Your Daily Asia Gaming eBrief: Macau won’t see Vegas recovery path

Good morning. Las Vegas stole the show in the second quarter of this year, with revenues swinging from depressing lows to new record highs. Today, the city is now looking to group and convention bookings to drive the rest of its recovery. The recovery path for Macau isn’t so clear, says analysts. Our deep-dive this morning looks at why pent-up gaming demand’s role in U.S. gaming recovery likely won’t play out the same way in Macau.

What you need to know

  • Casinos Austria, which was named as the bidding partner for an IR in Nagasaki, has outlined its plans, which include 2,200 slot machines and 220 table games.
  • Yokohama is likely to proceed with its IR plans following upcoming mayoral elections and Genting Singapore is likely to be the preferred bidder, Maybank wrote in a report.
  • Landing International says that it’s expecting to record an 80 percent jump in 1H21 revenue, with its Jeju integrated resort enjoying domestic demand. 
  • International Entertainment says that it has paused it’s accord with PAGCOR to develop an integrated resort in Manila due to the ongoing lockdown.

On the radar

  • Philippines its extending its travel ban for 10 countries until end-August
  • Oshidori is expecting profit of HKD1.04 billion in 1H21
  • Malaysia is relaxing its Covid measures, though casinos still closed
  • Kangwon Land closes for 2 days after Covid was detected amongst staff. 
  • Entain has acquired esports wagering start-up Unikrn

What the papers say

AGB Intelligence


Your Daily Asia Gaming eBrief: Macau won't see Vegas recovery path

Vegas recovery model not the same for Macau

Record gaming revenue from the United States in the second quarter has illustrated the potential of pent-up demand on our gaming floors. But can the same path of recovery be expected in Macau once borders fully reopen? Industry experts are wary of being too optimistic. When Las Vegas opened up this year, it simultaneously shed a lot of its capacity restrictions opening a “floodgate” of pent-up customer demand. But Macau took a more cautious approach to reopening last year. There was a more intentional staggering of returning gaming customers, depressurizing the pent-up demand and causing lackluster 2Q results in comparison.

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