Saturday, December 7, 2024

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Macau Legend accuses Cape Verde of “aggressive act” after IR project termination

Gaming company Macau Legend Development (MLD) has accused the Cape Verdean government of committing an "agressive act" by terminating, without prior notice, contracts, and land concessions for its uncompleted gaming and tourism project planned for the country's capital.

Prudent outlook on Macau’s December GGR amid visit of top Chinese officials

Citigroup has issued a conservative forecast for Macau's December 2024 gross gaming revenue (GGR), projecting a flat year-on-year performance at $2.3 billion. 

Daily Asia Gaming eBrief: Macau could see a 4% rise in GGR in 2025

With a little help from my friends. Macau's gaming industry could see a gross gaming revenue (GGR) increase of 4% year-on-year, reaching $29.3 billion, according to CLSA. This jump would harness potential consumer-focused fiscal stimulus advanced by China’s central government. Meanwhile, Curacao’s gaming regulator has issued a statement addressing recent corruption allegations surrounding the island’s gaming licensing system and operator BC.GAME. Returning to Macau, the city’s top court has issued a decisive ruling maintaining the 13-year prison sentence handed to Levo Chan, the former junket Tak Chun Group CEO.

Macau’s November GGR reaches $2.31B, down 11.3% M-o-M

Macau’s gross gaming revenue (GGR) amounted to MOP18.4 billion ($2.31 billion) in November, reflecting an 11.3 percent decrease from October’s MOP20.8 billion ($2.60 billion).

UBS foresees low single-digit GGR growth in Macau for 2025 and 2026

Macau's gaming industry is expected to see low single-digit growth over the next few years, with total gross gaming revenue (GGR) projected to increase by 3 percent year-on-year through 2025 and 2026.

Macau GGR estimated at $1.26B through the first 17 days of November 

Macau's gross gaming revenue is estimated to have reached approximately $1.26 billion for the first 17 days of November, implying a daily run-rate of $74.4 million, according to Bank of America.

eGames sector continues impressive growth in Philippines in 3Q24, overall GGR at $1.6B

The eGames sector in the Philippines continued to see heady revenue growth in the third quarter of the year, topping $606.94 million, even as overall GGR hit a record $1.6 billion.

Maybank trims Bloomberry net revenue forecasts due to softness in GGR

Maybank has revised its net revenue forecasts for Bloomberry Resorts Corporation, lowering its projections by 12 percent for both FY24 and FY25, now estimating PHP51.0 billion ($870 million) and PHP60.3 billion ($1.03 billion), respectively.

Macau November GGR to drop 13.5% MoM due to seasonality and Grand Prix

Macau’s gross gaming revenue (GGR) for November is expected to drop 13.5 percent from October, primarily due to seasonality and the impact of the Macau Grand Prix, according to Bank of America.

Daily Asia Gaming eBrief: Macau’s October mass GGR “impressive” under current economy

Fighting against the current. Despite weak macroeconomic conditions and consumer sentiment Macau's gaming sector celebrated a remarkable performance in October, JP Morgan remarked, achieving a mass GGR of MOP20.8 billion ($2.5 billion), the highest ever recorded. Meanwhile, Andrew MacDonald has stepped down from his role as director and chief casino officer of Genting Singapore’s Resorts World Sentosa (RWS). In South Korea, the operator of the Jeju Dream Tower casino resort, Lotte Tour, has seen a notable improvement in gaming revenues.

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