06/IMG_6151.jpeg", "tags": [ "Gaming", "Macau", "MNA", "MNA Featured" ], "summary": "Macau's gross gaming revenue (GGR) is expected to grow to US$28.7 billion (MOP231 billion) in 2024, up 26 per cent year-on-year. " }, { "id": "https://www.macaubusiness.com/china-continues-to-back-macau-sjm-repositions-glp-catering-to-base-mass/", "url": "https://www.macaubusiness.com/china-continues-to-back-macau-sjm-repositions-glp-catering-to-base-mass/", "title": "China continues to back Macau, SJM repositions GLP catering to base mass", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/06/d4f932394b6b7b46864e2782ea14b055-150x150.jpeg\")
\nChina continues to support Macau\u2019s growth and the SAR remains relatively insulated from China\u2019s macroeconomic issues, CBRE Equity Research has pointed out.
\n\n\n\nThis commentary was based on discussions between CBRE analysts John DeCree and Max Marsh with Christopher Ip, the chief financial officer of gaming operator SJM Holdings.
\n\n\n\n\u201cInvestors’ primary concern with Macau was unsurprisingly but overwhelmingly related to the regulatory environment and China risk. Given SJM is the longest running operator in Macau, investors can take some comfort in management’s confidence that China remains supportive of Macau,\u201d the analysts wrote.
\n\n\n\nThe report listed several examples to support this view, including China’s continued expansion of the Individual Visit Scheme (IVS) for travel to Macau and Hong Kong.\u00a0
\n\n\n\nAt the end of May, China increased the number of cities eligible for IVS from 51 to 59. This follows the addition of Xi’an and Qingdao to the IVS program earlier this year and several other relaxed policies related to business travel and multi-entry trips.
\n\n\n\nThe analysts also highlighted that although investors remain cautious about the economic outlook in China, the rebound of gross gaming revenue (GGR) in Macau in May suggests a reduced correlation between Macau’s recovery and China\u2019s macroeconomic situation.
\n\n\n\n\u201cAlthough we wouldn’t suggest Macau is immune to slowing economic growth in China, it has proven more resilient,\u201d the analysts said.
\n\n\n\nCBRE further pointed out that pent-up leisure demand in China, following a three-year lockdown, could be larger compared to other markets due to the longer duration of the lockdown in China relative to other jurisdictions.
\n\n\n\nMeanwhile, Macau’s mass market penetration in China remains quite low, but is expected to increase with more relaxed visa policies and improved travel capacity.
\n\n\n\nThe brokerage also indicated that SJM is now institutionalising its business and making \u2018a renaissance story\u2019, with the new CFO proactively introducing the company to investors globally.\u00a0
\n\n\n\nThe company is looking to reposition Grand Lisboa Palace (GLP) to better cater to base mass customers, increase visitation to the property, and identify operating efficiencies. Some of these initiatives include improving retail tenant occupancy and mix, adding new F&B outlets, new marketing initiatives, and cross-asset cooperation.
\n", "content_text": "China continues to support Macau\u2019s growth and the SAR remains relatively insulated from China\u2019s macroeconomic issues, CBRE Equity Research has pointed out.\n\n\n\nThis commentary was based on discussions between CBRE analysts John DeCree and Max Marsh with Christopher Ip, the chief financial officer of gaming operator SJM Holdings.\n\n\n\n\u201cInvestors’ primary concern with Macau was unsurprisingly but overwhelmingly related to the regulatory environment and China risk. Given SJM is the longest running operator in Macau, investors can take some comfort in management’s confidence that China remains supportive of Macau,\u201d the analysts wrote.\n\n\n\nThe report listed several examples to support this view, including China’s continued expansion of the Individual Visit Scheme (IVS) for travel to Macau and Hong Kong.\u00a0\n\n\n\nAt the end of May, China increased the number of cities eligible for IVS from 51 to 59. This follows the addition of Xi’an and Qingdao to the IVS program earlier this year and several other relaxed policies related to business travel and multi-entry trips. \n\n\n\nThe analysts also highlighted that although investors remain cautious about the economic outlook in China, the rebound of gross gaming revenue (GGR) in Macau in May suggests a reduced correlation between Macau’s recovery and China\u2019s macroeconomic situation.\n\n\n\n\u201cAlthough we wouldn’t suggest Macau is immune to slowing economic growth in China, it has proven more resilient,\u201d the analysts said.\n\n\n\nCBRE further pointed out that pent-up leisure demand in China, following a three-year lockdown, could be larger compared to other markets due to the longer duration of the lockdown in China relative to other jurisdictions.\n\n\n\nMeanwhile, Macau’s mass market penetration in China remains quite low, but is expected to increase with more relaxed visa policies and improved travel capacity.\n\n\n\nThe brokerage also indicated that SJM is now institutionalising its business and making \u2018a renaissance story\u2019, with the new CFO proactively introducing the company to investors globally.\u00a0\n\n\n\nThe company is looking to reposition Grand Lisboa Palace (GLP) to better cater to base mass customers, increase visitation to the property, and identify operating efficiencies. Some of these initiatives include improving retail tenant occupancy and mix, adding new F&B outlets, new marketing initiatives, and cross-asset cooperation.", "date_published": "June 26, 2024", "date_modified": "June 26, 2024 - 15:37", "author": { "name": "Therese Tu", "url": "https://www.macaubusiness.com/author/therese/", "avatar": "https://secure.gravatar.com/avatar/1d763f17b928c3298f1b719855931b70?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/06/d4f932394b6b7b46864e2782ea14b055.jpeg", "tags": [ "Gaming", "Macau", "MNA" ] }, { "id": "https://www.macaubusiness.com/emperor-entertainment-records-hkd62-8-mln-in-fy24-net-profit-recommends-dividend/", "url": "https://www.macaubusiness.com/emperor-entertainment-records-hkd62-8-mln-in-fy24-net-profit-recommends-dividend/", "title": "Emperor Entertainment records HKD62.8 mln in FY24 net profit, recommends dividend", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/06/Weixin-Image_20240625144120-150x150.jpg\")
\nSatellite casino operator Emperor Entertainment Hotel has announced a 171.1 per cent increase in revenue for the financial year ending March 2024 compared to the previous year, with revenues reaching HKD789.3 million (MOP813 million/ US$101 million).
\n\n\n\nThe surge in revenue is attributed to a revival in visitor arrivals and a recovery in hospitality and entertainment demand.
\n\n\n\nEmperor Entertainment operates hotels and serviced apartments across Macau and Hong Kong, including the Grand Emperor Hotel with gaming facilities and the Inn Hotel in Macau.
\n\n\n\nAccording to a stock filing sent to the HK Exchange on Monday, the group\u2019s revenue from hotels and serviced apartments grew by 62.3 per cent year on year to HKD330.1 million.
\n\n\n\nThe group\u2019s gaming revenue skyrocketed by 423.6 per cent to HKD459.2 million, accounting for 58.2 per cent of its total revenue.
\n\n\n\nWith the significant increase in total revenue, the company reported a net profit of HKD62.8 million for that financial year, reversing the net loss of HKD128 million recorded in the previous fiscal year.
\n\n\n\nThe board of directors recommended the payment of a final dividend of HKD0.015 per share for the year. If approved, the final dividend will be paid on 19 September.
\n\n\n\nRegarding the business outlook in Macau, Emperor Entertainment expressed optimism in the long-term growth in the market, citing enhanced transport infrastructure to and from nearby cities and Macau’s diverse leisure offerings and attractions.
\n", "content_text": "Satellite casino operator Emperor Entertainment Hotel has announced a 171.1 per cent increase in revenue for the financial year ending March 2024 compared to the previous year, with revenues reaching HKD789.3 million (MOP813 million/ US$101 million).\n\n\n\nThe surge in revenue is attributed to a revival in visitor arrivals and a recovery in hospitality and entertainment demand. \n\n\n\nEmperor Entertainment operates hotels and serviced apartments across Macau and Hong Kong, including the Grand Emperor Hotel with gaming facilities and the Inn Hotel in Macau.\n\n\n\nAccording to a stock filing sent to the HK Exchange on Monday, the group\u2019s revenue from hotels and serviced apartments grew by 62.3 per cent year on year to HKD330.1 million. \n\n\n\nThe group\u2019s gaming revenue skyrocketed by 423.6 per cent to HKD459.2 million, accounting for 58.2 per cent of its total revenue.\n\n\n\nWith the significant increase in total revenue, the company reported a net profit of HKD62.8 million for that financial year, reversing the net loss of HKD128 million recorded in the previous fiscal year.\n\n\n\nThe board of directors recommended the payment of a final dividend of HKD0.015 per share for the year. If approved, the final dividend will be paid on 19 September.\n\n\n\nRegarding the business outlook in Macau, Emperor Entertainment expressed optimism in the long-term growth in the market, citing enhanced transport infrastructure to and from nearby cities and Macau’s diverse leisure offerings and attractions.", "date_published": "June 25, 2024", "date_modified": "June 25, 2024 - 14:57", "author": { "name": "Therese Tu", "url": "https://www.macaubusiness.com/author/therese/", "avatar": "https://secure.gravatar.com/avatar/1d763f17b928c3298f1b719855931b70?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/06/Weixin-Image_20240625144120.jpg", "tags": [ "Gaming", "Macau", "MNA" ], "summary": "Satellite casino operator Emperor Entertainment Hotel has announced a 171.1 per cent increase in revenue for the financial year ending March 2024 compared to the previous year, with revenues reaching HKD789.3 million (MOP813 million)." }, { "id": "https://www.macaubusiness.com/macaus-2q-ggr-likely-to-drop-by-1-2-pct-ebitda-lower-than-expected-brokerage/", "url": "https://www.macaubusiness.com/macaus-2q-ggr-likely-to-drop-by-1-2-pct-ebitda-lower-than-expected-brokerage/", "title": "Macau\u2019s Q2 GGR likely to drop by 1-2 pct, EBITDA lower than expected \u2013 brokerage", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/06/Weixin-Image_20240624180511-150x150.png\")
\nBrokerage Morgan Stanley has forecast that Macau gaming operators will report lower EBITDA figures for the second quarter compared to market consensus, due to an expected decrease in mass revenue and rising costs.
\n\n\n\nIn a recent report, analysts Praveen K Choudhary, Gareth Leung, and Stephen W Grambling said that the city’s gross gaming revenue (GGR) is likely to see a 1-2 per cent quarter-on-quarter drop, while the industry’s mass GGR is predicted to decline by 2 to 3 per cent.
\n\n\n\nThe analysts also anticipate that June’s GGR will reach MOP18 billion (US$2.2 billion), marking an 11 per cent month-on-month decrease.
\n\n\n\nMorgan Stanley’s analysis indicates a downside risk for Sands China’s EBITDA consensus estimates, as the company is believed to have lost mass GGR market share due to ongoing construction disruptions.
\n\n\n\nThe analysts also say that that SJM is likely to achieve the market consensus of an 8 per cent quarter-on-quarter rise in EBITDA, attributed to the ramp-up of Grand Lisboa Palace.
\n\n\n\nThe brokerage highlighted that the sector had underperformed the Hang Seng Index by 18 per cent year-to-date, while the recent weakness was due to \u2018negative news flow and a lack of catalysts\u2019.
\n\n\n\nRegarding the second-quarter results, Morgan Stanley analysts prefer Galaxy and MGM China.
\n\n\n\nIn a Monday note, rating agency Moody’s Ratings said that they expected Macau-focused gaming companies SJM Holdings, Studio City Finance and its parent Melco Resorts & Entertainment to lower their adjusted debt/EBITDA over 2024 and 2025 to levels that better reflect their respective underlying credit quality.
\n\n\n\nFor US-based gaming companies Las Vegas Sands Corp., MGM Resorts International and Wynn Resorts Finance, LLC that operate in Asia, adjusted debt/EBITDA has already largely retreated back toward pre-pandemic levels.
\n", "content_text": "Brokerage Morgan Stanley has forecast that Macau gaming operators will report lower EBITDA figures for the second quarter compared to market consensus, due to an expected decrease in mass revenue and rising costs.\n\n\n\nIn a recent report, analysts Praveen K Choudhary, Gareth Leung, and Stephen W Grambling said that the city’s gross gaming revenue (GGR) is likely to see a 1-2 per cent quarter-on-quarter drop, while the industry’s mass GGR is predicted to decline by 2 to 3 per cent.\n\n\n\nThe analysts also anticipate that June’s GGR will reach MOP18 billion (US$2.2 billion), marking an 11 per cent month-on-month decrease.\n\n\n\nMorgan Stanley’s analysis indicates a downside risk for Sands China’s EBITDA consensus estimates, as the company is believed to have lost mass GGR market share due to ongoing construction disruptions.\n\n\n\nThe analysts also say that that SJM is likely to achieve the market consensus of an 8 per cent quarter-on-quarter rise in EBITDA, attributed to the ramp-up of Grand Lisboa Palace.\n\n\n\nThe brokerage highlighted that the sector had underperformed the Hang Seng Index by 18 per cent year-to-date, while the recent weakness was due to \u2018negative news flow and a lack of catalysts\u2019. \n\n\n\nRegarding the second-quarter results, Morgan Stanley analysts prefer Galaxy and MGM China.\n\n\n\nIn a Monday note, rating agency Moody’s Ratings said that they expected Macau-focused gaming companies SJM Holdings, Studio City Finance and its parent Melco Resorts & Entertainment to lower their adjusted debt/EBITDA over 2024 and 2025 to levels that better reflect their respective underlying credit quality. \n\n\n\nFor US-based gaming companies Las Vegas Sands Corp., MGM Resorts International and Wynn Resorts Finance, LLC that operate in Asia, adjusted debt/EBITDA has already largely retreated back toward pre-pandemic levels.", "date_published": "June 24, 2024", "date_modified": "June 25, 2024 - 10:16", "author": { "name": "Therese Tu", "url": "https://www.macaubusiness.com/author/therese/", "avatar": "https://secure.gravatar.com/avatar/1d763f17b928c3298f1b719855931b70?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/06/Weixin-Image_20240624180511.png", "tags": [ "Gaming", "Macau", "MNA" ], "summary": "Brokerage Morgan Stanley has forecast that Macau gaming operators will report lower EBITDA figures for the second quarter compared to market consensus, due to an expected decrease in mass revenue and rising costs." }, { "id": "https://www.macaubusiness.com/seasonal-slowdown-june-1-23-ggr-likely-at-mop13-3-bln-j-p-morgan/", "url": "https://www.macaubusiness.com/seasonal-slowdown-june-1-23-ggr-likely-at-mop13-3-bln-j-p-morgan/", "title": "Seasonal slowdown: June 1-23 GGR likely at MOP13.3 bln \u2013 J. P. Morgan", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/05/AdobeStock_90792914-150x150.jpg\")
\nA seasonal slowdown has emerged in the gaming sector as gross gaming revenue for the first 23 days of June is expected to be about MOP13.3 billion (US$1.66 billion).
\n\n\n\nAccording to J.P. Morgan analysts DS Kim, Mufan Shi, and Selina Li, this figure translates to a run rate of MOP578 million per day, dragged down by last week\u2019s daily run rate, which edged down further to MOP514 million per day, compared to MOP533 million the week before.
\n\n\n\nIt is said to be the lowest level in at least six months due to several factors such as a post-holiday slowdown, the ongoing UEFA European Football Championship, and the seasonal trend.
\n\n\n\nThe analysts has also mentioned in their note a poor VIP win rate, about 2.6 to 2.8 percent compared to at least 3 percent typically.
\n\n\n\n\u201cBy segment for month-to-date, we estimate mass GGR is at 105%+ of the pre-COVID level, while VIP is around the low-20s% \u2013 both in line with 4Q\u2019s run rate but weaker than April/May GGR beats,\u201d the analysts wrote.
\n\n\n\nRegarding the second quarter-to-date data, it indicates that casino revenue is expected to fall slightly by around two to three percent from the previous quarter.
\n\n\n\nThis decline is primarily driven by a 2 percent decline in the mass segment and a 5 percent drop in the VIP segment.
\n", "content_text": "A seasonal slowdown has emerged in the gaming sector as gross gaming revenue for the first 23 days of June is expected to be about MOP13.3 billion (US$1.66 billion).\n\n\n\nAccording to J.P. Morgan analysts DS Kim, Mufan Shi, and Selina Li, this figure translates to a run rate of MOP578 million per day, dragged down by last week\u2019s daily run rate, which edged down further to MOP514 million per day, compared to MOP533 million the week before.\n\n\n\nIt is said to be the lowest level in at least six months due to several factors such as a post-holiday slowdown, the ongoing UEFA European Football Championship, and the seasonal trend.\n\n\n\nThe analysts has also mentioned in their note a poor VIP win rate, about 2.6 to 2.8 percent compared to at least 3 percent typically.\n\n\n\n\u201cBy segment for month-to-date, we estimate mass GGR is at 105%+ of the pre-COVID level, while VIP is around the low-20s% \u2013 both in line with 4Q\u2019s run rate but weaker than April/May GGR beats,\u201d the analysts wrote.\n\n\n\nRegarding the second quarter-to-date data, it indicates that casino revenue is expected to fall slightly by around two to three percent from the previous quarter.\n\n\n\nThis decline is primarily driven by a 2 percent decline in the mass segment and a 5 percent drop in the VIP segment.", "date_published": "June 24, 2024", "date_modified": "July 01, 2024 - 13:06", "author": { "name": "Aries Un", "url": "https://www.macaubusiness.com/author/aries-un/", "avatar": "https://secure.gravatar.com/avatar/7ae1d1264b8afa0640eb6915aab8c425?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/05/AdobeStock_90792914.jpg", "tags": [ "Gaming", "Macau", "MNA", "MNA Featured" ], "summary": "A seasonal slowdown has emerged in the gaming sector as gross gaming revenue for the first 23 days of June is expected to be about MOP13.3 billion (US$1.66 billion)." }, { "id": "https://www.macaubusiness.com/mgm-cotai-expansion-in-progress-targeting-mass-market-guests-media/", "url": "https://www.macaubusiness.com/mgm-cotai-expansion-in-progress-targeting-mass-market-guests-media/", "title": "MGM Cotai expansion in progress with focus on wellness \u2013 Media", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2023/11/MGM-Cotai-150x150.png\")
\nMGM China Holdings Ltd. is planning to expand its casino resort in Cotai, with a focus on enhancing its wellness services, Bloomberg reported.
\n\n\n\nAccording to the business news outlet, the gaming operator is considering the construction of a wellness-themed building, which will add hundreds of hotel rooms, spas, and health treatment services to the MGM Cotai resort.
\n\n\n\nAn unnamed source who disclosed this information to Bloomberg revealed that MGM China aims to enrich its non-gaming offerings through this expansion project, targeting mass-market customers, particularly those in the premium mass segment.
\n\n\n\nThe source mentioned that the group has consulted with various experts and designers about the expansion plan, noting that the project is “at an early stage and could still change.”
\n\n\n\nIn the first quarter of 2024, MGM China saw a recovery in daily gaming revenue, reaching 136 percent of pre-COVID levels. The group’s net revenue for the first three months amounted to HKD 8.3 billion (US$1.06 billion), representing a year-on-year increase of over 70 percent and a recovery to 143 percent of the corresponding 2019 figure.
![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/06/Weixin-Image_20240619132431-150x150.jpg\")
\nMelco Resorts & Entertainment announced that the cinema at its Studio City property, the first Dolby cinema in Macau and Hong Kong, will be opened on 26 June.
\n\n\n\nThe Studio City Cinema is a part of the US$ 1.2 billion (MOP9.63 billion) Phase 2 development of Studio City. The resort complex also features two luxury hotel towers – Epic Tower and W Macau – , as well as a 10,000-square-meter water park and a new 1,100 square metres of MICE space.
\n\n\n\nMelco says that the 770-seat capacity cineplex will comprise 9 houses, including 5 VIP suites and a screening house with paired seating.
\n\n\n\nThe highlight of the new cinema – the Dolby cinema house -, incorporates Dolby Atmos\u00d2 immersive sound technology and Dolby Vision\u00d2 picture quality. The other houses are equipped with RealLaser 4K projection, with three of them also supporting Dolby Atmos sound.
\n\n\n\nMr. Kevin Benning, senior vice president, property general manager of Studio City, Melco Resorts & Entertainment, said, \u201cThe new movie theatre destination will complement Studio City\u2019s collection of incredibly diverse and cosmopolitan contemporary leisure and lifestyle experiences.\u201d
\n\n\n\n\u201cMelco will continue to contribute towards the city\u2019s economic diversification initiatives and support the government in promoting Macau as the World Center of Tourism and Leisure through the delivery of innovative and world-class entertainment and hospitality experiences,\u201d he added.
\n", "content_text": "Melco Resorts & Entertainment announced that the cinema at its Studio City property, the first Dolby cinema in Macau and Hong Kong, will be opened on 26 June.\n\n\n\nThe Studio City Cinema is a part of the US$ 1.2 billion (MOP9.63 billion) Phase 2 development of Studio City. The resort complex also features two luxury hotel towers – Epic Tower and W Macau – , as well as a 10,000-square-meter water park and a new 1,100 square metres of MICE space.\n\n\n\nMelco says that the 770-seat capacity cineplex will comprise 9 houses, including 5 VIP suites and a screening house with paired seating. \n\n\n\nThe highlight of the new cinema – the Dolby cinema house -, incorporates Dolby Atmos\u00d2 immersive sound technology and Dolby Vision\u00d2 picture quality. The other houses are equipped with RealLaser 4K projection, with three of them also supporting Dolby Atmos sound.\n\n\n\nMr. Kevin Benning, senior vice president, property general manager of Studio City, Melco Resorts & Entertainment, said, \u201cThe new movie theatre destination will complement Studio City\u2019s collection of incredibly diverse and cosmopolitan contemporary leisure and lifestyle experiences.\u201d\n\n\n\n\u201cMelco will continue to contribute towards the city\u2019s economic diversification initiatives and support the government in promoting Macau as the World Center of Tourism and Leisure through the delivery of innovative and world-class entertainment and hospitality experiences,\u201d he added.", "date_published": "June 19, 2024", "date_modified": "June 19, 2024 - 13:30", "author": { "name": "Therese Tu", "url": "https://www.macaubusiness.com/author/therese/", "avatar": "https://secure.gravatar.com/avatar/1d763f17b928c3298f1b719855931b70?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/06/Weixin-Image_20240619132431.jpg", "tags": [ "Gaming", "Macau", "MNA" ] }, { "id": "https://www.macaubusiness.com/euro-2024-likely-to-drag-casino-revenue-down-to-mop17-bln/", "url": "https://www.macaubusiness.com/euro-2024-likely-to-drag-casino-revenue-down-to-mop17-bln/", "title": "Euro 2024 likely to drag casino revenue down to MOP17 bln", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/05/AdobeStock_316678651-150x150.jpg\")
\nGross gaming revenue (GGR) for June is expected to fall to a range of MOP17 billion (US$2.11 billion) to MOP18.1 billion, representing a month-on-month decline of 10 to 15 percent.
\n\n\n\nThe fresh forecast comes from HSBC Holdings plc, whose analysts expect gaming demand to be hit by the ongoing UEFA European Football Championship, running from 14 June to 14 July.
\n\n\n\nAccording to analysts Charlene Liu, Jessie Lu and Lauren Cai, the first 16 days of the month saw approximately MOP9.7 billion in GGR. This translates to an average daily run rate of MOP606 million per day, down 7 per cent from May’s MOP651 million.
\n\n\n\n“Last week’s run rate dropped 18% sequentially to MOP533 million per day. Apart from the lower VIP win rate (2.7-2.9% vs. 2.8-3% in the previous week), gaming demand may have been diluted by sports betting around the ongoing UEFA Euro 2024 tournament,” the analysts wrote.
\n\n\n\nIf the June forecast proves to be accurate, it will be around 72 to 76 per cent of the comparable level in 2019.
\n\n\n\nIs limited freebies distribution significant?
\n\n\n\nCasino operators are believed to have changed the way they distribute free snacks under pressure from the government, and HSBC analysts believe that a potential change in policy would only affect footfall rather than GGR.
\n\n\n\n“This also takes into account that players can still redeem token loyalty points for snacks and drinks — this should help to further buffer any impact on GGR,” they wrote.
\n\n\n\n“That said, the situation remains fluid and the final requirements will take time to finalise between the government and operators.”
\n\n\n\nThe government’s decision was reportedly a response to complaints from local business groups, who had argued that the offer of free food at casinos had affected the business of local small and medium-sized enterprises, leading to a decline in tourist spending within the local community.
\n", "content_text": "Gross gaming revenue (GGR) for June is expected to fall to a range of MOP17 billion (US$2.11 billion) to MOP18.1 billion, representing a month-on-month decline of 10 to 15 percent.\n\n\n\nThe fresh forecast comes from HSBC Holdings plc, whose analysts expect gaming demand to be hit by the ongoing UEFA European Football Championship, running from 14 June to 14 July. \n\n\n\nAccording to analysts Charlene Liu, Jessie Lu and Lauren Cai, the first 16 days of the month saw approximately MOP9.7 billion in GGR. This translates to an average daily run rate of MOP606 million per day, down 7 per cent from May’s MOP651 million.\n\n\n\n“Last week’s run rate dropped 18% sequentially to MOP533 million per day. Apart from the lower VIP win rate (2.7-2.9% vs. 2.8-3% in the previous week), gaming demand may have been diluted by sports betting around the ongoing UEFA Euro 2024 tournament,” the analysts wrote. \n\n\n\nIf the June forecast proves to be accurate, it will be around 72 to 76 per cent of the comparable level in 2019. \n\n\n\nIs limited freebies distribution significant? \n\n\n\nCasino operators are believed to have changed the way they distribute free snacks under pressure from the government, and HSBC analysts believe that a potential change in policy would only affect footfall rather than GGR. \n\n\n\n“This also takes into account that players can still redeem token loyalty points for snacks and drinks — this should help to further buffer any impact on GGR,” they wrote.\n\n\n\n“That said, the situation remains fluid and the final requirements will take time to finalise between the government and operators.”\n\n\n\nThe government’s decision was reportedly a response to complaints from local business groups, who had argued that the offer of free food at casinos had affected the business of local small and medium-sized enterprises, leading to a decline in tourist spending within the local community.", "date_published": "June 18, 2024", "date_modified": "June 18, 2024 - 19:24", "author": { "name": "Aries Un", "url": "https://www.macaubusiness.com/author/aries-un/", "avatar": "https://secure.gravatar.com/avatar/7ae1d1264b8afa0640eb6915aab8c425?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/05/AdobeStock_316678651.jpg", "tags": [ "Gaming", "Macau", "MNA", "MNA Featured" ], "summary": "Gross gaming revenue (GGR) for June is expected to fall to a range of MOP 17 billion to MOP 18.1 billion, representing a month-on-month decline of 10 to 15 percent." }, { "id": "https://www.macaubusiness.com/mgms-pansy-ho-urges-business-innovation-to-keep-city-innovative/", "url": "https://www.macaubusiness.com/mgms-pansy-ho-urges-business-innovation-to-keep-city-innovative/", "title": "MGM\u2019s Pansy Ho urges business innovation to keep city innovative", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/06/9907240_799b923b-72f2-4913-be62-1dc31b81f699-150x150.jpg\")
\nPansy Ho of MGM China Holdings has expressed confidence in Macau’s future as a tourism hub, saying the gaming destination will remain competitive in the long term as long as it continues to innovate.
\n\n\n\nSpeaking at a media briefing on the city’s development on Monday, Pansy Ho, chairwoman and executive director of MGM China, said Macau has already become a world leader in tourism.
\n\n\n\n“With a population of only a few hundred thousand, we are able to accommodate tens of millions (of tourists),” Ho said.
\n\n\n\n“In such a small place, we have tens of thousands of rooms, all five-star international brands. This is unique in the world and a world-class example.”
\n\n\n\nHo stressed that Macau had not yet “gone all the way”, adding that there was no need to make short-term comparisons.
\n\n\n\n“We are taking things step by step, without blindly comparing ourselves to others in the short term. We are focusing on laying a solid foundation before moving on,” she said.
\n\n\n\nCommenting on Macau’s tourism development, Ho pointed out that there had been a noticeable shift towards a younger visitor demographic and changes in consumer behaviour, stressing that “it is necessary for local businesses to constantly innovate to keep up with evolving trends”.
\n\n\n\nAccording to her, the government has mandated casino operators to host two international sporting events every month and a major arts event every two years.
\n\n\n\nCasino operators have also been asked to host various art exhibitions every few months.
\n", "content_text": "Pansy Ho of MGM China Holdings has expressed confidence in Macau’s future as a tourism hub, saying the gaming destination will remain competitive in the long term as long as it continues to innovate.\n\n\n\nSpeaking at a media briefing on the city’s development on Monday, Pansy Ho, chairwoman and executive director of MGM China, said Macau has already become a world leader in tourism.\n\n\n\n“With a population of only a few hundred thousand, we are able to accommodate tens of millions (of tourists),” Ho said.\n\n\n\n“In such a small place, we have tens of thousands of rooms, all five-star international brands. This is unique in the world and a world-class example.”\n\n\n\nHo stressed that Macau had not yet “gone all the way”, adding that there was no need to make short-term comparisons.\n\n\n\n“We are taking things step by step, without blindly comparing ourselves to others in the short term. We are focusing on laying a solid foundation before moving on,” she said.\n\n\n\nCommenting on Macau’s tourism development, Ho pointed out that there had been a noticeable shift towards a younger visitor demographic and changes in consumer behaviour, stressing that “it is necessary for local businesses to constantly innovate to keep up with evolving trends”.\n\n\n\nAccording to her, the government has mandated casino operators to host two international sporting events every month and a major arts event every two years.\n\n\n\nCasino operators have also been asked to host various art exhibitions every few months.", "date_published": "June 18, 2024", "date_modified": "June 18, 2024 - 17:41", "author": { "name": "Aries Un", "url": "https://www.macaubusiness.com/author/aries-un/", "avatar": "https://secure.gravatar.com/avatar/7ae1d1264b8afa0640eb6915aab8c425?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/06/9907240_799b923b-72f2-4913-be62-1dc31b81f699.jpg", "tags": [ "Gaming", "Macau", "MNA", "MNA Featured" ], "summary": "Pansy Ho of MGM China Holdings has expressed confidence in Macau's future as a tourism hub, saying the gaming destination will remain competitive in the long term as long as it continues to innovate." }, { "id": "https://www.macaubusiness.com/fb-sector-rep-urges-entry-of-local-smes-into-casino-resorts/", "url": "https://www.macaubusiness.com/fb-sector-rep-urges-entry-of-local-smes-into-casino-resorts/", "title": "F&B sector rep urges entry of local SMEs into casino resorts", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/06/Weixin-Image_20240618151646-150x150.jpg\")
\nThe local food and\nbeverage sector is urging small and medium-sized enterprises (SMEs) to set up\nshop in gaming resorts, while calling on the government and concessionaires to\nreduce rental fees.
\n\n\n\nFong Kin Fu,\nvice-director of the United Association of Food and Beverage Merchants of\nMacau, told the Chinese-language Macau Daily that restaurants in the local\ncommunity had seen an increase in patronage after casino resorts stopped\noffering free food.
\n\n\n\nHe said that offering\nfree snacks and drinks at integrated resorts was a gesture of hospitality to\ntourists, and that the practice was not intended to compete with local SMEs.
\n\n\n\nHowever, he stressed\nthat the practice had inadvertently encouraged a culture of budget tourism in\nMacau.
\n\n\n\nThe representative of\nthe catering industry expressed his desire to see local SMEs open shops in the\ngaming resorts. This move, he said, would not only promote Macau’s culinary\nculture, but also support the expansion of these businesses.
\n\n\n\nHowever, Fong\nhighlighted the challenges faced by SMEs due to exorbitant rental fees and\ncomplex procedures in gaming resorts.
\n\n\n\nTo address this issue,\nFong suggested that the government and gaming operators consider implementing\nsupport measures to lower thresholds and make venues more accessible to SMEs.
\n\n\n\nHe also suggested the\nintroduction of pilot programmes to allow SMEs to operate in gaming resorts.
\n\n\n\nAccording to recent\nreports circulating on social media, the city’s gaming regulator, the Gaming\nInspection and Co-ordination Bureau (DICJ), has ordered the six gaming\nconcessionaires to stop providing free snacks and drinks in their casinos.
\n\n\n\nThe government’s\ndecision was reportedly a response to complaints from local business\nassociations, who have argued that the provision of free food at casinos has\naffected the business of local SMEs and led to a decline in tourist spending\nwithin the local community.
\n\n\n\nSince the relaxation of\nCovid restrictions, Macau has experienced a surge in visitor arrivals, with\nmany tourists sharing tips on social media platforms on how to take advantage\nof free food offers at local casinos and how to “travel for free” in\nthe city.
\n\n\n\nCommenting on the\npotential impact of free snacks at gaming resorts on local SMEs, Cheng Wai\nTong, deputy director of the Macau Government Tourism Office (MGTO), pointed\nout that official data shows that non-gaming spending per visitor has increased\nrecently compared to pre-pandemic levels.
\n", "content_text": "The local food and\nbeverage sector is urging small and medium-sized enterprises (SMEs) to set up\nshop in gaming resorts, while calling on the government and concessionaires to\nreduce rental fees. \n\n\n\nFong Kin Fu,\nvice-director of the United Association of Food and Beverage Merchants of\nMacau, told the Chinese-language Macau Daily that restaurants in the local\ncommunity had seen an increase in patronage after casino resorts stopped\noffering free food.\n\n\n\nHe said that offering\nfree snacks and drinks at integrated resorts was a gesture of hospitality to\ntourists, and that the practice was not intended to compete with local SMEs.\n\n\n\nHowever, he stressed\nthat the practice had inadvertently encouraged a culture of budget tourism in\nMacau.\n\n\n\nThe representative of\nthe catering industry expressed his desire to see local SMEs open shops in the\ngaming resorts. This move, he said, would not only promote Macau’s culinary\nculture, but also support the expansion of these businesses.\n\n\n\nHowever, Fong\nhighlighted the challenges faced by SMEs due to exorbitant rental fees and\ncomplex procedures in gaming resorts. \n\n\n\nTo address this issue,\nFong suggested that the government and gaming operators consider implementing\nsupport measures to lower thresholds and make venues more accessible to SMEs.\n\n\n\nHe also suggested the\nintroduction of pilot programmes to allow SMEs to operate in gaming resorts.\n\n\n\nAccording to recent\nreports circulating on social media, the city’s gaming regulator, the Gaming\nInspection and Co-ordination Bureau (DICJ), has ordered the six gaming\nconcessionaires to stop providing free snacks and drinks in their casinos.\n\n\n\nThe government’s\ndecision was reportedly a response to complaints from local business\nassociations, who have argued that the provision of free food at casinos has\naffected the business of local SMEs and led to a decline in tourist spending\nwithin the local community.\n\n\n\nSince the relaxation of\nCovid restrictions, Macau has experienced a surge in visitor arrivals, with\nmany tourists sharing tips on social media platforms on how to take advantage\nof free food offers at local casinos and how to “travel for free” in\nthe city.\n\n\n\nCommenting on the\npotential impact of free snacks at gaming resorts on local SMEs, Cheng Wai\nTong, deputy director of the Macau Government Tourism Office (MGTO), pointed\nout that official data shows that non-gaming spending per visitor has increased\nrecently compared to pre-pandemic levels.", "date_published": "June 18, 2024", "date_modified": "June 18, 2024 - 15:20", "author": { "name": "Therese Tu", "url": "https://www.macaubusiness.com/author/therese/", "avatar": "https://secure.gravatar.com/avatar/1d763f17b928c3298f1b719855931b70?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/06/Weixin-Image_20240618151646.jpg", "tags": [ "Gaming", "Macau", "MNA", "MNA Featured" ] }, { "id": "https://www.macaubusiness.com/mgm-china-eyes-investment-in-thailands-casino-resort-report/", "url": "https://www.macaubusiness.com/mgm-china-eyes-investment-in-thailands-casino-resort-report/", "title": "MGM China eyes investment in Thailand\u2019s casino resort \u2014 Report", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/06/8b6ecf7e174bd430d93813f271948e6a-150x150.png\")
\nMGM China Holdings, the operator of two casino resorts in Macau, is considering new investment opportunities in Thailand’s proposed casino complex, the Tourism Authority of Thailand (TAT) has revealed.
\n\n\n\nAccording to a recent report by English-language daily newspaper Bangkok Post, TAT governor Thapanee Kiatphaibool said that MGM China had expressed its interest in promoting Macau\u2019s tourism to the Thai market and investing in Thailand’s proposed casino resort.
\n\n\n\nAfter meeting Pansy Ho, chairperson and executive director of MGM China, Kiatphaibool indicated that Thailand\u2019s tourism authorities were planning to discuss with MGM over \u2018possible collaboration to improve Thailand’s competitiveness\u2019 through the development of new tourism-related products, including man-made attractions.
\n\n\n\nThailand authorities are currently drafting a legal framework for gaming, which involves approval for the development of up to five large-scale integrated resorts nationwide, with the aim of promoting tourism and generating tax revenue.
\n\n\n\nDuring the G2E Asia event earlier this month, Lau Kok Keng, partner and head of Gaming Law Practice at Rajah&Tann Singapore LLP, predicted that Thailand would legalise casino gambling and build its first integrated casino resort by as soon as 2029 to beat the opening of Japan\u2019s Osaka resort.
\n\n\n\nLast week, the Macao Government Tourism Office (MGTO) and the city\u2019s gaming and integrated resorts rolled into Thailand to sign a tourism deal, with a roadshow officially kicking off in Bangkok.
\n\n\n\nFrom the event, Macau News Agency (MNA) learned that Macau operators were keeping an eye on the legalisation of gaming in Thailand.
\n\n\n\nWhile the Macau players stay mum about the possibility of entering Thailand for gaming, some are privately gleeful about its prospects.
\n\n\n\nMeanwhile, MGM\u2019s Pansy Ho held a separate promotional VIP gala dinner at Rosewood Bangkok, which was attended by senior executives, Thai celebrities and VIPs to highlight gastronomy and promote MGM properties.
\n", "content_text": "MGM China Holdings, the operator of two casino resorts in Macau, is considering new investment opportunities in Thailand’s proposed casino complex, the Tourism Authority of Thailand (TAT) has revealed.\n\n\n\nAccording to a recent report by English-language daily newspaper Bangkok Post, TAT governor Thapanee Kiatphaibool said that MGM China had expressed its interest in promoting Macau\u2019s tourism to the Thai market and investing in Thailand’s proposed casino resort. \n\n\n\nAfter meeting Pansy Ho, chairperson and executive director of MGM China, Kiatphaibool indicated that Thailand\u2019s tourism authorities were planning to discuss with MGM over \u2018possible collaboration to improve Thailand’s competitiveness\u2019 through the development of new tourism-related products, including man-made attractions.\n\n\n\nThailand authorities are currently drafting a legal framework for gaming, which involves approval for the development of up to five large-scale integrated resorts nationwide, with the aim of promoting tourism and generating tax revenue.\n\n\n\nDuring the G2E Asia event earlier this month, Lau Kok Keng, partner and head of Gaming Law Practice at Rajah&Tann Singapore LLP, predicted that Thailand would legalise casino gambling and build its first integrated casino resort by as soon as 2029 to beat the opening of Japan\u2019s Osaka resort. \n\n\n\nLast week, the Macao Government Tourism Office (MGTO) and the city\u2019s gaming and integrated resorts rolled into Thailand to sign a tourism deal, with a roadshow officially kicking off in Bangkok. \n\n\n\nFrom the event, Macau News Agency (MNA) learned that Macau operators were keeping an eye on the legalisation of gaming in Thailand. \n\n\n\nWhile the Macau players stay mum about the possibility of entering Thailand for gaming, some are privately gleeful about its prospects. \n\n\n\nMeanwhile, MGM\u2019s Pansy Ho held a separate promotional VIP gala dinner at Rosewood Bangkok, which was attended by senior executives, Thai celebrities and VIPs to highlight gastronomy and promote MGM properties.", "date_published": "June 17, 2024", "date_modified": "June 18, 2024 - 01:45", "author": { "name": "Therese Tu", "url": "https://www.macaubusiness.com/author/therese/", "avatar": "https://secure.gravatar.com/avatar/1d763f17b928c3298f1b719855931b70?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/06/8b6ecf7e174bd430d93813f271948e6a.png", "tags": [ "Gaming", "International", "Macau", "MNA" ] }, { "id": "https://www.macaubusiness.com/macau-seeks-thai-tourists-as-operators-eye-kingdoms-potential-gaming-legalisation/", "url": "https://www.macaubusiness.com/macau-seeks-thai-tourists-as-operators-eye-kingdoms-potential-gaming-legalisation/", "title": "Macau seeks Thai tourists as operators eye kingdom\u2019s potential gaming legalisation", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/06/Experience-Macao-150x150.jpeg\")
\nBy Christopher Cottrell, in Bangkok, Thailand
\n\n\n\nThe Macao Government Tourism Office (MGTO) and the city\u2019s leading gaming and integrated resorts rolled into Thailand to strike tourism accord with a roadshow officially launching on Friday in Bangkok\u2019s sprawling Centara mega-mall.
\n\n\n\nDirector Maria Helena de Senna Fernandes said, \u201cWe were here last year for the first roadshow after the pandemic. This is an annual get together we would like to continue forward.\u201d
\n\n\n\nHighlighting Macau\u2019s gastronomy and cultural heritage, plus multi-destination packages with Hengqin, Hong Kong and other Greater Bay Area cities, Director de Senna Fernandes noted that Thailand is a key overseas market for Macau, ranked 5th for visitors.
\n\n\n\nThe leading list is Korea, Philippines, Indonesia, Malaysia and Thailand, she said.
\n\n\n\n![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/06/Guests-officiate-the-roadshow%E2%80%99s-opening-ceremony-1028x685.jpeg\")
The hope is to increase Thailand visitors, but some Macau operators are also keeping an eye on the legalisation of gaming in Thailand, Macau Business has learned. While the Macau players stay mum about up about possibly entering Thailand for gaming, some are privately gleeful about its prospects.
\n\n\n\nThai Prime Minister Srettha Thavisin directed his Deputy Finance Minister, Julapun Amornvivat, earlier this month to draft a bill that lays the legal foundation for the establishment of entertainment complexes where gaming can take place.
\n\n\n\nCarlos Lobo, an independent legal analyst , observes that \u201cit\u2019s not set in stone, but I believe Thailand will move forward in allowing casino gaming in the country. Another issue will be the challenge for US-based companies to address compliance issues. Regardless, those companies that will operate casinos in Thailand will compete with Macau properties, both with Mainland China and foreign customers alike.\u201d
\n\n\n\nAsked about Thailand\u2019s move to legalize gaming entertainment complexes and what it could mean for Macau to compete with, Director Senna Fernandes replied, \u201cIt\u2019s very difficult to make a guess, but my feeling is that nowadays in fact a lot of countries in Southeast Asia do have casinos, in Malaysia for many years already, Singapore also, Cambodia. It\u2019s not something new in terms of different countries or places having casinos. At the end of the day, we need to make ourselves competitive.\u201d
\n\n\n\nShe added, \u201cWe need to have products not only casinos. We have to have non-gaming products that give people a variety of things to do. If you have a lot of different things to offer that will also help the casino businesses. They work hand in hand together.\u201d
\n\n\n\nMacau\u2019s competition for tourism also comes from other cities in mainland China and globally.
\n\n\n\n\u201cActually, everybody is a competitor.\u201d
\n\n\n\nShe also remarked that they are domestically promoting tourism to harness \u201ctechnology with apps for exploring Macau\u201d to health and wellbeing to modern finance to MICE, sports, culture and commerce.
\n\n\n\nPansy Ho, MGM Director, held a separate promotional VIP Gala dinner at the Rosewood Bangkok with senior executives, Thai celebrities and VIPs to highlight gastronomy and promote MGM properties.
\n", "content_text": "By Christopher Cottrell, in Bangkok, Thailand \n\n\n\nThe Macao Government Tourism Office (MGTO) and the city\u2019s leading gaming and integrated resorts rolled into Thailand to strike tourism accord with a roadshow officially launching on Friday in Bangkok\u2019s sprawling Centara mega-mall. \n\n\n\nDirector Maria Helena de Senna Fernandes said, \u201cWe were here last year for the first roadshow after the pandemic. This is an annual get together we would like to continue forward.\u201d\n\n\n\nHighlighting Macau\u2019s gastronomy and cultural heritage, plus multi-destination packages with Hengqin, Hong Kong and other Greater Bay Area cities, Director de Senna Fernandes noted that Thailand is a key overseas market for Macau, ranked 5th for visitors.\n\n\n\nThe leading list is Korea, Philippines, Indonesia, Malaysia and Thailand, she said.\n\n\n\n\n\n\n\nThe hope is to increase Thailand visitors, but some Macau operators are also keeping an eye on the legalisation of gaming in Thailand, Macau Business has learned. While the Macau players stay mum about up about possibly entering Thailand for gaming, some are privately gleeful about its prospects. \n\n\n\nThai Prime Minister Srettha Thavisin directed his Deputy Finance Minister, Julapun Amornvivat, earlier this month to draft a bill that lays the legal foundation for the establishment of entertainment complexes where gaming can take place.\n\n\n\nCarlos Lobo, an independent legal analyst , observes that \u201cit\u2019s not set in stone, but I believe Thailand will move forward in allowing casino gaming in the country. Another issue will be the challenge for US-based companies to address compliance issues. Regardless, those companies that will operate casinos in Thailand will compete with Macau properties, both with Mainland China and foreign customers alike.\u201d\n\n\n\nAsked about Thailand\u2019s move to legalize gaming entertainment complexes and what it could mean for Macau to compete with, Director Senna Fernandes replied, \u201cIt\u2019s very difficult to make a guess, but my feeling is that nowadays in fact a lot of countries in Southeast Asia do have casinos, in Malaysia for many years already, Singapore also, Cambodia. It\u2019s not something new in terms of different countries or places having casinos. At the end of the day, we need to make ourselves competitive.\u201d \n\n\n\nShe added, \u201cWe need to have products not only casinos. We have to have non-gaming products that give people a variety of things to do. If you have a lot of different things to offer that will also help the casino businesses. They work hand in hand together.\u201d \n\n\n\nMacau\u2019s competition for tourism also comes from other cities in mainland China and globally. \n\n\n\n\u201cActually, everybody is a competitor.\u201d\n\n\n\nShe also remarked that they are domestically promoting tourism to harness \u201ctechnology with apps for exploring Macau\u201d to health and wellbeing to modern finance to MICE, sports, culture and commerce. \n\n\n\nPansy Ho, MGM Director, held a separate promotional VIP Gala dinner at the Rosewood Bangkok with senior executives, Thai celebrities and VIPs to highlight gastronomy and promote MGM properties. ", "date_published": "June 15, 2024", "date_modified": "June 15, 2024 - 12:23", "author": { "name": "Newsdesk", "url": "https://www.macaubusiness.com/author/newsdesk/", "avatar": "https://secure.gravatar.com/avatar/75fb5300755cbaf69669b79f302247f2?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/06/Experience-Macao.jpeg", "tags": [ "Gaming", "International", "Macau", "MNA", "MNA Featured" ], "summary": "The Macao Government Tourism Office (MGTO) and the city\u2019s leading gaming and integrated resorts rolled into Thailand to strike tourism accord with a roadshow officially launching on Friday in Bangkok\u2019s sprawling Centara mega-mall. " }, { "id": "https://www.macaubusiness.com/new-gaming-crime-bill-excludes-illicit-money-exchange/", "url": "https://www.macaubusiness.com/new-gaming-crime-bill-excludes-illicit-money-exchange/", "title": "New gaming crime bill excludes illicit money exchange", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/06/Weixin-Image_20240614150204-150x150.png\")
\nThe forthcoming ‘Law on Combating Illegal Gambling Crimes’ will not not include provisions addressing illegal money exchange, but the Macau government has not ruled out the possibility of criminalising such activities in the future.
\n\n\n\nThe draft bill, which is set to replace the current Illegal Gambling Law (Law 8/96/m), is currently undergoing review at the Legislative Assembly (AL).
\n\n\n\nChan Chak Mo, the head of the Second Standing Committee of AL, told local media after a bill review meeting on Thursday that while the proposed legislation does not target illegal money exchange, the Macau government takes this matter seriously.
\n\n\n\nHe said the local authorities emphasised that illegal money exchange activities taking place in casinos and surrounding tourism facilities have impacted the development of the gaming industry, economy, and society as a whole.
\n\n\n\nTherefore, the government remains open to the idea of criminalising these activities and is considering implementing penalties such as entry bans as a potential solution.
\n\n\n\nEarlier this month, China\u2019s Ministry of Public Security urged security forces in Macau and the mainland to strengthen cooperation in cracking down on illegal money exchange businesses in the Macau SAR.
\n\n\n\nThe so-called \u2018money changers\u2019, usually present around the city\u2019s casinos, have been identified as a key channel for moving funds across different jurisdictions, particularly between the Chinese mainland and Macau.
\n\n\n\nDriven by huge profits, the scale of the \u2018money exchange gangs\u2019 providing large amounts of cash exchange and high-interest loan services illegally in Macau has expanded rapidly, mainland authorities said, adding that it had triggered other illegal activities such as fighting, fraud, theft, and smuggling, severely affecting local social order and stability.
\n\n\n\nIn late 2023, Macau’s Secretary for Security, Wong Sio Chak, had already indicated the SAR government’s consideration of criminalising illicit money exchange.
\n\n\n\nThe first quarter of the year saw a rise in the illicit activity — even higher than the comparable level in 2019.
\n", "content_text": "The forthcoming ‘Law on Combating Illegal Gambling Crimes’ will not not include provisions addressing illegal money exchange, but the Macau government has not ruled out the possibility of criminalising such activities in the future.\n\n\n\nThe draft bill, which is set to replace the current Illegal Gambling Law (Law 8/96/m), is currently undergoing review at the Legislative Assembly (AL).\n\n\n\nChan Chak Mo, the head of the Second Standing Committee of AL, told local media after a bill review meeting on Thursday that while the proposed legislation does not target illegal money exchange, the Macau government takes this matter seriously.\n\n\n\nHe said the local authorities emphasised that illegal money exchange activities taking place in casinos and surrounding tourism facilities have impacted the development of the gaming industry, economy, and society as a whole.\n\n\n\nTherefore, the government remains open to the idea of criminalising these activities and is considering implementing penalties such as entry bans as a potential solution.\n\n\n\nEarlier this month, China\u2019s Ministry of Public Security urged security forces in Macau and the mainland to strengthen cooperation in cracking down on illegal money exchange businesses in the Macau SAR.\n\n\n\nThe so-called \u2018money changers\u2019, usually present around the city\u2019s casinos, have been identified as a key channel for moving funds across different jurisdictions, particularly between the Chinese mainland and Macau.\n\n\n\nDriven by huge profits, the scale of the \u2018money exchange gangs\u2019 providing large amounts of cash exchange and high-interest loan services illegally in Macau has expanded rapidly, mainland authorities said, adding that it had triggered other illegal activities such as fighting, fraud, theft, and smuggling, severely affecting local social order and stability.\n\n\n\nIn late 2023, Macau’s Secretary for Security, Wong Sio Chak, had already indicated the SAR government’s consideration of criminalising illicit money exchange.\n\n\n\nThe first quarter of the year saw a rise in the illicit activity — even higher than the comparable level in 2019.", "date_published": "June 14, 2024", "date_modified": "June 14, 2024 - 15:06", "author": { "name": "Therese Tu", "url": "https://www.macaubusiness.com/author/therese/", "avatar": "https://secure.gravatar.com/avatar/1d763f17b928c3298f1b719855931b70?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/06/Weixin-Image_20240614150204.png", "tags": [ "Gaming", "Macau", "MNA", "MNA Featured" ], "summary": "The forthcoming 'Law on Combating Illegal Gambling Crimes' will not not include provisions addressing illegal money exchange, but the Macau government has not ruled out the possibility of criminalising such activities in the future." }, { "id": "https://www.macaubusiness.com/macau-reportedly-no-longer-a-freebie-giving-destination/", "url": "https://www.macaubusiness.com/macau-reportedly-no-longer-a-freebie-giving-destination/", "title": "Macau casinos reportedly no longer a freebie-giving destination", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/06/Weixin-Image_20240613194632-150x150.jpg\")
\nMacau may have put an end to the popular practice of offering complimentary food and beverages to anyone at casino resorts, much to the disappointment of upcoming tourists.
\n\n\n\nIt is according to recent\nreports circulating on social media that the city\u2019s gaming watchdog, the Gaming\nInspection and Co-ordination Bureau (DICJ), has instructed the six gaming\nconcessionaires to cease the provision of free snacks and drinks at their\ncasinos.
\n\n\n\nThe government’s\ndecision is reportedly a response to complaints lodged by local business\nassociations, who argue that the offering of free food at casinos has impacted\nthe businesses of local small and medium-sized enterprises (SMEs), leading to a\ndecline in tourist spending within the local community.
\n\n\n\nMacau News Agency (MNA)\nhas reached out to DICJ for an official statement, but as of the publication of\nthis article, no response has been received.
Regarding the potential impact of providing free snacks at gaming resorts on local SMEs, Cheng Wai Tong, deputy director of the Macao Government Tourism Office (MGTO), pointed out on Wednesday that official data indicated non-gaming spending per visitor had increased these days compared to pre-pandemic levels.
\n\n\n\nChange of policy
\n\n\n\nHowever, according to Morgan Stanley, some casino operators have changed their policies, keeping non-gamblers away from the complimentary food counters.
\n\n\n\n“Our checks with the operators suggest that most casinos are still offering free beverages (same as pre-Covid) to all visitors,” analysts Praveen K Choudhary and Gareth Leung, CFA wrote in a recent note.
\n\n\n\n“However, they now require membership cards with at least 1 point (i.e. one has to at least gambled) to get free snacks.”
\n\n\n\nThe two do not expect a significant impact on gross gaming revenue, stressing that footfall is likely to bear the brunt of the fresh policy change.
\n\n\n\n“Gamblers can still get free snacks easily,” they emphasised.
\n\n\n\nSince the relaxation of\nCovid restrictions, Macau has experienced a surge in visitor arrivals, with\nmany tourists sharing tips on social media platforms on how to obtain free food\nofferings at local casinos and to \u2018travel zero-cost\u2019 in the city.
\n\n\n\nEarlier this year,\ninvestment broker Goldman Sachs commented that providing complimentary food was\na marketing strategy employed by casinos to attract more customers.
\n\n\n\nThe brokerage specifically mentioned the popularity of bubble tea and Lady M cakes on MGM’s premium mass gaming floor, which targeted a younger clientele.
\n\n\n\nMeanwhile, MNA has also contacted MGM China Holdings for comment.
\n\n\n\n\n", "content_text": "Macau may have put an end to the popular practice of offering complimentary food and beverages to anyone at casino resorts, much to the disappointment of upcoming tourists.\n\n\n\nIt is according to recent\nreports circulating on social media that the city\u2019s gaming watchdog, the Gaming\nInspection and Co-ordination Bureau (DICJ), has instructed the six gaming\nconcessionaires to cease the provision of free snacks and drinks at their\ncasinos.\n\n\n\nThe government’s\ndecision is reportedly a response to complaints lodged by local business\nassociations, who argue that the offering of free food at casinos has impacted\nthe businesses of local small and medium-sized enterprises (SMEs), leading to a\ndecline in tourist spending within the local community.\n\n\n\nMacau News Agency (MNA)\nhas reached out to DICJ for an official statement, but as of the publication of\nthis article, no response has been received.\n\n\n\nRegarding the potential impact of providing free snacks at gaming resorts on local SMEs, Cheng Wai Tong, deputy director of the Macao Government Tourism Office (MGTO), pointed out on Wednesday that official data indicated non-gaming spending per visitor had increased these days compared to pre-pandemic levels. \n\n\n\nChange of policy\n\n\n\nHowever, according to Morgan Stanley, some casino operators have changed their policies, keeping non-gamblers away from the complimentary food counters.\n\n\n\n“Our checks with the operators suggest that most casinos are still offering free beverages (same as pre-Covid) to all visitors,” analysts Praveen K Choudhary and Gareth Leung, CFA wrote in a recent note.\n\n\n\n“However, they now require membership cards with at least 1 point (i.e. one has to at least gambled) to get free snacks.”\n\n\n\nThe two do not expect a significant impact on gross gaming revenue, stressing that footfall is likely to bear the brunt of the fresh policy change.\n\n\n\n“Gamblers can still get free snacks easily,” they emphasised.\n\n\n\nSince the relaxation of\nCovid restrictions, Macau has experienced a surge in visitor arrivals, with\nmany tourists sharing tips on social media platforms on how to obtain free food\nofferings at local casinos and to \u2018travel zero-cost\u2019 in the city.\n\n\n\nEarlier this year,\ninvestment broker Goldman Sachs commented that providing complimentary food was\na marketing strategy employed by casinos to attract more customers. \n\n\n\nThe brokerage specifically mentioned the popularity of bubble tea and Lady M cakes on MGM’s premium mass gaming floor, which targeted a younger clientele.\n\n\n\nMeanwhile, MNA has also contacted MGM China Holdings for comment.", "date_published": "June 13, 2024", "date_modified": "June 23, 2024 - 16:32", "author": { "name": "Therese Tu", "url": "https://www.macaubusiness.com/author/therese/", "avatar": "https://secure.gravatar.com/avatar/1d763f17b928c3298f1b719855931b70?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/06/Weixin-Image_20240613194632.jpg", "tags": [ "Gaming", "Macau", "MNA", "MNA Featured" ] }, { "id": "https://www.macaubusiness.com/clsa-expects-macau-2024-ggr-to-hit-mop239-7-bln-amid-increased-visitation/", "url": "https://www.macaubusiness.com/clsa-expects-macau-2024-ggr-to-hit-mop239-7-bln-amid-increased-visitation/", "title": "CLSA expects Macau 2024 GGR to hit MOP239.7 bln amid increased visitation", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/06/Weixin-Image_20240612155248-150x150.jpg\")
\nBrokerage firm CLSA has revised its 2024 gross gaming revenue (GGR) forecast for Macau by 2-3 per cent to US$29.8 billion (MOP239.7 billion), as visitation to the city is expected to go higher driven by robust demand and policy support.
\n\n\n\nIn a recent report, analysts Jeffrey Kiang and Leo Pan highlighted that May’s strong GGR reaffirmed that demand for gaming in Macau remained intact, although the overall GGR level remained 22 per cent below the 2019 level.
\n\n\n\n\u201cMacau remains the most alluring gaming destination for Chinese given its close proximity to China in every aspect. In particular, premium players are still showing up in Macau,\u201d the analysts said.
\n\n\n\nCLSA believes that policies are \u2018in an easing direction\u2019, especially with the expansion of eligible Individual Visitation Scheme (IVS) cities, which is expected to attract an additional population of 45 million.
\n\n\n\n\u201cOngoing strong demand in the premium segment and policy support for visitation bodes well for Macau\u2019s GGR, in our view,\u201d the analysts added.
\n\n\n\nBased on strong demand and policy support for Macau, CLSA raised its GGR forecast for Macau in 2024 and 2025 by 2-3 per cent to US$29.8 billion and US$31.7 billion, respectively.
\n\n\n\nDriven by the higher GGR forecasts, the brokerage also raised its 2025 sector EBITDA forecast by 2 per cent to reach US$9.7 billion, surpassing pre-pandemic levels.
\n\n\n\nThe report also highlighted the intensifying competition among concessionaires, as aggregate rebates and reinvestments in players increased by 10 per cent quarter-on-quarter in the first quarter of 2024 to US$1.267 billion, faster than the corresponding GGR growth of 6 per cent.
\n\n\n\n\u201cWe continue to expect intense rivalry ahead as such investments are essential to drive business(GGR), in our view.\u201d
\n\n\n\nAmong the six gaming concessionaires in Macau, Galaxy is expected to regain market share, reaching 18.2 per cent by the end of this year, driven by a shake-up of its salesforce and a reconfiguration of its gaming floor in Galaxy Macau.
\n", "content_text": "Brokerage firm CLSA has revised its 2024 gross gaming revenue (GGR) forecast for Macau by 2-3 per cent to US$29.8 billion (MOP239.7 billion), as visitation to the city is expected to go higher driven by robust demand and policy support.\n\n\n\nIn a recent report, analysts Jeffrey Kiang and Leo Pan highlighted that May’s strong GGR reaffirmed that demand for gaming in Macau remained intact, although the overall GGR level remained 22 per cent below the 2019 level. \n\n\n\n\u201cMacau remains the most alluring gaming destination for Chinese given its close proximity to China in every aspect. In particular, premium players are still showing up in Macau,\u201d the analysts said.\n\n\n\nCLSA believes that policies are \u2018in an easing direction\u2019, especially with the expansion of eligible Individual Visitation Scheme (IVS) cities, which is expected to attract an additional population of 45 million.\n\n\n\n\u201cOngoing strong demand in the premium segment and policy support for visitation bodes well for Macau\u2019s GGR, in our view,\u201d the analysts added.\n\n\n\nBased on strong demand and policy support for Macau, CLSA raised its GGR forecast for Macau in 2024 and 2025 by 2-3 per cent to US$29.8 billion and US$31.7 billion, respectively. \n\n\n\nDriven by the higher GGR forecasts, the brokerage also raised its 2025 sector EBITDA forecast by 2 per cent to reach US$9.7 billion, surpassing pre-pandemic levels.\n\n\n\nThe report also highlighted the intensifying competition among concessionaires, as aggregate rebates and reinvestments in players increased by 10 per cent quarter-on-quarter in the first quarter of 2024 to US$1.267 billion, faster than the corresponding GGR growth of 6 per cent. \n\n\n\n\u201cWe continue to expect intense rivalry ahead as such investments are essential to drive business(GGR), in our view.\u201d\n\n\n\nAmong the six gaming concessionaires in Macau, Galaxy is expected to regain market share, reaching 18.2 per cent by the end of this year, driven by a shake-up of its salesforce and a reconfiguration of its gaming floor in Galaxy Macau.", "date_published": "June 12, 2024", "date_modified": "June 12, 2024 - 16:09", "author": { "name": "Therese Tu", "url": "https://www.macaubusiness.com/author/therese/", "avatar": "https://secure.gravatar.com/avatar/1d763f17b928c3298f1b719855931b70?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/06/Weixin-Image_20240612155248.jpg", "tags": [ "Gaming", "Macau", "MNA" ] }, { "id": "https://www.macaubusiness.com/macau-tops-2024-casino-destination-leaderboard/", "url": "https://www.macaubusiness.com/macau-tops-2024-casino-destination-leaderboard/", "title": "Macau tops 2024 casino destination leaderboard", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/06/IMG_6158-1-150x150.jpeg\")
\nMacau has been ranked the top gambling destination by Online Betting Guide (OLBG), three places ahead of Asian rival Singapore.
\n\n\n\nAccording to OLBG’s Global Casino Index, a compilation of casino destination rankings, Macau topped the league table with a score of 9.32.
\n\n\n\nIt was followed by Philadelphia and Las Vegas in the United States, which completed the top three with scores of 7.24 and 7.2 respectively.
\n\n\n\nAccording to OLBG, searches for local casinos have increased by almost 50 percent worldwide over the past year.
\n\n\n\nAnnual casino searches for Macau totalled 363,700, while Philadelphia and Las Vegas recorded 151,100 and 2,747,000 respectively.
\n\n\n\nTwo other rivals, Singapore and Manila, ranked 4th and 6th respectively with scores of 6.84 and 6.68.
\nThe study used the World Casino Directory, AirDNA and Google Keyword Planner to examine various aspects of different cities.
It examines the cities with the highest number of casinos per capita, the widest range of restaurant options per venue, the largest number of table games per venue, the cities with the most affordable accommodation and the cities most frequently associated with annual casino searches.
\n\n\n\nIn 2023, Macau generated MOP183 billion (US$22.75 billion) in gross gaming revenue, while in 2019, before the pandemic hit the city, the figure was around MOP292 billion.
\n\n\n\nBy comparison, the United States generated a record US$66.5 billion in commercial gaming revenue last year.
\n", "content_text": "Macau has been ranked the top gambling destination by Online Betting Guide (OLBG), three places ahead of Asian rival Singapore.\n\n\n\nAccording to OLBG’s Global Casino Index, a compilation of casino destination rankings, Macau topped the league table with a score of 9.32. \n\n\n\nIt was followed by Philadelphia and Las Vegas in the United States, which completed the top three with scores of 7.24 and 7.2 respectively.\n\n\n\nAccording to OLBG, searches for local casinos have increased by almost 50 percent worldwide over the past year. \n\n\n\nAnnual casino searches for Macau totalled 363,700, while Philadelphia and Las Vegas recorded 151,100 and 2,747,000 respectively.\n\n\n\nTwo other rivals, Singapore and Manila, ranked 4th and 6th respectively with scores of 6.84 and 6.68. \nThe study used the World Casino Directory, AirDNA and Google Keyword Planner to examine various aspects of different cities. \n\n\n\nIt examines the cities with the highest number of casinos per capita, the widest range of restaurant options per venue, the largest number of table games per venue, the cities with the most affordable accommodation and the cities most frequently associated with annual casino searches.\n\n\n\nIn 2023, Macau generated MOP183 billion (US$22.75 billion) in gross gaming revenue, while in 2019, before the pandemic hit the city, the figure was around MOP292 billion.\n\n\n\nBy comparison, the United States generated a record US$66.5 billion in commercial gaming revenue last year.", "date_published": "June 12, 2024", "date_modified": "June 12, 2024 - 15:25", "author": { "name": "Aries Un", "url": "https://www.macaubusiness.com/author/aries-un/", "avatar": "https://secure.gravatar.com/avatar/7ae1d1264b8afa0640eb6915aab8c425?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/06/IMG_6158-1.jpeg", "tags": [ "Gaming", "Macau", "MNA", "MNA Featured" ], "summary": "Macau has been ranked the top gambling destination by Online Betting Guide (OLBG), three places ahead of Asian rival Singapore." }, { "id": "https://www.macaubusiness.com/macaus-ggr-run-rate-expected-to-hit-a-floor-this-month-citigroup/", "url": "https://www.macaubusiness.com/macaus-ggr-run-rate-expected-to-hit-a-floor-this-month-citigroup/", "title": "Macau\u2019s GGR run-rate expected to hit a floor this month: Citigroup", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/06/Weixin-Image_20240611184248-150x150.jpg\")
\nMacau has experienced a seasonal slowdown in June when it comes to gross gaming revenue, partly dampened by heavy rainfall and the nationwide university admission exams, according to Citigroup (Citi).
\n\n\n\nA recent survey carried out by analysts George Choi and Ryan Cheung pointed to the month slowing down, with pair recommending \u201cinvestors treat this month\u2019s data point as the floor for Macau’s GGR run-rate this year\u201d.
\n\n\n\nIn the premium mass segment, the findings indicated a 10 per cent year-on-year rise in total wagers, amounting to HKD10 million (US$1.28 million/ MOP10.28 million) in June 2024 compared to HK$9.1 million in June last year.
\n\n\n\nThis growth was\nprimarily driven by a 31 per cent rise in the number of players, reaching 543 in\ntotal.
\n\n\n\nHowever, the wager per\nplayer witnessed a 16 per cent year-on-year fall to HKD18,478. This decline was\nattributed to the high base set in June 2023 when Sands China played host to Cantopop\nsinger Jacky Cheung for a series of shows that attracted high spenders.
\n\n\n\nThe Citi survey also showed\nencouraging signs, considering the first day of China’s nationwide university\nadmission exams, which typically results in reduced travel by parents.
\n\n\n\nThe analysts found the\n31 per cent year-on-year increase in player count and the 10 per cent higher wager\nto be positive indicators for the industry.
\n\n\n\nHigh-stake players,\nusually referred to as whales, remained flat year-on-year at 16, with the\nstandout player betting HKD10 million at Galaxy Macau’s Horizon room.
\n\n\n\nThe last instance of a\nseven-figure bet was recorded in November 2019 when a player wagered HKD1.7\nmillion.
\n\n\n\nAmong the 16 whales, 11\nwere spotted at Galaxy and Wynn Macau, further solidifying their position as\nthe top casinos for premium mass gaming.
\n\n\n\nCiti also made other notable observations. Sands China, which recently closed the Pacifica casino, managed to mitigate the impact on EBITDA through strategic measures.
\n\n\n\nThese measures included\nconverting a former junket room into a new grind mass area with 22 tables and\nattracting customers to their Parisian property.
\n\n\n\nAdditionally,\nrenovation activities were observed in Studio City’s grind mass area and the\n2nd floor of StarWorld.
\n\n\n\nFurthermore, Citi\nhighlighted the introduction of a new side bet called Small 6/Big 6 by Sands\nChina and Galaxy in their May survey.
\n\n\n\nBased on current\nobservations, these two casino operators now offer the side bet at all baccarat\ntables.
\n\n\n\nThe remaining four\noperators are gradually rolling out this popular side bet, which is available\nin both premium mass and grind mass areas.
\n", "content_text": "Macau has experienced a seasonal slowdown in June when it comes to gross gaming revenue, partly dampened by heavy rainfall and the nationwide university admission exams, according to Citigroup (Citi). \n\n\n\nA recent survey carried out by analysts George Choi and Ryan Cheung pointed to the month slowing down, with pair recommending \u201cinvestors treat this month\u2019s data point as the floor for Macau’s GGR run-rate this year\u201d.\n\n\n\nIn the premium mass segment, the findings indicated a 10 per cent year-on-year rise in total wagers, amounting to HKD10 million (US$1.28 million/ MOP10.28 million) in June 2024 compared to HK$9.1 million in June last year.\n\n\n\nThis growth was\nprimarily driven by a 31 per cent rise in the number of players, reaching 543 in\ntotal. \n\n\n\nHowever, the wager per\nplayer witnessed a 16 per cent year-on-year fall to HKD18,478. This decline was\nattributed to the high base set in June 2023 when Sands China played host to Cantopop\nsinger Jacky Cheung for a series of shows that attracted high spenders.\n\n\n\nThe Citi survey also showed\nencouraging signs, considering the first day of China’s nationwide university\nadmission exams, which typically results in reduced travel by parents. \n\n\n\nThe analysts found the\n31 per cent year-on-year increase in player count and the 10 per cent higher wager\nto be positive indicators for the industry.\n\n\n\nHigh-stake players,\nusually referred to as whales, remained flat year-on-year at 16, with the\nstandout player betting HKD10 million at Galaxy Macau’s Horizon room.\n\n\n\nThe last instance of a\nseven-figure bet was recorded in November 2019 when a player wagered HKD1.7\nmillion. \n\n\n\nAmong the 16 whales, 11\nwere spotted at Galaxy and Wynn Macau, further solidifying their position as\nthe top casinos for premium mass gaming.\n\n\n\nCiti also made other notable observations. Sands China, which recently closed the Pacifica casino, managed to mitigate the impact on EBITDA through strategic measures. \n\n\n\nThese measures included\nconverting a former junket room into a new grind mass area with 22 tables and\nattracting customers to their Parisian property. \n\n\n\nAdditionally,\nrenovation activities were observed in Studio City’s grind mass area and the\n2nd floor of StarWorld.\n\n\n\nFurthermore, Citi\nhighlighted the introduction of a new side bet called Small 6/Big 6 by Sands\nChina and Galaxy in their May survey. \n\n\n\nBased on current\nobservations, these two casino operators now offer the side bet at all baccarat\ntables. \n\n\n\nThe remaining four\noperators are gradually rolling out this popular side bet, which is available\nin both premium mass and grind mass areas.", "date_published": "June 11, 2024", "date_modified": "June 12, 2024 - 11:40", "author": { "name": "Aries Un", "url": "https://www.macaubusiness.com/author/aries-un/", "avatar": "https://secure.gravatar.com/avatar/7ae1d1264b8afa0640eb6915aab8c425?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/06/Weixin-Image_20240611184248.jpg", "tags": [ "Gaming", "Macau", "MNA", "MNA Featured" ] }, { "id": "https://www.macaubusiness.com/we-are-allies-rather-than-rivals-gaming-op-exec/", "url": "https://www.macaubusiness.com/we-are-allies-rather-than-rivals-gaming-op-exec/", "title": "We are allies rather than rivals: Gaming op exec", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/06/WhatsApp-Image-2024-06-06-at-5.56.40-PM-150x150.jpeg\")
\nThe city’s six gaming operators can collaborate as a united front to promote Macau as a world-class travel destination within the international community, stated DeVonne Iao, senior vice president and chief marketing officer of Sands China.
\n\n\n\n\u201cWhen we are outside of Macau, we’re not competitors. All six of us, the operators, are allies promoting Macau as a destination,\u201d she stated.
\n\n\n\nShe made the remarks during the final panel on Thursday at the Asian IR Summit, which was part of the conference programme for the Global Gaming Expo Asia (G2E Asia) 2024 and the Asian IR Expo. Both shows, lasting for three days, concluded on Thursday.
\n\n\n\nAt the panel discussing how Macau can establish an international identity and an image beyond casinos, Iao pointed out that one of the challenges is not the lack of efforts from the authorities, gaming operators, and other stakeholders, but rather whether this message can reach the target audience.
\n\n\n\n\u201cThe challenge is that when we are trying to package so much and tell so many things to the market, they can only remember [not] so much,\u201d she said.
\n\n\n\nFrom her perspective, the six gaming operators can work together to plan and promote the overall image, key proposition, and selling point of Macau within the international community.
\n\n\n\n\u201cMacau is a very unique destination with a mix of Chinese and Portuguese cultures,\u201d Iao continued. \u201cWe’re not a day-trip destination as a side to Hong Kong. We are a destination in its own right.\u201d
\n\n\n\nIao’s message is also echoed by Akiko Takahashi, Executive Vice President and Chief of Staff to the Chairman and CEO at Melco Resorts & Entertainment.
\n\n\n\n\u201cAs we talk about collaboration, I’m thinking that\u2026 the operators have their own DNA, their own messages, and communications to the market,\u201d Takahashi, who was the panel moderator, said. \u201cBut surely we can.\u201d
\n\n\n\nInternational campaigns
\n\n\n\nIn recent years, Macau has focused on attracting travellers from beyond the Greater China region. One of the main tasks for the six gaming operators, after their new 10-year concessions began last year, is to help the city draw more international tourists.
\n\n\n\nMaria Helena de Senna Fernandes, the director of the Macau Government Tourism Office (MGTO), stated earlier this week that the government hopes the overall visitation to the city can reach 33 million this year, with over 2 million coming from international source markets.
\n\n\n\nLast year, the city welcomed 28.23 million tourists, recovering to about 71 percent of the pre-Covid figure of 39.4 million in 2019. As of April 2024, 11.48 million visitors have travelled to Macau so far this year, representing a year-on-year increase of 58.9 percent.
\n\n\n\nSpeaking at the same panel on Thursday, Cheng Wai Tong, the deputy director of MGTO, indicated that the authorities will launch two promotional campaigns for Macau in the international community. One will target established media outlets such as BBC, CNN, and Bloomberg, while the other will focus on social media.
\n\n\n\n\u201cAll these campaigns will also be contributed by [the] six gaming operators, not only money but also [in terms of] content,\u201d Cheng highlighted.
\n\n\n\nThe Thursday panel also suggested that television productions and films shot in Macau could help elevate the city’s image and increase global awareness.
\n\n\n\nAs an example, Siu Sai Wo, the general manager (business operations) of Hong Kong broadcaster TVB, illustrated how Shanghai became a popular destination among mainland Chinese following the debut of the TV drama \u201cBlossoms Shanghai\u201d at the end of last year.
\n\n\n\nDirected by the globally acclaimed director Wong Kar-wai, \u201cBlossoms Shanghai\u201d is set in the Chinese eastern city during the 1990s.
\n\n\n\n\u201cMacau should have its own ‘Blossoms Macau’,\u201d Siu indicated.
\n", "content_text": "The city’s six gaming operators can collaborate as a united front to promote Macau as a world-class travel destination within the international community, stated DeVonne Iao, senior vice president and chief marketing officer of Sands China.\n\n\n\n\u201cWhen we are outside of Macau, we’re not competitors. All six of us, the operators, are allies promoting Macau as a destination,\u201d she stated.\n\n\n\nShe made the remarks during the final panel on Thursday at the Asian IR Summit, which was part of the conference programme for the Global Gaming Expo Asia (G2E Asia) 2024 and the Asian IR Expo. Both shows, lasting for three days, concluded on Thursday.\n\n\n\nAt the panel discussing how Macau can establish an international identity and an image beyond casinos, Iao pointed out that one of the challenges is not the lack of efforts from the authorities, gaming operators, and other stakeholders, but rather whether this message can reach the target audience.\n\n\n\n\u201cThe challenge is that when we are trying to package so much and tell so many things to the market, they can only remember [not] so much,\u201d she said.\n\n\n\nFrom her perspective, the six gaming operators can work together to plan and promote the overall image, key proposition, and selling point of Macau within the international community.\n\n\n\n\u201cMacau is a very unique destination with a mix of Chinese and Portuguese cultures,\u201d Iao continued. \u201cWe’re not a day-trip destination as a side to Hong Kong. We are a destination in its own right.\u201d\n\n\n\nIao’s message is also echoed by Akiko Takahashi, Executive Vice President and Chief of Staff to the Chairman and CEO at Melco Resorts & Entertainment.\n\n\n\n\u201cAs we talk about collaboration, I’m thinking that\u2026 the operators have their own DNA, their own messages, and communications to the market,\u201d Takahashi, who was the panel moderator, said. \u201cBut surely we can.\u201d\n\n\n\nInternational campaigns\n\n\n\nIn recent years, Macau has focused on attracting travellers from beyond the Greater China region. One of the main tasks for the six gaming operators, after their new 10-year concessions began last year, is to help the city draw more international tourists.\n\n\n\nMaria Helena de Senna Fernandes, the director of the Macau Government Tourism Office (MGTO), stated earlier this week that the government hopes the overall visitation to the city can reach 33 million this year, with over 2 million coming from international source markets.\n\n\n\nLast year, the city welcomed 28.23 million tourists, recovering to about 71 percent of the pre-Covid figure of 39.4 million in 2019. As of April 2024, 11.48 million visitors have travelled to Macau so far this year, representing a year-on-year increase of 58.9 percent.\n\n\n\nSpeaking at the same panel on Thursday, Cheng Wai Tong, the deputy director of MGTO, indicated that the authorities will launch two promotional campaigns for Macau in the international community. One will target established media outlets such as BBC, CNN, and Bloomberg, while the other will focus on social media.\n\n\n\n\u201cAll these campaigns will also be contributed by [the] six gaming operators, not only money but also [in terms of] content,\u201d Cheng highlighted.\n\n\n\nThe Thursday panel also suggested that television productions and films shot in Macau could help elevate the city’s image and increase global awareness.\n\n\n\nAs an example, Siu Sai Wo, the general manager (business operations) of Hong Kong broadcaster TVB, illustrated how Shanghai became a popular destination among mainland Chinese following the debut of the TV drama \u201cBlossoms Shanghai\u201d at the end of last year. \n\n\n\nDirected by the globally acclaimed director Wong Kar-wai, \u201cBlossoms Shanghai\u201d is set in the Chinese eastern city during the 1990s.\n\n\n\n\u201cMacau should have its own ‘Blossoms Macau’,\u201d Siu indicated.", "date_published": "June 06, 2024", "date_modified": "June 07, 2024 - 09:17", "author": { "name": "Tony Lai", "url": "https://www.macaubusiness.com/author/tony-lai/", "avatar": "https://secure.gravatar.com/avatar/a5b778e54892854e651e4df2f269cb0d?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/06/WhatsApp-Image-2024-06-06-at-5.56.40-PM.jpeg", "tags": [ "Gaming", "Macau", "MNA", "MNA Featured" ] }, { "id": "https://www.macaubusiness.com/aruze-gaming-global-eyes-greater-presence-in-macau-and-other-asia-markets/", "url": "https://www.macaubusiness.com/aruze-gaming-global-eyes-greater-presence-in-macau-and-other-asia-markets/", "title": "Aruze Gaming Global eyes greater presence in Macau and other Asia markets", "content_html": "![\"\"](\"https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/06/WhatsApp-Image-2024-06-06-at-6.29.45-PM-150x150.jpeg\")
\nSlot machine brand Aruze Gaming Global is aiming for a greater presence in Macau and other Asian gambling jurisdictions, with plans to introduce 12 new games in the city this year, Betty Zhao, its senior vice president of international operations, said.
\n\n\n\n\u201cWe want to have more presence in Asia. This is our target for this year,\u201d she stated.
\n\n\n\nShe made the comments during the Global Gaming Expo Asia (G2E Asia) 2024, a regional casino industry trade show held at the Venetian Macao from 4 to 6 June.
\n\n\n\nAruze Gaming Global was newly formed after US gaming technology firm Empire Technological Group acquired the land-based and online slot assets related to Aruze Gaming America, which filed for bankruptcy protection in the United States last year.
\n\n\n\n\u201cAruze is a very good company, and we’ve acquired its positive image, IP [intellectual property], and talent,\u201d Zhao said. \u201cNow, we want everyone, [including] all the slot operators and players, to see the new Aruze again.\u201d
\n\n\n\n\u201cWe’re doing quite well in North America [and] we believe that Asia has big potential in the industry in the next few years,\u201d she emphasised. \u201cWe want to have our products available everywhere, [including] Macau, the Philippines, Malaysia, Singapore, Cambodia, and Vietnam.\u201d
\n\n\n\nAt G2E Asia 2024, Aruze Gaming Global showcased a range of products, including cabinets such as the Muso Curve-55HB and Muso Triple-32HB. They also presented their standalone progressive product, \u201cGong Gong Lai Fu,\u201d which Zhao described as their \u201csignature game.\u201d
\n\n\n\n\u201c\u2018Gong Gong Lai Fu’ is one of our best products, and it has already been launched in one of the biggest casinos in Asia,\u201d she revealed, without disclosing the specific casino or its location. \u201cIt has been very successful, and its performance has been extremely good. So we want to bring it to Macau and give the players a new experience.\u201d
\n\n\n\nIn the post-Covid era, analysts and observers have noted a decline in the number of high rollers visiting Macau, while the tourist demographic has shifted to a younger audience.
\n\n\n\n\u201c[Youngsters] are quick to adapt to electronic devices, and Macau is now focusing more on the mass market. This gives us a lot of opportunities to have our machines on the casino floor,\u201d Zhao added.
\n\n\n\nA stronger presence of Aruze Gaming Global in Macau could also contribute to the city’s objective of attracting a more diverse range of tourists, particularly international travellers, according to the executive.
\n\n\n\n\u201cIf you visit a casino in [Las] Vegas or any other country, you’ll find so many games on the floor for players to choose [from],\u201d she remarked. \u201cIf Macau wants to have more foreign players, [there needs to be] a diverse selection of games.\u201d
\n", "content_text": "Slot machine brand Aruze Gaming Global is aiming for a greater presence in Macau and other Asian gambling jurisdictions, with plans to introduce 12 new games in the city this year, Betty Zhao, its senior vice president of international operations, said. \n\n\n\n\u201cWe want to have more presence in Asia. This is our target for this year,\u201d she stated.\n\n\n\nShe made the comments during the Global Gaming Expo Asia (G2E Asia) 2024, a regional casino industry trade show held at the Venetian Macao from 4 to 6 June.\n\n\n\nAruze Gaming Global was newly formed after US gaming technology firm Empire Technological Group acquired the land-based and online slot assets related to Aruze Gaming America, which filed for bankruptcy protection in the United States last year.\n\n\n\n\u201cAruze is a very good company, and we’ve acquired its positive image, IP [intellectual property], and talent,\u201d Zhao said. \u201cNow, we want everyone, [including] all the slot operators and players, to see the new Aruze again.\u201d\n\n\n\n\u201cWe’re doing quite well in North America [and] we believe that Asia has big potential in the industry in the next few years,\u201d she emphasised. \u201cWe want to have our products available everywhere, [including] Macau, the Philippines, Malaysia, Singapore, Cambodia, and Vietnam.\u201d\n\n\n\nAt G2E Asia 2024, Aruze Gaming Global showcased a range of products, including cabinets such as the Muso Curve-55HB and Muso Triple-32HB. They also presented their standalone progressive product, \u201cGong Gong Lai Fu,\u201d which Zhao described as their \u201csignature game.\u201d\n\n\n\n\u201c\u2018Gong Gong Lai Fu’ is one of our best products, and it has already been launched in one of the biggest casinos in Asia,\u201d she revealed, without disclosing the specific casino or its location. \u201cIt has been very successful, and its performance has been extremely good. So we want to bring it to Macau and give the players a new experience.\u201d\n\n\n\nIn the post-Covid era, analysts and observers have noted a decline in the number of high rollers visiting Macau, while the tourist demographic has shifted to a younger audience.\n\n\n\n\u201c[Youngsters] are quick to adapt to electronic devices, and Macau is now focusing more on the mass market. This gives us a lot of opportunities to have our machines on the casino floor,\u201d Zhao added.\n\n\n\nA stronger presence of Aruze Gaming Global in Macau could also contribute to the city’s objective of attracting a more diverse range of tourists, particularly international travellers, according to the executive.\n\n\n\n\u201cIf you visit a casino in [Las] Vegas or any other country, you’ll find so many games on the floor for players to choose [from],\u201d she remarked. \u201cIf Macau wants to have more foreign players, [there needs to be] a diverse selection of games.\u201d", "date_published": "June 06, 2024", "date_modified": "June 06, 2024 - 18:50", "author": { "name": "Tony Lai", "url": "https://www.macaubusiness.com/author/tony-lai/", "avatar": "https://secure.gravatar.com/avatar/a5b778e54892854e651e4df2f269cb0d?s=512&d=mm&r=g" }, "image": "https://hogo.sgp1.digitaloceanspaces.com/macaubusiness/wp-content/uploads/2024/06/WhatsApp-Image-2024-06-06-at-6.29.45-PM.jpeg", "tags": [ "Gaming", "Macau", "MNA" ] } ] }